10-Q · May 1, 2026
Smith Micro Software, Inc. reported Q1 2026 revenue of $4.2 million, a 9% decrease from the previous year and below the consensus estimate. The company reported an EPS loss of $0.15, also missing expectations, while…
Earnings analysis · 10-Q
SMSI earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
Smith Micro reported $4.341 million of revenue and a GAAP loss of $0.52 per share, missing consensus estimates of $4.84 million and a $0.13 loss per share. Operating performance improved through an 81.3% gross margin…
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Smith Micro reported $4.341 million of revenue and a GAAP loss of $0.52 per share, missing consensus estimates of $4.84 million and a $0.13 loss per share. Operating performance improved through an 81.3% gross margin and a reduction in GAAP net loss to $2.735 million from $15.062 million, but the company remains unprofitable and provided no quantitative forward guidance. Management cited 2 customers ready to launch and multiple contracts under negotiation, supporting a cautiously neutral outlook.
Reported figures
- Earnings per share
- $-0.52
- Gross margin
- 81.3%
What stood out
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Revenue and EPS Missed Estimates
Revenue was $4.341 million, $0.499 million below the $4.84 million consensus estimate, while GAAP EPS was a $0.52 loss versus the $0.13 loss expected.
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Gross Margin Expanded
Gross margin increased to 81.3% from 73.5% in the prior-year quarter, a 7.8 percentage-point improvement.
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Net Loss Narrowed
GAAP net loss narrowed to $2.735 million from $15.062 million in the prior-year quarter, an improvement of $12.327 million.
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New Customer Launches Pending
Management reported 2 new customers ready to launch and multiple contracts under negotiation, providing potential support for future revenue.
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Equity Withholding Repurchases
The company repurchased 19,501 shares at an average price of $3.88 per share during the quarter, with the shares acquired for withholding taxes and cancelled.
What to watch
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Revenue Shortfall
Revenue of $4.341 million was $0.499 million below the $4.84 million consensus estimate, indicating continued demand and execution risk.
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Continued GAAP Losses
The company reported a GAAP net loss of $2.735 million and GAAP EPS of negative $0.52, so profitability remains unresolved despite improvement from the $15.062 million prior-year loss.
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No New Risk Factors; Losses Persist
Item 1A states that there were no material changes to the risk factors in the 2025 Form 10-K; therefore, the filing does not identify a new specific risk-factor development, while the company’s $2.735 million quarterly net loss underscores ongoing financial pressure.
Management's outlook
No specific numerical guidance was provided. Management stated that 2 new customers were ready to launch and that multiple contracts were under negotiation.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.