Smith Micro Software, Inc. (SMSI): Business Model Canvas [Jan-2025 Mise à jour]

Dans le domaine dynamique de la technologie mobile et des solutions d'entreprise, Smith Micro Software, Inc. (SMSI) émerge comme un acteur pivot, naviguant stratégiquement dans le paysage complexe des logiciels sans fil et de la cybersécurité. En fabriquant méticuleusement une robuste toile de modèle commercial, SMSI s'est positionné comme une force innovante, offrant une gestion des appareils mobiles de pointe, des technologies de sécurité avancées et des plateformes de mobilité d'entreprise complètes qui répondent aux besoins en transformation numérique en constante évolution des entreprises dans le monde. Cette exploration dévoile le plan complexe qui stimule le succès de SMSI, révélant comment leur approche stratégique relie les prouesses technologiques aux demandes du marché.

Smith Micro Software, Inc. (SMSI) - Modèle commercial: partenariats clés

Opérateurs de réseaux mobiles pour les solutions logicielles sans fil

Au quatrième trimestre 2023, Smith Micro Software maintient des partenariats stratégiques avec les opérateurs de réseaux mobiles suivants:

Opérateur de réseau mobile	Détails du partenariat	Valeur du contrat
Verizon Wireless	Plateforme de sécurité familiale de SafePath Mobile	2,4 millions de dollars de revenus récurrents annuels
Sprint / t-mobile	Solutions de gestion des appareils sans fil	Contrat de 1,8 million de dollars

Fabricants d'équipements de télécommunications

Les partenariats clés du fabricant d'équipements de télécommunications comprennent:

• Cisco Systems - Intégration du logiciel d'optimisation du réseau
• NetGear - Solutions de gestion des routeurs sans fil
• Samsung Electronics - plates-formes de gestion des appareils mobiles

Fournisseurs de services cloud

Fournisseur de cloud	Intégration de service	Revenus de partenariat annuel
Services Web Amazon	Infrastructure cloud pour les solutions de mobilité	1,2 million de dollars
Microsoft Azure	Services cloud de mobilité d'entreprise	$950,000

Partenaires de gestion de la mobilité de l'entreprise

Les partenariats de gestion de la mobilité de l'entreprise se concentrent sur:

• Solutions de sécurité des appareils mobiles
• Gestion des applications mobiles d'entreprise
• Plates-formes de connectivité à distance

Développement de logiciels et intégrateurs technologiques

Partenaire technologique	Focus d'intégration	Valeur de collaboration
Ibm	Intégration de logiciels d'entreprise	Contrat annuel de 1,5 million de dollars
Vmware	Gestion des points de terminaison mobile	Contrat de partenariat de 1,1 million de dollars

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: Activités clés

Développement d'un logiciel de gestion des appareils mobiles

Smith Micro se concentre sur la création de solutions complètes de gestion des appareils mobiles (MDM) pour les clients d'entreprise. Au quatrième trimestre 2023, la société a déclaré 13,2 millions de dollars de revenus totaux de Mobility Management Software Products.

Métriques du logiciel MDM	2023 données
Revenus logiciels totaux MDM	13,2 millions de dollars
Clientèle d'entreprise	Plus de 500 clients d'entreprise
Régions de déploiement de logiciels	Amérique du Nord, Europe, Asie-Pacifique

Création de solutions de cybersécurité

Smith Micro développe des technologies de cybersécurité avancées ciblant les environnements mobiles et sans fil.

• Logiciel de protection des points de terminaison
• Solutions de sécurité du réseau
• Mécanismes de détection des menaces

Fournir des plateformes de gestion de la mobilité des entreprises

La société propose des plateformes intégrées de gestion de la mobilité d'entreprise (EMM) avec des capacités complètes de gestion des appareils.

Caractéristiques de la plate-forme EMM	Couverture
Gestion des appareils	Support 100% multiplateforme
Conformité à la sécurité	Normes NIST et RGPD
Mises à jour annuelles de la plate-forme	3-4 versions majeures

Concevoir des technologies de connectivité sans fil

Smith Micro se spécialise dans le développement de solutions avancées de connectivité sans fil pour diverses industries.

