Slide 1: Next-Level Smart Investor Overview
Villa Lago - Venterra Next-Level Smart Investor Overview March 2024 NYSE : SMRT
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: SmartRent Highlights
SmartRent Highlights 1. Leading Smart Home Technology Provider to the Rental Housing Market 2. Largest Operators in the Industry Utilize SmartRent 3. Broadest Combination of Hardware & SaaS Solutions with the Only End-to-End Open-API Platform 4. Community WiFi Expands the Market Opportunity 5. Attra
Slide 4: Leading Smart Home Technology Provider; Largest Operators Use SmartRent
1. Leading Smart Home Technology Provider to the Rental Housing Market + More deployed rental housing units 720K 3,800+ Units Deployed 1 than all other providers combined Apartment Communities 1 2. Largest Operators in the Industry Utilize SmartRent + The largest owners & operators are current Smart
Slide 5: Largest Operators in the Industry Leverage SmartRent (Continued)
2. Largest Operators in the Industry Leverage SmartRent (Continued) 7.0M 10X 1 + Large opportunity to deploy with our existing customers US Units Owned or Unit Growth Opportunity Controlled by Our with Our Existing Customers ~600 Customers + Opportunity to upsell and cross sell (Currently Deployed 7
Slide 6: Illustrative Sales Cycle & Portfolio Rollouts
2. Largest Operators in the Industry Leverage SmartRent (Continued) Illustrative Sales Cycle & Portfolio Rollouts + The chart represents portfolio rollouts of eight customers + SmartRent has nearly 600 customers with over 7.0 million units as of Dec. 31, 2023, representing a significant organic grow
Slide 7: Broadest Combination of Hardware & SaaS Solutions with Open-API Platform
Smart Home1 Self-Guided 3. Broadest Combination of Hardware & SaaS Solutions ARPU $7-$15 Tours1 Inspection with the Only End-to-End Open-API Platform Management2 ARPU $1-$2 Resident App1 Work Smart Community Features Management2 ARPU $1-$3 Community WiFi Asset ARPU $10-$15 Protection1 Answer Automat
Slide 8: Broadest Combination of Hardware & SaaS Solutions (Continued)
3. Broadest Combination of Hardware & SaaS Solutions with the Only End-to-End Open-API Platform (Continued) Standard Smart Home Package Flexible Technology Solution Alloy Hub+ Yale YRD652 Lock Alloy Leak Sensor Honeywell T6 Pro LoRa/WiFi Leak Honeywell WiFi Schlage Salto BLE Thermostat Detector BLE
Slide 9: Community WiFi Expands the Market Opportunity
4. Community WiFi Expands the Market Opportunity + Community WiFi is a managed WiFi Advantages for Owners Advantages for Renters solution that delivers secure, wireless, high-speed internet across an entire + Provide a secure, high-speed network property. A network of strategically + Resident-friend
Slide 10: Community WiFi Unit Economics
4. Community WiFi Expands the Market Opportunity (Continued) Unit Economics – Based on 200-Unit Apartment Community + SmartRent is the only company offering a total Unit Economics solution to the (200 Unit Apartment) $250 - $300K 20% multifamily market Cash Expense IRR for to Deploy WiFi REIT/Mgmt C
Slide 11: Attractive Investment Returns for Customers on Existing and New Offerings
5. Attractive Investment Returns for Customers on Existing and New Offerings Operational Efficiencies 20 - 30% * Savings on Utilities + Reach centralization goals + Operate in one platform for a fully integrated ecosystem + Self-guided tours to optimize showing hours + Automated documentation + Auto
Slide 12: Large and Underpenetrated Market
6. Large and Underpenetrated Market + Over 90% of SmartRent revenues are generated by retrofit vs. new construction 44M Less Than 3% Number of US Professionally Penetration of Smart Managed Rental Units Technology into Professionally Managed Rental Units + Multi-Billion $ Recurring Revenue TAM Solut
