SMRT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $1.20

Market Cap (MRQ) $230M

P/E (TTM) -12.0

EPS (TTM) $-0.10

Revenue (TTM) $151M

ROE (TTM) -8.4%

52W Range $1–$2

SMRT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

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10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$152M

2020-12-31 → 2025-12-31

EPS$-0.32

2020-12-31 → 2025-12-31

Free Cash Flow$-25M

2021-12-31 → 2025-12-31

Net margin-13.0%

2021-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	SMRT	5Y avg	Peer Median	Verdict
P/E (TTM)	-12.05Y avg ≈-10.1	≈-10.1	·	·
P/S (TTM)	1.55Y avg ≈1.8	≈1.8	6.9	Undervalued
P/B (MRQ)	1.05Y avg ≈1.2	≈1.2	6.1	Undervalued
Price / FCF (TTM)	-218.65Y avg ≈21.6	≈21.6	·	·
Price / Cash Flow (TTM)	-325.75Y avg ≈20.1	≈20.1	·	·
Price / Tangible Book (MRQ)	1.15Y avg ≈2.2	≈2.2	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	SMRT	5Y avg	Peer Median	Verdict
Operating Margin (TTM)	-14.9%5Y avg ≈-37.2%	≈-37.2%	-10.5%	Below avg
EBITDA Margin (TTM)	-9.0%5Y avg ≈-34.2%	≈-34.2%	-9.0%	Below avg
Pretax Margin (TTM)	-13.1%5Y avg ≈-34.6%	≈-34.6%	-10.4%	Below avg
Net Profit Margin (TTM)	-13.0%5Y avg ≈-34.7%	≈-34.7%	-10.9%	Below avg
ROA (TTM)	-6.1%5Y avg ≈-12.8%	≈-12.8%	-7.6%	Weak
ROE (TTM)	-8.4%5Y avg ≈-15.7%	≈-15.7%	-10.6%	Weak
ROIC	-27.6%5Y avg ≈-17.7%	≈-17.7%	-15.6%	Weak

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	5Y trend	SMRT	5Y avg	Peer Median	Verdict
Current Ratio (MRQ)		3.85Y avg ≈4.3	≈4.3	4.2	In line
Quick Ratio		2.55Y avg ≈3.6	≈3.6	3.0	In line

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	SMRT	5Y avg	Peer Median	Verdict
Revenue YoY	-12.9%5Y avg ≈32.9%	≈32.9%	·	·
Revenue CAGR 3Y	-3.2%5Y avg ≈26.2%	≈26.2%	·	·
Revenue CAGR 5Y	23.7%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	SMRT	5Y avg	Peer Median	Verdict
EPS (Diluted)	$-0.325Y avg ≈$-0.42	≈$-0.42	·	·
Revenue / Share	$0.805Y avg ≈$0.95	≈$0.95	·	·
Cash Flow / Share	$-0.115Y avg ≈$-0.08	≈$-0.08	·	·
Cash / Share	$0.555Y avg ≈$556.18	≈$556.18	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	SMRT	5Y avg	Peer Median	Verdict
Asset Turnover	0.45Y avg ≈0.4	≈0.4	0.5	Weak
Inventory Turnover	3.35Y avg ≈3.6	≈3.6	2.2	Top tier
Receivables Turnover	2.95Y avg ≈3.2	≈3.2	5.7	Weak
Revenue / Employee	≈$364.4K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise -22.9%

Next Report Nov 03, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 12, 2026	$-0.03	$-0.02	-47.1%
March 31, 2026	May 13, 2026	$-0.02	$-0.02	-30.7%
Dec. 31, 2025		$-0.02	$-0.02	2.0%
Sept. 30, 2025		$-0.03	$-0.05	41.2%
June 30, 2025		$-0.06	$-0.06	-7.0%
March 31, 2025		$-0.08	$-0.04	-96.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 16

Metric	2025	2024	2023	2022	2021	2020
Revenue	$152M	$175M	$237M	$168M	$111M	$53M
Cost of Revenue	$102M	$115M	$187M	$166M	$121M	$57M
R&D Expense	$26M	$29M	$29M	$29M	$22M	$9M
SG&A Expense	$43M	$54M	$45M	$55M	$26M	$17M
Operating Expenses	$89M	$102M	$93M	$106M	$62M	$31M
Operating Income	$-64M	$-42M	$-43M	$-104M	$-72M	$-36M
Interest Income	$4M	$9M	$9M	·	·	·
Other Non-op	$-462.0K	$154.0K	$-116.0K	$595.0K	$55.0K	$-685.0K
Pretax Income	$-61M	$-33M	$-35M	$-102M	$-72M	$-37M
Income Tax	$41.0K	$267.0K	$-108.0K	$-5M	$115.0K	$149.0K
Net Income	$-61M	$-34M	$-35M	$-96M	$-72M	$-37M
EPS (Basic)	$-0.32	$-0.17	$-0.17	$-0.49	$-0.96	$-4.32
EPS (Diluted)	$-0.32	$-0.17	$-0.17	$-0.49	$-0.96	$-4.32
Shares (Basic)	189,679,000	199,181,000	200,700,000	195,575,000	74,721,000	8,598
Shares (Diluted)	189,679,000	199,181,000	200,700,000	195,575,000	74,721,000	8,598
EBITDA	$-56M	$-35M	$-38M	·	$-71M	·

Balance Sheet 26

Metric	2025	2024	2023	2022	2021	2020
Cash & Equivalents	$105M	$142M	$215M	$210M	$431M	$39M
Receivables	$47M	$59M	$62M	$62M	$45M	$21M
Inventory	$27M	$35M	$42M	$76M	$33M	$18M
Prepaid Expense	$6M	$12M	$9M	$9M	$17M	$4M
Other Current Assets	$333.0K	$4M	$2M	$4M	$2M	$564.0K
Current Assets	$188M	$258M	$340M	$378M	$536M	$88M
PP&E (Net)	$5M	$2M	$1M	$2M	$2M	$847.0K
PP&E (Gross)	$9M	$6M	$4M	$4M	$3M	$1M
Accum. Depreciation	$4M	$3M	$2M	$2M	$800.0K	$357.0K
Goodwill	$92M	$117M	$117M	$117M	$13M	$4M
Intangibles	$20M	$23M	$27M	$31M	$4M	·
Other Non-current Assets	$16M	$16M	$12M	$10M	$7M	$1M
Total Assets	$321M	$420M	$510M	$561M	$580M	$104M
Accounts Payable	$13M	$9M	$15M	$18M	$6M	$2M
Accrued Liabilities	$3M	$13M	$7M	$9M	$5M	$764.0K
Current Liabilities	$60M	$71M	$117M	$133M	$71M	$33M
Capital Leases	$6M	$7M	$1M	$3M	$2M	·
Other Non-current Liabilities	$6M	$7M	$4M	$4M	$6M	$516.0K
Total Liabilities	$89M	$131M	$167M	$197M	$130M	$71M
Common Stock	$19.0K	$19.0K	$20.0K	$20.0K	$19.0K	·
Paid-in Capital	$645M	$637M	$628M	$615M	$604M	$4M
Retained Earnings	$-413M	$-348M	$-286M	$-251M	$-155M	$-83M
AOCI	$363.0K	$-98.0K	$-216.0K	$-176.0K	$9.0K	$235.0K
Stockholders' Equity	$232M	$289M	$342M	$364M	$450M	$-78M
Liabilities + Equity	$321M	$420M	$510M	$561M	$580M	$104M
Shares Outstanding	189,677,000	192,049,000	203,327,000	198,525,000	193,864,000	10,376

Cash Flow 15

Metric	2025	2024	2023	2022	2021	2020
D&A	$8M	$6M	$6M	$4M	$463.0K	$295.0K
Stock-based Comp	$9M	$12M	$13M	$13M	$7M	$1M
Deferred Tax	$-72.0K	$41.0K	$-173.0K	$-6M	$-18.0K	$21.0K
Amort. of Intangibles	$4M	$4M	$4M	$3M	$0	$0
Other Non-cash	$22M	$-18M	$22M	·	$-6M	·
Operating Cash Flow	$-22M	$-33M	$6M	$-78M	$-70M	$-28M
CapEx	$4M	$2M	$147.0K	$1M	$1M	$298.0K
Investing Cash Flow	$-9M	$-8M	$-6M	$-134M	$-9M	$-3M
Net Debt Issued	·	·	·	·	$-5M	·
Stock Repurchased	$5M	$29M	·	·	·	·
Net Stock Activity	$-5M	$-29M	·	·	·	·
Financing Cash Flow	$-7M	$-33M	$-2M	$-3M	$474M	$48M
Net Change in Cash	$-38M	$-73M	$-2M	$-215M	$394M	$17M
Taxes Paid	$167M	·	·	·	·	·
Free Cash Flow	$-25M	$-35M	$6M	·	$-72M	·

Profitability 7

Metric	2025	2024	2023	2022	2021	2020
Operating Margin	-42.0%	-23.9%	-18.2%	·	-64.8%	·
Net Margin	-39.8%	-19.2%	-14.6%	·	-65.0%	·
Pretax Margin	-39.7%	-19.1%	-14.6%	·	-64.9%	·
EBITDA Margin	-36.5%	-20.2%	-15.9%	·	-64.3%	·
ROA	-16.3%	-7.2%	-6.5%	·	-21.1%	·
ROE	-25.7%	-11.3%	-10.1%	·	-15.6%	·
ROIC	-27.6%	-14.5%	-12.6%	·	-16.0%	·

