SmartRent (NYSE:SMRT) Announces Earnings Results, Meets Expectations

SmartRent (NYSE:SMRT) announced its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02), FiscalAI reports. SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. The firm had revenue of $36.63 million during the quarter, compared to analysts’ expectations of $36.82 million.

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 Price Performance

Shares of NYSE:SMRT traded down $0.02 on Friday, reaching $1.13. The company’s stock had a trading volume of 627,759 shares, compared to its average volume of 1,065,119. The stock’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.65. SmartRent has a 52-week low of $0.72 and a 52-week high of $2.20. The stock has a market capitalization of $216.29 million, a P/E ratio of -8.65 and a beta of 1.57.

Analyst Ratings Changes

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

Insider Activity at SmartRent

In other SmartRent news, Director Thomas N. Bohjalian bought 150,000 shares of SmartRent stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $1.74 per share, with a total value of $261,000.00. Following the completion of the acquisition, the director owned 500,000 shares of the company’s stock, valued at approximately $870,000. This represents a 42.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Kanen Wealth Management LLC purchased a new position in SmartRent during the third quarter worth about $26,000. Neuberger Berman Group LLC purchased a new position in SmartRent during the fourth quarter worth about $30,000. Jump Financial LLC purchased a new position in SmartRent during the second quarter worth about $42,000. Qube Research & Technologies Ltd purchased a new position in SmartRent during the second quarter worth about $43,000. Finally, Franklin Resources Inc. purchased a new position in SmartRent during the third quarter worth about $43,000. 59.42% of the stock is owned by hedge funds and other institutional investors.

About SmartRent

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.