Loading...
•
Sep 30, 2024
Smartrent Q3 2024 Earnings Report
SmartRent's Q3 2024 performance reflected resilience and strategic focus amidst market headwinds, marked by a 23% increase in SaaS revenue and a record SaaS ARR of $53.2 million.
Key Takeaways
SmartRent reported a 30% decrease in total revenue year-over-year, totaling $40.5 million, while SaaS revenue increased by 23% to $13.3 million. The company's net loss increased to $(9.9) million, but adjusted EBITDA improved by 24% to $(3.8) million. SmartRent repurchased 9.8 million shares at a cost of $17.1 million and ended the quarter with $163.7 million in cash and cash equivalents.
Total revenue decreased by 30% year-over-year to $40.5 million.
SaaS revenue increased by 23% year-over-year to $13.3 million.
Net loss increased by 29% year-over-year to $(9.9) million.
Adjusted EBITDA improved by 24% year-over-year to $(3.8) million.
Revenue by Segment
Forward Guidance
SmartRent believes its balance sheet and capital management will enable it to work through the leadership transition, address operational challenges, and invest in growth strategies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...