SmartRent (SMRT) Investor presentation summary

Platform and market opportunity

• Full-lifecycle, hardware-enabled SaaS platform connects rental housing units, properties and portfolios through hardware, software and services.

• Serves ~600 customers across 3,500+ communities, including 15 of the top 20 multifamily operators; existing customers own or control 7M+ units.

• 942K installed units against ~49M U.S. rental units; ~6M units of whitespace within the existing customer base.

• TTM units booked reached 122.5K; installed base was 942K as of September 30, 2026.

Recurring revenue and customer economics

• ARR rose from $34M in 2022 to $63M in Q3 2026, representing 17% CAGR.

• SaaS was 38% of total revenue in Q3 2026; SaaS revenue grew 11% YoY, SaaS gross margin was 75%, and customer NRR was 100% as of September 30, 2026.

• Lifecycle expansion includes additional devices and software, renewals and pricing, and hardware refreshes; typical revenue per unit can grow more than 4x, with actual results varying by customer.

Growth strategy and targets

• Vision 2028 prioritizes double-digit installed-base growth, higher ARPU, data-driven solutions, operating leverage and durable cash flow.

• Targets: more than 1.0M installed units in 1H 2027 and more than 1.2M by YE 2028, with double-digit installed-base CAGR from 2026 to 2028.

• FY 2026 targets are positive Adjusted EBITDA and breakeven operating cash flow while funding sales growth; prior positive free cash flow target was revised.

• Five strategic pillars: grow installed base, scale go-to-market, deepen platform integration, advance hardware, and strengthen operating rigor.