SmartRent Posts Wider Loss In Q1

(RTTNews) - SmartRent, Inc. (SMRT) reported a first quarter net loss of $40.18 million compared to a loss of $7.69 million, prior year. Loss per share was $0.21 compared to a loss of $0.04.

Total revenue was $41.3 million, a 18% decrease from the same quarter in the prior year. SaaS revenue was $14.0 million, increased by 17% year over year.

John Dorman, SmartRent's Interim CEO, said: "We have taken foundational steps to rebuild SmartRent as a more customer-centric, execution-driven organization. While our adoption pace has not yet matched the scale of our installed base, we are actively retooling our operations to better align with how customers adopt, deploy and expand our solutions."

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