Welcome to our dedicated page for SmartRent news (Ticker: SMRT), a resource for investors and traders seeking the latest updates and insights on SmartRent stock.
SmartRent, Inc. (symbol: SMRT) is a pioneer in the smart home and smart building technology sector, offering advanced solutions tailored for property owners, managers, and residents. The company’s core business revolves around its innovative platform that provides seamless control and visibility over property assets, aiming to enhance operational efficiency and resident satisfaction.
SmartRent’s comprehensive suite of products includes smart locks, thermostats, lighting, sensors, and other devices that can be centrally managed through a unified interface. This holistic approach not only promotes cost savings but also opens up new revenue streams for property managers through all-in-one home control offerings.
Operating primarily in the United States, with a growing international presence, SmartRent is continually expanding its market footprint. Recent projects include partnerships with leading real estate firms to integrate smart technologies into large-scale residential and commercial developments.
Financially, SmartRent has shown robust performance with steady revenue growth driven by increasing demand for smart home solutions. The company’s strategic collaborations and innovative product launches have bolstered its market position, making it a significant player in the industry.
Overall, SmartRent’s dedication to enhancing the living experience through technology positions it as a forward-thinking leader in the smart home market, committed to driving value for its stakeholders.
SmartRent (NYSE: SMRT) has launched new maintenance Dashboards within its Smart Operations platform, designed to optimize property performance through enhanced reporting functionality. The system consolidates task data into a single screen, providing visual maintenance metrics at property, region, and portfolio levels.
The platform includes features such as task status tracking, completion time monitoring, and resident ratings. Notable improvements include AI-powered dictation that reduces task creation effort by 70%, digital make-ready boards, and appointment scheduling options. The solution is currently utilized across 7,600 communities representing 1.3M units and 300 multifamily organizations.
SmartRent (NYSE: SMRT) reported Q3 2024 results with mixed performance. Total revenue decreased 30% year-over-year to $40.5 million, while SaaS revenue grew 23% to $13.3 million. The company reported a net loss of $(9.9) million, up 29% from $(7.7) million in Q3 2023. SaaS Annual Recurring Revenue (ARR) reached $53 million, and Units Deployed increased 15% to 787,038. The company maintained a strong balance sheet with $163.7 million in cash and no debt. During Q3, SmartRent repurchased 9.8 million shares for $17.1 million and appointed Natalie Cariola as new Chief Revenue Officer to revitalize sales strategy.
SmartRent, a leading provider of smart solutions for rental housing, has reached a significant milestone with its one millionth self-guided property tour. This achievement highlights the growing popularity of flexible touring options in the rental industry. The milestone tour took place at Metro on First, a luxury community by Equity Residential in Uptown Seattle.
A recent survey conducted by SmartRent revealed that 58% of renters tour three or more properties before making a decision, and 70% of Millennial and Gen Z renters express interest in self-touring options. Properties using SmartRent's Self-Guided Tours solution see an average of nearly 20 scheduled tours per available unit per month.
SmartRent's technology leverages smart access controls, thermostats, and lighting to create an optimal tour experience. The company's data shows that 92% of self-guided tours take less than five minutes to schedule, allowing communities to accommodate more visitors efficiently.
SmartRent, Inc. (NYSE: SMRT), a leading provider of smart communities and smart operations solutions for the rental housing industry, has announced it will release its third quarter 2024 financial results on Wednesday, November 6, 2024. The results will be released before the market opens, followed by a conference call and webcast at 11:30 a.m. ET.
The call will be hosted by John Dorman, Chairman of the Board, and Daryl Stemm, Chief Financial Officer and Interim Principal Executive Officer. They will discuss the company's performance. Interested parties can access the conference call via telephone by registering online, and are encouraged to dial in 15 minutes before the scheduled start time. A live and archived webcast will also be available on the company's Investor Relations website.
SmartRent, Inc. (NYSE: SMRT) has launched its next-generation Alloy Fusion, a wall-mounted Z-Wave hub with integrated thermostat for rental housing. This new device builds on the technology from the original Alloy Fusion launched in 2020. The hub integrates controls for climate, smart lights, outlets, and sensors into a single interface, allowing residents to manage their smart home devices easily.
