Smith Micro Software, Inc.

Smith Micro Software reported a challenging fiscal year 2025 with revenues of $17.4 million, a 16% decline from $20.6 million in 2024. The decrease was driven by a $2.3 million decline in Family Safety revenues due to legacy Sprint customer migration to T-Mobile and a one-time event, and a $1.0 million decline in ViewSpot revenues, partially offset by a $0.1 million increase in CommSuite revenues. Gross profit was $12.9 million (74.1% margin), down from $14.4 million (70.2% margin) in 2024. The company recorded a net loss attributable to common stockholders of $30.1 million, including a $11.1 million goodwill impairment charge and a $1.3 million gain on the sale of ViewSpot. Operating expenses decreased by $21.9 million year-over-year, primarily due to the goodwill impairment charges ($11.1 million in 2025 vs $24.0 million in 2024) and cost reduction efforts. The company ended the year with $1.5 million in cash and cash equivalents and has raised approximately $5.4 million through equity and debt offerings during 2025. Management has implemented strategic cost reductions expected to save $7.2 million in 2026.

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