$SMRT
SmartRent Inc

2024 Q3 Form 10-Q Financial Statement

#000095017024092293 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $48.52M
YoY Change -9.15%
Cost Of Revenue $31.21M
YoY Change -28.28%
Gross Profit $17.31M
YoY Change 75.1%
Gross Profit Margin 35.67%
Selling, General & Admin $16.74M
YoY Change 8.46%
% of Gross Profit 96.73%
Research & Development $7.484M
YoY Change 14.5%
% of Gross Profit 43.25%
Depreciation & Amortization $1.585M
YoY Change 17.41%
% of Gross Profit 9.16%
Operating Expenses $24.22M
YoY Change 10.25%
Operating Profit -$6.918M
YoY Change -42.76%
Interest Expense $2.290M
YoY Change 25.82%
% of Operating Profit
Other Income/Expense, Net $91.00K
YoY Change -254.24%
Pretax Income -$4.537M
YoY Change -56.08%
Income Tax $68.00K
% Of Pretax Income
Net Earnings -$4.605M
YoY Change -55.5%
Net Earnings / Revenue -9.49%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 202.4M 201.8M
Diluted Shares Outstanding 202.0M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.4M
YoY Change -4.86%
Cash & Equivalents $187.4M
Short-Term Investments
Other Short-Term Assets $8.005M
YoY Change -15.32%
Inventory $34.42M
Prepaid Expenses $7.174M
Receivables $65.22M
Other Receivables $0.00
Total Short-Term Assets $313.8M
YoY Change -9.35%
LONG-TERM ASSETS
Property, Plant & Equipment $1.319M
YoY Change -23.54%
Goodwill $117.3M
YoY Change 0.0%
Intangibles $25.31M
YoY Change -13.27%
Long-Term Investments
YoY Change
Other Assets $11.06M
YoY Change 6.86%
Total Long-Term Assets $161.5M
YoY Change -7.85%
TOTAL ASSETS
Total Short-Term Assets $313.8M
Total Long-Term Assets $161.5M
Total Assets $475.3M
YoY Change -8.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.449M
YoY Change 2.3%
Accrued Expenses $6.971M
YoY Change 16.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $100.3M
YoY Change -16.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $961.0K
YoY Change -74.26%
Total Long-Term Liabilities $961.0K
YoY Change -74.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.3M
Total Long-Term Liabilities $961.0K
Total Liabilities $146.0M
YoY Change -16.25%
SHAREHOLDERS EQUITY
Retained Earnings -$304.2M
YoY Change 10.83%
Common Stock $20.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $329.4M
YoY Change
Total Liabilities & Shareholders Equity $475.3M
YoY Change -8.85%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$4.605M
YoY Change -55.5%
Depreciation, Depletion And Amortization $1.585M
YoY Change 17.41%
Cash From Operating Activities -$13.88M
YoY Change 226.52%
INVESTING ACTIVITIES
Capital Expenditures $1.041M
YoY Change -54.74%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.041M
YoY Change -54.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.377M
YoY Change 452.79%
NET CHANGE
Cash From Operating Activities -13.88M
Cash From Investing Activities -1.041M
Cash From Financing Activities -2.377M
Net Change In Cash -17.29M
YoY Change 147.78%
FREE CASH FLOW
Cash From Operating Activities -$13.88M
Capital Expenditures $1.041M
Free Cash Flow -$14.92M
YoY Change 127.76%

Facts In Submission

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ChangeInFairValueOfEarnoutRelatedToAcquisition
306000
smrt Non Cash Interest Expense
NonCashInterestExpense
72000
smrt Non Cash Interest Expense
NonCashInterestExpense
65000
smrt Provision For Excess And Obsolete Inventory
ProvisionForExcessAndObsoleteInventory
120000
smrt Provision For Excess And Obsolete Inventory
ProvisionForExcessAndObsoleteInventory
47000
us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
1360000
us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
-1000
us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
4955000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4712000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2416000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2059000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-15188000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-5155000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-7285000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1839000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6311000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8663000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-12059000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-3339000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-13201000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-11208000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
2878000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-813000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-466000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17214000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15684000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
275000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49000
smrt Payments To Capitalized Software Costs
PaymentsToCapitalizedSoftwareCosts
1722000
smrt Payments To Capitalized Software Costs
PaymentsToCapitalizedSoftwareCosts
2279000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1997000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2328000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6381000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
71000
smrt Proceeds From Espp Purchases
ProceedsFromEsppPurchases
337000
smrt Proceeds From Espp Purchases
ProceedsFromEsppPurchases
438000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1267000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1085000
smrt Fair Value Of Earnout Payment
FairValueOfEarnoutPayment
1530000
smrt Fair Value Of Earnout Payment
FairValueOfEarnoutPayment
1702000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8839000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2278000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-28027000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20249000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
215709000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
217713000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
187682000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
197464000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
187435000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
196970000
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
247000
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
247000
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
247000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
187682000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
197464000
us-gaap Interest Paid Net
InterestPaidNet
131000
us-gaap Interest Paid Net
InterestPaidNet
56000
us-gaap Income Taxes Paid
IncomeTaxesPaid
165000
us-gaap Income Taxes Paid
IncomeTaxesPaid
71000
smrt Accrued Property And Equipment At Period End
AccruedPropertyAndEquipmentAtPeriodEnd
55000
smrt Stock Repurchases Excise Tax Charged To Equity
StockRepurchasesExciseTaxChargedToEquity
19000
smrt Other Receivable For Options Exercised At Period End
OtherReceivableForOptionsExercisedAtPeriodEnd
94000
CY2020Q4 smrt Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:10%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:10pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:10%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:10pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expense during the reporting period. These estimates made by management include valuing the Company’s inventories on hand, allowance for expected credit losses, intangible assets, earnout liabilities, warranty liabilities, stand-alone selling price of items sold, and certain assumptions used in the valuation of equity awards, including the estimated fair value of common stock warrants, and assumptions used to estimate the fair value of stock-based compensation expense. Actual results could differ materially from those estimates.</span></p>
CY2024Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
2721000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
