SmartRent generated $36.5 million in revenue for the quarter ended December 31, 2025, a 10% year‑over‑year increase from $35.4 million in Q4 2024. The growth was largely driven by a 10% rise in SaaS revenue to $15.35 million, while hardware revenue fell 5% to $11.2 million, reflecting the company’s ongoing shift away from low‑margin hardware sales toward higher‑margin subscription services.
The company’s net loss narrowed to $3.5 million, compared with a $3.6 million loss in Q4 2024. The improvement stems from disciplined cost management and the higher gross margin associated with the expanding SaaS mix, which offsets the decline in hardware revenue. Adjusted EBITDA reached $200,000, marking the first positive run‑rate cash flow neutrality for SmartRent and underscoring the financial benefits of the SaaS‑first strategy.
Cash on hand increased to $105 million, up $5 million from the $100 million balance reported on September 30, 2025. The stronger liquidity position reflects robust cash generation from the growing subscription base and the company’s zero‑debt stance, providing flexibility for future investments in product development and market expansion.
CEO Frank Martell emphasized that the quarter’s results validate the company’s focus on cost discipline and building a predictable growth profile driven by recurring software revenue. He noted that “our disciplined execution over the second half of 2025 has delivered on our commitments to invest in revenue‑generating teams, drive productivity, and reset expense levels while maintaining significant cash reserves.”
SmartRent will release the full audited results and hold an earnings call on March 4, 2026. Management has not yet provided updated guidance for the remainder of 2026, but the preliminary figures suggest a positive trajectory as the company continues to scale its SaaS platform and strengthen its recurring revenue base.
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