Smith Micro Software, Inc. (SMSI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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SMSI Revenue Growth
Revenue Breakdown (FY 2025)
SMSI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SMSI Revenue Analysis (2014–2025)
As of May 6, 2026, Smith Micro Software, Inc. (SMSI) generated trailing twelve-month (TTM) revenue of $17.0 million, reflecting moderate decline in growth of -8.7% year-over-year. The most recent quarter (Q1 2026) recorded $4.2 million in revenue, up 6.2% sequentially.
Looking at the longer-term picture, SMSI's 5-year compound annual growth rate (CAGR) stands at -19.5%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $58.4 million in 2021.
Revenue diversification analysis shows SMSI's business is primarily driven by License and Service (100%). With over half of revenue concentrated in License and Service, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including SHEN (-18.8% YoY), GFAI (+4.0% YoY), and MANH (+4.8% YoY), SMSI has underperformed the peer group in terms of revenue growth. Compare SMSI vs SHEN →
SMSI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SMSICurrent | $17M | -8.7% | -19.5% | -110.8% | |
 SHEN | $358M | -18.8% | +10.1% | -6.2% | |
 GFAI | $36M | +4.0% | -1.2% | -18.5% | |
 MANH | $1.1B | +4.8% | +13.0% | 26.1% | |
 QLYS | $669M | +10.2% | +13.0% | 33.2% | |
 T | $125.6B | +2.9% | -6.1% | 19.2% |
SMSI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $17.4M | -15.5% | $12.9M | 74.1% | $-19,246,000 | -110.8% |
| 2024 | $20.6M | -49.7% | $14.4M | 70.2% | $-49,390,000 | -240.3% |
| 2023 | $40.9M | -15.8% | $30.3M | 74.2% | $-18,055,000 | -44.2% |
| 2022 | $48.5M | -17.0% | $34.3M | 70.7% | $-30,927,000 | -63.7% |
| 2021 | $58.4M | +13.9% | $45.7M | 78.3% | $-30,938,000 | -53.0% |
| 2020 | $51.3M | +18.4% | $46.1M | 89.9% | $3.5M | 6.9% |
| 2019 | $43.3M | +64.9% | $39.4M | 90.9% | $10.1M | 23.3% |
| 2018 | $26.3M | +14.4% | $22.0M | 83.5% | $-1,214,000 | -4.6% |
| 2017 | $23.0M | -18.6% | $17.9M | 77.9% | $-5,674,000 | -24.7% |
| 2016 | $28.2M | -28.5% | $20.7M | 73.2% | $-15,905,000 | -56.3% |
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Start ComparisonSMSI — Frequently Asked Questions
Quick answers to the most common questions about buying SMSI stock.
Is SMSI's revenue growth accelerating or slowing?
SMSI revenue declined -8.7% year-over-year, contrasting with the 5-year CAGR of -19.5%. TTM revenue fell to $17M. This reverses the prior growth trend.
What is SMSI's long-term revenue growth rate?
Smith Micro Software, Inc.'s 5-year revenue CAGR of -19.5% reflects the variable expansion pattern. Current YoY growth of -8.7% is below this long-term average.
How is SMSI's revenue distributed by segment?
SMSI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.