SmartRent, Inc. (SMRT) Earnings Call Transcripts

SmartRent, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, SmartRent, Inc. reported total revenue of $38.7 million, a 6% decline year-over-year, primarily due to a drop in noncash hub amortization revenue. However, the company achieved positive adjusted EBITDA of approximately $0.4 million, marking its second consecutive quarter of profitability in this metric. Management maintained a positive outlook, expecting revenue improvement in the second half of the year as sales productivity increases and the company continues to expand its installed IoT footprint, with annual recurring revenue (ARR) growing 9% to $61 million, representing 39% of total revenue.

Reported metrics

Guidance from management

Management expects revenue to improve in the second half of the year as sales productivity increases and the VAR channel begins to contribute. They anticipate being adjusted EBITDA profitable for the full year.

What management said

I'd say the primary driver is -- there's 2 kind of counterbalancing items. One is we experienced some churn off of our smart operations solution that had a negative impact on SaaS ARPU of about $0.11. The addition of new deployed units mitigated that about half of that reduction. We've -- As a reminder, we've tended to experience higher churn on smart operations and virtually no churn off of the IoT portion of our so...

What analysts pressed on

Analysts expressed concerns about the decline in bookings and the impact of market conditions on customer capital deployment decisions. There were also questions regarding the ramp-up of new sales representatives and the timing of contract renewals.

Main topics on the call

• Revenue Decline — Total revenue decreased by 6% year-over-year to $38.7 million, impacted by a $2.6 million decline in noncash hub amortization revenue. Daryl Stemm noted, 'core revenue was $36.6 million essentially flat to the $36.7 mill...
• Positive Adjusted EBITDA — SmartRent achieved positive adjusted EBITDA of approximately $0.4 million, an improvement from a loss of $6.4 million in the prior year quarter. Frank Martell stated, 'This was our second consecutive quarter of positive ...
• Gross Margin Expansion — Gross profit for Q1 totaled $15 million, with a gross margin of 39%, up 630 basis points year-over-year. This improvement was attributed to a 15% reduction in cost of sales and better operational discipline.
• ARR Growth — Annual recurring revenue (ARR) grew 9% year-over-year to $61 million, now constituting approximately 39% of total revenue. Management expects to drive higher levels of ARR and profitability as the IoT footprint expands.

Read the full SmartRent, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 23 SmartRent, Inc. earnings call transcripts on record, spanning April 22, 2021 to August 5, 2026. Based on this history, SmartRent, Inc. reports quarterly. The most recent call on file is dated August 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SMRT

Exchange

NYSE

Country

US

Sector

Information Technology

Industry

Electronic Equipment, Instruments and Components

Calls on record

23

First call

April 22, 2021

Most recent

August 5, 2026

Reporting cadence

quarterly