SmartRent Q1 SaaS revenue +32% to $11.9M; Adj EBITDA positive $0.4M

SmartRent, Inc.

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

SaaS revenue $11.9M (+32% YoY), SaaS ARR record $47.6M, ARPU $5.41 (+4%).
Total revenue $50.5M (-22% YoY) reflecting shift to profitable growth; hardware/services down.
Net loss improved to $7.7M from $13.2M; Adj EBITDA $0.4M vs -$8.5M, second consecutive positive.
Gross margin expanded to 38.5% (14% prior year); SaaS gross margin 75.1%.
Q2 guidance rev $49-55M, Adj EBITDA -$0.5M-$0.5M; full-year rev $260-290M unchanged.

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 0.95

SmartRent, Inc. reported three months ended March 31, 2024 results: revenue $50.5 million, net income $(7.7) million. Guidance reaffirmed.

Period: three months ended March 31, 2024
Revenue: $50.5 million
Net income: $(7.7) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

is hosting an investor call to discuss results today, May 8, 2024, at 11:30 a.m. Eastern Time. Financial and Business Highlights for the First Quarter 2024 • Total Revenue of $50.5 million, decreased by 22 percent year-over year. • SaaS Revenue of $11.9 million, increased by 32 percent year-over year. • Net Loss of $(7.7) million, improved by 42 percent from

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Source: SEC EDGAR

accession 0000950170-24-056114

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