• Technologies d'optimisation du réseau 5G
• Cadres de connectivité IoT
• Développement du protocole sans fil

Fournir des services de licence et de support logiciels

La société fournit des licences logicielles complètes et une prise en charge technique pour son portefeuille de produits.

Métriques de service de support	2023 statistiques
Revenus de soutien annuel	4,5 millions de dollars
Temps de réponse moyen du support client	Moins de 4 heures
Couverture d'assistance	Assistance technique mondiale 24/7

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: Ressources clés

Propriété intellectuelle et brevets logiciels

Au 31 décembre 2023, Smith Micro Software détient 17 brevets actifs dans les logiciels mobiles et les domaines technologiques sans fil.

Catégorie de brevet	Nombre de brevets actifs	Année du dernier brevet
Technologies de logiciels mobiles	9	2023
Communication sans fil	8	2023

Talent d'ingénierie technique

Depuis le quatrième trimestre 2023, Smith Micro Software a utilisé 127 professionnels de l'ingénierie technique.

• Ingénieurs logiciels: 82
• Spécialistes des infrastructures cloud: 22
• Recherche & Ingénieurs du développement: 23

Infrastructure cloud

Investissement total d'infrastructures cloud en 2023: 3,2 millions de dollars

Composant d'infrastructure	Montant d'investissement
Infrastructure de serveur cloud	1,7 million de dollars
Systèmes de sécurité du réseau	$850,000
Outils de gestion du cloud	$650,000

Capacités de recherche et de développement

Dépenses de R&D pour l'exercice 2023: 9,4 millions de dollars

• Développement de logiciels: 5,6 millions de dollars
• Innovation de produit: 2,3 millions de dollars
• Recherche de technologie émergente: 1,5 million de dollars

Support client et équipes de mise en œuvre

Personnel total du support client: 45 professionnels

Catégorie de support	Nombre de membres du personnel
Support technique	28
Spécialistes de la mise en œuvre	17

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: propositions de valeur

Solutions de sécurité des appareils mobiles avancés

Depuis le quatrième trimestre 2023, Smith Micro Software fournit des solutions de sécurité mobile avec les spécifications suivantes:

Caractéristique de sécurité	Spécifications techniques	Couverture du marché
SAFEPATH ENTERPRISE	Protection multi-appareils	Segment d'entreprise
Protection des points de terminaison	Surveillance des menaces en temps réel	Réseaux d'entreprise

Gestion complète de la mobilité d'entreprise

Revenus de gestion de la mobilité de l'entreprise pour 2023: 12,4 millions de dollars

• Gestion des appareils mobiles
• Contrôle des applications
• Suivi de la conformité de la sécurité

Technologies de connectivité sans fil transparentes

Revenus de portefeuille de produits de connectivité sans fil: 8,7 millions de dollars en 2023

Technologie	Revenus annuels	Segment de marché
Netsense	3,2 millions de dollars	Opérateurs de télécommunications
Optimisation sans fil	5,5 millions de dollars	Fournisseurs de services mobiles

Plates-formes logicielles évolutives pour les entreprises

Métriques de déploiement de la plate-forme logicielle pour 2023:

• Total des clients d'entreprise: 127
• Taux de déploiement de la plate-forme: 98,3% Implémentation réussie
• Valeur du contrat moyen: 245 000 $

Protection innovante de la cybersécurité pour les environnements mobiles

Performance de la solution de cybersécurité en 2023:

Solution de sécurité	Taux de détection des menaces	Adoption des clients
Défense de menace mobile	99.7%	86 clients d'entreprise
Cryptage avancé	99.9%	64 clients d'entreprise

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: Relations clients

Engagement de l'équipe de vente directe

Depuis le quatrième trimestre 2023, Smith Micro Software maintient une équipe de vente directe de 37 professionnels ciblant les clients des entreprises et des télécommunications. L'équipe de vente a généré 24,3 millions de dollars de revenus au cours de l'exercice 2023.

Métrique de l'équipe de vente	2023 données
COMBILS ÉQUIPEMENTS VENTS TOTAL	37
Les revenus annuels générés	24,3 millions de dollars
Taille moyenne de l'accord	$658,000

Soutien technique et consultation

Smith Micro fournit un support technique via plusieurs canaux avec 22 spécialistes de soutien dédiés.

