We introduce SlowFast-LLaVA-1.5 (abbreviated as SF-LLaVA-1.5), a family of video large language models (LLMs) offering a token-efficient solution for long-form video understanding. We incorporate the two-stream SlowFast mechanism into a streamlined training pipeline, and perform joint video-image training on a carefully curated data mixture of only publicly available datasets. Our primary focus is on highly efficient model scales (1B and 3B), demonstrating that even relatively small Video LLMs can achieve state-of-the-art performance on video understanding, meeting the demand for mobile-friendly models. Experimental results demonstrate that SF-LLaVA-1.5 achieves superior performance on a wide range of video and image tasks, with robust results at all model sizes (ranging from 1B to 7B). Notably, SF-LLaVA-1.5 achieves state-of-the-art results in long-form video understanding (e.g., LongVideoBench and MLVU) and excels at small scales across various video benchmarks.