Company Overview - SmartRent (NYSE: SMRT) is a provider of smart home and smart property solutions specifically for the multifamily industry [1] - The company went public via SPAC in 2021 and has faced challenges related to the clarity of its vision since then [1] Investment Highlights - The article mentions notable investment coverage for other companies, including ADTH and LUMN, with specific buy prices and acquisition details [1] - ADTH was first covered with a "Buy" rating at $1.24 in September 2023, followed by a second coverage at $1.20 in November 2023, and was acquired for $3.21 per share in June 2024 [1] - LUMN was first covered with a "Buy" rating at $1.39 in September 2023, followed by a second coverage at $1.18 in November 2023, and a downgrade after selling the full position at $6.08 in October 2024 [1] Analyst Position - The company has a beneficial long position in the shares of SmartRent through stock ownership, options, or other derivatives [1]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $38.3 million, down 7% sequentially from $41.4 million in Q1 and down 21% year over year, primarily due to the shift away from bulk hardware sales [14][15] - Hardware revenue totaled $15.1 million, representing a 20% decrease sequentially and a 39% decline year over year [15] - SaaS revenue reached $14.2 million, comprising 37% of total revenue, up from 34% in Q1 and 26% year over year [16][18] - Annual recurring revenue increased to $56.9 million, up 11% year over year [17] - Net losses increased to $10.9 million compared to $4.6 million in the prior year quarter [21] Business Line Data and Key Metrics Changes - Professional services revenue was $4.3 million, up 10% sequentially but down 26% year over year [15] - Hosted services revenue reached $18.8 million, representing a 1% sequential growth and a 5% increase year over year [15] - SaaS gross profit was $10 million, up 1% sequentially and 4% year over year, resulting in a gross margin of approximately 70% [18] Market Data and Key Metrics Changes - Approximately 850,000 units were deployed, an increase of 3% sequentially and 10% year over year [18] - The company booked over 24,000 new units in the quarter, marking the highest quarterly booking performance in over a year [19] Company Strategy and Development Direction - The company aims to reset its cost structure, return to profitability, and accelerate top-line growth, with a focus on operational efficiency and product innovation [8][10] - A $10 million investment was made to enhance product development and strengthen the go-to-market team, which is beginning to yield results [11] - The company is transitioning towards a more predictable recurring revenue model, moving away from one-time bulk hardware deals [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve cash flow neutrality and adjusted EBITDA profitability by the end of 2025 [10][21] - The CEO highlighted the importance of customer relationships and the potential for growth within the existing customer base [32] - There is a focus on leveraging AI to enhance operational efficiency and customer value [40][54] Other Important Information - The company has a significant cash balance of $105 million and no debt, providing a strong financial position for future investments [21][22] - Cost reduction initiatives are expected to yield $30 million in annualized savings, primarily from workflow optimization and reduced staffing levels [9][10] Q&A Session Summary Question: Details on the $20 million incremental cost savings - Management indicated that the savings primarily come from staffing reductions and third-party spending, with potential for further efficiencies [26][27] Question: Holistic view on evolving SmartRent's strategy - The CEO emphasized the importance of customer relationships and the potential for growth in the installed base, along with plans to invest in AI [29][32] Question: Clarity on the transition to SaaS revenue model - Management noted that the transition will lead to a more predictable revenue trajectory, with expectations for growth in 2026 [42][45] Question: Expectations for adjusted EBITDA and free cash flow neutrality - Management believes they are positioning for breakeven by the end of the year, with plans for profitable growth in the future [51][52] Question: Infusion of AI into products - The CEO discussed plans to leverage AI for operational efficiency and customer decision-making, with a focus on enhancing product offerings [54][55]

Smart Community and Smart Operations Solutions for the Rental Housing Industry QUARTERLY EARNINGS UPDATE Q2 FY 2025 August 6, 2025 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39991 SMARTRENT, INC. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) 6811 E. Mayo Blvd., 4th Floor Pho ...

Exhibit 99.1 SmartRent Reports Second Quarter 2025 Financial Results Company Expands Cost Reduction Program to $30 Million Targeting Cash Flow Neutrality exiting 2025 Phoenix, Ariz., August 6, 2025 – (BUSINESS WIRE) – SmartRent, Inc. (NYSE: SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today reported financial results for the three months ended June 30, 2025. Second Quarter 2025 Highlights: "SmartRent's ...

