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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently SmartRent runs and where it’s prioritizing investment.Cost discipline is real — G&A and overall opex fell from the 2022–2024 peaks and helped drive margin recovery and back-to-back positive adjusted EBITDA; Q1 G&A spikes align with annual incentive payouts. Management’s next move is deliberate reinvestment: a sizable sales hire program and VAR onboarding will lift S&M and G&A in the near term, so the key risk is execution/timing — if hires and renewals don’t convert by H2 2026, margins could slip before the expected ARR and IoT unit growth materialize.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $5.22M | $5.58M | $11.87M |
Mar 31, 2026 | $4.45M | $6.15M | $9.62M |
Dec 31, 2025 | $3.95M | $5.35M | $8.74M |
Sep 30, 2025 | $4.35M | $6.15M | $6.09M |
Jun 30, 2025 | $6.38M | $6.46M | $11.51M |
Mar 31, 2025 | $4.77M | $8.26M | $16.89M |
Dec 31, 2024 | $4.73M | $6.93M | $11.45M |
Sep 30, 2024 | $4.44M | $6.60M | $14.15M |
Jun 30, 2024 | $4.72M | $7.48M | $12.02M |
Mar 31, 2024 | $4.55M | $8.36M | $16.67M |