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SmartRent (SMRT)
NYSE:SMRT
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.02Last Year’s EPS
-0.21Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a constructive operational turnaround: Q4 delivered the first YoY revenue growth in seven quarters, meaningful gross margin expansion, reduced operating expenses and a move to positive adjusted EBITDA on a run-rate basis, supported by a strong liquidity position (~$105M cash). Management laid out a clear Vision 2028 with aggressive scale targets (1M installed units in 4–5 quarters; >1.2M by 2028) and expects full-year 2026 adjusted EBITDA and free cash flow positivity. Key risks include a full-year revenue decline in 2025 (-13%), a larger full-year adjusted EBITDA loss, decreasing non-cash hub amortization (which changes revenue mix), deployment timing variability, and some pressure in units-booked ARPU in the quarter. Overall, the operational improvements, cost savings (> $30M annualized), strong cash position, and trajectory toward profitable growth outweigh the near-term mix and timing headwinds.Company Guidance
Return to Year-over-Year Revenue Growth
Q4 total revenue of $36.5M, up ~3% YoY (first YoY growth in seven quarters). Core revenue (total less hub amortization) grew ~12% YoY in Q4 to ~$33.8M, indicating underlying business momentum.
SaaS and ARR Expansion
Full-year SaaS revenue grew ~12% to $57.8M; Q4 SaaS revenue was $15.4M (CEO noted SaaS revenue growth of 13%). ARR grew to just under $62M, representing ~40% of total revenue, and management expects double-digit ARR growth in 2026.
Margin Improvement
Total gross margin expanded ~990 basis points YoY to 38.6% in Q4. Hosted services gross margin rose to 75.7%. Professional services reached approximately breakeven gross margin in Q4 (second consecutive quarter of profitability).
Operating Expense Reductions and Cost Savings
Operating expenses were down 22% YoY in Q4 (Q4 op ex $18M) and down 13% for the full year ($88.9M), following a cost-structure reset that yielded annualized cost savings of over $30M.
Improved Profitability Run-Rates
Adjusted EBITDA improved 103% in Q4 to a small profit of approximately $200K (from a $7.4M loss prior-year quarter). Q4 net loss improved to $3.2M from $11.4M YoY; full-year net loss narrowed to $0.6M from $33.6M the prior year.
Strong Liquidity Position and Cash Flow Progress
Ended the year with approximately $105M in cash and no outstanding borrowings under the $75M credit facility; cash increased by $4.5M in Q4 and the company achieved cash flow neutrality on a run-rate basis exiting the year and expects to be cash flow positive on an annual basis despite seasonality.
Clear Strategic Roadmap and Scale Targets (Vision 2028)
Management announced Vision 2028: targeting a march to 1,000,000 installed units in 4–5 quarters and a double-digit CAGR in installed base through 2028 to exceed ~1.2M units by end of 2028; current footprint includes ~890,000 rental units, maintenance/leasing solutions supporting >1.2M units, and >3,000,000 connected devices.
Hardware and Core Revenue Momentum
Q4 hardware revenue increased 20% YoY to $12.5M. Management highlighted that expanded hardware footprint will drive higher software attach and higher-margin software revenue over time.
SMRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SMRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $1.54 | $1.79 | +16.23% |
Nov 05, 2025 | $1.35 | $1.40 | +3.70% |
Aug 06, 2025 | $0.98 | $1.14 | +16.33% |
May 07, 2025 | $0.90 | $0.93 | +3.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does SmartRent (SMRT) report earnings?
SmartRent (SMRT) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is SmartRent (SMRT) earnings time?
SmartRent (SMRT) earnings time is at May 13, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SMRT EPS forecast?
SMRT EPS forecast for the fiscal quarter 2026 (Q1) is -0.02.