SmartRent Q3 revenue falls 30% YoY to $40.5M; SaaS ARR rises 23% to $53M

SmartRent, Inc.

2024-Q3 EPS reported -$0.11 revenue$139,517,000

Total revenue $40.5M (-30% YoY); SaaS revenue $13.3M (+23% YoY); net loss $(9.9)M vs $(7.7)M.
Adjusted EBITDA loss improved 24% to $(3.8)M; gross margin expanded ~1,000 bps to 33.2%.
ARR reached $53.2M vs $43.3M a year ago; Units Deployed 787k (+15% YoY).
Repurchased 9.8M shares for $17.1M; $22.6M remaining under $50M buyback program.
Hired Natalie Cariola as CRO; CEO search ongoing after July leadership change.

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