SMITH MICRO SOFTWARE, INC. (SMSI): debt financing — Smith Micro Q4 revenue down 20% YoY, CEO transition, $4.9M convertible note with warrants

SMITH MICRO SOFTWARE, INC.

Q4 2025 revenue $4.0M vs $5.0M YoY; GAAP net loss $4.7M ($0.20 loss per share).
FY2025 revenue $17.4M vs $20.6M; gross margin improved to 74.1% from 70.2%.
William Smith becomes Executive Chairman; Tim Huffmyer named President/CEO; Bethany Braund CFO effective Mar 31, 2026.
Secured convertible note offering of $4.9M at 8% interest, conversion at $0.68; warrants for 9.4M shares.
Proceeds used to repay $2.2M existing notes and general corp. purposes; insiders participated including Smith Living Trust and Huffmyer.

item 1.01 item 1.02 item 2.02 item 2.03 item 3.02 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

SMITH MICRO SOFTWARE, INC. incurred convertible notes of approximately $4.9 million with certain accredited investors at 8.0% per annum, 12.0% per annum upon an Event of Default maturing March 31, 2029.

Instrument: convertible notes
Principal: approximately $4.9 million
Counterparty: certain accredited investors
Rate: 8.0% per annum, 12.0% per annum upon an Event of Default
Maturity: March 31, 2029
Event: incurrence

Exact text from the filing

On March 4, 2026, Smith Micro Software, Inc. (the “ Company ”, “ we ,” “ us ,” “ our ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with certain accredited investors (the “ Buyers ”) and, pursuant to the Purchase Agreement, agreed to sell to the Buyers a new series of secured convertible notes (the “ Convertible Notes ”) with an aggregate original principal amount of approximately $4.9 million and an initial conversion price of $0.68 per share, subject to adjustment as described in the Convertible Notes, and warrants to acquire up to an aggregate amount of approximately 9.4 million additional shares of the Company’s common stock (the “ Warrants ”) in transactions exempt from registration as not involving a public offering under Section 4(a)(2) of the Securities Act of 1933, as amended (the “ Securities Act ”) and Regulation D promulgated thereunder (the “ Offering ”) and in reliance on similar exemptions under applicable state laws.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SMITH MICRO SOFTWARE, INC. reported fourth quarter ended December 31, 2025 results: revenue $4.0 million, net income GAAP net loss attributable to common stockholders ... was $4.7 million, or $0.20 loss per share, EPS $(0.20) loss per share.

Period: fourth quarter ended December 31, 2025
Revenue: $4.0 million
Net income: GAAP net loss attributable to common stockholders ... was $4.7 million, or $0.20 loss per share
EPS: $(0.20) loss per share
Result: reported results

Exact text from the filing

Smith Micro reported revenue of $4.0 million for the quarter ended December 31, 2025

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SMITH MICRO SOFTWARE, INC. reported year ended December 31, 2025 results: revenue $17.4 million.

Period: year ended December 31, 2025
Revenue: $17.4 million
Result: reported results

Exact text from the filing

Smith Micro reported revenue of $17.4 million for the year ended December 31, 2025

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

SMITH MICRO SOFTWARE, INC. issued common stock issuable upon conversion at $0.68 per share of convertible note to certain accredited investors for aggregate original principal amount of approximately $4.9 million.

Security: convertible note
Shares: common stock issuable upon conversion at $0.68 per share
Purchaser: certain accredited investors
Consideration: aggregate original principal amount of approximately $4.9 million

Exact text from the filing

agreed to sell to the Buyers a new series of secured convertible notes (the “ Convertible Notes ”) with an aggregate original principal amount of approximately $4.9 million and an initial conversion price of $0.68 per share

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

SMITH MICRO SOFTWARE, INC. issued approximately 9.4 million shares of warrant to certain accredited investors for part of the Securities Purchase Agreement with aggregate gross proceeds of approximately $4.9 million.

Security: warrant
Shares: approximately 9.4 million shares
Purchaser: certain accredited investors
Consideration: part of the Securities Purchase Agreement with aggregate gross proceeds of approximately $4.9 million

Exact text from the filing

Agreement, agreed to sell to the Buyers a new series of secured convertible notes (the “ Convertible Notes ”) with an aggregate original principal amount of approximately $4.9 million and an initial conversion price of $0.68 per share, subject to adjustment as described in the Convertible Notes, and warrants to acquire up to an aggregate amount of

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SMITH MICRO SOFTWARE, INC. entered into Securities Purchase Agreement with certain accredited investors valued at approximately $4.9 million (effective 2026-03-04).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $4.9 million
Effective: 2026-03-04

Exact text from the filing

On March 4, 2026, Smith Micro Software, Inc. (the “ Company ”, “ we ,” “ us ,” “ our ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with certain accredited investors (the “ Buyers ”) and, pursuant to the Purchase Agreement, agreed to sell to the Buyers a new series of secured convertible notes (the “ Convertible Notes ”) with an aggregate original principal amount of approximately $4.9 million

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

SMITH MICRO SOFTWARE, INC. filing history →

Source: SEC EDGAR

accession 0001437749-26-006913

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.