SmartRent’s Upcoming Q3 Results Preview
<p>Deutsche Bank analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/SMRT'>SmartRent, Inc. (NYSE:SMRT)</a> ahead of the upcoming Q3 earnings announcement, noting that demand is healthy but supply/labor limits near-term upside.</p>
<p>The analysts expect Q3/Q4 revenue to be in line with their forecast despite risks of slowing Capex by multi-family owners/operators, as the company continues to work down its high level of backlog (of approximately 100k units), with supply and labor constraints as the limiting factors. </p>
<p>The analysts turned more cautious on the company's installation capacity next year, as their recent checks suggest the company’s current team can only install a maximum of 25-30k units per month when fully trained, and the company has been prudently slowing down hiring. </p>
<p>Deutsche Bank’s EPS estimate for fiscal 2023 is unchanged at a loss of $0.20, and they continue to expect the company to turn EBITDA positive in the first half of 2024 and cash flow positive in Q4/2023.</p>

NYSE:SMRT