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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.

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- 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

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