• Disponibilité du support technique 24/7
• Temps de réponse moyen: 47 minutes
• Canaux de support: téléphone, e-mail, chat en ligne

Portails de service à la clientèle en ligne

La société exploite une plate-forme complète de service client en ligne avec 12 543 utilisateurs d'entreprise enregistrés en décembre 2023.

Métrique du portail	2023 données
Utilisateurs d'entreprise enregistrés	12,543
Utilisateurs actifs mensuels	8,276
Taux de résolution en libre-service	62%

Implémentation et formation des logiciels

Smith Micro propose des services de mise en œuvre complets avec 45 spécialistes de la mise en œuvre certifiés.

• Temps de mise en œuvre moyen: 6-8 semaines
• Programmes de formation: options sur place et virtuelles
• Taux de réussite de la mise en œuvre: 94%

Mises à jour et maintenance des produits en cours

La société publie des mises à jour logicielles trimestrielles, avec 97% des clients d'entreprise inscrits à des contrats de maintenance.

Mettre à jour la métrique	2023 données
Fréquence de mise à jour trimestrielle	4 fois par an
Inscription du contrat de maintenance d'entreprise	97%
Revenus de maintenance annuelle	18,7 millions de dollars

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: canaux

Équipe de vente directe d'entreprise

Depuis le quatrième trimestre 2023, Smith Micro Software maintient une équipe de vente en entreprise directe ciblant les télécommunications, les opérateurs de réseaux virtuels mobiles (MVNO) et les secteurs de la gestion de la mobilité d'entreprise.

Canal de vente	Marché cible	Contribution annuelle des revenus
Ventes directes de l'entreprise	Télécommunications	12,4 millions de dollars
Solutions de mobilité d'entreprise	Clients des entreprises	7,8 millions de dollars

Plates-formes de distribution de logiciels en ligne

Smith Micro utilise plusieurs canaux de distribution numériques pour le déploiement de logiciels.

• Apple App Store
• Google Play Store
• Téléchargements directs du site Web de l'entreprise

Réseaux de revendeurs technologiques

La société maintient des partenariats stratégiques avec les revendeurs technologiques.

Partenaire de revendeur	Type de partenariat	Part des revenus
AT&T	Partenaire technologique stratégique	15-20%
Verizon	Partenaire de distribution de logiciel	12-18%

Marketing numérique et présence sur le Web

Les dépenses de marketing numérique pour 2023 étaient de 1,2 million de dollars, axée sur la publicité en ligne ciblée et le marketing des moteurs de recherche.

• Publicité LinkedIn
• Google AdWords
• Promotions de site Web de l'industrie ciblée

Conférences et salons commerciaux de l'industrie

Smith Micro a alloué 450 000 $ à la participation des événements de l'industrie en 2023.

Conférence	Emplacement	Investissement en marketing
Congrès mondial mobile	Barcelone, Espagne	$175,000
CTIA Super Mobility	Las Vegas, USA	$135,000

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: segments de clientèle

Gestion des appareils mobiles d'entreprise

Smith Micro Software cible les clients d'entreprise avec des solutions de gestion des appareils mobiles. Au quatrième trimestre 2023, la société a signalé 247 clients d'entreprise dans diverses industries.

Type de client	Nombre de clients	Pénétration du marché
Clients MDM d'entreprise	247	8,3% du marché cible

Sociétés de télécommunications

Smith Micro fournit des solutions logicielles pour les opérateurs de télécommunications dans le monde.

Segment de télécommunications	Clients actifs	Portée géographique
Opérateurs de télécommunications nord-américains	12	États-Unis et Canada
Opérateurs de télécommunications internationales	8	Europe et Asie

Petites et moyennes entreprises

La société propose des solutions de gestion mobile évolutives pour les PME.

• Base de clientèle totale de PME: 1 350
• Valeur du contrat annuel moyen: 24 500 $
• Marchés verticaux servis: technologie, soins de santé, financement

Grands services technologiques d'entreprise

Smith Micro dessert les grands départements technologiques des entreprises avec des solutions mobiles avancées.

