Smartrent, Inc. · NYSE:SMRT
Smartrent — Q3 2024 Earnings Presentation
14 slides from Smartrent's earnings presentation, Nov 6, 2024
Slide 1: Quarterly Earnings Update Q3 2024
Smart Community and Smart Operations Solutions for the Rental Housing Industry QUARTERLY EARNINGS UPDATE Q3 2024 November 6, 2024
Slide 2: Forward-Looking Statements
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 pe
Slide 3: Leadership Transition Update
Leadership Transition Update Navigating Change for Sustainable Growth Overall opportunity is unchanged and remains extremely compelling Search Progress Interim Stability Timeline and Expectations Advanced stages in CEO search with top-tier Under interim leadership, SmartRent remains Final candidate
Slide 4: Four Pillars of Progress - Framework for Transition
Four Pillars of Progress - Framework for Transition Building Resilience with Clear Strategic Direction Sustainable ARR Growth Prioritizing scalable, profitable, recurring revenue. Platform Superiority Enhancing our integrated IoT solutions for operational excellence. Operational Excellence Committing
Slide 5: Q3 2024 Key Financial Highlights
Q3 2024 Key Financial Highlights Revenue Diversification Continued ARR Growth Adjusted EBITDA $40.5M $53.2M $(3.8)M +24% Total Revenue Strong SaaS revenue growth amidst ARR Increases in SaaS ARPU +23% Adjusted EBITDA Narrowed from $(5.0) million in same quarter increasing macroeconomic headwinds and
Slide 6: Q3 2024 Revenue and Units Deployed Performance
Q3 2024 Revenue and Units Deployed Performance Revenue ($ Millions) Units Deployed $58.1 $40.5 Total Revenue Down 30% y/y 30% Due to overall lower New Units Deployed 15% Units Deployed Up 15% y/y 12% Hosted Revenue Up 12% y/y 6
Slide 7: Q3 2024 Gross Margin Comparison
Q3 2024 Gross Margin Comparison Gross Margin SaaS Gross Margin Gross Margin (up from 23.3% in Q3 2023) 100 basis point decrease (y/y) ~1,000 basis point improvement (y/y) 7 Note: Information as of September 30, 2024. Source: SmartRent SEC filings.
Slide 8: Q3 2024 Key Takeaways
Q3 2024 Key Takeaways Highlights from the Quarter We are committed to CEO Search Update Cost Management Operational Excellence Made significant progress in the CEO Rigorous cost control measures and Shareholder Value search, ensuring alignment with in place, ensuring operational SmartRent's strategic
Slide 9: Appendix
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Slide 10: TTM Consolidated Balance Sheet
TTM Consolidated Balance Sheet (Unaudited, $ in thousands, except per share amounts) 10 Note: Information as of September 30, 2024. Source: SmartRent SEC filings.
Slide 11: TTM Condensed Consolidated Statement of Operations
TTM Condensed Consolidated Statement of Operations (Unaudited, $ in thousands, except per share amounts) 11 24 Note: Information as of September 30, 2024. Source: SmartRent SEC filings.
Slide 12: Reconciliation of net loss to EBITDA and Adjusted EBITDA
Reconciliation of net loss to EBITDA and Adjusted EBITDA (Unaudited, $ in thousands) 12 24 Note: Information as of September 30, 2024. Source: SmartRent SEC filings.
Slide 13: Definition of Key Operating Metrics
Definition of Key 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
Slide 14: Thank You
THANK YOU For more information, please contact investors@smartrent.com