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Revenue and Deferred Revenue (Tables)

3 Months Ended

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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- 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

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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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