SmartRent Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Total revenue $41.6M, up 15% year over year
- ➤Core revenue $40.7M, up 24% year over year
- ➤Gross margin expanded 1,470 basis points to 41.2%
- ➤Adjusted EBITDA reached $1.1M, improving $4.0M year over year
- ➤Fourth-quarter revenue growth outlook is 15% to 20% year over year
Expert Statements
Frank Martell, President and Chief Executive Officer of SmartRent
“SmartRent has now delivered four successive quarters of accelerating growth and margin trends as we successfully execute against our Vision 2028 Strategic Plan. The positive momentum extends across all facets of the business including our sales muscle, critical technology advancements and operations effectiveness.”
Frank Martell, President and Chief Executive Officer of SmartRent
“In my view, our third quarter results, the Company’s strongest quarterly financial and operational results in over two years, provide a clear proof point. Third quarter Core Revenues were up 24%, Gross Margins expanded by 1,500 basis points to 41% and we continued to build our backlog of customer orders for our solutions.”
Frank Martell, President and Chief Executive Officer of SmartRent
“From my point of view, these results demonstrate strong operational execution as well as the operating leverage inherent through the execution of Vision 2028,”
Frank Martell, President and Chief Executive Officer of SmartRent
“It's important to note that we are improving margins and at the same time funding significant investments in our platform, data, infrastructure and product innovation which will support the Company’s long-term growth strategy.”
Frank Martell, President and Chief Executive Officer of SmartRent
“I believe SmartRent is increasingly the logical choice for owners and operators seeking to further streamline workflows, drive efficiency, and enhance asset performance through an investment in building intelligence solutions and smart home technology. As we enter 2027, I believe SmartRent has accelerating momentum and at the same time, is approaching an inflection point in terms of scale and its ability to consistently grow revenues and profits.”
Daryl Stemm, Chief Financial Officer of SmartRent
“Total Revenue increased 15% year-over-year, with Core Revenue up 24%. As our footprint continues to scale, we are seeing expanding adoption of our Access Control and Self-Guided Tour solutions, alongside strong demand for equipment upgrades and refreshes,”
Daryl Stemm, Chief Financial Officer of SmartRent
“We are also realizing the tangible benefits of our cost efficiencies, which enabled us to generate positive cash flow from operations and improve Adjusted EBITDA by $4 million year-over-year.”
Daryl Stemm, Chief Financial Officer of SmartRent
“Our focus remains on sustained revenue growth, expanding profitability and disciplined cash generation. With a strong balance sheet and an increasingly scalable operating model, we believe we are on track to deliver a strong fourth quarter and enter 2027 with considerable momentum.”
Revenue Growth and Higher Margins Power Increasing Investment in Growth, Technology and the Company's March to One Million Installed Units
SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), a market-leading building intelligence provider delivering innovative data, technology and workflow solutions for the rental housing industry, today reported financial results for the three months ended September 30, 2026.
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