Liquidity & Solvency 2

Metric	Trend	2025	2024	2023	2022	2021	2020
Current Ratio		3.1	3.6	2.9	·	7.6	·
Quick Ratio		2.5	2.8	2.4	·	6.7	·

Efficiency 3

Metric	2025	2024	2023	2022	2021	2020
Asset Turnover	0.4	0.4	0.4	·	0.3	·
Inventory Turnover	3.3	3.0	3.2	·	4.7	·
Receivables Turnover	2.9	2.9	3.8	·	3.3	·

Per Share 5

Metric	2025	2024	2023	2022	2021	2020
Book Value / Share	$1.22	$1.51	$1.68	·	$2318.65	·
Revenue / Share	$0.80	$0.88	$1.18	·	·	·
Cash Flow / Share	$-0.11	$-0.17	$0.03	·	·	·
Cash / Share	$0.55	$0.74	$1.06	·	$2222.39	·
EPS (TTM)	$-0.32	$-0.17	$-0.17	$-0.49	$-0.96	·

Growth Rates 3

Metric	2025	2024	2023	2022	2021	2020
Revenue YoY	-12.9%	-26.2%	41.1%	51.7%	110.6%	·
Revenue CAGR 3Y	-3.2%	16.5%	65.2%	·	·	·
Revenue CAGR 5Y	23.7%	·	·	·	·	·

Valuation (TTM) 10

Metric	2025	2024	2023	2022	2021	2020
Revenue TTM	$152M	$175M	$237M	$168M	$111M	·
Net Income TTM	$-61M	$-34M	$-35M	$-96M	$-72M	·
Market Cap	$383M	$336M	$649M	·	$2M	·
P/E	-6.3	-10.3	-18.8	-5.0	-10.1	·
P/S	2.5	1.9	2.7	·	0.0	·
P/B	1.7	1.2	1.9	·	0.0	·
P / Tangible Book	3.2	2.3	3.3	2.2	0.0	·
P / Cash Flow	-17.8	-10.2	108.4	·	-0.0	·
P / FCF	-15.2	-9.7	111.2	·	-0.0	·
Earnings Yield	-15.8%	-9.7%	-5.3%	-20.2%	-9.9%	·

Income Statement 16

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$40M	$39M	$36M	$36M	$38M	$41M	$35M	$41M	$49M	$50M	$60M	$58M	$53M	$65M	$41M	$48M
Cost of Revenue	$24M	$24M	$22M	$27M	$26M	$28M	$25M	$27M	$31M	$31M	$43M	$45M	$44M	$56M	$37M	$46M
R&D Expense	$6M	$6M	$5M	$6M	$6M	$8M	$7M	$7M	$7M	$8M	$7M	$8M	$7M	$7M	$7M	$8M
SG&A Expense	$12M	$10M	$9M	$6M	$12M	$17M	$11M	$14M	$12M	$17M	$11M	$11M	$11M	$12M	$14M	$15M
Operating Expenses	$23M	$20M	$18M	$17M	$24M	$30M	$23M	$25M	$24M	$30M	$23M	$23M	$22M	$24M	$26M	$28M
Operating Income	$-6M	$-5M	$-4M	$-7M	$-12M	$-41M	$-13M	$-12M	$-7M	$-10M	$-6M	$-10M	$-12M	$-15M	$-22M	$-27M
Interest Income	$815.0K	$860.0K	·	·	$1M	$1M	·	·	·	·	·	·	·	·	·	·
Other Non-op	$-68.0K	$-75.0K	$-177.0K	$-78.0K	$-220.0K	$13.0K	$147.0K	$-187.0K	$91.0K	$103.0K	$-71.0K	$-42.0K	$-59.0K	$56.0K	$29.0K	$290.0K
Pretax Income	$-6M	$-4M	$-3M	$-6M	$-11M	$-40M	$-11M	$-10M	$-5M	$-8M	$-3M	$-8M	$-10M	$-13M	$-21M	$-26M
Income Tax	$-162.0K	$40.0K	$-90.0K	$56.0K	$-33.0K	$108.0K	$136.0K	$18.0K	$68.0K	$45.0K	$-86.0K	$-33.0K	$18.0K	$-7.0K	$347.0K	$81.0K
Net Income	$-6M	$-4M	$-3M	$-6M	$-11M	$-40M	$-11M	$-10M	$-5M	$-8M	$-3M	$-8M	$-10M	$-13M	$-21M	$-26M
EPS (Basic)	$-0.03	$-0.02	$-0.02	$-0.03	$-0.06	$-0.21	$-0.06	$-0.05	$-0.02	$-0.04	$-0.01	$-0.04	$-0.05	$-0.07	$-0.11	$-0.13
EPS (Diluted)	$-0.03	$-0.02	$-0.02	$-0.03	$-0.06	$-0.21	$-0.06	$-0.05	$-0.02	$-0.04	$-0.01	$-0.04	$-0.05	$-0.07	$-0.11	$-0.13
Shares (Basic)	192,414,000	191,654,000	·	188,376,000	188,755,000	192,419,000	·	198,731,000	201,986,000	203,485,000	·	201,584,000	199,619,000	198,334,000	·	196,486,000
Shares (Diluted)	192,414,000	191,654,000	·	188,376,000	188,755,000	192,419,000	·	198,731,000	201,986,000	203,485,000	·	201,584,000	199,619,000	198,334,000	·	196,486,000
EBITDA	$-6M	$-3M	·	$-7M	$-12M	$-39M	·	$-12M	$-7M	$-9M	·	$-10M	$-12M	$-14M	·	$-27M

