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Side-by-side financial comparison of SmartRent, Inc. (SMRT) and Zeo Energy Corp. (ZEO). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $18.6M, roughly 2.0× Zeo Energy Corp.). SmartRent, Inc. runs the higher net margin — -8.9% vs -10.8%, a 1.9% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -0.4%). SmartRent, Inc. produced more free cash flow last quarter ($7.7M vs $2.3M). Over the past eight quarters, Zeo Energy Corp.'s revenue compounded faster (-4.0% 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.
SMRT vs ZEO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $36.5M | $18.6M |
| Net Profit | $-3.2M | $-2.0M |
| Gross Margin | 38.6% | — |
| Operating Margin | -10.9% | -11.8% |
| Net Margin | -8.9% | -10.8% |
| Revenue YoY | 3.1% | -0.4% |
| Net Profit YoY | 71.6% | -360.9% |
| EPS (diluted) | $-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 | $36.5M | $18.6M | ||
| Q3 25 | $36.2M | $23.9M | ||
| Q2 25 | $38.3M | $18.1M | ||
| Q1 25 | $41.3M | $8.8M | ||
| Q4 24 | $35.4M | $18.6M | ||
| Q3 24 | $40.5M | $19.7M | ||
| Q2 24 | $48.5M | $14.8M | ||
| Q1 24 | $50.5M | $20.1M |
| Q4 25 | $-3.2M | $-2.0M | ||
| Q3 25 | $-6.3M | $-3.2M | ||
| Q2 25 | $-10.9M | $-2.4M | ||
| Q1 25 | $-40.2M | $-6.4M | ||
| Q4 24 | $-11.4M | $-435.3K | ||
| Q3 24 | $-9.9M | $-424.3K | ||
| Q2 24 | $-4.6M | $-277.8K | ||
| Q1 24 | $-7.7M | $-1.5M |
| Q4 25 | 38.6% | — | ||
| Q3 25 | 26.4% | 57.9% | ||
| Q2 25 | 33.1% | 59.8% | ||
| Q1 25 | 32.8% | 99.3% | ||
| Q4 24 | 28.7% | — | ||
| Q3 24 | 33.2% | 50.2% | ||
| Q2 24 | 35.7% | 52.3% | ||
| Q1 24 | 38.5% | — |
| Q4 25 | -10.9% | -11.8% | ||
| Q3 25 | -19.4% | -8.3% | ||
| Q2 25 | -30.5% | -15.8% | ||
| Q1 25 | -99.9% | -153.8% | ||
| Q4 24 | -36.6% | -6.0% | ||
| Q3 24 | -29.0% | -15.2% | ||
| Q2 24 | -14.3% | -18.0% | ||
| Q1 24 | -20.1% | -20.1% |
| Q4 25 | -8.9% | -10.8% | ||
| Q3 25 | -17.3% | -13.5% | ||
| Q2 25 | -28.3% | -13.3% | ||
| Q1 25 | -97.2% | -72.4% | ||
| Q4 24 | -32.3% | -2.3% | ||
| Q3 24 | -24.5% | -2.2% | ||
| Q2 24 | -9.5% | -1.9% | ||
| Q1 24 | -15.2% | -7.6% |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.06 | — | ||
| Q1 25 | $-0.21 | $-0.48 | ||
| Q4 24 | $-0.06 | $1.11 | ||
| Q3 24 | $-0.05 | $-0.08 | ||
| Q2 24 | $-0.02 | $0.03 | ||
| Q1 24 | $-0.04 | $-1.54 |
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 | $6.1M |
| Total DebtLower is stronger | — | $79.1K |
| Stockholders' EquityBook value | $232.1M | $5.3M |
| Total Assets | $320.9M | $56.9M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.5M | $6.1M | ||
| Q3 25 | $100.0M | $3.9M | ||
| Q2 25 | $105.0M | $68.7K | ||
| Q1 25 | $125.6M | $2.9M | ||
| Q4 24 | $142.5M | $5.6M | ||
| Q3 24 | $163.4M | $4.3M | ||
| Q2 24 | $187.4M | $5.3M | ||
| Q1 24 | $204.7M | — |
| Q4 25 | — | $79.1K | ||
| Q3 25 | — | $84.6K | ||
| Q2 25 | — | $642.8K | ||
| Q1 25 | — | $715.4K | ||
| Q4 24 | — | $787.7K | ||
| Q3 24 | — | $858.6K | ||
| Q2 24 | — | $1.6M | ||
| Q1 24 | — | $748.8K |
| Q4 25 | $232.1M | $5.3M | ||
| Q3 25 | $234.4M | $-1.7M | ||
| Q2 25 | $238.8M | $-59.4M | ||
| Q1 25 | $250.7M | $-23.1M | ||
| Q4 24 | $289.4M | $-88.9M | ||
| Q3 24 | $305.1M | $-39.3M | ||
| Q2 24 | $329.4M | $-53.0M | ||
| Q1 24 | $333.1M | $-173.0M |
| Q4 25 | $320.9M | $56.9M | ||
| Q3 25 | $335.8M | $58.5M | ||
| Q2 25 | $354.0M | $46.2M | ||
| Q1 25 | $366.1M | $47.4M | ||
| Q4 24 | $420.2M | $61.0M | ||
| Q3 24 | $448.6M | $47.1M | ||
| Q2 24 | $475.3M | $49.1M | ||
| Q1 24 | $485.5M | $50.1M |
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $2.4M |
| Free Cash FlowOCF − Capex | $7.7M | $2.3M |
| FCF MarginFCF / Revenue | 21.0% | 12.2% |
| Capex IntensityCapex / Revenue | 0.0% | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-25.1M | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.7M | $2.4M | ||
| Q3 25 | $-2.1M | $-6.6M | ||
| Q2 25 | $-14.9M | $-2.3M | ||
| Q1 25 | $-12.2M | $-2.3M | ||
| Q4 24 | $-12.0M | $3.5M | ||
| Q3 24 | $-3.7M | $162.2K | ||
| Q2 24 | $-13.9M | $-2.2M | ||
| Q1 24 | $-3.3M | $-10.2M |
| Q4 25 | $7.7M | $2.3M | ||
| Q3 25 | $-2.2M | $-6.8M | ||
| Q2 25 | $-16.2M | $-2.7M | ||
| Q1 25 | $-14.3M | $-2.6M | ||
| Q4 24 | $-13.3M | $3.4M | ||
| Q3 24 | $-3.9M | $116.5K | ||
| Q2 24 | $-14.1M | $-2.3M | ||
| Q1 24 | $-3.4M | $-10.4M |
| Q4 25 | 21.0% | 12.2% | ||
| Q3 25 | -6.1% | -28.6% | ||
| Q2 25 | -42.3% | -15.0% | ||
| Q1 25 | -34.7% | -30.0% | ||
| Q4 24 | -37.5% | 18.2% | ||
| Q3 24 | -9.7% | 0.6% | ||
| Q2 24 | -29.1% | -15.6% | ||
| Q1 24 | -6.7% | -51.5% |
| Q4 25 | 0.0% | 0.9% | ||
| Q3 25 | 0.2% | 1.0% | ||
| Q2 25 | 3.3% | 2.4% | ||
| Q1 25 | 5.3% | 4.2% | ||
| Q4 24 | 3.5% | 0.5% | ||
| Q3 24 | 0.6% | 0.2% | ||
| Q2 24 | 0.5% | 0.7% | ||
| Q1 24 | 0.1% | 1.1% |
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% |
ZEO
| Nonrelated Party | $18.1M | 98% |
| Related Party | $432.1K | 2% |
