SmartRent, Inc. - SMRT STOCK NEWS

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.

SmartRent (NYSE: SMRT), a provider of smart home and building automation, is set to release its financial results for the second quarter of 2021 on August 30, 2021, after market close. A conference call will follow at 5:00 PM ET to discuss these results. Additionally, Lucas Haldeman, CEO, will present at the Deutsche Bank Technology Conference on September 9, 2021. This release marks an upcoming opportunity for investors to gauge the company's performance and strategic direction.

SmartRent, Inc. has completed its business combination with Fifth Wall Acquisition Corp. I and will begin trading on the NYSE under the ticker SMRT starting tomorrow. This transaction, approved on August 23, 2021, provides SmartRent with approximately $450 million in cash for growth investments in the smart building management market. The company plans to scale its operations in response to increasing demand for smart home technology. SmartRent's management team remains intact, and the company aims to enhance revenue opportunities for property owners.

Stein Mart, Inc. (NASDAQ: SMRT) has filed for Chapter 11 bankruptcy in Jacksonville, Florida, citing substantial financial distress exacerbated by the ongoing retail challenges and the COVID-19 pandemic. The company plans to close most, if not all, of its brick-and-mortar locations while initiating a liquidation sale. Operations will continue in the short term, including payment of employee wages and supplier obligations. Stein Mart is assessing strategic alternatives, including a potential sale of its eCommerce segment. The restructuring is supported by legal and advisory teams.

Stein Mart reported a net loss of $(65.7) million or $(1.38) per share for Q1 2020, a sharp decline from a net income of $4.0 million or $0.08 per share in Q1 2019. The results were heavily impacted by COVID-19, leading to temporary store closures and a drop in net sales to $134.3 million from $314.2 million. The company faced challenges with liquidity, increasing debt by $44 million to $197.8 million. Omni sales increased by 17% year-over-year, but overall sales remain below expectations. Stein Mart has implemented measures to preserve liquidity amidst ongoing uncertainties.