Smartrent, Inc. (SMRT)
NYSE:SMRT
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Earnings Data
Report Date
Aug 12, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.02Last Year’s EPS
-0.06Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed meaningful operational and financial improvement: margin expansion (+630 bps), a 32% reduction in operating expenses, positive adjusted EBITDA for the second consecutive quarter, improved net loss versus prior year, and a strong cash position with no debt. These positives were balanced against near-term top-line pressure: total revenue down 6% YoY, hardware revenue down 18%, bookings down 9%, and headwinds from declining non-cash hub amortization and Smart Operations churn. Management emphasized that many headwinds are timing/ramp related (sales hires, contract renewals, hardware refresh planning) and reiterated medium-term targets (double-digit IoT growth, March-to-1M, ARR expansion, full-year adjusted EBITDA and free cash flow positivity). Overall, operational recovery and margin gains outweigh the near-term revenue and bookings softness, with the caveat that execution on sales ramp and VAR contributions will be critical.Company Guidance
IoT Footprint Growth
Installed IoT units grew 10% year over year to over 911,000 units (deployed across ~3,500 properties and 3M devices). Company reiterated target to eclipse 1,000,000 units in 2027 and emphasized large white-space opportunity within existing customers (only ~15% penetration of ~6M addressable units).
Gross Profit and Margin Expansion
Total gross profit was $15.1 million and gross margin improved 630 basis points year over year to 39.1%, driven by a 15% reduction in cost of sales and a more favorable revenue mix as SaaS became a larger share of revenue.
Operating Expense Reduction & Improved Cost Discipline
Operating expenses declined 32% year over year to $20.2 million from $29.9 million, reflecting 2025 cost-alignment actions and elimination of one-time legal costs; company is selectively reinvesting in GTM hiring.
Adjusted EBITDA Turnaround
Adjusted EBITDA was positive at approximately $0.4 million in Q1 — the second consecutive quarter of positive adjusted EBITDA (vs. a $6.4 million adjusted EBITDA loss in the prior-year quarter).
Net Loss Improvement and Removal of Non-Cash Charge
GAAP net loss improved from $40.2 million in Q1 2025 to $4.4 million in Q1 2026. Excluding the prior-year $24.9 million goodwill impairment, operational net loss improved from $15.3 million to $4.4 million year over year.
Strong Cash Position and No Debt
Cash ended the quarter at $99 million with no debt and an undrawn $75 million credit facility. Cash decreased seasonally by ~$6 million from year-end ($105 million), driven by expected annual incentive payments.
Professional Services Turnaround
Professional services revenue rose 55% year over year to $6.0 million and professional services gross profit improved from a $3.4 million loss in the prior-year quarter to approximately breakeven in Q1 2026 (third consecutive quarter of positive professional services margins).
Core Revenue Stability Excluding Non-Cash Items
Total revenue was $38.7 million (-6% YoY), but excluding non-cash hub amortization core revenue was $36.6 million, essentially flat versus prior-year quarter ($36.7 million), indicating underlying volume stability.
ARR and SaaS Growth (as reported)
Management reported ARR growth of 9% year over year and stated SaaS revenue was up 9% year over year. (Transcript figures: ARR +9% to $1M stated; SaaS revenue reported at $0.2M and described as 39% of total revenue in remarks.)
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 |
|---|---|---|---|
May 06, 2026 | $1.43 | $1.17 | -18.18% |
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% |
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, Inc. (SMRT) report earnings?
Smartrent, Inc. (SMRT) is schdueled to report earning on Aug 12, 2026, Before Open (Confirmed).
What is Smartrent, Inc. (SMRT) earnings time?
Smartrent, Inc. (SMRT) earnings time is at Aug 12, 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?
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What is SMRT EPS forecast?
SMRT EPS forecast for the fiscal quarter 2026 (Q2) is -0.02.