SmartRent Inc
NYSE:SMRT
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 Decline: Total revenue in Q3 2025 was $36.2 million, down 11% year-over-year due to a strategic shift away from bulk hardware sales.
SaaS Growth: SaaS revenue grew 7% year-over-year to $14.2 million, now representing 39% of total revenue, up from 33% last year.
Cost Reduction: Operating expenses dropped 34% year-over-year, driven by a completed $30 million cost reduction program.
Profitability Progress: Adjusted EBITDA loss narrowed significantly to $2.9 million in Q3 from $7.4 million in Q2, and net loss improved by 36% year-over-year.
Strong Cash Position: The company ended Q3 with $100 million in cash and no debt, and net cash burn improved by 79% year-over-year.
Installed Base Expansion: Installed units grew 11% year-over-year to 870,000, with 22,000 new units deployed in the quarter.
Positive Outlook: Management expects to achieve adjusted EBITDA and cash flow neutrality by the end of 2025 and sees more stable and sustainable growth ahead.
