$SMSI
SMITH MICRO SOFTWARE, INC.

2021 Q3 Form 10-Q Financial Statement

#000156459021056694 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $16.44M $12.63M
YoY Change 30.2% 7.19%
Cost Of Revenue $3.692M $1.330M
YoY Change 177.59% 31.55%
Gross Profit $12.75M $11.30M
YoY Change 12.81% 4.94%
Gross Profit Margin 77.55% 89.5%
Selling, General & Admin $8.189M $5.180M
YoY Change 58.09% 23.66%
% of Gross Profit 64.22% 45.83%
Research & Development $7.159M $5.080M
YoY Change 40.93% 65.85%
% of Gross Profit 56.14% 44.94%
Depreciation & Amortization $3.391M $1.020M
YoY Change 232.45% 218.75%
% of Gross Profit 26.59% 9.02%
Operating Expenses $18.35M $11.09M
YoY Change 65.45% 52.11%
Operating Profit -$5.597M $196.0K
YoY Change -2955.61% -94.37%
Interest Expense -$12.86M $10.00K
YoY Change -128730.0% -88.89%
% of Operating Profit 5.1%
Other Income/Expense, Net -$2.000K $0.00
YoY Change
Pretax Income -$18.46M $210.0K
YoY Change -8891.43% -94.11%
Income Tax $145.0K $50.00K
% Of Pretax Income 23.81%
Net Earnings -$18.61M $161.0K
YoY Change -11657.14% -95.49%
Net Earnings / Revenue -113.16% 1.27%
Basic Earnings Per Share -$0.34 $0.00
Diluted Earnings Per Share -$0.34 $0.00
COMMON SHARES
Basic Shares Outstanding 53.94M 41.35M
Diluted Shares Outstanding 53.94M 43.03M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.37M $25.90M
YoY Change 24.99% 8.37%
Cash & Equivalents $32.37M $25.87M
Short-Term Investments
Other Short-Term Assets $1.926M $1.300M
YoY Change 48.15% 62.5%
Inventory
Prepaid Expenses
Receivables $12.62M $9.800M
Other Receivables $0.00 $0.00
Total Short-Term Assets $46.91M $37.00M
YoY Change 26.79% 3.58%
LONG-TERM ASSETS
Property, Plant & Equipment $9.263M $8.300M
YoY Change 11.6% 496.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $700.0K $500.0K
YoY Change 40.0% 109.21%
Total Long-Term Assets $87.79M $34.60M
YoY Change 153.74% 66.03%
TOTAL ASSETS
Total Short-Term Assets $46.91M $37.00M
Total Long-Term Assets $87.79M $34.60M
Total Assets $134.7M $71.60M
YoY Change 88.14% 26.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.326M $1.900M
YoY Change 127.68% 23.7%
Accrued Expenses $19.98M $4.400M
YoY Change 354.18% 25.71%
Deferred Revenue $700.0K $1.600M
YoY Change -56.25% 1423.81%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.01M $7.800M
YoY Change 220.65% 51.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.818M $6.100M
YoY Change -4.62% 3939.74%
Total Long-Term Liabilities $5.818M $6.100M
YoY Change -4.62% -8.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.01M $7.800M
Total Long-Term Liabilities $5.818M $6.100M
Total Liabilities $30.89M $13.90M
YoY Change 122.22% 18.08%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.8M $57.63M
YoY Change
Total Liabilities & Shareholders Equity $134.7M $71.60M
YoY Change 88.14% 26.59%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$18.61M $161.0K
YoY Change -11657.14% -95.49%
Depreciation, Depletion And Amortization $3.391M $1.020M
YoY Change 232.45% 218.75%
Cash From Operating Activities $779.0K $3.940M
YoY Change -80.23% -38.34%
INVESTING ACTIVITIES
Capital Expenditures -$402.0K -$360.0K
YoY Change 11.67% -32.08%
Acquisitions
YoY Change
Other Investing Activities $5.000K -$1.340M
YoY Change -100.37% -13500.0%
Cash From Investing Activities -$397.0K -$1.700M
YoY Change -76.65% 220.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.054M 10.00K
YoY Change 20440.0% -99.91%
NET CHANGE
Cash From Operating Activities 779.0K 3.940M
Cash From Investing Activities -397.0K -1.700M
Cash From Financing Activities 2.054M 10.00K
Net Change In Cash 2.436M 2.250M
YoY Change 8.27% -86.96%
FREE CASH FLOW
Cash From Operating Activities $779.0K $3.940M
Capital Expenditures -$402.0K -$360.0K
Free Cash Flow $1.181M $4.300M
YoY Change -72.53% -37.86%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
smsi Cumulative Loss Period
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<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”, the “Company”, “we”, “us”, or “our”) develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless and cable service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, we strive to enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. Our portfolio includes 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.</p>
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us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company leases office space and equipment, and certain office space is subleased. Management determines if a contract is a lease at the inception of the arrangement and reviews all options to extend, terminate, or purchase its right-of-use assets at the inception of the lease and accounts for these options when they are reasonably certain of being exercised.
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OutstandingTaxAudit
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Files In Submission

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