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Side-by-side financial comparison of NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) 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 $23.3M, roughly 1.6× NORTHERN TECHNOLOGIES INTERNATIONAL CORP). NORTHERN TECHNOLOGIES INTERNATIONAL CORP runs the higher net margin — 1.0% vs -8.9%, a 9.9% gap on every dollar of revenue. On growth, NORTHERN TECHNOLOGIES INTERNATIONAL CORP posted the faster year-over-year revenue change (9.2% vs 3.1%). SmartRent, Inc. produced more free cash flow last quarter ($7.7M vs $-479.7K). Over the past eight quarters, NORTHERN TECHNOLOGIES INTERNATIONAL CORP's revenue compounded faster (5.8% CAGR vs -15.0%).
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NTIC vs SMRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.3M | $36.5M |
| Net Profit | $237.8K | $-3.2M |
| Gross Margin | 36.0% | 38.6% |
| Operating Margin | 4.0% | -10.9% |
| Net Margin | 1.0% | -8.9% |
| Revenue YoY | 9.2% | 3.1% |
| Net Profit YoY | -57.6% | 71.6% |
| EPS (diluted) | $0.03 | $-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 | $23.3M | $36.5M | ||
| Q3 25 | $22.3M | $36.2M | ||
| Q2 25 | $21.5M | $38.3M | ||
| Q1 25 | $19.1M | $41.3M | ||
| Q4 24 | $21.3M | $35.4M | ||
| Q3 24 | $23.3M | $40.5M | ||
| Q2 24 | $20.7M | $48.5M | ||
| Q1 24 | $20.8M | $50.5M |
| Q4 25 | $237.8K | $-3.2M | ||
| Q3 25 | $-1.1M | $-6.3M | ||
| Q2 25 | $121.8K | $-10.9M | ||
| Q1 25 | $434.3K | $-40.2M | ||
| Q4 24 | $561.1K | $-11.4M | ||
| Q3 24 | $1.8M | $-9.9M | ||
| Q2 24 | $976.6K | $-4.6M | ||
| Q1 24 | $1.7M | $-7.7M |
| Q4 25 | 36.0% | 38.6% | ||
| Q3 25 | 37.9% | 26.4% | ||
| Q2 25 | 38.4% | 33.1% | ||
| Q1 25 | 35.6% | 32.8% | ||
| Q4 24 | 38.3% | 28.7% | ||
| Q3 24 | 43.8% | 33.2% | ||
| Q2 24 | 38.2% | 35.7% | ||
| Q1 24 | 40.0% | 38.5% |
| Q4 25 | 4.0% | -10.9% | ||
| Q3 25 | 4.2% | -19.4% | ||
| Q2 25 | 4.0% | -30.5% | ||
| Q1 25 | -1.7% | -99.9% | ||
| Q4 24 | 5.2% | -36.6% | ||
| Q3 24 | 11.8% | -29.0% | ||
| Q2 24 | 7.4% | -14.3% | ||
| Q1 24 | 10.6% | -20.1% |
| Q4 25 | 1.0% | -8.9% | ||
| Q3 25 | -4.9% | -17.3% | ||
| Q2 25 | 0.6% | -28.3% | ||
| Q1 25 | 2.3% | -97.2% | ||
| Q4 24 | 2.6% | -32.3% | ||
| Q3 24 | 7.9% | -24.5% | ||
| Q2 24 | 4.7% | -9.5% | ||
| Q1 24 | 8.2% | -15.2% |
| Q4 25 | $0.03 | $-0.02 | ||
| Q3 25 | $-0.11 | $-0.03 | ||
| Q2 25 | $0.01 | $-0.06 | ||
| Q1 25 | $0.04 | $-0.21 | ||
| Q4 24 | $0.06 | $-0.06 | ||
| Q3 24 | $0.19 | $-0.05 | ||
| Q2 24 | $0.10 | $-0.02 | ||
| Q1 24 | $0.17 | $-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 | $6.4M | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $72.4M | $232.1M |
| Total Assets | $104.0M | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.4M | $104.5M | ||
| Q3 25 | $7.3M | $100.0M | ||
| Q2 25 | $6.8M | $105.0M | ||
| Q1 25 | $5.1M | $125.6M | ||
| Q4 24 | $5.6M | $142.5M | ||
| Q3 24 | $5.0M | $163.4M | ||
| Q2 24 | $5.8M | $187.4M | ||
| Q1 24 | $4.8M | $204.7M |
| Q4 25 | $72.4M | $232.1M | ||
| Q3 25 | $72.1M | $234.4M | ||
| Q2 25 | $72.4M | $238.8M | ||
| Q1 25 | $69.7M | $250.7M | ||
| Q4 24 | $70.2M | $289.4M | ||
| Q3 24 | $71.2M | $305.1M | ||
| Q2 24 | $68.9M | $329.4M | ||
| Q1 24 | $68.4M | $333.1M |
| Q4 25 | $104.0M | $320.9M | ||
| Q3 25 | $102.7M | $335.8M | ||
| Q2 25 | $99.3M | $354.0M | ||
| Q1 25 | $93.7M | $366.1M | ||
| Q4 24 | $94.0M | $420.2M | ||
| Q3 24 | $94.7M | $448.6M | ||
| Q2 24 | $89.3M | $475.3M | ||
| Q1 24 | $87.3M | $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 | $341.9K | $7.7M |
| Free Cash FlowOCF − Capex | $-479.7K | $7.7M |
| FCF MarginFCF / Revenue | -2.1% | 21.0% |
| Capex IntensityCapex / Revenue | 3.5% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.8M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $341.9K | $7.7M | ||
| Q3 25 | $-1.4M | $-2.1M | ||
| Q2 25 | $609.7K | $-14.9M | ||
| Q1 25 | $803.7K | $-12.2M | ||
| Q4 24 | $2.4M | $-12.0M | ||
| Q3 24 | — | $-3.7M | ||
| Q2 24 | $1.9M | $-13.9M | ||
| Q1 24 | — | $-3.3M |
| Q4 25 | $-479.7K | $7.7M | ||
| Q3 25 | $-1.4M | $-2.2M | ||
| Q2 25 | $-171.2K | $-16.2M | ||
| Q1 25 | $293.1K | $-14.3M | ||
| Q4 24 | $1.2M | $-13.3M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | $869.4K | $-14.1M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | -2.1% | 21.0% | ||
| Q3 25 | -6.3% | -6.1% | ||
| Q2 25 | -0.8% | -42.3% | ||
| Q1 25 | 1.5% | -34.7% | ||
| Q4 24 | 5.5% | -37.5% | ||
| Q3 24 | — | -9.7% | ||
| Q2 24 | 4.2% | -29.1% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | 3.5% | 0.0% | ||
| Q3 25 | 0.2% | 0.2% | ||
| Q2 25 | 3.6% | 3.3% | ||
| Q1 25 | 2.7% | 5.3% | ||
| Q4 24 | 5.7% | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | 5.2% | 0.5% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 1.44× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.01× | — | ||
| Q1 25 | 1.85× | — | ||
| Q4 24 | 4.27× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.99× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTIC
| Inside The USA To Unaffiliated Customers | $7.5M | 32% |
| Natur Tec | $6.0M | 26% |
| Acobal | $3.6M | 15% |
| Other | $2.7M | 12% |
| BR | $2.1M | 9% |
| Zerust OY | $1.4M | 6% |
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% |
