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Side-by-side financial comparison of CSP INC (CSPI) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $12.0M, roughly 3.0× CSP INC). CSP INC runs the higher net margin — 0.8% vs -8.9%, a 9.7% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -23.2%). SmartRent, Inc. produced more free cash flow last quarter ($7.7M vs $-3.0M). Over the past eight quarters, CSP INC's revenue compounded faster (-6.3% CAGR vs -15.0%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
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.
CSPI vs SMRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $36.5M |
| Net Profit | $91.0K | $-3.2M |
| Gross Margin | 39.3% | 38.6% |
| Operating Margin | -0.9% | -10.9% |
| Net Margin | 0.8% | -8.9% |
| Revenue YoY | -23.2% | 3.1% |
| Net Profit YoY | -80.7% | 71.6% |
| EPS (diluted) | $0.01 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.0M | $36.5M | ||
| Q3 25 | $14.5M | $36.2M | ||
| Q2 25 | $15.4M | $38.3M | ||
| Q1 25 | $13.1M | $41.3M | ||
| Q4 24 | $15.7M | $35.4M | ||
| Q3 24 | $13.0M | $40.5M | ||
| Q2 24 | $13.1M | $48.5M | ||
| Q1 24 | $13.7M | $50.5M |
| Q4 25 | $91.0K | $-3.2M | ||
| Q3 25 | $-191.0K | $-6.3M | ||
| Q2 25 | $-264.0K | $-10.9M | ||
| Q1 25 | $-108.0K | $-40.2M | ||
| Q4 24 | $472.0K | $-11.4M | ||
| Q3 24 | $-1.7M | $-9.9M | ||
| Q2 24 | $-185.0K | $-4.6M | ||
| Q1 24 | $1.6M | $-7.7M |
| Q4 25 | 39.3% | 38.6% | ||
| Q3 25 | 36.6% | 26.4% | ||
| Q2 25 | 28.8% | 33.1% | ||
| Q1 25 | 32.0% | 32.8% | ||
| Q4 24 | 29.1% | 28.7% | ||
| Q3 24 | 28.4% | 33.2% | ||
| Q2 24 | 35.0% | 35.7% | ||
| Q1 24 | 47.3% | 38.5% |
| Q4 25 | -0.9% | -10.9% | ||
| Q3 25 | -3.7% | -19.4% | ||
| Q2 25 | -7.9% | -30.5% | ||
| Q1 25 | -7.6% | -99.9% | ||
| Q4 24 | -2.3% | -36.6% | ||
| Q3 24 | -15.7% | -29.0% | ||
| Q2 24 | -5.5% | -14.3% | ||
| Q1 24 | 9.0% | -20.1% |
| Q4 25 | 0.8% | -8.9% | ||
| Q3 25 | -1.3% | -17.3% | ||
| Q2 25 | -1.7% | -28.3% | ||
| Q1 25 | -0.8% | -97.2% | ||
| Q4 24 | 3.0% | -32.3% | ||
| Q3 24 | -12.7% | -24.5% | ||
| Q2 24 | -1.4% | -9.5% | ||
| Q1 24 | 11.6% | -15.2% |
| Q4 25 | $0.01 | $-0.02 | ||
| Q3 25 | $-0.02 | $-0.03 | ||
| Q2 25 | $-0.03 | $-0.06 | ||
| Q1 25 | $-0.01 | $-0.21 | ||
| Q4 24 | $0.05 | $-0.06 | ||
| Q3 24 | $-0.17 | $-0.05 | ||
| Q2 24 | $-0.02 | $-0.02 | ||
| Q1 24 | $0.16 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $44.8M | $232.1M |
| Total Assets | $69.2M | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $104.5M | ||
| Q3 25 | $27.4M | $100.0M | ||
| Q2 25 | $26.3M | $105.0M | ||
| Q1 25 | $29.5M | $125.6M | ||
| Q4 24 | $30.7M | $142.5M | ||
| Q3 24 | $30.6M | $163.4M | ||
| Q2 24 | $28.9M | $187.4M | ||
| Q1 24 | $27.1M | $204.7M |
| Q4 25 | $44.8M | $232.1M | ||
| Q3 25 | $44.6M | $234.4M | ||
| Q2 25 | $47.5M | $238.8M | ||
| Q1 25 | $47.5M | $250.7M | ||
| Q4 24 | $47.5M | $289.4M | ||
| Q3 24 | $47.3M | $305.1M | ||
| Q2 24 | $48.1M | $329.4M | ||
| Q1 24 | $48.2M | $333.1M |
| Q4 25 | $69.2M | $320.9M | ||
| Q3 25 | $71.2M | $335.8M | ||
| Q2 25 | $66.8M | $354.0M | ||
| Q1 25 | $67.1M | $366.1M | ||
| Q4 24 | $67.5M | $420.2M | ||
| Q3 24 | $69.4M | $448.6M | ||
| Q2 24 | $66.8M | $475.3M | ||
| Q1 24 | $64.2M | $485.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $7.7M |
| Free Cash FlowOCF − Capex | $-3.0M | $7.7M |
| FCF MarginFCF / Revenue | -25.1% | 21.0% |
| Capex IntensityCapex / Revenue | 0.9% | 0.0% |
| Cash ConversionOCF / Net Profit | -32.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $7.7M | ||
| Q3 25 | $1.9M | $-2.1M | ||
| Q2 25 | $-3.3M | $-14.9M | ||
| Q1 25 | $1.9M | $-12.2M | ||
| Q4 24 | $1.7M | $-12.0M | ||
| Q3 24 | $-1.5M | $-3.7M | ||
| Q2 24 | $2.4M | $-13.9M | ||
| Q1 24 | $1.7M | $-3.3M |
| Q4 25 | $-3.0M | $7.7M | ||
| Q3 25 | $1.7M | $-2.2M | ||
| Q2 25 | $-3.3M | $-16.2M | ||
| Q1 25 | $1.9M | $-14.3M | ||
| Q4 24 | $1.7M | $-13.3M | ||
| Q3 24 | $-1.5M | $-3.9M | ||
| Q2 24 | $2.4M | $-14.1M | ||
| Q1 24 | $1.6M | $-3.4M |
| Q4 25 | -25.1% | 21.0% | ||
| Q3 25 | 11.5% | -6.1% | ||
| Q2 25 | -21.7% | -42.3% | ||
| Q1 25 | 14.5% | -34.7% | ||
| Q4 24 | 10.8% | -37.5% | ||
| Q3 24 | -11.7% | -9.7% | ||
| Q2 24 | 17.9% | -29.1% | ||
| Q1 24 | 11.9% | -6.7% |
| Q4 25 | 0.9% | 0.0% | ||
| Q3 25 | 1.6% | 0.2% | ||
| Q2 25 | 0.4% | 3.3% | ||
| Q1 25 | 0.1% | 5.3% | ||
| Q4 24 | 0.3% | 3.5% | ||
| Q3 24 | 0.1% | 0.6% | ||
| Q2 24 | 0.3% | 0.5% | ||
| Q1 24 | 0.1% | 0.1% |
| Q4 25 | -32.04× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.69× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
