SmartRent Q4 revenue up 49% YoY, first positive Adjusted EBITDA; $50M buyback authorized

SmartRent, Inc.

Q4 revenue $60.3M (+49% YoY); SaaS revenue $11.6M (+43% YoY).
Q4 Adj. EBITDA $0.7M (first positive), vs. $(14.1M) loss in Q4 2022.
Cash $215.7M, no debt; $50M share repurchase authorized.
Q1 2024 guidance: revenue $47-53M; full-year revenue $260-290M, Adj. EBITDA $5-8M.
Units deployed 719,691; New Units deployed in 2023 down 17% YoY.

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 fourth quarter and fiscal year ended December 31, 2023 results: revenue $60.3 million and $236.8 million for Q4 and full year, respectively, net income $(3.3) million and $(34.6) million for Q4 and full year, respectively.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $60.3 million and $236.8 million for Q4 and full year, respectively
Net income: $(3.3) million and $(34.6) million for Q4 and full year, respectively
Result: reported results

Exact text from the filing

an investor call to discuss results today, March 5, 2024, at 10:30 a.m. Eastern Time. Financial and Business Highlights for the Fourth Quarter and Full-Year 2023 ● Revenue of $60.3 million and $236.8 million for Q4 and full year, respectively, up 49% and 41% year-over-year, respectively. ● SaaS Revenue of $11.6 million and $41.1 million for Q4 and full year,

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SmartRent, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-025421

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