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Smartrent, Inc. (SMRT) stock

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NYSE: SMRT NYSE Application Software Next results ~November 4, 2026

C Fundamentals grade

SmartRent is an enterprise real estate technology company whose platform helps property owners, managers and residents monitor and control residential buildings. Its cloud-based software, much of it paired with smart-building hardware, spans two groups of offerings. Smart Communities Solutions covers smart apartments, building and unit access control, self-guided tours and package management, using devices such as hubs, smart locks, thermostats and sensors, some made in-house under the Alloy brand. Smart Operations Solutions provides work order, call-handling, audit and inspection tools. An in-house team handles installation, training and support.

The firm earns money three ways: subscription fees for hosted services like access control, asset monitoring and WiFi; sales of smart-home devices; and installation and implementation work. Customers are chiefly large multifamily landlords, alongside single-family rental owners, homebuilders and iBuyers.

SmartRent sells mainly through its own sales team in the United States. At 31 December 2025 it had roughly 600 customers, 890,870 units deployed and 418 employees. It originated through a 2021 merger with a special purpose acquisition company and trades on the NYSE.

Based on Smartrent, Inc.'s 10-K filed March 4, 2026.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.1

Valuation models combined (2)

Base case. Range ~$1.0–$1.3. Weighted average of 2 models (growth cash-flow model, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Smartrent, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 0 selling28 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds68 adding, 60 cuttingOf 35 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Smartrent files

Where Smartrent stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $151m, down 2.8% on a year earlier, faster than -9.7% a quarter earlier. That puts it 18 of 21 for growth among the software and IT services companies we cover. Free-cash-flow margin rose to -0.7% from -30.7% a year earlier. Operating margin widened to -14.9% from -49.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $1.00 a share, against a share price of $1.19.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Smartrent, Inc.'s trailing-twelve-month revenue fell 2.8% year on year, with a free-cash-flow margin of -0.7%. Where it stands out: change in growth rate of +6.9pp ranks 28 of 184 application software companies we cover. Where it lags: revenue growth of -2.8% ranks 160 of 184 application software companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 97.8% while net income grew 72.9%: a 25pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 35.0 points on a year ago.
  • Shrinking share count. Diluted shares fell 1.4% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 2.8% over the last 12 months.
  • Loss-making. Operating margin is -14.9%: costs exceed revenue.
  • Burning cash. Free cash flow was -0.7% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 60% and a beta of 1.3 against the S&P 500.
  • Below peers: gross margin. Gross margin of 36.4% ranks 135 of 160 application software companies we cover (median 69.8%).
  • Below peers: days sales outstanding. Days sales outstanding of 92 days ranks 128 of 162 application software companies we cover (median 57 days).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
-$0.00 against an average estimate of -$0.01: beat by 14.0%
Revenue
$40m, up 4.0% on a year earlier
Share reaction
+30.5% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 4, 2026; average EPS estimate -$0.01

Smartrent's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week+7.8%
  • 1 month+15.0%
  • This year-31.7%
  • 1 year-0.7%
  • 5 years-90.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$151M
Operating margin
-14.9%
Net margin
-13.0%
EPS (TTM, diluted)
$-0.10

Growth

Revenue growth
−2.8%
Change in growth rate
+6.9 pts
Share count change
−1.4%

Cash

Free cash flow (TTM)
-$1.1M
FCF margin
-0.7%
Stock pay % of revenue
6.7%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Announcement
  4. Results
  5. Announcement
  6. Partnership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Smartrent, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Smartrent, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.08 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.0 ~$0.7–$1.1 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.3 ~$1.9–$5.3 Left out: far from the other models (more than 3x away from their median)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$1.3 ~$1.3–$1.6 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.1 ~$1.0–$1.3 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Smartrent, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$9.68$2.43$3.19$1.75$2.02$1.38
Market value$723m$475m$640m$349m$383m$263m
+ Net debt (− = net cash)−$427m−$210m−$215m−$142m−$105m−$93m
Enterprise value$296m$265m$425m$206m$279m$170m
Multiples
Price / sales 6.5x2.8x2.7x2.0x2.5x1.7x
Price / earnings ——————
Price / free cash flow ——109.7x———
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

0 /100

Weak moat

How hard Smartrent's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -9.0% of total assets over 5 years.

