NYSE$SMRT
Smartrent Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
SmartRent's SaaS revenue grew, ARR reached a new record, and gross margins improved.
SmartRent reported a decrease in total revenue but a significant increase in SaaS revenue. The company's net loss improved, and it achieved positive adjusted EBITDA. There was also substantial growth in units deployed and significant improvement in gross margins.
- Total revenue decreased by 22% year-over-year.
- SaaS revenue increased by 32% year-over-year.
- Net loss improved by 42% year-over-year.
- Adjusted EBITDA improved by 105% year-over-year.
Headline financials
Revenue & EPS history
Smartrent · Revenue · Quarterly
$50.5M
Revenue by segment
Smartrent · $58.1M total across 3 segments · Q3 2023
- Hardware$35.6M+33.5%61.3%
- Hosted Services$16.5M+23.8%28.4%
- Professional Services$5.96M-20.3%10.3%
Forward guidance
SmartRent provided revenue and Adjusted EBITDA guidance for Q2 and full-year 2024.
Tailwinds
- Q2 2024 Total Revenue is expected to be in the range of $49 million to $55 million.
- Q2 2024 Adjusted EBITDA is expected to be in the range of $(0.5) million to $0.5 million.
- Full-Year 2024 Total Revenue is expected to be in the range of $260 million to $290 million.
- Full-Year 2024 Adjusted EBITDA is expected to be in the range of $5 million to $8 million.
- Company believes it is well-positioned for long-term growth.
Headwinds
- Estimates exclude the impact of potential acquisitions.
- Estimates exclude the impact of potential capital markets activities.
- Estimates exclude the impact of unforeseen continued challenges with supply chain and logistics.
- Estimates may differ materially from actual results.
- SmartRent has not provided the forward-looking GAAP equivalents or a GAAP reconciliation for forward-looking Adjusted EBITDA.
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 2024
-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% | |
| Q1 2021 | +0.1% | — | — | |
| Q4 2020 | +0.1% | — | — | |
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