SmartRent (NYSE:SMRT) Releases Earnings Results, Misses Expectations By $0.01 EPS

SmartRent (NYSE:SMRT) released its quarterly earnings data on Wednesday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01), FiscalAI reports. The firm had revenue of $38.39 million during the quarter, compared to the consensus estimate of $39.62 million. SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%.

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 Price Performance

SMRT stock traded up $0.17 during midday trading on Wednesday, reaching $1.23. The company had a trading volume of 6,270,958 shares, compared to its average volume of 1,457,347. The firm has a 50-day moving average price of $1.09 and a 200-day moving average price of $1.38. SmartRent has a 1 year low of $0.90 and a 1 year high of $2.20. The company has a market capitalization of $236.23 million, a P/E ratio of -9.42 and a beta of 1.52.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Frank Martell bought 100,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $1.18 per share, with a total value of $118,000.00. Following the purchase, the chief executive officer owned 3,165,266 shares of the company’s stock, valued at approximately $3,735,013.88. This trade represents a 3.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Bohjalian acquired 75,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was purchased at an average price of $1.11 per share, with a total value of $83,250.00. Following the acquisition, the director owned 721,062 shares of the company’s stock, valued at $800,378.82. This represents a 11.61% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 295,260 shares of company stock worth $339,044. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SmartRent

Several institutional investors have recently added to or reduced their stakes in SMRT. Invesco Ltd. raised its position in SmartRent by 4.8% in the 4th quarter. Invesco Ltd. now owns 331,584 shares of the company’s stock worth $670,000 after buying an additional 15,124 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of SmartRent by 74.6% during the 4th quarter. XTX Topco Ltd now owns 331,534 shares of the company’s stock valued at $670,000 after acquiring an additional 141,613 shares during the last quarter. Stoic Point Capital Management LLC bought a new stake in shares of SmartRent in the fourth quarter worth approximately $5,022,000. Balyasny Asset Management L.P. bought a new stake in shares of SmartRent in the fourth quarter worth approximately $133,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of SmartRent by 25.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 250,000 shares of the company’s stock worth $505,000 after acquiring an additional 50,000 shares during the period. 59.42% of the stock is currently owned by hedge funds and other institutional investors.

SmartRent Company Profile

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.