SmartRent (SMRT) Gross Margin (2020 - 2026)
SmartRent's (SMRT) quarterly Gross Margin came in at 39.09% in Q1 2026, up 629.0% year-on-year from 5.36% in Q1 2025, and up 1.33% quarter-over-quarter from 38.58% in Q4 2025.
SmartRent (SMRT) Gross Margin (2020 - 2026) Analysis & Trends
SmartRent has disclosed Gross Margin across 7 years of filings, most recently posting 39.09% for Q1 2026.
- Gross Margin for Q1 2026 came in at 39.09%, up 629.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 34.36% (up 149.0% YoY), and the FY2025 annual result was 32.74%, down 176.0% from the prior year.
- Gross Margin came in at 39.09% for Q1 2026 at SmartRent, up from 38.58% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 92.02% in Q3 2023 to a low of 186.6% in Q4 2023.
- The 5-year median for Gross Margin is 38.47% (2024), against an average of 39.19%.
- Across the five-year window, Gross Margin slumped 27508 bps in 2023 and surged 21530 bps in 2024, its largest moves.
- SmartRent's Gross Margin stood at 88.48% in 2022, then slumped by 311 bps to 186.6% in 2023, then soared by 115 bps to 28.71% in 2024, then jumped by 34 bps to 38.58% in 2025, then rose by 1 bps to 39.09% in 2026.
- The last three Gross Margin figures came in at 39.09% (Q1 2026), 38.58% (Q4 2025), and 26.43% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | SmartRent | 209.86 Mn | 111.04 Mn | 15.12 Mn | 39.09% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 39.09% |
| Dec 31, 2025 | 38.58% |
| Sep 30, 2025 | 26.43% |
| Jun 30, 2025 | 33.07% |
| Mar 31, 2025 | 32.80% |
| Dec 31, 2024 | 28.71% |
| Sep 30, 2024 | 33.22% |
| Jun 30, 2024 | 35.67% |
| Mar 31, 2024 | 38.47% |
| Dec 31, 2023 | -186.60% |
| Sep 30, 2023 | 92.02% |
| Jun 30, 2023 | 90.96% |
| Mar 31, 2023 | 14.01% |
| Dec 31, 2022 | 88.48% |
| Sep 30, 2022 | 89.68% |
| Jun 30, 2022 | 85.52% |
| Mar 31, 2022 | 86.18% |
| Dec 31, 2021 | -9.10% |
| Sep 30, 2021 | -19.32% |
| Jun 30, 2021 | 88.97% |