SmartRent (SMRT) Q2 Revenue Falls 21%
Financial Performance: SmartRent reported Q2 2025 GAAP revenue of $38.3 million, falling short of analyst expectations and marking a 21% year-over-year decline due to reduced hardware sales. Adjusted EBITDA shifted from a profit to a loss of $(7.3) million, while annual recurring revenue (ARR) increased by 11% to $56.9 million.
Strategic Shift: The company is transitioning towards a SaaS-focused business model, aiming for higher margins and predictable revenue, despite facing challenges such as declining new unit bookings and ongoing net losses. Management emphasizes the importance of growing SaaS revenue and achieving cash flow neutrality by the end of 2025.
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Fastest News Alerts: Benzinga Pro offers real-time intelligence and news alerts to help traders stay informed and make winning trades in the stock market.
Exclusive Community Access: Joining Benzinga Pro connects users with over 10,000 serious traders and provides access to exclusive stories and insights from Benzinga reporters.
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- Global Market Expansion: In 2025, smart successfully entered 10 new international markets, expanding its operations to 39 countries and regions, significantly enhancing brand influence and laying a solid foundation for future growth.
- Retail Network Growth: smart's global retail network grew by 25% over the past year to 688 outlets, with a remarkable 130% increase in new markets across Southeast Asia and Latin America, which will enhance the brand's market penetration.
- Product Line Expansion: In 2026, smart will launch two new models, the #2 and #6 EHD, marking further innovation and market segmentation in the electric vehicle sector, expected to attract more consumers.
- Customer Service Enhancement: By utilizing AI tools, smart improved customer inquiry response times by 40% in 2025, which not only boosts customer satisfaction but also strengthens brand loyalty and market competitiveness.
smart Expands Global Operations to 39 Markets with 10 New Launches in 2025
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- Retail Network Growth: smart's global retail network grew by 25% over the past year to 688 outlets, with a remarkable 130% increase in new markets across Southeast Asia and Latin America, which will enhance the brand's market penetration.
- Product Line Expansion: smart plans to launch two new models, #2 and #6, in 2026, further diversifying its product portfolio and entering new market segments, which is expected to attract more consumers.
- Customer Service Enhancement: By utilizing AI tools, smart improved customer inquiry response times by 40% in 2025, not only boosting customer satisfaction but also enhancing brand loyalty.
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New Appointment: SmartRent, Inc. has appointed Sangeeth Ponathil as Chief Information Officer to lead the company's technology strategy and roadmap, leveraging his 25 years of experience in enterprise technology.
Focus on Innovation: Ponathil will oversee the development of scalable IT systems and infrastructure, enhancing SmartRent's IoT and smart operations platform with AI-driven insights and intelligent automation.
Leadership Transition: The appointment coincides with the departure of Chief Technology Officer Isaiah DeRose-Wilson, who will assist Ponathil during the transition period.
Company Overview: Founded in 2017, SmartRent provides smart community solutions for the rental housing industry, focusing on automating operations and enhancing the resident experience for top multifamily operators.
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Current Stock Performance: As of Monday, shares of ZipRecruiter closed at $3.48, Nomad Foods at $15.35, and Micron Technology at $123.75, reflecting the impact of these analyst ratings on market performance.
Keefe, Bruyette & Woods Maintains Market Perform on SmartRent, Raises Price Target to $1.45
Fastest News Alerts: Benzinga Pro offers real-time intelligence and news alerts to help traders stay informed and make winning trades in the stock market.
Exclusive Community Access: Joining Benzinga Pro connects users with over 10,000 serious traders and provides access to exclusive stories and insights from Benzinga reporters.
