SMITH MICRO SOFTWARE, INC. (SMSI)
CIK 948708 · all EDGAR filings →
Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.
Shares outstanding over time
Latest: 5.6M shares as of Aug 12, 2026 (10-Q). Share count fell from 74.9M to 9.6M between Feb 15, 2024 and May 6, 2024, a pattern consistent with a reverse split (roughly 1-for-8); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.
Cash runway
Going-concern warning
auditor flagged substantial doubt
The company itself flagged going-concern doubt in a filing.
Full breakdown: cash runway tool · source filing →
Warrants
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| Warrants Issued With Convertible Notes | 1.9M | $3.4 | 5y | — |
| July2025 Warrants | 600,000 | $3.35 | — | DOWN-ROUND |
| Inducement Transaction Warrants | 500,000 | $3.8 | 5y | — |
| Unregistered Warrants | 400,000 | $3.35 | 5y | — |
| September112025 Warrants | 400,000 | $3.35 | 5.5y | — |
| Unregistered Common Warrants | 300,000 | $3.35 | 5y | — |
| September292025 Warrant | 300,000 | $3.35 | 5.5y | — |
| Unregistered Common Stock Warrants | 300,000 | $3.4 | 5y | — |
| Notes Warrants | 56,000 | $2.81 | — | FV $3.8M |
| Additional Warrants | 28,000 | $106 | — | — |
| October2024 Rdo Warrants | not tagged | $5.2 | — | — |
| November2025 Warrants | not tagged | $3.35 | — | — |
Tranches exactly as the company dimensioned them in its 10-Q filed Aug 14, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.
Warrants outstanding: 5.6M underlying shares, as reported Jun 30, 2026 (10-Q).
Reported exercise price: $4.78 (aggregate figure as tagged; individual tranches vary).
Balance-sheet fair value of warrants: $3.8M as of Aug 11, 2022.
Down-round (price protection) accounting has been tagged in this filer’s XBRL: some instrument carries repricing protection. The tranche table above shows where the filer scoped it.
Rough fully diluted estimate: 11.2M = 5.6M O/S + 5.6M warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.
Convertible notes
| Note | Principal | Carrying | Conv. price | Rate | If converted |
|---|---|---|---|---|---|
| Convertible Notes | $4.9M | — | $3.4 | 8% | ~1.4M sh |
If every note above converted at its tagged price: ~1.4M new shares on 5.6M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.
Notes exactly as the company dimensioned them in its 10-Q filed Aug 14, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.
Fully diluted build-up
Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.
| Shares outstanding | 5.6M | Aug 12, 2026 |
| + Warrants Issued With Convertible Notes (if exercised) | 1.9M | Mar 4, 2026 |
| + July2025 Warrants (if exercised) | 600,000 | Nov 5, 2025 |
| + Inducement Transaction Warrants (if exercised) | 500,000 | Jun 11, 2026 |
| + Unregistered Warrants (if exercised) | 400,000 | Nov 5, 2025 |
| + September112025 Warrants (if exercised) | 400,000 | May 26, 2026 |
| + Unregistered Common Warrants (if exercised) | 300,000 | Nov 5, 2025 |
| + September292025 Warrant (if exercised) | 300,000 | Dec 31, 2025 |
| + Unregistered Common Stock Warrants (if exercised) | 300,000 | Feb 3, 2026 |
| + Notes Warrants (if exercised) | 56,000 | Jun 4, 2026 |
| + Additional Warrants (if exercised) | 28,000 | Jun 4, 2026 |
| + Convertible Notes (if fully converted) | 1.4M | Mar 4, 2026 |
| Fully diluted estimate | 11.8M | +111.4% vs O/S |
Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.
Registrations and offerings
Registered offering capacity on live registrations: $22.5Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted
Last 12 months: 7 executed · 3 registered.
Full history and shelf status: offering checker · S-3 shelf checker
Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.
Keep going: float checker · offering calendar · short-squeeze screener · full SMSI workspace