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SmartRent (SMRT)
NYSE:SMRT
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.03Last Year’s EPS
-0.02Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Aug 30, 2021
|% Change Since: -10.23%
|Next Earnings Date:Jun 25, 2021
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with significant challenges in revenue and deployments, but also highlighted strategic initiatives and SaaS growth. The strategic focus and investments indicate a proactive approach to these challenges, but the financial results reflect a difficult transition period.Company Guidance
During the SmartRent Q3 2024 earnings call, the company provided comprehensive guidance focusing on strategic initiatives and financial metrics. The call highlighted a 23% year-over-year increase in SaaS revenue, driven by improvements in SaaS ARPU and units deployed, with SaaS ARR climbing to $53.2 million. Despite a 30% decline in total revenue to $40.5 million, the company significantly improved its total gross margin to 33.2% due to changes in product mix and cost management. The company also reported a net loss of $9.9 million, while adjusted EBITDA improved by 24% to a loss of $3.8 million. SmartRent announced a strategic investment of $10 million over the next year to accelerate growth, focusing on sustainable ARR growth, platform superiority, operational excellence, and collaborative innovation. The company repurchased 9.8 million shares for $17.1 million, indicating confidence in its undervalued stock. Despite challenges, SmartRent's leadership remains optimistic about leveraging its strong balance sheet and strategic focus to drive future growth and shareholder value.SaaS Revenue Growth
SmartRent reported a 23% year-over-year increase in SaaS revenue, highlighting improvements in SaaS ARPU and units deployed. SaaS ARR grew to $53.2 million from $43.3 million in the third quarter of 2023.
Share Repurchase Program
The company repurchased 9.8 million shares for $17.1 million, demonstrating the Board's conviction that the stock is undervalued.
Strategic Investment Commitment
SmartRent announced a strategic investment of $10 million over the next year to accelerate momentum and deliver results in strategic transition, focusing on ARR growth, platform superiority, operational excellence, and collaborative innovation.
Improved Gross Margin
Total gross margin improved significantly to 33.2% from 23.3% in the same quarter of the prior year, driven by changes to product mix and cost management.
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SMRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SMRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $1.76 | $1.63 | -7.39% |
| Aug 07, 2024 | $1.65 | $1.56 | -5.45% |
| May 08, 2024 | $2.46 | $2.31 | -6.10% |
| Mar 05, 2024 | $2.89 | $2.76 | -4.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SmartRent (SMRT) report earnings?
SmartRent (SMRT) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is SmartRent (SMRT) earnings time?
SmartRent (SMRT) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SMRT EPS forecast?
SMRT EPS forecast for the fiscal quarter 2024 (Q4) is -0.03.
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