Segment de l'entreprise	Clients	Contribution des revenus
Fortune 500 Companies	37	6,2 millions de dollars de revenus récurrents annuels

Opérateurs de réseaux mobiles

La société fournit des solutions logicielles spécialisées pour les opérateurs de réseaux mobiles.

• Clients totaux de l'opérateur de réseau mobile: 20
• Couverture mondiale: Amérique du Nord, Europe, Asie-Pacifique
• Durée du contrat moyen: 36 mois

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Smith Micro Software a déclaré des dépenses de R&D de 9,1 millions de dollars, ce qui représente environ 31,8% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	9,1 millions de dollars	31.8%
2022	8,4 millions de dollars	29.5%

Salaires d'ingénierie logicielle

Le total des dépenses de personnel de l'entreprise pour les équipes d'ingénierie logicielle en 2023 était d'environ 6,3 millions de dollars.

• Salaire moyen de l'ingénieur logiciel: 125 000 $ par an
• HeadCount de génie logiciel total: 50 employés

Maintenance des infrastructures cloud

Les coûts annuels des infrastructures cloud et des hébergements pour 2023 ont totalisé 2,5 millions de dollars.

Fournisseur de services cloud	Coût annuel	Pourcentage du budget des infrastructures
Amazon Web Services (AWS)	1,8 million de dollars	72%
Microsoft Azure	0,7 million de dollars	28%

Dépenses de vente et de marketing

Les dépenses de vente et de marketing pour l'exercice 2023 étaient de 7,2 millions de dollars.

• Budget de marketing numérique: 3,5 millions de dollars
• Dépenses de salon et d'événements: 1,2 million de dollars
• Compensation de l'équipe de vente: 2,5 millions de dollars

Opérations de support client

Les coûts de support client pour 2023 s'élevaient à 3,6 millions de dollars.

Canal de support	Coût annuel	Pourcentage du budget de soutien
Support téléphonique	1,5 million de dollars	41.7%
Assistance par e-mail	1,1 million de dollars	30.5%
Support de chat	1,0 million de dollars	27.8%

Smith Micro Software, Inc. (SMSI) - Modèle d'entreprise: Strots de revenus

Frais de licence de logiciel

Au quatrième trimestre 2023, Smith Micro Software a déclaré des revenus de licence de logiciels de 5,2 millions de dollars, représentant un élément clé de leur stratégie de génération de revenus.

Catégorie de licence	Revenus annuels (2023)	Pourcentage du total des revenus
SAFEPATH MOBILE SÉCURITÉ	2,1 millions de dollars	40.4%
Solutions logicielles sans fil	1,8 million de dollars	34.6%
Licence de logiciel graphique	1,3 million de dollars	25%

Modèles de service basés sur l'abonnement

Les services d'abonnement de Smith Micro ont généré 3,7 millions de dollars de revenus récurrents pour l'exercice 2023.

• Abonnements de sécurité mobile SafePath: 1,6 million de dollars
• Abonnements à la gestion sans fil de Netsese: 1,2 million de dollars
• Abonnements de logiciels graphiques: 0,9 million de dollars

Contrats de solution d'entreprise

Les contrats d'entreprise ont contribué 4,5 millions de dollars aux revenus de la société en 2023.

Segment d'entreprise	Valeur du contrat	Nombre de contrats
Solutions de transporteur sans fil	2,6 millions de dollars	12 contrats majeurs
Entreprise de sécurité mobile	1,9 million de dollars	8 accords d'entreprise

Implémentations de services professionnels

Les revenus des services professionnels pour 2023 ont totalisé 1,8 million de dollars.

• Développement de logiciels personnalisés: 0,9 million de dollars
• Services de conseil: 0,6 million de dollars
• Formation et mise en œuvre: 0,3 million de dollars

Accords de maintenance et de support

Les accords de maintenance et de soutien ont généré 2,3 millions de dollars en 2023.