  • Pricing power 0 / 20

    Gross margin has been a median 21.3%, moving by 18.1 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -43.4%; its worst year was -72.0%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 5 years, at a median -28.7% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (16 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $40m and EPS of −$0.01 (range −$0.01 to $0.00) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.03 +76% $161m +6%
Next −$0.00 +88% $188m +17%

Next year's EPS estimate has moved −166.6% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −23.8% on 90 days ago. In the last 30 days, 0 analysts raised Smartrent, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Smartrent, Inc., last 90 days
−$0.04 −$0.03 −$0.02 −$0.01 $0.00 $0.01 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.04 Current fiscal year, 60 days ago: −$0.03 Current fiscal year, 30 days ago: −$0.03 Current fiscal year, 7 days ago: −$0.03 Current fiscal year, Now: −$0.03 −$0.03 Next fiscal year, 90 days ago: $0.01 Next fiscal year, 60 days ago: −$0.01 Next fiscal year, 30 days ago: −$0.01 Next fiscal year, 7 days ago: −$0.01 Next fiscal year, Now: −$0.00 −$0.00

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.04$0.01
60 days ago −$0.03−$0.01
30 days ago −$0.03−$0.01
7 days ago −$0.03−$0.01
Now −$0.03−$0.00

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.01 −$0.00 +14.0%
Mar 2026 −$0.01 −$0.02 −118.0%
Dec 2025 −$0.01 −$0.01 +39.0%
Sept 2025 −$0.04 −$0.03 +15.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026

No numeric guidance in Smartrent, Inc.'s latest earnings release (filed August 5, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

3 analysts, Nov 2026
Buy133%
Hold267%
Sell00%

Monthly trend

  1. Nov 2026123
  2. Oct 202622

Counts of recommendations published by analysts covering Smartrent, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.5%
of tradable shares
Days to cover
12.59
at average volume
Short interest, 1 month
−3%
to October 15, 2026
Held by institutions
65%
of shares
Held by insiders
13.0%
of shares
Employees
418
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −0.7%

$1.39 on October 31, 2025 to $1.38

ThenNowEffect
Revenue (last 12 months) $156m $151m −2.8%
P/S multiple 1.7x 1.7x +0.7%
Share count 193m 190m +1.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −48.1%

$2.66 on November 3, 2023 to $1.38

ThenNowEffect
Revenue (last 12 months) $207m $151m −26.8%
P/S multiple 2.5x 1.7x −31.7%
Share count 198m 190m +3.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
SMRT−75%+31%−45%+15%−32%
Industry peers (median)−50%+19%+2%−21%−14%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
SMRT25%58%33%42%27%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
SMRT−79%−41%−59%−60%−53%
S&P 500−25%−10%−8%−19%−9%

