SmartRent Stock Surges 10% on Q4 Earnings Beat

SmartRent, a property technology company, reported Q4 earnings that beat expectations, with revenue up 3% to $36.5 million and annual recurring revenue increasing 13% to $61.6 million. The company also turned an adjusted EBITDA loss into a profit and improved its GAAP loss per share. Despite struggling since going public in 2021, SmartRent's results show promise for growth, with plans to expand its deployed base and leverage AI. The stock rose 10% on the news.