$SMSI
SMITH MICRO SOFTWARE, INC.

2017 Q2 Form 10-Q Financial Statement

#000156459017017634 Filed on August 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $5.862M $7.459M
YoY Change -21.41% -20.53%
Cost Of Revenue $1.290M $1.913M
YoY Change -32.57% -7.63%
Gross Profit $4.577M $5.547M
YoY Change -17.49% -24.17%
Gross Profit Margin 78.08% 74.37%
Selling, General & Admin $3.700M $5.348M
YoY Change -30.82% 5.01%
% of Gross Profit 80.84% 96.41%
Research & Development $2.170M $4.107M
YoY Change -47.16% 19.15%
% of Gross Profit 47.41% 74.04%
Depreciation & Amortization $230.0K $350.0K
YoY Change -34.29% -25.53%
% of Gross Profit 5.03% 6.31%
Operating Expenses $5.870M $9.455M
YoY Change -37.92% 10.71%
Operating Profit -$1.619M -$3.907M
YoY Change -58.56% 218.94%
Interest Expense -$390.0K -$2.000K
YoY Change 19400.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$17.00K
YoY Change -100.0%
Pretax Income -$1.950M -$3.269M
YoY Change -40.35% 166.86%
Income Tax $10.00K $11.00K
% Of Pretax Income
Net Earnings -$1.952M -$3.279M
YoY Change -40.47% 166.37%
Net Earnings / Revenue -33.3% -43.96%
Basic Earnings Per Share -$0.15 -$0.28
Diluted Earnings Per Share -$0.15 -$0.28
COMMON SHARES
Basic Shares Outstanding 13.18M 11.74M
Diluted Shares Outstanding 13.18M 11.74M

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.400M $7.130M
YoY Change -66.34% -37.97%
Cash & Equivalents $2.377M $6.410M
Short-Term Investments $720.0K
Other Short-Term Assets $800.0K $1.200M
YoY Change -33.33% 9.09%
Inventory $13.00K $24.00K
Prepaid Expenses
Receivables $4.711M $5.444M
Other Receivables $0.00 $100.0K
Total Short-Term Assets $7.853M $13.83M
YoY Change -43.21% -35.02%
LONG-TERM ASSETS
Property, Plant & Equipment $1.542M $1.904M
YoY Change -19.01% -43.43%
Goodwill $3.685M $1.874M
YoY Change 96.64%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $146.0K $199.0K
YoY Change -26.63% 2.05%
Total Long-Term Assets $5.989M $4.590M
YoY Change 30.48% 26.27%
TOTAL ASSETS
Total Short-Term Assets $7.853M $13.83M
Total Long-Term Assets $5.989M $4.590M
Total Assets $13.84M $18.42M
YoY Change -24.84% -26.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.296M $1.740M
YoY Change -25.52% 13.28%
Accrued Expenses $3.212M $5.007M
YoY Change -35.85% -1.11%
Deferred Revenue
YoY Change
Short-Term Debt $2.000M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.076M $7.816M
YoY Change -9.47% 15.18%
LONG-TERM LIABILITIES
Long-Term Debt $2.300M $0.00
YoY Change
Other Long-Term Liabilities $2.738M $2.970M
YoY Change -7.81% -18.09%
Total Long-Term Liabilities $6.298M $2.970M
YoY Change 112.05% -18.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.076M $7.816M
Total Long-Term Liabilities $6.298M $2.970M
Total Liabilities $13.37M $10.79M
YoY Change 23.99% 3.59%
SHAREHOLDERS EQUITY
Retained Earnings -$230.2M -$217.9M
YoY Change 5.66% 3.98%
Common Stock $230.7M $225.5M
YoY Change 2.29% 0.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $468.0K $7.631M
YoY Change
Total Liabilities & Shareholders Equity $13.84M $18.42M
YoY Change -24.84% -26.08%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$1.952M -$3.279M
YoY Change -40.47% 166.37%
Depreciation, Depletion And Amortization $230.0K $350.0K
YoY Change -34.29% -25.53%
Cash From Operating Activities -$2.140M -$3.960M
YoY Change -45.96% 76.0%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$60.00K
YoY Change -16.67% 50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$970.0K
YoY Change -100.0% 86.54%
Cash From Investing Activities -$50.00K -$1.040M
YoY Change -95.19% 85.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.100M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.060M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -2.140M -3.960M
Cash From Investing Activities -50.00K -1.040M
Cash From Financing Activities 2.060M 0.000
Net Change In Cash -130.0K -5.000M
YoY Change -97.4% 77.94%
FREE CASH FLOW
Cash From Operating Activities -$2.140M -$3.960M
Capital Expenditures -$50.00K -$60.00K
Free Cash Flow -$2.090M -$3.900M
YoY Change -46.41% 76.47%

