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SmartRent, Inc. (symbol: SMRT) is a pioneer in the smart home and smart building technology sector, offering advanced solutions tailored for property owners, managers, and residents. The company’s core business revolves around its innovative platform that provides seamless control and visibility over property assets, aiming to enhance operational efficiency and resident satisfaction.
SmartRent’s comprehensive suite of products includes smart locks, thermostats, lighting, sensors, and other devices that can be centrally managed through a unified interface. This holistic approach not only promotes cost savings but also opens up new revenue streams for property managers through all-in-one home control offerings.
Operating primarily in the United States, with a growing international presence, SmartRent is continually expanding its market footprint. Recent projects include partnerships with leading real estate firms to integrate smart technologies into large-scale residential and commercial developments.
Financially, SmartRent has shown robust performance with steady revenue growth driven by increasing demand for smart home solutions. The company’s strategic collaborations and innovative product launches have bolstered its market position, making it a significant player in the industry.
Overall, SmartRent’s dedication to enhancing the living experience through technology positions it as a forward-thinking leader in the smart home market, committed to driving value for its stakeholders.
SmartRent, Inc. (NYSE: SMRT) has appointed Robyn Young as its first Chief Marketing Officer, effective May 9, 2022. Young brings extensive experience from Western Alliance Bancorporation, where she led marketing and communications during significant growth. Her role will focus on enhancing SmartRent's marketing strategy and establishing its market leadership in smart home technology. Young's appointment rounds out the executive team, which has seen recent additions including a Chief Financial Officer and a Chief Legal Officer. SmartRent aims to improve operational efficiencies for property owners and enhance resident experiences.
SmartRent, Inc. (NYSE: SMRT) has appointed Hiroshi Okamoto as CFO, effective May 9, 2022. Okamoto brings extensive experience from his previous role as CFO of Kinkisharyo International, along with expertise in investment banking and entrepreneurship. He aims to enhance SmartRent's operational excellence and contribute to its growth in the real estate technology sector. The former CFO, Jonathan Wolter, will remain as a consultant until the end of May to ensure a smooth transition.
SmartRent, Inc. (NYSE: SMRT) has announced its plan to release Q1 2022 financial results on May 11, 2022, after market close. The company will host a conference call and webcast at 5 p.m. Eastern Time the same day to discuss the results. Interested participants can join via a domestic dial-in number or International dial-in number, both of which require a passcode. SmartRent provides smart home and automation solutions for property management, enhancing operational efficiency and resident experience.
SmartRent, Inc. (NYSE: SMRT) reported a significant total revenue growth of 111% year-over-year, reaching approximately $111 million. The company deployed over 1.0 million units, with a notable 155% increase in fourth-quarter revenue of $34.7 million. Despite these successes, net losses rose to $(72 million) for the full year. Adjusted EBITDA for Q4 was $(21.8 million). SmartRent also increased its cash reserves to $432.1 million as of December 31, 2021, following a public listing in August 2021.
SmartRent, Inc. (NYSE: SMRT) announced the acquisition of SightPlan, Inc. for approximately
SmartRent has been recognized on HousingWire’s Tech100 list for the second consecutive year, highlighting its innovation in the PropTech sector. Serving both retrofit and new construction, the company has installed over one million devices and boasts a user base of 450,000+. Notably, SmartRent serves 15 of the top 20 multifamily residential owners in the U.S. Its solutions enable significant cost savings, with many customers experiencing ROI exceeding 50%. This acknowledgment underscores the critical role of technology in enhancing real estate solutions.
SmartRent, Inc. (NYSE: SMRT) will release its fourth quarter and full-year 2021 financial results on March 24, 2022, after market close. The senior management will host a conference call at 5 p.m. Eastern Time on the same day to discuss these results. Interested participants can join via phone or listen to the live webcast on SmartRent’s Investor Relations website. Founded in 2017, SmartRent offers smart home and building automation solutions aimed at enhancing property management efficiency and creating additional revenue opportunities.
SmartRent, Inc. (NYSE: SMRT) announced an operational update and preliminary revenue for the year ending December 31, 2021. The company deployed approximately 51,000 units in Q4 and 167,000 units for the full year, marking increases of 69% and 100%, respectively, year-over-year. The customer base grew by 62%, and units booked rose 42% to around 84,000 in Q4. SmartRent's revenue is projected between $106 million and $109 million, exceeding prior estimates. The acquisition of iQuue is expected to generate $2 million in Annual Recurring Revenue (ARR) in 2022.
SmartRent (NYSE: SMRT) announced the appointment of Brian Roberts as its new Chief Legal Officer. With over 20 years of corporate legal experience, Mr. Roberts previously served as General Counsel at Grand Canyon University, where he managed legal, compliance, and corporate governance matters. His leadership is expected to strengthen SmartRent’s legal and governance framework as the company pursues its growth strategy. CEO Lucas Haldeman expressed confidence in Roberts' ability to create value for shareholders and enhance compliance practices.
SmartRent Acquires iQuue, expanding its market presence and enhancing service offerings. This acquisition adds approximately
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