SMSI — what changed in the latest 10-Q
A section-by-section comparison of SMSI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-14 vs the prior 10-Q · 2026-05-01
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +33 | −18 | ~8 | 36 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-14
In the second quarter of 2026, our revenues decreased by 2% to $4.3 million compared to the second quarter of 2025, primarily driven by a $0.1 million decrease in our Family Safety product line partially offset with an increase in CommSuite revenues of $26 thousand. As a result of the decrease in co…
In the first quarter of 2026 we received approximately $1.0 million in gross cash proceeds from the sale of a secured note and accompanying unregistered common stock purchase warrants, and additional gross proceeds of $4.9 million from the sale of secured convertible notes and warrants to acquire up…
On June 4, 2026, we effected a one-for-five (1:5) reverse stock split of the shares of the Company's Common Stock, par value $0.001 per share. At the effective time, every five shares of our Common Stock were automatically combined and converted (without any further act) into one share of fully paid…
The table below sets forth certain statements of operations and comprehensive loss data expressed as a percentage of revenues for the three and six months ended June 30, 2026 and 2025. Our historical results are not necessarily indicative of the operating results that may be expected in the future.
Three Months Ended June 30, 2026 Compared to the Three Months Ended June 30, 2025
Text removed vs the prior filing · source: 10-Q · 2026-05-01
In the first quarter of 2026, our revenues decreased by 9% to $4.2 million compared to the first quarter of 2025, primarily driven by a $0.4 million decrease in our Family Safety product line, coupled with a $0.1 million decrease in ViewSpot revenues, partially offset by an increase of $0.1 million …
In 2025, we received approximately $1.5 million in gross proceeds from a registered direct offering of Common Stock and a concurrent private placement of warrants, approximately $1.2 million for short-term notes and warrants and subsequently approximately $2.7 million from concurrent registered dire…
In the first quarter ended March 31, 2026, the Company received approximately $1.0 million in gross cash proceeds from the sale of a secured notes and accompanying unregistered common stock purchase warrants, and additional gross proceeds of $4.9 million from the sale of secured convertible notes an…
The table below sets forth certain statements of operations and comprehensive loss data expressed as a percentage of revenues for the three months ended March 31, 2026 and 2025. Our historical results are not necessarily indicative of the operating results that may be expected in the future.
Three Months Ended March 31, 2026 Compared to the Three Months Ended March 31, 2025
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice