SmartRent Shares Down 16% Since Q4 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/SMRT'>SmartRent (NYSE:SMRT)</a> shares fell more than 16% since the company reported its Q4 results on Wednesday, with revenue coming in at $40.6 million, missing the Street estimate of $46.58 million.</p>
<p>Management expects Q1/23 revenue to be in the range of $55-58 million, compared to the Street estimate of $52.362 million. For the full year, the company expects revenue of $225-250 million, below the Street estimate of $266.2 million.</p>
<p>Despite the weak results, Deutsche Bank analysts said they are encouraged that the company is focusing on driving profitable growth through higher ARPU rather than just unit deployments, and the company reiterated its previous target to reach positive EBITDA sometime in 2023. </p>
<p>The analysts are also encouraged that supply challenges have eased, allowing the company to ship a new generation of hub devices, driving better revenue growth and hardware margins.</p>

NYSE:SMRT