Balance Sheet 26

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$93M	$99M	$105M	$100M	$105M	$126M	$142M	$163M	$187M	$205M	$215M	$211M	$197M	$204M	$210M	$210M
Receivables	$38M	$37M	$47M	$52M	$59M	$50M	$59M	$63M	$65M	$58M	·	$64M	$60M	$59M	·	$64M
Inventory	$21M	$24M	$27M	$28M	$33M	$33M	$35M	$36M	$34M	$31M	·	$48M	$61M	$67M	·	$61M
Prepaid Expense	$9M	$7M	$6M	$17M	$15M	$12M	$12M	$12M	$15M	$14M	·	$10M	$16M	$14M	·	$9M
Other Current Assets	$1M	$327.0K	$333.0K	$10M	$7M	$3M	$4M	$5M	$8M	$6M	·	$808.0K	$9M	$7M	·	$4M
Current Assets	$162M	$169M	$188M	$201M	$218M	$228M	$258M	$285M	$314M	$319M	·	$344M	$346M	$357M	·	$364M
PP&E (Net)	$5M	$5M	$5M	$5M	$6M	$5M	$2M	$1M	$1M	$1M	·	$2M	$2M	$2M	·	$2M
PP&E (Gross)	$9M	$9M	$9M	$9M	$9M	$9M	$6M	$4M	$4M	$4M	·	$4M	$4M	$4M	·	$3M
Accum. Depreciation	$4M	$4M	$4M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	·	$2M	$2M	$2M	·	$1M
Goodwill	$92M	$92M	$92M	$92M	$92M	$92M	$117M	$117M	$117M	$117M	$117M	$117M	$117M	$117M	·	$118M
Intangibles	$18M	$19M	$20M	$20M	$21M	$22M	$23M	$24M	$25M	$26M	·	$28M	$29M	$30M	·	$32M
Other Non-current Assets	$17M	$16M	$16M	$16M	$16M	$16M	$16M	$16M	$11M	$12M	·	$11M	$10M	$10M	·	$12M
Total Assets	$294M	$300M	$321M	$336M	$354M	$366M	$420M	$449M	$475M	$485M	·	$516M	$521M	$536M	·	$551M
Accounts Payable	$8M	$9M	$13M	$11M	$12M	$12M	$9M	$10M	$6M	$8M	·	$9M	$6M	$12M	·	$5M
Accrued Liabilities	$7M	$3M	$3M	$16M	$19M	$15M	$13M	$13M	$7M	$7M	·	$6M	$6M	$9M	·	$8M
Current Liabilities	$43M	$43M	$60M	$73M	$80M	$76M	$71M	$86M	$100M	$107M	·	$124M	$121M	$123M	·	$98M
Capital Leases	$5M	$5M	$6M	$6M	$6M	$7M	$7M	$7M	·	·	·	·	·	·	·	·
Other Non-current Liabilities	$5M	$5M	$6M	$6M	$7M	$7M	$7M	$7M	$961.0K	$4M	·	$5M	$4M	$4M	·	$7M
Total Liabilities	$69M	$70M	$89M	$101M	$115M	$115M	$131M	$143M	$146M	$152M	·	$172M	$174M	$182M	·	$169M
Common Stock	$19.0K	$19.0K	$19.0K	$19.0K	$19.0K	$19.0K	$19.0K	$19.0K	$20.0K	$20.0K	·	$20.0K	$20.0K	$20.0K	·	$20.0K
Paid-in Capital	$652M	$649M	$645M	$644M	$642M	$640M	$637M	$636M	$634M	$631M	·	$626M	$622M	$619M	·	$612M
Retained Earnings	$-427M	$-418M	$-413M	$-410M	$-404M	$-389M	$-348M	$-331M	$-304M	$-298M	·	$-282M	$-274M	$-264M	·	$-230M
AOCI	$283.0K	$-104.0K	$363.0K	$623.0K	$629.0K	$-10.0K	$-98.0K	$49.0K	$-221.0K	$-210.0K	·	$-269.0K	$-81.0K	$-72.0K	·	$-1M
Stockholders' Equity	$225M	$231M	$232M	$234M	$239M	$251M	$289M	$305M	$329M	$333M	$342M	$343M	$347M	$355M	$364M	$382M
Liabilities + Equity	$294M	$300M	$321M	$336M	$354M	$366M	$420M	$449M	$475M	$485M	·	$516M	$521M	$536M	·	$551M
Shares Outstanding	191,611,000	192,721,000	189,677,000	189,196,000	188,064,000	191,749,000	192,049,000	192,971,000	202,169,000	202,511,000	·	203,076,000	200,069,000	199,357,000	·	198,260,000