Facts In Submission

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<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. (&#8220;Smith Micro,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;or&#8221;) develops software to simplify and enhance the mobile experience, providing solutions to leading wireless service providers, device manufacturers, and enterprise businesses around the world.&nbsp;&nbsp;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&#8217;s mission to help our customers thrive in a connected world.</p></div>
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 May 2017, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. The amendments in this ASU provide guidance about which changes to the terms or conditions of share-based payment award require an entity to apply modification accounting in Topic 718. Specifically, an entity should account for the effects of a modification unless all the following are met: (1) The fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the modified award is the same as the fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification; (2) The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (3)The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. This ASU is effective for those fiscal years, beginning after December 15, 2017. Early adoption is permitted and should be adopted on a prospective basis. The Company does not expect the adoption of this ASU to have a material impact on our financial statements and related disclosures.</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 2017, the FASB issued ASU No. 2017-04, <font style="font-style:italic;">Intangibles-Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment</font>.&nbsp;&nbsp;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.&nbsp;&nbsp;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.&nbsp;&nbsp;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.&nbsp;&nbsp;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 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, as well as 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.&nbsp;&nbsp;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.&#160; 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.&#160; It will also allow an employer to repurchase more of an employee&#8217;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.&#160; The guidance is effective for financial statements issued for annual periods beginning after December 15, 2016.&#160; Early adoption is permitted for all companies in any interim or annual period and must be adopted on a modified prospective approach.&nbsp;&nbsp;Due to the Company applying a full valuation allowance against its deferred tax assets, the nature of the change on the consolidated financial statements is not 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.&#160; 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.&#160; 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).&nbsp;&nbsp;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.&nbsp;&nbsp;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>.&nbsp;&nbsp;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>
us-gaap Substantial Doubt About Going Concern Managements Evaluation
SubstantialDoubtAboutGoingConcernManagementsEvaluation
In connection with preparing consolidated financial statements for the three and six months ended June 30, 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 ten consecutive quarters  Negative cash flow from operating activities for six 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 and June 30, 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 insiders  As a result of the Company’s restructurings that were implemented during the three months ended December 31, 2016, and again during the six months ended June 30, 2017, the Company’s cost structure is now in line with its future revenue projections. See Footnote 5 below for additional details regarding restructurings Management believes that the Company will generate enough cash from operations to satisfy its obligations for the next twelve months.
smsi Number Of Consecutive Period Of Operating Losses
NumberOfConsecutivePeriodOfOperatingLosses
P27M
smsi Number Of Consecutive Period Of Negative Cash Flows From Operating Activities
NumberOfConsecutivePeriodOfNegativeCashFlowsFromOperatingActivities
P15M
CY2017Q2 us-gaap Share Price
SharePrice
1.00
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
4000000
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
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.
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11632000
smsi Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount Due To Higher Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmountDueToHigherExercisePrice
368000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.60
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
388000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
405000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
834000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
765000
CY2016Q3 smsi Warrant Liability Fair Value Disclosure
WarrantLiabilityFairValueDisclosure
2100000
CY2017Q2 smsi Warrant Liability Fair Value Disclosure
WarrantLiabilityFairValueDisclosure
1100000
CY2017Q2 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
1600000
CY2016Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
1900000
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
2300000
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
1900000
CY2017Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
100000
CY2016Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
200000
smsi Number Of Financial Institutions In Which Securities Held
NumberOfFinancialInstitutionsInWhichSecuritiesHeld
2
us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
Three months or less
CY2017Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2100000
CY2016Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2100000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
882000
CY2017Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
266000
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1353000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
197000
CY2016Q4 smsi Finite Lived Intangible Assets Before Impairment
FiniteLivedIntangibleAssetsBeforeImpairment
1156000
CY2016 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
411000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
129000
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
249000
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
143000
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
47000
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
40000
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
8000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
smsi Number Of Geographic Location
NumberOfGeographicLocation
3
smsi Number Of Geographic Location
NumberOfGeographicLocation
3
us-gaap Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
Through 2022
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1194000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2417000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2020000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1719000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1721000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
33000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
9104000
CY2017Q2 smsi Accrued Lease Expenses
AccruedLeaseExpenses
3600000
CY2017Q2 smsi Operating Leases Expected Future Sublease Income
OperatingLeasesExpectedFutureSubleaseIncome
1900000
CY2017Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
600000
CY2016Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
500000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1000000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
800000
smsi Incentives Price Per Square Foot
IncentivesPricePerSquareFoot
40.00
smsi Lease Incentive Amount For Improvement Of Space
LeaseIncentiveAmountForImprovementOfSpace
2200000
smsi Lease Agreement Term
LeaseAgreementTerm
P10Y
CY2016Q3 smsi Funds To Be Repaid Under Agreement
FundsToBeRepaidUnderAgreement
300000
CY2016Q3 smsi Proceeds From Government Grant For Start Up New Facility
ProceedsFromGovernmentGrantForStartUpNewFacility
1000000
CY2016Q3 smsi Interest Rate Of Funds Under Agreement
InterestRateOfFundsUnderAgreement
0.00
CY2016Q3 smsi Number Of Equal Quarterly Installments
NumberOfEqualQuarterlyInstallments
20
CY2017Q2 smsi Funds To Be Repaid Under Agreement
FundsToBeRepaidUnderAgreement
300000
CY2016Q4 smsi Funds To Be Repaid Under Agreement
FundsToBeRepaidUnderAgreement
300000
us-gaap Debt Instrument Term
DebtInstrumentTerm
P3Y
CY2017Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.10
smsi Fair Value Of Warrant Discount
FairValueOfWarrantDiscount
2100000
CY2017Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.284
smsi Warrants Term
WarrantsTerm
P5Y
smsi Warrants Exercisable Beginning Date
WarrantsExercisableBeginningDate
2017-11-18
CY2017Q2 smsi Proceeds From Issuance Of Common Stock Gross
ProceedsFromIssuanceOfCommonStockGross
2300000
CY2017Q2 smsi Common Stock Issuance Costs
CommonStockIssuanceCosts
200000
CY2017Q2 smsi Transaction Fees On Sale Of Common Stock
TransactionFeesOnSaleOfCommonStock
100000
CY2017Q2 smsi Legal And Other Expenses
LegalAndOtherExpenses
100000
CY2017Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2100000
CY2017Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
76300000

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