2017 Q1 Form 10-Q Financial Statement
#000156459017008687 Filed on May 04, 2017
Income Statement
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| Revenue | $5.576M | $7.214M |
| YoY Change | -22.71% | -31.48% |
| Cost Of Revenue | $1.283M | $2.113M |
| YoY Change | -39.28% | -0.24% |
| Gross Profit | $4.293M | $5.101M |
| YoY Change | -15.84% | -39.35% |
| Gross Profit Margin | 76.99% | 70.71% |
| Selling, General & Admin | $3.982M | $4.856M |
| YoY Change | -18.0% | -4.18% |
| % of Gross Profit | 92.76% | 95.2% |
| Research & Development | $2.497M | $3.923M |
| YoY Change | -36.35% | 17.42% |
| % of Gross Profit | 58.16% | 76.91% |
| Depreciation & Amortization | $230.0K | $430.0K |
| YoY Change | -46.51% | -14.0% |
| % of Gross Profit | 5.36% | 8.43% |
| Operating Expenses | $6.871M | $8.779M |
| YoY Change | -21.73% | 4.4% |
| Operating Profit | -$2.578M | -$3.679M |
| YoY Change | -29.93% | -184050.0% |
| Interest Expense | -$344.0K | $1.000K |
| YoY Change | -34500.0% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$10.00K | -$2.000K |
| YoY Change | 400.0% | 100.0% |
| Pretax Income | -$2.872M | -$3.680M |
| YoY Change | -21.96% | -368100.0% |
| Income Tax | $8.000K | $26.00K |
| % Of Pretax Income | ||
| Net Earnings | -$2.880M | -$3.706M |
| YoY Change | -22.29% | 36960.0% |
| Net Earnings / Revenue | -51.65% | -51.37% |
| Basic Earnings Per Share | -$0.24 | -$0.32 |
| Diluted Earnings Per Share | -$0.24 | -$0.32 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 12.16M | 11.52M |
| Diluted Shares Outstanding | 12.16M | 11.52M |
Balance Sheet
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $2.500M | $13.08M |
| YoY Change | -80.88% | -5.08% |
| Cash & Equivalents | $2.504M | $11.40M |
| Short-Term Investments | $1.679M | |
| Other Short-Term Assets | $500.0K | $900.0K |
| YoY Change | -44.44% | 28.57% |
| Inventory | $13.00K | $27.00K |
| Prepaid Expenses | ||
| Receivables | $4.700M | $5.459M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $7.700M | $19.48M |
| YoY Change | -60.46% | -12.24% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.700M | $2.150M |
| YoY Change | -20.93% | -43.41% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $100.0K | $196.0K |
| YoY Change | -48.98% | -11.31% |
| Total Long-Term Assets | $6.200M | $2.346M |
| YoY Change | 164.28% | -42.7% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $7.700M | $19.48M |
| Total Long-Term Assets | $6.200M | $2.346M |
| Total Assets | $13.90M | $21.82M |
| YoY Change | -36.3% | -16.98% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.600M | $1.480M |
| YoY Change | 8.11% | -10.84% |
| Accrued Expenses | $3.300M | $5.539M |
| YoY Change | -40.42% | 7.99% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $2.000M | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $7.600M | $8.126M |
| YoY Change | -6.47% | 12.96% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $2.100M | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $3.400M | $3.110M |
| YoY Change | 9.32% | -17.42% |
| Total Long-Term Liabilities | $5.500M | $3.110M |
| YoY Change | 76.85% | -17.42% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $7.600M | $8.126M |
| Total Long-Term Liabilities | $5.500M | $3.110M |
| Total Liabilities | $13.20M | $11.24M |
| YoY Change | 17.48% | 2.52% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$214.6M | |
| YoY Change | 3.02% | |
| Common Stock | $225.2M | |
| YoY Change | 0.7% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $600.0K | $10.59M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $13.90M | $21.82M |
| YoY Change | -36.3% | -16.98% |
Cashflow Statement
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$2.880M | -$3.706M |
| YoY Change | -22.29% | 36960.0% |
| Depreciation, Depletion And Amortization | $230.0K | $430.0K |
| YoY Change | -46.51% | -14.0% |
| Cash From Operating Activities | -$1.714M | $260.0K |
| YoY Change | -759.23% | -64.86% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$10.00K | -$90.00K |
| YoY Change | -88.89% | 350.0% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $2.400M | |
| YoY Change | -360.87% | |
| Cash From Investing Activities | -$13.00K | $2.320M |
| YoY Change | -100.56% | -346.81% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 2.002M | 10.00K |
| YoY Change | 19920.0% | -50.0% |
| NET CHANGE | ||
| Cash From Operating Activities | -1.714M | 260.0K |
| Cash From Investing Activities | -13.00K | 2.320M |
| Cash From Financing Activities | 2.002M | 10.00K |
| Net Change In Cash | 275.0K | 2.590M |
| YoY Change | -89.38% | -1538.89% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$1.714M | $260.0K |
| Capital Expenditures | -$10.00K | -$90.00K |
| Free Cash Flow | -$1.704M | $350.0K |
| YoY Change | -586.86% | -53.95% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2016Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
2113000 | |
| CY2016Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
2370000 | |
| CY2016Q1 | us-gaap |
Gross Profit
GrossProfit
|
5101000 | |
| CY2017Q1 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
1000 | |
| CY2016Q4 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
1000 | |
| CY2017Q1 | us-gaap |
Inventory Net
InventoryNet
|
