Smartrent Inc Financials
This page shows Smartrent Inc (SMRT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Smartrent Inc has an operating margin of -23.9%, meaning the company retains $-24 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -18.2% the prior year.
Smartrent Inc's revenue declined 26.2% year-over-year, from $236.8M to $174.9M. This contraction results in a growth score of 0/100.
Smartrent Inc carries a low D/E ratio of 0.45, meaning only $0.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.63, Smartrent Inc holds $3.63 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Smartrent Inc generated -$32.9M in operating cash flow, capex of $1.8M consumed most of it, leaving -$34.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Smartrent Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Smartrent Inc generates $0.98 in operating cash flow (-$32.9M OCF vs -$33.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Smartrent Inc earns $-5.1 in operating income for every $1 of interest expense (-$41.8M vs $8.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Smartrent Inc generated $174.9M in revenue in fiscal year 2024. This represents a decrease of 26.2% from the prior year.
Smartrent Inc's EBITDA was -$35.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.2% from the prior year.
Smartrent Inc generated -$34.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 694.4% from the prior year.
Smartrent Inc reported -$33.6M in net income in fiscal year 2024. This represents an increase of 2.7% from the prior year.
Smartrent Inc earned $-0.17 per diluted share (EPS) in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Smartrent Inc held $142.5M in cash against $0 in long-term debt as of fiscal year 2024.
Smartrent Inc had 192M shares outstanding in fiscal year 2024. This represents a decrease of 5.5% from the prior year.
Smartrent Inc's gross margin was 34.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 13.6 percentage points from the prior year.
Smartrent Inc's operating margin was -23.9% in fiscal year 2024, reflecting core business profitability. This is down 5.7 percentage points from the prior year.
Smartrent Inc's net profit margin was -19.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 4.6 percentage points from the prior year.
Smartrent Inc invested $29.4M in research and development in fiscal year 2024. This represents an increase of 2.0% from the prior year.
Smartrent Inc spent $28.6M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Smartrent Inc invested $1.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1102.0% from the prior year.
SMRT Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $36.2M-5.5% | $38.3M-7.3% | $41.3M+16.9% | $35.4M-27.1% | $48.5M-3.9% | $50.5M-16.2% | $60.3M+3.7% | $58.1M |
| Cost of Revenue | $26.6M+3.9% | $25.6M-7.7% | $27.8M+10.2% | $25.2M-19.2% | $31.2M+0.5% | $31.1M-28.2% | $43.3M-3.0% | $44.6M |
| Gross Profit | $9.6M-24.5% | $12.7M-6.6% | $13.6M+33.6% | $10.2M-41.3% | $17.3M-10.9% | $19.4M+14.3% | $17.0M+25.6% | $13.5M |
| R&D Expenses | $6.1M-4.9% | $6.5M-21.7% | $8.3M+19.2% | $6.9M-7.4% | $7.5M-10.5% | $8.4M+12.0% | $7.5M-1.4% | $7.6M |
| SG&A Expenses | $6.1M-47.1% | $11.5M-31.9% | $16.9M+47.5% | $11.5M-4.7% | $12.0M-27.9% | $16.7M+54.6% | $10.8M-4.3% | $11.3M |
| Operating Income | -$7.0M+39.9% | -$11.7M+71.7% | -$41.3M-218.6% | -$13.0M-87.3% | -$6.9M+31.9% | -$10.2M-74.2% | -$5.8M+41.4% | -$9.9M |
| Interest Expense | $891K-12.0% | $1.0M-15.7% | $1.2M-21.3% | $1.5M-33.4% | $2.3M-4.9% | $2.4M-4.3% | $2.5M+12.7% | $2.2M |
