SMRT on NYSE

SmartRent, Inc.

In its 2026 annual report the company says: “We are an enterprise real estate technology company that provides a comprehensive management platform designed for property owners, managers and residents. Our suite of products and services, which includes cloud-based software-as-a-service solutions many of which are enabled by smart building hardware, provide seamless visibility and control over real estate assets.”3 It is headquartered in Phoenix, Arizona.1 Its shares trade on NYSE under the symbol SMRT.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSMRT on NYSE1
  • IndustryServices-Computer Integrated Systems Design1
  • HeadquartersPhoenix, Arizona1
  • Incorporated inDE2
  • Business address6811 E Mayo Blvd, Phoenix, Az 850542
  • Filer categoryAccelerated filer, Emerging growth company2

We are an enterprise real estate technology company that provides a comprehensive management platform designed for property owners, managers and residents. Our suite of products and services, which includes cloud-based software-as-a-service ("SaaS") solutions many of which are enabled by smart building hardware, provide seamless visibility and control over real estate assets. Our platform can lower operating costs, increase revenues, mitigate operational friction and protect assets for owners and operators, while providing a differentiated, elevated living experience for residents.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-42.0%Operating margin4
-39.8%Net margin4
-12.9%Revenue growth, 20254
-26.1%Return on equity4
-$25.1MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue67¢$102.5M
  • Research and development17¢$26.2M
  • Other costs15¢$23.6M
  • Income tax0¢$41.0K

Out of $152.3M in revenue.4 The company lost money this year.

Financial statements

Revenue5674$152.3M in 2025+190% since 2020
0$100.0M$200.0M$300.0M2020: $52.5M$52.5M20202021: $110.6M$110.6M2021+111%2022: $167.8M$167.8M2022+52%2023: $236.8M$236.8M2023+41%2024: $174.9M$174.9M2024−26%2025: $152.3M$152.3M2025−13%
Operating income5674-$64.0M in 2025+79% since 2020
-$150.0M-$100.0M-$50.0M02020: -$35.7M-$35.7M20202021: -$71.7M-$71.7M2021+101%2022: -$104.3M-$104.3M2022+45%2023: -$43.2M-$43.2M2023−59%2024: -$41.8M-$41.8M2024−3%2025: -$64.0M-$64.0M2025+53%
Net income5674-$60.6M in 2025+63% since 2020
-$100.0M-$75.0M-$50.0M-$25.0M02020: -$37.1M-$37.1M20202021: -$72.0M-$72.0M2021+94%2022: -$96.3M-$96.3M2022+34%2023: -$34.6M-$34.6M2023−64%2024: -$33.6M-$33.6M2024−3%2025: -$60.6M-$60.6M2025+80%
Fiscal year2019202020212022202320242025
Revenue$52.5M5$110.6M6$167.8M7$236.8M4$174.9M4$152.3M4
Cost of revenue$56.8M5$120.7M6$166.5M7$187.3M4$114.5M4$102.5M4
Research and development$9.4M5$21.6M6$29.4M7$28.8M4$29.4M4$26.2M4
Operating expenses$61.6M6$105.6M7$92.7M4$102.1M4$88.9M4
Operating income-$35.7M5-$71.7M6-$104.3M7-$43.2M4-$41.8M4-$64.0M4
Income before tax-$71.8M6-$101.7M7-$34.7M4-$33.4M4-$60.5M4
Income tax$149.0K5$115.0K6-$5.4M7-$108.0K4$267.0K4$41.0K4
Net income-$37.1M5-$72.0M6-$96.3M7-$34.6M4-$33.6M4-$60.6M4
Earnings per share-$4.325-$0.966-$0.497-$0.174-$0.174-$0.324
Earnings per share (diluted)-$4.325-$0.966-$0.497-$0.174-$0.174-$0.324
Shares (weighted, basic)74.7M shares6195.6M shares7200.7M shares4199.2M shares4189.7M shares4
Shares (weighted, diluted)74.7M shares6195.6M shares7200.7M shares4199.2M shares4189.7M shares4

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Corporate structure

SmartRent, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SmartRent, Inc.

