$SMRT
SmartRent, Inc.

2021 Q4 Form 10-Q Financial Statement

#000156459021056235 Filed on November 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $34.67M $35.13M
YoY Change 111.79%
Cost Of Revenue $37.82M $41.92M
YoY Change 152.21%
Gross Profit -$3.154M -$6.788M
YoY Change 20469.7%
Gross Profit Margin -9.1% -19.32%
Selling, General & Admin $15.24M $12.86M
YoY Change 136.71%
% of Gross Profit
Research & Development $7.515M $6.881M
YoY Change 160.94%
% of Gross Profit
Depreciation & Amortization $160.0K $303.0K
YoY Change
% of Gross Profit
Operating Expenses $22.75M $19.74M
YoY Change 144.63%
Operating Profit -$25.91M -$26.53M
YoY Change 227.41%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$64.00K -$58.00K
YoY Change -86.09%
Pretax Income -$25.97M -$26.64M
YoY Change 208.04%
Income Tax -$15.00K $43.00K
% Of Pretax Income
Net Earnings -$25.96M -$26.69M
YoY Change 206.83%
Net Earnings / Revenue -74.88% -75.96%
Basic Earnings Per Share -$0.31
Diluted Earnings Per Share -$134.3K -$312.9K
COMMON SHARES
Basic Shares Outstanding 193.9M 85.27K
Diluted Shares Outstanding 85.27K

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $430.8M $472.5M
YoY Change
Cash & Equivalents $430.8M $472.5M $38.62M
Short-Term Investments
Other Short-Term Assets $2.285M $5.010M $564.0K
YoY Change 305.14% -97.59%
Inventory $33.21M $22.42M $17.63M
Prepaid Expenses $15.08M $17.92M $3.276M
Receivables $45.49M $32.94M $20.79M
Other Receivables $0.00 $0.00
Total Short-Term Assets $536.0M $557.4M $87.66M
YoY Change 511.5% -74.48%
LONG-TERM ASSETS
Property, Plant & Equipment $1.874M $1.690M $847.0K
YoY Change 121.25% -99.82%
Goodwill $12.67M $0.00 $4.162M
YoY Change 204.32%
Intangibles $3.590M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.212M $3.343M $1.113M
YoY Change 547.98% -95.71%
Total Long-Term Assets $43.68M $25.48M $16.19M
YoY Change 169.7% -96.73%
TOTAL ASSETS
Total Short-Term Assets $536.0M $557.4M $87.66M
Total Long-Term Assets $43.68M $25.48M $16.19M
Total Assets $579.7M $582.8M $103.8M
YoY Change 458.2% -87.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.149M $8.032M $2.275M
YoY Change 170.29% -98.2%
Accrued Expenses $4.559M $2.417M $764.0K
YoY Change 496.73% -99.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.652M
YoY Change
Total Short-Term Liabilities $70.57M $61.57M $32.83M
YoY Change 114.96% -88.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.930M
YoY Change
Other Long-Term Liabilities $6.201M $144.0K $516.0K
YoY Change 1101.74% -99.85%
Total Long-Term Liabilities $6.201M $144.0K $516.0K
YoY Change 1101.74% -99.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.57M $61.57M $32.83M
Total Long-Term Liabilities $6.201M $144.0K $516.0K
Total Liabilities $130.2M $110.4M $70.67M
YoY Change 84.22% -91.25%
SHAREHOLDERS EQUITY
Retained Earnings -$154.6M -$128.6M -$82.64M
YoY Change 87.08%
Common Stock $19.00K $19.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $449.5M $472.4M -$78.25M
YoY Change
Total Liabilities & Shareholders Equity $579.7M $582.8M $103.8M
YoY Change 458.2% -87.63%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income -$25.96M -$26.69M
YoY Change 206.83%
Depreciation, Depletion And Amortization $160.0K $303.0K
YoY Change
Cash From Operating Activities -$28.63M -$39.54M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$620.0K -$851.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$5.902M $343.0M
YoY Change
Cash From Investing Activities -$6.522M $342.1M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $155.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.605M 130.7M
YoY Change
NET CHANGE
Cash From Operating Activities -28.63M -39.54M
Cash From Investing Activities -6.522M 342.1M
Cash From Financing Activities -4.605M 130.7M
Net Change In Cash -39.76M 433.3M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$28.63M -$39.54M
Capital Expenditures -$620.0K -$851.0K
Free Cash Flow -$28.01M -$38.69M
YoY Change

