SmartRent (SMRT)
Market Price (8/1/2026): $1.01 | Market Cap: $193.6 MilSector: Information Technology | Industry: Application Software
SmartRent (SMRT)
Market Price (8/1/2026): $1.01Market Cap: $193.6 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -48% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% Megatrend and thematic driversMegatrends include Smart Buildings & Proptech. Themes include IoT for Buildings, Building Management Systems, and Real Estate Data Analytics. | Weak multi-year price returns2Y Excs Rtn is -96%, 3Y Excs Rtn is -138% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -28 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -9.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.2%, Rev Chg QQuarterly Revenue Change % is -6.4% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -13% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -17% Key risksSMRT key risks include [1] its history of persistent net losses and a significant challenge in achieving profitability, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -48% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech. Themes include IoT for Buildings, Building Management Systems, and Real Estate Data Analytics. |
| Weak multi-year price returns2Y Excs Rtn is -96%, 3Y Excs Rtn is -138% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -28 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -9.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.2%, Rev Chg QQuarterly Revenue Change % is -6.4% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -13% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -17% |
| Key risksSMRT key risks include [1] its history of persistent net losses and a significant challenge in achieving profitability, Show more. |
Qualitative Assessment
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SmartRent (SMRT) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. SmartRent's financial results for fiscal Q1 2026, which ended on March 31, 2026, showed revenue that slightly missed analyst expectations, coupled with ongoing unprofitability. The company reported revenue of $36.63 million, falling marginally short of the consensus estimate of $36.82 million. While the Earnings Per Share (EPS) of ($0.02) met the consensus estimate, the company continued to report a negative net margin of 16.58% and a negative return on equity of 10.61%. This sustained lack of profitability and a slight revenue miss likely contributed to investor concern.
2. Persistent negative profitability and anticipation of continued losses have weighed on investor confidence. SmartRent has consistently demonstrated negative profitability metrics, as evidenced by its Q1 2026 results. Furthermore, analysts anticipate a continued loss per share of ($0.02) for fiscal Q2 2026, which ended June 30, 2026. This ongoing outlook for unprofitability has likely contributed to the downward pressure on the stock.
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SmartRent (SMRT) stock has lost about 25% since 4/30/2026 because of the following key factors:
1. SmartRent's financial results for fiscal Q1 2026, which ended on March 31, 2026, showed revenue that slightly missed analyst expectations, coupled with ongoing unprofitability. The company reported revenue of $36.63 million, falling marginally short of the consensus estimate of $36.82 million. While the Earnings Per Share (EPS) of ($0.02) met the consensus estimate, the company continued to report a negative net margin of 16.58% and a negative return on equity of 10.61%. This sustained lack of profitability and a slight revenue miss likely contributed to investor concern.
2. Persistent negative profitability and anticipation of continued losses have weighed on investor confidence. SmartRent has consistently demonstrated negative profitability metrics, as evidenced by its Q1 2026 results. Furthermore, analysts anticipate a continued loss per share of ($0.02) for fiscal Q2 2026, which ended June 30, 2026. This ongoing outlook for unprofitability has likely contributed to the downward pressure on the stock.
3. Cautious analyst sentiment and low average price targets have exerted downward pressure on the stock. As of July 29, 2026, analyst sentiment remained cautious, with SmartRent carrying a "Reduce" consensus rating. The average price target set by analysts was $1.20, significantly lower than the approximate starting price of $1.35 in early May 2026, suggesting limited upside potential in the near term.
4. A history of frequently lowering financial guidance has eroded investor confidence in future performance. SmartRent has a track record of adjusting its financial outlook downwards, having lowered its guidance 12 times out of 20 updates between August 2022 and February 2026. For example, on February 5, 2026, the company lowered its fiscal Q4 2025 revenue forecast from a range of $40.50 million - $41.50 million to $36.00 million - $37.00 million. This pattern of reduced expectations has likely contributed to investor skepticism regarding the company's growth trajectory and ability to meet projections.
