# SmartRent (SMRT.US)

Canonical: https://gigainvestors.com/s/SMRT

Analysis as of: 2026-10-16T07:31:58.987Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $1.19 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Howard Marks](https://gigainvestors.com/oc): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 91% since Oct 2021

Story as of 2026-10-16T10:01:29.703Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in software application; annual sales are USD 152.3 million.

- Source: https://www.sec.gov/Archives/edgar/data/1837014/000119312526089953/smrt-20251231.htm (filed 2026-03-04); FY2025: revenue 152326000; grossProfit 49869000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); SMRT.US: SmartRent, Inc., an enterprise real estate technology company, provides management software and applications to rental property owners and operators, property managers, homebuilders, developers, and residents in the United States and internationally. Its smart building hardware and cloud-based software-as-a-service solutions are designed to enhance visibility and control their real estate assets while providing all-in-one home control offerings for residents. The company's products and solutions include smart apartments and homes, access control for buildings, common areas, rental units, community and resident Wi-Fi, asset protection and monitoring, and self-guided tours. It also offers professional services to customers, which include training, installation, and support services. The company was founded in 2017 and is headquartered in Phoenix, Arizona.

### Why customers stay

Margins ranged from 20.9% to 34.5% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); FY2023: grossProfit / revenue = 20.9%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); FY2024: grossProfit / revenue = 34.5%.

- Source: https://www.sec.gov/Archives/edgar/data/1837014/000119312526089953/smrt-20251231.htm (filed 2026-03-04); FY2025: grossProfit / revenue = 32.7%.

### Where the cash goes

Paid no dividends in 5 years; bought back USD 4.9 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); Dividend observations: [[2021,0],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1837014/000119312526089953/smrt-20251231.htm (filed 2026-03-04); FY2025: cash repurchases 4889000 USD.

### Are managers owners

Insiders own 11.9% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); SMRT.US SharesStats.PercentInsiders = 11.871 percentage points; cache date 2026-10-05.

### What the price says

The price is 1.5 times annual sales; cash earnings are negative.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); Closing price 1.19 USD; reporting-to-trading FX 1; FY2025 annual sales per share 0.8030725594293517; price multiple 1.4818088179299658. FY2025 cash earnings/share -0.3213165400492411. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2021-02: $10.80 per share

- 2021-03: $10.00 per share

- 2021-04: $10.86 per share

- 2021-05: $10.40 per share

- 2021-06: $12.32 per share

- 2021-07: $12.40 per share

- 2021-08: $12.49 per share

- 2021-09: $13.02 per share

- 2021-10: $13.13 per share

- 2021-11: $10.53 per share

- 2021-12: $9.68 per share

- 2022-01: $7.68 per share

- 2022-02: $6.45 per share

- 2022-03: $5.06 per share

- 2022-04: $4.86 per share

- 2022-05: $6.01 per share

- 2022-06: $4.52 per share

- 2022-07: $5.66 per share

- 2022-08: $3.23 per share

- 2022-09: $2.27 per share

- 2022-10: $2.75 per share

- 2022-11: $2.43 per share

- 2022-12: $2.43 per share

- 2023-01: $2.92 per share

- 2023-02: $2.59 per share

- 2023-03: $2.55 per share

- 2023-04: $2.58 per share

- 2023-05: $3.60 per share

- 2023-06: $3.83 per share

- 2023-07: $3.98 per share

- 2023-08: $3.40 per share

- 2023-09: $2.61 per share

- 2023-10: $2.41 per share

- 2023-11: $3.13 per share

- 2023-12: $3.19 per share

- 2024-01: $2.95 per share

- 2024-02: $2.90 per share

- 2024-03: $2.68 per share

- 2024-04: $2.32 per share

- 2024-05: $2.36 per share

- 2024-06: $2.39 per share

- 2024-07: $1.84 per share

- 2024-08: $1.70 per share

- 2024-09: $1.73 per share

- 2024-10: $1.69 per share

- 2024-11: $1.77 per share

- 2024-12: $1.75 per share

- 2025-01: $1.47 per share

- 2025-02: $1.24 per share

- 2025-03: $1.21 per share

- 2025-04: $0.95 per share

- 2025-05: $0.84 per share

- 2025-06: $0.99 per share

- 2025-07: $1.01 per share

- 2025-08: $1.48 per share

- 2025-09: $1.41 per share

- 2025-10: $1.39 per share

- 2025-11: $1.72 per share

- 2025-12: $2.02 per share

- 2026-01: $1.62 per share

- 2026-02: $1.52 per share

- 2026-03: $1.50 per share

- 2026-04: $1.36 per share

- 2026-05: $1.26 per share

- 2026-06: $1.19 per share

- 2026-07: $1.01 per share

- 2026-08: $1.33 per share

- 2026-09: $1.18 per share

- 2026-10: $1.19 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1837014/000119312526089953/smrt-20251231.htm); period 2025-12-31, filed 2026-03-04.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.