Worst fall since August 25, 2021: 95% from September 3, 2021 to April 15, 2025. Getting back needed a 1853% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.95 – $2.12
From 52-week high
−34.9%
vs 50-day average
+11.5%
vs 200-day average
+3.0%
Volatility (1 year)
60%
Beta vs S&P 500
1.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±15.1%
After a week
4 up, 8 down
typical move ±20.4%
After a month
6 up, 6 down
typical move ±19.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +30.5% −0.4% +38.1% +26.7%
May 6, 2026 −20.3% +1.1% −22.4% −23.1%
March 4, 2026 +13.6% +0.1% +21.4% −1.3%
February 5, 2026 +5.4% +0.6% −3.0% +7.2%
November 5, 2025 +9.6% −0.7% +10.4% +45.9%
August 6, 2025 +18.7% +0.7% +37.9% +48.1%
May 7, 2025 −2.2% +1.1% −12.2% +1.8%
April 10, 2025 −34.4% −2.7% −31.1% −29.8%
March 5, 2025 −0.8% −0.7% −8.7% −15.7%
November 6, 2024 −14.2% +3.3% −15.9% +4.5%
August 7, 2024 −7.9% +1.6% −12.7% −2.4%
July 30, 2024 −23.3% +1.1% −31.2% −29.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Smartrent, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Smartrent, Inc.
$100M $150M $200M $250M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $217.1M Revenue (TTM), FY23 Q4: $236.8M Revenue (TTM), FY24 Q1: $222.2M Revenue (TTM), FY24 Q2: $217.4M Revenue (TTM), FY24 Q3: $199.8M Revenue (TTM), FY24 Q4: $174.9M Revenue (TTM), FY25 Q1: $165.7M Revenue (TTM), FY25 Q2: $155.5M Revenue (TTM), FY25 Q3: $151.2M Revenue (TTM), FY25 Q4: $152.3M Revenue (TTM), FY26 Q1: $149.7M Revenue (TTM), FY26 Q2: $151.2M $151.2M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $217.1M
FY23 Q4 $236.8M
FY24 Q1 $222.2M
FY24 Q2 $217.4M
FY24 Q3 $199.8M
FY24 Q4 $174.9M
FY25 Q1 $165.7M
FY25 Q2 $155.5M
FY25 Q3 $151.2M
FY25 Q4 $152.3M
FY26 Q1 $149.7M
FY26 Q2 $151.2M
Revenue growth, TTM YoY Smartrent, Inc.
-40% -20% 0% 20% 40% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 34.1% Revenue growth, TTM YoY, FY23 Q4: 41.1% Revenue growth, TTM YoY, FY24 Q1: 13.7% Revenue growth, TTM YoY, FY24 Q2: 5.2% Revenue growth, TTM YoY, FY24 Q3: -8.0% Revenue growth, TTM YoY, FY24 Q4: -26.2% Revenue growth, TTM YoY, FY25 Q1: -25.4% Revenue growth, TTM YoY, FY25 Q2: -28.4% Revenue growth, TTM YoY, FY25 Q3: -24.3% Revenue growth, TTM YoY, FY25 Q4: -12.9% Revenue growth, TTM YoY, FY26 Q1: -9.7% Revenue growth, TTM YoY, FY26 Q2: -2.8% -2.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 34.1%
FY23 Q4 41.1%
FY24 Q1 13.7%
FY24 Q2 5.2%
FY24 Q3 -8.0%
FY24 Q4 -26.2%
FY25 Q1 -25.4%
FY25 Q2 -28.4%
FY25 Q3 -24.3%
FY25 Q4 -12.9%
FY26 Q1 -9.7%
FY26 Q2 -2.8%
Operating margin (TTM) Smartrent, Inc.
-60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -27.4% Operating margin (TTM), FY23 Q4: -18.2% Operating margin (TTM), FY24 Q1: -17.1% Operating margin (TTM), FY24 Q2: -15.1% Operating margin (TTM), FY24 Q3: -17.3% Operating margin (TTM), FY24 Q4: -23.9% Operating margin (TTM), FY25 Q1: -44.0% Operating margin (TTM), FY25 Q2: -49.9% Operating margin (TTM), FY25 Q3: -48.2% Operating margin (TTM), FY25 Q4: -42.0% Operating margin (TTM), FY26 Q1: -18.6% Operating margin (TTM), FY26 Q2: -14.9% -14.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -27.4%
FY23 Q4 -18.2%
FY24 Q1 -17.1%
FY24 Q2 -15.1%
FY24 Q3 -17.3%
FY24 Q4 -23.9%
FY25 Q1 -44.0%
FY25 Q2 -49.9%
FY25 Q3 -48.2%
FY25 Q4 -42.0%
FY26 Q1 -18.6%
FY26 Q2 -14.9%
FCF margin (TTM) Smartrent, Inc.
-40% -30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -0.1% FCF margin (TTM), FY23 Q4: 2.5% FCF margin (TTM), FY24 Q1: 5.8% FCF margin (TTM), FY24 Q2: 1.9% FCF margin (TTM), FY24 Q3: -7.1% FCF margin (TTM), FY24 Q4: -19.8% FCF margin (TTM), FY25 Q1: -27.5% FCF margin (TTM), FY25 Q2: -30.7% FCF margin (TTM), FY25 Q3: -30.4% FCF margin (TTM), FY25 Q4: -16.5% FCF margin (TTM), FY26 Q1: -10.3% FCF margin (TTM), FY26 Q2: -0.7% -0.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -0.1%
FY23 Q4 2.5%
FY24 Q1 5.8%
FY24 Q2 1.9%
FY24 Q3 -7.1%
FY24 Q4 -19.8%
FY25 Q1 -27.5%
FY25 Q2 -30.7%
FY25 Q3 -30.4%
FY25 Q4 -16.5%