  • SmartRent, Inc. Phoenix, Arizona

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SmartRent, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$16.9M4 Dec 31, 2025$12.1M4 Dec 31, 2024+40.0%
Property and equipment, before depreciation$8.8M4 Dec 31, 2025$5.6M4 Dec 31, 2024+56.6%
Accumulated depreciation$3.7M4 Dec 31, 2025$3.2M4 Dec 31, 2024+16.2%
Property and equipment, net$5.1M4 Dec 31, 2025$2.5M4 Dec 31, 2024+108.9%
Operating-lease assets (leased space)$2.8M4 Dec 31, 2025$3.8M4 Dec 31, 2024−26.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$104.5M4 Dec 31, 2025$142.5M4 Dec 31, 2024−26.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$92.3M4 Dec 31, 2025$117.3M4 Dec 31, 2024−21.3%
Intangible assets, net (excluding goodwill)$19.5M4 Dec 31, 2025$23.4M4 Dec 31, 2024−16.6%
Accumulated amortization$15.0M4 Dec 31, 2025$11.1M4 Dec 31, 2024+34.9%
Finite-lived intangibles, net$19.5M4 Dec 31, 2025$23.4M7 Dec 31, 2024−16.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$26.7M4 Dec 31, 2025$35.3M4 Dec 31, 2024−24.4%
Raw materials$311.0K4 Dec 31, 2025$385.0K4 Dec 31, 2024−19.2%
Finished goods$26.4M4 Dec 31, 2025$34.9M4 Dec 31, 2024−24.4%

Properties, in its own words

Our corporate headquarters are located in Phoenix, Arizona, where we lease 38,820 square feet of office space. We also lease 60,820 square feet of warehouse space in Avondale, Arizona. In addition to our facilities located in the U.S., we lease 4,101 square feet of office space and 2,110 square feet of warehouse space in Zagreb, Croatia. We believe that our facilities are adequate to meet our needs for the immediate future and that suitable additional space will be available to accommodate any expansion of our operations as needed.

Item 2 of the 10-K filed Mar 4, 2026.3

Leadership

Who has led SmartRent, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (26)

Former names

  • Fifth Wall Acquisition Corp. IDec 18, 2020 to Aug 24, 20212

Timeline

  1. Aug 5, 20268-K Results of operations; Regulation FD disclosure44
  2. May 13, 20268-K Executive or director change; Shareholder vote45
  3. May 6, 20268-K Results of operations; Regulation FD disclosure46
  4. Mar 4, 20268-K Results of operations; Regulation FD disclosure47
  5. Feb 5, 20268-K Results of operations48
  6. Nov 17, 20258-K Executive or director change; Bylaws or fiscal year changed49
  7. Nov 5, 20258-K Results of operations; Regulation FD disclosure50
  8. Aug 6, 20258-K Results of operations; Regulation FD disclosure51
  9. Jun 24, 20258-K Executive or director change; Regulation FD disclosure52
  10. Jun 16, 2025New chief executive Frank Martell becomes CEO12
  11. Jun 16, 20258-K Executive or director change; Regulation FD disclosure53
  12. May 19, 20258-K Shareholder vote54
  13. May 7, 20258-K Results of operations; Regulation FD disclosure55
  14. Feb 25, 2025New chief executive Michael Shane Paladin becomes CEO11
  15. Aug 26, 2021New chief executive Lucas Merwan Haldeman becomes CEO13

Calendar

Coming up

  1. Nov 4, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported ($0.03) a share, on Nov 5, 2025.56

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results44
  2. May 6, 2026Reported quarterly or annual results46
  3. Mar 4, 2026Reported quarterly or annual results47
  4. Feb 5, 2026Reported quarterly or annual results48
  5. Nov 5, 2025Reported quarterly or annual results50
  6. Aug 6, 2025Reported quarterly or annual results51
  7. May 7, 2025Reported quarterly or annual results55
  8. Apr 10, 2025Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

614 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 47 major events, 453 insider forms, 37 large holders, 56 other. The latest 20:

