SmartRent(NYSE) SMRT

SmartRent, Inc. NYSE:SMRT 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.