1361000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
smrt Percentage Of Concentration Risk
PercentageOfConcentrationRisk
0.10
CY2023 smrt Percentage Of Concentration Risk
PercentageOfConcentrationRisk
0.10
CY2024Q2 smrt Buy Back Provision
BuyBackProvision
2267000
CY2023Q4 smrt Buy Back Provision
BuyBackProvision
851000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
smrt Schedule Of Finite Lived Intangible Asset Useful Life
ScheduleOfFiniteLivedIntangibleAssetUsefulLife
<span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">Intangible assets are amortized on a straight-line basis based on their estimated useful lives. The estimated useful life of these intangible assets are as follows.</span> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:90.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:58.28%;"></td> <td style="width:3.04%;"></td> <td style="width:35.64%;"></td> <td style="width:3.04%;"></td> </tr> <tr style="height:9pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">Estimated useful life (in years)</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Trade name</span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="font-size:9pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">5</span></span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Customer relationships</span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="font-size:9pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">10 </span></span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">- </span><span style="font-size:9pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">13</span></span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Developed technology</span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="font-size:9pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">1</span></span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;"> - </span><span style="font-size:9pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">7</span></span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> </table>
smrt Warranty Period On Hardware Devices
WarrantyPeriodOnHardwareDevices
P1Y
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1421000
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2215000
CY2024Q2 smrt Product Warranty Accrual Related To Cost Replacement For Identified Deficiency
ProductWarrantyAccrualRelatedToCostReplacementForIdentifiedDeficiency
864000
CY2023Q4 smrt Product Warranty Accrual Related To Cost Replacement For Identified Deficiency
ProductWarrantyAccrualRelatedToCostReplacementForIdentifiedDeficiency
864000
CY2023 smrt Product Warranty Accrual Related To Cost Perform Firmware And Hardware
ProductWarrantyAccrualRelatedToCostPerformFirmwareAndHardware
410000
smrt Product Warranty Accrual Related To Cost Perform Firmware And Hardware
ProductWarrantyAccrualRelatedToCostPerformFirmwareAndHardware
0
smrt Number Of Days Due For Payments Of Credit Card Check Or Automated Clearing House
NumberOfDaysDueForPaymentsOfCreditCardCheckOrAutomatedClearingHouse
P30D
smrt Estimated Average In Service Life Of Hub Device
EstimatedAverageInServiceLifeOfHubDevice
P4Y
CY2024Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
9719000
CY2024Q2 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
8059000
CY2023Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
7064000
CY2023Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
6163000
CY2024Q2 us-gaap Advertising Expense
AdvertisingExpense
149000
CY2023Q2 us-gaap Advertising Expense
AdvertisingExpense
115000
us-gaap Advertising Expense
AdvertisingExpense
232000
us-gaap Advertising Expense
AdvertisingExpense
267000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
smrt Schedule Of Changes In Fair Value Of Liabilities
ScheduleOfChangesInFairValueOfLiabilities
<span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">The changes in the fair value of the Company's Level 3 liabilities for the </span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">six months ended June 30, 2024 and year ended December 31, 2023 are as follows.</span> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:90.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:44.451%;"></td> <td style="width:1.28%;"></td> <td style="width:14.077%;"></td> <td style="width:1.5%;"></td> <td style="width:1%;"></td> <td style="width:15.477%;"></td> <td style="width:1%;"></td> <td style="width:1.28%;"></td> <td style="width:1%;"></td> <td style="width:17.936%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:9pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="6" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">As of</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">June 30, 2024</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">December 31, 2023</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Balance at beginning of period</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">4,250</span></p></td> <td style="white-space:nowrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">5,540</span></p></td> <td style="white-space:nowrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Payment of earnout in connection with the iQuue acquisition</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:middle;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:middle;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">(</span><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,530</span></p></td> <td style="white-space:nowrap;vertical-align:middle;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">)</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:middle;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:middle;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">(</span><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,702</span></p></td> <td style="white-space:nowrap;vertical-align:middle;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">)</span></p></td> </tr> <tr style="height:9pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Change in fair value of earnout</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid #000000;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">140</span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid #000000;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">412</span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:9pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Balance at end of period</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:2.25pt double #000000;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">2,860</span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:2.25pt double #ffffff03;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:2.25pt double #000000;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:top;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:9pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">4,250</span></p></td> <td style="white-space:nowrap;vertical-align:top;border-bottom:2.25pt double #ffffff03;"><p style="font-size:9pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> </table>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48518000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53402000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
99007000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118481000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48518000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53402000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
99007000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118481000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48518000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53402000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
99007000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118481000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
123159000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
139948000
CY2024Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
8656000
