UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 5, 2026 SmartRent, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 001-39991 85-4218526 (Commission File Number) (I.R.S. Employer Identification Number) 6811 E. Mayo Blvd., 4th Floor Phoenix, Ar ...

Company Overview - SmartRent (SMRT) is a leading company in providing smart home solutions, offering both smart software and devices [1] Product Offering - The company enables homeowners to have comprehensive visibility and full control over their real estate assets [1]

Core Insights - The German arms maker's forecasts for the year were below market expectations, leading to a decline in shares as investors reacted to the news [1] Company Summary - The company is an arms manufacturer based in Germany, and its financial outlook has not met the anticipated market performance, which has negatively impacted investor sentiment [1]

Japan's Eisai will licence Shanghai Henlius Biotech's lung cancer drug Hansizhuang, paying $75 million upfront and up to $313.34 million more if milestones are met, the Chinese drugmaker said on Thurs... ...

Group 1 - U.S. stock futures are lower, with Dow futures down approximately 100 points [1] - Glaukos Corp reported preliminary FY25 sales of $507 million, leading to a 12.1% drop in shares to $96.97 in pre-market trading [1] Group 2 - Briacell Therapeutics Corp experienced a significant decline of 53.1% to $5.12 after announcing a $30 million public offering [2] - Trip.com Group Ltd shares fell 9.3% to $68.55 amid an investigation by China's SAMR for potential anti-monopoly violations [2] - Pearson PLC shares decreased by 7.2% to $13.36 following a trading update for 2025 [2] - Olema Pharmaceuticals Inc shares declined 5.5% to $26.37 after a previous drop of 3% [2] - Fresenius Medical Care AG shares fell 4.8% to $21.79 [2] - Ambitions Enterprise Management Co LLC shares dropped 4.3% to $11.81 after a significant increase of 134% the previous day [2] - NovaBay Pharmaceuticals Inc shares decreased by 3.8% to $12.55 following a 3% drop on Tuesday [2] - SmartRent Inc shares fell 2.3% to $1.74 in pre-market trading [2]

Core Viewpoint - SmartRent has appointed Sangeeth Ponathil as Chief Information Officer to lead the company's technology strategy and drive digital transformation initiatives [2][4][6]. Company Overview - SmartRent, Inc. is a leading provider of smart communities and smart operations solutions for the rental housing industry, founded in 2017 [10]. - The company aims to automate operations, protect assets, reduce energy consumption, and enhance the resident experience through its end-to-end enterprise ecosystem [10]. Leadership Appointment - Sangeeth Ponathil brings over 25 years of experience in enterprise technology strategy and will be responsible for architecting scalable IT systems and infrastructure to support SmartRent's growth [4][5]. - His previous roles include Senior Vice President of Technology at loanDepot, where he led a team of over 250 technology professionals, and Senior Director of Information Technology at YUM Brands for Pizza Hut [6][8]. Strategic Focus - Under Ponathil's leadership, SmartRent will focus on expanding its IoT and smart operations platform, utilizing AI-driven insights and intelligent automation [5][6]. - Ponathil expressed enthusiasm for SmartRent's direction and the potential of smart home IoT and property operations [7][8]. Transition and Acknowledgment - The appointment coincides with the departure of Chief Technology Officer Isaiah DeRose-Wilson, who will assist in the transition [8][9]. - SmartRent's leadership expressed gratitude for DeRose-Wilson's contributions in developing the company's IoT infrastructure and platform [9].

