SmartRent, Inc.SMRTEarnings & Financial Report
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
Revenue
$41.3M
Gross Profit
$13.6M
Operating Profit
$-41.3M
Net Profit
$-40.2M
Gross Margin
32.8%
Operating Margin
-99.9%
Net Margin
-97.2%
YoY Growth
-18.1%
EPS
$-0.21
SmartRent, Inc. Q1 FY2025 Financial Summary
SmartRent, Inc. reported revenue of $41.3M (down 18.1% YoY) for Q1 FY2025, with a net profit of $-40.2M (down 422.4% YoY) (-97.2% margin). Cost of goods sold was $27.8M, operating expenses totaled $54.9M.
Key Financial Metrics
| Total Revenue | $41.3M |
|---|---|
| Net Profit | $-40.2M |
| Gross Margin | 32.8% |
| Operating Margin | -99.9% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
SmartRent, Inc. Q1 FY2025 revenue of $41.3M breaks down across 5 segments, led by Hardware Service at $18.8M (45.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Hardware Service | $18.8M | 45.5% |
| Software As A Service | $14.0M | 33.8% |
| Deferred Hub Amortization | $4.7M | 11.3% |
| Smart Operations Solutions | $2.8M | 6.8% |
| Other Smart Communities Solutions | $1.4M | 3.3% |
SmartRent, Inc. Revenue by Segment — Quarterly Trend
SmartRent, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Hardware Service and Software As A Service) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Hardware Service | $12.5M | $11.5M | $15.1M | $18.8M |
| Software As A Service | — | $14.2M | $14.2M | $14.0M |
| Deferred Hub Amortization | — | — | $4.6M | $4.7M |
| Smart Operations Solutions | $2.6M | — | $2.6M | $2.8M |
| Other Smart Communities Solutions | $1.3M | $1.5M | — | $1.4M |
SmartRent, Inc. Annual Revenue by Year
SmartRent, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $152.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $152.3M |
| 2024 | $174.9M |
| 2023 | $236.8M |
| 2022 | $167.8M |
SmartRent, Inc. Quarterly Revenue & Net Profit History
SmartRent, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $36.5M | +3.1% | $-3.2M | -8.9% |
| Q3 FY2025 | $36.2M | -10.6% | $-6.3M | -17.3% |
| Q2 FY2025 | $38.3M | -21.0% | $-10.9M | -28.3% |
| Q1 FY2025 | $41.3M | -18.1% | $-40.2M | -97.2% |
| Q4 FY2024 | $35.4M | -41.3% | $-11.4M | -32.3% |
| Q3 FY2024 | $40.5M | -30.3% | $-9.9M | -24.5% |
| Q2 FY2024 | $48.5M | -9.1% | $-4.6M | -9.5% |
| Q1 FY2024 | $50.5M | -22.4% | $-7.7M | -15.2% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50.5M | $48.5M | $40.5M | $35.4M | $41.3M | $38.3M | $36.2M | $36.5M |
| YoY Growth | -22.4% | -9.1% | -30.3% | -41.3% | -18.1% | -21.0% | -10.6% | 3.1% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $485.5M | $475.3M | $448.6M | $420.2M | $366.1M | $354.0M | $335.8M | $320.9M |
| Liabilities | $152.4M | $146.0M | $143.5M | $130.7M | $115.4M | $115.1M | $101.4M | $88.8M |
| Equity | $333.1M | $329.4M | $305.1M | $289.4M | $250.7M | $238.8M | $234.4M | $232.1M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-3.3M | $-13.9M | $-3.7M | $-12.0M | $-12.2M | $-14.9M | $-2.1M | $7.7M |