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SmartRent, Inc. - SMRT STOCK NEWS

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.

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SmartRent, Inc. (SMRT) reported strong financial results for Q4 and full-year 2023, with revenue up 49% and 41% year-over-year, respectively. The company achieved positive Adjusted EBITDA for the first time in Q4 2023, with a net loss improvement of 85% and 64% for Q4 and full year, respectively. SmartRent ended the year with $216 million in cash and announced a $50 million share repurchase program. The company plans to invest in scaling its Community WiFi capabilities to tap into a multi-billion dollar market opportunity.
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Harris R. Heyer and Michael J. Holder, Partners of 10th Mountain Management LLC, issue an open letter to SmartRent, Inc. shareholders, expressing concern over a 70% decline in shares since merging with FWAA. Management criticized for downplaying new unit deployments and not addressing investor concerns adequately.
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SmartRent, Inc. (NYSE: SMRT) has announced the release of its fourth quarter and financial year 2023 results, along with a conference call hosted by CEO Lucas Haldeman and CFO Daryl Stemm. The press release and supporting materials will be available on the Company’s Investor Relations website. The conference call is scheduled for Tuesday, March 5, 2024, at 10:30 a.m. ET.
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SmartRent, Inc. (NYSE: SMRT) has announced the launch of Alloy SmartHome Hub+, the Company’s first thermostat with an integrated smart hub device developed under its Alloy SmartHome hardware brand. This innovative product operates on Z-Wave protocol and has less hardware to install and maintain. Alloy SmartHome Hub+ establishes a single interface to control connected smart home devices, enabling users to turn off multiple lights in a home at once, remotely lock and unlock doors, receive alerts and automatically notify maintenance when a sensor detects a leak.
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SmartRent, Inc. (NYSE: SMRT) announced the implementation of its access control and IoT solutions at 2,500 apartment homes in The Towbes Group portfolio. The Towbes Group plans to modernize the resident experience at all its multifamily residential communities by leveraging smart home technology provided by SmartRent. The implementation will begin at six communities this year, with installation scheduled at six more properties in the first quarter of 2024.
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SmartRent, Inc. (NYSE: SMRT) appoints Daryl Stemm as Chief Financial Officer, reaffirms Q4 2023 guidance. Stemm, with four decades of finance experience, replaces Hiroshi Okamoto. SmartRent expects $58M to $63M in Q4 2023 and aims for Adjusted EBITDA profitability of $0M to $2M.
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SmartRent (NYSE: SMRT) has been named on Deloitte’s 2023 Technology Fast 500™ list, recognizing innovative and rapidly growing companies in North America. The company develops software and hardware for rental housing operators, property managers, and site teams, prioritizing efficiency and a seamless user experience in modern living.
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SmartRent, Inc. (NYSE: SMRT) reported a 22% increase in revenue to $58.1 million and a 1,000% increase in gross profit to $13.5 million in Q3 2023. The company's cash and cash equivalents increased by $14 million to $211 million. SmartRent expects to achieve Adjusted EBITDA profitability in Q4 2023 and positive cash flow from operations within six months following.
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SmartRent, Inc. has released a research report titled 'Community WiFi: A Tactical Guide for the Multifamily Market'. The report, conducted by Parks Associates, aims to understand the competitive landscape and provide guidance to multifamily owners and operators in meeting the demand for connectivity. It includes insights from 2,000 apartment residents and 12 technology leaders in the multifamily housing market.
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SmartRent, Inc. to release Q3 2023 financial results and host conference call
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FAQ

What is the current stock price of SmartRent (SMRT)?

The current stock price of SmartRent (SMRT) is $1.58 as of December 20, 2024.

What is the market cap of SmartRent (SMRT)?

The market cap of SmartRent (SMRT) is approximately 309.1M.

What does SmartRent, Inc. do?

SmartRent, Inc. offers smart home and smart building technology solutions for property owners, managers, and residents.

Where does SmartRent, Inc. operate?

SmartRent operates mainly in the United States with a growing international presence.

What products does SmartRent, Inc. offer?

SmartRent provides smart locks, thermostats, lighting, sensors, and an all-in-one home control platform.

How does SmartRent, Inc. help property managers?

SmartRent offers a unified interface for property managers to monitor and control property assets, enhancing efficiency and cost savings.

Has SmartRent, Inc. partnered with other companies?

Yes, SmartRent collaborates with leading real estate firms to integrate smart technologies into large-scale developments.

What is the financial performance of SmartRent, Inc.?

SmartRent has shown robust revenue growth, driven by the increasing demand for smart home solutions.

What are the benefits of SmartRent, Inc.'s solutions for residents?

Residents benefit from enhanced home control, convenience, and security through SmartRent's smart home products.

How does SmartRent, Inc. generate revenue?

SmartRent generates revenue through the sale and integration of smart home devices and platforms to property managers and residents.

Is SmartRent, Inc. expanding internationally?

Yes, SmartRent is expanding its market footprint internationally, though the majority of revenue is currently generated from the United States.

What is the latest news about SmartRent, Inc.?

For the latest news and updates on SmartRent, Inc., please visit the company’s official website or news sections on leading financial platforms.

SmartRent, Inc.

NYSE:SMRT

SMRT Rankings

SMRT Stock Data

309.07M
173.71M
12.77%
59.4%
4.28%
Software - Application
Services-computer Integrated Systems Design
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United States of America
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