SmartRent, Inc. SMRT
We are an enterprise real estate technology company that provides a comprehensive management platform designed for property owners, managers and residents. Our suite of products and services, which includes cloud-based software-as-a-service ("SaaS") solutions many of which are enabled by smart building hardware, provide seamless visibility and control over real estate assets. Our platform can lower operating costs, increase revenues, mitigate operational friction and protect assets for owners and operators, while providing a differentiated, elevated living experience for residents.
Through centrally connected devices ("Hub Devices"), which integrate our enterprise software with third party smart devices, we enable the integration of our platform with third-party smart devices, our own hardware devices and other technology interfaces. We use an open-architecture, brand-agnostic approach that allows owners, operators, and residents to manage their smart home systems through a single connected interface. Our Smart Community solutions include software and devices that power (i) smart apartments and homes, (ii) access control for buildings, common areas, and rental units, (iii) community and resident WiFi, and other solutions such as asset protection and monitoring and self-guided tours. Our Smart Operations solutions include work order management, the automation of leasing and resident call handling, audit management, and the automation of the inspection process. We also have a professional services team that provides customers with training, installation, and support services.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Smart Apartments
- Smart Operations Solutions
- Access Control
- Other
| Segment | FY2025 | FY2023 |
|---|---|---|
| Smart Apartments | $127.5M | $211.1M |
| Smart Operations Solutions | $10.7M | $11.3M |
| Access Control | $7.4M | $8.0M |
| Other | $6.7M | $6.3M |
As the company reported it, from the “Revenue and Deferred Revenue - Summary of Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $152.3M | $174.9M | $236.8M | $167.8M | $110.6M | $52.5M | — |
| Cost of revenue | $102.5M | $114.5M | $187.3M | $166.5M | $120.7M | $56.8M | — |
| Gross profit | $49.9M | $60.3M | $49.5M | $1.3M | -$10.1M | -$4.3M | — |
| R&D | $26.2M | $29.4M | $28.8M | $29.4M | $21.6M | $9.4M | — |
| SG&A | $43.2M | $54.3M | $44.7M | $55.3M | $26.0M | $16.6M | — |
| Total operating expenses | $88.9M | $102.1M | $92.7M | $105.6M | $61.6M | $31.4M | — |
| Operating income | -$64.0M | -$41.8M | -$43.2M | -$104.3M | -$71.7M | -$35.7M | — |
| Interest expense | — | $8.2M | $8.6M | $1.9M | $249.0K | $559.0K | — |
| Pre-tax income | -$60.5M | -$33.4M | -$34.7M | -$101.7M | -$71.8M | -$37.0M | — |
| Income tax | $41.0K | $267.0K | $108.0K | $5.4M | $115.0K | $149.0K | — |
| Net income | -$60.6M | -$33.6M | -$34.6M | -$96.3M | -$72.0M | -$37.1M | — |
| EPS, basic | -0.32 | -0.17 | -0.17 | -0.49 | -0.96 | -4.32 | — |
| EPS, diluted | -0.32 | -0.17 | -0.17 | -0.49 | -0.96 | -4.32 | — |
| Shares, diluted (wtd. avg.) | 189.7M | 199.2M | 200.7M | 195.6M | 74.7M | 8,598 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $104.5M | $142.5M | $215.2M | $210.4M | $430.8M | $38.6M | — |
| Receivables | $47.4M | $59.3M | $61.9M | $62.4M | $45.5M | $20.8M | — |
| Inventory | $26.7M | $35.3M | $41.6M | $75.7M | $33.2M | $17.6M | — |
| Total current assets | $187.9M | $257.6M | $340.3M | $378.4M | $536.0M | $87.7M | — |
| Property, plant and equipment | $5.1M | $2.5M | $1.4M | $2.1M | $1.9M | $847.0K | — |
| Goodwill | $92.3M | $117.3M | $117.3M | $117.3M | $0 | $4.2M | — |
| Other intangibles | $19.5M | $23.4M | $27.2M | $31.1M | $0 | — | — |
| Total assets | $320.9M | $420.2M | $509.8M | $560.8M | $579.7M | $103.8M | — |
| Accounts payable | $13.0M | $8.7M | $15.1M | $18.4M | $6.1M | $2.3M | — |
| Short-term debt | — | — | — | — | — | $1.7M | — |
| Total current liabilities | $60.0M | $71.0M | $117.3M | $132.8M | $70.6M | $32.8M | — |
| Total liabilities | $88.8M | $130.7M | $167.3M | $196.6M | $130.2M | $70.7M | — |
| Retained earnings | -$413.3M | -$347.8M | -$285.5M | -$250.9M | -$154.6M | -$82.6M | — |
| Total equity | $232.1M | $289.4M | $342.4M | $364.2M | $449.5M | -$78.2M | -$44.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21.6M | -$32.9M | $6.0M | -$77.8M | -$70.4M | -$28.5M | — |
| Depreciation and amortisation | $8.4M | $6.5M | $5.5M | $4.3M | $463.0K | $295.0K | — |
| Stock-based compensation | $8.8M | $12.1M | $13.2M | $12.9M | $7.3M | $1.1M | — |
| Capital expenditure | $3.6M | $1.8M | $147.0K | $1.1M | $1.5M | $298.0K | — |
| Investing cash flow | -$8.6M | -$7.6M | -$6.0M | -$134.0M | -$9.4M | -$2.7M | — |
| Financing cash flow | -$7.4M | -$33.0M | -$1.9M | -$2.8M | $473.9M | $48.2M | — |
| Buybacks | $4.9M | $28.6M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-089953.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $52.5M | $110.6M | $167.8M | $236.8M | $174.9M | $152.3M |
| Gross profit | — | -$4.3M | -$10.1M | $1.3M | $49.5M | $60.3M | $49.9M |
| Net income | — | -$37.1M | -$72.0M | -$96.3M | -$34.6M | -$33.6M | -$60.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7373
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| IOT | Samsara Inc. | $26.14B | — | 29.6% |
| LDOS | Leidos Holdings, Inc. | $17.08B | 12.2x | 3.2% |
| GDDY | GoDaddy Inc. | $14.28B | 18.1x | 8.3% |
| CACI | CACI INTERNATIONAL INC /DE/ | $14.01B | 26.2x | 10.9% |
| IONQ | IonQ, Inc. | $11.91B | — | 201.9% |
| JKHY | JACK HENRY & ASSOCIATES INC | $11.40B | 23.3x | 7.1% |
| AUR | Aurora Innovation, Inc. | $9.50B | — | — |
| OTEX | OPEN TEXT CORP | $6.77B | 10.8x | 1.5% |