SmartRent (SMRT) investor relations material

Executive summary

• Achieved total revenue of $39.8 million for Q2 2026, up 4% year-over-year, with core revenue up 14% to $38.4 million and SaaS revenue up 13% to $16.1 million, now 40% of total revenue.

• Units deployed reached 929,487, up 10% year-over-year, with trailing twelve-month units booked increasing 40% to 112,560.

• Gross margin expanded to 40.7%, up 760 basis points year-over-year, and adjusted EBITDA was positive for the third consecutive quarter at $0.7 million.

• Net loss improved by 48% to $5.6 million, reflecting higher revenues and lower costs.

• Advanced Vision 2028 priorities with strategic partnerships, platform unification, and technology investment.

Financial highlights

• Core revenue grew 14% year-over-year to $38.4 million, driven by bookings and installed base growth.

• SaaS revenue increased 13% to $16.1 million, with SaaS ARPU rising to $5.84.

• Hardware revenue declined 10% to $13.6 million, while professional services revenue doubled to $8.6 million.

• Gross profit reached $16.2 million, up from $12.7 million, with SaaS gross margin at 75.3%.

• ARR increased 13% year-over-year to $64.5 million, now representing 40% of total revenue.

Outlook and guidance

• Management expects to exceed one million installed units in the first half of 2027, with double-digit CAGR in installed base through 2028.

• Second half 2026 core revenue and profitability anticipated to be substantially stronger than the first half.

• Continued investment in data, analytics, and new product offerings, including the launch of an Innovation Center and strategic collaborations.