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Stock Movement Drivers
Fundamental Drivers
The -25.7% change in SMRT stock from 4/30/2026 to 7/31/2026 was primarily driven by a -23.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 7312026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.36 | 1.01 | -25.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 152 | 150 | -1.7% |
| P/S Multiple | 1.7 | 1.3 | -23.4% |
| Shares Outstanding (Mil) | 189 | 192 | -1.3% |
| Cumulative Contribution | -25.7% |
Market Drivers
4/30/2026 to 7/31/2026| Return | Correlation | |
|---|---|---|
| SMRT | -25.7% | |
| Market (SPY) | 3.9% | 14.8% |
| Sector (XLK) | 9.9% | 15.8% |
Fundamental Drivers
The -37.7% change in SMRT stock from 1/31/2026 to 7/31/2026 was primarily driven by a -35.9% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 7312026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.62 | 1.01 | -37.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 151 | 150 | -1.0% |
| P/S Multiple | 2.0 | 1.3 | -35.9% |
| Shares Outstanding (Mil) | 188 | 192 | -1.7% |
| Cumulative Contribution | -37.7% |
Market Drivers
1/31/2026 to 7/31/2026| Return | Correlation | |
|---|---|---|
| SMRT | -37.7% | |
| Market (SPY) | 8.3% | 33.4% |
| Sector (XLK) | 22.0% | 30.0% |
Fundamental Drivers
The 0.0% change in SMRT stock from 7/31/2025 to 7/31/2026 was primarily driven by a 10.3% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 7312026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.01 | 1.01 | 0.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 166 | 150 | -9.7% |
| P/S Multiple | 1.2 | 1.3 | 10.3% |
| Shares Outstanding (Mil) | 192 | 192 | 0.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
7/31/2025 to 7/31/2026| Return | Correlation | |
|---|---|---|
| SMRT | 0.0% | |
| Market (SPY) | 19.2% | 33.4% |
| Sector (XLK) | 34.0% | 27.3% |
Fundamental Drivers
The -74.6% change in SMRT stock from 7/31/2023 to 7/31/2026 was primarily driven by a -68.0% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 7312026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.98 | 1.01 | -74.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 196 | 150 | -23.5% |
| P/S Multiple | 4.0 | 1.3 | -68.0% |
| Shares Outstanding (Mil) | 198 | 192 | 3.5% |
| Cumulative Contribution | -74.6% |
Market Drivers
7/31/2023 to 7/31/2026| Return | Correlation | |
|---|---|---|
| SMRT | -74.6% | |
| Market (SPY) | 68.9% | 38.9% |
| Sector (XLK) | 100.3% | 33.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SMRT Return | -13% | -75% | 31% | -45% | 15% | -50% | -91% |
| Peers Return | -1% | -20% | 22% | 14% | 15% | -5% | 19% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| SMRT Win Rate | 55% | 25% | 58% | 33% | 42% | 0% | |
| Peers Win Rate | 53% | 37% | 53% | 47% | 53% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| SMRT Max Drawdown | - | -79% | -41% | -59% | -60% | -53% | |
| Peers Max Drawdown | -29% | -36% | -28% | -23% | -24% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ALRM, REZI, ADT, ALLE, APPF.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/31/2026 (YTD)
How Low Can It Go
| Event | SMRT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -53.5% | -18.8% |
| % Gain to Breakeven | 115.3% | 23.1% |
| Time to Breakeven | 154 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.5% | -6.7% |
| % Gain to Breakeven | 18.4% | 7.1% |
| Time to Breakeven | 7 days | 31 days |
In The Past
SmartRent's stock fell -53.5% during the 2025 US Tariff Shock. Such a loss loss requires a 115.3% gain to breakeven.
