SmartRent Q2 Revenue Beats, Loss Narrows as Professional Services Double
SMRT sits 22% above its 52-week low of $0.9.
Summary
SmartRent delivered a solid Q2: revenue of $39.8M edged past the $39.62M consensus, core revenue jumped 14% YoY, and professional services revenue doubled on hardware refresh and access control demand. Adjusted EBITDA turned positive, net loss shrank 48% to $5.6M, and gross margin expanded 760 bps. The company repurchased 2.8M shares and boosted its buyback authorization to $25M. Management expects H2 2026 core revenue and profitability to exceed H2 2025 levels and projects surpassing 1M installed units by mid-2027. This follows a July partnership with Hexaware for AI-driven operational improvements. The results show accelerating momentum in the core business and improving unit economics, though the stock remains at $1.10 with a $202M market cap.
At the time of this announcement, SMRT was trading at $1.10 on NYSE in the Technology sector, with a market capitalization of approximately $202.5M. The 52-week trading range was $0.90 to $2.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.