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Dec 31, 2021
Smartrent Q4 2021 Earnings Report
SmartRent's Q4 2021 financial results were released, showcasing significant revenue growth and strategic acquisitions.
Key Takeaways
SmartRent reported a 155% increase in total revenue for Q4 2021, reaching $34.7 million. The company experienced growth in SaaS ARR, Hosted Services ARPU, and Units Deployed. Net loss was $(26.0) million, and adjusted EBITDA was $(21.8) million. The company ended the year with a strong cash balance of $432.1 million.
Total revenue increased by 155% to $34.7 million compared to Q4 2020.
SaaS ARR grew by 114% to $10.6 million compared to Q4 2020.
Hosted Services ARPU increased by 2% to $6.86 compared to Q4 2020.
Deployed 52,076 organic units, a 72% increase compared to Q4 2020.
Smartrent
Smartrent
Smartrent Revenue by Segment
Revenue by Segment
Hardware Revenue
CapyFin.comProfessional Services Revenue
CapyFin.comHosted Services Revenue
CapyFin.com Forward Guidance
The Company continues to experience strong demand for its smart home enterprise software solutions and is providing guidance for full-year 2022 and the first quarter of 2022.
Positive Outlook
- 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 $35 to $37 million for quarter ended March 31, 2022.
- Units Deployed of 46,000 to 48,000 for quarter ended March 31, 2022.
Challenges Ahead
- Estimates exclude the impact of potential acquisitions.
- Estimates exclude the impact of capital markets activity.
- Estimates exclude unforeseen potential challenges with supply chain and logistics.
- Estimates are forward-looking based on the Company’s current assessment of demand for its product.
- Estimates are forward looking based on execution capabilities and market conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income