13000 | |
| CY2016Q4 | us-gaap |
Inventory Net
InventoryNet
|
12000 | |
| CY2017Q1 | smsi |
Discount And Issuance Costs On Related Parties Notes Payable
DiscountAndIssuanceCostsOnRelatedPartiesNotesPayable
|
938000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2017Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-344000 | |
| CY2016Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
1000 | |
| CY2017Q1 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
10000 | |
| CY2016Q1 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
3000 | |
| CY2017Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
8000 | |
| CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2232000 | |
| CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3706000 | |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
2000 | |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
2000 | |
| CY2017Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-2232000 | |
| CY2016Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3704000 | |
| CY2017Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.18 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.32 | |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
12163000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
11524000 | |
| CY2017Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
13000 | |
| CY2017Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
433000 | |
| CY2017Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
72000 | |
| CY2017Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
2000 | |
| CY2017Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
234000 | |
| CY2016Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
426000 | |
| CY2017Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
190000 | |
| CY2017Q1 | smsi |
Increase Decrease In Reserves Against Accounts Receivable
IncreaseDecreaseInReservesAgainstAccountsReceivable
|
74000 | |
| CY2016Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
3000 | |
| CY2016Q1 | smsi |
Gain Loss On Disposal Of Fixed Assets
GainLossOnDisposalOfFixedAssets
|
-2000 | |
| CY2017Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
446000 | |
| CY2016Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
361000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-183000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-2686000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1000 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
12297954 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12297954 | |
| CY2016Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
8779000 | |
| CY2017Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
12116156 | |
| CY2017Q1 | us-gaap |
Gross Profit
GrossProfit
|
4293000 | |
| CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2578000 | |
| CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3678000 | |
| CY2017Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1793000 | |
| CY2017Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
1283000 | |
| CY2017Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2497000 | |
| CY2017Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2189000 | |
| CY2017Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
6871000 | |
| CY2016Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
197000 | |
| CY2016Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
148000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2224000 | |
| CY2016Q4 | smsi |
Discount And Issuance Costs On Related Parties Notes Payable
DiscountAndIssuanceCostsOnRelatedPartiesNotesPayable
|
1033000 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2017Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
392000 | |
| CY2017Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-708000 | |
| CY2016Q4 | smsi |
Discount And Issuance Costs On Long Term Notes Payable
DiscountAndIssuanceCostsOnLongTermNotesPayable
|
1033000 | |
| CY2016Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3923000 | |
| CY2017Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
148000 | |
| CY2017Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2017Q1 | smsi |
Discount And Issuance Costs On Long Term Notes Payable
DiscountAndIssuanceCostsOnLongTermNotesPayable
|
938000 | |
| CY2017Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
5576000 | |
| CY2017Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12116156 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
| CY2016Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
7214000 | |
| CY2016Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3680000 | |
| CY2016Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
26000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-9000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
208000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-13000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-209000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-695000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
17000 | |
| CY2017Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
586000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
667000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1714000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
