SmartRent, Inc. (SMRT) Stock

SmartRent, Inc. (SMRT) is a Technology stock trading at $1.35 (as of 2026-08-20), with a market capitalization of $260.33M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

SmartRent, Inc. provides an integrated smart home operating system for residential property owners and operators, homebuilders, developers, and residents in the United States. Its offerings include home and community access control, monitoring and asset protection, parking management and self-guided tours, along with community Wi‑Fi and related professional services such as training, installation, and support.

Understand SmartRent, Inc.: how it makes money

SmartRent provides an integrated smart home operating system for residential communities, and it makes money by selling software and hosted services that support visibility, access control, and asset protection for deployed homes and rental units.

Profitability is driven by recurring software revenue tied to deployed smart-home units, so unit growth and customer retention determine the revenue base while fixed operating costs affect whether operating results improve or stay negative.

Revenue by segment (latest quarter)
SaaS	$0.0B
Hosted	$0.0B

Business quality (Weak): Clear subscription-style operating metrics exist (SaaS recurring revenue, retention, unit deployments), but the latest quarter shows negative operating margin, so investors should focus on whether recurring revenue growth converts into operating profit.

Bull case

Recurring revenue focus: The company tracks Software as a Service Annual Recurring Revenue, indicating that a meaningful part of its revenue model is recurring software tied to its smart home platform.
Retention is strong in the reported period: Net Revenue Retention is shown at 100 percent, with Net Customer Revenue Retention Rate at 108 percent, supporting the idea that existing customers can expand revenue over time.
Platform expansion into deployed units: The company reports New Units Deployed of 20662 and Installed Internet of Things Rental Units With SmartRent Technology Installed of 911244, which can expand the connected base that software and hosted services rely on.

Bear case

Operating losses persist: Operating margin is negative at -13.2 percent in the latest period, so growth has not yet translated into operating profit.
Dependence on continued customer and unit traction: Key operating indicators include retention and unit deployments (Committed Units, New Units Deployed, Net New Units). If deployments slow or retention weakens, recurring revenue momentum could be pressured.
Revenue concentration by service mix risk: Because disclosed operating revenue categories emphasize software as a service and hosted services, unfavorable changes in product mix or customer usage could affect the revenue base.

Valuation — source: SEC EDGAR (first-party)
Price	$1.35
Market Cap	$260.33M
Price / Book	1.13
Price / Sales	1.68
FCF Yield	-31.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$152.33M
Net Margin	-39.8%
Revenue Growth (YoY)	-12.9%
EPS Growth (YoY)	88.2%
FCF Growth (YoY)	-27.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.25 (distress)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Computers)	32.1

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($24.52M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Computers
CEO	Frank D. Martell
Employees	494
Country	US
IPO Date	2021-08-25

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.