The latest announcement is out from SmartRent ( (SMRT) ).
SmartRent, a leader in smart community solutions, reported a 23% increase in SaaS revenue for Q3 2024, despite a 30% decrease in total revenue compared to the previous year. The company focused on strategic growth areas, including hiring a new Chief Revenue Officer to boost sales. With a strong cash position of $164 million and a share repurchase program underway, SmartRent aims to capitalize on market opportunities and enhance shareholder value. However, challenges remain with a net loss of $9.9 million and decreased hardware and professional services revenue.
See more insights into SMRT stock on TipRanks’ Stock Analysis page.
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