Slide 1: Q1 2024 Earnings Deck
Q1 2024 Earnings Deck MAY 2024
Slide 2: Forward-Looking Statements; Use of Non-GAAP Financial Measures
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future financial or operating p
Slide 3: Q1 2024 Key Financial Highlights
Q1 2024 Key Financial Highlights 1. Revenue Diversification: $50.5M total revenue with strong SaaS revenue growth 2. SaaS Expansion: $47.6M ARR, up 32% YoY 3. Margin Expansion: Favorable product mix, increases in Alloy SmartHome hardware 4. Profitability: Positive Adjusted EBITDA of $397K, net losse
Slide 4: Recent Highlights – Continued trend of Adj. EBITDA Profitable
Recent Highlights – Continued trend of Adj. EBITDA Profitable $397K 32% 38.5% ADJUSTED EBITDA STRONG SaaS REVENUE TOTAL GROSS PROFITABLE (1) GROWTH MARGIN Q1 2024 Adjusted EBITDA a Q1 2024 SaaS Revenue: Q1 2024 Gross Margin 105% improvement from $11.9M, up 32% Y/Y up from 14.0% Q1 2023 $(8.5)M in Q1
Slide 5: Q1 2024 Performance Comparison (Y/Y)
Q1 2024 Performance Comparison (Y/Y) Revenue ($ Millions) Total Units Deployed Total Revenue Down 22% y/y Total Units Deployed Up 24% Y/Y Hosted Revenue Up 20% y/y Note: Information as of March 31, 2024. Source: SmartRent SEC filings. 5
Slide 6: Gross Margin Comparison (Y/Y)
Q1 2024 Gross Margin Comparison (Y/Y) Gross Margin SaaS Gross Margin 2,446 basis point improvement (y/y) 172 basis point improvement (y/y) Gross Margin Improved to 38.5% from 14.0% y/y SaaS Gross Margin Improved to (up from 28.2% in Q4 2023) 75.1% from 73.4% y/y Note: Information as of March 31, 202
Slide 7: Adjusted EBITDA Comparison (Y/Y)
Q1 2024 Adjusted EBITDA Comparison (Y/Y) Adjusted EBITDA (000’s) $8.9M Improvement Y/Y Adjusted EBITDA loss improved Y/Y and two consecutive periods of Adjusted EBITDA profitability On-track to grow Adjusted EBITDA profitability through 2024 Note: Information as of March 31, 2024. Source: SmartRent
Slide 8: Q2 and Full-Year 2024 Outlook
Q2 and Full-Year 2024 Outlook Q2 2024 FULL-YEAR 2024 TOTAL REVENUE $49M to $55M $260M to $290M ADJUSTED EBITDA (1) ($500K) to $500K $5M to $8M (1) See Appendix for definition. 8
Slide 9: Appendix
0 Appendix
Slide 10: TTM Consolidated Balance Sheet
TTM Consolidated Balance Sheet (Unaudited, $ in thousands, except per share amounts) Note: Information as of March 31, 2024. Source: SmartRent SEC filings. 23
Slide 11: TTM Condensed Consolidated Statement of Operations
TTM Condensed Consolidated Statement of Operations (Unaudited, $ in thousands, except per share amounts) Note: Information as of March 31, 2024. Source: SmartRent SEC filings. 24
Slide 12: Reconciliation of net loss to EBITDA and Adjusted EBITDA
Reconciliation of net loss to EBITDA and Adjusted EBITDA (Unaudited, $ in thousands) Note: Information as of March 31, 2024. Source: SmartRent SEC filings. 25
Slide 13: Definition of Operating Metrics
Definition of Operating Metrics We review the following operating metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our metrics are not based on any standardized industry methodology and are not n