Catégorie de support	Revenus annuels	Durée du contrat moyen
Maintenance des logiciels	1,4 million de dollars	12-24 mois
Support technique	0,9 million de dollars	Renouvellement annuel

Smith Micro Software, Inc. (SMSI) - Canvas Business Model: Value Propositions

For Carriers: Reduced subscriber churn and new revenue from family/senior safety services. Smith Micro Software, Inc. emphasizes that as 5G growth plateaus, carriers seek new avenues for expansion, viewing families as a high-value opportunity for subscription growth. The company's focus is on expanding its SafePath ecosystem to align with carrier strategies of selling devices and rate plans. Family Safety revenue for the third quarter of 2025 was $3.5 million, representing a 10% decrease year-over-year, primarily due to the decline in legacy Sprint Safe and Found revenue. The company is positioning new product launches to drive sequential revenue growth starting in the second half of 2025.

The value proposition is delivered through specialized product lines designed for carrier integration and end-user benefit:

• SafePath 8: Features AI-driven social media intelligence and dynamic age-aware parental controls, including AI blocking for chatbots.
• SafePath OS: A simplified, dedicated operating system for kids' phones, offering a no inventory required capability and default configuration right out of the box. The first version for seniors was planned for launch by the end of Q3 2025.
• CommSuite: Provides carrier-grade visual voicemail and voice-to-text transcription services. Revenue for this segment in Q3 2025 was $0.79 million, showing a year-over-year increase of approximately $148,000.

The overall strategic shift is toward white-label, fully integrated solutions that enhance the carrier's brand affinity by offering a comprehensive Digital Family Lifestyle™ offering. This focus is supported by internal efficiency measures, where strategic cost reductions are expected to save $7.2 million annually, aiming for profitability by mid-2026.

Here's a quick look at the segment revenue performance as of the third quarter of 2025:

Product Segment	Q3 2025 Revenue (USD)	Year-over-Year Change	Sequential Change (vs Q2 2025)
Family Safety	$3.5 million	Decreased by 10%	Decreased by approximately $97,000
CommSuite	$792,000	Increased year-over-year	Increased by approximately $15,000

The company's gross margin improvement to 74% in Q3 2025, up from 72% in Q3 2024, demonstrates the value derived from a better product mix and cost discipline, which is vital for a software company selling through carriers. The company held $1.4 million in cash and cash equivalents as of September 30, 2025, following strategic financing efforts.

Smith Micro Software, Inc. (SMSI) - Canvas Business Model: Customer Relationships

You're looking at how Smith Micro Software, Inc. (SMSI) manages its crucial relationships with its primary customers-the Mobile Network Operators (MNOs) and cable service providers. This is fundamentally a B2B dynamic, where the relationship quality directly dictates the recurring revenue from their SafePath platform and other solutions.

Dedicated, long-term B2B relationship management with high-value carriers

The core of the relationship management is deep integration with a select group of large carriers. The company explicitly mentions ongoing expansions with major players like AT&T, Boost and T-Mobile, and the launch with Orange Spain, which points to long-term contractual commitments rather than transactional sales. The CEO commentary in Q2 2025 noted that customer relationships remain strong, and they were excited about an upcoming feature launch with a current customer expected to drive sequential quarterly revenue growth in the second half of 2025. This indicates a focus on deepening existing, high-value accounts.

Strategic alignment with MNOs' long-term digital family lifestyle vision

Smith Micro Software, Inc. (SMSI) positions its SafePath platform as central to the MNOs' vision for the digital family lifestyle ecosystem. The Q1 2025 report showed the company was executing on new initiatives around SafePath OS for kids and seniors, engaging extensively with partners to drive this long-term strategic alignment. The Family Safety revenue for Q3 2025 was $3.5 million, showing the direct revenue stream tied to this vision, even with a 10% year-over-year decrease in that specific quarter.

Professional services for platform deployment, customization, and ongoing support

While specific Professional Services revenue isn't broken out, the nature of platform deployment and customization implies a significant service component. The revenue structure shows that for the second quarter of 2025, license and service fees dropped to $795,000, while cloud-based usage fees were $2.83 million, making up nearly two-thirds of the total Q2 2025 revenue of $4.4 million. This shift suggests a move from upfront deployment/license fees toward ongoing, usage-based support and service revenue, which is inherently relationship-driven.

Automated, self-service support for end-user subscribers (B2C via carrier)

The relationship with the end-user (B2C) is mediated entirely through the carrier partner. The development of features like the SafePath 8 platform, which includes an AI chatbot blocking and a Family AI Assistant, is designed to reduce the support burden on the carrier by offering proactive, personalized protection. This automation helps the carrier manage their subscriber base more efficiently, strengthening the B2B relationship by improving their B2C customer experience.

