SMRT (SMRT) financial statements
SMRT reported revenue of $152M in fiscal 2025, up 23.7% a year over 5 years.
Net income was -$61M and the operating margin -42.0%, against -68.0% in 2020.
Free cash flow was -$25M, and the company returned $5M in net buybacks.
The diluted share count rose 2106% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SMRT's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $53M | $111M | $168M | $237M | $175M | $152M |
| Cost of revenue | $57M | $121M | $166M | $187M | $115M | $102M |
| Gross profit | -$4M | -$10M | $1M | $50M | $60M | $50M |
| Research and development | $9M | $22M | $29M | $29M | $29M | $26M |
| Selling, general and admin | $22M | $40M | $76M | $64M | $73M | $63M |
| Operating income | -$36M | -$72M | -$104M | -$43M | -$42M | -$64M |
| Pre-tax income | -$37M | -$72M | -$102M | -$35M | -$33M | -$61M |
| Income tax | $149,000 | $115,000 | -$5M | -$108,000 | $267,000 | $41,000 |
| Net income | -$37M | -$72M | -$96M | -$35M | -$34M | -$61M |
| EPS (diluted) | -$4.32 | -$0.96 | -$0.49 | -$0.17 | -$0.17 | -$0.32 |
| Diluted shares | 9M | 75M | 196M | 201M | 199M | 190M |
| Gross margin | -8.2% | -9.1% | 0.8% | 20.9% | 34.5% | 32.7% |
| Operating margin | -68.0% | -64.8% | -62.1% | -18.2% | -23.9% | -42.0% |
| Net margin | -70.6% | -65.0% | -57.4% | -14.6% | -19.2% | -39.8% |
Balance sheet
Fiscal years, from SMRT's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $39M | $431M | $210M | $215M | $142M | $105M |
| Receivables | $21M | $45M | $62M | $62M | $59M | $47M |
| Inventory | $18M | $33M | $76M | $42M | $35M | $27M |
| Total current assets | $88M | $536M | $378M | $340M | $258M | $188M |
| Property, plant and equipment | $847,000 | $2M | $2M | $1M | $2M | $5M |
| Goodwill | $4M | $13M | $117M | $117M | $117M | $92M |
| Total assets | $104M | $580M | $561M | $510M | $420M | $321M |
| Total current liabilities | $33M | $71M | $133M | $117M | $71M | $60M |
| Total liabilities | $71M | $130M | $197M | $167M | $131M | $89M |
| Shareholders' equity | -$78M | $450M | $364M | $342M | $289M | $232M |
| Net debt | -$37M | -$431M | -$210M | -$215M | -$142M | -$105M |
Cash flow
Fiscal years, from SMRT's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$28M | -$70M | -$78M | $6M | -$33M | -$22M |
| Capital spending | $298,000 | $1M | $1M | $147,000 | $2M | $4M |
| Free cash flow | -$29M | -$72M | -$79M | $6M | -$35M | -$25M |
| Stock-based compensation | $1M | $7M | $13M | $13M | $12M | $9M |
| Share buybacks (net) | — | — | — | — | -$29M | -$5M |
| Net borrowing | -$139,000 | -$5M | — | — | — | — |
| Free cash flow margin | -54.8% | -64.9% | -47.0% | 2.5% | -19.8% | -16.5% |
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Open SMRT in InvestinglyQuestions
What was SMRT's revenue in 2025?
$152M in fiscal 2025, from its 10-K filing.
How much free cash flow does SMRT generate?
-$25M in fiscal 2025 (operating cash flow minus capital spending).
From SMRT's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.