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| Event | SMRT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -53.5% | -18.8% |
| % Gain to Breakeven | 115.3% | 23.1% |
| Time to Breakeven | 154 days | 79 days |
In The Past
SmartRent's stock fell -53.5% during the 2025 US Tariff Shock. Such a loss loss requires a 115.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About SmartRent (SMRT)
SmartRent, Inc. (SMRT) is an enterprise software company specializing in providing an integrated smart home operating system for the residential real estate market in the United States. The company's core offering empowers residential property owners, operators, homebuilders, institutional home buyers, and developers with technology designed to enhance visibility and control over their assets. This system ultimately helps deliver significant cost savings and creates additional revenue opportunities, primarily by improving the resident experience through comprehensive smart home control solutions.
SmartRent's extensive suite of products and services includes smart apartments and homes, advanced access control systems for buildings, common areas, and individual rental units, as well as asset protection and monitoring capabilities. The company also offers specialized solutions such as parking management, self-guided tour functionality for prospective tenants, and community and resident Wi-Fi services. To ensure seamless implementation and optimal use, SmartRent provides professional services that cover training, installation, and ongoing support to its diverse client base.
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Here are a few brief analogies for SmartRent (SMRT):
- Salesforce for smart apartment buildings.
- Google Home or Apple HomeKit, but for entire apartment communities and rental properties.
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- Integrated Smart Home Operating System: A core software platform providing visibility and control for residential property assets.
- Smart Apartments and Homes Solutions: Offerings that enable smart functionality within individual residential units.
- Access Control: Systems for managing entry to buildings, common areas, and rental units.
- Asset Protection and Monitoring: Solutions designed to safeguard and track property assets.
- Parking Management: Systems for optimizing and managing parking facilities within communities.
- Self-Guided Tours: Technology that allows prospective residents to tour properties independently.
- Community and Resident Wi-Fi: Managed internet services for entire residential communities and individual residents.
- Professional Services: Includes training, installation, and ongoing support for their smart home solutions.
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Residential Property Owners and Operators
These are large companies that own and manage multi-family apartment communities. Examples of such customers include:
- Equity Residential (NYSE: EQR)
- MAA (Mid-America Apartment Communities) (NYSE: MAA)
- AvalonBay Communities (NYSE: AVB)
Homebuilders
These are companies that construct new homes, integrating SmartRent's solutions into their properties from the ground up. Examples of such customers include:
- Lennar Corporation (NYSE: LEN)
- D.R. Horton, Inc. (NYSE: DHI)
Institutional Home Buyers
These typically refer to large companies that acquire single-family homes, often for rental portfolios, and integrate smart home technology. Examples of such customers include:
- Invitation Homes Inc. (NYSE: INVH)
- American Homes 4 Rent (NYSE: AMH)
Developers
Companies that develop new residential properties, often overlapping with homebuilders and property owners/operators, are also key customers for SmartRent's solutions.
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Frank Martell
President and Chief Executive Officer
Frank Martell serves as the President and Chief Executive Officer of SmartRent, effective June 16, 2025. He brings over 30 years of executive leadership experience in real estate and technology. Prior to SmartRent, he was President and CEO of loanDepot, Inc. (NYSE: LDI), where he led the Vision 2025 program. Before loanDepot, he held several senior leadership positions at CoreLogic, Inc., including CFO, COO, and ultimately CEO, where he transformed the company into a global leader in residential property data, analytics, and digital platforms, achieving a tenfold increase in market capitalization. He currently serves on the board of Compass Inc. (NYSE: COMP).
Daryl Stemm
Chief Financial Officer
Daryl Stemm is the Chief Financial Officer for SmartRent, appointed to the role in November 2023. He oversees all aspects of SmartRent's financial operations and has 40 years of experience in finance, accounting, treasury, and risk management, including 20 years as a CFO. Mr. Stemm joined SmartRent in 2020. His previous roles include senior finance positions with Best Western Hotels and Resorts and Invitation Homes (NYSE: INVH), and he served as CFO at Home Director, Inc., and Catalyst Semiconductor, Inc. In his career, he has completed four IPOs and more than 10 mergers and acquisitions.