Facts In Submission

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StockholdersEquity
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ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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AmortizationOfFinancingCosts
12000
us-gaap Amortization Of Financing Costs
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NonEmployeeWarrantExpense
647000
smrt Non Employee Warrant Expense
NonEmployeeWarrantExpense
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ProvisionForWarrantyExpense
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ProvisionForWarrantyExpense
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ProvisionForLoanAndLeaseLosses
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StockBasedCompensationRelatedToAcquisition
607000
smrt Stock Based Compensation Related To Acquisition
StockBasedCompensationRelatedToAcquisition
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NonCashCompensationExpenseRelatedToAcquisition
3353000
us-gaap Share Based Compensation
ShareBasedCompensation
4555000
us-gaap Share Based Compensation
ShareBasedCompensation
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NonCashInterestExpense
100000
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ProvisionForExcessAndObsoleteInventory
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12260000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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IncreaseDecreaseInInventories
5010000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7380000
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IncreaseDecreaseInDeferredCharges
5995000
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IncreaseDecreaseInDeferredCharges
6673000
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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IncreaseDecreaseInAccountsPayable
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IncreaseDecreaseInOtherAccruedLiabilities
134000
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IncreaseDecreaseInDeferredLiabilities
30170000
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IncreaseDecreaseInDeferredLiabilities
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IncreaseDecreaseInOperatingLeaseLiability
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
851000
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PaymentsToAcquireLoansReceivable
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NetCashProvidedByUsedInInvestingActivities
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RepaymentsOfLinesOfCredit
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PaymentsOnNotePayableRelatedToAcquisition
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ProceedsFromWarrantExercises
5000
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ProceedsFromConvertibleDebt
50000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
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PaymentsForRepurchaseOfConvertiblePreferredStock
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us-gaap Payments For Repurchase Of Convertible Preferred Stock
PaymentsForRepurchaseOfConvertiblePreferredStock
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ProceedsFromBusinessCombinationAndPrivateOffering
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PaymentsOfBusinessCombinationAndPrivateOfferingTransactionCosts
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NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-51000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3557000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38618000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21424000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
472502000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Interest Paid Net
InterestPaidNet
197000
us-gaap Interest Paid Net
InterestPaidNet
281000
us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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AccruedPropertyAndEquipmentAtPeriodEnd
297000
smrt Accrued Property And Equipment At Period End
AccruedPropertyAndEquipmentAtPeriodEnd
6000
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ConversionOfConvertibleDebtToPreferredStock
7787000
us-gaap Stock Issued1
StockIssued1
813000
CY2020Q4 smrt Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1
CY2021Q3 smrt Number Of Capital Stock Shares Authorized
NumberOfCapitalStockSharesAuthorized
550000000
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q3 smrt Direct And Incremental Costs Incurred
DirectAndIncrementalCostsIncurred
55859000
smrt Proceeds From Combination Of Business And Pipe Investment
ProceedsFromCombinationOfBusinessAndPIPEInvestment
500628000
smrt Offering Costs Offset Amount
OfferingCostsOffsetAmount
55859000
smrt Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
345628000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
155000000
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GrossProceedsFromReverseRecapitalizationTransaction
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PaymentsOfReverseRecapitalizationTransactionCosts
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smrt Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
444984000
smrt Reverse Recapitalization Transaction Costs And Advisory Fees Accrued
ReverseRecapitalizationTransactionCostsAndAdvisoryFeesAccrued
215000
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ReverseRecapitalizationNet
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ProceedsFromFeesReceived
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ProceedsFromIssuanceOfCommonStock
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us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10%;text-indent:0%;font-style:italic;font-size:9pt;font-family:Arial;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:10%;text-indent:0%;font-family:Times New Roman;font-size:9pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:10%;text-indent:0%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. 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 the determination of allowance balances for the Company’s inventories on hand, allowance for doubtful accounts, warranty liabilities and certain assumptions used in the valuation of equity awards, including the estimated fair value of convertible preferred stock, 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.</p>
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Goodwill
Goodwill
0
CY2021Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
0
CY2021Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
253000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
131000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
smrt Percentage Of Concentration Risk
PercentageOfConcentrationRisk
0.10
CY2020 smrt Percentage Of Concentration Risk
PercentageOfConcentrationRisk
0.10
smrt Percentage Of Ownership Interest Held By Limited Partners In The Investment Fund Of An Investor
PercentageOfOwnershipInterestHeldByLimitedPartnersInTheInvestmentFundOfAnInvestor
0.23
CY2020 smrt Percentage Of Ownership Interest Held By Limited Partners In The Investment Fund Of An Investor
PercentageOfOwnershipInterestHeldByLimitedPartnersInTheInvestmentFundOfAnInvestor
0.32
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ProductWarrantyAccrual
5913000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3336000
CY2021Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
5700000
CY2021Q3 smrt Product Warranty Accrual Related To Cost Replacement For Identified Deficiency
ProductWarrantyAccrualRelatedToCostReplacementForIdentifiedDeficiency
5589000
CY2020Q4 smrt Product Warranty Accrual Related To Cost Replacement For Identified Deficiency
ProductWarrantyAccrualRelatedToCostReplacementForIdentifiedDeficiency
3166000
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
CY2021Q3 smrt Temporary Equity Shares Outstanding Before Exchange Ratio
TemporaryEquitySharesOutstandingBeforeExchangeRatio
24816000
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2020Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
12904000
CY2021Q1 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
3922000
CY2020Q1 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
2851000
