SmartRent, Inc. - SMRT STOCK NEWS

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 $2.0 million in annual recurring revenue and 16,600 completed units, broadening SmartRent’s customer base with 19 new clients controlling around 100,000 units. iQuue's expertise in new construction complements SmartRent's growth strategy. The integration will enhance smart device capabilities for iQuue clients, providing additional features and services. This move strengthens SmartRent's position in the multifamily market.

SmartRent, Inc. (NYSE: SMRT) has secured a $75 million Senior Secured Revolving Credit Facility with a five-year term to bolster its smart home technology offerings. The facility features an interest rate linked to the Term SOFR Rate, along with an option for an additional $75 million. This credit line will enhance SmartRent's balance sheet, enabling growth in both organic initiatives and potential acquisitions. The facility is backed by the company’s assets and guaranteed by its key subsidiaries, reflecting investor confidence in its business model and growth trajectory.

SmartRent reported a 112% increase in revenue for Q3 2021, totaling $35.1 million. The company deployed 59,347 units, marking a 111% growth year-over-year and increased committed units to over 704,000. Despite these gains, SmartRent posted an adjusted EBITDA loss of $16.1 million and net loss per share of $(0.31). The company revised its revenue guidance for 2021 to between $100 million and $105 million due to supply chain issues. With a cash balance of $472.5 million, SmartRent remains well-positioned for growth.

SmartRent, Inc. (NYSE: SMRT) is set to release its financial results for Q3 2021 on November 10, after market close. The announcement will be followed by a conference call at 5:00 PM Eastern Time, featuring CEO Lucas Haldeman and CFO Jon Wolter. Investors can access the call via phone or through a live webcast available on SmartRent's Investor Relations website. Founded in 2017, SmartRent specializes in smart home and building technology, providing property managers and residents with enhanced control and cost-saving solutions.

SmartRent (NYSE: SMRT) has announced its integration with AppFolio Property Manager, enhancing its IoT platform for property management. This integration automates the synchronization of units, leases, residents, and service orders, improving efficiency for property management businesses. With this collaboration, SmartRent aims to expand its reach in the housing market and deliver innovative solutions to both multifamily and single-family properties. Founded in 2017, SmartRent provides seamless control and visibility over property assets, offering additional revenue opportunities.

SmartRent.com, Inc. (NYSE: SMRT), a leader in smart home and building automation, announced that CEO Lucas Haldeman will speak at a spotlight call hosted by Zelman & Associates on September 10, 2021, at 11:00 AM ET. Founded in 2017, SmartRent provides technology solutions for property managers and residents, enhancing control, visibility, and generating cost savings. The company aims to deliver comprehensive home control solutions to improve asset management for property stakeholders.

SmartRent, Inc. (NYSE:SMRT) reported a record second quarter revenue of $21.7 million, a 274% increase from $5.8 million in the same period last year. Deferred revenue rose 133% year-over-year to $74.5 million, with 23,834 new units deployed, up 243%. The company completed a business combination with Fifth Wall Acquisition Corp. I and launched new access control products. Despite growth, the company incurred a net loss of $(10.1) million and $(17.7) million in adjusted EBITDA for the first half of 2021.