Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data SmartRent, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
52.5
111
168
237
175
152
Cost of revenue
56.8
121
166
187
115
102
Gross profit
-4.3
-10.1
1.35
49.5
60.3
49.9
Research and development
9.41
21.6
29.4
28.8
29.4
26.2
Selling and marketing
5.43
14
20.9
19.2
18.4
19.5
General and administrative
16.6
26
55.3
44.7
54.3
43.2
Operating expenses
31.4
61.6
106
92.7
102
88.9
Operating income
-35.7
-71.7
-104
-43.2
-41.8
-64
Other non-operating income
-0.69
0.06
0.6
-0.12
0.15
-0.46
Pre-tax income
-37
-71.8
-102
-34.7
-33.4
-60.5
Income tax
0.15
0.12
-5.39
-0.11
0.27
0.04
Net income
-37.1
-72
-96.3
-34.6
-33.6
-60.6
EBITDA
-35.4
-71.2
-100
-37.6
-35.3
-55.5
EPS, basic
-4.32
-0.96
-0.49
-0.17
-0.17
-0.32
EPS, diluted
-4.32
-0.96
-0.49
-0.17
-0.17
-0.32
Shares, basic (weighted)
0.01
74.7
196
201
199
190
Shares, diluted (weighted)
0.01
74.7
196
201
199
190
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
38.6
431
210
215
142
105
Receivables
20.8
45.5
62.4
61.9
59.3
47.4
Inventory
17.6
33.2
75.7
41.6
35.3
26.7
Other current assets
0.56
2.29
4.14
2.22
4.01
0.33
Total current assets
87.7
536
378
340
258
188
Property, plant and equipment
0.85
1.87
2.07
1.4
2.45
5.12
Lease right-of-use assets
0.92
2.93
3.97
2.55
3.81
2.81
Goodwill
4.16
12.7
117
117
117
92.3
Intangible assets
3.59
31.1
27.2
23.4
19.5
Other non-current assets
1.11
7.21
9.52
12.2
16.4
16
Total assets
104
580
561
510
420
321
Accounts payable
2.28
6.15
18.4
15.1
8.72
13
Accrued liabilities
0.76
4.56
8.57
6.67
13.1
3.38
Deferred revenue
19.3
42.2
80
77.3
35.1
33
Short-term debt
1.65
Total current liabilities
32.8
70.6
133
117
71
60
Lease liabilities
2.11
2.8
1.31
7.02
5.79
Other non-current liabilities
0.52
6.2
3.94
4.1
7.12
5.8
Total liabilities
70.7
130
197
167
131
88.8
Paid-in capital
4.16
604
615
628
637
645
Retained earnings
-82.6
-155
-251
-286
-348
-413
Other comprehensive income
0.24
0.01
-0.18
-0.22
-0.1
0.36
Shareholders' equity
-78.3
450
364
342
289
232
Total equity
-78.3
450
364
342
289
232
Total liabilities and equity
104
580
561
510
420
321
Shares outstanding
0.01
194
199
203
192
190
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-37.1
-72
-96.3
-34.6
-33.6
-60.6
Depreciation and amortization
0.3
0.46
4.26
5.53
6.5
8.43
Stock-based compensation
1.05
7.32
12.9
13.2
12.1
8.78
Deferred income tax
0.02
-0.02
-5.72
-0.17
0.04
-0.07
Change in receivables
-13.5
-24
-15.9
-0.18
1.1
12.9
Change in inventory
-11.1
-15.8
-42.8
31.7
-1.28
4.5
Change in payables
-0.07
3.81
12.4
-3.48
-6.4
4.19
Cash from operations
-28.5
-70.4
-77.8
5.98
-32.9
-21.6
Capital expenditures
-0.3
-1.47
-1.11
-0.15
-1.77
-3.55
Acquisitions
-130
Cash from investing
-2.68
-9.37
-134
-6.02
-7.6
-8.63
Debt repaid
-0.14
-4.86
Stock issued
0.19
0.91
Share buybacks
-28.6
-4.89
Cash from financing
48.2
474
-2.8
-1.91
-33
-7.44
Exchange rate effect
0.14
-0.19
Net change in cash
17.2
394
-215
-2
-73.2
-37.9
Free cash flow
-28.8
-71.8
-78.9
5.83
-34.7
-25.1
Interest paid
0.46
0.25
0.15
0.1
0.26
0.2
Income taxes paid
0.08
0.01
0.2
0.08
0.24
167
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.19 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
36.4%
Gross profit / revenue.
Operating margin
-14.9%
Operating income / revenue.
EBITDA margin
-9.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-13.1%
Pre-tax income / revenue.
Net margin
-13.0%
Net income / revenue.
FCF margin
-0.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-0.5%
Cash from operations / revenue.
Return on equity (ROE)
-8.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-6.7%
Net income / average total assets.
Return on invested capital (ROIC)
-13.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
15.4%
Research and development expense / revenue.
Stock-based pay / revenue
6.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
5.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-12.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-3.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
23.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-17.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
233.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-19.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-13.9%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-23.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-17.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
25.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
-4.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
-1.0%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
639.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
3.80x
Current assets / current liabilities.
Quick ratio
3.06x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.17x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.10
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.79
Revenue / diluted weighted shares.
FCF per share
-$0.01
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.00
Cash from operations / diluted weighted shares.
Book value per share
$1.17
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
1.51x
Market cap / revenue.
P/B
1.01x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.98x
Market cap / tangible book value, when positive.
EV/Sales
0.90x
Enterprise value / revenue.
FCF yield
-0.5%
Free cash flow / market cap.
Earnings yield
-8.6%
Net income / market cap (the inverse of P/E).
What was SmartRent, Inc.'s revenue in fiscal 2025?
SmartRent, Inc. reported revenue of $152.3M for fiscal 2025, 12.9% lower than the year before.
Was SmartRent, Inc. profitable in fiscal 2025?
No. It reported a net loss of $60.6M.
How much free cash flow did SmartRent, Inc. generate in fiscal 2025?
Cash from operations of $21.6M minus capital expenditures of $3.6M left free cash flow of -$25.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.