Natalie Cariola
Chief Revenue Officer
Natalie Cariola is the Chief Revenue Officer of SmartRent, overseeing revenue operations and business expansion initiatives. She joined SmartRent in 2024 from Stake, a financial technology firm, where she served as president. Ms. Cariola has over 20 years of experience driving sales and growing market share in multifamily rental housing and proptech.
Sangeeth Ponathil
Chief Information Officer
Sangeeth Ponathil is the Chief Information Officer of SmartRent, leading the development and execution of technology strategies and charting the technology roadmap for the company. He joined SmartRent in 2025 and has over 25 years of experience guiding enterprise technology, digital transformation, and infrastructure modernization. Prior to SmartRent, Mr. Ponathil spent nearly five years at loanDepot, Inc., where he was Senior Vice President of Technology and Head of Product and Engineering.
Heather Auer
Chief Human Resources Officer
Heather Auer is the Chief Human Resources Officer for SmartRent. She is responsible for setting the overall people strategy for SmartRent and leading employee development.
AI Analysis | Feedback
The key risks to SmartRent's business are primarily centered around its financial performance, the highly competitive market it operates in, and its dependence on the residential property sector.
- Challenges with Achieving and Sustaining Profitability: SmartRent has historically faced significant financial hurdles, including negative operating and net margins, and has reported net losses. While the company is pivoting towards a higher-margin Software-as-a-Service (SaaS) model, the successful execution of this transition and achieving sustained profitability remains a critical risk. SmartRent has experienced a three-year revenue growth decline of 16% in the past, and financial indicators like an Altman Z-Score in the distress zone suggest potential financial instability. The company has also seen negative earnings per share and return on equity, along with negative free cash flow, indicating ongoing cash burn.
- Intense Competition in the Smart Home and PropTech Market: SmartRent operates in a highly competitive technology and software industry for smart home and property technology solutions. This environment necessitates continuous innovation and adaptation to maintain market relevance and customer acquisition. The market for smart home technology in residential real estate is maturing, and competition is expected to intensify, with other players like Alarm.com and Latch (now DOOR) posing competitive threats.
- Exposure to Macroeconomic Conditions and Demand Fluctuations in the Residential Property Sector: SmartRent's business is susceptible to broader economic conditions, particularly those affecting the residential property market. Economic downturns can lead to reduced capital expenditures by property owners and operators, and a decline in new residential construction, which could adversely impact the company's growth and sales. Historically, the company has also faced risks related to customer concentration, as evidenced by a significant drop in new orders after a major investor divested its stake.
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The clear emerging threat to SmartRent is the potential for major technology companies with established consumer smart home ecosystems (such as Amazon with Alexa/Ring/eero, or Google with Nest/Google Home) to leverage their substantial resources and existing infrastructure to develop and offer a comprehensive, integrated B2B smart property operating system directly to residential property owners and operators. These companies possess the cloud capabilities, device ecosystems, and brand recognition to potentially disrupt SmartRent's specialized, proprietary platform by offering a more extensive, potentially lower-cost, and deeply integrated solution.
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SmartRent (NYSE: SMRT) operates within several significant addressable markets within the residential rental housing industry.
Smart Home Operating System (Multi-Family)
The total addressable market (TAM) for smart home operating systems in the U.S. multi-family sector shows varying estimates. An April 2021 investor presentation by SmartRent suggested a U.S. addressable market of approximately $30 billion, based on 44 million rental units. However, a different analysis posits that SmartRent's true U.S. TAM is closer to 10 million units. SmartRent's existing customers collectively own approximately 6.6 million rental units, which represents about 13% of the U.S. institutionally owned multifamily and single-family rental market. Looking ahead, the smart apartment market is projected to grow to $13 billion by 2030.
Smart Access Control (Residential)
The global smart access control market, which includes residential applications, was valued at an estimated $13 billion in 2021. It is projected to reach approximately $17 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 5% from 2022 to 2030.