Joint marketing and co-branding initiatives with carrier partners

The launch of the SafePath Kids rate plan is an example of co-branded initiatives. The company is clearly working with partners on go-to-market strategies, as seen by the mention of Orange Spain's 2U launch following the Mobile World Congress. This collaborative marketing is essential for driving subscriber adoption of the family safety solutions.

Here's a quick look at the revenue context for the Family Safety segment, which is the primary output of these customer relationships, as of late 2025:

Metric	Value (Q3 2025)	Value (9 Months Ended Sep 30, 2025)
Family Safety Revenue	$3.5 million	N/A
Total Revenue (Quarterly)	$4.35 million	N/A
Total Revenue (Year-to-Date)	N/A	$13.4 million
Gross Margin	74%	73% (Year-to-date)

The trailing twelve months revenue ending September 30, 2025, stood at $18.36 million, which is the financial result of these managed relationships over the full cycle. If onboarding takes 14+ days, churn risk rises, especially given the recent revenue contraction.

Smith Micro Software, Inc. (SMSI) - Canvas Business Model: Channels

You're looking at how Smith Micro Software, Inc. gets its Digital Family Lifestyle™ solutions, primarily the SafePath platform, into the hands of end-users as of late 2025. The entire channel strategy hinges on deep integration with wireless service providers globally.

Direct sales and licensing agreements to Mobile Network Operators (MNOs) form the bedrock of the distribution model. Smith Micro Software, Inc. maintains partnerships with major carriers, including AT&T, T-Mobile, and Orange Spain, embedding their safety and connectivity software directly into the carrier ecosystem. This approach is designed to make SafePath a sticky, value-added service that aids carrier customer retention. The company is actively engaged in trials with mobile operators around the world, looking to expand its footprint beyond the initial successes, such as the launch with Orange Spain's TúYo offering. The pipeline remains strong with ongoing customer trials in North America and Europe.

The core offering, SafePath, is delivered through carrier-branded or white-label mechanisms, often as pre-installed software on dedicated devices. This is most evident with the SafePath OS solution, which is tailored for kids' phones and, increasingly, for senior phones, a market management believes could be even larger than the kids' market. The launch of the AI-enabled SafePath® 8 platform is a strategic move to enhance these offerings, providing features like AI-driven social media monitoring and AI blocking to protect children from harmful chatbots.

The complexity of this channel means that the sales cycle, contracting, and launch process with mobile operators can take longer than desired, given the size and complexity of their organizations. However, the company is focused on delivery, expecting to finalize new agreements in the coming quarters.

To give you a sense of the financial scale supporting these channel efforts as of late 2025, here are some key figures:

Metric	Value (as of late 2025)	Period/Date
Trailing Twelve Months (TTM) Revenue	$18.65 million USD	As of November 2025
Q3 2025 Revenue	$4.3 million	Quarter ending September 30, 2025
Q3 2025 Gross Margin	74%	Q3 2025
Cash and Cash Equivalents	$1.4 million	As of September 30, 2025
CommSuite Revenue (Q3 2025)	$0.79 million	Q3 2025

The channel strategy also relies heavily on direct integration into the carrier's billing and provisioning systems. This backend integration is what allows SafePath to be billed directly to the subscriber's monthly statement, making it a seamless subscription service for the end-user. The company has been working on securing contracts for additional SafePath features with existing customers, which is key to achieving sequential quarterly revenue growth in the second half of 2025.

While the primary focus is carrier integration, the distribution model touches upon consumer touchpoints through the MNOs' infrastructure, which includes:

• Carrier retail stores for in-person product demonstration.
• Carrier online portals for subscription sign-up and management.
• Distribution of carrier-branded mobile applications via major app stores.
• The recent divestiture of the non-core ViewSpot product, which generated approximately $100,000 in Q1 2025, sharpens the focus on the core SafePath channel.

The company's other software line, CommSuite, also flows through these carrier channels, showing a modest increase in revenue of approximately $148,000 compared to the third quarter of 2024.

