Filing Flows › Smith Micro Software (SMSI) › Q2 2025
Smith Micro Software (SMSI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Smith Micro Software (SMSI) reported revenue of $4.4M for the second quarter 2025 (Q2 2025), -14% from a year earlier and -4% from the quarter before. Operating margin was -338.3%, net loss $15.1M (340.8% of revenue).
Smith Micro Software, Q2 2025: revenue $4.4M (-14% year over year), operating margin -338.3%, net loss $15.1M, operating cash flow −$2.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4M | -4% | -14% |
| Operating profit | −$15.0M | — | — |
| Net earnings | −$15.1M | — | — |
| Operating cash flow | −$2.3M | — | — |
What changed
Revenue was $4.4M in Q2 2025, down 14% year over year and down 4% from the previous quarter. Cloud Based usage Fees was the largest line at 64% of revenue. Cloud Based usage Fees lost $810K year over year (down 22%), 112% of the total change.
Gross margin was 73.5%, up 4.8 points from a year earlier. Operating costs exceeded revenue by $15.0M, an operating margin of -338.3%. Operating expenses grew 73% against a revenue fall of 14%. The fastest-growing cost line was Other operating costs (+621%). The quarter ended with a net loss of $15.1M, wider than the previous quarter's $5.2M loss.
Operating cash flow was −$2.3M. Non-cash charges added back $1.3M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $10.4M. Capital expenditures of $27K exceeded it, leaving free cash flow of −$2.3M.
Questions
What was Smith Micro Software's revenue in the second quarter 2025?
Smith Micro Software (SMSI) reported revenue of $4.4M for the second quarter 2025 (Q2 2025), -14% from a year earlier and -4% from the quarter before.
Was Smith Micro Software profitable in the second quarter 2025?
Operating loss was $15.0M (-338.3% of revenue) and net loss $15.1M.