SmartRent (NYSE:SMRT) Releases Quarterly Earnings Results, Hits Expectations

SmartRent (NYSE:SMRT) issued its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02), FiscalAI reports. SmartRent had a negative return on equity of 8.50% and a negative net margin of 12.97%. The firm had revenue of $40.69 million during the quarter, compared to the consensus estimate of $40.06 million.

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

• Revenue and margins improved substantially: Q3 core revenue grew 24% year over year, while gross margin expanded to 41% from 26%. Adjusted EBITDA was positive for the fourth consecutive quarter at $1.1 million.
• Bookings point to stronger deployment activity: Trailing 12-month units booked rose 44% and bookings by dollar value increased 29%. Management expects deployments to ramp in Q4 and 2027, with the 1 million installed-unit milestone targeted for the first half of 2027.
• Q4 outlook calls for continued growth: The company forecast total revenue growth of 15%–20%, core revenue growth of 20%–25%, and adjusted EBITDA growth of roughly 450%–650% year over year.
• Liquidity and cash generation strengthened: SmartRent ended September with $89 million in cash, no debt, and positive operating cash flow, and repurchased $3.4 million of shares during the quarter.
• Maintenance-related attrition is weighing on software metrics: Management said Smart Operations attrition is expected to continue for a couple more quarters, contributing to lower SaaS ARPU. The company is integrating and enhancing the offering, but expects benefits from those investments to begin in 2027.

SmartRent Price Performance

Shares of SMRT stock traded down $0.04 during trading hours on Thursday, reaching $1.57. 907,196 shares of the company’s stock were exchanged, compared to its average volume of 1,283,667. The company’s 50 day moving average is $1.24 and its two-hundred day moving average is $1.34. The company has a market cap of $301.79 million, a P/E ratio of -15.75 and a beta of 1.64. SmartRent has a 1 year low of $0.91 and a 1 year high of $2.20.

Analyst Ratings Changes

Several equities analysts have issued reports on SMRT shares. Keefe, Bruyette & Woods dropped their price objective 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. B. Riley Financial started coverage on shares of SmartRent in a research note on Tuesday, October 13th. They issued a “buy” rating and a $1.75 target price for the company. Finally, Weiss Ratings downgraded shares of SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SmartRent currently has a consensus rating of “Hold” and an average target price of $1.48.

Key SmartRent News

Here are the key news stories impacting SmartRent this week:

• Positive Sentiment: SmartRent reported revenue of $40.69 million, above analysts’ $40.06 million estimate. Its loss of $0.02 per share matched consensus and was narrower than the $0.03-per-share loss a year earlier—results that likely supported favorable earnings coverage. SmartRent Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Several articles and an earnings-call transcript highlighted the quarterly report and management’s commentary. The headlines described a positive trading response, though the information provided does not specify additional guidance or operating details to explain that reaction. Why SmartRent stock is trading up today
• Negative Sentiment: The company still recorded a quarterly loss; its negative net margin and return on equity underscore that a return to profitability remains a concern for investors. SmartRent reports Q3 loss, beats revenue estimates

Insider Activity at SmartRent

In other SmartRent news, CEO Frank Martell acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average price of $1.42 per share, with a total value of $142,000.00. Following the completion of the acquisition, the chief executive officer directly owned 3,672,086 shares of the company’s stock, valued at approximately $5,214,362.12. The trade was a 2.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Bohjalian acquired 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the acquisition, the director directly owned 766,062 shares of the company’s stock, valued at $1,072,486.80. This trade represents a 5.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 267,000 shares of company stock worth $378,110 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

SmartRent Company Profile

SmartRent, Inc (NYSE: SMRT) provides smart-home technology and property-management solutions for rental housing owners, operators and residents. Its platform is designed to help housing providers manage connected properties, improve operational efficiency and offer residents digital control over home features and services.

The company’s products and services include smart locks, thermostats, sensors, hubs, access-control systems and other connected devices, along with software for monitoring and managing properties.