SmartRent Q2 revenue up 96% to $42.4M, net loss widens; cuts 2022 outlook on supply chain

SmartRent, Inc.

2022-Q2 EPS reported -$0.25 revenue$79,768,000

Record Q2 revenue $42.4M (+96% YoY); SaaS ARR $30.6M (+337%); net loss widened to $25.6M.
Adjusted EBITDA loss $19.8M vs $9.3M a year ago; gross margin improved to 2.3% from 1.3%.
Revised FY2022 guidance downward citing unprecedented supply chain constraints; backlog at record levels.
Deployed 60,329 new units (+153% YoY); total deployed units 451,010 (+113%).
Appointed Terry Danner (ex-SightPlan CEO) as EVP of Sales; added to Russell 2000/3000 indexes.

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