secwatch.observer — SEC 8-K summary
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Issuer:     SmartRent, Inc. (SMRT)
CIK:        0001837014
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0000950170-24-055083
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837014/000095017024055083/0000950170-24-055083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837014/000095017024055083/smrt-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-055083

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