Smith Micro Software, Inc. (SMSI) financial statements (2022 and earlier)

Company profile

Business Address 5800 CORPORATE DRIVE
PITTSBURGH, PA 15237
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments16,07825,75428,26812,1592,2052,22912,897
Cash and cash equivalents16,07825,75428,26812,1592,2052,2298,819
Short-term investments      4,078
Receivables10,59012,34710,8947,1305,1454,9638,158
Inventory, net of allowances, customer advances and progress billings     1239
Inventory     1239
Other undisclosed current assets1,9881,189802795576713692
Total current assets:28,65639,29039,96420,0847,9267,91721,786
Noncurrent Assets
Operating lease, right-of-use asset5,7105,7856,464
Property, plant and equipment2,6982,1702,1098651,2291,8112,492
Intangible assets, net (including goodwill)77,67224,96412,3323,9234,1724,431 
Goodwill35,04112,2667,7973,6853,6853,686 
Intangible assets, net (excluding goodwill)42,63112,6984,535238487745 
Other noncurrent assets620694234140146149195
Other undisclosed noncurrent assets  94191404  
Total noncurrent assets:86,70033,61321,2335,1195,9516,3912,687
TOTAL ASSETS:115,35672,90361,19725,20313,87714,30824,473
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,7372,4982,2941,6101,7495,4106,772
Accounts payable3,3012,2822,0501,1601,3331,9071,708
Accrued liabilities4362162444504163,5035,064
Deferred revenue1761,57298
Debt  1,221    
Due to related parties    1,000  
Deferred revenue and credits7398440
Contract with customer, liability28
Other undisclosed current liabilities5,4554,3002,1071,7451,994  
Total current liabilities:9,3688,3705,7203,3834,8165,5087,212
Noncurrent Liabilities
Long-term debt and lease obligation4,4674,8055,774 1,558967 
Long-term debt, excluding current maturities    1,558967 
Operating lease, liability4,4674,8055,774
Liabilities, other than long-term debt1171,0121,0191,2572,9364,1193,235
Deferred revenue and credits970  
Deferred rent credit 887885723
Deferred tax liabilities, net  181 
Deferred income tax liabilities11759 
Due to related parties    1,200967 
Other liabilities 661345347662,9713,235
Other undisclosed noncurrent liabilities844    1,210 
Total noncurrent liabilities:5,4285,8176,7931,2574,4946,2963,235
Total liabilities:14,79614,18712,5134,6409,31011,80410,447
Stockholders' equity
Stockholders' equity attributable to parent100,56058,71648,68420,5634,5672,50414,026
Common stock54413828141246
Additional paid in capital352,779279,905274,041256,626237,486227,889224,867
Accumulated deficit(252,273)(221,230)(225,395)(236,091)(232,933)(225,397)(210,887)
Total stockholders' equity:100,56058,71648,68420,5634,5672,50414,026
TOTAL LIABILITIES AND EQUITY:115,35672,90361,19725,20313,87714,30824,473

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues58,42251,30043,34626,28522,97428,23539,507
Revenue, net22,97428,23539,507
Cost of revenue
(Cost of Goods and Services Sold)
(12,698)(5,190)(3,927)(4,333)(5,082)(7,564)(8,152)
Gross profit:45,72446,11039,41921,95217,89220,67131,355
Operating expenses(76,662)(42,589)(29,314)(23,166)(23,566)(36,576)(33,893)
Operating income (loss):(30,938)3,52110,105(1,214)(5,674)(15,905)(2,538)
Nonoperating income (expense)76(3)(14)(26)(8)(25)4
Other nonoperating income (expense)76(3)(14)(26)(8)(25) 
Interest and debt expense   (203)(405)  
Income (loss) from continuing operations before equity method investments, income taxes:(30,862)3,51810,091(1,443)(6,087)(15,930)(2,534)
Other undisclosed income (loss) from continuing operations before income taxes34807711(1,284)(1,120)1,189 
Income (loss) from continuing operations before income taxes:(30,828)4,32510,802(2,727)(7,207)(14,741)(2,534)
Income tax expense (benefit)(215)(160)(80)(13)546229(68)
Net income (loss) attributable to parent:(31,043)4,16510,722(2,740)(6,661)(14,512)(2,602)
Preferred stock dividends and other adjustments  (119)(404)   
Net income (loss) available to common stockholders, diluted:(31,043)4,16510,603(3,144)(6,661)(14,512)(2,602)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(31,043)4,16510,722(2,740)(6,661)(14,512)(2,602)
Comprehensive income (loss):(31,043)4,16510,722(2,740)(6,661)(14,512)(2,602)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   (1) 2(1)
Comprehensive income (loss), net of tax, attributable to parent:(31,043)4,16510,722(2,741)(6,661)(14,510)(2,603)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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