SmartRent Inc. (NYSE:SMRT) Q4 2023 Results Conference Call March 5, 2024 10:30 AM ET Company Participants Brian Ruttenbur - Senior Vice President of Investor Relations Lucas Haldeman - Founder, Chairman & CEO Daryl Stemm - Chief Financial Officer Conference Call Participants Soham Bhonsle - BTIG Ryan Tomasello - KBW Tom White - D.A. Davidson & Company Brett Knoblauch - Cantor Fitzgerald Operator Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39991 SMARTRENT, INC. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) 8665 E. Hartford Drive, Suite 200 Sco ...

Exhibit 99.1 SmartRent Reports Fourth Quarter 2023 Results – Adjusted EBITDA Positive Ended the Year with $216 million in Cash, Cash Equivalents and Restricted Cash Announcing $50 million Share Repurchase Program, Investment in Community WiFi Solution Scottsdale, Ariz., March 5, 2024 – (BUSINESS WIRE) – SmartRent, Inc. (NYSE: SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three ...

SmartRent, Inc. (NYSE:SMRT) Q3 2023 Earnings Conference Call November 7, 2023 10:30 AM ET Company Participants Brian Ruttenbur - Senior Vice President-Investor Relations Lucas Haldeman - Chairman & Chief Executive Officer Hiroshi Okamoto - Chief Financial Officer Conference Call Participants Nikhil Vijay - KBW Erik Woodring - Morgan Stanley Sidney Ho - Deutsche Bank Brett Knoblauch - Cantor Fitzgerald Tom White - D.A. Davidson & Co. Operator Hello, and welcome to smartrent.com Inc. Conference Call. Please n ...

Q SmartRent® November 2023 This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements address our expected future business and financial performance, and may contain words such as "goal," "target," "future," "estimate," ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39991 SMARTRENT, INC. (Exact name of Registrant as specified in its charter) Delaware 85-4218526 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. ...

Start Time: 12:30 January 1, 0000 1:05 PM ET SmartRent, Inc. (NYSE:SMRT) Q2 2023 Earnings Conference Call August 08, 2023, 12:30 PM ET Company Participants Lucas Haldeman - Chairman and CEO Hiroshi Okamoto - CFO Brian Ruttenbur - SVP, IR Conference Call Participants Sidney Ho - Deutsche Bank Ryan Tomasello - KBW Erik Woodring - Morgan Stanley Tom White - D.A. Davidson Brett Knoblauch - Cantor Fitzgerald Operator Good afternoon, and welcome to the SmartRent Second Quarter 2023 Earnings Call. Please note that ...

Forward Looking Statements The forward-looking statements herein represent the judgment of the Company as of the date of this presentation, and we disclaim any intent or obligation to update forward-looking statements, unless required by applicable law. This presentation should be reviewed in conjunction with the information included in our press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important to fully understanding our reported results ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39991 SMARTRENT, INC. (Exact name of Registrant as specified in its charter) Delaware 85-4218526 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Emplo ...

Financial Data and Key Metrics Changes - The company reported a record total revenue of $65 million for Q1 2023, representing a 74% increase year-over-year and a 60% sequential increase from Q4 2022 [42][51] - Adjusted EBITDA improved significantly from negative $14 million in Q4 2022 to negative $8.5 million in Q1 2023, marking the fourth consecutive quarter of improvement [42][78] - Total gross margin increased from 10% to 14%, driven by efficiencies and economies of scale [54][56] Business Line Data and Key Metrics Changes - All three revenue streams (hardware, professional services, and hosted services) grew during the quarter, with hardware revenue increasing nearly $20 million and professional services by $4 million [51][52] - SaaS revenue increased by 11% sequentially, pushing SaaS ARR to $36 million, up from $32 million last quarter [53] - SaaS ARPU for all products increased from $5.12 to $5.21, a 2% increase sequentially, while ARPU for Booked Units improved by 23% sequentially [53] Market Data and Key Metrics Changes - The company noted that the macroeconomic environment is showing steady same-store and NOI growth, with no significant dip in demand despite concerns in the commercial real estate market [26][29] - The demand for Community WiFi solutions is significant, with expectations of generating $30 to $50 in NOI per month per unit for property owners [72] Company Strategy and Development Direction - The company is focusing on optimizing solutions and managing expenses while meaningfully growing revenue year-over-year [44] - There is a strategic emphasis on cross-selling and upselling within the existing customer base, with a dedicated account management team to enhance client relationships [46][68] - The company is committed to hardware manufacturing as a fundamental aspect of its business model, which allows for better margins and integration with property management systems [47][69] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the first two quarters of 2023 being stronger than anticipated, with steady demand in both single-family and multifamily rentals [26][29] - The company reaffirmed its full-year guidance for revenue of $225 million to $250 million and adjusted EBITDA of negative $25 million to negative $15 million [92] Other Important Information - The company ended the quarter with a cash balance of $204 million, providing ample liquidity for working capital requirements [56] - A headcount reduction of about 10% was implemented, contributing to a decrease in general and administrative expenses by approximately $2 million [91] Q&A Session Summary Question: What drove the growth in SaaS ARR? - Management indicated that the 11% quarter-to-quarter growth in SaaS ARR is indicative of future growth, driven by new product additions [5][6] Question: Can you discuss the ARPU opportunities for Community WiFi and insurance? - Management noted that Community WiFi presents a larger ARPU opportunity compared to IoT, and there are significant partnership opportunities in insurance [9][11] Question: Is there any churn in the customer base? - Management clarified that the slight decrease in customer numbers was due to legacy SightPlan customers, with no material churn from SmartRent IoT [20][22] Question: How is the company managing cash flow and burn? - Management reported a cash burn of about $11 million for the quarter, with expectations to reduce this to half of last year's burn rate [99][103] Question: What are the expectations for gross margins across key revenue lines? - Management expects hardware margins to stabilize in the low 20% range by year-end, while professional services are projected to reach breakeven in 2024 [97]