SmartRent (SMRT) 10-Q 10 Nov 21 2021 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2021	Nov. 08, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity File Number	001-39991
Entity Registrant Name	SMARTRENT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4218526
Entity Address, Address Line One	8665 E. Hartford Drive
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85255
City Area Code	844
Local Phone Number	479-1555
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	SMRT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		193,864,107
Entity Central Index Key	0001837014
Current Fiscal Year End Date	--12-31

UNAUDITED CONDENSED BALANCE SHE

UNAUDITED CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 472,502,000	$ 38,618,000
Accounts receivable, net	32,942,000	20,787,000
Inventory	22,415,000	17,628,000
Deferred cost of revenue, current portion	6,566,000	6,782,000
Prepaid expenses and other current assets	22,932,000	3,840,000
Total current assets	557,357,000	87,655,000
Property and equipment, net	1,690,000	847,000
Deferred cost of revenue	16,282,000	10,072,000
Goodwill	4,162,000	4,162,000
Other long-term assets	3,343,000	1,113,000
Total assets	582,834,000	103,849,000
Current liabilities
Accounts payable	8,032,000	2,275,000
Accrued expenses and other current liabilities	13,974,000	9,555,000
Deferred revenue, current portion	37,909,000	19,348,000
Current portion of long-term debt	1,652,000	1,651,000
Total current liabilities	61,567,000	32,829,000
Long-term debt, net	1,930,000	3,169,000
Deferred revenue	46,772,000	34,153,000
Other long-term liabilities	144,000	516,000
Total liabilities	110,413,000	70,667,000
Commitments and contingencies (Note 12)
Convertible preferred stock, $0.0001 par value; 50,000 and 105,995 shares authorized as of September 30, 2021 and December 31, 2020; No shares of preferred stock issued and outstanding as of September 30, 2021; 104,822 shares issued and outstanding as of December 31, 2020.		111,432,000
Stockholders' equity (deficit)
Common stock, $0.0001 par value; 500,000 and 140,595 shares authorized as of September 30, 2021 and December 31, 2020; 193,864 and 10,376 shares issued and outstanding as of September 30, 2021 and December 31, 2020	19,000
Additional paid-in capital	600,946,000	4,157,000
Accumulated deficit	(128,645,000)	(82,642,000)
Accumulated other comprehensive income	101,000	235,000
Total stockholders' equity (deficit)	472,421,000	(78,250,000)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	$ 582,834,000	$ 103,849,000

UNAUDITED CONDENSED BALANCE S_2

UNAUDITED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Convertible preferred stock, par value	$ 0.0001	$ 0.0001
Convertible preferred stock, authorized	50,000,000	105,995,000
Convertible preferred stock, issued	0	104,822,000
Convertible preferred stock, outstanding	0	104,822,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	500,000,000	140,595,000
Common stock, issued	193,864,000	10,376,000
Common stock outstanding	193,864,000	10,376,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Total revenue	$ 35,132	$ 16,588	$ 75,969	$ 38,933
Cost of revenue
Total cost of revenue	41,920	16,621	82,888	40,317
Operating expense
Research and development	6,881	2,637	14,057	6,641
Sales and marketing	4,948	1,328	9,094	4,048
General and administrative	7,910	4,104	15,673	12,759
Total operating expense	19,739	8,069	38,824	23,448
Loss from operations	(26,527)	(8,102)	(45,743)	(24,832)
Interest expense, net	(57)	(130)	(199)	(510)
Other income (expense), net	(58)	(417)	69	(909)
Loss before income taxes	(26,642)	(8,649)	(45,873)	(26,251)
Provision for income taxes	43	48	130	170
Net loss	(26,685)	(8,697)	(46,003)	(26,421)
Other comprehensive loss
Foreign currency translation adjustment	(69)	100	(134)	132
Comprehensive loss	$ (26,754)	$ (8,597)	$ (46,137)	$ (26,289)
Net loss per common share
Basic and diluted	$ (0.31)	$ (1.07)	$ (1.31)	$ (3.68)
Weighted-average number of shares used in computing net loss per share
Basic and diluted	85,273	8,148	35,181	7,188
Hardware
Revenue
Total revenue	$ 22,025	$ 9,782	$ 48,452	$ 23,956
Cost of revenue
Total cost of revenue	24,565	10,428	49,222	24,991
Professional Services
Revenue
Total revenue	8,180	4,717	15,345	9,558
Cost of revenue
Total cost of revenue	14,115	4,842	25,849	11,591
Hosted Services
Revenue
Total revenue	4,927	2,089	12,172	5,419
Cost of revenue
Total cost of revenue	$ 3,240	$ 1,351	$ 7,817	$ 3,735

