SmartRent Q2 revenue rises, loss narrows on professional services strength

SmartRent

05/08/2026 13:12

Overview
Rental housing tech provider's Q2 revenue grew 4% yr/yr, core revenue up 14%
Adjusted EBITDA turned positive, net loss narrowed by 48%
Company repurchased 2.8 mln shares, expanded buyback authorization to $25 mln

Outlook
SmartRent expects to exceed one million installed units in the first half of 2027
Company expects second half 2026 core revenue and profitability to be stronger than second half 2025
SmartRent says ongoing investments in data, analytics, and strategic collaborations will support growth

Result Drivers
CORE REVENUE GROWTH - Core revenue rose 14% yr/yr, driven by increased bookings and growth in installed base
PROFESSIONAL SERVICES - Professional services revenue doubled, mainly due to more hardware refresh installations and higher access control volume
MARGIN EXPANSION - Gross margin improved by 760 basis points, reflecting cost reduction actions and higher SaaS revenue

Company press release: ID:nBw4m9qgya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Beat*
$39.80 mln
$39.62 mln (2 Analysts)
Q2 Net Loss
 
$5.6 mln
 
Q2 Operating Expenses
 
$22.7 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 $1.35, about 28.6% above its August 4 closing price of $1.05

Reuters Recommended Reads
Aug 4 - NexPoint Residential Trust Q2 revenue beats estimates
Aug 3 - Centerspace Q2 revenue misses estimates
Aug 4 - Intapp Q4 results beats analyst estimates on SaaS, cloud growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)