| 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 September 30, |
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For the nine months ended September 30, |
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2026 |
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2025 |
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2026 |
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|
2025 |
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Revenue by geography |
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United States |
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$ |
41,566 |
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$ |
36,097 |
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|
$ |
120,031 |
|
|
$ |
115,705 |
|
International |
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|
- |
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|
|
105 |
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|
|
62 |
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|
|
149 |
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Total revenue |
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$ |
41,566 |
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$ |
36,202 |
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$ |
120,093 |
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$ |
115,854 |
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For the three months ended September 30, |
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For the nine months ended September 30, |
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2026 |
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2025 |
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|
2026 |
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|
2025 |
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Revenue by type |
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Hardware |
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$ |
18,492 |
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$ |
11,506 |
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$ |
47,497 |
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$ |
45,479 |
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Professional services |
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6,469 |
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|
|
7,035 |
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|
21,138 |
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|
|
15,255 |
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Hosted services |
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16,605 |
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|
|
17,661 |
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|
|
51,458 |
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|
|
55,120 |
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Total revenue |
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$ |
41,566 |
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$ |
36,202 |
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$ |
120,093 |
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$ |
115,854 |
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For the three months ended September 30, |
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For the nine months ended September 30, |
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2026 |
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2025 |
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|
2026 |
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|
2025 |
|
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(dollars in thousands) |
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(dollars in thousands) |
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SmartRent Solutions(1) |
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Hardware |
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Professional Services |
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Hosted Services |
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Total 2026 |
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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 2026 |
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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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Smart Communities Solutions |
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Smart Apartments |
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$ |
15,792 |
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$ |
4,914 |
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$ |
12,795 |
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$ |
33,501 |
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$ |
10,182 |
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$ |
6,137 |
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$ |
13,599 |
|
$ |
29,918 |
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$ |
42,446 |
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$ |
17,388 |
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$ |
39,385 |
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$ |
99,219 |
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$ |
41,437 |
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$ |
12,938 |
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$ |
42,623 |
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$ |
96,998 |
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Access Control |
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2,514 |
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|
1,373 |
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|
819 |
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4,706 |
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736 |
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|
502 |
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501 |
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1,739 |
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4,271 |
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3,206 |
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|
2,332 |
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9,809 |
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2,568 |
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1,245 |
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|
1,646 |
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|
5,459 |
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Other |
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|
186 |
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|
182 |
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|
821 |
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1,189 |
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588 |
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|
396 |
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929 |
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1,913 |
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|
780 |
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|
544 |
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2,875 |
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4,199 |
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1,474 |
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|
1,072 |
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2,795 |
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|
5,341 |
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Smart Operations Solutions |
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- |
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- |
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|
2,170 |
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2,170 |
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- |
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- |
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2,632 |
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2,632 |
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- |
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- |
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6,866 |
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|
6,866 |
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- |
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- |
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|
8,056 |
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|
8,056 |
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Total Revenue |
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$ |
18,492 |
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$ |
6,469 |
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$ |
16,605 |
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$ |
41,566 |
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$ |
11,506 |
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$ |
7,035 |
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$ |
17,661 |
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$ |
36,202 |
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$ |
47,497 |
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$ |
21,138 |
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$ |
51,458 |
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$ |
120,093 |
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$ |
45,479 |
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$ |
15,255 |
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$ |
55,120 |
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$ |
115,854 |
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(1) For the three and nine months ended September 30, 2026, the Company revised the presentation of the above table by aggregating Community WiFi revenue in Other as revenue from the Company's Community WiFi solution is becoming less significant. The revised presentation has been applied retrospectively for the comparative periods ended September 30, 2025. For the three months ended September 30, 2026 and 2025, total revenue attributable to Community WiFi was $47 and $450, respectively. For the nine months ended September 30, 2026 and 2025, total revenue attributable to Community WiFi was $499 and $1,168, respectively. For the three months ended September 30, 2025, revenue attributable to Community WiFi was $94 related to Hardware, $164 related to Professional Services and $192 related to Hosted Services. For the nine months ended September 30, 2025, revenue attributable to Community WiFi was $151 related to Hardware, $423 related to Professional Services and $594 related to Hosted Services.
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| Summary of Deferred Revenue, by Arrangement, Disclosure |
A summary of the change in deferred revenue is as follows.
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For the nine months ended September 30, |
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2026 |
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|
2025 |
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Deferred revenue balance as of January 1 |
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$ |
55,934 |
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$ |
87,659 |
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Revenue recognized from balance of deferred revenue
at the beginning of the period |
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(11,075 |
) |
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(21,448 |
) |
Revenue deferred during the period |
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1,546 |
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6,187 |
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Revenue recognized from revenue originated
and deferred during the period |
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(117 |
) |
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(807 |
) |
Deferred revenue balance as of March 31 |
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46,288 |
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71,591 |
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Revenue recognized from balance of deferred revenue
at the beginning of the period |
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(8,885 |
) |
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(8,454 |
) |
Revenue deferred during the period |
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2,709 |
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6,202 |
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Revenue recognized from revenue originated
and deferred during the period |
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(443 |
) |
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(2,982 |
) |
Deferred revenue balance as of June 30 |
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39,669 |
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|
66,357 |
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Revenue recognized from balance of deferred revenue
at the beginning of the period |
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(3,292 |
) |
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(7,321 |
) |
Revenue deferred during the period |
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2,715 |
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|
847 |
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Revenue recognized from revenue originated
and deferred during the period |
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(1,022 |
) |
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(1,127 |
) |
Deferred revenue balance as of September 30 |
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$ |
38,070 |
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|
$ |
58,756 |
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