SmartRent Shares Surge 14% on Q3 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/SMRT'>SmartRent (NYSE:SMRT)</a> shares gained more than 14% on Friday following the company’s reported Q3 results, with revenue coming in at $47.5 million, compared to the Street estimate of $43.42 million. EPS was ($0.13), compared to the Street estimate of ($0.11).</p>
<p>The upside was driven primarily by a slight improvement in the supply chain, although backlog remains elevated and only came down slightly from a quarter ago. On the demand side, management remains confident that customers are focusing on operational improvement and cost savings, which are key value propositions of the company’s products and services. </p>
<p>The company expects Q4/2022 revenue in the range of $38-53 million, compared to the Street estimate of $46.09 million. For the full 2022 year, the company expects revenue to be in the range of $165-180 million, compared to the Street estimate of $168.93 million.</p>

NYSE:SMRT