257000 | |
| CY2017Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
13000 | |
| CY2016Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
86000 | |
| CY2016Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
2401000 | |
| CY2016Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
21000 | |
| CY2017Q1 | us-gaap |
Interest Paid
InterestPaid
|
120000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
2315000 | |
| CY2017Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
2000 | |
| CY2016Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
7000 | |
| CY2017Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
2000000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
2002000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
7000 | |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
275000 | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
2579000 | |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8819000 | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
11398000 | |
| CY2017Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
2000 | |
| CY2017Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. The Company</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Smith Micro Software, Inc. (“Smith Micro,” “Company,” “we,” “us,” and “or”) develops software to simplify and enhance the mobile experience, providing solutions to leading wireless service providers, device manufacturers, and enterprise businesses around the world. From optimizing wireless networks to uncovering customer experience insights, and from streamlining Wi-Fi access to ensuring family safety, our solutions enrich connected lifestyles, while creating new opportunities to engage consumers via smartphones. Our portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual messaging, video streaming, and 2D/3D graphics applications. With this as a focus, it is Smith Micro’s mission to help our customers thrive in a connected world.</p></div> | |
| CY2017Q1 | us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">3. Recently Issued Accounting Pronouncements not yet Adopted</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, <font style="font-style:italic;">Intangibles-Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment</font>. Currently, Topic 350 requires an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. To address concerns over the cost and complexity of the two-step goodwill impairment test, the amendments in this Update remove the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. A public business entity SEC filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The Company will be evaluating the impact of this guidance on our consolidated financial statements.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2016, the FASB issued ASU No. 2016-15, <font style="font-style:italic;">Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments</font>, to reduce the existing diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. Amendments in this update are effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. The Company will be evaluating the impact of this guidance on our consolidated financial statements.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the FASB issued final guidance in ASU No. 2016-09, <font style="font-style:italic;">Improvements to Employee Share-Based Payment Accounting</font>, which will change certain aspects of accounting for share-based payments to employees.  The new guidance will require all income tax effects of awards to be recognized in the income statement when the awards vest or are settled.  It will also allow an employer to repurchase more of an employee’s shares than it currently can for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur.  The guidance is effective for financial statements issued for annual periods beginning after December 15, 2016.  Early adoption is permitted for all companies in any interim or annual period and must be adopted on a modified prospective approach. Due to the Company applying a full valuation allowance against its deferred tax assets, the nature of the change on the consolidated financial statements will not be material.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU No. 2016-02, <font style="font-style:italic;">Leases (Topic 842)</font>, to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). The ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted.  Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption.  The Company will be evaluating the impact of this guidance on our consolidated financial statements.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2016, the FASB issued ASU No. 2016-01, <font style="font-style:italic;">Financial Instruments-Overall (Topic 825-10)</font>. The Amendments to this Update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this Update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this Update requires disclosure of the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application by public business entities to financial statements of fiscal years or interim periods that have not yet been issued or, by all other entities, that have not yet been made available for issuance of the following amendments in this Update are permitted as of the beginning of the fiscal year of adoption - an entity should present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk if the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The Company will be evaluating the impact of this guidance on our consolidated financial statements.