SmartRent, Inc.
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
View on SEC.govAbout 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.
Jun 30, 2026 · Filed Aug 5, 2026
SMRT$1.66+4.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
PART I - Financial Information
| As of | ||
|---|---|---|
| June 30, 2026 | December 31, 2025 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $92,662 | $104,550 |
| Accounts receivable, net | 38,105 | 47,401 |
| Inventory | 21,331 | 26,670 |
| Deferred cost of revenue, current portion | 1,010 | 3,068 |
| Prepaid expenses and other current assets | 9,291 | 6,189 |
| Total current assets | 162,399 | 187,878 |
| Property and equipment, net | 4,686 | 5,121 |
| Deferred cost of revenue | - | 121 |
| Goodwill | 92,339 | 92,339 |
| Intangible assets, net | 17,564 | 19,501 |
| Other long-term assets | 16,710 | 15,965 |
| Total assets | $293,698 | $320,925 |
| LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable | $8,456 | $13,012 |
| Accrued expenses and other current liabilities | 15,206 | 14,040 |
| Deferred revenue, current portion | 19,022 | 32,966 |
| Total current liabilities | 42,684 | 60,018 |
| Deferred revenue | 20,647 | 22,968 |
| Other long-term liabilities | 5,229 | 5,800 |
| Total liabilities | 68,560 | 88,786 |
| Commitments and contingencies (Note 11) | ||
| Convertible preferred stock, $0.0001 par value; 50,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares of preferred stock issued and outstanding as of June 30, 2026 and December 31, 2025 | - | - |
| Stockholders' equity | ||
| Class A common stock, $0.0001 par value; 500,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 191,611 and 189,677 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 19 | 19 |
| Additional paid-in capital | 651,619 | 645,051 |
| Accumulated deficit | (426,783) | (413,294) |
| Accumulated other comprehensive loss | 283 | 363 |
| Total stockholders' equity | 225,138 | 232,139 |
| Total liabilities, convertible preferred stock and stockholders' equity | $293,698 | $320,925 |
| See accompanying Notes to Condensed Consolidated Financial Statements. | ||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| For the three months ended June 30, | For the six months ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue | ||||
| Hardware | $13,624 | $15,143 | $29,005 | $33,973 |
| Professional services | 8,636 | 4,327 | 14,669 | 8,220 |
| Hosted services | 17,584 | 18,838 | 34,853 | 37,459 |
| Total revenue | 39,844 | 38,308 | 78,527 | 79,652 |
| Cost of revenue | ||||
| Hardware | 11,914 | 12,868 | 24,490 | 26,828 |
| Professional services | 6,860 | 6,237 | 12,758 | 13,530 |
| Hosted services | 4,850 | 6,535 | 9,938 | 13,064 |
| Total cost of revenue | 23,624 | 25,640 | 47,186 | 53,422 |
| Operating expense | ||||
| Research and development | 5,582 | 6,465 | 11,728 | 14,723 |
| Sales and marketing | 5,225 | 6,375 | 9,671 | 11,145 |
| General and administrative | 11,874 | 11,513 | 21,497 | 28,407 |
| Total operating expense | 22,681 | 24,353 | 42,896 | 54,275 |
| Impairment charge | - | - | - | 24,929 |
| Loss from operations | (6,461) | (11,685) | (11,555) | (52,974) |
| Interest income | 815 | 1,101 | 1,675 | 2,404 |
| Interest expense | (89) | (89) | (188) | (192) |
| Other expense, net | (68) | (220) | (143) | (207) |
| Loss before income taxes | (5,803) | (10,893) | (10,211) | (50,969) |
| Income tax (benefit) expense | (162) | (33) | (122) | 75 |
| Net loss | $(5,641) | $(10,860) | $(10,089) | $(51,044) |
| Other comprehensive loss | ||||
| Foreign currency translation adjustment | 387 | 639 | (80) | 727 |
| Comprehensive loss | $(5,254) | $(10,221) | $(10,169) | $(50,317) |
| Net loss per common share | ||||
| Basic and diluted | $(0.03) | $(0.06) | $(0.05) | $(0.27) |
| Weighted-average number of shares used in computing net loss per share | ||||
| Basic and diluted | 192,414 | 188,755 | 192,028 | 190,577 |
| 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 loss | - | - | (467) | (467) | ||||||||||
| Balance, March 31, 2026 | - | $ | - | 192,721 | $19 | $648,501 | $(417,742) | $(104) | $230,674 | |||||
| Stock-based compensation | - | - | - | - | 3,233 | - | - | 3,233 | ||||||
| Issuance of common stock upon vesting of equity awards | - | - | 2,004 | - | - | - | - | - | ||||||
| Tax withholdings related to net share settlement of equity awards | - | - | (430) | - | (170) | - | - | (170) | ||||||
| Repurchases of Class A common stock | - | - | (2,800) | - | (3,400) | - | (3,400) | |||||||
| Exercise of options | - | - | 116 | - | 55 | - | - | 55 | ||||||
| Net loss | - | - | - | - | - | (5,641) | - | (5,641) | ||||||
| Other comprehensive income | - | - | - | - | - | - | 387 | 387 | ||||||
| Balance, June 30, 2026 | - | $ | - | 191,611 | $19 | $651,619 | $(426,783) | $283 | $225,138 | |||||
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 (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 |
| Stock-based compensation | - | - | - | - | 2,161 | - | - | 2,161 | |
| Issuance of common stock upon vesting of equity awards | - | - | 438 | - | - | - | - | - | |
| Tax withholdings related to net share settlement of equity awards | - | - | (57) | - | (45) | - | - | (45) | |
| Repurchases of Class A common stock | - | - | (4,066) | - | - | (3,716) | - | (3,716) | |
| Net loss | - | - | - | - | - | (10,860) | - | (10,860) | |
| Other comprehensive income | - | - | - | - | - | - | 639 | 639 | |
| Balance, June 30, 2025 | - | $ | - | 188,064 | $19 | $642,010 | $(403,809) | $629 | $238,849 |
| See accompanying Notes to Condensed Consolidated Financial Statements. | |||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.