NYSE$SMRT
Smartrent Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
SmartRent's Q1 2022 saw record revenue and bookings, driven by growth in units deployed and customer base, along with the strategic acquisition of SightPlan.
SmartRent reported a record revenue of $37.4 million and bookings of $72.0 million in Q1 2022. The company deployed over 51,000 new units and added 41 new customers. They also acquired SightPlan to enhance platform capabilities.
- Total revenue increased by 95% year-over-year to a record $37.4 million.
- SaaS annual recurring revenue (ARR) increased by 205% year-over-year to $16.3 million.
- Units Deployed increased by 58% year-over-year to 51,196.
- Units Booked increased by 101% to 91,482 and Bookings increased by 122% to $72.0 million year-over-year, both setting company records.
Headline financials
Revenue & EPS history
Smartrent · Revenue · Quarterly
$37.4M
Revenue by segment
Smartrent · $37.4M total across 3 segments · Q1 2022
- Hardware$22.1M+78.4%59.2%
- Hosted Services$8.34M+163.7%22.3%
- Professional Services$6.91M+91.9%18.5%
Forward guidance
SmartRent is maintaining its guidance for full-year 2022 and providing guidance for the second quarter of 2022. The estimates presented below represent a range of possible outcomes and may differ materially from actual results. These estimates exclude the impact of potential acquisitions, capital markets activity, and unforeseen potential challenges with supply chain and logistics.
Tailwinds
- Total Revenue of $220 to $250 million for full year 2022.
- Adjusted EBITDA of $(50) to $(35) million for full year 2022.
- Units Deployed of 280,000 to 320,000 for full year 2022.
- Total Revenue of $47 to $55 million for quarter ended June 30, 2022.
- Units Deployed of 64,000 to 75,000 for quarter ended June 30, 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2022
-0.7%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-1.4%
Avg return
30 days after
48%
10 / 21 earnings
Positive
+28.6%
Q3 2023
Best reaction
-31.0%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -18.2% | -18.2% | -23.8% | |
| Q4 2025 | +15.7% | +15.6% | -1.3% | |
| Q3 2025 | +3.0% | +8.1% | +45.9% | |
| Q1 2025 | +5.2% | -10.3% | +1.8% | |
| Q4 2024 | +7.1% | -8.7% | -20.5% | |
| Q3 2024 | -14.2% | -12.5% | +4.5% | |
| Q2 2024 | -7.9% | -16.4% | -2.4% | |
| Q1 2024 | -2.8% | -2.4% | -4.5% | |
| Q4 2023 | -6.2% | -6.2% | -11.4% | |
| Q3 2023 | +28.6% | +17.0% | +25.5% | |
| Q2 2023 | -12.6% | -10.8% | -18.9% | |
| Q1 2023 | +24.9% | +36.0% | +29.5% | |
| Q4 2022 | -1.2% | +1.5% | -2.7% | |
| Q3 2022 | +25.4% | +25.4% | +4.2% | |
| Q2 2022 | -31.0% | -33.9% | -44.9% | |
| Q1 2022 | +4.3% | +20.6% | +31.0% | |
| Q4 2021 | -14.3% | -7.8% | -26.0% | |
| Q3 2021 | -18.2% | -11.7% | -10.6% | |
| Q2 2021 | -3.3% | +8.8% | -2.5% | |
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| Q4 2020 | +0.1% | — | — | |
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