Cash Flow 13

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$1M	$1M	$1M	$1M	$1M
Stock-based Comp	$3M	$3M	$2M	$2M	$2M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$4M	$3M	$3M
Deferred Tax	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$169.0K	$0
Amort. of Intangibles	$969.0K	$968.0K	$969.0K	$968.0K	$968.0K	$969.0K	$968.0K	$969.0K	$968.0K	$969.0K	$968.0K	$968.0K	$969.0K	$969.0K	$1M	$1M
Other Non-cash	·	$-5M	·	·	·	$23M	·	·	·	$-427.0K	·	·	·	$-3M	·	·
Operating Cash Flow	$-2M	$-5M	$8M	$-2M	$-15M	$-12M	$-12M	$-4M	$-14M	$-3M	$7M	$14M	$-4M	$-10M	$2M	$-43M
CapEx	$225.0K	$30.0K	$1.0K	$90.0K	$1M	$2M	$1M	$249.0K	$241.0K	$34.0K	$31.0K	$67.0K	$22.0K	$27.0K	$311.0K	$332.0K
Investing Cash Flow	$-2M	$-1M	$-2M	$-1M	$-2M	$-3M	$-3M	$-3M	$-1M	$-956.0K	$-3M	$-985.0K	$-2M	$-1M	$-2M	$-3M
Stock Repurchased	·	·	$-29.0K	$0	$4M	$1M	$5M	$17M	$2M	$4M	·	·	·	·	·	·
Net Stock Activity	·	·	·	·	·	$-1M	·	·	·	$-4M	·	·	·	·	·	·
Financing Cash Flow	$-4M	$393.0K	$-448.0K	$-2M	$-4M	$-2M	$-7M	$-17M	$-2M	$-6M	$-405.0K	$778.0K	$-424.0K	$-2M	$-276.0K	$381.0K
Net Change in Cash	$-6M	$-6M	$5M	$-5M	$-21M	$-17M	$-21M	$-24M	$-17M	$-11M	$4M	$14M	$-7M	$-13M	$296.0K	$-46M
Free Cash Flow	·	$-5M	·	·	·	$-14M	·	·	·	$-3M	·	·	·	$-11M	·	·

Profitability 7

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Operating Margin	-16.2%	-13.2%	·	-19.4%	-30.5%	-99.9%	·	-29.0%	-14.3%	-20.1%	·	-17.1%	-22.6%	-23.5%	·	-56.1%
Net Margin	-14.2%	-11.5%	·	-17.3%	-28.3%	-97.2%	·	-24.5%	-9.5%	-15.2%	·	-13.3%	-19.4%	-20.3%	·	-54.6%
Pretax Margin	-14.6%	-11.4%	·	-17.2%	-28.4%	-96.9%	·	-24.4%	-9.3%	-15.2%	·	-13.4%	-19.4%	-20.3%	·	-54.5%
EBITDA Margin	-16.2%	-7.4%	·	-19.4%	-30.5%	-95.2%	·	-29.0%	-14.3%	-17.2%	·	-17.1%	-22.6%	-21.6%	·	-56.1%
ROA	-1.7%	-1.3%	·	-1.6%	-2.6%	-9.4%	·	-2.1%	-0.92%	-1.5%	·	-1.5%	-1.9%	-2.3%	·	-4.6%
ROE	-2.4%	-1.8%	·	-2.3%	-3.8%	-13.8%	·	-3.1%	-1.4%	-2.2%	·	-2.1%	-2.8%	-3.4%	·	-6.1%
ROIC	-2.8%	-2.2%	·	-3.0%	-4.9%	-16.5%	·	-3.9%	-2.1%	-3.1%	·	-2.9%	-3.5%	-4.3%	·	-7.0%

Liquidity & Solvency 2

Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio		3.8	3.9	·	2.8	2.7	3.0	·	3.3	3.1	3.0	·	2.8	2.9	2.9	·	3.7
Quick Ratio		3.1	3.2	·	2.1	2.0	2.3	·	2.6	2.5	2.5	·	2.2	2.1	2.1	·	2.8

