| 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 June 30, |
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For the six months ended June 30, |
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|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Revenue by geography |
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United States |
|
$ |
38,288 |
|
|
$ |
47,852 |
|
|
$ |
79,608 |
|
|
$ |
98,153 |
|
International |
|
|
20 |
|
|
|
666 |
|
|
|
44 |
|
|
|
854 |
|
Total revenue |
|
$ |
38,308 |
|
|
$ |
48,518 |
|
|
$ |
79,652 |
|
|
$ |
99,007 |
|
|
|
|
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|
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|
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For the three months ended June 30, |
|
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For the six months ended June 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Revenue by type |
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Hardware |
|
$ |
15,143 |
|
|
$ |
24,676 |
|
|
$ |
33,973 |
|
|
$ |
53,753 |
|
Professional services |
|
|
4,327 |
|
|
|
5,816 |
|
|
|
8,220 |
|
|
$ |
9,274 |
|
Hosted services |
|
|
18,838 |
|
|
|
18,026 |
|
|
|
37,459 |
|
|
$ |
35,980 |
|
Total revenue |
|
$ |
38,308 |
|
|
$ |
48,518 |
|
|
$ |
79,652 |
|
|
$ |
99,007 |
|
|
|
|
|
|
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|
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|
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|
|
|
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|
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|
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|
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For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
|
(dollars in thousands) |
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|
(dollars in thousands) |
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SmartRent Solutions |
|
Hardware |
|
Professional Services |
|
Hosted Services |
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Total 2025 |
|
|
Hardware |
|
Professional
Services |
|
Hosted Services |
|
Total 2024 |
|
|
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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Smart Apartments |
|
$ |
13,558 |
|
$ |
3,807 |
|
$ |
14,609 |
|
$ |
31,974 |
|
|
$ |
22,124 |
|
$ |
4,461 |
|
$ |
14,146 |
|
$ |
40,731 |
|
|
$ |
31,255 |
|
$ |
6,801 |
|
$ |
29,024 |
|
$ |
67,080 |
|
|
$ |
49,556 |
|
$ |
7,171 |
|
$ |
28,216 |
|
$ |
84,943 |
|
Access Control |
|
|
1,193 |
|
|
267 |
|
|
614 |
|
|
2,074 |
|
|
|
866 |
|
|
918 |
|
|
379 |
|
|
2,163 |
|
|
|
1,832 |
|
|
743 |
|
|
1,145 |
|
|
3,720 |
|
|
|
1,883 |
|
|
1,517 |
|
|
735 |
|
|
4,135 |
|
Community WiFi |
|
|
54 |
|
|
41 |
|
|
209 |
|
|
304 |
|
|
|
13 |
|
|
221 |
|
|
179 |
|
|
413 |
|
|
|
57 |
|
|
259 |
|
|
402 |
|
|
718 |
|
|
|
147 |
|
|
234 |
|
|
346 |
|
|
727 |
|
Other |
|
|
338 |
|
|
212 |
|
|
781 |
|
|
1,331 |
|
|
|
1,673 |
|
|
216 |
|
|
551 |
|
|
2,440 |
|
|
|
829 |
|
|
417 |
|
|
1,464 |
|
|
2,710 |
|
|
|
2,170 |
|
|
396 |
|
|
961 |
|
|
3,527 |
|
Smart Operations Solutions |
|
|
- |
|
|
- |
|
|
2,625 |
|
|
2,625 |
|
|
|
- |
|
|
- |
|
|
2,771 |
|
|
2,771 |
|
|
|
- |
|
|
- |
|
|
5,424 |
|
|
5,424 |
|
|
|
(3 |
) |
|
(44 |
) |
|
5,722 |
|
|
5,675 |
|
Total Revenue |
|
$ |
15,143 |
|
$ |
4,327 |
|
$ |
18,838 |
|
$ |
38,308 |
|
|
$ |
24,676 |
|
$ |
5,816 |
|
$ |
18,026 |
|
$ |
48,518 |
|
|
$ |
33,973 |
|
$ |
8,220 |
|
$ |
37,459 |
|
$ |
79,652 |
|
|
$ |
53,753 |
|
$ |
9,274 |
|
$ |
35,980 |
|
$ |
99,007 |
|
|
| Summary of Deferred Revenue, by Arrangement, Disclosure |
A summary of the change in deferred revenue is as follows.
|
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|
|
|
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For the six months ended June 30, |
|
|
|
|
2025 |
|
|
2024 |
|
|
Deferred revenue balance as of January 1 |
|
$ |
87,659 |
|
|
$ |
123,159 |
|
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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 |
|
|
Revenue recognized from balance of deferred revenue
at the beginning of the period |
|
|
(8,454 |
) |
|
|
(8,914 |
) |
|
Revenue deferred during the period |
|
|
6,202 |
|
|
|
4,244 |
|
|
Revenue recognized from revenue originated
and deferred during the period |
|
|
(2,982 |
) |
|
|
(3,040 |
) |
|
Deferred revenue balance as of June 30 |
|
|
66,357 |
|
|
|
111,858 |
|
|
|