Parking Management
The global smart parking market was valued at an estimated $7.98 billion in 2024 and is anticipated to grow to $33.82 billion by 2033, with a CAGR of 17.4% during this forecast period. Another report estimates the global smart parking market at $8.5 billion in 2023, with a projection to reach $48.3 billion by 2033, growing at a CAGR of 19.3% from 2024 to 2033. North America holds the largest share of the smart parking market and is expected to grow at a CAGR of 16.95%.
Community and Resident Wi-Fi
While a specific dollar-value market size is not explicitly available, there is significant demand for community and resident Wi-Fi solutions. A 2023 survey indicated that 79% of U.S. renters are interested in seamless connectivity, yet only 1% currently experience uninterrupted Wi-Fi across their apartment communities. Furthermore, 48% of market-rate renters expressed willingness to pay $79.99 per month for gigabit Wi-Fi service.
Self-Guided Tours
The demand for self-guided tours in the U.S. residential rental market is substantial. SmartRent has surpassed one million self-guided tours, signifying widespread adoption of this technology. Data from Apartments.com shows a 63% increase in renters preferring self-guided touring options. Additionally, 70% of Millennial and Gen Z renters in the U.S. are interested in self-touring options. A specific monetary market size for self-guided tours was not found in the available information.
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SmartRent (SMRT) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and market trends:
- Expansion of Installed Unit Base: SmartRent is actively focused on growing its total number of deployed units. The company aims for a double-digit increase in its installed base through its Vision 2028 strategy, targeting 1 million installed units within the next four to five quarters and projecting over 1.2 million units by the end of 2028. This expansion directly contributes to higher hardware and recurring software revenue.
- Growth in Annual Recurring Revenue (ARR) and SaaS Offerings: A significant driver of future revenue is the strategic shift towards a SaaS-focused business model. SmartRent has demonstrated consistent growth in its Annual Recurring Revenue (ARR), which has been outpacing overall revenue growth and now represents a larger portion of total revenue. The company is emphasizing higher-margin recurring revenue streams, which contributes to more stable and predictable financial performance.
- Introduction and Expansion of New Products and Services: SmartRent continues to innovate and expand its product line, including enhancements to its Smart Operations solutions (formerly SightPlan), Community Wi-Fi offerings, and AI-powered tools such as SMRT IQ and Smart Launch. These new and improved solutions are designed to provide greater value to customers, streamline property management operations, and ultimately drive increased adoption and new revenue streams.
- Increased SaaS Average Revenue Per Unit (ARPU): The company has observed an increase in its SaaS ARPU, indicating its ability to generate more revenue from each installed unit. This growth is a result of enhanced service offerings and potential pricing power, allowing SmartRent to extract greater value from its existing customer base.
- Deepening Platform Integration with Data and AI: As part of its Vision 2028 plan, SmartRent intends to deepen its platform integration utilizing more data and artificial intelligence. This focus on a more robust and intelligent platform aims to enhance operational efficiency for property managers and improve the resident experience, fostering stronger customer engagement and retention, which supports long-term revenue growth.
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Share Repurchases
- SmartRent has an authorized $50 million share repurchase program.
- For the full year 2024, SmartRent repurchased 15.2 million shares at an aggregate cost of $28.6 million.
- For the full year 2025, the company repurchased approximately 5.1 million shares for $4.9 million, with about $16.8 million remaining available under the program as of December 31, 2025.
Share Issuance
- SmartRent's shares outstanding significantly increased from 75 million at the end of 2021 to 196 million by the end of 2022, indicating substantial share issuance, likely related to its public listing.
- Shares outstanding were approximately 201 million at the end of 2023, and then decreased slightly to around 199 million by the end of 2024 and 2025, reflecting the impact of share repurchases.
Capital Expenditures
- SmartRent invested $1,000 in capital expenditures in the fourth quarter of 2025, which was a 98.9% decrease from the previous quarter.
- Total capital expenditures for the full year 2025 were approximately $3.6 million.
