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Smith Micro Software cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$943K in Q2 2026 · −$9.1M over twelve months

Operating cash flow−$882K
Capital spending−$61K
Free cash flow−$943K
Cash conversion cycle-133 days

Analysis

In Q2 2026, Smith Micro Software generated −$882K of operating cash flow and spent $61K on capital projects, leaving free cash flow of −$943K. That is $1.4M more than in Q2 2025 (−$2.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$9.0M; the largest uses were operating cash flow ($9.0M), capital spending ($129K); besides operations, cash came from other financing ($5.2M), shares issued ($4.9M); the cash balance rose by $1.4M.

Operating cash flow was −$882K against net income of −$2.6M. The largest differences: depreciation & amortization +$1.3M, receivables +$285K, stock-based pay +$171K.

Its cash conversion cycle was -133 days (receivables 58 + inventory 0 − payables 191): suppliers fund its working capital.

Free cash flow

Smith Micro Software: free cash flow by quarterSmith Micro Software: free cash flow by quarter−$3.8MQ3 2024−$4.9MQ4 2024−$606KQ1 2025−$2.3MQ2 2025−$2.2MQ3 2025−$2.2MQ4 2025−$3.8MQ1 2026−$943KQ2 2026
Operating cash flow less capital spending.
Smith Micro Software: operating cash flow against capital spendingSmith Micro Software: operating cash flow against capital spendingOperating cash flowCapital spending−$3.8M$6KQ3 2024−$4.9M$3KQ4 2024−$602K$4KQ1 2025−$2.3M$27KQ2 2025−$2.1M$21KQ3 2025−$2.2M$36KQ4 2025−$3.8M$11KQ1 2026−$882K$61KQ2 2026
Latest (Q2 2026): Operating cash flow −$882K, Capital spending $61K.

Capital allocation, year by year

Smith Micro Software: where the cash came from (up) and went (down), by fiscal yearSmith Micro Software: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow −$12.9MFY2021: Shares issued $59.8MFY2021: Asset sales $192KFY2021: Capital spending −$830KFY2021: Acquisitions −$56.9M$60.0MFY2021FY2022: Operating cash flow −$19.3MFY2022: Shares issued $3.0MFY2022: Capital spending −$49K$3.0MFY2022FY2023: Operating cash flow −$7.0MFY2023: Capital spending −$4KFY2023FY2024: Operating cash flow −$14.3MFY2024: Shares issued $9.8MFY2024: Capital spending −$20K$9.8MFY2024FY2025: Operating cash flow −$7.2MFY2025: Shares issued $3.4MFY2025: Asset sales $1.3MFY2025: Capital spending −$88K$4.6MFY2025
Over these 5 years operating cash flow totalled −$60.6M; the largest uses were operating cash flow ($60.6M) and acquisitions ($56.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.8M
Debtnone
Net cash$2.8M
Cash runway4 months

Smith Micro Software is burning cash: its operations consume cash, a free cash flow of −$9.1M a year at the current rate against $2.8M of cash and investments: a runway of about 4 months before any new financing.

Where the cash came from and went

Smith Micro Software: sources (+) and uses (−) of cash, Q2 2026Smith Micro Software: sources (+) and uses (−) of cash, Q2 2026Other financing$1.9MCash drawn (+) / kept (−)−$1.1MOperating cash flow−$882KCapital spending−$61KOther investing$49K
Smith Micro Software: sources (+) and uses (−) of cash, TTM to Q2 2026Smith Micro Software: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$9.0MOther financing$5.2MShares issued$4.9MCash drawn (+) / kept (−)−$1.4MOther investing$349KCapital spending−$129K

From profit to cash

Smith Micro Software: net income to operating cash flow, Q2 2026Smith Micro Software: net income to operating cash flow, Q2 2026Net income−$2.6MDepreciation & amortization$1.3MStock-based pay$171KReceivables$285KPayables−$70KPrepaid and other assets−$52KOperating cash flow−$882K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202658—191-133
Q1 202650—173-123
Q4 202551—207-156
Q3 202558—164-106
Q2 202563—134-71
Q1 202587—122-35
Q4 202484—144-59
Q3 202472—153-81

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$882K−$61K——−$1.1M−$943K
Q1 2026−$3.8M−$11K$4.0M—−$248K−$3.8M
Q4 2025−$2.2M−$36K—$2.4M−$100K−$2.2M
Q3 2025−$2.1M−$21K—$966K$7K−$2.2M
Q2 2025−$2.3M−$27K——$887K−$2.3M
Q1 2025−$602K−$4K——$520K−$606K
Q4 2024−$4.9M−$3K—$6.5M−$1.3M−$4.9M
Q3 2024−$3.8M−$6K——$4.1M−$3.8M

Smith Micro Software: income statement and cash flow

Smith Micro Software, Q2 2026: revenue $4.3M (-2% year over year), operating margin -54.6%. The chart follows the revenue to costs, profit and cash.

Smith Micro Software: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.