| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 36.20 | 5.5% | 10.6% |
| Total Income | 36.20 | 5.5% | 10.6% |
| Expenditure | 43.23 | 13.5% | 17.3% |
| PBT | -6.21 | 43.0% | 37.3% |
| Net Profit | -6.27 | 42.3% | 36.8% |
| OPM | -19.41% | 11.09pp | 9.56pp |
| NPM | -17.32% | 11.03pp | 7.18pp |
| EPS | -0.03 | 50.0% | 40.0% |
SmartRent Reports Q3 2025 Revenue of $36.2 Million
04 May 2026 · 4 May, 8:05 am
Summary
SmartRent reported a revenue of $36.2 million for Q3 2025, an 11% decrease year-over-year, primarily due to a strategic move away from bulk hardware sales. Annual Recurring Revenue increased by 7% to $56.9 million. The company's net loss improved by $3.6 million to $(6.3) million, and Adjusted EBITDA improved by $0.9 million to $(2.9) million, driven by cost reduction efforts. SmartRent is on track to achieve run rate cash flow neutrality exiting 2025 and maintains a strong liquidity position.
Key Highlights
- 1
SmartRent reported revenue of $36.2 million for the third quarter of 2025, an 11% decrease compared to the prior year.
- 2
Annual Recurring Revenue increased by 7% to $56.9 million, representing 39% of total revenue.
- 3
Net loss improved by $3.6 million to $(6.3) million, while Adjusted EBITDA improved by $0.9 million to $(2.9) million.
- 4
The company completed a $30 million cost reduction program during the third quarter.
- 5
Units Deployed reached 870,230, an 11% increase compared to September 30, 2024.
- 6
New Units Deployed increased by 49% to 22,644 compared to the prior year quarter.
- 7
The company maintains a strong liquidity position with $100 million in cash and a $75 million undrawn credit facility.
Management Comments
Frank Martell
"The third quarter was a period of substantial progress for SmartRent on many fronts. We continued to grow our Annual Recurring Revenue and significantly narrowed our operating loss in line with the commitments made on the previous earnings call. Importantly, we continued to expand our deployed base which now includes more than 870,000 units, up 11% from the prior year." "As we look forward to the balance of this year and into 2026, we expect to continue to significantly expand our installed base as we capitalize on the investments we are making in our sales organization, as well as expanding platform capabilities and leveraging AI to deliver even greater ROI to property owners and operators."
Daryl Stemm
"During the third quarter, we completed the actions necessary to reset our cost structure and deliver at least $30 million of annualized expense reductions. We believe this will result in Adjusted EBITDA and cash flow neutrality on a run rate basis exiting 2025. We exited the third quarter with $100 million in cash, no debt and a $75 million undrawn credit facility. We expect to end the year with a strong liquidity position and the resulting flexibility to drive profitable growth and build long-term operating leverage."
Informational and educational content only. Not investment advice.