| Summary of Disaggregation of Revenue |
In the following tables, revenue is disaggregated by primary geographical market, type of revenue, and SmartRent Solution.
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For the three months ended March 31, |
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2025 |
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|
2024 |
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Revenue by geography |
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|
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United States |
|
$ |
41,320 |
|
|
$ |
50,301 |
|
International |
|
|
24 |
|
|
|
188 |
|
Total revenue |
|
$ |
41,344 |
|
|
$ |
50,489 |
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For the three months ended March 31, |
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2025 |
|
|
2024 |
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Revenue by type |
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Hardware |
|
$ |
18,830 |
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|
$ |
29,077 |
|
Professional services |
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|
3,893 |
|
|
$ |
3,458 |
|
Hosted services |
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|
18,621 |
|
|
$ |
17,954 |
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Total revenue |
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$ |
41,344 |
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|
$ |
50,489 |
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For the three months ended March 31, |
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2025 |
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|
2024 |
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(dollars in thousands) |
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SmartRent Solutions |
|
Hardware |
|
Professional
Services |
|
Hosted Services |
|
Total 2025 |
|
|
Hardware |
|
Professional Services |
|
Hosted Services |
|
Total 2024 |
|
Smart Communities Solutions |
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|
|
|
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|
|
|
|
|
|
|
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Smart Apartments |
|
$ |
17,697 |
|
$ |
2,993 |
|
$ |
14,415 |
|
$ |
35,105 |
|
|
$ |
27,429 |
|
$ |
2,713 |
|
$ |
14,072 |
|
$ |
44,214 |
|
Access Control |
|
|
639 |
|
|
475 |
|
|
531 |
|
|
1,645 |
|
|
|
1,015 |
|
|
561 |
|
|
349 |
|
|
1,925 |
|
Community WiFi |
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|
3 |
|
|
219 |
|
|
193 |
|
|
415 |
|
|
|
137 |
|
|
16 |
|
|
180 |
|
|
333 |
|
Other |
|
|
491 |
|
|
206 |
|
|
684 |
|
|
1,381 |
|
|
|
496 |
|
|
168 |
|
|
492 |
|
|
1,156 |
|
Smart Operations Solutions |
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|
- |
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|
- |
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|
2,798 |
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|
2,798 |
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|
|
- |
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|
- |
|
|
2,861 |
|
|
2,861 |
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Total Revenue |
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$ |
18,830 |
|
$ |
3,893 |
|
$ |
18,621 |
|
$ |
41,344 |
|
|
$ |
29,077 |
|
$ |
3,458 |
|
$ |
17,954 |
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$ |
50,489 |
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| Summary of Deferred Revenue, by Arrangement, Disclosure |
A summary of the change in deferred revenue is as follows.
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For the three months ended March 31, |
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2025 |
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|
2024 |
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Deferred revenue balance as of January 1 |
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$ |
87,659 |
|
|
$ |
123,159 |
|
Revenue recognized from balance of deferred revenue
at the beginning of the period |
|
|
(21,448 |
) |
|
|
(8,656 |
) |
Revenue deferred during the period |
|
|
6,187 |
|
|
|
7,075 |
|
Revenue recognized from revenue originated
and deferred during the period |
|
|
(807 |
) |
|
|
(2,010 |
) |
Deferred revenue balance as of March 31 |
|
|
71,591 |
|
|
|
119,568 |
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