SmartRent Inc. (SMRT) Financial Statements (2024 and earlier)

Company Profile

Business Address 8665 E HARTFORD DRIVE SUITE 200
SCOTTSDALE, AZ 85255
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7373 - Computer Integrated Systems Design (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments215,214210,409430,841
Cash and cash equivalents215,214210,409430,841
Restricted cash and investments4957,0571,268
Receivables61,90362,44245,486
Inventory, net of allowances, customer advances and progress billings41,57575,72533,208
Inventory41,57575,72533,208
Prepaid expense7,1445,04215,084
Deferred costs11,79413,5417,835
Other current assets2,2154,1402,285
Total current assets:340,340378,356536,007
Noncurrent Assets
Operating lease, right-of-use asset   
Property, plant and equipment1,4002,0691,874
Intangible assets, net (including goodwill)144,517148,39112,666
Goodwill117,268117,26812,666
Intangible assets, net (excluding goodwill)27,24931,123 
Deferred costs11,25122,50818,334
Other noncurrent assets12,2489,52110,802
Other undisclosed noncurrent assets   
Total noncurrent assets:169,416182,48943,676
TOTAL ASSETS:509,756560,845579,683
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities21,75026,93117,296
Employee-related liabilities6,588
Accounts payable15,07618,3606,149
Accrued liabilities6,6748,5714,559
Deferred revenue77,25780,02042,185
Other liabilities5,8159,3914,981
Other undisclosed current liabilities12,48716,4346,106
Total current liabilities:117,309132,77670,568
Noncurrent Liabilities
Liabilities, other than long-term debt49,99963,86959,613
Deferred revenue45,90359,92853,412
Other liabilities4,0963,9416,201
Total noncurrent liabilities:49,99963,86959,613
Total liabilities:167,308196,645130,181
Equity
Equity, attributable to parent342,448364,200449,502
Common stock202019
Additional paid in capital628,156615,281604,077
Accumulated other comprehensive income (loss)(216)(176)9
Accumulated deficit(285,512)(250,925)(154,603)
Total equity:342,448364,200449,502
TOTAL LIABILITIES AND EQUITY:509,756560,845579,683

Income Statement (P&L) ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Revenues236,838167,821110,637
Cost of revenue(187,309)(166,473)(120,710)
Gross profit:49,5291,348(10,073)
Operating expenses(92,688)(105,599)(61,579)
Operating loss:(43,159)(104,251)(71,652)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(116)59555
Interest and debt expense   (27)
Loss from continuing operations before equity method investments, income taxes:(43,275)(103,656)(71,624)
Other undisclosed income (loss) from continuing operations before income taxes8,5801,946(222)
Loss from continuing operations before income taxes:(34,695)(101,710)(71,846)
Income tax expense (benefit)1085,388(115)
Loss from continuing operations:(34,587)(96,322)(71,961)
Loss before gain (loss) on sale of properties:(71,961)
Net loss available to common stockholders, diluted:(34,587)(96,322)(71,961)

Comprehensive Income ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Net loss:(34,587)(96,322)(71,961)
Other comprehensive loss(40)(185)(226)
Other undisclosed comprehensive loss   
Comprehensive loss:(34,627)(96,507)(72,187)
Other undisclosed comprehensive income, net of tax, attributable to parent   
Comprehensive loss, net of tax, attributable to parent:(34,627)(96,507)(72,187)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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