NYSE$SMRT
Smartrent Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Achieved adjusted EBITDA profitability and ended the year with a strong cash position.
SmartRent reported a 49% increase in Q4 revenue, reaching $60.3 million, and achieved positive adjusted EBITDA of $0.7 million, marking a significant milestone in the company's history. The company ended the year with $215.7 million in cash and announced a $50 million stock repurchase program.
- Q4 revenue increased by 49% year-over-year to $60.3 million.
- SaaS revenue grew by 43% year-over-year to $11.6 million.
- Net loss significantly improved to $(3.3) million, an 85% decrease year-over-year.
- Adjusted EBITDA was positive at $0.7 million, compared to a $(14.1) million loss in Q4 2022.
Headline financials
Revenue & EPS history
Smartrent · Revenue · Quarterly
$60.3M
Revenue by segment
Smartrent · $38.3M total across 3 segments · Q2 2025
- Hosted services$18.8M—49.2%
- Hardware$15.1M—39.5%
- Professional services$4.33M—11.3%
Forward guidance
SmartRent anticipates growth and profitability may be impacted in the first half of the year due to investment in scaling Community WiFi capabilities, with a rebound expected in the second half of the year. The company provided guidance for Q1 2024 with total revenue of $47 to $53 million and Adjusted EBITDA of $(1) million to positive $250 thousand. Full-year 2024 guidance includes total revenue of $260 to $290 million and Adjusted EBITDA of $5 to $8 million.
Tailwinds
- Strong balance sheet allows for investment in the business and enhanced shareholder value.
- Community WiFi offers a tremendous and sustainable multi-billion dollar growth opportunity.
- Expects growth and profitability will rebound in the second half of the year.
- Focus on scaling Community WiFi capabilities to complement existing product offerings.
- Believes there is no better investment than in the Company with $50 million stock repurchase program.
Headwinds
- Growth and profitability may be impacted in the first half of the year.
- Wi-Fi sales cycles and deployments require significantly longer periods of time versus the IoT offerings.
- Estimates exclude the impact of potential acquisitions, capital markets activities, and unforeseen continued challenges with supply chain and logistics.
- Estimates are forward-looking based on the Company’s current assessment of demand for its product, execution capabilities and market conditions, as well as other risks.
- Has not provided the forward-looking GAAP equivalents or a GAAP reconciliation for forward-looking Adjusted EBITDA in this presentation due to the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense.
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 Q4 2023
-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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| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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