Slide 13: Strong Balance Sheet
7. Strong Balance Sheet $216M $18M + $216M in cash, no debt and a $75M undrawn line of credit Cash position as Cash increase in last 6 of Dec. 31, 2023 months of 2023 primarily from lower inventory (ADI did not contribute) Preferred Agreement with ADI Global Distribution + Benefits our cash position
Slide 14: Prudent Capital Allocation Priorities
8. Prudent Capital Allocation Priorities + Announced a $50M stock repurchase program in March 2024 $50M $ STOCK + Shared plans to increase investments in Community technology and personnel to support REPURCHASE WiFi1 our Community WiFi offering to deliver sustainable growth while aiming to March 202
Slide 15: Market-Leading Position in Competitive Landscape
9. Market-Leading Position in Competitive Landscape Direct Indirect formally IoT Competition in Rental Housing + SmartRent is the largest provider of IoT solutions to the rental housing market (larger than all its competitors combined) Direct Indirect Community WiFi Competition + SmartRent is one of
Slide 16: Appendix
0 Appendix Q SmartRent®
Slide 17: Recent Highlights – Adj. EBITDA Profitable; Announcing Stock Repurchase
Recent Highlights – Adj. EBITDA Profitable; Announcing Stock Repurchase $0.74M 41% 43% 28% ADJUSTED EBITDA STRONG REVENUE ARR GROWTH TOTAL GROSS PROFITABLE (1) GROWTH MARGIN Up from $(14.1)M in Q4 2022 2023 Total Revenue: ARR: Q4 2023 Gross Margin: and from $(5.0)M in Q3 2023 $236.8M, up 41% Y/Y $46
Slide 18: Strong Revenue Growth and Gross Margin Expansion 2020-2023
Strong Revenue Growth and Gross Margin Expansion 2020-2023 Gross Margin Expansion Increased 2,910 bps vs. 2020 2023 20.9% 2022 0.8% 2021 (9.1)% 2020 (8.2)% 18 Note: Information as of December 31, 2023. Source: SmartRent SEC filings.
Slide 19: Growing Unit Deployments 2020-2023
Growing Unit Deployments 2020-2023 Total Units Deployed 19 Note: Information as of December 31, 2023. Source: SmartRent SEC filings.
Slide 20: ARR Growth with Steadily Expanding Margins 2020-2023
ARR Growth with Steadily Expanding Margins 2020-2023 ARR ($ Millions) SaaS Gross Margin Expansion Increased 4,090 bps vs 2020 2023 74.9% 2022 55.7% 2021 19.0% 2020 34.0% 20 Note: Information as of December 31, 2023. Source: SmartRent SEC filings.
Slide 21: Adjusted EBITDA by Quarter – Consecutive Quarters of Improvement
Adjusted EBITDA(1) by Quarter ($ Millions) – 7 Consecutive Quarters of Improvement Note: Information as of December 31, 2023. Source: SmartRent SEC filings. 21 (1) See Appendix for reconciliation of net loss to EBITDA and Adjusted EBITDA for each period indicated.
Slide 22: Q1 and Full-Year 2024 Outlook
Q1 and Full-Year 2024 Outlook Q1 2024 FULL-YEAR 2024 TOTAL REVENUE $47M to $53M $260M to $290M ADJUSTED EBITDA (1) $(1)M to $250K $5M to $8M • $50M Stock Repurchase Program • Investing in Community WiFi Solution 22 (1) See Appendix for definition.
Slide 23: TTM Consolidated Balance Sheet
TTM Consolidated Balance Sheet (Unaudited, $ in thousands, except per share amounts) Note: Information as of December 31, 2023. Source: SmartRent SEC filings. 23
Slide 24: TTM Condensed Consolidated Statement of Operations
TTM Condensed Consolidated Statement of Operations (Unaudited, $ in thousands, except per share amounts) TO BE UPDATED Note: Information as of December 31, 2023. Source: SmartRent SEC filings. 24
Slide 25: 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 December 31, 2023. Source: SmartRent SEC filings. 25
Slide 26: 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
Slide 27: Next-Level Smart – IR Contact
Next-Level Smart IR Contact Brian Ruttenbur Senior Vice President, Investor Relations investors@smartrent.com NYSE : SMRT