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Side-by-side financial comparison of SMITH MICRO SOFTWARE, INC. (SMSI) and Virgin Galactic Holdings, Inc (SPCE). Click either name above to swap in a different company.

Virgin Galactic Holdings, Inc is the larger business by last-quarter revenue ($4.2M vs $4.0M, roughly 1.1× SMITH MICRO SOFTWARE, INC.). On growth, Virgin Galactic Holdings, Inc posted the faster year-over-year revenue change (125.5% vs -20.0%).

Smith Micro Software, Inc., founded in 1982 by William W. Smith, Jr., is a developer and marketer of both enterprise and consumer-level software and services. Headquartered in Pittsburgh, Pennsylvania, Smith Micro maintains multiple domestic and international offices. United States locations include Aliso Viejo, California, and Pittsburgh, Pennsylvania. International offices are located throughout Europe and Asia. Currently, the company focuses on digital lifestyle solutions and security tech...

Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.

SMSI vs SPCE — Head-to-Head

Bigger by revenue
SPCE
SPCE
1.1× larger
SPCE
$4.2M
$4.0M
SMSI
Growing faster (revenue YoY)
SPCE
SPCE
+145.6% gap
SPCE
125.5%
-20.0%
SMSI

Income Statement — Q4 FY2025 vs Q2 FY2024

Metric
SMSI
SMSI
SPCE
SPCE
Revenue
$4.0M
$4.2M
Net Profit
$-93.8M
Gross Margin
76.4%
-546.6%
Operating Margin
-109.8%
-2412.1%
Net Margin
-2222.2%
Revenue YoY
-20.0%
125.5%
Net Profit YoY
30.2%
EPS (diluted)
$-0.15
$-4.36

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
SMSI
SMSI
SPCE
SPCE
Q4 25
$4.0M
Q3 25
$4.3M
Q2 25
$4.4M
Q1 25
$4.6M
Q4 24
$5.0M
Q3 24
$4.6M
Q2 24
$5.1M
$4.2M
Q1 24
$5.8M
$2.0M
Net Profit
SMSI
SMSI
SPCE
SPCE
Q4 25
Q3 25
$-4.5M
Q2 25
$-15.1M
Q1 25
$-5.2M
Q4 24
Q3 24
$-6.4M
Q2 24
$-6.9M
$-93.8M
Q1 24
$-31.0M
$-102.0M
Gross Margin
SMSI
SMSI
SPCE
SPCE
Q4 25
76.4%
Q3 25
73.9%
Q2 25
73.5%
Q1 25
72.8%
Q4 24
75.6%
Q3 24
71.6%
Q2 24
68.7%
-546.6%
Q1 24
65.7%
-1038.1%
Operating Margin
SMSI
SMSI
SPCE
SPCE
Q4 25
-109.8%
Q3 25
-103.2%
Q2 25
-338.3%
Q1 25
-112.7%
Q4 24
-89.7%
Q3 24
-140.0%
Q2 24
-135.8%
-2412.1%
Q1 24
-542.4%
-5599.9%
Net Margin
SMSI
SMSI
SPCE
SPCE
Q4 25
Q3 25
-104.3%
Q2 25
-340.8%
Q1 25
-112.1%
Q4 24
Q3 24
-137.0%
Q2 24
-134.8%
-2222.2%
Q1 24
-534.8%
-5139.1%
EPS (diluted)
SMSI
SMSI
SPCE
SPCE
Q4 25
$-0.15
Q3 25
$-0.25
Q2 25
$-0.78
Q1 25
$-0.28
Q4 24
$0.54
Q3 24
$-0.54
Q2 24
$-0.66
$-4.36
Q1 24
$-3.28
$-5.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
SMSI
SMSI
SPCE
SPCE
Cash + ST InvestmentsLiquidity on hand
$1.5M
$775.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$18.4M
$394.8M
Total Assets
$25.0M
$1.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SMSI
SMSI
SPCE
SPCE
Q4 25
$1.5M
Q3 25
$1.4M
Q2 25
$1.4M
Q1 25
$2.3M
Q4 24
$2.8M
Q3 24
$1.5M
Q2 24
$5.6M
$775.7M
Q1 24
$6.2M
$765.2M
Stockholders' Equity
SMSI
SMSI
SPCE
SPCE
Q4 25
$18.4M
Q3 25
$19.9M
Q2 25
$22.4M
Q1 25
$36.6M
Q4 24
$40.8M
Q3 24
$37.7M
Q2 24
$42.9M
$394.8M
Q1 24
$45.4M
$417.6M
Total Assets
SMSI
SMSI
SPCE
SPCE
Q4 25
$25.0M
Q3 25
$27.1M
Q2 25
$29.6M
Q1 25
$43.4M
Q4 24
$48.0M
Q3 24
$46.2M
Q2 24
$53.0M
$1.1B
Q1 24
$55.4M
$1.1B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
SMSI
SMSI
SPCE
SPCE
Operating Cash FlowLast quarter
$-2.2M
$-79.1M
Free Cash FlowOCF − Capex
$-113.5M
FCF MarginFCF / Revenue
-2690.7%
Capex IntensityCapex / Revenue
815.5%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-458.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SMSI
SMSI
SPCE
SPCE
Q4 25
$-2.2M
Q3 25
$-2.1M
Q2 25
$-2.3M
Q1 25
$-602.0K
Q4 24
$-4.9M
Q3 24
$-3.8M
Q2 24
$-4.2M
$-79.1M
Q1 24
$-1.3M
$-113.2M
Free Cash Flow
SMSI
SMSI
SPCE
SPCE
Q4 25
Q3 25
$-2.2M
Q2 25
Q1 25
$-606.0K
Q4 24
$-4.9M
Q3 24
$-3.8M
Q2 24
$-4.2M
$-113.5M
Q1 24
$-1.3M
$-126.3M
FCF Margin
SMSI
SMSI
SPCE
SPCE
Q4 25
Q3 25
-49.6%
Q2 25
Q1 25
-13.1%
Q4 24
-99.2%
Q3 24
-82.2%
Q2 24
-82.0%
-2690.7%
Q1 24
-23.3%
-6362.8%
Capex Intensity
SMSI
SMSI
SPCE
SPCE
Q4 25
Q3 25
0.5%
Q2 25
Q1 25
0.1%
Q4 24
0.1%
Q3 24
0.1%
Q2 24
0.1%
815.5%
Q1 24
0.1%
658.5%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

SMSI
SMSI

Family Safety$3.2M80%
Other$797.0K20%

SPCE
SPCE

Segment breakdown not available.

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