SmartRent Inc. Class A Common Stock (SMRT)

FairStock Score: 56/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits and need little capital. SmartRent does neither yet. In fiscal 2023, ended 2023-12-31, revenue was $236.8M and net loss was $34.6M. In fiscal 2024, ended 2024-12-31, revenue fell to $174.9M and net loss was $33.6M. In fiscal 2025, ended 2025-12-31, revenue was $152.3M and net loss widened to $60.6M. That is not growth; it is contraction plus red ink. The latest quarter, fiscal Q2 2026 ended 2026-06-30, had revenue $39.8M and net loss $5.6M, better than fiscal Q2 2025's $38.3M revenue and $10.9M net loss, so there are signs of cost improvement. But trailing free cash flow is negative $6.4M, and FairStock's FCF yield is -2.8%. The balance sheet shows little leverage: D/E 0.02, which helps. Still, FairStock's Altman Z-Score is 0.55, a distress signal, and ROE is -8.45%. At the 2026-10-13 close of $1.21, P/B is 1.03 and P/E is -12.10. Paying about book value for a loss-making, cash-burning company may not be a bargain if book value shrinks. The FairStock Score is 56/100 and the Lynch category is none because of losses in each of the last four years. I see no margin of safety and no demonstrated moat. Until profits and free cash flow arrive, this is speculation, not investment.

In plain English: SmartRent sells software and smart-home hardware to rental property owners and managers. The business is still losing money, and its yearly revenue shrank from 2023 to 2025, though the latest quarter showed a smaller loss than a year earlier. At $1.21, the stock trades near its accounting value, but with no profits and negative cash flow, the price looks speculative rather than clearly cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer