SmartRent rolls out new features for property management

SCOTTSDALE, Ariz. - SmartRent, Inc. (NYSE: SMRT), a provider of smart home and property management solutions with a market capitalization of $216 million and annual revenue of $175 million, has launched new features aimed at enhancing efficiency and scalability for multifamily operators. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 3.63, indicating solid operational flexibility. The company introduced Teams, Smart Launch, and Triggers as part of its Work Management solution, seeking to support the rental housing industry’s move toward centralized operations.

Teams allows organizations to assign tasks at a group level instead of to individuals, facilitating operational flexibility and improving task completion rates. This feature is designed to manage more units effectively without sacrificing service quality, as it provides better visibility into task assignments and statuses.

Smart Launch, an AI-powered assistant, simplifies workflow searches and platform navigation, enabling users to search for tasks using natural language. This reduces the time needed for new associate onboarding and improves user confidence and platform adoption.

Triggers, another new feature, automates task creation for move-out inspections based on the move-out date, updating automatically if those dates change. This enhancement is part of SmartRent’s efforts to streamline the make-ready process for properties.

Isaiah DeRose-Wilson, SmartRent’s Chief Technology Officer, emphasized the flexibility these features offer to operators, stating they fully support all centralized service models and allow for tailored operations coverage.

The introduction of these features reflects SmartRent’s $10 million investment in innovation and customer success, as the company continues to expand its Smart Operations Suite. SmartRent’s solutions are utilized by 15 of the top 20 multifamily owners and operators, indicating a significant market presence in the smart property management industry. InvestingPro data shows the company currently trades at attractive revenue multiples, with several additional financial insights available to subscribers.

These innovations are part of SmartRent’s broader vision to simplify operations and strengthen performance for property management, aiming to provide lasting value for multifamily housing portfolios. For more information on the new features, interested parties can visit the company’s website. For investors seeking comprehensive analysis, InvestingPro offers an in-depth research report on SmartRent, part of its coverage of over 1,400 US stocks, providing detailed financial health metrics and expert insights for informed investment decisions.

This news is based on a press release statement from SmartRent.

In other recent news, SmartRent has reported its fourth-quarter 2024 earnings, revealing a significant revenue shortfall and a larger-than-expected loss. The company posted a revenue of $35.4 million, which was substantially below the anticipated $47.24 million, marking a 41% decrease year-over-year. Earnings per share came in at -$0.06, missing the forecast of -$0.02. Despite these disappointing results, SmartRent’s SaaS revenue has grown to constitute 38% of total revenue, up from 19% the previous year, indicating a strategic shift towards software offerings.

In related developments, Keefe Bruyette & Woods (KBW) analyst Ryan Tomasello has adjusted the price target for SmartRent to $1.60 from $2.00, maintaining a Market Perform rating. This adjustment follows SmartRent’s adjusted EBITDA of negative $7.4 million, which fell short of both KBW and consensus estimates. The company has recently undergone a leadership change, with the new CEO emphasizing a strategic transition towards a SaaS-focused business model. SmartRent did not provide guidance for 2025, citing economic uncertainties and the new CEO’s recent induction.

The company is prioritizing enhancements to its cost structure and sales organization to support its strategic initiatives. Despite the challenges, SmartRent’s gross margin showed a slight improvement to 28.7% in the fourth quarter. The company plans to continue investing in its smart operations platform and sales organization, aiming for a stronger focus on recurring revenue streams.

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