Smartrent Stock Price, News & Analysis

SmartRent, Inc. (NYSE: SMRT) is a smart communities and smart operations technology company focused on the rental housing industry. Founded in 2017, SmartRent develops an end-to-end enterprise ecosystem that brings smart home and smart building capabilities to professionally managed rental properties. According to the company, its platform is designed to automate operations, protect assets, reduce energy consumption and enhance the resident experience across large-scale rental portfolios.

SmartRent describes itself as a hardware-enabled SaaS business serving property owners, operators, their onsite teams and residents. Its ecosystem combines purpose-built software and hardware with end-to-end implementation and support. The company reports that millions of users and 15 of the top 20 multifamily operators use SmartRent solutions, and that its installed base includes hundreds of thousands of rental units across the United States.

Business focus and solutions

SmartRent positions its offerings as smart communities solutions and smart operations solutions for rental housing. The platform is intended to support smarter living and working in rental properties by enabling automation of property operations, asset protection, and energy management, while improving the experience for residents and onsite teams. The company highlights that its technology is built specifically for the needs of institutional owners and operators of multifamily and other rental housing.

SmartRent’s revenue model, as described in its financial disclosures, includes hardware, professional services and hosted services. Hosted services revenue includes SaaS revenue from subscription fees paid by customers for access to SmartRent software applications. The company defines SaaS revenue as monthly subscription revenue from access controls, asset monitoring and related services, and its Community WiFi solution. It also reports professional services revenue related to installations and other services, and hardware revenue related to physical devices deployed at properties.

Hardware-enabled SaaS model

In its earnings releases, SmartRent characterizes itself as a hardware-enabled SaaS company with a growing SaaS footprint. The company tracks key operating metrics such as Units Deployed, New Units Deployed, Units Shipped, Units Booked, Bookings and Annual Recurring Revenue (ARR). Units Deployed represent hub devices installed with active subscriptions, while SaaS revenue is derived from ongoing software subscriptions associated with those deployments.

SmartRent emphasizes that it has shifted away from bulk hardware sales that are not aligned with customer implementation timelines, in favor of a more sustainable, SaaS-focused revenue mix. The company highlights SaaS ARPU (average revenue per unit) and various net revenue retention metrics as important indicators of the health and growth of its subscription-based business.

Customer base and market reach

Across multiple company communications, SmartRent notes that its customer base includes many of the largest multifamily owners and operators in the United States. It reports that 15 of the top 20 multifamily operators leverage its solutions and that its installed base spans more than 870,000 rental units, with customers collectively owning or controlling nearly seven million of the approximately 44 million institutionally managed rental housing units in the country. These statements underscore the company’s focus on institutional rental housing rather than individual homeowners.

SmartRent also references an installed base of hub devices and a growing number of units deployed, booked and shipped as it expands its presence in rental housing. The company describes its platform as an enterprise ecosystem that supports smarter communities by integrating software, hardware, and services tailored to the operational needs of rental portfolios.

Energy management and resident experience

SmartRent has highlighted energy management as a key area of focus. In a survey of U.S. renters conducted with Morning Consult, the company reported that renters increasingly prioritize energy efficiency and cost-saving technologies when choosing a home, and that many renters view energy-efficient features and smart technologies as influential in lease decisions. SmartRent positions its solutions as a way for property managers to implement smart home technologies and other tools that can help reduce utility spending and provide greater visibility into energy usage.

The company also emphasizes that its platform is intended to enhance resident control over aspects of their living environment and to improve communication between property managers and residents regarding energy use and costs. By automating operations and supporting energy-efficient property technologies, SmartRent aims to help rental housing providers address renter expectations around cost savings and sustainability.

Operations, governance and listing

SmartRent is incorporated in Delaware and lists its Class A common stock on the New York Stock Exchange under the symbol SMRT. The company has reported receiving formal notice from the NYSE that it regained compliance with the exchange’s minimum share price continued listing standard under Section 802.01C of the NYSE Listed Company Manual, and has stated that it remains in compliance with NYSE continued listing criteria.

The company has disclosed governance developments such as the appointment of new directors, amendments and restatements of its bylaws to update advance notice provisions and reflect changes in Delaware law, and leadership appointments including a President and Chief Executive Officer, a Chief Transformation Officer and a Chief Information Officer. These changes are presented as part of SmartRent’s efforts to support operational excellence, scalability and technology strategy.

Financial reporting and key metrics

Through its periodic earnings releases and Form 8-K filings, SmartRent provides detail on its revenue composition, operating expenses, gross margins and non-GAAP measures. The company reports total revenue broken out into hardware, professional services and hosted services, and discusses trends such as shifts in hardware revenue, growth in SaaS revenue and changes in professional services performance.

SmartRent also discloses non-GAAP metrics including EBITDA and Adjusted EBITDA, explaining that these are used by management to assess financial and operating performance and to identify expenses related to non-recurring or unusual events. The company provides definitions for financial and operating metrics such as Units Deployed, New Units Deployed, Units Shipped, Units Booked, Bookings, ARR, SaaS ARPU, Hardware ARPU, Professional Services ARPU, Property Net Revenue Retention, Customer Net Revenue Retention and Customer Churn.

Position within property technology

In its public statements, SmartRent describes itself as a category leader in smart property technology for the rental housing industry, with purpose-built solutions and deep relationships with large multifamily owners and operators. The company emphasizes that its platform is designed around the specific operational challenges of rental housing, including portfolio performance, operational efficiency and resident and team satisfaction.

By combining purpose-built software and hardware with end-to-end implementation and support, SmartRent presents its ecosystem as a way for institutional rental housing owners and operators to adopt smart technology at scale. Its focus on automation, asset protection, energy reduction and resident experience reflects the company’s stated goal of powering smarter living and working in rental communities.