secwatch.observer — SEC 8-K summary
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Issuer:     SmartRent, Inc. (SMRT)
CIK:        0001837014
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000950170-23-059760
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837014/000095017023059760/0000950170-23-059760-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837014/000095017023059760/smrt-20231107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-059760

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer