SMITH MICRO SOFTWARE INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
SMSI$2.28+1.3%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(in thousands, except per share data)
| For the Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | (unaudited) | |
| Revenues | $5,798 | $10,930 |
| Cost of revenues (including depreciation of $6 and $14 in the three months ended March 31, 2024 and 2023, respectively) | 1,988 | 3,282 |
| Gross profit | 3,810 | 7,648 |
| Operating expenses: | ||
| Selling and marketing | 2,614 | 3,554 |
| Research and development | 3,989 | 5,868 |
| General and administrative | 2,756 | 3,475 |
| Depreciation and amortization | 1,908 | 1,686 |
| Goodwill impairment | 23,989 | — |
| Total operating expenses | 35,256 | 14,583 |
| Operating loss | (31,446) | (6,935) |
| Other income (expense): | ||
| Change in fair value of warrant and derivative liabilities | 185 | 2,984 |
| Loss on derecognition of debt | — | (627) |
| Interest income (expense), net | 74 | (2,260) |
| Other income (expense), net | 219 | (40) |
| Loss before provision for income taxes | (30,968) | (6,878) |
| Provision for income tax expense | 39 | 9 |
| Net loss | $(31,007) | $(6,887) |
| Loss per share: | ||
| Basic and diluted * | $(3.28) | $(0.97) |
| Weighted average shares outstanding: | ||
| Basic and diluted * | 9,466 | 7,121 |
| *After giving effect to the Reverse Stock Split. | ||
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