secwatch.observer — SEC 8-K summary
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Issuer:     SmartRent, Inc. (SMRT)
CIK:        0001837014
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0000950170-25-065029
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartRent Q1 revenue down 18% to $41.3M; net loss widens to $40.2M on $24.9M goodwill impairment
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- SaaS revenue up 17% to $14.0M, but total revenue fell 18% as hardware revenue dropped 35% to $18.8M.
- ARR $55.9M (+17% YoY); Units Deployed 827,611 (+10%), but new units deployed fell 39% and bookings down 61%.
- Net loss $(40.2)M incl. $24.9M non-cash goodwill impairment; adjusted EBITDA loss $(6.4)M vs $0.4M profit a year ago.
- Operating expenses include $5.0M legal accrual; company implemented $10M in cost reductions.
- Cash $125.6M, no debt, $75M undrawn credit facility; repurchased 1.0M shares for $1.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837014/000095017025065029/0000950170-25-065029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837014/000095017025065029/smrt-20250507.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-065029

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