Home technology firm SmartRent posts smaller Q3 net loss on cost reductions

SmartRent

05/11/2025 13:09

Overview

SmartRent Q3 revenue fell 11% yr/yr, missing analyst expectations

Net loss improved by $3.6 mln to $(6.3) mln due to cost reductions

Company completed $30 mln cost reduction program, maintaining strong liquidity

Outlook

SmartRent expects cash flow neutrality by end of 2025

Company anticipates strong liquidity to support growth

SmartRent plans to expand installed base leveraging AI

Result Drivers

COST REDUCTION - SmartRent completed a $30 mln cost reduction program, improving net loss and adjusted EBITDA

REVENUE DECLINE - Revenue fell 11% due to strategic shift away from bulk hardware sales

SaaS GROWTH - SaaS revenue increased 7% driven by more units deployed

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$36.20 mln
$36.27 mln (2 Analysts)
Q3 EPS
-$0.03
Q3 Net Income
-$6.30 mln
Q3 Operating Expenses
$16.60 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the integrated hardware & software peer group is "buy."

Wall Street's median 12-month price target for SmartRent Inc is $1.60, about 15.6% above its November 4 closing price of $1.35

Press Release: ID:nBw7pRR7da

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)