| Income Tax | $56K+269.7% | -$33K-130.6% | $108K-20.6% | $136K+100.0% | $68K+51.1% | $45K+152.3% | -$86K-160.6% | -$33K |
| Net Income | -$6.3M+42.3% | -$10.9M+73.0% | -$40.2M-251.8% | -$11.4M-148.1% | -$4.6M+40.1% | -$7.7M-133.1% | -$3.3M+57.3% | -$7.7M |
| EPS (Diluted) | $-0.03+50.0% | $-0.06+71.4% | $-0.21-250.0% | $-0.06-200.0% | $-0.02+50.0% | $-0.04-300.0% | $-0.01+75.0% | $-0.04 |
SMRT Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $335.8M-5.1% | $354.0M-3.3% | $366.1M-12.9% | $420.2M-11.6% | $475.3M-2.1% | $485.5M-4.8% | $509.8M-1.1% | $515.6M |
| Current Assets | $201.5M-7.4% | $217.5M-4.5% | $227.9M-11.6% | $257.6M-17.9% | $313.8M-1.8% | $319.5M-6.1% | $340.3M-1.1% | $344.1M |
| Cash & Equivalents | $100.0M-4.8% | $105.0M-16.4% | $125.6M-11.8% | $142.5M-24.0% | $187.4M-8.4% | $204.7M-4.9% | $215.2M+2.0% | $211.0M |
| Inventory | $28.1M-15.8% | $33.4M+0.5% | $33.2M-5.9% | $35.3M+2.4% | $34.4M+11.4% | $30.9M-25.7% | $41.6M-12.5% | $47.5M |
| Accounts Receivable | $52.2M-10.9% | $58.6M+17.5% | $49.9M-15.9% | $59.3M-9.1% | $65.2M+12.3% | $58.1M-6.2% | $61.9M-2.6% | $63.5M |
| Goodwill | $92.3M0.0% | $92.3M0.0% | $92.3M-21.3% | $117.3M0.0% | $117.3M0.0% | $117.3M0.0% | $117.3M0.0% | $117.3M |
| Total Liabilities | $101.4M-11.9% | $115.1M-0.2% | $115.4M-11.7% | $130.7M-10.4% | $146.0M-4.2% | $152.4M-8.9% | $167.3M-2.9% | $172.3M |
| Current Liabilities | $72.6M-9.3% | $80.1M+5.5% | $75.9M+6.8% | $71.0M-29.2% | $100.3M-6.2% | $107.0M-8.8% | $117.3M-5.1% | $123.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $234.4M-1.9% | $238.8M-4.7% | $250.7M-13.4% | $289.4M-12.1% | $329.4M-1.1% | $333.1M-2.7% | $342.4M-0.2% | $343.3M |
| Retained Earnings | -$410.1M-1.5% | -$403.8M-3.7% | -$389.2M-11.9% | -$347.8M-14.3% | -$304.2M-2.2% | -$297.6M-4.2% | -$285.5M-1.2% | -$282.2M |
SMRT Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.1M+85.7% | -$14.9M-22.7% | -$12.2M-1.3% | -$12.0M+13.4% | -$13.9M-315.9% | -$3.3M-145.4% | $7.3M-48.7% | $14.3M |
| Capital Expenditures | $90K-93.0% | $1.3M-41.2% | $2.2M+75.4% | $1.2M+415.8% | $241K+608.8% | $34K+9.7% | $31K-53.7% | $67K |
| Free Cash Flow | -$2.2M+86.3% | -$16.2M-13.0% | -$14.3M-8.2% | -$13.3M+6.1% | -$14.1M-318.8% | -$3.4M-146.1% | $7.3M-48.7% | $14.3M |
| Investing Cash Flow | -$1.1M+54.2% | -$2.4M+31.4% | -$3.5M-34.8% | -$2.6M-147.3% | -$1.0M-8.9% | -$956K+64.7% | -$2.7M-175.1% | -$985K |
| Financing Cash Flow | -$1.7M+54.0% | -$3.8M-149.9% | -$1.5M+77.6% | -$6.7M-182.2% | -$2.4M+63.2% | -$6.5M-1495.6% | -$405K-152.1% | $778K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $3.7M+209.2% | $1.2M-76.4% | $5.1M+154.2% | $2.0M-54.1% | $4.4M | N/A | N/A |
SMRT Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.4%-6.6pp | 33.1%+0.3pp | 32.8%+4.1pp | 28.7%-7.0pp | 35.7%-2.8pp | 38.5%+10.3pp | 28.2%+4.9pp | 23.3% |
| Operating Margin | -19.4%+11.1pp | -30.5%+69.4pp | -99.9%-63.2pp | -36.6%-22.4pp | -14.3%+5.9pp | -20.1%-10.4pp | -9.7%+7.4pp | -17.1% |
| Net Margin | -17.3%+11.0pp | -28.3%+68.8pp | -97.2%-64.9pp | -32.3%-22.8pp | -9.5%+5.8pp | -15.2%-9.8pp | -5.5%+7.8pp | -13.3% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -1.9%+1.2pp | -3.1%+7.9pp | -11.0%-8.3pp | -2.7%-1.7pp | -1.0%+0.6pp | -1.6%-0.9pp | -0.7%+0.9pp | -1.5% |
| Current Ratio | 2.77+0.1 | 2.72-0.3 | 3.00-0.6 | 3.63+0.5 | 3.13+0.1 | 2.99+0.1 | 2.90+0.1 | 2.78 |
| Debt-to-Equity | 0.43-0.0 | 0.48+0.0 | 0.460.0 | 0.450.0 | 0.44-0.0 | 0.46-0.0 | 0.49-0.0 | 0.50 |
