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SmartRent Exhibit 99.1 SmartRent Reports Third Quarter 2021 Financial Results Revenue Increased 112 % as the Company added a record 59,000 Deployed Units Committed Units Increased to over 704,000 SCOTTSDALE , AZ . , November 10 , 2021 -- SmartRent , Inc. ( " SmartRent " or the “ Company ” ) , a leading provider of smart home and smart building automation for property owners , managers , developers , homebuilders , and residents , today reported financial results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights Record revenue of $ 35.1 million , a year - over - year increase of 112 % Deployed 59,347 units , an increase of 111 % as compared to the prior year period New Units Booked grew to 49,706 , up 134 % year - over - year • Grew Committed Units to over 704,000 • Total Aggregate Deployed and Committed Units increased to 975,000 • • • Increased SaaS ARR 158 % to $ 8.7 million as compared to the prior year period Grew Hosted Services ARPU 8 % to $ 6.81 as compared to the prior year period Grew deferred revenue by 100 % year - over - year to $ 84.7 million Adjusted EBITDA of $ ( 16.1 ) million as compared to $ ( 6.8 ) million in the year ago period Net loss per share of $ ( 0.31 ) as compared to a net loss per share of $ ( 1.07 ) for third quarter 2020 Completed transaction with Fifth Wall Acquisition Corp. I and commenced trading on the New York Stock Exchange Cash balance of $ 472.5 million compared to $ 38.6 million as of December 31 , 2020 Affirms 161,000 Units Deployed for 2021 , reduces expectation for Revenue to a range of $ 100 to $ 105 million based on supply chain restraints with respect to the Fusion Hub and Alloy Access Lucas Haldeman , CEO of SmartRent , commented , " We had an outstanding quarter achieving numerous revenue and operational milestones driven by growing customer demand and accelerated execution by our field installation teams . Our aggregate committed and deployed units reached 975,000 at the end of the quarter , a sizable and growing base that will drive future revenue streams over the next 24 months . Our customer base is now approaching 200 property owners or managers , who collectively control approximately 4.1 million units and represent a significant recurring SaaS revenue opportunity for SmartRent . The strength of our current pipeline underscores the importance of having expertise in both smart home retrofits as well as new build installation . Despite a competitive labor market and a challenging supply chain , we are excited about the progress we continue to make in scaling our team and procuring product to support our growing demand . ” Mr. Haldeman concluded , “ Having recently completed our business combination with Fifth Wall Acquisition Corp. I , we have the necessary capital to grow both organically and through selective acquisitions . We are excited about SmartRent's future , our capabilities in both retrofit and new development , and our first mover advantage . We remain uniquely positioned to further advance our stature as a market leader in the multibillion - dollar smart building industry and generate long - term shareholder value . ” Third Quarter Results Total revenue increased 112 % to $ 35.1 million in the third quarter of 2021 , from $ 16.6 million in the third quarter of 2020. The year - over- year revenue increase was driven largely by strong demand for the Company's comprehensive smart home solutions as evidenced by increased subscriptions for the Company's software service applications and reflects the growth in the Company's Total Units Deployed to 270,772 .