SmartRent (SMRT) Cost of Revenue (2020 - 2026)

SmartRent's Cost of Revenue history runs 7 years deep, the most recent figure standing at $23.6 million for Q1 2026.

• In Q1 2026, Cost of Revenue fell 15.19% year-over-year to $23.6 million; the TTM figure through Mar 2026 stood at $121.2 million (down 26.19% YoY), while the FY2025 annual figure was $102.5 million, down 10.55% from the prior year.
• Cost of Revenue came in at $23.6 million for Q1 2026 at SmartRent, down from $87.0 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $172.7 million in Q4 2023 to a low of $4.4 million in Q3 2025.
• A 5-year average of $33.9 million and a median of $6.4 million in 2025 frame the typical range for Cost of Revenue.
• Across the five-year window, Cost of Revenue tumbled 88.31% in 2022 and jumped 3597.71% in 2023, its largest moves.
• SmartRent's Cost of Revenue stood at $4.7 million in 2022, then surged by 3597.71% to $172.7 million in 2023, then plunged by 41.61% to $100.8 million in 2024, then decreased by 13.76% to $87.0 million in 2025, then tumbled by 72.9% to $23.6 million in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $23.6 million, $87.0 million, and $4.4 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

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