| FCF Margin | -6.1%+36.2pp | -42.3%-7.6pp | -34.7%+2.8pp | -37.5%-8.4pp | -29.1%-22.4pp | -6.7%-18.8pp | 12.1%-12.4pp | 24.5% |
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Frequently Asked Questions
What is Smartrent Inc's annual revenue?
Smartrent Inc (SMRT) reported $174.9M in total revenue for fiscal year 2024. This represents a -26.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Smartrent Inc's revenue growing?
Smartrent Inc (SMRT) revenue declined by 26.2% year-over-year, from $236.8M to $174.9M in fiscal year 2024.
Is Smartrent Inc profitable?
No, Smartrent Inc (SMRT) reported a net income of -$33.6M in fiscal year 2024, with a net profit margin of -19.2%.
What is Smartrent Inc's earnings per share (EPS)?
Smartrent Inc (SMRT) reported diluted earnings per share of $-0.17 for fiscal year 2024. This represents a 0.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Smartrent Inc's EBITDA?
Smartrent Inc (SMRT) had EBITDA of -$35.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Smartrent Inc's gross margin?
Smartrent Inc (SMRT) had a gross margin of 34.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Smartrent Inc's operating margin?
Smartrent Inc (SMRT) had an operating margin of -23.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Smartrent Inc's net profit margin?
Smartrent Inc (SMRT) had a net profit margin of -19.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Smartrent Inc's free cash flow?
Smartrent Inc (SMRT) generated -$34.7M in free cash flow during fiscal year 2024. This represents a -694.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Smartrent Inc's operating cash flow?
Smartrent Inc (SMRT) generated -$32.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Smartrent Inc's total assets?
Smartrent Inc (SMRT) had $420.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Smartrent Inc's capital expenditures?
Smartrent Inc (SMRT) invested $1.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Smartrent Inc spend on research and development?
Smartrent Inc (SMRT) invested $29.4M in research and development during fiscal year 2024.
Does Smartrent Inc buy back shares?
Yes, Smartrent Inc (SMRT) spent $28.6M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Smartrent Inc have outstanding?
Smartrent Inc (SMRT) had 192M shares outstanding as of fiscal year 2024.
What is Smartrent Inc's current ratio?
Smartrent Inc (SMRT) had a current ratio of 3.63 as of fiscal year 2024, which is generally considered healthy.
What is Smartrent Inc's debt-to-equity ratio?
Smartrent Inc (SMRT) had a debt-to-equity ratio of 0.45 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Smartrent Inc's return on assets (ROA)?
Smartrent Inc (SMRT) had a return on assets of -8.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Smartrent Inc's cash runway?
Based on fiscal year 2024 data, Smartrent Inc (SMRT) had $142.5M in cash against an annual operating cash burn of $32.9M. This gives an estimated cash runway of approximately 52 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Smartrent Inc's Piotroski F-Score?
Smartrent Inc (SMRT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Smartrent Inc's earnings high quality?
Smartrent Inc (SMRT) has an earnings quality ratio of 0.98x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Smartrent Inc cover its interest payments?
Smartrent Inc (SMRT) has an interest coverage ratio of -5.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Smartrent Inc?
Smartrent Inc (SMRT) scores 39 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.