SmartRent, Inc.

SmartRent, Inc. reported a significant improvement in its financial performance for the second quarter and first half of 2026. The company's net loss for Q2 narrowed by 48% to $5.64 million, with total revenue increasing by 4% to $39.84 million. For the first six months, net loss dramatically decreased by 80% to $10.09 million, and net cash used in operating activities improved by 77%.

SmartRent, Inc. reported strong second quarter 2026 financial results, with Core Revenue increasing 14% to $38.4 million and Total Revenue up 4% to $39.8 million. The company achieved positive Adjusted EBITDA of $0.7 million, an $8.0 million improvement from the prior year, marking its third consecutive quarter of positive Adjusted EBITDA. Net loss improved significantly by 48% to $6 million. SmartRent also announced an expanded share repurchase plan of up to $25 million, having already repurchased 2.8 million shares for $3.4 million during the quarter. The company's installed IoT footprint reached 929,487 units, with trailing twelve-month Units Booked increasing 40%, positioning it to exceed one million installed units in the first half of next year.

SmartRent, Inc. held its 2026 Annual Meeting of Stockholders on May 12, 2026, where several key proposals were approved. Stockholders elected two Class II directors, Alison Dean and Frank Martell, to serve until the 2029 annual meeting. Additionally, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2026 was ratified. The SmartRent, Inc. 2021 Equity Incentive Plan, as amended and restated, including an increase in shares reserved for issuance, also received stockholder approval.

SmartRent, Inc. reported a significant reduction in its net loss for the first quarter of 2026, narrowing to $4.45 million from $40.18 million in the prior year. Total revenue for the quarter decreased slightly to $38.68 million from $41.34 million. The company also saw a substantial improvement in net cash used in operating activities, which decreased to $4.54 million from $12.17 million year-over-year, partly due to the absence of a goodwill impairment charge present in the prior year.

SmartRent reported its first quarter 2026 financial results, achieving positive Adjusted EBITDA of $0.4 million, a significant improvement from a $6.4 million loss in the prior year. The company also substantially reduced its net loss by $35.8 million to $4.4 million. Annual Recurring Revenue (ARR) grew 9% to $60.9 million, and Units Deployed increased 10% year over year. SmartRent plans to invest in its go-to-market strategy and technology platform, aiming for full-year Adjusted EBITDA profitability and positive cash flow, despite a 6% decline in total revenue.