| 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 years ended December 31, |
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2025 |
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2024 |
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2023 |
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Revenue by geography |
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United States |
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$ |
152,165 |
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$ |
173,207 |
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$ |
235,553 |
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International |
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|
161 |
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|
|
1,678 |
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|
|
1,285 |
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Total revenue |
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$ |
152,326 |
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$ |
174,885 |
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$ |
236,838 |
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For the years ended December 31, |
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2025 |
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2024 |
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2023 |
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Revenue by type |
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Hardware |
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$ |
57,973 |
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$ |
82,844 |
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$ |
137,201 |
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Professional services |
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21,133 |
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$ |
18,803 |
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|
35,473 |
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Hosted services |
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73,220 |
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$ |
73,238 |
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|
64,164 |
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Total revenue |
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$ |
152,326 |
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$ |
174,885 |
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$ |
236,838 |
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For the years ended December 31, |
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2025 |
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2024 |
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2023 |
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(dollars in thousands) |
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SmartRent Solutions |
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Hardware |
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Professional
Services |
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Hosted Services |
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Total 2025 |
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Hardware |
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Professional Services |
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Hosted Services |
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Total 2024 |
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Hardware |
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Professional Services |
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Hosted Services |
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Total 2023 |
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Smart Communities Solutions |
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Smart Apartments |
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$ |
52,833 |
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$ |
18,207 |
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$ |
56,473 |
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$ |
127,513 |
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$ |
74,754 |
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$ |
13,095 |
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$ |
57,335 |
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$ |
145,184 |
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$ |
130,894 |
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$ |
30,546 |
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$ |
49,696 |
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$ |
211,135 |
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Access Control |
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3,485 |
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1,685 |
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2,267 |
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7,437 |
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3,791 |
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2,378 |
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|
1,722 |
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7,891 |
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3,607 |
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3,527 |
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|
912 |
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8,047 |
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Community WiFi |
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71 |
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|
451 |
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|
770 |
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1,292 |
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|
287 |
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|
1,041 |
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|
701 |
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|
2,029 |
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|
395 |
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|
996 |
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|
688 |
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|
2,078 |
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Other |
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1,584 |
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|
790 |
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3,051 |
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5,425 |
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4,012 |
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2,289 |
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|
2,100 |
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8,401 |
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2,305 |
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|
404 |
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1,534 |
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|
4,243 |
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Smart Operations Solutions |
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- |
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- |
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10,659 |
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10,659 |
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- |
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- |
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11,380 |
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11,380 |
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- |
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- |
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11,334 |
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|
11,334 |
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Total Revenue |
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$ |
57,973 |
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$ |
21,133 |
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$ |
73,220 |
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$ |
152,326 |
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$ |
82,844 |
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$ |
18,803 |
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$ |
73,238 |
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$ |
174,885 |
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$ |
137,201 |
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$ |
35,473 |
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$ |
64,164 |
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|
236,838 |
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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 years ended December 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 |
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$ |
123,160 |
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Revenue recognized from balance of deferred revenue
at the beginning of the period |
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(42,631 |
) |
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(54,624 |
) |
Revenue deferred during the period |
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17,014 |
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32,862 |
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Revenue recognized from revenue originated
and deferred during the period |
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(6,108 |
) |
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(13,739 |
) |
Deferred revenue balance as of December 31 |
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$ |
55,934 |
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$ |
87,659 |
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