SmartRent, Inc. (SMRT)

SmartRent, Inc., an enterprise real estate technology company, provides management software and applications to rental property owners and operators, property managers, homebuilders, developers, and residents in the United States and internationally. Its smart building hardware and cloud-based software-as-a-service solutions are designed to enhance visibility and control their real estate assets while providing all-in-one home control offerings for residents. The company's products and solutions include smart apartments and homes, access control for buildings, common areas, rental units, community and resident Wi-Fi, asset protection and monitoring, and self-guided tours. It also offers professional services to customers, which include training, installation, and support services. The company was founded in 2017 and is headquartered in Phoenix, Arizona.

Ticker: SMRT
Exchange: NYSE
Sector: Technology
Industry: Software - Application
Market cap: $301.70M
52-week range: $0.90 - $2.20

Valuation

Share price: $1.59 (close of Nov 6, 2026)
P/E (TTM): -17.67x
Price to book: 1.37x
Price to free cash flow: 79.06x
Enterprise value: $217.51M
Book value per share: $1.16

Price performance

Period	Change
1 day	-1.24%
5 days	+17.78%
1 month	+32.50%
3 months	+16.06%
6 months	+35.90%
Year to date	-21.29%
1 year	+7.43%
3 years	-38.61%
5 years	-88.25%
All time	-86.75%

Short interest

As of: Oct 15, 2026
Short % of float: 4.53%
Shares short: 8.42M
Days to cover: 15.90
Change since prior report: +1.54%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -26.09%
Return on invested capital: -26.89%
Return on assets: -18.87%
Return on capital employed: -24.52%
Gross margin: 32.74%
Net margin: -39.76%
EBITDA margin: -36.47%
Revenue growth: -12.90%

Cash flow and balance sheet

Free cash flow yield (TTM): 1.26%
Current ratio: 3.55x
Net debt to EBITDA: 2.79x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $152.33M
Cost of revenue: $102.46M
Gross profit: $49.87M
EBITDA: -$55.55M
Net income: -$60.56M
Earnings per share: $-0.32
Research and development: $26.22M
Interest expense: $378.00K
Shares outstanding: 189.68M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$152.33M	$49.87M	-$60.56M	-$0.32
2024-12-31	$174.88M	$60.34M	-$33.64M	-$0.17
2023-12-31	$236.84M	$49.53M	-$34.59M	-$0.17
2022-12-31	$167.82M	$1.35M	-$96.32M	-$0.49
2021-12-31	$110.64M	-$10.07M	-$71.96M	-$0.96
2020-12-31	$52.53M	-$4.30M	-$37.11M	-$4.32
2019-12-31	$36.23M	-$1.06M	-$33.47M	-

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	32.74%	-39.76%	-26.09%	-26.89%
2024-12-31	34.50%	-19.24%	-11.62%	-14.09%
2023-12-31	20.91%	-14.60%	-10.10%	-12.52%
2022-12-31	0.80%	-57.40%	-26.45%	-26.82%
2021-12-31	-9.10%	-65.04%	-16.01%	-15.83%
2020-12-31	-8.18%	-70.64%	-	-
2019-12-31	-2.92%	-92.37%	-	-

Cash and debt by year

Period end	Cash
2025-12-31	$104.55M
2024-12-31	$142.48M
2023-12-31	$215.21M
2022-12-31	$210.41M
2021-12-31	$430.84M
2020-12-31	$38.62M
2019-12-31	$21.42M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	-$25.13M	$8.78M
2024-12-31	-$34.68M	$12.07M
2023-12-31	$5.83M	$13.16M
2022-12-31	-$78.95M	$12.90M
2021-12-31	-$71.85M	$7.32M
2020-12-31	-$28.79M	$1.05M
2019-12-31	-$22.63M	-

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-04	Sep 2026	-$0.02
2026-08-05	Jun 2026	-$0.02
2026-05-06	Mar 2026	-$0.02
2026-03-04	Dec 2025	-$0.02
2025-11-05	Sep 2025	-$0.06
2025-08-06	Jun 2025	-$0.04
2025-05-07	Mar 2025	-$0.02
2025-03-05	Dec 2024	-$0.04

Filings and sources

Company website: smartrent.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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