2024 Q3 Form 10-Q Financial Statement

#000094870824000026 Filed on August 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $4.648M $5.140M
YoY Change -57.75% -50.28%
Cost Of Revenue $1.321M $1.607M
YoY Change -47.75% -37.93%
Gross Profit $3.327M $3.533M
YoY Change -60.73% -54.41%
Gross Profit Margin 71.58% 68.74%
Selling, General & Admin $4.775M $5.269M
YoY Change -11.29% -7.04%
% of Gross Profit 143.52% 149.14%
Research & Development $3.637M $3.702M
YoY Change -1.81% -0.08%
% of Gross Profit 109.32% 104.78%
Depreciation & Amortization $1.422M $1.541M
YoY Change -9.25% -4.88%
% of Gross Profit 42.74% 43.62%
Operating Expenses $9.834M $10.51M
YoY Change -7.7% -4.38%
Operating Profit -$6.507M -$6.979M
YoY Change 198.35% 115.14%
Interest Expense -$12.00K $26.00K
YoY Change -99.12% -101.62%
% of Operating Profit
Other Income/Expense, Net -$71.00K -$18.00K
YoY Change -573.33% -50.0%
Pretax Income -$6.369M -$6.929M
YoY Change 24.42% 22.36%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.369M -$6.929M
YoY Change 24.08% 22.31%
Net Earnings / Revenue -137.03% -134.81%
Basic Earnings Per Share -$0.54 -$0.66
Diluted Earnings Per Share -$0.54 -$0.66
COMMON SHARES
Basic Shares Outstanding 11.04M shares 9.602M shares
Diluted Shares Outstanding 11.83M shares 10.57M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.509M $5.628M
YoY Change -81.14% -12.3%
Cash & Equivalents $1.509M $5.628M
Short-Term Investments
Other Short-Term Assets $1.505M $2.055M
YoY Change -48.1% -38.68%
Inventory
Prepaid Expenses
Receivables $3.406M $3.824M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.420M $11.51M
YoY Change -69.73% -46.82%
LONG-TERM ASSETS
Property, Plant & Equipment $615.0K $701.0K
YoY Change -38.38% -37.24%
Goodwill $11.05M $11.05M
YoY Change -68.46% -68.46%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $504.0K $511.0K
YoY Change 6.11% 5.36%
Total Long-Term Assets $39.76M $41.48M
YoY Change -44.08% -43.2%
TOTAL ASSETS
Total Short-Term Assets $6.420M $11.51M
Total Long-Term Assets $39.76M $41.48M
Total Assets $46.18M $52.99M
YoY Change -49.98% -44.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.050M $2.338M
YoY Change -32.28% -30.06%
Accrued Expenses $4.360M $5.205M
YoY Change -23.51% -13.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.410M $7.543M
YoY Change -47.37% -54.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.855M $2.378M
YoY Change -40.16% -29.85%
Total Long-Term Liabilities $2.023M $2.546M
YoY Change -37.62% -28.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.410M $7.543M
Total Long-Term Liabilities $2.023M $2.546M
Total Liabilities $8.433M $10.09M
YoY Change -45.32% -50.01%
SHAREHOLDERS EQUITY
Retained Earnings -$350.3M -$343.9M
YoY Change 17.05% 16.93%
Common Stock $388.0M $386.8M
YoY Change 3.16% 4.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.75M $42.90M
YoY Change
Total Liabilities & Shareholders Equity $46.18M $52.99M
YoY Change -49.98% -44.03%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$6.369M -$6.929M
YoY Change 24.08% 22.31%
Depreciation, Depletion And Amortization $1.422M $1.541M
YoY Change -9.25% -4.88%
Cash From Operating Activities -$3.815M -$4.208M
YoY Change -347.73% 95.18%
INVESTING ACTIVITIES
Capital Expenditures $6.000K $7.000K
YoY Change -40.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.000K -$7.000K
YoY Change -109.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -298.0K 3.688M
YoY Change -1093.33% -1761.26%
NET CHANGE
Cash From Operating Activities -3.815M -4.208M
Cash From Investing Activities -6.000K -7.000K
Cash From Financing Activities -298.0K 3.688M
Net Change In Cash -4.119M -527.0K
YoY Change -362.36% -77.16%
FREE CASH FLOW
Cash From Operating Activities -$3.815M -$4.208M
Capital Expenditures $6.000K $7.000K
Free Cash Flow -$3.821M -$4.215M
YoY Change -349.74%