Efficiency 3

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover	0.1	0.1	·	0.1	0.1	0.1	·	0.1	0.1	0.1	·	0.1	0.1	0.1	·	0.1
Inventory Turnover	0.9	0.8	·	0.8	0.8	0.9	·	0.6	0.7	0.6	·	0.8	0.7	1.0	·	1.1
Receivables Turnover	0.8	0.9	·	0.6	0.6	0.8	·	0.6	0.8	0.9	·	0.9	1.0	1.1	·	1.0

Per Share 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$1.18	$1.20	·	$1.24	$1.27	$1.31	·	$1.58	$1.63	$1.64	·	$1.69	$1.74	$1.78	·	$1.93
Revenue / Share	$0.21	$0.20	·	$0.19	$0.20	$0.21	·	$0.20	$0.24	$0.25	·	$0.29	$267.52	$328.13	·	$241.76
Cash Flow / Share	·	$-0.02	·	·	·	$-0.06	·	·	·	$-0.02	·	·	·	$-57.64	·	·
Cash / Share	$0.48	$0.51	·	$0.53	$0.56	$0.66	·	$0.85	$0.93	$1.01	·	$1.04	$0.98	$1.02	·	$1.06
EPS (TTM)	$-0.10	$-0.13	·	$-0.36	$-0.38	$-0.34	·	$-0.12	$-0.11	$-0.14	·	$-0.27	$-0.36	$-0.44	·	$-0.03

Valuation (TTM) 9

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$151M	$150M	·	$151M	$156M	$166M	·	$200M	$217M	$222M	·	$217M	$207M	$196M	·	$162M
Net Income TTM	$-20M	$-25M	·	$-69M	$-72M	$-66M	·	$-26M	$-23M	$-29M	·	$-53M	$-71M	$-86M	·	$-101M
Market Cap	$228M	$289M	·	$267M	$186M	$232M	·	$334M	$483M	$543M	·	$530M	$766M	$508M	·	$450M
P/E	-11.9	-11.5	·	-3.9	-2.6	-3.6	·	-14.4	-21.7	-19.1	·	-9.7	-10.6	-5.8	·	-75.7
P/S	1.5	1.9	·	1.8	1.2	1.4	·	1.7	2.2	2.4	·	2.4	3.7	2.6	·	2.8
P/B	1.0	1.3	·	1.1	0.8	0.9	·	1.1	1.5	1.6	·	1.5	2.2	1.4	·	1.2
P / Tangible Book	2.0	2.4	·	2.2	1.5	1.7	·	2.0	2.6	2.9	·	2.7	3.8	2.5	·	1.9
P / Cash Flow	·	-63.6	·	·	·	-19.1	·	·	·	-162.6	·	·	·	-44.5	·	·
Earnings Yield	-8.4%	-8.7%	·	-25.5%	-38.4%	-28.1%	·	-6.9%	-4.6%	-5.2%	·	-10.3%	-9.4%	-17.2%	·	-1.3%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$152M	$175M	$237M	$168M	$111M
Operating Margin %	-42.0%	-23.9%	-18.2%	·	-64.8%
Net Income	$-61M	$-34M	$-35M	$-96M	$-72M
Diluted EPS	$-0.32	$-0.17	$-0.17	$-0.49	$-0.96

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Current Ratio	3.1	3.6	2.9	·	7.6
Quick Ratio	2.5	2.8	2.4	·	6.7

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-25M	$-35M	$6M	·	$-72M

Institutional owners (13F) 135 filers · $172.4M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 135