  1. Oct 6, 20264 EDGAR
  2. Sep 30, 20264 EDGAR
  3. Aug 20, 20264 EDGAR
  4. Aug 14, 20264 EDGAR
  5. Aug 13, 2026SCHEDULE 13G/A EDGAR
  6. Aug 12, 20264 EDGAR
  7. Aug 11, 20264 EDGAR
  8. Aug 11, 20264 EDGAR
  9. Aug 5, 202610-Q EDGAR
  10. Aug 5, 20268-K EDGAR
  11. Jul 30, 2026SCHEDULE 13G EDGAR
  12. Jun 30, 20264 EDGAR
  13. Jun 10, 20264 EDGAR
  14. Jun 5, 20264 EDGAR
  15. May 27, 20264 EDGAR
  16. May 20, 20264/A EDGAR
  17. May 20, 20264 EDGAR
  18. May 18, 2026S-8 EDGAR
  19. May 13, 20264 EDGAR
  20. May 13, 20264 EDGAR

The 614 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

102 open-market trades by officers, directors and large owners since October 2021: 61 buys and 41 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 20, 2026Bohjalian Thomas NDirectorBuy15,000$1.37$20.6KForm 4
Aug 19, 2026Bohjalian Thomas NDirectorBuy40,000$1.40$56.0KForm 4
Aug 11, 2026Bohjalian Thomas NDirectorBuy5,000$1.34$6.7KForm 4
Aug 11, 2026Martell FrankChief Executive OfficerBuy100,000$1.42$142.0KForm 4
Aug 11, 2026Pinczuk Ana G.DirectorBuy107,000$1.43$153.0KForm 4
Jun 10, 2026Bohjalian Thomas NDirectorBuy75,000$1.11$83.2KForm 4
Jun 5, 2026Martell FrankChief Executive OfficerBuy40,260$1.13$45.5KForm 4
Jun 4, 2026Martell FrankChief Executive OfficerBuy20,000$1.19$23.8KForm 4
May 26, 2026Ponathil SangeethChief Information OfficerBuy10,000$1.25$12.5KForm 4
May 12, 2026Martell FrankChief Executive OfficerBuy100,000$1.18$118.0KForm 4
May 8, 2026Martell FrankChief Executive OfficerBuy50,000$1.12$56.0KForm 4
Mar 12, 2026Bohjalian Thomas NDirectorBuy150,000$1.74$261.0KForm 4
Dec 16, 2025Martell FrankChief Executive OfficerBuy19,466$2.07$40.3KForm 4
Dec 15, 2025Martell FrankChief Executive OfficerBuy30,534$2.06$62.9KForm 4
Dec 12, 2025Martell FrankChief Executive OfficerBuy25,000$2.07$51.8KForm 4
Dec 11, 2025Martell FrankChief Executive OfficerBuy25,000$2.07$51.8KForm 4
Dec 10, 2025Martell FrankChief Executive OfficerBuy30,000$1.99$59.7KForm 4
Dec 9, 2025Martell FrankChief Executive OfficerBuy30,000$2.03$60.9KForm 4
Dec 5, 2025Martell FrankChief Executive OfficerBuy124,086$1.91$237.0KForm 4
Dec 4, 2025Martell FrankChief Executive OfficerBuy100,000$1.88$188.0KForm 4

All 102 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Michael Shane Paladinformer Chief Executive Officer$5.4M71
2025Frank MartellChief Executive Officer and President66$386.1K$2.7M71
2025Daryl StemmChief Financial Officer and former Interim Principal Executive Officer65$325.0K$1.1M71
2025John Dormanformer Interim Principal Executive Officer75$206.2K$870.2K71
2024Daryl StemmChief Financial Officer and former Interim Principal Executive Officer65$325.0K$855.8K71

SEC filer profile

How SmartRent, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSmartRent, Inc.1
  • CIK0001837014
  • Employer ID (EIN)85-42185263
  • Filer statusAccelerated filer an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)7373 Services-Computer Integrated Systems Design1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address6811 E Mayo Blvd, Phoenix, AZ 850541
  • Phone844.479.15551
  • Shares outstanding191,611,799 as of Aug 3, 20269
  • Public float$116.1M as of Jun 30, 20253
  • AuditorDeloitte & Touche LLP, Tempe, Arizona PCAOB ID 34; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceDec 18, 20201
  • Filings733 in all: 4 (442), 8-K (57), 3 (35), 425 (27), 10-Q (17), 144 (17), 4/A (14), 424B3 (11)1
    All 39 form types

