Slide 1: 2023 2Q Earnings Deck
2023 2Q Earnings Deck August 2023
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of
Slide 3: 2Q 2023 - Improved Operating Performance; Path to Adjusted EBITDA Breakeven by Year End
2Q 2023 - Improved Operating Performance; Path to Adjusted EBITDA Breakeven by Year End Strong Revenue Total Revenue of $53.4M vs. 2Q 2022 of $42.4M, up 26%: Hosted Services (SaaS) up 26% Y/Y; Deployed Units were Growth up 48K in the period to 650K. SaaS ARR SaaS ARR was up 8% to $38.8M From $36.0M
Slide 4: Q2 2023 Performance Y/Y Comparison
Q2 2023 Performance Y/Y Comparison Revenue (000’s) Total Units Deployed +26% +44% 700,000 $60,000 $53,402 600,000 $50,000 $42,409 500,000 $40,000 $27,788 400,000 $20,895 $30,000 650,324 300,000 $20,000 $10,050 451,010 200,000 $9,123 $10,000 100,000 $15,564 $12,391 $0 0 Q2-22 Q2-23 Q2-22 Q2-23 Hosted
Slide 5: Q2 2023 Gross Margin Y/Y Comparison
Q2 2023 Gross Margin Y/Y Comparison Gross Margin SaaS Gross Margin 1,620 basis point improvement 2,420 basis point improvement 20.00% 80.00% 18.00% 70.00% 16.00% 60.00% 14.00% 12.00% 50.00% 10.00% 18.50% 40.00% 75.10% 8.00% 30.00% 6.00% 50.90% 4.00% 20.00% 2.00% 10.00% 2.30% 0.00% Q2-22 Q2-23 0.00%
Slide 6: Adjusted EBITDA Y/Y Comparison
Adjusted EBITDA Y/Y Comparison Adjusted EBITDA (000’s) $13.4M Improvement $0 Q2-22 Q2-23 Adjusted EBITDA loss ($6,444) improved Y/Y and ($5,000) sequentially – 5 consecutive periods of improvement ($10,000) ($19,831) On-track to be Adjusted ($15,000) EBITDA breakeven by end of 2023 ($20,000) Cash Fl
Slide 7: Full-Year 2023 Outlook
Full-Year 2023 Outlook 3Q 2023 4Q2023 Current 2023 Previous 2023 Total Revenue $57M to $62M $58M to $70M $233M to $250M $225M to $250M Adjusted $(6.5)M to $(4.5)M $0M to $2M $(22)M to $(18)M $(25)M to $(15)M EBITDA Expect Adjusted EBITDA breakeven by year end 2023 Cash Flow breakeven within six mont
Slide 8: Preferred Distribution Agreement with ADI Global
Preferred Distribution Agreement with ADI Global Benefits Our Cash Position, Enhances Our Ability to Scale, and Converts Fixed Costs Into Variable Costs ▪ Expect our cash to 2Q 2023 Significant Reduction increase as we transfer a Inventory $60.5M in Inventory portion of our existing (12 months) inve
Slide 9: Community WiFi | New Large Market
Community WiFi | New Large Market Unit Economics – based on 200 Unit Apartment Community ▪ SmartRent is the only company offering a total Unit Economics (200 Unit Apartment) 20% solution to the $250K-350K multifamily market IRR for Cash Expense REIT/Mgmt Co ▪ The majority of our to Deploy WiFi custo
Slide 10: Current Solutions
Current Solutions Smart Home1 ARPU $7-$15 Inspection Management1 Smart Community Features Resident Self-Guided Work App1 Tours2 Management2 ARPU $1-$2 ARPU $1-$3 Community WiFi ARPU $10-$15 Asset Protection1 Answer Automation2 Audit Parking Management2 Management2 ARPU $1-$2 Smart Package Room2 ARPU
Slide 11: Large Market For Continued Internal Growth
Large Market For Continued Internal Growth 44M 6.9M 650K+ 15 of 20 Number of US US Units Owned or Just over 650K Units Top Owners Professionally Managed Controlled by SmartRent Deployed by SmartRent to Choose SmartRent Multifamily Units Customers date (largest in Multifamily) ▪ Leader in Multifamily
Slide 12: Q&A/Appendix
Q&A/Appendix 12
Slide 13: TTM Consolidated Balance Sheet
TTM Consolidated Balance Sheet (Unaudited, $ in thousands, except per share amounts) Note information as of June 30, 2023. Source SmartRent SEC filings. 13
Slide 14: TTM Condensed Consolidated Statement of Operations
TTM Condensed Consolidated Statement of Operations (Unaudited, $ in thousands, except per share amounts) Note information as of June 30, 2023. Source SmartRent SEC filings. 14
Slide 15: Reconciliation of Non-GAAP Metrics
Reconciliation of Non-GAAP Metrics ($ in thousands) Note information as of June 30, 2023. Source SmartRent SEC filings. 15
Slide 16: Definition of Key Operating Metrics
Definition of Key Operating Metrics SmartRent regularly monitors several operating and financial metrics to evaluate its operating performance, identify trends affecting its business, formulate business plans, measure its progress, and make strategic decisions. SmartRent's key operating metrics may