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2014, the FASB issued ASU No. 2014-09, <font style="font-style:italic;">Revenue from Contracts with Customers (Topic 606)</font>. The amendments to this Update supersede nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of this Topic is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. This Topic defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing U.S. GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. In July 2015, the FASB deferred the effective date for annual reporting periods beginning after December 15, 2017 (including interim reporting periods within those periods). Early adoption is permitted to the original effective date of December 15, 2016 (including interim reporting periods within those periods). The amendments may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application. The Company will be evaluating the impact of this guidance on our consolidated financial statements.</p></div> | |
| CY2017Q1 | us-gaap |
Substantial Doubt About Going Concern Managements Evaluation
SubstantialDoubtAboutGoingConcernManagementsEvaluation
|
In connection with preparing consolidated financial statements for the three months ended March 31, 2017, management evaluated whether there were conditions and events, considered in the aggregate, that raised substantial doubt about the Company’s ability to continue as a going concern within one year from the date that the financial statements are issued. The Company considered the following: Operating losses for eight consecutive quarters. Negative cash flow from operating activities for four consecutive quarters. Depressed stock price resulting in being non-compliant with NASDAQ listing rules to maintain a stock price of $1.00/share. Stockholders’ equity being less than $2.5 million at March 31, 2017 resulting in being non-compliant with NASDAQ listing rules. Ordinarily, conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern relate to the entity’s ability to meet its obligations as they become due. The Company evaluated its ability to meet its obligations as they become due within one year from the date that the financial statements are issued by considering the following: The Company raised $4.0 million of debt financing during the year ended December 31, 2016. The Company has been able to raise capital from short-term loans from its Board members. As a result of the Company’s restructuring that was implemented during the three months ended December 31, 2016, and again during the three months ended March 31, 2017, the Company’s cost structure is now in line with its current baseline revenue projections going forward. See Footnote 6 below for additional details regarding restructuring. Management believes that the Company will generate enough cash from operations to satisfy its obligations for the next twelve months. | |
| CY2017Q1 | smsi |
Number Of Consecutive Period Of Operating Losses
NumberOfConsecutivePeriodOfOperatingLosses
|
P24M | |
| CY2017Q1 | smsi |
Number Of Consecutive Period Of Negative Cash Flows From Operating Activities
NumberOfConsecutivePeriodOfNegativeCashFlowsFromOperatingActivities
|
P12M | |
| CY2017Q1 | us-gaap |
Share Price
SharePrice
|
1.00 | |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
4000000 | |
| CY2017Q1 | us-gaap |
Substantial Doubt About Going Concern Managements Plans Substantial Doubt Not Alleviated
SubstantialDoubtAboutGoingConcernManagementsPlansSubstantialDoubtNotAlleviated
|
The Company will take the following actions if it starts to trend unfavorable to its internal profitability and cash flow projections, in order to mitigate conditions or events that would raise substantial doubt about its ability to continue as a going concern: Raise additional capital through short-term loans. Implement additional restructuring and cost reductions. Raise additional capital through a private placement. Secure a commercial bank line of credit. Dispose of one or more product lines. Sell or license intellectual property. | |
| CY2016Q3 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.25 | |
| CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2016Q3 | smsi |
Stockholders Equity Reverse Stock Split Effective Date
StockholdersEquityReverseStockSplitEffectiveDate
|
2016-08-17 | |
| CY2017Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
Common stock at a ratio of one (1) share for every four (4) shares outstanding, so that every four (4) outstanding shares of common stock before the Reverse Split represents one (1) share of common stock after the Reverse Split. | |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12163000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11524000 | |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12163000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11524000 | |
