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Side-by-side financial comparison of SmartRent, Inc. (SMRT) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $33.9M, roughly 1.1× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs -8.9%, a 17.5% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -0.1%). Spok Holdings, Inc produced more free cash flow last quarter ($10.1M vs $7.7M). Over the past eight quarters, Spok Holdings, Inc's revenue compounded faster (-1.5% CAGR vs -15.0%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
SMRT vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $36.5M | $33.9M |
| Net Profit | $-3.2M | $2.9M |
| Gross Margin | 38.6% | 76.7% |
| Operating Margin | -10.9% | 11.6% |
| Net Margin | -8.9% | 8.7% |
| Revenue YoY | 3.1% | -0.1% |
| Net Profit YoY | 71.6% | -19.6% |
| EPS (diluted) | $-0.02 | $0.13 |
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 | $36.5M | $33.9M | ||
| Q3 25 | $36.2M | $33.9M | ||
| Q2 25 | $38.3M | $35.7M | ||
| Q1 25 | $41.3M | $36.3M | ||
| Q4 24 | $35.4M | $33.9M | ||
| Q3 24 | $40.5M | $34.9M | ||
| Q2 24 | $48.5M | $34.0M | ||
| Q1 24 | $50.5M | $34.9M |
| Q4 25 | $-3.2M | $2.9M | ||
| Q3 25 | $-6.3M | $3.2M | ||
| Q2 25 | $-10.9M | $4.6M | ||
| Q1 25 | $-40.2M | $5.2M | ||
| Q4 24 | $-11.4M | $3.6M | ||
| Q3 24 | $-9.9M | $3.7M | ||
| Q2 24 | $-4.6M | $3.4M | ||
| Q1 24 | $-7.7M | $4.2M |
| Q4 25 | 38.6% | 76.7% | ||
| Q3 25 | 26.4% | 78.3% | ||
| Q2 25 | 33.1% | 79.5% | ||
| Q1 25 | 32.8% | 80.1% | ||
| Q4 24 | 28.7% | 78.5% | ||
| Q3 24 | 33.2% | 79.5% | ||
| Q2 24 | 35.7% | 78.9% | ||
| Q1 24 | 38.5% | 79.5% |
| Q4 25 | -10.9% | 11.6% | ||
| Q3 25 | -19.4% | 12.9% | ||
| Q2 25 | -30.5% | 15.1% | ||
| Q1 25 | -99.9% | 16.6% | ||
| Q4 24 | -36.6% | 13.7% | ||
| Q3 24 | -29.0% | 14.2% | ||
| Q2 24 | -14.3% | 13.2% | ||
| Q1 24 | -20.1% | 14.0% |
| Q4 25 | -8.9% | 8.7% | ||
| Q3 25 | -17.3% | 9.5% | ||
| Q2 25 | -28.3% | 12.8% | ||
| Q1 25 | -97.2% | 14.3% | ||
| Q4 24 | -32.3% | 10.8% | ||
| Q3 24 | -24.5% | 10.5% | ||
| Q2 24 | -9.5% | 10.1% | ||
| Q1 24 | -15.2% | 12.1% |
| Q4 25 | $-0.02 | $0.13 | ||
| Q3 25 | $-0.03 | $0.15 | ||
| Q2 25 | $-0.06 | $0.22 | ||
| Q1 25 | $-0.21 | $0.25 | ||
| Q4 24 | $-0.06 | $0.17 | ||
| Q3 24 | $-0.05 | $0.18 | ||
| Q2 24 | $-0.02 | $0.17 | ||
| Q1 24 | $-0.04 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $104.5M | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $232.1M | $146.4M |
| Total Assets | $320.9M | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.5M | $25.3M | ||
| Q3 25 | $100.0M | $21.4M | ||
| Q2 25 | $105.0M | $20.2M | ||
| Q1 25 | $125.6M | $19.9M | ||
| Q4 24 | $142.5M | $29.1M | ||
| Q3 24 | $163.4M | $27.8M | ||
| Q2 24 | $187.4M | $23.9M | ||
| Q1 24 | $204.7M | $23.3M |
| Q4 25 | $232.1M | $146.4M | ||
| Q3 25 | $234.4M | $148.7M | ||
| Q2 25 | $238.8M | $150.9M | ||
| Q1 25 | $250.7M | $151.7M | ||
| Q4 24 | $289.4M | $154.7M | ||
| Q3 24 | $305.1M | $156.3M | ||
| Q2 24 | $329.4M | $158.2M | ||
| Q1 24 | $333.1M | $160.2M |
| Q4 25 | $320.9M | $206.1M | ||
| Q3 25 | $335.8M | $209.7M | ||
| Q2 25 | $354.0M | $208.7M | ||
| Q1 25 | $366.1M | $204.5M | ||
| Q4 24 | $420.2M | $217.1M | ||
| Q3 24 | $448.6M | $216.8M | ||
| Q2 24 | $475.3M | $216.4M | ||
| Q1 24 | $485.5M | $215.0M |
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 | $7.7M | $11.5M |
| Free Cash FlowOCF − Capex | $7.7M | $10.1M |
| FCF MarginFCF / Revenue | 21.0% | 29.9% |
| Capex IntensityCapex / Revenue | 0.0% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $-25.1M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.7M | $11.5M | ||
| Q3 25 | $-2.1M | $8.1M | ||
| Q2 25 | $-14.9M | $7.0M | ||
| Q1 25 | $-12.2M | $2.3M | ||
| Q4 24 | $-12.0M | $8.4M | ||
| Q3 24 | $-3.7M | $11.1M | ||
| Q2 24 | $-13.9M | $7.4M | ||
| Q1 24 | $-3.3M | $2.0M |
| Q4 25 | $7.7M | $10.1M | ||
| Q3 25 | $-2.2M | $7.6M | ||
| Q2 25 | $-16.2M | $6.0M | ||
| Q1 25 | $-14.3M | $1.5M | ||
| Q4 24 | $-13.3M | $7.5M | ||
| Q3 24 | $-3.9M | $10.3M | ||
| Q2 24 | $-14.1M | $6.8M | ||
| Q1 24 | $-3.4M | $1.1M |
| Q4 25 | 21.0% | 29.9% | ||
| Q3 25 | -6.1% | 22.4% | ||
| Q2 25 | -42.3% | 16.8% | ||
| Q1 25 | -34.7% | 4.2% | ||
| Q4 24 | -37.5% | 22.3% | ||
| Q3 24 | -9.7% | 29.4% | ||
| Q2 24 | -29.1% | 20.0% | ||
| Q1 24 | -6.7% | 3.2% |
| Q4 25 | 0.0% | 4.1% | ||
| Q3 25 | 0.2% | 1.6% | ||
| Q2 25 | 3.3% | 2.9% | ||
| Q1 25 | 5.3% | 2.1% | ||
| Q4 24 | 3.5% | 2.5% | ||
| Q3 24 | 0.6% | 2.4% | ||
| Q2 24 | 0.5% | 1.9% | ||
| Q1 24 | 0.1% | 2.5% |
| Q4 25 | — | 3.93× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | — | 2.17× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