    SC 13D/A (11), SC 13G/A (11), SC 13G (10), CORRESP (8), DEFA14A (8), UPLOAD (6), 10-K (5), DEF 14A (5), EFFECT (5), ARS (4), S-8 (4), SCHEDULE 13G (4), SCHEDULE 13G/A (4), 3/A (3), 8-A12B (2), 8-K/A (2), CERT (2), POS AM (2), S-1 (2), S-1/A (2), S-4/A (2), SC 13D (2), 10-K/A (1), 25 (1), 424B4 (1), 8-A12B/A (1), CT ORDER (1), DEFR14A (1), DRS (1), S-1MEF (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 4, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 1, 2026
    Latest 8-K (8-K) Aug 5, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.0001 par valueSMRTThe New York Stock Exchange

From the cover page of the 10-K filed Mar 4, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks SmartRent, Inc. names in Item 1A of its 10-K filed Mar 4, 2026: 52 risks under these headings, as written.3

  • Risks Related to Our Business and Industry
  • Risks Related to Legal and Regulatory Matters
  • Risks Related to Ownership of Our Class A Common Stock
  • We have a history of net losses and may not be able to achieve or maintain profitability in the future.
  • Our limited operating history and the quickly changing markets in which we operate make evaluating our current business and future prospects difficult, which may increase the risk of investing in our Class A Common Stock.
  • We may be unable to attract new customers and maintain customer satisfaction, which could have an adverse effect on our business and growth.
  • Potential customer turnover in the future, or costs we incur to retain and upsell our customers, could materially and adversely affect our financial performance.
  • We make estimates relating to customer demand and errors in our estimates may have negative effects on our inventory levels, revenues, and results of operations.
  • We have limited control over our suppliers, manufacturers, and partners, which may subject us to significant risks, including the potential inability to produce, obtain or provide quality products and services on a timely basis or in sufficient quantity. If these third-party suppliers, manufacturers, and partners experience any delay, disruption or quality control problems in their operations, we could lose market share and our results of operations may suffer.
  • We depend on third-party suppliers and manufacturers and partners for our products and services. A loss of any of our suppliers, manufacturers, and partners could negatively affect our business.
  • The loss of one or more key members of our management team or personnel, or our failure to attract, integrate and retain additional personnel in the future, could harm our business and negatively affect our ability to successfully grow our business.
  • We may not successfully manage the transition of leadership to our new President and Chief Executive Officer, which could have an adverse impact on us.
The other 43 risks
  • If we are unable to develop new products and solutions, adapt to technological change, sell our products and solutions into new markets, or further penetrate our existing markets, our revenue may not grow as expected.
  • If the smart home technology industry does not grow as we expect, or if we cannot expand our products and solutions to meet the demands of this market, our revenue may decline, fail to grow or fail to grow at an accelerated rate, and we may incur operating losses.
  • Our operating results and financial condition may fluctuate from period to period.
  • Product liability, warranty, personal injury, property damage and recall claims may materially affect our financial condition and damage our reputation.
  • The markets in which we participate could become more competitive as many companies, including large technology companies, managed service providers and internet service and security providers, may target the markets in which we do business. If we are unable to compete effectively with these potential competitors and sustain pricing levels for our products and solutions, our revenue and profitability could be adversely affected.
  • If we fail to continue to develop our brand or our reputation is harmed, our business may suffer.
  • We rely on assumptions and estimates to calculate certain of our key operating metrics, and real or perceived inaccuracies in such metrics could adversely affect our reputation and our business.
  • Interruptions to, or other problems with, our website and interactive user interface, information technology systems, manufacturing processes or other operations could damage our reputation and brand and substantially harm our business.
  • Our ability to use net operating loss carryforwards may be subject to limitations.
  • Changes in tax laws could have a material adverse effect on our business, cash flow, results of operations or financial conditions.
  • We may expand through acquisitions of, or investments in, other companies, each of which may divert our management’s attention, result in additional dilution to our stockholders, increase expenses, disrupt our operations and harm our business.
  • We may incur substantial indebtedness and any failure to meet our debt obligations may adversely affect our business, financial condition, and results of operations.
  • Our credit facility contains restrictive covenants that may limit our operating flexibility, which may adversely affect our business, financial condition, and results of operations.
  • We may require additional capital to pursue our business objectives and to respond to business opportunities, challenges, or unforeseen circumstances. If capital is not available to us on acceptable terms, our business, results of operations, and financial condition may be adversely affected.
  • Failure to adequately protect our intellectual property, technology, processes and confidential information could reduce our competitiveness and harm our business.
