SmartRent Q3 revenue $47.5M record, up 12% QoQ; narrows full-year guidance to high end

SmartRent, Inc.

2022-Q3 EPS reported -$0.38 revenue$127,270,000

Record total revenue $47.5M, up 12% sequentially and 35% YoY; SaaS ARR $31.8M (+264% YoY).
Adjusted EBITDA improved to $(17.6)M from $(19.8)M in Q2; net loss $(26.0)M.
Achieved 500,000 Units Deployed milestone; over 800,000 committed units in pipeline.
Full-year 2022 revenue guidance narrowed to $165-180M (prior $155-180M); reaffirms Adjusted EBITDA $(75)-(70)M.
Gross margin rose to 2.5%; hardware gross margin turned positive at 4.7%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SmartRent, Inc. reported third quarter ended September 30, 2022 results: revenue Record total revenue of $47.5 million, net income Net loss of $(26.0) million.

Period: third quarter ended September 30, 2022
Revenue: Record total revenue of $47.5 million
Net income: Net loss of $(26.0) million
Result: reported results

Exact text from the filing

Record total revenue of $47.5 million, up 12% quarter-over-quarter and up 35% year-over-year • SaaS ARR of $31.8 million, up 4% quarter-over-quarter and up 264% year-over-year • Net loss of $(26.0) million, down 1% quarter-over-quarter and up 3% year-over-year

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Source: SEC EDGAR

accession 0000950170-22-024538

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