- Management indicated a conservative approach to capital expenditures, focusing on spending the minimum necessary rather than accelerating investments.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| SmartRent Earnings Notes | 12/16/2025 | |
| Can SmartRent Stock Hold Up When Markets Turn? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 44.52 |
| Mkt Cap | 5.5 |
| Rev LTM | 2,665 |
| Op Inc LTM | 408 |
| FCF LTM | 217 |
| FCF 3Y Avg | 183 |
| CFO LTM | 226 |
| CFO 3Y Avg | 195 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 6.4% |
| Rev Chg Q | 9.5% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 11.6% |
| Op Inc Chg 3Y Avg | 17.2% |
| Op Mgn LTM | 15.3% |
| Op Mgn 3Y Avg | 13.6% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 17.6% |
| CFO/Rev 3Y Avg | 18.5% |
| FCF/Rev LTM | 15.9% |
| FCF/Rev 3Y Avg | 16.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 152 | 175 | 237 | ||
| Hardware | 87 | 70 | |||
| Hosted services | 48 | 18 | |||
| Professional services | 32 | 23 | |||
| Total | 152 | 175 | 237 | 168 | 111 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Single Segment | -64 | -42 | -43 |
| Total | -64 | -42 | -43 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Single Segment | -61 | -34 | -35 |
| Total | -61 | -34 | -35 |
Price Behavior
| Market Price | $1.01 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 02/05/2021 | |
| Distance from 52W High | -52.4% | |
| 50 Days | 200 Days | |
| DMA Price | $1.10 | $1.48 |
| DMA Trend | down | down |
| Distance from DMA | -8.5% | -31.9% |
| 3M | 1YR | |
| Volatility | 60.6% | 60.6% |
| Downside Capture | 160.80 | 151.06 |
| Upside Capture | 2.61 | 120.67 |
| Correlation (SPY) | 14.8% | 33.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.70 | 0.96 | 0.66 | 1.43 | 1.57 | 1.58 |
| Up Beta | -0.03 | 0.67 | -0.85 | 0.89 | 1.64 | 1.17 |
| Down Beta | 0.58 | 0.86 | 1.29 | 1.65 | 2.01 | 1.93 |
| Up Capture | -30% | 37% | 2% | 80% | 134% | 181% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 6 | 12 | 21 | 47 | 95 | 312 |
| Down Capture | 215% | 164% | 152% | 180% | 131% | 111% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 15 | 28 | 37 | 73 | 140 | 393 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMRT | |
|---|---|---|---|---|
| SMRT | -1.9% | 60.5% | 0.20 | - |
| Sector ETF (XLK) | 33.2% | 25.6% | 1.08 | 27.3% |
| Equity (SPY) | 18.8% | 12.9% | 1.07 | 33.5% |
| Gold (GLD) | 23.6% | 28.1% | 0.74 | 11.0% |
| Commodities (DBC) | 30.2% | 19.7% | 1.22 | -4.2% |
| Real Estate (VNQ) | 13.7% | 13.9% | 0.69 | 11.3% |
| Bitcoin (BTCUSD) | -44.8% | 42.9% | -1.26 | 23.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMRT | |
|---|---|---|---|---|
| SMRT | -39.6% | 69.1% | -0.43 | - |
| Sector ETF (XLK) | 18.7% | 25.7% | 0.65 | 35.9% |
| Equity (SPY) | 12.6% | 17.1% | 0.56 | 38.8% |
| Gold (GLD) | 17.1% | 18.5% | 0.75 | 5.8% |
| Commodities (DBC) | 9.0% | 19.5% | 0.35 | 3.5% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 30.4% |
| Bitcoin (BTCUSD) | 14.2% | 53.3% | 0.45 | 23.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMRT | |
|---|---|---|---|---|
| SMRT | -21.3% | 66.7% | -0.37 | - |
| Sector ETF (XLK) | 23.9% | 24.9% | 0.87 | 34.9% |
| Equity (SPY) | 15.0% | 17.9% | 0.71 | 37.9% |
| Gold (GLD) | 11.3% | 16.1% | 0.57 | 5.5% |
| Commodities (DBC) | 7.3% | 18.0% | 0.32 | 3.9% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 29.6% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 21.9% |