  • Accusations of infringement of third-party intellectual property rights could materially and adversely affect our business.
  • Some of our products and solutions contain open-source software, which may pose particular risks to our software, technologies, products, and solutions in a manner that could harm our business.
  • Downturns in or uncertainties about general economic and market conditions and reductions in spending may reduce demand for our products and solutions, which could harm our business.
  • Uncertain commercial banking conditions could materially adversely affect our results of operations and financial condition.
  • Insurance policies may not cover all of our operating risks and a casualty loss beyond the limits of our coverage could negatively impact our business.
  • Changes in effective tax rates, or adverse outcomes resulting from examination of our income, sales or other tax returns, could adversely affect our results of operations and financial condition.
  • We collect, store, use, and otherwise process personal information of our customers and their residents, and of our employees, service providers, and others, which subjects us to laws, regulations, and legal and contractual obligations related to privacy, data protection, and cybersecurity, and any actual or perceived failure to meet those obligations could harm our business.
  • If there is any breach of security controls or any security incident, any unauthorized or inadvertent access to customer, residential, or other data, or any unauthorized control or view of systems, our products and solutions may be perceived as insecure, our business may be harmed, and we may incur significant liabilities.
  • If we are unable to successfully implement AI technology into our SmartRent Solutions, our business could be harmed.
  • Our products and solutions may be affected from time to time by design and manufacturing defects that could subject us to personal injury, property damage, product liability, warranty, and other claims, which could adversely affect our business and result in harm to our reputation.
  • The requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain senior management and qualified Board members.
  • If we fail to maintain an effective system of internal controls, we may not be able to accurately report financial results or prevent fraud and the trading price of our stock could be negatively affected.
  • Our smart home technology is subject to varying state and local regulations, which may be updated from time to time.
  • Changing expectations from investors, customers, employees, and others regarding environmental, social and governance matters, practices and reporting may result in additional costs or risks.
  • Failure of our global operations to comply with import and export, bribery, and money laundering laws, regulations and controls, could have an adverse impact on our financial condition.
  • Expanding our international operations subjects us to a variety of risks and uncertainties, including exposure to foreign currency exchange rate fluctuations, which could adversely affect our business and operating results.
  • From time to time, we may be subject to legal proceedings, regulatory disputes, and governmental inquiries that could cause us to incur significant expenses, divert our management’s attention, and materially harm our business.
  • Our Class A Common Stock price may be volatile or may decline regardless of our operating performance.
  • We do not intend to pay dividends on our Class A Common Stock for the foreseeable future.
  • If securities analysts issue unfavorable commentary about us or our industry or downgrade our Class A Common Stock, the price of our Class A Common Stock could decline.
  • We may not realize the anticipated long-term stockholder value of our stock repurchase program, and any failure to repurchase our Class A common stock after we have announced our intention to do so may negatively impact our stock price.
  • Our issuance of additional shares of Class A Common Stock or convertible securities could make it difficult for another company to acquire us, may dilute your ownership of us and could adversely affect our stock price.
  • Future sales, or the perception of future sales, of our Class A Common Stock by us or our existing stockholders in the public market could cause the market price for our common stock to decline.
  • Our management has limited experience in operating a public company.
  • We could be negatively impacted by being a target of shareholder activists or short sellers, causing us to incur significant expense and hinder or disrupt the execution of our business strategy.
  • If we cannot meet the NYSE continued listing requirements, the NYSE may delist our Class A Common Stock.
  • Anti-takeover provisions in our governing documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our Class A Common Stock.
  • Our Charter and bylaws provide that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.

Legal proceedings

From time to time, we are subject to various claims, charges and litigation matters that arise in the ordinary course of business. We believe these actions are a normal incident of the nature and kind of business in which we are engaged. While it is not feasible to predict the outcome of these matters with certainty, we do not believe that any asserted or unasserted legal claims or proceedings, individually or in the aggregate, will have a material adverse effect on our business, financial condition, results of operations or prospects.

For a discussion of legal and other proceedings in which we are involved, see Note 12 - Commitments and Contingencies in the Notes to Consolidated Financial Statements in Part II, Item 8 of this Report.

The opening of Item 3, Legal Proceedings.3

Sources

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