SmartRent, Inc. Q1 Loss decreases, but misses estimates

(RTTNews) - SmartRent, Inc. (SMRT) announced Loss for first quarter that decreased from the same period last year but missed the Street estimates.

The company's bottom line came in at -$7.692 million, or -$0.04 per share. This compares with -$13.215 million, or -$0.07 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.4% to $50.489 million from $65.079 million last year.

SmartRent, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$7.692 Mln. vs. -$13.215 Mln. last year. -EPS (Q1): -$0.04 vs. -$0.07 last year. -Revenue (Q1): $50.489 Mln vs. $65.079 Mln last year.

-Guidance: Next quarter revenue guidance: $49 to $55 Mln Full year revenue guidance: $260 to $290 Mln