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $36.2 million, down 11% year over year, primarily due to a strategic shift away from bulk hardware sales towards a more sustainable SaaS-focused revenue mix [14] - SaaS revenue reached $14.2 million, increasing 7% year over year, now representing 39% of total revenue compared to 33% in the same period last year [14] - Adjusted EBITDA loss improved by 23% to a loss of $2.9 million, while net loss improved 36% year over year to a loss of $6.3 million [18] - Operating expenses decreased by 34% year over year to $16.6 million, aided by accrual reversals of approximately $2.5 million [16][18] Business Line Data and Key Metrics Changes - Hardware revenue totaled $11.5 million, reflecting a 38% decline year over year due to the strategic shift mentioned earlier [14] - Professional services revenue increased by 113% year over year to $7 million, driven by higher installation volume and improved project efficiency [15] - Annual recurring revenue reached $56.9 million, up 7% year over year, indicating steady expansion of the recurring base [15] Market Data and Key Metrics Changes - The installed base reached 870,000 units, up 11% from the prior year, with 83,000 net new units added since the same quarter last year [15] - The company deployed more than 22,000 new units during the quarter, a 49% increase compared to the prior year period [15] Company Strategy and Development Direction - The company aims to simplify and automate key internal processes over the next eighteen months, expecting significant financial and operational benefits starting in 2026 [8] - The focus remains on building a durable revenue growth platform and achieving higher levels of sustainable profitability in 2026 and beyond [9] - The company is committed to maintaining cost discipline and operational rigor to support future growth [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of the installed unit base next year, citing improvements in the sales organization and customer engagement [25][36] - The macro environment presents challenges, but there is confidence in the pipeline of potential unit installations [27][35] - Management noted strong customer relationships, with a net revenue retention rate well above 100%, indicating customer satisfaction and loyalty [11] Other Important Information - The company ended the quarter with $100 million in cash, no debt, and $75 million in undrawn credit, providing a strong balance sheet for future investments [18] - A new leader was added to the team to drive expansion and improve internal processes [7] Q&A Session Summary Question: SaaS revenue growth lower than deployed unit growth - Management acknowledged that the SaaS ARPU was impacted by non-IoT related adjustments and expects a correction in Q4 [22][23] Question: Progress within the sales organization - Management indicated that the company can support a deployment capacity of 20,000 to 25,000 units per quarter, with potential for more based on current sales and installation infrastructure [26][28] Question: Feedback from stakeholders - Management reported positive feedback from customers regarding the value of solutions and strong collaboration, with minimal customer turnover [32][34] Question: Future growth rate expectations - Management expects a smoother growth rate in 2026 as bulk hardware sales normalize, leading to a closer coupling of hardware revenue with deployment volume [40] Question: Financial discipline moving forward - Management confirmed a commitment to maintaining disciplined financial practices and evaluating the best use of available cash for reinvestment [41]

Financial Performance - Total revenue decreased by 11% year-over-year to $36.2 million, primarily due to a strategic shift away from hardware-led growth [6, 9] - SaaS revenue grew by 7% year-over-year to $14.2 million, representing 39% of total revenue [4, 10, 13, 19] - Annual Recurring Revenue (ARR) increased by 7% year-over-year to $56.9 million [4, 6, 19] - Net loss improved by $3.6 million year-over-year, from $(9.9) million to $(6.3) million [6] - Adjusted EBITDA improved by $0.9 million year-over-year to $(2.9) million [6] - The company maintains a strong cash balance of $100 million with no debt and a $75 million credit facility [4, 6, 21] Operational Metrics - Units deployed increased by 11% year-over-year to approximately 870,000 units [4, 6, 15, 22] - Customer Net Revenue Retention is greater than 100%, indicating strong customer loyalty [4, 15, 19] - Customer Churn is 0.05%, demonstrating high customer retention [4, 15, 19] Strategic Initiatives - The company completed a $30 million cost reduction plan, positioning it for run-rate neutrality exiting 2025 [4, 20] - The company is focused on shifting away from hardware-only sales towards a recurring revenue model [4, 7, 13]

