SmartRent(NYSE) SMRT

SmartRent, Inc. helps property owners manage buildings with smart technology. It connects devices like locks and thermostats to one central app. This system makes life easier for both managers and residents.

A Suite of Connected Tools

• Smart Apartments: Hardware and software for managing individual rental units; generated $33.3 million in revenue for the three months ended June 30, 2026.
• Smart Operations: Digital tools for managing property work orders and leasing; generated $2.3 million in revenue during the three-month period ended June 30, 2026.
• Hosted Services: Subscription fees for using the cloud platform and property monitoring; generated $17.6 million in revenue for the three months ended June 30, 2026.
• Professional Services: Installation, training, and technical support for smart home systems; brought in $8.6 million in revenue during the second quarter of 2026.

The Roadmap to 2028

• Introduced Vision 2028 in the first quarter of 2026 to focus on growing the unit footprint and improving profitability.
• Expanded software features with Answer Automation and Work Management solutions to help property managers automate daily tasks.
• Authorized a new stock repurchase program for $25 million in July 2026 to buy back shares of common stock.
• Reduced the backlog for access control hardware by making improvements to the global supply chain throughout 2025 and 2026.

What Makes the Platform Unique

The company utilizes an open-architecture approach that allows property managers to integrate many different third-party smart home devices into one interface. Its technology is currently used in approximately 14% of the institutionally owned multifamily and single-family rental market in the United States.

The Latest Financial Figures

• Total revenue was $39.8 million for the three months ended June 30, 2026, up 4% year over year.
• Annual Recurring Revenue reached $64.5 million as of June 30, 2026, compared to $56.9 million on June 30, 2025.
• Net loss was $5.6 million for the three-month period ended June 30, 2026, compared to a $10.9 million loss in the same period of 2025.
• The company held $92.7 million in cash and cash equivalents and had a market capitalization of $228.5 million as of June 30, 2026.

Bottom Line

SmartRent has evolved from a hardware-focused provider into a broader technology platform with a focus on high-margin software subscriptions. Its transition toward recurring revenue and operational automation supports its strategy to reach long-term profitability.