Financial Performance - Total revenue decreased by 18% year-over-year to $41.3 million, primarily due to a strategic shift away from hardware-led growth towards SaaS [13, 16] - Annual Recurring Revenue (ARR) grew by 17% year-over-year to $55.9 million, representing approximately 34% of total revenue [4, 17, 30] - Net loss was $(40.2) million, including a goodwill impairment charge of $24.9 million [13] - Adjusted EBITDA decreased to $(6.4) million, compared to $0.4 million in the same quarter of the prior year, mainly due to expenses related to a legal matter [13] - The company repurchased approximately 1.0 million shares at an aggregate cost of $1.2 million in Q1, with $20.4 million remaining in the authorized program [27] Operational Metrics - Units Deployed increased by 10% year-over-year to over 827,000 [6, 13, 22] - SaaS Average Revenue Per Unit (ARPU) improved by 5% year-over-year to $5.69 [13, 25] - Customer Net Revenue Retention was 114%, and Customer Churn was 0.02%, indicating strong customer loyalty [22, 30] Strategic Initiatives - The company is focused on driving adjusted EBITDA profitability through recurring revenue, platform differentiation, and operational excellence [10] - Over $10 million in cost reductions have been completed [7, 26] - The company has a strong cash position with $125.6 million in cash and no debt, along with a $75 million undrawn credit facility [7, 13]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $41.3 million, down 18% year over year [23] - Hardware revenue decreased by 35% year over year to $18.8 million, reflecting a strategic shift away from hardware sales [23] - SaaS revenue grew by 17% year over year to $14 million, supported by improved average revenue per user (ARPU) and strong customer retention [24] - Gross margin for Q1 was 32.8%, down from 38.5% in the prior year, primarily due to lower hardware volume [24] - Net losses increased to $40.2 million, compared to $7.7 million in the same period last year, largely due to a non-cash goodwill impairment charge of $24.9 million [25] Business Line Data and Key Metrics Changes - SaaS ARPU increased to $5.69, up 5% from the prior year, while units booked SaaS ARPU reached $10.28, a 44% increase year over year [24] - SaaS gross margin remained strong at 70.7%, with expectations for further expansion over time [25] Market Data and Key Metrics Changes - The total addressable market (TAM) is estimated to be between $11 billion and $13 billion, with a current target market of $3 billion to $4 billion for Class A and B buildings [18] - Customer retention rate has remained above 99.9% over the past three years, indicating strong customer loyalty [16] Company Strategy and Development Direction - The company is focusing on sustainable and predictable annual recurring revenue (ARR) growth, moving away from hardware sales to a hardware-enabled SaaS model [13] - Strategic pillars include platform superiority, operational excellence, and collaborative innovation [14] - The company is undergoing significant restructuring to enhance scalability and customer-centric operations [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to return to sustainable growth and profitability, despite current execution challenges [20] - The focus for 2025 is on building a foundation for future growth, with expectations for evidence of progress in the coming quarters [20] - Management remains cautious about macroeconomic factors impacting customer purchasing decisions [28] Other Important Information - The company has executed over $10 million in annualized cost savings to improve cash flow and return to profitability [26] - The company ended the quarter with $125.6 million in cash and no debt, providing a strong balance sheet for future operations [27] Q&A Session Summary Question: Do the $10 million savings represent the full benefit expected? - The $10 million in annualized savings were initiated in April, so the full effect will not be seen until Q3 [31] Question: Is the sales organization build-out sufficient for scalability? - The initial build-out of the sales organization is complete, but new hires will take time to ramp up [33] Question: What qualities are being sought in the new CEO? - The company is looking for a CEO with a proven track record in operational execution within a recurring revenue business at scale [40]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $41.3 million, down 18% year over year [20] - Hardware revenue decreased by 35% year over year to $18.8 million, reflecting a strategic shift away from hardware sales [20] - SaaS revenue grew by 17% year over year to $14 million, supported by improved ARPU and strong customer retention [21] - Gross margin for Q1 was 32.8%, down from 38.5% in the prior year, primarily due to lower hardware volume [21][22] - Net losses increased to $40.2 million, compared to $7.7 million in the same period last year, largely due to a non-cash goodwill impairment charge of $24.9 million [22] Business Line Data and Key Metrics Changes - SaaS ARPU increased to $5.69, up 5% from the prior year, while units booked SaaS ARPU reached $10.28, a 44% increase year over year [21] - SaaS gross margin remained strong at 70.7%, with expectations for further expansion over time [22] Market Data and Key Metrics Changes - The total addressable market (TAM) is estimated to be between $11 billion to $13 billion, with a target market of $3 billion to $4 billion for Class A and B buildings [15] - Customer retention rate has remained above 99.9% over the past three years, indicating strong customer loyalty [14] Company Strategy and Development Direction - The company is focusing on sustainable and predictable ARR growth, emphasizing a hardware-enabled SaaS model rather than hardware sales [11] - Strategic pillars include platform superiority, operational excellence, and collaborative innovation [12] - The company has initiated a significant restructuring to enhance scalability and customer focus [10] Management's Comments on Operating Environment and Future Outlook - Management believes that execution challenges are largely solvable and that improving operating effectiveness will unlock scalable long-term growth [14] - The company aims to achieve non-GAAP adjusted EBITDA profitability while maintaining long-term growth [17] - Management remains confident in the company's strategy and market position despite current challenges [26] Other Important Information - The company has executed over $10 million in annualized cost savings to improve cash flow and return to profitability [23] - The company ended the quarter with $125.6 million in cash and no debt, providing a strong balance sheet for future operations [24] Q&A Session Summary Question: Do the $10 million savings represent the full benefit expected? - The $10 million savings are actions taken in April, and the full effect will be seen in Q3 [28] Question: Is the sales organization build-out sufficient for scalability? - The initial build-out is complete, but new salespeople require time to ramp up [29] Question: How much of the organizational changes are on hold due to the CEO search? - The company is not pausing any changes; the strategy is well evolved and will continue to be executed [32] Question: What are the qualities sought in the new CEO? - The new CEO should have a proven track record in operational execution within a recurring revenue business at scale [37] Question: How is the company addressing potential tariff impacts? - The company has a potential $2 million exposure related to tariffs and is evaluating changes in manufacturing locations to mitigate costs [42] Question: When will the benefits of the go-to-market team be evident? - The timeline is uncertain due to various factors, but 2025 is expected to be a foundation-building year with some growth [44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39991 SMARTRENT, INC. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) 6811 E. Mayo Blvd., 4th Floor Ph ...

Group 1 - SmartRent, Inc. (SMRT) has experienced significant selling pressure, resulting in a 37.6% decline in stock price over the past four weeks, but it is now considered to be in oversold territory with potential for recovery [1] - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold stocks, with a reading below 30 typically indicating oversold conditions [2] - SMRT's current RSI reading is 27.16, suggesting that the heavy selling may be exhausting itself and a trend reversal could be imminent [5] Group 2 - Analysts have raised earnings estimates for SMRT, with a 53.3% increase in the consensus EPS estimate over the last 30 days, indicating potential price appreciation [7] - SMRT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the likelihood of a turnaround [8]