SmartRent, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 05, 2024 at 08:00 am EST
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SmartRent, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 60.25 million compared to USD 40.55 million a year ago. Net loss was USD 3.3 million compared to USD 21.39 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.11 a year ago.
For the full year, the company reported revenue was USD 236.84 million compared to USD 167.82 million a year ago. Net loss was USD 34.59 million compared to USD 96.32 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.49 a year ago.
SmartRent, Inc. is a provider of smart home and smart property solutions for the multifamily industry. The Company's platform, comprised of smart hardware and cloud-based software-as-a-service solutions, gives operators visibility and control over real estate assets empowering them to simplify operations, automate workflows and deliver site team and resident experiences. Through a Hub Device, the Company enables the integration of its platform with third-party smart devices, its own hardware devices and other technology interfaces. It uses an open-architecture, brand-agnostic approach that allows owners, operators, and residents to manage their smart home systems through a single connected interface. Its solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident WiFi. It provides customers with training, installation and support services.
SMARTRENT, INC. 
