SmartRent reports Q4 EPS (2c), consensus (1c)

Reports Q4 revenue $60.25M, consensus $59.49M. “In the fourth quarter we achieved our two-year goal to become Adjusted EBITDA profitable, marking a new inflection point in our company’s history,” said SmartRent CEO Lucas Haldeman. “We accomplished this goal by executing deliberate, strategic actions in our operations and by focusing on the three tenets of our business that create our sustainable competitive advantage: purpose-built hardware, open software and robust end-to-end implementation and support. We are proud to mark this milestone and look forward to continuing to develop innovative solutions to strengthen our market-leading position as the smart communities and operations provider to the rental housing industry. In 2024, this includes investing in scaling our Community WiFi capabilities to take advantage of the early-stage multi-billion dollar market opportunity and complement our existing product offerings.”