SmartRent, Inc. 8K

SmartRent, Inc. announced second quarter 2026 results featuring double-digit core revenue and ARR growth, improved margins and positive adjusted EBITDA, strong liquidity, and an expanded $25 million share repurchase authorization following buybacks completed during the quarter.

SmartRent, Inc. reported its financial results for the quarter ended June 30, 2026, highlighting 4% year-over-year total revenue growth to $39.8 million (with core revenue up 14%), a 13% increase in annual recurring revenue to $64.5 million, continued expansion of its installed IoT footprint to approximately 929,000 units, and materially improved profitability including a swing to positive adjusted EBITDA of $0.7 million and gross margin expansion to 40.7%. The company ended the quarter with approximately $93 million in cash, no debt, and an undrawn $75 million credit facility, while repurchasing 2.8 million shares (1.5% of shares outstanding) for $3.4 million and subsequently securing Board approval on July 24, 2026 for an expanded share repurchase authorization of up to $25 million, replacing the prior program. Management emphasized strong demand for its SaaS, access control, and self-guided tour offerings, progress toward surpassing one million installed units in the first half of next year, and expectations for stronger second-half 2026 core revenue and profitability versus 2025, supported by structural cost reductions and disciplined capital allocation.

Filing Facts

CIK

1837014

Ticker

-

Form

8K

Source Type

sec

Accession

0001193125-26-333913

Alert Tier

7