SmartRent (SMRT) Financial Statements & Analysis

SmartRent (SMRT) Income Statement

SmartRent reported revenue of $152.33M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 12.9% from $174.88M a year earlier. SmartRent posted a net loss of $60.56M, compared with a net loss of $33.64M a year earlier. Gross margin was 32.7% and operating margin -42.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $39.84M, up 4.0% from the same quarter a year earlier.

SmartRent Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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SmartRent, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Revenue & Gross Profit
Revenue	152.33	174.89	236.84	167.82	110.64	52.53	36.23
Cost of Revenue	102.50	114.55	187.31	166.47	120.71	56.85	37.29
Gross Profit	49.87	60.34	49.53	1.35	-10.07	-4.32	-1.06
Operating Expenses
Research & Development	26.22	29.37	28.81	29.42	21.57	9.41	7.73
Selling, General & Administrative	58.04	72.74	63.88	76.18	40.01	17.91	15.65
Operating Expenses	113.85	102.11	92.69	105.60	61.58	27.32	29.05
Operating Income	-63.98	-41.77	-43.16	-104.25	-71.65	-31.64	-24.43
Other Income/Expense
Interest Income	4.30	8.24	8.98	1.95	0.00	0.00	0.16
Interest Expense	0.38	0.00	0.40	0.00	0.25	-0.56	0.00
Other Income/Expense	3.46	8.40	-0.12	0.60	0.06	-0.22	-0.43
Income
Income Before Tax	-60.52	-33.38	-34.70	-101.71	-71.85	-36.96	-30.26
Income Tax Expense	0.04	0.27	-0.11	-5.39	0.12	0.15	0.00
Net Income	-60.56	-33.64	-34.59	-96.32	-71.96	-37.11	-33.47
Net Income - Continuous Operations	-60.56	-33.64	-34.59	-96.32	-71.96	-37.11	-33.47
Net Income - Discontinued Operations	-	-	-	-	-	-	-
EBITDA	-29.46	-26.88	-28.77	-99.99	-71.19	-31.34	-24.38
EBIT	-34.44	-40.50	-34.30	-104.25	-71.65	-31.64	-
Depreciation & Amortization	8.24	6.50	5.53	4.26	0.46	0.30	0.06
Earnings Per Share
Basic EPS	-	-	-	-	-1.00	-4.00	-36.00
Diluted EPS	-	-	-	-	-1.00	-4.00	-36.00
Basic Shares Outstanding	189.68	199.18	200.70	195.58	74.72	8.60	0.92
Diluted Shares Outstanding	189.68	199.18	200.70	195.58	74.72	8.60	0.92

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About SmartRent Financial Statements

What was SmartRent's revenue in fiscal 2025?

SmartRent reported revenue of $152.33M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 12.9% from $174.88M a year earlier.

Is SmartRent profitable?

No. SmartRent reported a net loss of $60.56M in fiscal 2025. In fiscal 2024 it lost $33.64M.

What is SmartRent's operating margin?

SmartRent's operating income was −$63.98M on revenue of $152.33M in fiscal 2025, an operating margin of -42.0%, compared with -23.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition