SmartRent, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 12:15 pm
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SmartRent, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 58.1 million compared to USD 47.5 million a year ago. Net loss was USD 7.72 million compared to USD 25.95 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.13 a year ago.
For the nine months, revenue was USD 176.59 million compared to USD 127.27 million a year ago. Net loss was USD 31.29 million compared to USD 74.93 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.38 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. 
