SmartRent Q3 revenue $58.1M (+22% YoY); Adj. EBITDA loss narrows; guides to Q4 profitability

SmartRent, Inc.

2023-Q3 EPS reported -$0.16 revenue$176,585,000

Revenue $58.1M (+22% YoY); net loss $(7.7)M, 70% improvement YoY.
Adjusted EBITDA $(5.0)M, sixth consecutive quarter of improvement; guides to Q4 Adj. EBITDA $0-2M.
Hardware gross margin 22.7% (record high); hosted services margin 64.3%; SaaS gross margin 74.2%.
Cash balance $211.0M, up $14M from Q2; first quarter of significant cash generation since going public.
Tightened FY2023 revenue guidance to $235-240M; Adj. EBITDA $(20)-(18)M.

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 the third quarter ended September 30, 2023 results: revenue $58.1 million, net income $(7.7) million. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $58.1 million
Net income: $(7.7) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Management is hosting an investor call to discuss results today, November 7, 2023, at 10:30 a.m. Eastern Time. Third Quarter 2023 Financial and Business Highlights • Revenue of $58.1 million, up 22% year-over-year. • Gross profit of $13.5 million, up over 1,000% year-over-year. • Net loss of $(7.7) million, a 70% improvement year-over-year. • Adjusted EBITDA of

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SmartRent, Inc. reported full year 2023 results: revenue $235 to $240 million. Guidance reaffirmed.

Period: full year 2023
Revenue: $235 to $240 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company has tightened its full year 2023 guidance to $235 to $240 million from $233 to $250 million in revenue and to $(20) to $(18) million from $(22) to $(18) million in Adjusted EBITDA.

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Source: SEC EDGAR

accession 0000950170-23-059760

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