Value held $172.4M

New positions 34

Exited positions 25

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
34 (+12 vs prior Q)	25 (+9 vs prior Q)	35 (-1 vs prior Q)	35 (-1 vs prior Q)	+3.7M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD GROUP INC	$24,515,889	12,136,579	14.22%	Shares
CITIGROUP INC	$18,998,295	15,964,954	11.02%	Shares
BlackRock, Inc.	$13,598,518	11,427,326	7.89%	Shares
OAKTREE CAPITAL MANAGEMENT LP	$8,931,301	7,505,294	5.18%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$8,275,619	6,954,302	4.80%	Shares
DIMENSION CAPITAL MANAGEMENT LLC	$7,108,578	5,973,595	4.12%	Shares
Blue Door Asset Management, LLC	$7,059,176	5,932,081	4.10%	Shares
Long Pond Capital, LP	$6,676,079	5,610,150	3.87%	Shares
UBS Group AG	$6,590,556	5,538,282	3.82%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$6,535,655	5,492,147	3.79%	Shares
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.	$6,298,527	5,292,880	3.65%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$5,343,672	4,489,376	3.10%	Shares
Tikvah Management LLC	$3,968,650	3,335,000	2.30%	Shares
Stoic Point Capital Management LLC	$3,815,180	3,206,034	2.21%	Shares
KIM, LLC	$3,160,846	2,656,173	1.83%	Shares
GOLDMAN SACHS GROUP INC	$3,066,847	2,577,182	1.78%	Shares
KENNEDY CAPITAL MANAGEMENT LLC	$2,994,652	2,516,514	1.74%	Shares
MORGAN STANLEY	$2,903,107	2,439,586	1.68%	Shares
ROYCE & ASSOCIATES LP	$2,819,789	2,369,571	1.64%	Shares
MARSHALL WACE, LLP	$2,467,966	2,073,922	1.43%	Shares
STATE STREET CORP	$2,369,680	1,991,328	1.37%	Shares
NORTHERN TRUST CORP	$2,036,975	1,711,743	1.18%	Shares
JACOBS LEVY EQUITY MANAGEMENT, INC	$1,976,214	1,660,684	1.15%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$1,693,795	1,423,357	0.98%	Shares
RENAISSANCE TECHNOLOGIES LLC	$1,598,203	1,343,028	0.93%	Shares
CITADEL ADVISORS LLC	$1,561,207	1,311,939	0.91%	Shares
VANGUARD FIDUCIARY TRUST CO	$1,413,868	1,188,124	0.82%	Shares
Cerity Partners LLC	$1,123,420	944,051	0.65%	Shares
Russell Investments Group, Ltd.	$1,051,278	883,428	0.61%	Shares
J. Goldman & Co LP	$869,539	730,705	0.50%	Shares
GatePass Capital, LLC	$689,036	579,022	0.40%	Shares
JPMORGAN CHASE & CO	$564,852	462,993	0.33%	Shares
Bank of New York Mellon Corp	$563,708	473,705	0.33%	Shares
Coppell Advisory Solutions LLC	$548,049	80	0.32%	Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$480,616	403,879	0.28%	Shares
AMERIPRISE FINANCIAL INC	$406,707	341,771	0.24%	Shares
Squarepoint Ops LLC	$395,858	332,654	0.23%	Shares
DIMENSIONAL FUND ADVISORS LP	$387,140	325,047	0.22%	Shares
Invesco Ltd.	$361,676	303,930	0.21%	Shares
BRIDGEWAY CAPITAL MANAGEMENT, LLC	$339,150	285,000	0.20%	Shares
Schonfeld Strategic Advisors LLC	$322,428	270,949	0.19%	Shares
Worth Venture Partners, LLC	$314,755	264,500	0.18%	Shares
JANE STREET GROUP, LLC	$289,512	243,287	0.17%	Shares
Nuveen, LLC	$269,145	226,172	0.16%	Shares
Quinn Opportunity Partners LLC	$261,919	220,100	0.15%	Shares
TWO SIGMA INVESTMENTS, LP	$257,562	216,439	0.15%	Shares
Hillsdale Investment Management Inc.	$253,232	212,800	0.15%	Shares
Argos Wealth Advisors, LLC	$248,606	208,913	0.14%	Shares
BANK OF AMERICA CORP /DE/	$240,169	201,823	0.14%	Shares
CANADA PENSION PLAN INVESTMENT BOARD	$231,693	194,700	0.13%	Shares

Show all 135 institutional owners →

Activists & 5%+ owners 3 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Lucas Merwan Haldeman ×2 filings	April 7, 2023	·	Initial filing	·	SEC
Real Estate Technology Ventures Associates, L.P., Real Estate Technology Ventures, L.P., Real Estate Technology Ventures-A, L.P., RET Ventures SPV I, L.P., RETV GP, LLC, Real Estate Technology Ventures II, L.P., Real Estate Technology Ventures Associates II, L.P., RETV GP II, LLC, John Helm, Christopher Yip ×9 filings	Feb. 17, 2023	·	Initial filing	·	SEC
Fifth Wall Acquisition Sponsor, LLC, Brendan Wallace, Andriy Mykhaylovskyy ×2 filings	Aug. 19, 2022	·	Initial filing	Passive investment	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 32 insiders · 15 officers · 10 directors