CY2021Q3 us-gaap Advertising Expense
AdvertisingExpense
235000
CY2020Q3 us-gaap Advertising Expense
AdvertisingExpense
164000
us-gaap Advertising Expense
AdvertisingExpense
635000
us-gaap Advertising Expense
AdvertisingExpense
528000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
smrt Effective Interest Rate Percentage Of Input Used To Develop Fair Value Measurements
EffectiveInterestRatePercentageOfInputUsedToDevelopFairValueMeasurements
0.05
CY2020 smrt Effective Interest Rate Percentage Of Input Used To Develop Fair Value Measurements
EffectiveInterestRatePercentageOfInputUsedToDevelopFairValueMeasurements
0.05
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35132000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35132000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16588000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75969000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38933000
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
53501000
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
19083000
CY2021Q1 us-gaap Deferred Revenue Revenue Recognized1
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CY2020Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1349000
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DeferredRevenueAdditions
18420000
CY2021Q1 us-gaap Deferred Revenue
DeferredRevenue
64007000
CY2020Q1 us-gaap Deferred Revenue
DeferredRevenue
27787000
CY2021Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3270000
CY2020Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1483000
CY2021Q2 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
17346000
CY2020Q2 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
6469000
CY2021Q2 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
3578000
CY2020Q2 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
860000
CY2021Q2 us-gaap Deferred Revenue
DeferredRevenue
74505000
CY2020Q2 us-gaap Deferred Revenue
DeferredRevenue
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CY2020Q3 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1217000
CY2021Q3 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
19001000
CY2020Q3 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
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RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
2640000
CY2020Q3 smrt Revenue Recognized From Revenue Originated And Deferred Revenue
RevenueRecognizedFromRevenueOriginatedAndDeferredRevenue
776000
CY2021Q3 us-gaap Deferred Revenue
DeferredRevenue
84681000
CY2020Q3 us-gaap Deferred Revenue
DeferredRevenue
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RevenueRemainingPerformanceObligationPercentage
0.45
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.31
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
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CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2021Q3 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
564000
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
22932000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3840000
CY2021Q3 smrt Loan Receivable
LoanReceivable
2000000
CY2021Q3 smrt Repayments Of Loan Receivable
RepaymentsOfLoanReceivable
0
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2342000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1204000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
652000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
357000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1690000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
847000
CY2021Q3 smrt Temporary Equity Shares Issued Before Exchange Ratio
TemporaryEquitySharesIssuedBeforeExchangeRatio
24816000
CY2021Q3 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
146076000
CY2021Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
997000
CY2020Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1282000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
505000
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
145000
CY2021Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5913000
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3336000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3860000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3234000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2417000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
764000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
485000
CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
282000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
454000
CY2021Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
13974000
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
9555000
CY2019Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
15000000
us-gaap Line Of Credit Facility Frequency Of Payment And Payment Terms
LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms
The Revolving Facility terminates on the Revolving Facility maturity date, when the principal amount of all advances, the unpaid interest thereon, and all other obligations relating to the Revolving Facility shall be immediately due and payable. The Term Loan Facility was subject to monthly payments of interest, in arrears, accrued on the principal balance of the Term Loan Facility through November 2020. Thereafter, and continuing through the Term Loan Facility maturity date, the Term Loan Facility is subject to equal monthly payments of principal plus accrued interest.
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
147911000
CY2021Q3 smrt Prime Rate
PrimeRate
0.0325
CY2020Q4 smrt Prime Rate
PrimeRate
0.0325
us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
The Credit 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 our subsidiaries, and (v) incur additional indebtedness that is secured on a pari passu basis with the Credit Facility
CY2021Q3 smrt Temporary Equity Shares Authorized Before Exchange Ratio
TemporaryEquitySharesAuthorizedBeforeExchangeRatio
24816000
CY2021Q3 smrt Temporary Equity Shares Authorized Before Exchange Ratio
TemporaryEquitySharesAuthorizedBeforeExchangeRatio
24816000
us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2021Q3 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
146076000
CY2020Q4 smrt Temporary Equity Shares Authorized Before Exchange Ratio
TemporaryEquitySharesAuthorizedBeforeExchangeRatio
21698000
CY2020Q4 smrt Temporary Equity Shares Authorized Before Exchange Ratio
TemporaryEquitySharesAuthorizedBeforeExchangeRatio
21698000
CY2020Q4 smrt Temporary Equity Shares Outstanding Before Exchange Ratio
TemporaryEquitySharesOutstandingBeforeExchangeRatio
21458000
CY2020Q4 smrt Temporary Equity Shares Issued Before Exchange Ratio
TemporaryEquitySharesIssuedBeforeExchangeRatio
21458000
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
111108000
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
111108000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
34793000
CY2020 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
57439000
CY2020 smrt Number Of Subordinated Convertible Notes Redeemed
NumberOfSubordinatedConvertibleNotesRedeemed
2
CY2021Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
4865000
CY2021Q3 smrt Warrant Expenses Recognized
WarrantExpensesRecognized
0
smrt Warrant Expenses Recognized
WarrantExpensesRecognized
0
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4307000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
441000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5162000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1343000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0028
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0065
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
30612000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33344000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
120123000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33344000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
120123000
CY2020 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
12601000
CY2021Q3 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
997000
CY2020Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
1282000
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
22856000

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