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

07 May 2026, 22:34 by Renee Jackson · The Cerbat Gem

SmartRent (NYSE:SMRT – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02), FiscalAI reports. The business had revenue of $36.63 million for the quarter, compared to analyst estimates of $36.82 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:

SmartRent expanded its IoT footprint to ~911,000 units (10% YoY growth) and is targeting to surpass 1 million installed units in the first half of 2027 as part of its “March to One Million” initiative.
The company reported ARR of $61M (up 9% YoY) and increasing SaaS mix (SaaS now ~39% of revenue), which management says will drive higher-quality, more recurring revenue over time.
Profitability and cost structure improved materially: Q1 gross profit was $15M with a 39% gross margin (+630 bps YoY), adjusted EBITDA was positive (~$0.4M) for the second consecutive quarter, net loss narrowed to $4.4M, and the company ended the quarter with $99M cash and no debt.
Total revenue fell ~6% YoY to $38.7M, bookings declined 9% to 16,592 units, hardware revenue was down 18% and hardware gross margin weakened, driven by an easier prior-year comparison, rep ramp timing and caution among some customers.
Management highlighted several growth levers — including renewals, planned hardware refresh cycles (roughly ~300k legacy units up for renegotiation with ~33% average price uplift on initial renewals), a VAR channel for SMBs, and sales hiring — which could materially lift ARPU and long‑term growth.

SmartRent Stock Down 3.8%

Shares of SmartRent stock traded down $0.05 during trading on Thursday, reaching $1.13. The company’s stock had a trading volume of 957,946 shares, compared to its average volume of 928,567. The business’s 50-day moving average price is $1.53 and its 200-day moving average price is $1.65. The firm has a market cap of $216.29 million, a PE ratio of -8.65 and a beta of 1.57. SmartRent has a 52 week low of $0.72 and a 52 week high of $2.20.

Insider Buying and Selling

In other SmartRent news, Director Thomas N. Bohjalian purchased 150,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $1.74 per share, with a total value of $261,000.00. Following the completion of the transaction, the director owned 500,000 shares in the company, valued at $870,000. The trade was a 42.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Separately, Weiss Ratings cut SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SmartRent currently has a consensus rating of “Reduce” and a consensus target price of $1.45.

Get Our Latest Analysis on SmartRent

SmartRent Company Profile

(Get Free Report)

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.