SmartRent Q1 SaaS revenue up 32% to $11.9M; net loss narrows 42% to $7.7M

SmartRent, Inc.

2024-Q1 EPS reported -$0.04 revenue$50,489,000

SaaS ARR hit a record $47.6M; SaaS gross margin improved to 75.1% from 73.4%.
Total revenue $50.5M (-22% YoY) as hardware and professional services declined.
Adjusted EBITDA turned positive at $0.4M vs -$8.5M a year ago.
Gross margin expanded to 38.5% from 14.0% on favorable product mix.
Q2 2024 guidance: revenue $49-55M; full-year guidance unchanged: revenue $260-290M, adjusted EBITDA $5-8M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SmartRent, Inc. reported second quarter of 2024 results: revenue $49 to $55 million. Guidance initiated.

Period: second quarter of 2024
Revenue: $49 to $55 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Second Quarter 2024 Guidance • Total Revenue in the range of $49 to $55 million. • Adjusted EBITDA in the range of $(0.5) million to $0.5 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SmartRent, Inc. reported full year 2024 results: revenue $260 million to $290 million. Guidance reaffirmed.

Period: full year 2024
Revenue: $260 million to $290 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Unchanged - Full-Year 2024 Guidance • Total Revenue in the range of $260 million to $290 million. • Adjusted EBITDA in the range of $5 million to $8 million.

View on SEC.gov

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SmartRent, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-055083

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