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8-K ·Filed Mar 4, 2026

SMSI

SMITH MICRO SOFTWARE, INC.
BEARISH
Impact 7/10
Horizonweeks Processed7mo ago SEC0001437749-26-006913
Killer combo: Material agreement + unregistered equity (likely PIPE/convertible)
Actionable Insight ▼ Bearish

The $4M financing from the CEO provides short-term liquidity, but declining revenue and continued losses raise sustainability concerns. Monitor whether the new CEO can stabilize operations and reverse the revenue trend.

DirectionBearish
Confidencehigh
Horizonweeks
Final — all horizons settled through T+60d
SMSI ▲ +29.41% at T+60d
SHORT call ✗ call lost -29.41% · α vs SPY -18.11% · entry $0.6800 → $0.8800
Entry = T+0 close
Mar 4, 2026
via day close
T+1d
-4.41%
call +4.41% · α +3.10%
$0.6500
settled 8mo ago
T+5d
+25.00%
call -25.00% · α -27.24%
$0.8500
settled 8mo ago
T+20d
+5.88%
call -5.88% · α -9.67%
$0.7200
settled 7mo ago
T+60d
+29.41%
call -29.41% · α -18.11%
$0.8800
settled 5mo ago

Price Chart

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Executive Summary

Smith Micro Software reported declining revenue and net losses for Q4 and FY2025, while announcing a leadership transition and a $4 million convertible note financing from its CEO and wife. The company also disclosed a $1.5 million cash balance, raising concerns about liquidity despite the new funding.

Key Financial Metrics

Revenue
$17.4M
-15.5% YoY
Adj. EPS
$-0.52
GAAP: $-1.46
Gross Margin
74.1%

Key Facts

  • Revenue declined 20.1% YoY to $4.0M in Q4 2025 and 15.5% YoY to $17.4M for FY2025
  • GAAP net loss was $4.7M in Q4 2025 and $30.1M for FY2025, though improved from prior year losses
  • CEO William Smith Jr. is stepping down as CEO to become Executive Chairman; Tim Huffmyer is taking over as CEO
  • The Smith family is providing $4 million in convertible note financing to support operations
  • Cash and cash equivalents decreased to $1.494M as of December 31, 2025
  • The company issued new secured convertible notes and warrants to investors, with security interest in company assets

Financial Impact

Revenue down $3.2M annually, cash balance of $1.5M with $4M new financing secured

revenuenet losscashdebt

Risk Factors

  • Continuing revenue decline and net losses
  • Low cash balance raises going concern questions
  • Leadership transition risk during turnaround attempt
  • Dilution risk from conversion of new notes and warrants

Market Snapshot

Exchange
Nasdaq

Investment Themes

Software & IT

Documents Analyzed

This report is based on 3 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001437749-26-006913
Exhibit: ex_928305.htm0001437749-26-006913
Exhibit: ex_928306.htm0001437749-26-006913
5 reports for SMSI
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for SMSI — sortable, filterable
TypeNow
Sep 18, 2026
5w ago
8-K
NEUTRAL ★ 3/10
$2.70awaiting T+60—$2.35 (−12.96%)
Aug 13, 2026
10w ago
8-K
NEUTRAL ★ 4/10
$2.86awaiting T+60—$2.35 (−17.83%)
Jun 23, 2026
17w ago
8-K
BULLISH ★ 6/10
$2.76 $2.96▲ +7.25%▲ +4.41%$2.35 (−14.86%)
Jun 12, 2026
19w ago
8-K
BEARISH ★ 6/10
$2.88 $2.84▲ +1.22%▲ +4.48%$2.35 (+18.26%)
Mar 4, 2026
33w ago
8-K
BEARISH ★ 7/10
$0.6800 $0.8800▼ −29.41%▼ −18.11%$2.35 (−245.59%)
Showing 5 of 5

US Market Status

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Report published Mar 4, 2026