XML 44 R26.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Revenue and Deferred Revenue (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Summary of Disaggregation of Revenue | In the following tables, revenue is disaggregated by primary geographical market, type of revenue, and SmartRent Solution.
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenue by geography |  |  |  |  |  |  |  |  |
United States |  | $ | 235,553 |  |  | $ | 165,795 |  |  | $ | 108,072 |
International |  |  | 1,285 |  |  |  | 2,026 |  |  |  | 2,565 |
Total revenue |  | $ | 236,838 |  |  | $ | 167,821 |  |  | $ | 110,637 |
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenue by type |  |  |  |  |  |  |  |  |
Hardware |  | $ | 137,201 |  |  | $ | 87,372 |  |  | $ | 69,629 |
Professional services |  |  | 35,473 |  |  |  | 32,301 |  |  |  | 22,732 |
Hosted services |  |  | 64,164 |  |  |  | 48,148 |  |  |  | 18,276 |
Total revenue |  | $ | 236,838 |  |  | $ | 167,821 |  |  | $ | 110,637 |
| For the years ended December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
| (dollars in thousands) |
SmartRent Solutions | Hardware |  | Professional Services |  | Hosted Services |  | Total 2023 |  |  | Hardware |  | Professional Services |  | Hosted Services |  | Total 2022 |  |  | Hardware |  | Professional Services |  | Hosted Services |  | Total 2021 |
Smart Communities Solutions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Smart Apartments | $ | 130,894 |  | $ | 30,546 |  | $ | 49,696 |  | $ | 211,135 |  |  | $ | 82,799 |  | $ | 30,419 |  | $ | 37,605 |  | $ | 150,823 |  |  | $ | 64,393 |  | $ | 22,082 |  | $ | 17,458 |  | $ | 103,933 |
Access Control |  | 3,607 |  |  | 3,527 |  |  | 912 |  |  | 8,047 |  |  |  | 3,440 |  |  | 1,799 |  |  | 316 |  |  | 5,555 |  |  |  | 1,967 |  |  | 342 |  |  | 30 |  |  | 2,339 |
Community WiFi |  | 395 |  |  | 996 |  |  | 688 |  |  | 2,078 |  |  |  | 179 |  |  | 44 |  |  | 257 |  |  | 480 |  |  |  | 657 |  |  | 273 |  |  | 13 |  |  | 943 |
Other |  | 2,305 |  |  | 404 |  |  | 1,534 |  |  | 4,243 |  |  |  | 954 |  |  | 39 |  |  | 1,537 |  |  | 2,529 |  |  |  | 2,612 |  |  | 35 |  |  | 775 |  |  | 3,422 |
Smart Operations Solutions |  | - |  |  | - |  |  | 11,334 |  |  | 11,334 |  |  |  | - |  |  | - |  |  | 8,433 |  |  | 8,433 |  |  |  | - |  |  | - |  |  | - |  |  | - |
Total Revenue | $ | 137,201 |  | $ | 35,473 |  | $ | 64,164 |  | $ | 236,838 |  |  | $ | 87,372 |  | $ | 32,301 |  | $ | 48,148 |  | $ | 167,821 |  |  | $ | 69,629 |  | $ | 22,732 |  | $ | 18,276 |  | $ | 110,637 |
Summary of Deferred Revenue, by Arrangement, Disclosure | A summary of the change in deferred revenue is as follows.
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |
Deferred revenue balance as of January 1 |  | $ | 139,948 |  |  | $ | 95,597 |
Revenue recognized from balance of deferred revenue at the beginning of the period |  |  | (47,919 | ) |  |  | (25,934 | )
Revenue deferred during the period |  |  | 71,243 |  |  |  | 111,861 |
Revenue recognized from revenue originated and deferred during the period |  |  | (40,112 | ) |  |  | (41,576 | )
Deferred revenue balance as of December 31 |  | $ | 123,160 |  |  | $ | 139,948 |

X
- Definition Tabular disclosure of the type of arrangements and the corresponding amounts that comprise the current and noncurrent balance of deferred revenue as of the balance sheet date. + References No definition available. + Details
Name: | us-gaap_DeferredRevenueByArrangementDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration