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SmartRent (SMRT) Revenue & Revenue Breakdown

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SmartRent Revenue Highlights

Latest Revenue (Y)

$236.84M

Latest Revenue (Q)

$40.51M

Main Segment (Y)

Hardware

Main Geography (Y)

UNITED STATES

SmartRent Revenue by Period

SmartRent Revenue by Year

DateRevenueChange
2023-12-31$236.84M41.13%
2022-12-31$167.82M51.69%
2021-12-31$110.64M110.60%
2020-12-31$52.53M44.99%
2019-12-31$36.23M-

SmartRent generated $236.84M in revenue during NA 2023, up 41.13% compared to the previous quarter, and up 0.00% compared to the same period a year ago.

SmartRent Revenue by Quarter

DateRevenueChange
2024-09-30$40.51M-16.51%
2024-06-30$48.52M-3.90%
2024-03-31$50.49M-16.21%
2023-12-31$60.25M3.70%
2023-09-30$58.10M8.80%
2023-06-30$53.40M-17.94%
2023-03-31$65.08M60.49%
2022-12-31$40.55M-14.63%
2022-09-30$47.50M12.01%
2022-06-30$42.41M13.52%
2022-03-31$37.36M7.76%
2021-12-31$34.67M-1.32%
2021-09-30$35.13M62.07%
2021-06-30$21.68M13.14%
2021-03-31$19.16M40.87%
2020-12-31$13.60M-18.01%
2020-09-30$16.59M186.44%
2020-06-30$5.79M-65.02%
2020-03-31$16.55M-

SmartRent generated $40.51M in revenue during Q3 2024, up -16.51% compared to the previous quarter, and up 75.86% compared to the same period a year ago.

SmartRent Revenue Breakdown

SmartRent Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 23Dec 22Dec 21
Hardware$137.20M$87.37M$69.63M
Hosted Services$64.16M$48.15M$18.28M
Professional Services$55.49M$32.30M$22.73M

SmartRent's latest annual revenue breakdown by segment (product or service), as of Dec 23: Hardware (53.41%), Hosted Services (24.98%), and Professional Services (21.61%).

Quarterly Revenue by Product

Product/ServiceSep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21
Hardware$18.71M$29.08M$36.46M$35.63M$27.79M$37.33M$17.68M$26.68M$20.89M$22.11M$21.18M$22.02M
Hosted Services$18.50M$17.95M$17.10M$16.51M$15.56M$14.98M$14.08M$13.34M$12.39M$8.34M$6.10M$4.93M
Professional Services$6.84M$6.45M$21.55M$11.13M$10.05M$12.77M$8.79M$7.48M$9.12M$6.91M$7.39M$8.18M

SmartRent's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Hardware (42.48%), Hosted Services (41.99%), and Professional Services (15.53%).

SmartRent Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 23Dec 22Dec 21
UNITED STATES$235.55M$165.79M-
Non-US$1.28M$2.03M-
U S--$108.07M
Non Us--$2.56M

SmartRent's latest annual revenue breakdown by geography, as of Dec 23: UNITED STATES (99.46%), and Non-US (0.54%).

Quarterly Revenue by Country

CountrySep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21
Non-US$480.00K$188.00K$316.00K$48.00K$775.00K$146.00K$234.00K$404.00K$476.00K---
UNITED STATES$40.03M$50.30M$59.94M$58.06M$52.63M$64.93M$40.32M$47.10M$41.93M---
U S---------$36.45M$33.96M$34.25M
Non Us---------$912.00K$704.00K$885.00K

SmartRent's latest quarterly revenue breakdown by geography, as of Sep 24: UNITED STATES (98.82%), and Non-US (1.18%).

SmartRent Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
PYCRPaycor HCM$654.95M$167.48M
ETWOE2open Parent$634.55M$151.16M
PARPAR$415.82M$96.75M
CWANClearwater Analytics$368.17M$115.83M
SEMRSemrush$307.68M$97.41M
MLNKMeridianLink$303.62M$80.37M
SMRTSmartRent$236.84M$40.51M
ENFNEnfusion$174.53M$51.17M
ONTFON24$163.71M$37.35M
EXFYExpensify$150.69M$35.41M
LAWCS Disco$138.09M$36.27M
CCRDCoreCard$56.00M$15.70M
HKITHitek Global$4.56M$1.62M

SMRT Revenue FAQ

What is SmartRent’s yearly revenue?

SmartRent's yearly revenue for 2023 was $236.84M, representing an increase of 41.13% compared to 2022. The company's yearly revenue for 2022 was $167.82M, representing an increase of 51.69% compared to 2021. SMRT's yearly revenue for 2021 was $110.64M, representing an increase of 110.60% compared to 2020.

What is SmartRent’s quarterly revenue?

SmartRent's quarterly revenue for Q3 2024 was $40.51M, a -16.51% decrease from the previous quarter (Q2 2024), and a -30.28% decrease year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $48.52M, a -3.90% decrease from the previous quarter (Q1 2024), and a -9.15% decrease year-over-year (Q2 2023). SMRT's quarterly revenue for Q1 2024 was $50.49M, a -16.21% decrease from the previous quarter (Q4 2023), and a -22.42% decrease year-over-year (Q1 2023).

What is SmartRent’s revenue growth rate?

SmartRent's revenue growth rate for the last 3 years (2021-2023) was 114.07%, and for the last 5 years (2019-2023) was 553.67%.

What are SmartRent’s revenue streams?

SmartRent's revenue streams in c 23 are Hardware, Hosted Services, and Professional Services. Hardware generated $137.2M in revenue, accounting 53.41% of the company's total revenue, up 57.03% year-over-year. Hosted Services generated $64.16M in revenue, accounting 24.98% of the company's total revenue, up 33.26% year-over-year. Professional Services generated $55.5M in revenue, accounting 21.61% of the company's total revenue, up 71.81% year-over-year.

What is SmartRent’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of SmartRent was Hardware. This segment made a revenue of $137.2M, representing 53.41% of the company's total revenue.