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Side-by-side financial comparison of SmartRent, Inc. (SMRT) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $28.1M, roughly 1.3× ARS Pharmaceuticals, Inc.). SmartRent, Inc. runs the higher net margin — -8.9% vs -147.1%, a 138.2% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -67.6%).
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.
ARS Pharmaceuticals, Inc. is a late-stage biopharmaceutical firm specializing in the development and commercialization of novel therapies for severe allergic reactions, most notably needle-free epinephrine delivery solutions for anaphylaxis. It primarily operates in the North American market, catering to both pediatric and adult patient groups at risk of life-threatening allergic responses.
SMRT vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $36.5M | $28.1M |
| Net Profit | $-3.2M | $-41.3M |
| Gross Margin | 38.6% | — |
| Operating Margin | -10.9% | -147.6% |
| Net Margin | -8.9% | -147.1% |
| Revenue YoY | 3.1% | -67.6% |
| Net Profit YoY | 71.6% | -182.8% |
| EPS (diluted) | $-0.02 | $-0.41 |
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 | $28.1M | ||
| Q3 25 | $36.2M | $32.5M | ||
| Q2 25 | $38.3M | $15.7M | ||
| Q1 25 | $41.3M | $8.0M | ||
| Q4 24 | $35.4M | $86.6M | ||
| Q3 24 | $40.5M | $2.1M | ||
| Q2 24 | $48.5M | $500.0K | ||
| Q1 24 | $50.5M | $0 |
| Q4 25 | $-3.2M | $-41.3M | ||
| Q3 25 | $-6.3M | $-51.2M | ||
| Q2 25 | $-10.9M | $-44.9M | ||
| Q1 25 | $-40.2M | $-33.9M | ||
| Q4 24 | $-11.4M | $49.9M | ||
| Q3 24 | $-9.9M | $-19.1M | ||
| Q2 24 | $-4.6M | $-12.5M | ||
| Q1 24 | $-7.7M | $-10.3M |
| Q4 25 | 38.6% | — | ||
| Q3 25 | 26.4% | — | ||
| Q2 25 | 33.1% | — | ||
| Q1 25 | 32.8% | — | ||
| Q4 24 | 28.7% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 35.7% | — | ||
| Q1 24 | 38.5% | — |
| Q4 25 | -10.9% | -147.6% | ||
| Q3 25 | -19.4% | -163.7% | ||
| Q2 25 | -30.5% | -302.9% | ||
| Q1 25 | -99.9% | -466.3% | ||
| Q4 24 | -36.6% | 54.5% | ||
| Q3 24 | -29.0% | -1051.6% | ||
| Q2 24 | -14.3% | -3068.0% | ||
| Q1 24 | -20.1% | — |
| Q4 25 | -8.9% | -147.1% | ||
| Q3 25 | -17.3% | -157.4% | ||
| Q2 25 | -28.3% | -285.6% | ||
| Q1 25 | -97.2% | -425.7% | ||
| Q4 24 | -32.3% | 57.7% | ||
| Q3 24 | -24.5% | -925.0% | ||
| Q2 24 | -9.5% | -2503.2% | ||
| Q1 24 | -15.2% | — |
| Q4 25 | $-0.02 | $-0.41 | ||
| Q3 25 | $-0.03 | $-0.52 | ||
| Q2 25 | $-0.06 | $-0.46 | ||
| Q1 25 | $-0.21 | $-0.35 | ||
| Q4 24 | $-0.06 | $0.52 | ||
| Q3 24 | $-0.05 | $-0.20 | ||
| Q2 24 | $-0.02 | $-0.13 | ||
| Q1 24 | $-0.04 | $-0.11 |
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 | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $232.1M | $114.3M |
| Total Assets | $320.9M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.5M | $245.0M | ||
| Q3 25 | $100.0M | $288.2M | ||
| Q2 25 | $105.0M | $240.1M | ||
| Q1 25 | $125.6M | $275.7M | ||
| Q4 24 | $142.5M | $314.0M | ||
| Q3 24 | $163.4M | $204.6M | ||
| Q2 24 | $187.4M | $218.7M | ||
| Q1 24 | $204.7M | $223.6M |
| Q4 25 | — | $96.4M | ||
| Q3 25 | — | $96.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $232.1M | $114.3M | ||
| Q3 25 | $234.4M | $147.7M | ||
| Q2 25 | $238.8M | $192.3M | ||
| Q1 25 | $250.7M | $229.0M | ||
| Q4 24 | $289.4M | $256.8M | ||
| Q3 24 | $305.1M | $201.0M | ||
| Q2 24 | $329.4M | $215.2M | ||
| Q1 24 | $333.1M | $223.9M |
| Q4 25 | $320.9M | $327.7M | ||
| Q3 25 | $335.8M | $372.8M | ||
| Q2 25 | $354.0M | $313.5M | ||
| Q1 25 | $366.1M | $327.3M | ||
| Q4 24 | $420.2M | $351.2M | ||
| Q3 24 | $448.6M | $217.6M | ||
| Q2 24 | $475.3M | $222.0M | ||
| Q1 24 | $485.5M | $227.6M |
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-43.5M |
| Free Cash FlowOCF − Capex | $7.7M | — |
| FCF MarginFCF / Revenue | 21.0% | — |
| Capex IntensityCapex / Revenue | 0.0% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-25.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.7M | $-43.5M | ||
| Q3 25 | $-2.1M | $-47.0M | ||
| Q2 25 | $-14.9M | $-39.6M | ||
| Q1 25 | $-12.2M | $-40.7M | ||
| Q4 24 | $-12.0M | $42.0M | ||
| Q3 24 | $-3.7M | $-14.5M | ||
| Q2 24 | $-13.9M | $-7.3M | ||
| Q1 24 | $-3.3M | $-6.7M |
| Q4 25 | $7.7M | — | ||
| Q3 25 | $-2.2M | $-47.2M | ||
| Q2 25 | $-16.2M | $-39.6M | ||
| Q1 25 | $-14.3M | $-40.8M | ||
| Q4 24 | $-13.3M | $41.7M | ||
| Q3 24 | $-3.9M | $-14.6M | ||
| Q2 24 | $-14.1M | $-7.3M | ||
| Q1 24 | $-3.4M | $-6.8M |
| Q4 25 | 21.0% | — | ||
| Q3 25 | -6.1% | -145.4% | ||
| Q2 25 | -42.3% | -252.2% | ||
| Q1 25 | -34.7% | -512.1% | ||
| Q4 24 | -37.5% | 48.2% | ||
| Q3 24 | -9.7% | -706.3% | ||
| Q2 24 | -29.1% | -1463.4% | ||
| Q1 24 | -6.7% | — |
| Q4 25 | 0.0% | 0.0% | ||
| Q3 25 | 0.2% | 0.6% | ||
| Q2 25 | 3.3% | 0.3% | ||
| Q1 25 | 5.3% | 1.1% | ||
| Q4 24 | 3.5% | 0.3% | ||
| Q3 24 | 0.6% | 6.8% | ||
| Q2 24 | 0.5% | 7.6% | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
