Smith Micro Software (SMSI) investor relations material

Company overview and business model

• Provides software solutions for mobile experience enhancement, focusing on digital family lifestyle and voice messaging for wireless service providers globally.

• Offers SafePath® for family safety and device management, and CommSuite® for premium voicemail and messaging.

• Operates in the wireless segment, targeting mobile network operators (MNOs) and cable operators as primary customers.

• Business model leverages operator relationships, focuses on high-growth digital lifestyle markets, and aims to expand its customer base among MNOs and MSOs.

• Faces customer concentration risk due to reliance on a limited number of large clients.

Financial performance and metrics

• As of March 31, 2026, historical net tangible book value was $1.0 million, or $0.20 per share, adjusted for the reverse stock split.

• Net tangible book value would have been $0.51 per share if proceeds from the June 2026 warrant transaction were included.

• Recent financing activities include a $1 million debt transaction in February 2026 and a $4.9 million convertible debt transaction in March 2026.

Use of proceeds and capital allocation

• Will not receive proceeds from resale of shares by selling stockholders; may receive up to $1.85 million if all warrants are exercised for cash.

• Any proceeds from warrant exercises will be used for general corporate purposes and working capital.