The track was co-written with Michael Farrell for the Broadway musical take on Jagged Little Pill, as reported by Rolling Stone. The song finds Morissette reckoning with her past confidence issues, which she has been open about over the course of her decades in the spotlight. The lyrics, as per Genius, refer to the singer-songwriter waving "a white flag", "hitting bottom," and surrendering. She describes herself as a "notorious bottom dweller" and a "ceiling-less brave explorer" who's, "Lured to the ends of overwhelm."

Although it sounds like Morissette is feeling a bit hopeless, "Smiling" is actually an uplifting track about accepting who she truly is and powering through those moments of self doubt. "I keep on smiling / Keep on moving / Can't stand still," she trills passionately.