SmartRent (NYSE:SMRT) Issues Quarterly Earnings Results

SmartRent (NYSE:SMRT) posted its quarterly earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01), FiscalAI reports. SmartRent had a negative return on equity of 8.50% and a negative net margin of 12.97%.The business had revenue of $38.39 million during the quarter, compared to analyst estimates of $39.62 million.

Here are the key takeaways from SmartRent’s conference call:

• Core revenue rose 14% to $38 million, while SaaS revenue increased 13% to $16 million and exceeded 40% of total revenue. ARR reached approximately $65 million, supported by installed-base growth and adoption of access control and self-guided tours.
• Trailing-12-month units booked increased 40% to roughly 112,000, and SmartRent said it expects to surpass 1 million installed IoT units in the first half of 2027. Management characterized the bookings momentum as a combination of improved sales execution and the timing of several larger orders, while cautioning that quarterly deployments may remain uneven.
• Gross margin expanded 760 basis points to 41%, helped by revenue growth and cost reductions; SaaS gross margin reached 75% and professional-services gross margin improved to 21%. Adjusted EBITDA was positive for the third consecutive quarter, and management expects second-half 2026 revenue, profitability, and cash flow to exceed the first half.
• SmartRent ended the quarter with $93 million in cash, no debt, and an undrawn $75 million credit facility, while repurchasing approximately 1.5% of shares for $3 million. The board subsequently authorized up to $25 million in additional repurchases.
• Management is building a data-and-analytics business using its connected-device network and partnerships with Databricks and Hexaware, targeting opportunities in energy efficiency, water conservation, and risk management. Executives described this as a potentially sizable future revenue and ARPU opportunity, but provided limited timing or investment details.

SmartRent Trading Down 1.8%

Shares of SmartRent stock traded down $0.03 on Friday, hitting $1.34. The stock had a trading volume of 621,818 shares, compared to its average volume of 1,464,703. The stock has a market cap of $259.37 million, a price-to-earnings ratio of -13.45 and a beta of 1.52. The company’s 50 day moving average price is $1.09 and its 200 day moving average price is $1.37. SmartRent has a 52-week low of $0.91 and a 52-week high of $2.20.

Insider Buying and Selling

In other SmartRent news, CEO Frank Martell purchased 100,000 shares of SmartRent stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $1.18 per share, with a total value of $118,000.00. Following the acquisition, the chief executive officer directly owned 3,165,266 shares of the company’s stock, valued at $3,735,013.88. This represents a 3.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Bohjalian purchased 75,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of $1.11 per share, for a total transaction of $83,250.00. Following the acquisition, the director owned 721,062 shares in the company, valued at approximately $800,378.82. This trade represents a 11.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 245,260 shares of company stock valued at $283,044. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Kanen Wealth Management LLC purchased a new stake in SmartRent during the third quarter valued at about $26,000. Neuberger Berman Group LLC acquired a new position in shares of SmartRent in the 4th quarter valued at about $30,000. Jump Financial LLC acquired a new position in shares of SmartRent in the 2nd quarter valued at about $42,000. Qube Research & Technologies Ltd purchased a new stake in shares of SmartRent during the 2nd quarter worth about $43,000. Finally, Franklin Resources Inc. acquired a new stake in SmartRent during the 3rd quarter worth approximately $43,000. 59.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on SMRT shares. Keefe, Bruyette & Woods lowered their target price on SmartRent from $1.40 to $1.20 and set a “market perform” rating for the company in a research note on Monday, July 13th. Weiss Ratings upgraded SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $1.20.

About SmartRent

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.