Facts In Submission

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The Company<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Smith Micro Software, Inc. (“Smith Micro” or “the Company”) provides software solutions that simplify and enhance the mobile experience to some of the leading wireless service providers around the globe. From delivering Digital Familly Lifestyle</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">TM</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> solutions to providing powerful voice messaging capabilities, the Company strives to enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer Internet of Things (“IoT”) devices. Smith Micro’s portfolio includes family safety software solutions to support families in the digital age and a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, retail content display optimization and performance analytics on any product set. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Smith Micro’s solution portfolio is comprised of proven products that enable its customers to provide:</span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In-demand digital services that connect today’s digital lifestyle, including family location services, parental controls, and consumer IoT devices to mobile consumers worldwide;</span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Easy visual access to voice messages on mobile devices through visual voicemail and voice-to-text transcription functionality; and</span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Strategic, consistent, and measurable digital demonstration experiences that educate retail shoppers, create awareness of products and services, drive in-store sales, and optimize retail experiences with actionable analytics derived from in-store customer behavior.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 3, 2024, the Company filed a certificate of amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a one-for-eight (1:8) reverse stock split of the shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), with an effective time of 11:59 p.m., Eastern Time on April 10, 2024 (the "Reverse Stock Split"). At the effective time, every eight shares of Common Stock, whether issued and outstanding or held by the Company as treasury stock were automatically combined and converted (without any further act) into one share of fully paid and nonassessable Common Stock, with any fractional shares resulting from the Reverse Stock Split rounded up to the nearest whole share. The number of outstanding shares of Common Stock was reduced from approximately 76.8 million shares to approximately 9.6 million shares due to the Reverse Stock Split. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Reverse Stock Split did not change the Company's authorized shares of Common Stock from 100,000,000 shares or the par value of the Common Stock. Proportionate adjustments were made to the per share exercise price and/or the number of shares issuable upon the exercise of stock options and the settlement of restricted stock awards and the number of shares authorized and reserved for issuance pursuant to the Company's equity incentive plans (see Note 9). Additionally, there were adjustments to the per share exercise price and the number of shares issuable upon exercise of warrants (see Note 5).</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All share and per share amounts for Common Stock (including share amounts underlying convertible securities and the applicable exercise prices of such convertible securities) in these consolidated financial statements and notes thereto have been retroactively adjusted for all periods presented to give effect to the Reverse Stock Split, including reclassifying an amount equal to the reduction in the number of shares of Common Stock at par value to additional paid-in capital.</span></div>
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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made to the prior year financial statements to conform to the current presentation.</span></div>
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CY2023Q1 smsi Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Value Including Derivative Liabilities And Contingent Consideration
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityValueIncludingDerivativeLiabilitiesAndContingentConsideration
1886000 usd
CY2023Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
-270000 usd
CY2023Q2 smsi Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Including Derivative Liabilities And Contingent Consideration Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIncludingDerivativeLiabilitiesAndContingentConsiderationGainLossIncludedInEarnings
-430000 usd
CY2023Q2 smsi Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss On Derecognition Of Debt
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossOnDerecognitionOfDebt
45000 usd
CY2023Q2 smsi Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Including Derivative Liabilities And Contingent Consideration Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIncludingDerivativeLiabilitiesAndContingentConsiderationSettlements
45000 usd
CY2023Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-217000 usd
CY2023Q2 smsi Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Value Including Derivative Liabilities And Contingent Consideration
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityValueIncludingDerivativeLiabilitiesAndContingentConsideration
1411000 usd
CY2024Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
24000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
53897000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
27632000 usd
CY2024Q2 smsi Finite Lived Intangible Assets Before Impairment
FiniteLivedIntangibleAssetsBeforeImpairment
26265000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
53897000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24365000 usd
CY2023Q4 smsi Finite Lived Intangible Assets Before Impairment
FiniteLivedIntangibleAssetsBeforeImpairment
29532000 usd
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P8Y
CY2023 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P9Y
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2669000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
5106000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4709000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3834000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2790000 usd
CY2024Q2 smsi Finite Lived Intangible Asset Expected Amortization Year Five And Thereafter
FiniteLivedIntangibleAssetExpectedAmortizationYearFiveAndThereafter
7157000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
26265000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-6929000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5665000 usd
us-gaap Net Income Loss
NetIncomeLoss
-37936000 usd
us-gaap Net Income Loss
NetIncomeLoss
-12551000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10567000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7807000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10016000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7466000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10567000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7807000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10016000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7466000 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1486000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1127000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
959000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1183000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.79
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.68
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.66
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.79
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.68
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1486000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1127000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
959000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1183000 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1138000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1030000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2272000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1975000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4000000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
100000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.89
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y4M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5140000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10338000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10938000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21268000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 businessunit
CY2024Q2 smsi Number Of Geographic Locations
NumberOfGeographicLocations
2 location
smsi Number Of Geographic Locations
NumberOfGeographicLocations
2 location
CY2023Q2 smsi Number Of Geographic Locations
NumberOfGeographicLocations
2 location
smsi Number Of Geographic Locations
NumberOfGeographicLocations
2 location
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5140000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10338000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10938000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21268000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
400000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
400000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
800000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
800000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1000000.0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
748000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1436000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
943000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
375000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
61000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3563000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
328000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3235000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M28D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
58500000 usd

Files In Submission

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0000948708-24-000026-index.html Edgar Link pending
0000948708-24-000026.txt Edgar Link pending
0000948708-24-000026-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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smsi-20240630.htm Edgar Link pending
smsi-20240630.xsd Edgar Link pending
smsi-2024331xexx3111.htm Edgar Link pending
smsi-2024331xexx3121.htm Edgar Link pending
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smsi-20240630_def.xml Edgar Link unprocessable
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