SMITH MICRO SOFTWARE, INC. (SMSI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: June 04, 2026

Risk Assessment Details

Potential Dilution: 100.39% of current shares
Recent Dilution: 112.7% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
5.1M
Potential Supply
5.1M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

SMSI currently has 5.11M outstanding shares. with significant dilution risk as 5.13M authorized shares could dilute existing holders by 100.4%. The company has significantly diluted shareholders by 112.7% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 04, 2026
Stock Split

8-K filing: Stock split 1-for-5 | Outstanding: 25,557,408 → 5,111,481

5.1M 5.1M
May 08, 2026

S-1 filing: This is an S-1 filing registering the resale of common stock by selling stockholders, including shares issuable upon exercise of warrants and conversion of convertible notes.

26M 26M
Dec 04, 2025

S-1 filing: This S-1 filing registers the resale of common stock by selling stockholders, including shares from a private placement, and shares issuable upon exercise of warrants.

25M 7.8M
Nov 10, 2025

8-K filing: Smith Micro Software, Inc. completed a registered direct offering of 1,714,373 shares of common stock at $0.6708 per share and a concurrent private placement to its CEO of 2,236,136 unregistered shares of common stock at $0.6708 per share. ($2.65M proceeds)

21M 2.9M
Nov 05, 2025

10-Q filing | 21.0M shares outstanding

21M 2.9M
Aug 07, 2025

10-Q filing | 19.4M shares outstanding

19M 4.5M
Aug 07, 2025

S-1 filing: This prospectus relates to the resale or other disposition from time to time by the selling stockholders of up to 1,612,903 shares of our common stock issuable upon the exercise of certain warrants held by the Selling Stockholders.

21M 2.9M
Jul 18, 2025

8-K filing: Smith Micro Software, Inc. completed a registered direct offering and sale of 1,612,903 shares of common stock at $0.93 per share, along with a concurrent private placement of warrants to purchase up to 1,612,903 shares. ($3.0M proceeds)

18M 4.1M
May 08, 2025

10-Q filing | 18.2M shares outstanding

18M 4.1M
May 07, 2025

S-3 filing: The company is filing a shelf registration to sell up to $75,000,000 in various securities including common stock, preferred stock, warrants, and/or units.

18M 4.5M
Mar 12, 2025

10-K filing | 17.8M shares outstanding

18M 4.5M
Nov 14, 2024

10-Q filing | 17.7M shares outstanding

18M 4.5M
Oct 28, 2024

S-1 filing: This S-1 filing registers the resale of common stock and shares of common stock issuable upon exercise of warrants by selling stockholders.

18M 4.5M
Oct 03, 2024

8-K filing: Smith Micro Software, Inc. completed a registered direct offering of 3,321,881 shares of common stock at $1.165 per share and a concurrent private placement with its CEO for 2,575,107 shares at $1.165 per share. ($6.87M proceeds)

11M 2.7M
Sep 16, 2024

RW filing: Smith Micro Software, Inc. requests the withdrawal of its Registration Statement on Form S-1 (File No. 333-281349) originally filed on August 7, 2024, because the Company has determined not to pursue the offering of securities covered by the Registration Statement at this time.

11M 2.7M
Aug 07, 2024

S-1 filing: Smith Micro Software, Inc. is filing an S-1 to offer common stock, pre-funded warrants and common warrants.

11M 2.7M
Aug 05, 2024

10-Q filing | 10.6M shares outstanding

11M 3.2M
Jun 27, 2024

S-1 filing: Smith Micro Software, Inc. is registering the resale of 2,043,700 shares of Common Stock issuable upon exercise of warrants by selling stockholders.

11M 3.2M
May 09, 2024

10-Q filing | 9.5M shares outstanding

9.5M 2.3M
Apr 10, 2024
Stock Split

8-K filing: Stock split 1-for-8 | Outstanding: 74,935,907 → 9,366,988

9.4M 2.4M
Feb 26, 2024

10-K filing | 74.9M shares outstanding

75M 19M
Nov 09, 2023

10-Q filing | 67.4M shares outstanding

67M 27M
Aug 10, 2023

10-Q filing | 62.5M shares outstanding

62M 31M
Jun 22, 2023

S-3 filing: This S-3 filing registers shares of common stock offered by selling stockholders, issuable pursuant to Notes and Warrants, and also discusses a private placement of Notes and Warrants, and a registered direct offering of common stock and warrants.

64M 30M
May 12, 2023

10-Q filing | 61.6M shares outstanding

62M 11M
Mar 23, 2023

10-K filing | 55.4M shares outstanding

55M 17M
Nov 14, 2022

10-Q filing | 55.7M shares outstanding

56M 17M
Sep 02, 2022

S-3 filing: An S-3 filing was submitted on 2022-09-02 for an offering of common stock.

56M 16M
Aug 12, 2022

10-Q filing | 55.2M shares outstanding

55M 7.7M
Aug 11, 2022

8-K filing: Smith Micro Software, Inc. entered into a Securities Purchase Agreement to sell senior secured convertible notes and warrants, and also entered into an Additional Purchase Agreement to sell shares of common stock and additional warrants in a registered direct offering. ($3.0M proceeds)

55M 8.4M
May 05, 2022

10-Q filing | 54.5M shares outstanding

55M 8.4M
May 04, 2022

S-3 filing: SMSI filed an S-3 registration statement on 2022-05-04 for a shelf offering of common stock, preferred stock, warrants, or units with a maximum aggregate offering price of $75,000,000.

51M 12M
Mar 11, 2022

10-K filing | 51.2M shares outstanding

51M 0
Nov 12, 2021

10-Q filing | 53.9M shares outstanding

54M 0
Aug 12, 2021

10-Q filing | 53.0M shares outstanding

53M 0
Jun 25, 2021

S-3 filing: This is an S-3 filing for Smith Micro Software, Inc. regarding the offering of up to 1,460,131 shares of common stock by a selling stockholder, which were issued as partial consideration for the acquisition of their Family Safety Mobile business. The company will not receive any proceeds from the sale of these shares.

53M 0
May 12, 2021

10-Q filing | 53.2M shares outstanding

53M 0
Mar 08, 2021

10-K filing | 42.8M shares outstanding

43M 0
Nov 09, 2020

10-Q filing | 41.4M shares outstanding

41M 0
Aug 10, 2020

10-Q filing | 41.1M shares outstanding

41M 0
May 11, 2020

10-Q filing | 42.2M shares outstanding

42M 0
May 07, 2020

S-3 filing: The company may offer and sell any combination of common stock, preferred stock, warrants, or units having a maximum aggregate offering price of $75,000,000.

37M 0
Mar 13, 2020

10-K filing | 37.0M shares outstanding

37M 0
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