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Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -18.2% | -20.3% | -18.9% |
| 3/4/2026 | 16.2% | 22.1% | -3.2% |
| 11/5/2025 | 3.7% | 11.9% | 45.9% |
| 8/6/2025 | 15.6% | 38.0% | 44.0% |
| 5/7/2025 | 3.9% | -8.9% | 3.0% |
| 3/5/2025 | 7.1% | -11.8% | -9.4% |
| 11/6/2024 | -7.4% | -16.5% | 2.3% |
| 8/7/2024 | -5.5% | -7.3% | 1.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 10 |
| # Negative | 10 | 12 | 11 |
| Median Positive | 12.9% | 15.0% | 24.4% |
| Median Negative | -6.8% | -10.5% | -9.9% |
| Max Positive | 20.7% | 39.3% | 45.9% |
| Max Negative | -31.9% | -32.6% | -44.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -18.2% | -20.3% | -18.9% |
| 3/4/2026 | 16.2% | 22.1% | -3.2% |
| 11/5/2025 | 3.7% | 11.9% | 45.9% |
| 8/6/2025 | 15.6% | 38.0% | 44.0% |
| 5/7/2025 | 3.9% | -8.9% | 3.0% |
| 3/5/2025 | 7.1% | -11.8% | -9.4% |
| 11/6/2024 | -7.4% | -16.5% | 2.3% |
| 8/7/2024 | -5.5% | -7.3% | 1.8% |
| 5/8/2024 | -6.1% | 15.0% | -0.8% |
| 3/5/2024 | -4.5% | -6.2% | -10.0% |
| 11/7/2023 | 13.9% | 13.1% | 24.7% |
| 8/8/2023 | -4.7% | -9.2% | -15.5% |
| 5/10/2023 | 20.7% | 35.9% | 25.2% |
| 3/8/2023 | -6.2% | -5.8% | -7.7% |
| 11/10/2022 | 14.4% | 3.0% | -2.7% |
| 8/11/2022 | -31.9% | -32.6% | -44.9% |
| 5/11/2022 | 12.9% | 39.3% | 41.8% |
| 3/24/2022 | -12.5% | -19.7% | -21.9% |
| 1/11/2022 | 12.1% | 3.4% | 24.1% |
| 11/10/2021 | -17.6% | -11.7% | -9.9% |
| 8/30/2021 | 0.1% | -0.4% | 1.0% |
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 10 |
| # Negative | 10 | 12 | 11 |
| Median Positive | 12.9% | 15.0% | 24.4% |
| Median Negative | -6.8% | -10.5% | -9.9% |
| Max Positive | 20.7% | 39.3% | 45.9% |
| Max Negative | -31.9% | -32.6% | -44.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/05/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/05/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 03/25/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
Insider Activity
Updated 6/10/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bohjalian, Thomas N | Direct | Buy | 6102026 | 1.11 | 75,000 | 83,250 | 800,379 | Form | |
| 2 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 6052026 | 1.13 | 40,260 | 45,353 | 3,633,555 | Form |
| 3 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 6052026 | 1.19 | 20,000 | 23,728 | 3,779,000 | Form |
| 4 | Ponathil, Sangeeth | Chief Information Officer | Direct | Buy | 5272026 | 1.25 | 10,000 | 12,500 | 12,500 | Form |
| 5 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 5132026 | 1.18 | 100,000 | 117,850 | 3,730,266 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bohjalian, Thomas N | Direct | Buy | 6102026 | 1.11 | 75,000 | 83,250 | 800,379 | Form | |
| 2 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 6052026 | 1.13 | 40,260 | 45,353 | 3,633,555 | Form |
| 3 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 6052026 | 1.19 | 20,000 | 23,728 | 3,779,000 | Form |
| 4 | Ponathil, Sangeeth | Chief Information Officer | Direct | Buy | 5272026 | 1.25 | 10,000 | 12,500 | 12,500 | Form |
| 5 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 5132026 | 1.18 | 100,000 | 117,850 | 3,730,266 | Form |
| 6 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 5082026 | 1.12 | 50,000 | 56,220 | 3,446,585 | Form |
| 7 | Bohjalian, Thomas N | Direct | Buy | 3122026 | 1.74 | 150,000 | 260,490 | 868,300 | Form | |
