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SmartRent ( (SMRT) ) has provided an update.
On May 6, 2026, SmartRent reported first-quarter 2026 results showing a 6% year-over-year decline in total revenue to $38.7 million, largely due to tougher hardware and non-cash hub amortization comparisons, while core revenue held flat at $36.6 million and ARR rose 9% to $60.9 million, or 39% of revenue. The company posted its second consecutive quarter of positive adjusted EBITDA at $0.4 million, sharply narrowed its net loss to $4.4 million on substantial cost reductions, expanded gross margin to 39.1%, and grew deployed units 10% to 911,244, underscoring a shift toward higher-margin recurring software revenue and improved operating discipline despite a softer hardware cycle and cautious rental housing capital spending.
Management highlighted that SaaS revenue increased 9% with SaaS gross margin reaching 74.5%, professional services swung from a gross loss to a modest profit after structural cost changes, and operating expenses fell 32% year over year, helping the business edge toward sustained profitability. SmartRent ended the quarter with $99 million in cash, no debt and an undrawn $75 million credit facility, positioning it to keep investing in its go-to-market team, deepen relationships with large accounts and expand into the small and medium rental segment via a new reseller program, even as unit bookings dipped 9% amid a deliberate spending environment among housing operators.
The most recent analyst rating on (SMRT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on SmartRent stock, see the SMRT Stock Forecast page.
Spark’s Take on SMRT Stock
According to Spark, TipRanks’ AI Analyst, SMRT is a Neutral.
The score is held back mainly by weak financial performance (persistent losses and inconsistent cash generation) and limited valuation support due to negative earnings. Offsetting factors include a relatively strong balance sheet and a more constructive earnings-call outlook pointing to margin/expense improvements and targeted profitability and free-cash-flow positivity in 2026, while technicals are modestly supportive but not strongly bullish.
To see Spark’s full report on SMRT stock, click here.
More about SmartRent
SmartRent, Inc. is a Phoenix-based provider of smart community and operations technology for the rental housing industry, offering a platform that combines SaaS, hardware and professional services for property owners and operators. With more than 600 customers and over 900,000 units deployed, the company focuses on driving operational efficiency and ROI across multifamily and other rental housing segments.
Average Trading Volume: 872,486
Technical Sentiment Signal: Strong Sell
Current Market Cap: $267.2M
For a thorough assessment of SMRT stock, go to TipRanks’ Stock Analysis page.