FY26 Q1 -10.3%
FY26 Q2 -0.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 53 111 168 237 175 152 151
Gross profit −4 −10 1 50 60 50 55
EBITDA −35 −71 −100 −38 −35 −56 −14
Operating income −36 −72 −104 −43 −42 −64 −23
Net income −37 −72 −96 −35 −34 −61 −20
Diluted EPS −$4.32 −$0.96 −$0.49 −$0.17 −$0.17 −$0.32 −$0.10
Growth (year on year)
Revenue — +110.6% +51.7% +41.1% −26.2% −12.9% −2.8%
Margins
Gross margin −8.2% −9.1% 0.8% 20.9% 34.5% 32.7% 36.4%
EBITDA margin −67.4% −64.3% −59.6% −15.9% −20.2% −36.5% −9.0%
Operating margin −68.0% −64.8% −62.1% −18.2% −23.9% −42.0% −14.9%
Net margin −70.6% −65.0% −57.4% −14.6% −19.2% −39.8% −13.0%
Free-cash-flow margin −54.8% −64.9% −47.0% 2.5% −19.8% −16.5% −0.7%
Cash flow
Cash from operations −28 −70 −78 6 −33 −22 −1
Capital spending 0 1 1 0 2 4 0
Free cash flow −29 −72 −79 6 −35 −25 −1
Stock-based pay 1 7 13 13 12 9 10
Free cash flow after stock pay −30 −79 −92 −7 −47 −34 −11
Balance sheet
Cash 39 431 210 215 142 105 93
Total debt 5 4 0 0 0 0 0
Net debt (negative = net cash) −34 −427 −210 −215 −142 −105 −93
Diluted shares — 75m 196m 201m 199m 190m 190m
Returned to shareholders
Buybacks — — — — 29 5 —
Total returned — — — — 29 5 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $294m
Short-term assets $162mLonger-term assets $131m
What it owes, and who funded it · $294m
Short-term liabilities $43mLonger-term liabilities $26mShareholders' equity $225m
  • Short-term assets cover short-term liabilities $162m of assets due within a year against $43m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $162m short-term assets against $26m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Smartrent, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$4.9M
Returned to shareholders
-19%
of free cash flow
Diluted share count
−1.4%
year over year
Total shareholder yield
1.9%
dividends 0.0% + buybacks 1.9% of market value
R&D spending
15.4%
of revenue
Days sales outstanding
92 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated SMRT STEM LGCL BBAI API EXFY Median
Revenue, last 12 months $151m $148m $145m $142m $141m $138m $482m
Revenue growth, last 12 months −2.8% −5.1% −1.9% −1.5% 5.9% −4.3% 12.0%
Revenue growth, 3-year average −9.9% −29.1% — −2.9% — −5.8% 11.1%
Revenue growth, latest quarter 4.0% −12.3% — 31.5% — −5.3% 11.9%
Gross margin 36.4% 41.5% 33.8% 30.2% 66.4% 48.7% 69.2%
Operating margin −14.9% −29.1% 1.9% −164.2% −6.7% −8.0% 1.1%
Operating margin, 3-year average −26.7% −127.3% — −116.2% — −10.6% −0.8%
Net margin −13.0% −49.4% 0.9% −126.8% 6.8% −11.3% 2.1%
Cash from operations / revenue −0.5% 7.9% 3.4% −50.4% 19.3% 9.1% 18.2%
Free-cash-flow margin −0.7% 7.9% −4.6% −51.2% 18.1% 9.1% 15.0%
Free-cash-flow margin, 3-year average −9.8% −7.1% — −30.3% — 10.8% 16.2%
Stock pay / revenue 6.7% 5.4% — 13.4% 3.9% 18.0% 9.3%
Change in share count −1.4% — 21.6% 45.2% 6.0% 3.6% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth -2.8% 12.0% 160 of 184
Change in growth rate Growth +6.9pp +0.2pp 28 of 184
Gross margin Profitability 36.4% 69.8% 135 of 160
Operating margin Profitability -14.9% 1.1% 128 of 181
Net margin Profitability -13.0% 2.1% 125 of 185
Free-cash-flow margin Cash generation -0.7% 15.2% 128 of 180
Stock pay as % of revenue Cash generation 6.7% 9.3% 57 of 177
Change in share count Balance sheet -1.4% 1.7% 50 of 163
Days sales outstanding Balance sheet 92 days 57 days 128 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Reportable Segment Aggregation Before Other Operating $152M 100.0% ▼ 12.9%
Smart Apartments $128M 83.7% ▼ 12.2%
Smart Operations Solutions $10.7M 7.0% ▼ 6.3%
Access Control $7.4M 4.9% ▼ 5.8%
Other Smart Communities Solutions $5.4M 3.6% ▼ 35.4%
Community Wifi $1.3M 0.8% ▼ 36.3%
Products and services
Line of business Revenue YoY
Hosted Services $73.2M 0.0%
Hardware $58M ▼ 30.0%
Hardware Service $58M ▼ 30.0%
Professional Services $21.1M ▲ 12.4%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $152M 99.9% ▼ 12.1%
Outside the US $161,000 0.1% ▼ 90.4%

