SmartRent Inc
NYSE:SMRT
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SmartRent Inc
NYSE:SMRT
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SmartRent Inc
SmartRent, Inc. is an enterprise smart home automation company developing software and hardware that empowers property owners, managers and homebuilders to effectively manage, protect and automate daily operational processes. The company is headquartered in Scottsdale, Arizona and currently employs 639 full-time employees. The company went IPO on 2021-02-05. I, is an enterprise software company. The company provides an integrated smart home operating system to residential property owners and operators, as well as homebuilders, institutional home buyers (iBuyers), developers and residents. Through a central connected device, SmartHub, it integrates its enterprise software with third-party smart devices and other technology interfaces, which allows owners, operators, and residents to manage their smart home systems through a single connected interface. Its products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident wireless fidelity (Wi-Fi). The company offers cloud-based software as a service (SaaS) solutions platform that automates communications, resident engagement, field services and maintenance workflow, due diligence, and audit management.
SmartRent, Inc. is an enterprise smart home automation company developing software and hardware that empowers property owners, managers and homebuilders to effectively manage, protect and automate daily operational processes. The company is headquartered in Scottsdale, Arizona and currently employs 639 full-time employees. The company went IPO on 2021-02-05. I, is an enterprise software company. The company provides an integrated smart home operating system to residential property owners and operators, as well as homebuilders, institutional home buyers (iBuyers), developers and residents. Through a central connected device, SmartHub, it integrates its enterprise software with third-party smart devices and other technology interfaces, which allows owners, operators, and residents to manage their smart home systems through a single connected interface. Its products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident wireless fidelity (Wi-Fi). The company offers cloud-based software as a service (SaaS) solutions platform that automates communications, resident engagement, field services and maintenance workflow, due diligence, and audit management.
Revenue: Q4 total revenue was $36.5 million, up ~3% year-over-year — the company's first YoY revenue growth in seven quarters.
Recurring Mix: ARR grew to just under $62 million and now represents ~40% of total revenue; management expects double-digit ARR growth in 2026.
Profitability: Q4 net loss improved to $3.2 million (from $11.4 million prior year) and adjusted EBITDA was roughly $200,000 positive for the quarter; full-year adjusted EBITDA remained a loss of $16.4 million.
Margins: Q4 gross margin expanded to 38.6% (up ~990 bps YoY); hosted services gross margin was 75.7% and professional services reached approximately breakeven in Q4.
Cost Actions & Cash: Operating expenses were down 22% YoY in Q4 to $18.0 million; company ended the year with ~$105 million in cash and no drawn debt on its $75 million facility.
Hardware / Hub Amortization: Hub amortization was $2.7 million in Q4 (down from $5.2 million prior-year quarter) and is expected to decline to less than $5 million in 2026.
Strategy: Management introduced 'Vision 2028' targeting double-digit CAGR in installed units to >1.2 million units by end of 2028 and a near-term objective of reaching 1 million installed units within 4–5 quarters.