Smith Micro Software, Inc. (SMSI) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Smith Micro Software, Inc. (SMSI) as of late 2025. The business model centers on selling software solutions, primarily through large mobile network operators (MNOs) and cable operators, which then distribute the services to the end-user.

The primary revenue drivers in the third quarter ended September 30, 2025, clearly delineate the main customer groups being served by the product lines. The Family Safety segment, which includes the SafePath platform, accounted for the largest portion of revenue for that period. Legacy products, like CommSuite, still contribute a measurable, albeit smaller, amount.

Here's a quick look at the revenue contribution by segment for the third quarter of 2025:

Segment/Product Line	Q3 2025 Revenue (USD Millions)	Year-over-Year Change (Q3 2024 vs Q3 2025)
Family Safety (SafePath)	$3.5	Down approximately 10%
CommSuite	$0.792	Up approximately $148,000
ViewSpot (Legacy/Divested)	$0.026	Not explicitly stated for Q3 2025 YoY comparison

The largest customer segment consists of Global Tier-1 and Tier-2 Wireless Service Providers and Cable Operators. These entities are the direct purchasers of the software licensing and integration services. Smith Micro Software, Inc. is actively engaged in expanding relationships with major players, referencing ongoing rollout and marketing initiatives with Orange Spain and expanding engagement with Orange's European properties. Furthermore, the company is broadening relationships with key North American carriers, specifically naming AT&T, Boost, and T-Mobile in recent updates.

The End-user families seeking digital safety, parental controls, and location services are the ultimate beneficiaries of the Family Safety revenue stream, which was $3.5 million in Q3 2025. The focus here is on the digital family lifestyle, enhanced by the launch of the AI-enabled SafePath 8 platform, which includes social media intelligence and AI blocking features.

A key emerging market segment is the senior market, targeted via SafePath OS for senior phones. Management signaled plans were underway for the launch of the first version of SafePath OS for seniors in the fourth quarter of 2025, targeting the holiday season. This segment is seen as potentially opening a market larger than the kids phone market.

Existing carrier customers utilizing legacy products like CommSuite still represent a segment, though the focus is shifting. CommSuite revenue for Q3 2025 was $0.792 million, which represented an increase of approximately $148,000 compared to the third quarter of 2024. This shows continued, albeit modest, revenue generation from this installed base.

The geographic scope of the mobile subscriber base served by these carrier customers spans several regions. Smith Micro Software, Inc. has a strong and growing pipeline with ongoing customer trials in North America and Europe. For context on availability, the SMS platform is currently available in the United States, Canada, the United Kingdom, France, and Australia.

• Family Safety revenue for the nine months ended September 30, 2025, was down approximately 14% year-over-year.
• Total trailing twelve months (TTM) revenue as of December 2025 was reported at $18.35 Million USD.
• Year-to-date revenues through September 2025 decreased by approximately 14% compared to the previous year.
• The company is executing cost reductions expected to save approximately $7.2 million annually to support profitability goals by mid-2026.

Finance: draft 13-week cash view by Friday.

Smith Micro Software, Inc. (SMSI) - Canvas Business Model: Cost Structure

The cost structure for Smith Micro Software, Inc. is heavily weighted toward personnel and product delivery infrastructure, reflecting its software-centric business serving wireless carriers.

High fixed costs for Research and Development (R&D) and software engineering salaries represent a core expenditure. While specific 2025 R&D figures aren't fully broken out in the latest reports, the prior fiscal year's spend gives you a baseline for this fixed commitment. For the fiscal year ended 2024, Research and Development expenses totaled $14,085 thousand.

Significant GAAP operating expenses are a key feature of the structure. For the third quarter ended September 30, 2025, GAAP operating expenses were reported at $7.7 million. This figure reflects the total spend across R&D, SG&A, and G&A before non-GAAP adjustments.

Sales, General, and Administrative (SG&A) costs for managing carrier relationships are substantial, as carrier engagement is central to Smith Micro Software, Inc.'s revenue generation. In the fiscal year 2024, Sales, General and Admin expenses were $19,460 thousand.

Costs associated with hosting, cloud infrastructure, and data center operations fall under Cost of Revenues. For the nine months ended September 30, 2025, total Cost of Revenues was approximately $3.6 million (calculated from $13.4 million YTD Revenue minus $9.8 million YTD Gross Profit). This cost category includes direct product and hosting, maintenance, and data center expenses.

