SmartRent, Inc. (NYSE: SMRT)

SmartRent, Inc. is an enterprise real estate technology company that provides a comprehensive management platform designed for property owners, managers and residents. The company offers a suite of products and services including cloud-based software-as-a-service solutions enabled by smart building hardware to provide seamless visibility and control over real estate assets. Its platform aims to lower operating costs, increase revenues, mitigate operational friction, and protect assets while delivering an elevated living experience for residents. SmartRent, Inc. operates in the enterprise smart home solutions industry within the residential real estate technology sector.

SmartRent, Inc. generates revenue primarily from three sources: the direct sale of hosted services through subscription fees for access controls, asset monitoring, WiFi, and related services; the sale and delivery of smart home devices such as Hub Devices, door locks, thermostats, sensors, and light switches; and the installation and implementation of smart home devices that enable its Hosted Services. The company serves property owners, managers, and residents across multifamily and single-family rental sectors.

The company operates through the following segments: Smart Communities Solutions and Smart Operations Solutions.

• Smart Communities Solutions is a collection of integrated software and hardware designed to enhance community functionality and integration. It includes Smart Apartments, Access Control, Self-Guided Tours, and Package Management. Smart Apartments connects all smart devices in a community to a single dashboard for remote management of unit access, climate settings, and building access. Access Control is a cloud-based system that manages building entry and common areas using control panels and readers. Self-Guided Tours allows prospective renters to tour properties remotely without staff presence. Package Management transforms package handling through automated tracking and resident notification.

• Smart Operations Solutions encompasses integrated software solutions focused on centralizing community operations. It includes Work Management, Answer Automation, Audit Management, and Inspection Management. Work Management enables on-site teams to manage tasks and preventative maintenance via a mobile device. Answer Automation automates leasing and resident call handling using natural language processing. Audit Management provides quick determination of financial accuracy through consolidated review of rent rolls and lease files. Inspection Management automates property inspections with mobile access, customizable forms, and real-time cost tracking.

SmartRent, Inc. believes it is a category leader in the enterprise smart home solutions industry. The company differentiates itself through an integrated solution that combines enterprise software, hardware, and resident applications. Its competitive strengths include hardware agnosticism, open architecture compatible with major property management systems like Yardi and Entrata, and in-house professional services ensuring consistent quality. The company faces competition from firms offering singular point solutions or closed-architecture hardware but believes its holistic approach meets enterprise management and security requirements more effectively.

As of December 31, 2025, SmartRent, Inc. had approximately 600 customers, including many of the largest multifamily residential owners in the United States. The company also serves some of the largest single-family rental homeowners, homebuilders, and iBuyers in the United States. Its customers collectively own or operate approximately 6.6 million rental units, representing about 13% of the U. S. market for institutionally owned multifamily rental units and single-family rental homes.