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SmartRent cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$2.6M in Q3 2026 · $3.8M over twelve months

Operating cash flow$2.9M
Capital spending−$227K
Free cash flow+$2.6M
Cash conversion cycle126 days

Analysis

In Q3 2026, SmartRent generated $2.9M of operating cash flow and spent $227K on capital projects, leaving free cash flow of $2.6M. That is $4.9M more than in Q3 2025 (−$2.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.3M; the largest uses were buybacks ($6.8M), other investing ($6.5M), other financing ($619K); the cash balance fell by $10.8M.

Operating cash flow was $2.9M against net income of −$3.9M. The largest differences: prepaid and other assets −$4.4M, receivables +$4.3M, stock-based pay +$3.2M.

Its cash conversion cycle was 126 days (receivables 79 + inventory 80 − payables 33).

Free cash flow

SmartRent: free cash flow by quarterSmartRent: free cash flow by quarter−$13.3MQ4 2024−$14.3MQ1 2025−$16.2MQ2 2025−$2.2MQ3 2025$7.7MQ4 2025−$4.6MQ1 2026−$1.9MQ2 2026$2.6MQ3 2026
Operating cash flow less capital spending.
SmartRent: operating cash flow against capital spendingSmartRent: operating cash flow against capital spendingOperating cash flowCapital spending−$12.0M$1.2MQ4 2024−$12.2M$2.2MQ1 2025−$14.9M$1.3MQ2 2025−$2.1M$90KQ3 2025$7.7M$1KQ4 2025−$4.5M$30KQ1 2026−$1.7M$225KQ2 2026$2.9M$227KQ3 2026
Latest (Q3 2026): Operating cash flow $2.9M, Capital spending $227K.

Capital allocation, year by year

SmartRent: where the cash came from (up) and went (down), by fiscal yearSmartRent: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$70.4MFY2021: Net borrowing −$4.9MFY2021: Shares issued $35.0MFY2021: Capital spending −$1.5M$35.0MFY2021FY2022: Operating cash flow −$77.8MFY2022: Shares issued $186KFY2022: Capital spending −$1.1MFY2022: Acquisitions −$130M$186KFY2022FY2023: Operating cash flow $6.0MFY2023: Shares issued $913KFY2023: Capital spending −$147K$6.9MFY2023FY2024: Operating cash flow −$32.9MFY2024: Capital spending −$1.8MFY2024: Buybacks −$28.6MFY2024FY2025: Operating cash flow −$21.6MFY2025: Capital spending −$3.6MFY2025: Buybacks −$4.9MFY2025
Over these 5 years operating cash flow totalled −$197M; the largest uses were operating cash flow ($203M) and acquisitions ($130M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$89.2M
Debtnone
Net cash$89.2M

SmartRent funds itself: free cash flow was $3.8M over the last twelve months, with $89.2M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

SmartRent: sources (+) and uses (−) of cash, Q3 2026SmartRent: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$3.4MBuybacks−$3.4MOperating cash flow$2.9MOther investing−$2.2MTaxes on employees’ shares−$526KCapital spending−$227KOther financing$106KExchange rates−$96K
SmartRent: sources (+) and uses (−) of cash, TTM to Q3 2026SmartRent: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)$10.8MBuybacks−$6.8MOther investing−$6.5MOperating cash flow$4.3MExchange rates−$683KOther financing−$619KCapital spending−$483K

From profit to cash

SmartRent: net income to operating cash flow, Q3 2026SmartRent: net income to operating cash flow, Q3 2026Net income−$3.9MDepreciation & amortization$2.2MStock-based pay$3.2MReceivables$4.3MInventory−$301KPayables$644KAccrued liabilities$1.7MPrepaid and other assets−$4.4MOperating cash flow$2.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026798033126
Q2 2026858833141
Q1 2026989841154
Q4 202512611249189
Q3 202514110639208
Q2 202512911842205
Q1 202511911134196
Q4 202415913033256

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026$2.9M−$227K−$3.4M$3.4M$2.6M
Q2 2026−$1.7M−$225K—$6.2M−$1.9M
Q1 2026−$4.5M−$30K—$5.7M−$4.6M
Q4 2025$7.7M−$1K$29K−$4.5M$7.7M
Q3 2025−$2.1M−$90K—$5.0M−$2.2M
Q2 2025−$14.9M−$1.3M−$3.7M$20.6M−$16.2M
Q1 2025−$12.2M−$2.2M−$1.2M$16.9M−$14.3M
Q4 2024−$12.0M−$1.2M−$5.1M$21.2M−$13.3M

SmartRent: income statement and cash flow

SmartRent, Q3 2026: revenue $41.6M (+15% year over year), operating margin -11.6%. The chart follows the revenue to costs, profit and cash.

SmartRent: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.