CY2023Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
14505000
CY2024Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
7075000
CY2023Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
19593000
CY2024Q1 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
2010000
CY2023Q1 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
2067000
CY2024Q1 us-gaap Deferred Revenue
DeferredRevenue
119568000
CY2023Q1 us-gaap Deferred Revenue
DeferredRevenue
142969000
CY2024Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
8914000
CY2023Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
11896000
CY2024Q2 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
4244000
CY2023Q2 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
16954000
CY2024Q2 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
3040000
CY2023Q2 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
5191000
CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
111858000
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
142836000
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.61
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.19
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.18
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
30635000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
39725000
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
34030000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
41206000
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
390000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
369000
CY2024Q2 us-gaap Inventory Net
InventoryNet
34420000
CY2023Q4 us-gaap Inventory Net
InventoryNet
41575000
CY2024Q2 us-gaap Inventory Write Down
InventoryWriteDown
75000
CY2023Q2 us-gaap Inventory Write Down
InventoryWriteDown
207000
us-gaap Inventory Write Down
InventoryWriteDown
171000
us-gaap Inventory Write Down
InventoryWriteDown
273000
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7174000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7144000
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
8005000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2215000
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15179000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9359000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4149000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3853000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2830000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2453000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1319000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1400000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Reclassifications From Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationReclassificationsFromPropertyPlantAndEquipment1
195000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Reclassifications From Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationReclassificationsFromPropertyPlantAndEquipment1
197000
us-gaap Accumulated Depreciation Depletion And Amortization Reclassifications From Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationReclassificationsFromPropertyPlantAndEquipment1
377000
us-gaap Accumulated Depreciation Depletion And Amortization Reclassifications From Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationReclassificationsFromPropertyPlantAndEquipment1
400000
CY2024Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
34490000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9178000
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
25312000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
34490000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7241000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27249000
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
968000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
969000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1937000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1938000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1937000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3873000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3873000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3734000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3693000
CY2024Q2 smrt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
8202000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
25312000
CY2024Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
6534000
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
5632000
CY2023Q4 us-gaap Investments
Investments
2250000
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1819000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2550000
CY2024Q2 smrt Other Long Term Assets
OtherLongTermAssets
2704000
CY2023Q4 smrt Other Long Term Assets
OtherLongTermAssets
1816000
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
11057000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12248000
CY2023Q4 us-gaap Investments
Investments
2250000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6971000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6674000
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6141000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10272000
CY2024Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1421000
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2215000
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
12163000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
5815000
CY2024Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
26696000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
24976000
us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
The Senior Revolving Facility contains certain customary affirmative and negative covenants and events of default. Such covenants will, among other things, restrict, subject to certain exceptions, the Company’s ability to (i) engage in certain mergers or consolidations, (ii) sell, lease or transfer all or substantially all of the Company’s assets, (iii) engage in certain transactions with affiliates, (iv) make changes in the nature of the Company’s business and its subsidiaries, and (v) incur additional indebtedness that is secured on a pari passu basis with the Senior Revolving Facility.
CY2023Q4 smrt Number Of Warrants To Vest
NumberOfWarrantsToVest
0
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2527000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3070000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0409
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0355
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.75
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y29D
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3284000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3276000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6565000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6956000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.015
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0017
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0093
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0005
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15620000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21023000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15620000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21023000
CY2024Q2 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
4955000
CY2024Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
5300000
CY2024Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
5000000
CY2024Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
5000000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 smrt Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q2 smrt Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-092293.txt Edgar Link pending
0000950170-24-092293-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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smrt-20240630_htm.xml Edgar Link completed