| 8 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12162025 | 2.07 | 19,466 | 40,295 | 4,375,558 | Form |
| 9 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12162025 | 2.06 | 30,534 | 62,949 | 4,317,671 | Form |
| 10 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12122025 | 2.07 | 25,000 | 51,768 | 4,273,502 | Form |
| 11 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12122025 | 2.07 | 25,000 | 51,690 | 4,215,415 | Form |
| 12 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12102025 | 1.99 | 30,000 | 59,700 | 2,999,507 | Form |
| 13 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12102025 | 2.03 | 30,000 | 60,840 | 2,995,944 | Form |
| 14 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12052025 | 1.91 | 124,086 | 237,401 | 2,768,955 | Form |
| 15 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12042025 | 1.88 | 100,000 | 187,650 | 2,482,992 | Form |
| 16 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12042025 | 1.86 | 27,722 | 51,483 | 2,271,612 | Form |
| 17 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12022025 | 1.69 | 28,846 | 48,839 | 2,024,071 | Form |
| 18 | Bohjalian, Thomas N | Direct | Buy | 12022025 | 1.68 | 50,000 | 84,165 | 589,155 | Form | |
| 19 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 12022025 | 1.69 | 18,432 | 31,095 | 1,968,115 | Form |
| 20 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 11252025 | 1.73 | 50,435 | 87,000 | 1,980,652 | Form |
| 21 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 11252025 | 1.60 | 49,565 | 79,487 | 1,760,492 | Form |
| 22 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 11212025 | 1.44 | 56,236 | 80,980 | 1,509,414 | Form |
| 23 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 11212025 | 1.47 | 93,764 | 137,833 | 1,458,193 | Form |
| 24 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 9162025 | 1.58 | 50,000 | 79,115 | 1,421,228 | Form |
| 25 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 9152025 | 1.53 | 50,000 | 76,565 | 1,298,855 | Form |
| 26 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 9152025 | 1.44 | 50,000 | 71,935 | 1,148,376 | Form |
| 27 | Pinczuk, Ana G | Direct | Buy | 8252025 | 1.48 | 67,094 | 99,111 | 141,483 | Form | |
| 28 | Bohjalian, Thomas N | Direct | Buy | 8192025 | 1.50 | 100,000 | 150,000 | 450,000 | Form | |
| 29 | Bohjalian, Thomas N | Direct | Buy | 8192025 | 1.49 | 25,000 | 37,250 | 298,000 | Form | |
| 30 | Dorman, John C | Direct | Buy | 8182025 | 1.53 | 100,000 | 153,470 | 587,741 | Form | |
| 31 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 8152025 | 1.35 | 120,000 | 161,832 | 1,009,028 | Form |
| 32 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 8122025 | 1.37 | 130,000 | 178,230 | 861,268 | Form |
| 33 | Bohjalian, Thomas N | Direct | Buy | 8122025 | 1.37 | 25,000 | 34,250 | 239,750 | Form | |
| 34 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 8122025 | 1.26 | 100,000 | 126,480 | 630,128 | Form |
| 35 | Bohjalian, Thomas N | Direct | Buy | 8122025 | 1.26 | 150,000 | 189,000 | 189,000 | Form | |
| 36 | Martell, Frank | Chief Executive Officer | Frank D. and Donna M. Martell Family Trust | Buy | 8112025 | 1.25 | 150,000 | 187,500 | 497,755 | Form |
Investor Activity (13F)
Updated Aug 1, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
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Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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