19

Insider	Role	Last activity	Shares owned	Buys 12m	Net 12m
Frank Martell	Chief Executive Officer	Sept. 30, 2026 M	75,630	20	$1,653,921
Lucas Merwan Haldeman	Chief Executive Officer	July 24, 2024 M	20,307	0	$0
Daryl Stemm	CFO	Jan. 27, 2026 A	118,828	0	$0
Hiroshi Okamoto	CFO	Dec. 9, 2023 M	27,974	0	$0
Jonathan Wolter	Chief Financial Officer	Nov. 29, 2021 P	5,100	0	$0
Pankaj Bansi	Chief Operating Officer	April 23, 2026 A	·	0	$0
Demetrios Barnes	Chief Operating Officer	Nov. 23, 2022 M	33,770	0	$0
Sangeeth Ponathil	Chief Information Officer	May 26, 2026 P	10,000	1	$12,500
Natalie Cariola	Chief Revenue Officer	May 20, 2026 M	130,082	0	$0
Isaiah Derose-Wilson	Chief Technology Officer	Nov. 18, 2025 M	113,461	0	$0
Kristen Morse Lee	General Counsel	July 18, 2025 M	68,646	0	$0
Robyn Young	Chief Marketing Officer	May 9, 2025 M	63,063	0	$0
Brian M Roberts	Chief Legal Officer	April 3, 2023 M	8,631	0	$0
Mitch Karren	Chief Product Officer	July 19, 2022 M	39,611	0	$0
Christopher Jon Edmonds	Chief Revenue Officer	July 19, 2022 M	187,673	0	$0
Thomas N Bohjalian	Director	Aug. 20, 2026 P	781,062	6	$511,350
Ann Sperling	Director	May 12, 2026 A	340,894	0	$0
Alison Dean	Director	May 12, 2026 A	235,929	0	$0
John C Dorman	Director	May 12, 2026 A	565,894	0	$0
Frederick C Tuomi	Director	May 12, 2025 M	399,263	0	$0
Bruce C Strohm	Director	Aug. 23, 2024 M	275,114	0	$0
Alana Beard	Director	May 13, 2024 M	109,078	0	$0
Robert T. Best	Director	Aug. 24, 2023 M	56,412	0	$0
Brian Michael Mcquaid	·	Aug. 14, 2026 M	39,817	0	$0
Ana G. Pinczuk	·	Aug. 11, 2026 P	385,704	1	$153,010
Michael Shane Paladin	·	May 12, 2025 S	0	0	$0
Andriy Mykhaylovskyy	·	Aug. 24, 2021 M	9,528,500	0	$0
Brendan Wallace	·	Aug. 24, 2021 M	9,528,500	0	$0
Angela C. Huang	·	Aug. 24, 2021 M	36,000	0	$0
Fifth Wall Acquisition Sponsor, LLC	·	Aug. 24, 2021 M	9,528,500	0	$0
Wisdom Lu	·	Aug. 24, 2021 M	36,000	0	$0
Victor J Coleman	·	Aug. 24, 2021 M	36,000	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 13 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
IWC · iShares Trust	0.05%	581,123 SH	Sept. 11, 2026	Daily
OMFS · Invesco Exchange-Traded Self-Indexe…	0.01%	30,733 SH	Oct. 2, 2026	Daily
VTWO · VANGUARD SCOTTSDALE FUNDS	0.01%	989,292 SH	Aug. 19, 2026	Daily
VTWV · VANGUARD SCOTTSDALE FUNDS	0.01%	148,827 SH	Aug. 19, 2026	Daily
PRFZ · Invesco Exchange-Traded Fund Trust	0.01%	179,708 SH	Oct. 2, 2026	Daily
IWM · iShares Trust	0.01%	4,489,081 SH	Sept. 11, 2026	Daily
RSSL · Global X Funds	0.01%	81,729 NS	July 31, 2026	N-PORT
ITOT · iShares Trust	0.00%	315,149 SH	Sept. 11, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.00%	2,053,217 SH	Aug. 19, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.00%	4,755,163 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	15,299 SH	Aug. 19, 2026	Daily
VGT · VANGUARD WORLD FUND	0.00%	4,338,729 SH	Aug. 19, 2026	Daily
IWN · iShares Trust	·	1,744,442 SH	Sept. 11, 2026	Daily

SMRT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 7 analysts SELL

Median target $1.45 +20.8%

0 0.0% Strong Buy

0 0.0% Buy

4 57.1% Hold

1 14.3% Sell

2 28.6% Strong Sell

12-Month Price Target

2 analysts · 2026-09-27

Mean target $1.45 +20.8%

← Below all targets Current price $1.20

Low$1.40 Mean$1.45 High$1.50

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
SMRT	$383M	-6.3	-12.9%	-39.8%	-25.7%	·
LPTH	·	-43.0	92.8%	-28.6%	-18.1%	36.0%
MASS	$191M	9.7	17.7%	34.7%	13.3%	50.6%
AIOT	$413M	-20.5	22.4%	-4.6%	-4.5%	55.5%
VUZI	$307M	-9.0	9.1%	-513.8%	-120.5%	-16.9%
CODA	$116M	27.7	30.8%	15.6%	7.2%	66.5%
WRAP	$123M	-10.8	3.7%	-221.2%	-88.9%	57.8%
SOTK	$67M	39.0	2.0%	8.6%	9.4%	50.5%
LINK	$61M	-29.8	1.8%	-13.6%	-16.8%	38.9%

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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SMRT Class A SmartRent, Inc. Class A Common Stock