secwatch.observer — SEC 8-K summary
======================================

Issuer:     SmartRent, Inc. (SMRT)
CIK:        0001837014
Form:       8-K/A
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000950170-24-056114
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837014/000095017024056114/0000950170-24-056114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837014/000095017024056114/smrt-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-056114

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