SMRT - Why SmartRent Shares Are Down Today | Benzinga
SmartRent (NYSE:SMRT) shares are trading lower after the company reported worse-than-expected fourth-quarter earnings and issued soft revenue guidance for first-quarter and FY24.
Revenue rose 49% Y/Y to $60.25 million, beating the consensus of $59.50 million. SaaS revenue increased 43% Y/Y to $11.6 million in the quarter.
As of the end of the year, Units Deployed stood at 719,691. ARR Booked in the quarter exceeded $5 million for the second consecutive quarter and Net Revenue Retention for the year was 105%.
Adjusted EBITDA stood at $0.7 million, the first period of generating ...