From Smartrent, Inc.'s 10-K filed March 4, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$148M
Institutions reporting
129
Shares held vs prior quarter
▲ 2.8%
Positions opened / closed
32 / 25

Top buyers and sellers, Q2 2026: 68 institutions bought and 60 sold ; the biggest buyer was Blackrock, Inc (+8.7M shares) and the biggest seller Bank Of America Corp (−5.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Citigroup Inc $19M 16.0M 12.8% ▲ 0.5%
Blackrock, Inc. $13.6M 11.4M 9.2% ▲ 314.5%
Oaktree Capital Management LP $8.9M 7.5M 6.0% 0.0%
Vanguard Capital Management LLC $8.3M 7.0M 5.6% ▼ 0.2%
Dimension Capital Management LLC $7.1M 6.0M 4.8% ▲ 415.3%
Blue Door Asset Management, LLC $7.1M 5.9M 4.8% 0.0%
Long Pond Capital, LP $6.7M 5.6M 4.5% 0.0%
UBS Group AG $6.6M 5.5M 4.4% ▼ 17.4%
Vanguard Portfolio Management LLC $6.5M 5.5M 4.4% ▲ 29.8%
Punch & Associates Investment Management, Inc. $6.3M 5.3M 4.2% ▲ 5.2%
Geode Capital Management, LLC $5.3M 4.5M 3.6% ▲ 124.0%
Tikvah Management LLC $4M 3.3M 2.7% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Smartrent, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $2.3M 28 trades by 4 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $2.3M net buying
Insider Date Trade Shares Price Value
Bohjalian Thomas N Director August 20, 2026 Buy 15,000 $1.36 $20,475
Bohjalian Thomas N Director August 19, 2026 Buy 40,000 $1.40 $55,920
Pinczuk Ana G. Director August 11, 2026 Buy 107,000 $1.43 $152,625
Martell Frank Chief Executive Officer August 11, 2026 Buy 100,000 $1.42 $142,260
Bohjalian Thomas N Director August 11, 2026 Buy 5,000 $1.34 $6,700
Bohjalian Thomas N Director June 10, 2026 Buy 75,000 $1.11 $83,250
Martell Frank Chief Executive Officer June 5, 2026 Buy 40,260 $1.13 $45,353
Martell Frank Chief Executive Officer June 4, 2026 Buy 20,000 $1.19 $23,728
Ponathil Sangeeth Chief Information Officer May 26, 2026 Buy 10,000 $1.25 $12,500
Martell Frank Chief Executive Officer May 12, 2026 Buy 100,000 $1.18 $117,850
Martell Frank Chief Executive Officer May 8, 2026 Buy 50,000 $1.12 $56,220
Bohjalian Thomas N Director March 12, 2026 Buy 150,000 $1.74 $260,490

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 21, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • March 4, 2026
  • February 5, 2026
  • November 5, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Smartrent, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Smartrent, Inc. in brief

What does Smartrent, Inc. do?
Smartrent, Inc. is a US-listed company in the application software industry. Its financial year ends in December.
What is Smartrent, Inc.'s stock ticker?
Smartrent, Inc. trades under the ticker SMRT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Smartrent, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Smartrent, Inc. reported revenue of $151M, 2.8% lower than a year earlier, according to its SEC filings.
What is Smartrent, Inc.'s free cash flow?
Smartrent, Inc.'s free-cash-flow margin is -0.7% of revenue over the trailing twelve months, ranking 128 of the 180 application software companies we cover.
Who are Smartrent, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Citigroup Inc, Blackrock, Inc. and Oaktree Capital Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Smartrent, Inc. buying back stock, and does it pay a dividend?
Smartrent, Inc. spent $4.9M on share repurchases over the trailing twelve months, and its diluted share count fell 1.4% over the year.
What is Smartrent, Inc.'s market cap?
On November 2, 2026, Smartrent, Inc.'s market capitalisation was about $263M and net debt of -$92.7M. Market figures come from third-party market data and may be delayed.
Who are Smartrent, Inc.'s competitors?
In our Application Software peer group, the companies closest to Smartrent, Inc. are Stem, Inc., Lucas GC Ltd, Bigbear.ai Holdings, Inc., Agora, Inc. and Expensify, Inc. The side-by-side comparison below sets their revenue, margins and growth against Smartrent, Inc.'s.
Are insiders buying or selling Smartrent, Inc. stock?
Over the last 12 months, Smartrent, Inc.'s directors and officers reported 28 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Smartrent, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Smartrent, Inc. announces its own schedule.