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Revenue and Deferred Revenue (Tables) | 3 Months Ended
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Mar. 31, 2024
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 three months ended March 31, |
|  | 2024 |  |  | 2023 |
Revenue by geography |  |  |  |  |  |
United States |  | $ | 50,301 |  |  | $ | 64,933 |
International |  |  | 188 |  |  |  | 146 |
Total revenue |  | $ | 50,489 |  |  | $ | 65,079 |
|  | For the three months ended March 31, |
|  | 2024 |  |  | 2023 |
Revenue by type |  |  |  |  |  |
Hardware |  | $ | 29,077 |  |  | $ | 37,325 |
Professional services |  |  | 3,458 |  |  |  | 12,769 |
Hosted services |  |  | 17,954 |  |  |  | 14,985 |
Total revenue |  | $ | 50,489 |  |  | $ | 65,079 |
| For the three months ended March 31, |
| 2024 |  |  | 2023 |
| (dollars in thousands) |
SmartRent Solutions | Hardware |  | Professional Services |  | Hosted Services |  | Total 2024 |  |  | Hardware |  | Professional Services |  | Hosted Services |  | Total 2023 |
Smart Communities Solutions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Smart Apartments | $ | 27,429 |  | $ | 2,713 |  | $ | 14,072 |  | $ | 44,214 |  |  | $ | 36,392 |  | $ | 11,691 |  | $ | 11,570 |  | $ | 59,653 |
Access Control |  | 1,015 |  |  | 561 |  |  | 349 |  |  | 1,925 |  |  |  | 778 |  |  | 1,051 |  |  | 153 |  |  | 1,982 |
Community WiFi |  | 137 |  |  | 16 |  |  | 180 |  |  | 333 |  |  |  | 5 |  |  | - |  |  | 156 |  |  | 161 |
Other |  | 496 |  |  | 168 |  |  | 492 |  |  | 1,156 |  |  |  | 150 |  |  | 27 |  |  | 372 |  |  | 549 |
Smart Operations Solutions |  | - |  |  | - |  |  | 2,861 |  |  | 2,861 |  |  |  | - |  |  | - |  |  | 2,734 |  |  | 2,734 |
Total Revenue | $ | 29,077 |  | $ | 3,458 |  | $ | 17,954 |  | $ | 50,489 |  |  | $ | 37,325 |  | $ | 12,769 |  | $ | 14,985 |  | $ | 65,079 |
Summary of Deferred Revenue, by Arrangement, Disclosure | A summary of the change in deferred revenue is as follows.
|  | For the three months ended March 31, |
|  | 2024 |  |  | 2023 |
Deferred revenue balance as of January 1 |  | $ | 123,159 |  |  | $ | 139,948 |
Revenue recognized from balance of deferred revenue at the beginning of the period |  |  | (8,656 | ) |  |  | (14,505 | )
Revenue deferred during the period |  |  | 7,075 |  |  |  | 19,593 |
Revenue recognized from revenue originated and deferred during the period |  |  | (2,010 | ) |  |  | (2,067 | )
Deferred revenue balance as of March 31 |  |  | 119,568 |  |  |  | 142,969 |

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