Filing Flows › Smith Micro Software (SMSI) › Q3 2025
Smith Micro Software (SMSI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Smith Micro Software (SMSI) reported revenue of $4.3M for the third quarter 2025 (Q3 2025), -6% from a year earlier and -2% from the quarter before. Operating margin was -103.2%, net loss $4.5M (104.3% of revenue).
Smith Micro Software, Q3 2025: revenue $4.3M (-6% year over year), operating margin -103.2%, net loss $4.5M, operating cash flow −$2.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.3M | -2% | -6% |
| Operating profit | −$4.5M | — | — |
| Net earnings | −$4.5M | — | — |
| Operating cash flow | −$2.1M | — | — |
What changed
Revenue was $4.3M in Q3 2025, down 6% year over year and down 2% from the previous quarter. Cloud Based usage Fees was the largest line at 63% of revenue. Cloud Based usage Fees lost $452K year over year (down 14%), 150% of the total change.
Gross margin was 73.9%, up 2.3 points from a year earlier. Operating costs exceeded revenue by $4.5M, an operating margin of -103.2%. Operating expenses fell 22% while revenue fell 6%. The quarter ended with a net loss of $4.5M, narrower than the previous quarter's $15.1M loss.
Operating cash flow was −$2.1M. Non-cash charges added back $1.3M of depreciation and amortization and $645K of share-based compensation. Working capital and other items added $405K. Capital expenditures of $21K exceeded it, leaving free cash flow of −$2.2M.
Questions
What was Smith Micro Software's revenue in the third quarter 2025?
Smith Micro Software (SMSI) reported revenue of $4.3M for the third quarter 2025 (Q3 2025), -6% from a year earlier and -2% from the quarter before.
Was Smith Micro Software profitable in the third quarter 2025?
Operating loss was $4.5M (-103.2% of revenue) and net loss $4.5M.