SmartRent, Inc.

For the period ended Mar 31, 2026. Filed May 6, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 6, 2026

SMRT$1.66+4.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

PART I - Financial Information

	As of
	March 31, 2026	December 31, 2025
ASSETS
Current assets
Cash and cash equivalents	$98,821	$104,550
Accounts receivable, net	36,753	47,401
Inventory	24,397	26,670
Deferred cost of revenue, current portion	1,861	3,068
Prepaid expenses and other current assets	6,742	6,189
Total current assets	168,574	187,878
Property and equipment, net	4,861	5,121
Deferred cost of revenue	46	121
Goodwill	92,339	92,339
Intangible assets, net	18,533	19,501
Other long-term assets	15,883	15,965
Total assets	$300,236	$320,925
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable	$8,550	$13,012
Accrued expenses and other current liabilities	9,249	14,040
Deferred revenue, current portion	24,920	32,966
Total current liabilities	42,719	60,018
Deferred revenue	21,368	22,968
Other long-term liabilities	5,475	5,800
Total liabilities	69,562	88,786
Commitments and contingencies (Note 11)
Convertible preferred stock, $0.0001 par value; 50,000 shares authorized as of March 31, 2026 and December 31, 2025; no shares of preferred stock issued and outstanding as of March 31, 2026 and December 31, 2025	-	-
Stockholders' equity
Class A common stock, $0.0001 par value; 500,000 shares authorized as of March 31, 2026 and December 31, 2025, respectively; 192,721 and 189,677 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	19	19
Additional paid-in capital	648,501	645,051
Accumulated deficit	(417,742)	(413,294)
Accumulated other comprehensive loss	(104)	363
Total stockholders' equity	230,674	232,139
Total liabilities, convertible preferred stock and stockholders' equity	$300,236	$320,925
See accompanying Notes to Condensed Consolidated Financial Statements.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

	For the three months ended March 31,
	2026	2025
Revenue
Hardware	$15,381	$18,830
Professional services	6,033	3,893
Hosted services	17,269	18,621
Total revenue	38,683	41,344
Cost of revenue
Hardware	12,576	13,960
Professional services	5,898	7,293
Hosted services	5,088	6,529
Total cost of revenue	23,562	27,782
Operating expense
Research and development	6,146	8,258
Sales and marketing	4,446	4,770
General and administrative	9,623	16,894
Total operating expense	20,215	29,922
Impairment charge	-	24,929
Loss from operations	(5,094)	(41,289)
Interest income	860	1,303
Interest expense	(99)	(103)
Other (expense) income, net	(75)	13
Loss before income taxes	(4,408)	(40,076)
Income tax expense	40	108
Net loss	$(4,448)	$(40,184)
Other comprehensive loss
Foreign currency translation adjustment	(467)	88
Comprehensive loss	$(4,915)	$(40,096)
Net loss per common share
Basic and diluted	$(0.02)	$(0.21)
Weighted-average number of shares used in computing net loss per share
Basic and diluted	191,654	192,419
See accompanying Notes to Condensed Consolidated Financial Statements.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

Convertible Preferred Stock · Class A Common Stock
Shares · Amount (Par Value $0.0001) · Shares · Amount (Par Value $0.0001) · Additional Paid In Capital · Accumulated Deficit · Accumulated other comprehensive income (loss) · Total Stockholders' Equity
Balance, December 31, 2025	-	$	-		189,677	$19		$645,051	$(413,294)		$363	$232,139
Stock-based compensation	-		-		-	-		3,057	-		-	3,057
Issuance of Class A common stock upon vesting of equity awards	-		-		1,974	-		-	-		-	-
Tax withholdings related to net share settlement of equity awards	-		-		(470)	-		(559)	-		-	(559)
ESPP purchases	-		-		118	-		96	-		-	96
Exercise of options				1,422			856			856
Net loss	-		-		-	-		-	(4,448)		-	(4,448)
Other comprehensive income	-		-						(467)		(467)
Balance, March 31, 2026	-	$	-		192,721	$19		$648,501	$(417,742)		$(104)	$230,674

Convertible Preferred Stock · Class A Common Stock
Shares · Amount (Par Value $0.0001) · Shares · Amount (Par Value $0.0001) · Additional Paid In Capital · Accumulated Deficit · Accumulated other comprehensive (loss) income · Total Stockholders' Equity
Balance, December 31, 2024	-	$	-	192,049	$19	$637,361	$(347,847)	$(98)	$289,435
Stock-based compensation	-		-	-	-	2,836	-	-	2,836
Issuance of Class A common stock upon vesting of equity awards	-		-	906	-	-	-	-	-
Tax withholdings related to net share settlement of equity awards	-		-	(328)	-	(478)	-	-	(478)
ESPP purchases	-		-	140	-	175	-	-	175
Repurchases of Class A common stock	-		-	(1,018)	-	-	(1,202)	-	(1,202)
Net loss	-		-	-	-	-	(40,184)	-	(40,184)
Other comprehensive income	-		-				88	88
Balance, March 31, 2025	-	$	-	191,749	$19	$639,894	$(389,233)	$(10)	$250,670
See accompanying Notes to Condensed Consolidated Financial Statements.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.