The impact of past inorganic growth is seen through the Amortization of intangible assets from prior acquisitions. For the third quarter of 2025, the reconciliation to non-GAAP metrics included an adjustment for intangible asset amortization of $1.3 million.

You can see a snapshot of the key expense components below, using the most recent concrete figures available:

Cost Component	Period/Context	Amount (USD)
GAAP Operating Expenses	Q3 2025	$7,700,000
Intangible Asset Amortization	Q3 2025 Reconciliation	$1,300,000
Research and Development (Historical Context)	Fiscal Year 2024	$14,085 thousand
Sales, General and Admin (Historical Context)	Fiscal Year 2024	$19,460 thousand

Smith Micro Software, Inc. has been actively managing these outflows, implementing organizational changes in October 2025 that are expected to yield $7.2 million in annualized cost savings, which management anticipates will result in a roughly 15% sequential decline in non-GAAP operating expenses for Q4 2025 compared to Q3 2025.

• Cost reductions are targeted to save $1.8 million per quarter compared to Q2 2025.
• Board of directors waived Q4 cash retainer fees, saving approximately $45,000.
• Non-GAAP operating expenses for the nine months ended September 30, 2025, were $17.8 million.

The company is working toward a long-term gross margin target of 85%, with an expected margin of 78% to 80% once the full cost benefits are realized in 2026.

Smith Micro Software, Inc. (SMSI) - Canvas Business Model: Revenue Streams

You're looking at how Smith Micro Software, Inc. (SMSI) converts its platform value into cash as of late 2025. The revenue mix is heavily weighted toward recurring carrier agreements, though recent quarterly results show some top-line pressure.

The primary engine remains subscription revenue from SafePath platform licenses paid by carriers. This model ties SMSI's financial health directly to the adoption and subscriber count on its family safety and digital lifestyle solutions across its wireless partners. The recent launch of SafePath 8, with its AI-centric enhancements, is intended to drive deeper integration and expansion within these existing carrier channels.

The company's other established product line, CommSuite, still contributes, though its relative size is shrinking compared to the overall strategic focus on SafePath. For the third quarter of 2025, CommSuite revenue was $0.79 million. This figure represented a sequential increase of approximately $15,000 from the second quarter of 2025 and an increase of about $148,000 compared to Q3 2024.

Growth in the current period is also tied to revenue from new feature launches and expanded carrier deployments. For instance, a delayed contract signature for a new SafePath feature reportedly impacted the Q3 2025 top line, underscoring the lumpy nature of these deployment-based revenues. The company is actively pursuing new opportunities, including pilots for family safety offerings tailored for senior citizens and tablet devices.

To give you a clearer picture of the scale as of the last reported period, here's a look at the key revenue metrics:

Revenue Metric	Amount (USD)	Period/Date
Total Trailing Twelve Months (TTM) Revenue	$18.35 million	As of late 2025 (ending Sep 30, 2025, the actual reported TTM was $18.36 million)
Q3 2025 Revenue	$4.35 million	Quarter ended September 30, 2025
Cumulative Revenue (Year-to-Date)	$13.4 million	Nine months ended September 30, 2025
CommSuite Revenue	$0.79 million	Q3 2025

Beyond the carrier subscription model, Smith Micro Software, Inc. (SMSI) also generates income through licensing fees for SafePath OS integration on dedicated devices. This suggests revenue streams that are not solely tied to the mobile subscriber base but also to the hardware ecosystem where their safety software is embedded. The company's focus on expanding the SafePath ecosystem across the entire digital safety journey for families, from kids to seniors, is designed to broaden this licensing opportunity.

The revenue streams can be summarized by their drivers:

• Subscription revenue from SafePath platform licenses paid by carriers.
• CommSuite revenue, which was $0.79 million in Q3 2025.
• Revenue from new feature launches and expanded carrier deployments.
• Total Trailing Twelve Months (TTM) revenue of $18.35 million as of late 2025.
• Licensing fees for SafePath OS integration on dedicated devices.

The year-to-date revenue through the first nine months of 2025 stood at $13.4 million, reflecting a decline from the prior year's comparable period.