Smartrent, Inc. income statement
In fiscal 2025, Smartrent, Inc. reported revenue of $152m, down 12.9% on the year before, operating income of −$64.0m (a -42.0% margin) and net income of −$60.6m, or −$0.32 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 53 | 111 | 168 | 237 | 175 | 152 | 151 |
| Cost of revenue | 57 | 121 | 166 | 187 | 115 | 102 | 96 |
| Gross profit | −4 | −10 | 1 | 50 | 60 | 50 | 55 |
| Research and development | 9 | 22 | 29 | 29 | 29 | 26 | 23 |
| Selling and marketing | 5 | 14 | 21 | 19 | 18 | 19 | 18 |
| General and administrative | 17 | 26 | 55 | 45 | 54 | 43 | 36 |
| Operating income | −36 | −72 | −104 | −43 | −42 | −64 | −23 |
| Net interest income | −1 | −0 | 2 | 9 | 8 | — | — |
| Provision for credit losses | 0 | 1 | 1 | 1 | — | — | — |
| Income before tax | −37 | −72 | −102 | −35 | −33 | −61 | −20 |
| Income tax | 0 | 0 | −5 | −0 | 0 | 0 | −0 |
| Net income | −37 | −72 | −96 | −35 | −34 | −61 | −20 |
| Diluted EPS | −$4.32 | −$0.96 | −$0.49 | −$0.17 | −$0.17 | −$0.32 | −$0.10 |
| Diluted shares (average) | — | 75m | 196m | 201m | 199m | 190m | 190m |
| EBITDA | −35 | −71 | −100 | −38 | −35 | −56 | −14 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41 | 35 | 41 | 38 | 36 | 36 | 39 | 40 |
| Cost of revenue | 27 | 25 | 28 | 26 | 27 | 22 | 24 | 24 |
| Gross profit | 13 | 10 | 14 | 13 | 10 | 14 | 15 | 16 |
| Research and development | 7 | 7 | 8 | 6 | 6 | 5 | 6 | 6 |
| Selling and marketing | 4 | 5 | 5 | 6 | 4 | 4 | 4 | 5 |
| General and administrative | 14 | 11 | 17 | 12 | 6 | 9 | 10 | 12 |
| Operating income | −12 | −13 | −41 | −12 | −7 | −4 | −5 | −6 |
| Net interest income | 2 | 2 | 1 | 1 | 1 | — | — | — |
| Income before tax | −10 | −11 | −40 | −11 | −6 | −3 | −4 | −6 |
| Income tax | 0 | 0 | 0 | −0 | 0 | −0 | 0 | −0 |
| Net income | −10 | −11 | −40 | −11 | −6 | −3 | −4 | −6 |
| Diluted EPS | −$0.05 | −$0.06 | −$0.21 | −$0.06 | −$0.03 | −$0.02 | −$0.02 | −$0.03 |
| EBITDA | −10 | −11 | −39 | −10 | −5 | −2 | −3 | −4 |
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