| Summary of Key Financial Performance Measures of Segment |
Key financial performance measures of the segment are as follows.
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For the three months ended March 31, |
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2026 |
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2025 |
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Revenue |
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Hardware |
|
$ |
15,381 |
|
|
$ |
18,830 |
|
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Professional Services |
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|
6,033 |
|
|
|
3,893 |
|
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Deferred hub amortization |
|
|
2,050 |
|
|
|
4,658 |
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SaaS - Smart Apartments |
|
|
11,052 |
|
|
|
9,757 |
|
|
SaaS - Smart Operations |
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|
2,402 |
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|
|
2,798 |
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SaaS - All Other |
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|
1,765 |
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|
|
1,408 |
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SaaS |
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|
15,219 |
|
|
|
13,963 |
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Total revenue |
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|
38,683 |
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|
|
41,344 |
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Cost of revenue |
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Hardware |
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12,576 |
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|
13,960 |
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Professional Services |
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|
5,898 |
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|
7,293 |
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Deferred hub amortization |
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|
1,203 |
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|
|
2,440 |
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SaaS |
|
|
3,885 |
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|
|
4,089 |
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Total cost of revenue |
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|
23,562 |
|
|
|
27,782 |
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Gross profit |
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|
15,121 |
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|
|
13,562 |
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Operating expenses |
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Research and development |
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5,442 |
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|
|
7,086 |
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Sales and marketing |
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|
4,182 |
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|
|
4,542 |
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General and administrative |
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|
6,351 |
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|
14,606 |
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Stock compensation |
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|
2,957 |
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|
2,543 |
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Depreciation and amortization |
|
|
1,283 |
|
|
|
1,145 |
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Total operating expenses |
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|
20,215 |
|
|
|
29,922 |
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Impairment charge |
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|
- |
|
|
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24,929 |
|
|
|
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Loss from operations |
|
|
(5,094 |
) |
|
|
(41,289 |
) |
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Other segment items(1) |
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|
646 |
|
|
|
1,105 |
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Net loss |
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$ |
(4,448 |
) |
|
$ |
(40,184 |
) |
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(1) Other segment items include interest income, net, other income (expense), net, and income tax expense (benefit).
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