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v3.25.2

Revenue and Deferred Revenue (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Summary of Disaggregation of Revenue | In the following tables, revenue is disaggregated by primary geographical market, type of revenue, and SmartRent Solution.
|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue by geography |  |  |  |  |  |  |  |  |  |  |  |
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 |
|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue by type |  |  |  |  |  |  |  |  |  |  |  |
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 |
|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (dollars in thousands) |  |  | (dollars in thousands) |
SmartRent Solutions |  | Hardware |  | Professional Services |  | Hosted Services |  | 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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.
|  | For the six months ended June 30, |  |
|  | 2025 |  |  | 2024 |  |
Deferred revenue balance as of January 1 |  | $ | 87,659 |  |  | $ | 123,159 |  |
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 |  |

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