SmartRent Inc. Reports Q1 2025 Results: Revenue Falls 18% YoY to $41.3M, Net Loss Widens to $40.2M with $24.9M Goodwill Impairment, Adjusted EBITDA Declines to $(6.4) M
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SmartRent Inc. reported Q1 2025 results with an 18% revenue decline to $41.3M and a widened net loss of $40.2M, including a $24.9M goodwill impairment. SaaS revenue increased by 17% to $14.0M, representing 33.8% of total revenue. Adjusted EBITDA fell to $(6.4) M from a positive $0.4M last year. The company repurchased 1.0M shares for $1.2M, with $20.4M remaining in its buyback program. SmartRent ended the quarter with $126M in cash and emphasized its focus on recurring revenue and long-term growth in the smart home IoT market.
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