Key features of the new Alloy Fusion include:
- User-friendly touchscreen management
- Flexible control options via app or device interface
- Customizable interface with light/dark mode and weather display
- Reduced maintenance and replacement requirements
SmartRent's Chief Technology Officer, Isaiah DeRose-Wilson, stated that the hub contributes to an attractive tech ecosystem, potentially boosting lease conversion rates, resident satisfaction, retention, and occupancy rates while enhancing operational efficiency for owners and operators.
SmartRent, Inc. (NYSE: SMRT), a leading provider of smart solutions for the rental housing industry, has announced the appointment of Natalie Cariola as its new Chief Revenue Officer (CRO), effective September 30. Cariola brings over two decades of experience in proptech and multifamily sectors, and will be responsible for overseeing SmartRent's revenue operations and business expansion initiatives.
As CRO, Cariola will lead the revenue organization, focusing on expanding market share and strengthening customer relationships. Her appointment is expected to enhance customer experience and capitalize on SmartRent's growth potential. Cariola's extensive background includes leadership roles at Stake, Zumper, Compass, and ForRent.com, where she demonstrated success in growing revenue at scale and building high-performing teams.
SmartRent, Inc. (NYSE: SMRT) has successfully implemented its Work Management and Answer Automation solutions for Capital Square Living, aiding in the transition of 14,000 owned units from third-party to in-house management. The rollout, occurring at a rate of 800-1,000 units every 30 days in 2023, aimed to improve workflow and communication across Capital Square Living's portfolio.
Ryan Perez, Executive VP of Capital Square Living, emphasized the importance of SmartRent's direct PMS integrations in maintaining data integrity during the transition. A case study highlighted the smooth implementation and positive impact on operations and resident satisfaction. Notably, Capital Square Living's maintenance technicians advocated for retaining and expanding SmartRent technology across the portfolio.
SmartRent (NYSE: SMRT) reported Q2 2024 results with mixed performance. SaaS revenue grew 32% year-over-year to $12.8 million, driving SaaS ARR to a record $51.2 million. However, total revenue decreased 9% to $48.5 million. The company improved its financial position, reducing net loss by 56% to $(4.6) million and achieving positive Adjusted EBITDA of $902K, a 114% improvement year-over-year.
Key metrics showed progress, with Units Deployed reaching 771,870, up 19% year-over-year. SaaS ARPU increased 9% to $5.63. The company's gross margin improved significantly to 35.7% from 18.5% last year. SmartRent ended the quarter with a strong cash position of $187.4 million and no debt.
SmartRent (NYSE: SMRT) announced a CEO transition plan, with Lucas Haldeman stepping down as CEO and resigning from the Board of Directors. John Dorman has been appointed Chairman of the Board, and a Management Committee of current executives will guide the company during the transition. The Board has initiated a search for a new CEO.
Preliminary Q2 2024 results show Total Revenue of $48.5 million, a 9% decrease year-over-year, and slightly below guidance. Net Loss is expected to be $4.6 million, a 55% improvement. Adjusted EBITDA is projected at $0.9 million, above guidance. SaaS Revenue is expected to reach $12.8 million, a 32% increase.
Due to the CEO transition, scaling back of the channel partner program, and market headwinds, SmartRent has suspended its full-year 2024 outlook. The company will discuss Q2 2024 results in a conference call on August 7, 2024.
SmartRent (NYSE: SMRT), a leading provider of smart solutions for rental housing, has announced its upcoming second quarter 2024 financial results release and conference call. The company will release its Q2 2024 financial results before market open on Wednesday, August 7, 2024. Following the release, CEO Lucas Haldeman and CFO Daryl Stemm will host a conference call and webcast at 11:30 a.m. ET to discuss the company's performance.
Investors can access the conference call via telephone by registering in advance, with dial-in details provided upon registration. To avoid delays, participants are encouraged to dial in 15 minutes before the scheduled start time. A live and archived webcast of the call will be available on the company's Investor Relations website.
FAQ
What is the current stock price of SmartRent (SMRT)?
What is the market cap of SmartRent (SMRT)?
What does SmartRent, Inc. do?
Where does SmartRent, Inc. operate?
What products does SmartRent, Inc. offer?
How does SmartRent, Inc. help property managers?
Has SmartRent, Inc. partnered with other companies?
What is the financial performance of SmartRent, Inc.?
What are the benefits of SmartRent, Inc.'s solutions for residents?
How does SmartRent, Inc. generate revenue?
Is SmartRent, Inc. expanding internationally?
What is the latest news about SmartRent, Inc.?
