SmartRent Q2 revenue falls 21%, net loss widens

SmartRent

06/08/2025 13:09

Overview

SmartRent Q2 revenue falls 21%, missing analyst expectations, per LSEG data

Net loss widens to $10.9 mln, missing analyst expectations, per LSEG data

Company expands cost reduction program to $30 mln, targeting cash flow neutrality

Outlook

SmartRent targets cash flow neutrality by end of 2025

Company expects $30 mln in annualized cost savings

SmartRent anticipates strong liquidity by end of year

Company sees SaaS revenue growth stabilizing later in 2025

Result Drivers

HARDWARE REVENUE DECLINE - Revenue fell 21% due to a shift away from bulk hardware sales, impacting hardware revenue by 39%

SAAS REVENUE GROWTH - SaaS revenue increased by 10% year-over-year, now representing 37% of total revenue, driven by improvements in Units Deployed

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$38.31 mln
$38.80 mln (2 Analysts)
Q2 EPS
-$0.06
Q2 Net Income
Miss
-$10.86 mln
-$9.73 mln (2 Analysts)
Q2 Operating Income
Beat
-$11.68 mln
-$13.50 mln (1 Analyst)
Q2 Pretax Profit
Beat
-$10.89 mln
-$12.50 mln (1 Analyst)
Q2 Operating Expenses
$24.35 mln


Press Release: ID:nBw7TS5H9a

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)