SMITH MICRO SOFTWARE INC
For the period ended Jun 30, 2024. Filed Aug 5, 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.
Jun 30, 2024 · Filed Aug 5, 2024
SMSI$2.28+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands, except per share data)
| For the Three Months EndedJune 30, | For the Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | |
| Revenues | $5,140 | $10,338 | $10,938 | $21,268 |
| Cost of revenues (including depreciation of $4, $13, $11, and $27 in the three and six months ended June 30, 2024 and 2023, respectively) | 1,607 | 2,589 | 3,595 | 5,871 |
| Gross profit | 3,533 | 7,749 | 7,343 | 15,397 |
| Operating expenses: | ||||
| Selling and marketing | 2,529 | 2,628 | 5,143 | 6,182 |
| Research and development | 3,702 | 3,705 | 7,691 | 9,573 |
| General and administrative | 2,740 | 3,040 | 5,496 | 6,515 |
| Depreciation and amortization | 1,541 | 1,620 | 3,449 | 3,305 |
| Goodwill impairment | — | — | 23,989 | — |
| Total operating expenses | 10,512 | 10,993 | 45,768 | 25,575 |
| Operating loss | (6,979) | (3,244) | (38,425) | (10,178) |
| Other income (expense): | ||||
| Change in fair value of warrant and derivative liabilities | 42 | 429 | 227 | 3,413 |
| Loss on derecognition of debt | — | (775) | — | (1,402) |
| Interest income (expense), net | 26 | (2,037) | 100 | (4,297) |
| Other (expense) income, net | (18) | (36) | 201 | (76) |
| Loss before provision for income taxes | (6,929) | (5,663) | (37,897) | (12,540) |
| Provision for income tax expense | — | 2 | 39 | 11 |
| Net loss | $(6,929) | $(5,665) | $(37,936) | $(12,551) |
| Loss per share: | ||||
| Basic and diluted | $(0.66) | $(0.73) | $(3.79) | $(1.68) |
| Weighted average shares outstanding: | ||||
| Basic and diluted | 10,567 | 7,807 | 10,016 | 7,466 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
| Common Stock · Additional Paid-in Capital · Accumulated Comprehensive Deficit · Total | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| BALANCE, March 31, 2024 (unaudited) | 9,602 | $10 | $382,387 | $(336,955) | $45,442 |
| Non-cash compensation recognized on stock options and employee stock purchase plan ("ESPP") | — | — | 4 | — | 4 |
| Restricted stock grants, net of cancellations | — | — | 1,133 | — | 1,133 |
| Cancellation of shares for payment of withholding tax | (42) | — | (99) | — | (99) |
| Issuance of Common Stock, Warrants, and Pre-Funded Warrants in connection with Common Stock Offering, net of issuance costs | 1,065 | 1 | 3,350 | — | 3,351 |
| Net loss | — | — | — | (6,929) | (6,929) |
| BALANCE, June 30, 2024 (unaudited) | 10,625 | $11 | $386,775 | $(343,884) | $42,902 |
| Common Stock · Additional Paid-in Capital · Accumulated Comprehensive Deficit · Total | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| BALANCE, December 31, 2023 (audited) | 9,348 | $9 | $381,329 | $(305,948) | $75,390 |
| Non-cash compensation recognized on stock options and ESPP | — | — | 9 | — | 9 |
| Restricted stock grants, net of cancellations | 266 | 1 | 2,263 | — | 2,264 |
| Cancellation of shares for payment of withholding tax | (55) | — | (178) | — | (178) |
| ESPP shares issued | 1 | — | 2 | — | 2 |
| Issuance of Common Stock, Warrants, and Pre-Funded Warrants in connection with Common Stock Offering, net of issuance costs | 1,065 | 1 | 3,350 | — | 3,351 |
| Net loss | — | — | — | (37,936) | (37,936) |
| BALANCE, June 30, 2024 (unaudited) | 10,625 | $11 | $386,775 | $(343,884) | $42,902 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
| Common Stock · Additional Paid-in Capital · Accumulated Comprehensive Deficit · Total | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| BALANCE, March 31, 2023 (unaudited) | 7,575 | $8 | $362,315 | $(288,438) | $73,885 |
| Non-cash compensation recognized on stock options and employee stock purchase plan ("ESPP") | — | — | 6 | — | 6 |
| Restricted stock grants, net of cancellations | — | — | 1,024 | — | 1,024 |
| Cancellation of shares for payment of withholding tax | (9) | — | (80) | — | (80) |
| Common shares issued in settlement and prepayment of notes payable | 585 | — | 5,319 | — | 5,319 |
| Net loss | — | — | — | (5,665) | (5,665) |
| BALANCE, June 30, 2023 (unaudited) | 8,151 | $8 | $368,584 | $(294,103) | $74,489 |
| Common Stock · Additional Paid-in Capital · Accumulated Comprehensive Deficit · Total | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| BALANCE, December 31, 2022 (audited) | 7,025 | $7 | $357,924 | $(281,552) | $76,379 |
| Non-cash compensation recognized on stock options and ESPP | — | — | 17 | — | 17 |
| Restricted stock grants, net of cancellations | 158 | — | 1,959 | — | 1,959 |
| Cancellation of shares for payment of withholding tax | (22) | — | (291) | — | (291) |
| ESPP shares issued | 1 | — | 8 | — | 8 |
| Common shares issued in settlement and prepayment of notes payable | 989 | 1 | 8,967 | — | 8,968 |
| Net loss | — | — | — | (12,551) | (12,551) |
| BALANCE, June 30, 2023 (unaudited) | 8,151 | $8 | $368,584 | $(294,103) | $74,489 |
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