Smartrent Inc Stock Price, News & Analysis

SmartRent, Inc. (NYSE: SMRT) achieved a record revenue of $42.4 million for Q2 2022, reflecting a 96% increase year-over-year. SaaS ARR surged 337% to $30.6 million. Despite these gains, the company reported a net loss of $(25.6) million, widening from $(10.1) million in Q2 2021. SmartRent ended June 30 with $263.2 million in cash and faced supply chain constraints, affecting its 2022 outlook. The firm has deployed over 450,000 units and anticipates improved margins and growth from recent acquisitions.

SmartRent, Inc. (NYSE: SMRT) announces the appointment of Terry Danner as Executive Vice President of Sales, following its acquisition of SightPlan in March 2022. Danner, previously CEO of SightPlan, will lead the integration of product sales and operations for both companies. His extensive experience in the multifamily housing sector is expected to drive strategic growth, enhancing SmartRent's service offerings. CEO Lucas Haldeman praised Danner's seasoned leadership as vital for the company's future growth and scalability.

SmartRent, Inc. (NYSE: SMRT) is set to announce its Q2 2022 financial results on August 11, 2022, post-market. A conference call will follow at 5 p.m. ET to discuss these results. Investors can join via domestic dial-in at 1-877-407-3982 or international dial-in at 1-201-493-6780, using passcode 13730376. The call will also be available as a webcast on SmartRent's Investor Relations website. SmartRent specializes in hardware and cloud-based SaaS solutions for real estate, enhancing management and control for various stakeholders.

SmartRent, Inc. (NYSE: SMRT), a leader in smart home and building automation, announced that CEO Lucas Haldeman and CFO Hiroshi Okamoto will participate in upcoming investor conferences. They will host a fireside chat at the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference in Boston on May 24 at 10:10 a.m. ET. Additionally, they will engage in a virtual chat at the KBW Real Estate Finance & Technology Conference on May 26 at 11:00 a.m. ET. SmartRent enhances property management with smart solutions, lowering costs and improving resident experiences.

SmartRent, Inc. (NYSE: SMRT) reported record revenues of $37.4 million for Q1 2022, a 95% increase year-over-year, driven by a surge in smart home automation demand. The company deployed over 51,000 new units and booked 91,482 units, leading to total bookings of $72.0 million. However, it reported a net loss of $(23.4) million, widening from $(9.3) million a year earlier. SmartRent acquired SightPlan for approximately $135 million, aiming to enhance its platform capabilities while increasing annual recurring revenue by 205% to $16.3 million.

SmartRent, Inc. (NYSE: SMRT) has appointed Robyn Young as its first Chief Marketing Officer, effective May 9, 2022. Young brings extensive experience from Western Alliance Bancorporation, where she led marketing and communications during significant growth. Her role will focus on enhancing SmartRent's marketing strategy and establishing its market leadership in smart home technology. Young's appointment rounds out the executive team, which has seen recent additions including a Chief Financial Officer and a Chief Legal Officer. SmartRent aims to improve operational efficiencies for property owners and enhance resident experiences.

SmartRent, Inc. (NYSE: SMRT) has appointed Hiroshi Okamoto as CFO, effective May 9, 2022. Okamoto brings extensive experience from his previous role as CFO of Kinkisharyo International, along with expertise in investment banking and entrepreneurship. He aims to enhance SmartRent's operational excellence and contribute to its growth in the real estate technology sector. The former CFO, Jonathan Wolter, will remain as a consultant until the end of May to ensure a smooth transition.

SmartRent, Inc. (NYSE: SMRT) has announced its plan to release Q1 2022 financial results on May 11, 2022, after market close. The company will host a conference call and webcast at 5 p.m. Eastern Time the same day to discuss the results. Interested participants can join via a domestic dial-in number or International dial-in number, both of which require a passcode. SmartRent provides smart home and automation solutions for property management, enhancing operational efficiency and resident experience.

SmartRent, Inc. (NYSE: SMRT) reported a significant total revenue growth of 111% year-over-year, reaching approximately $111 million. The company deployed over 1.0 million units, with a notable 155% increase in fourth-quarter revenue of $34.7 million. Despite these successes, net losses rose to $(72 million) for the full year. Adjusted EBITDA for Q4 was $(21.8 million). SmartRent also increased its cash reserves to $432.1 million as of December 31, 2021, following a public listing in August 2021.