| CY2017Q1 | smsi |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount Due To Higher Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmountDueToHigherExercisePrice
|
1908000 | |
| CY2016Q1 | smsi |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount Due To Higher Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmountDueToHigherExercisePrice
|
401000 | |
| CY2017Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.18 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.32 | |
| CY2017Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.18 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.32 | |
| CY2016Q3 | smsi |
Warrant Liability Fair Value Disclosure
WarrantLiabilityFairValueDisclosure
|
2100000 | |
| CY2017Q1 | smsi |
Warrant Liability Fair Value Disclosure
WarrantLiabilityFairValueDisclosure
|
502000 | |
| CY2017Q1 | us-gaap |
Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
|
1700000 | |
| CY2016Q4 | us-gaap |
Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
|
1900000 | |
| CY2017Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
2124000 | |
| CY2016Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
1900000 | |
| CY2017Q1 | us-gaap |
Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
|
200000 | |
| CY2016Q4 | us-gaap |
Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
|
200000 | |
| CY2017Q1 | smsi |
Number Of Financial Institutions In Which Securities Held
NumberOfFinancialInstitutionsInWhichSecuritiesHeld
|
2 | |
| CY2017Q1 | us-gaap |
Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
|
Three months or less | |
| CY2017Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
2200000 | |
| CY2016Q4 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
2100000 | |
| CY2017Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | |
| CY2017Q1 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
| CY2016 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
882000 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
202000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
2396000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
2005000 | |
| CY2016Q4 | smsi |
Finite Lived Intangible Assets Before Impairment
FiniteLivedIntangibleAssetsBeforeImpairment
|
1156000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
1779000 | |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1353000 | |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
197000 | |
| CY2016 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
411000 | |
| CY2017Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
100000 | |
| CY2016Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
0 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
194000 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
249000 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
143000 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
46000 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
40000 | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
8000 | |
| CY2017Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | |
| CY2017Q1 | smsi |
Number Of Geographic Location
NumberOfGeographicLocation
|
3 | |
| CY2016Q1 | smsi |
Number Of Geographic Location
NumberOfGeographicLocation
|
3 | |
| CY2017Q1 | us-gaap |
Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
|
Through 2022 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
1707000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
1710000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
33000 | |
| CY2017Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
9630000 | |
| CY2017Q1 | smsi |
Accrued Lease Expenses
AccruedLeaseExpenses
|
3800000 | |
| CY2017Q1 | smsi |
Operating Leases Expected Future Sublease Income
OperatingLeasesExpectedFutureSubleaseIncome
|
2000000 | |
| CY2017Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
400000 | |
| CY2016Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
300000 | |
| CY2017Q1 | smsi |
Incentives Price Per Square Foot
IncentivesPricePerSquareFoot
|
40.00 | |
| CY2017Q1 | smsi |
Lease Incentive Amount For Improvement Of Space
LeaseIncentiveAmountForImprovementOfSpace
|
2200000 | |
| CY2017Q1 | smsi |
Lease Agreement Term
LeaseAgreementTerm
|
P10Y | |
| CY2016Q3 | smsi |
Funds To Be Repaid Under Agreement
FundsToBeRepaidUnderAgreement
|
300000 | |
| CY2016Q3 | smsi |
Interest Rate Of Funds Under Agreement
InterestRateOfFundsUnderAgreement
|
0.00 | |
| CY2016Q3 | smsi |
Number Of Equal Quarterly Installments
NumberOfEqualQuarterlyInstallments
|
20 | |
| CY2017Q1 | smsi |
Funds To Be Repaid Under Agreement
FundsToBeRepaidUnderAgreement
|
300000 | |
| CY2016Q4 | smsi |
Funds To Be Repaid Under Agreement
FundsToBeRepaidUnderAgreement
|
300000 | |
| CY2017Q1 | smsi |
Repayment Of Funds Under Agreement Paid On First Installment
RepaymentOfFundsUnderAgreementPaidOnFirstInstallment
|
17133000 | |
| CY2017Q1 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P3Y | |
| CY2017Q1 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.10 | |
| CY2017Q1 | smsi |
Fair Value Of Warrant Discount
FairValueOfWarrantDiscount
|
2100000 | |
| CY2017Q1 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.284 | |
| CY2017Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
76300000 |
