SmartRent, Inc. reported second-quarter 2026 results with revenue of $39.84M, a 4% increase from $38.31M a year earlier, and a narrowed net loss of $5.64M versus a $10.86M loss in the year-ago quarter. Basic and diluted net loss per share was $(0.03), improved from $(0.06) in the prior-year quarter.
Financial Highlights
- Revenue was $39.84M for Q2 2026, compared with $38.31M in the prior-year quarter; YoY change 4%.
- Net income (loss) was a loss of $5.64M for Q2 2026, compared with a loss of $10.86M in the prior-year quarter; loss narrowed year over year.
- Diluted earnings per share: basic and diluted net loss per share $(0.03) for Q2 2026, compared with $(0.06) in the prior-year quarter; improved year over year.
Business Highlights
- SaaS ARR grew to $64.5M and SaaS revenue increased year over year, while hub amortization declined as non-distinct hubs became fully amortized.
- Units deployed rose 10% to 929,487; units shipped fell 12% sequentially while units booked surged, indicating a stronger backlog.
- Professional services revenue jumped materially (100% quarter-over-quarter), driven by hub upgrades and access control installations.
- Operating expense reductions, including lower R&D and sales spend, together with reduced hosted costs from decreased hub amortization, improved operating leverage.
- Management launched Vision 2028 to expand footprint, unify the platform with AI and data, simplify hardware, expand software offerings and scale go-to-market efforts.
Original SEC Filing:
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