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SmartRent (SMRT)
NYSE:SMRT
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.04Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 05, 2025
|% Change Since: -33.07%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Negative
The earnings call reflected a company in transition, with significant revenue challenges and strategic shifts impacting financial results. However, there were positive developments in SaaS revenue growth and strategic investments in the platform. The sentiment is mixed but leans towards challenges outweighing achievements.Company Guidance
During the SmartRent, Inc. Fourth Quarter 2024 Earnings Call, newly appointed CEO Shane Paladin and CFO Daryl Stemm provided guidance on the company's strategic transformation toward a SaaS-focused business model. They reported a decline in total revenue to $35.4 million for Q4 2024, down 41% from the previous year, primarily due to reduced hardware sales. However, there was a 17% year-over-year growth in SaaS revenue for the fourth quarter, with annual recurring revenue (ARR) rising to $54.4 million. SaaS now accounts for 38% of the total revenue, up from 19% in the prior year. The company plans to focus on enhancing its SaaS platform and operational excellence, aiming to improve gross margins, which increased to 28.7% in Q4. They also highlighted a $50 million share repurchase program, with $21.6 million remaining, and ended the quarter with a cash balance of $143 million. Looking forward, SmartRent aims to expand its market reach, particularly among mid-market owners, and optimize cost structures to support SaaS growth, while closely monitoring external factors like tariff policy changes that could impact the hardware supply chain.Increase in SaaS Revenue
SaaS revenue grew 17% year over year in the fourth quarter, with annual recurring revenue (ARR) increasing to $54.4 million from $46.2 million in Q4 2023.
Improved Gross Margin
Gross margin improved to 28.7% in Q4 from 28.2% in the same quarter last year, with a full-year gross margin improvement to 34.5% from 20.9%.
Strategic Investment in SaaS Platform
The company has made strategic investments in its SaaS platform, aiming to drive smart operations revenue growth and enhance the SaaS ARPU, which increased by 3% to $5.68.
Successful Share Repurchase Program
Repurchased approximately 15.2 million shares at an aggregate cost of $28.6 million during 2024, reflecting confidence in the company's long-term value.
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SMRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SMRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 05, 2025 | $1.27 | $1.36 | +7.09% |
| Nov 06, 2024 | $1.76 | $1.63 | -7.39% |
| Aug 07, 2024 | $1.65 | $1.56 | -5.45% |
| May 08, 2024 | $2.46 | $2.31 | -6.10% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SmartRent (SMRT) report earnings?
SmartRent (SMRT) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is SmartRent (SMRT) earnings time?
SmartRent (SMRT) earnings time is at May 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SMRT EPS forecast?
SMRT EPS forecast for the fiscal quarter 2025 (Q1) is -0.04.
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