Overview

* SmartRent ( SMRT ) Q2 revenue falls 21%, missing analyst expectations, per LSEG data

* Net loss widens to $10.9 mln, missing analyst expectations, per LSEG data

* Company expands cost reduction program to $30 mln, targeting cash flow neutrality

Outlook

* SmartRent ( SMRT ) targets cash flow neutrality by end of 2025

* Company expects $30 mln in annualized cost savings

* SmartRent ( SMRT ) anticipates strong liquidity by end of year

* Company sees SaaS revenue growth stabilizing later in 2025

Result Drivers

* HARDWARE REVENUE DECLINE - Revenue fell 21% due to a shift away from bulk hardware sales, impacting hardware revenue by 39%

* SAAS REVENUE GROWTH - SaaS revenue increased by 10% year-over-year, now representing 37% of total revenue, driven by improvements in Units Deployed

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $38.31 $38.80

Revenue mln mln (2

Analysts

)

Q2 EPS -$0.06

Q2 Net Miss -$10.86 -$9.73

Income mln mln (2

Analysts

)

Q2 Beat -$11.68 -$13.50

Operatin mln mln (1

g Income Analyst)

Q2 Beat -$10.89 -$12.50

Pretax mln mln (1

Profit Analyst)

Q2 $24.35

Operatin mln

g

Expenses

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)