SmartRent Q1 revenue falls 6%

SmartRent

06/05/2026 13:11

Overview

Smart community solutions provider's Q1 revenue fell 6% yr/yr due to lower hardware sales

Recurring revenue rose 9%

Net loss narrowed sharply; company posted second straight quarter of positive adjusted EBITDA

Outlook

SmartRent expects full-year Adjusted EBITDA profitability and positive cash flow

Company is expanding sales team and deepening account planning for targeted accounts

Result Drivers

HARDWARE REVENUE DROP - Co said total revenue fell due to a large hardware order in the prior year that did not recur in Q1 2026

RECURRING REVENUE GROWTH - SaaS revenue and annual recurring revenue each rose 9% yr/yr, supporting higher gross margins

COST PRODUCTIVITY - Gross margin expanded due to cost reduction actions and improved operating discipline

Company press release: ID:nBw9BKh9Sa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$38.70 mln
$36.82 mln (2 Analysts)
Q1 Net Income
-$4.40 mln
Q1 Operating Expenses
$20.20 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"

Wall Street's median 12-month price target for SmartRent Inc is $2.00, about 39.9% above its May 5 closing price of $1.43

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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.)