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.

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