Revenue Performance - Total revenue for Q3 2025 was $36.2 million, a decrease of 10.4% compared to $40.5 million in Q3 2024[19] - Hardware revenue decreased to $11.5 million in Q3 2025 from $18.7 million in Q3 2024, representing a decline of 38.5%[19] - Professional services revenue increased to $7.0 million in Q3 2025, up 112.5% from $3.3 million in Q3 2024[19] - Total revenue for the nine months ended September 30, 2025 was $115,854, down 17% from $139,517 in the same period of 2024[93] - Total revenue for the three months ended September 30, 2025, was $36,202, a decrease of 10.4% compared to $40,510 for the same period in 2024[164] - Revenue from the United States for Q3 2025 was $36,097, down 9.8% from $40,030 in Q3 2024[93] - Hosted services revenue for Q3 2025 was $17,661, a slight decrease of 4.5% from $18,495 in Q3 2024[93] - SaaS revenue increased to $14,237 for the three months ended September 30, 2025, compared to $13,318 in 2024, reflecting a growth of 6.9%[164] Financial Losses and Improvements - Net loss for Q3 2025 was $6.3 million, compared to a net loss of $9.9 million in Q3 2024, showing an improvement of 36.7%[19] - For the nine months ended September 30, 2025, the net loss was $57,314 thousand, compared to a net loss of $22,220 thousand for the same period in 2024, representing an increase of 157%[26] - The net loss for the three months ended September 30, 2025, was $6,270, compared to a net loss of $9,923 in the same period of 2024, indicating an improvement of 36.7%[164] Assets and Liabilities - Total assets decreased to $335.8 million as of September 30, 2025, down from $420.2 million as of December 31, 2024, a reduction of 20.1%[17] - Total liabilities decreased to $101.4 million as of September 30, 2025, down from $130.7 million as of December 31, 2024, a reduction of 22.4%[17] - Cash and cash equivalents decreased to $100.0 million as of September 30, 2025, compared to $142.5 million as of December 31, 2024, a decline of 29.7%[17] - Total cash, cash equivalents, and restricted cash at the end of the period was $100,022 thousand, down from $163,650 thousand at the end of September 30, 2024, reflecting a decrease of 39%[26] Expenses and Investments - Research and development expenses for Q3 2025 were $6.1 million, a slight decrease from $6.6 million in Q3 2024[19] - Operating expenses for the three months ended September 30, 2025, totaled $16,596, a decrease of 34.3% from $25,194 in 2024[164] - Cash used in operating activities for the nine months ended September 30, 2025, was $29,232 thousand, up from $20,898 thousand in 2024, indicating a 40% increase[26] - The company incurred $3,552,000 in capital expenditures for property and equipment during the nine months ended September 30, 2025, compared to $524,000 in the same period in 2024, indicating a significant increase in investment[26] Stock and Equity - The company reported a total of 189,196 shares outstanding as of September 30, 2025, compared to 192,049 shares as of December 31, 2024[17] - Stock-based compensation for the quarter was recorded at $2,958,000[23] - The company repurchased Class A common stock amounting to $17,214,000 during the quarter[23] - Stock-based compensation expense recognized for the nine months ended September 30, 2025 was $692, a decrease of 55% from $1,528 for the same period in 2024[132] - The company has not drawn on the $75,000 Senior Revolving Facility as of September 30, 2025, which is set to mature in December 2026[112] Legal Matters - The company recorded a legal expense of $5,300 related to a supplier dispute during the three months ended March 31, 2024[154] - The settlement of a class action lawsuit related to the merger with SmartRent.com, Inc. is expected to cost $11,375, pending court approval[155] - The Company continues to negotiate settlements related to the 2024 Class Action, with a portion of the settlement funded by the primary D&O insurance carrier[156] Impairments and Write-offs - The company reported a goodwill impairment of $24,929 thousand for the nine months ended September 30, 2025, while there was no goodwill impairment recorded in the same period of 2024[26] - The company recorded a goodwill impairment charge of $24,929 during the three months ended March 31, 2025, due to a significant decline in stock price and market capitalization[49] - Inventory write-downs for the three months ended September 30, 2025, amounted to $3.258 million, compared to $2.596 million for the same period in 2024, reflecting an increase of approximately 25.5%[100] - The company recorded $1.794 million of inventory write-offs related to the sunsetting of its parking management solution during the three months ended September 30, 2025[100]

Financial Performance - Total revenue for Q3 2025 was $36.2 million, an 11% decrease from the prior year, primarily due to a strategic shift away from bulk hardware sales [4] - Annual Recurring Revenue (ARR) increased by 7% to $56.9 million, now representing 39% of total revenue [4] - The net loss improved by $3.6 million to $(6.3) million, and Adjusted EBITDA improved by $0.9 million to $(2.9) million, mainly due to the cost reduction program [4] - Total revenue for Q3 2025 was $36,202, a decrease of 10.3% compared to $40,510 in Q3 2024 [32] - Net loss for the nine months ended September 30, 2025, was $57,314, compared to a net loss of $22,220 for the same period in 2024, indicating an increase in losses of 157.5% [37] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(16,646), compared to $(2,523) for the same period in 2024 [39] Operational Metrics - Units Deployed reached 870,230, an 11% increase year-over-year, with 22,644 New Units Deployed during the quarter, a 49% increase from the prior year [7] - Units Booked totaled 22,080, representing a 30% increase driven by investments in the sales organization [7] Revenue Composition - SaaS revenue represented more than 39% of total revenue in Q3 2025, up from 33% in the prior year [6] - Hardware revenue decreased to $11,506 in Q3 2025 from $18,707 in Q3 2024, representing a decline of 38.5% [32] Expenses and Cost Management - Operating expenses declined to $16.6 million, an $8.6 million or 34% decrease from the prior year [8] - Research and development expenses for Q3 2025 were $6,149, slightly down from $6,596 in Q3 2024, a decrease of 6.8% [32] - The company completed a $30 million cost reduction program, aiming for cash flow neutrality by the end of 2025 [3] Financial Position - Cash position at the end of Q3 was $100 million, with no debt and a $75 million undrawn credit facility, indicating strong liquidity [3] - Total current assets decreased to $201,465 as of September 30, 2025, down from $257,650 as of December 31, 2024, a decline of 21.8% [35] - Cash and cash equivalents decreased to $100,022 as of September 30, 2025, from $142,482 at the beginning of the period, a decrease of 29.7% [36] - Total liabilities decreased to $101,385 as of September 30, 2025, from $130,741 as of December 31, 2024, a reduction of 22.5% [35] Impairment and Shares - The company reported an impairment charge of $24,929 for goodwill in the nine months ended September 30, 2025 [32] - The weighted-average number of shares used in computing net loss per share was 189,835 for the nine months ended September 30, 2025 [32]