Quarterly ResultMay 6, 2026, 08:17 AM
SmartRent Q1 Net Loss Narrows to $4.45M; Revenue $38.68M
AI Summary
SmartRent, Inc. reported a significant reduction in its net loss for the first quarter of 2026, narrowing to $4.45 million from $40.18 million in the prior year. Total revenue for the quarter decreased slightly to $38.68 million from $41.34 million. The company also saw a substantial improvement in net cash used in operating activities, which decreased to $4.54 million from $12.17 million year-over-year, partly due to the absence of a goodwill impairment charge present in the prior year.
Key Highlights
- Net loss significantly narrowed to $4.45 million in Q1 2026 from $40.18 million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.02) from $(0.21) year-over-year.
- Total revenue decreased to $38.68 million in Q1 2026 from $41.34 million in Q1 2025.
- Hardware revenue was $15.38 million and Hosted services revenue was $17.27 million.
- Professional services revenue increased to $6.03 million in Q1 2026 from $3.89 million.
- Net cash used in operating activities improved to $4.54 million from $12.17 million.
- No goodwill impairment charge was recorded in Q1 2026, compared to $24.93 million in Q1 2025.
- Cash and cash equivalents stood at $98.82 million as of March 31, 2026.
Price Impact
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