NYSE$SMRT
Smartrent Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
SmartRent's Q3 2021 financial performance was marked by significant revenue growth and operational milestones, driven by strong customer demand and efficient execution.
SmartRent reported a strong third quarter in 2021, with a 112% increase in revenue to $35.1 million. The company achieved record unit deployments and bookings, and significantly increased SaaS ARR. Despite these gains, the company experienced a net loss and adjusted EBITDA loss, influenced by a warranty charge and increased operating expenses.
- Revenue increased by 112% year-over-year, reaching a record $35.1 million.
- Deployed units increased by 111% year-over-year, totaling 59,347 units.
- New units booked increased by 134% year-over-year, reaching 49,706 units.
- SaaS ARR grew by 158% year-over-year, reaching $8.7 million.
Headline financials
Revenue & EPS history
Smartrent · Revenue · Quarterly
$35.1M
Revenue by segment
Smartrent · $35.1M total across 3 segments · Q3 2021
- Hardware$22M—62.7%
- Professional services$8.18M—23.3%
- Hosted services$4.93M—14.0%
Forward guidance
SmartRent anticipates deploying approximately 161,000 units for 2021 but revises revenue expectations to a range of $100 to $105 million due to supply chain restraints.
Tailwinds
- Growing demand for products.
- Scaling personnel to meet demand.
- Expects to deploy approximately 161,000 units for 2021.
- Received approximately $445 million in net cash proceeds from business combination.
- Financial flexibility to invest in strategic initiatives.
Headwinds
- Supply chain and logistics remain a concern.
- Experiencing extended delivery times for some hardware components.
- Revising expectations for revenue in 2021 to a range of $100 to $105 million.
- Revenue impacted by supply chain restraints in deployment of Fusion Hub and Alloy Access.
- Competitive labor market.
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 Q3 2021
-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 |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| 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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