UNAUDITED CONDENSED STATEMENTS

UNAUDITED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Previously Reported [Member]	Convertible Preferred Stock	Convertible Preferred StockPreviously Reported [Member]	Series C Preferred Stock	Common Stock	Common StockPreviously Reported [Member]	Additional Paid-in Capital	Additional Paid-in CapitalPreviously Reported [Member]	Accumulated Deficit	Accumulated DeficitPreviously Reported [Member]	Accumulated other comprehensive income	Accumulated other comprehensive incomePreviously Reported [Member]
Balance at the beginning at Dec. 31, 2019	$ (44,429)	$ (44,429)						$ 1,104	$ 1,104	$ (45,533)	$ (45,533)
Balance (in Shares) at Dec. 31, 2019			74,159	15,181
Balance at the beginning at Dec. 31, 2019			$ 46,206	$ 46,206
Balance (in Shares) at Dec. 31, 2019						4,865	996
Retroactive application of exchange ratio, Shares at Dec. 31, 2019				58,978			3,869
Stock-based compensation	261							261
Stock-based compensation (in Shares)						4,123
Issuance of Series C Preferred Stock for cash, net of offering costs			$ 44,950
Issuance of Series C Preferred Stock for cash, net of offering costs (in Shares)			21,089
Conversion of Convertible Note to Series C-1 Preferred Stock			$ 7,787
Conversion of Convertible Note to Series C-1 Preferred Stock (in Shares)			3,717
Issuance of common stock in connection with acquisition	813							813
Issuance of common stock in connection with acquisition (in Shares)						1,373
Common stock warrants related to marketing expense	146							146
Net loss	(7,276)									(7,276)
Other comprehensive income (loss)	(14)											$ (14)
Balance at Mar. 31, 2020	(50,499)							2,324		(52,809)		(14)
Balance (in Shares) at Mar. 31, 2020			98,965
Balance at the end at Mar. 31, 2020			$ 98,943
Balance (in Shares) at Mar. 31, 2020						10,361
Balance at the beginning at Dec. 31, 2019	(44,429)	(44,429)						1,104	1,104	(45,533)	(45,533)
Balance (in Shares) at Dec. 31, 2019			74,159	15,181
Balance at the beginning at Dec. 31, 2019			$ 46,206	$ 46,206
Balance (in Shares) at Dec. 31, 2019						4,865	996
Retroactive application of exchange ratio, Shares at Dec. 31, 2019				58,978			3,869
Net loss	(26,421)
Balance at Sep. 30, 2020	(68,221)							3,601		(71,954)		132
Balance (in Shares) at Sep. 30, 2020			104,822
Balance at the end at Sep. 30, 2020			$ 111,432
Balance (in Shares) at Sep. 30, 2020						10,376
Balance at the beginning at Dec. 31, 2019	(44,429)	(44,429)						1,104	1,104	(45,533)	(45,533)
Balance (in Shares) at Dec. 31, 2019			74,159	15,181
Balance at the beginning at Dec. 31, 2019			$ 46,206	$ 46,206
Balance (in Shares) at Dec. 31, 2019						4,865	996
Retroactive application of exchange ratio, Shares at Dec. 31, 2019				58,978			3,869
Balance at Dec. 31, 2020	$ (78,250)	(78,250)						4,157	4,157	(82,642)	(82,642)	235	$ 235
Balance (in Shares) at Dec. 31, 2020	104,822		104,822	21,458
Balance at the end at Dec. 31, 2020	$ 111,432		$ 111,432	$ 111,432
Balance (in Shares) at Dec. 31, 2020						10,376	2,124
Balance at the beginning at Mar. 31, 2020	(50,499)							2,324		(52,809)		(14)
Balance (in Shares) at Mar. 31, 2020			98,965
Balance at the beginning at Mar. 31, 2020			$ 98,943
Balance (in Shares) at Mar. 31, 2020						10,361
Stock-based compensation	641							641
Issuance of Series C Preferred Stock for cash, net of offering costs			$ 12,489
Issuance of Series C Preferred Stock for cash, net of offering costs (in Shares)			5,857
Common stock warrants related to marketing expense	36							36
Exercise of warrants (in Shares)						15
Net loss	(10,448)									(10,448)
Other comprehensive income (loss)	46											46
Balance at Jun. 30, 2020	(60,224)							3,001		(63,257)		32
Balance (in Shares) at Jun. 30, 2020			104,822
Balance at the end at Jun. 30, 2020			$ 111,432
Balance (in Shares) at Jun. 30, 2020						10,376
Stock-based compensation	440							440
Common stock warrants related to marketing expense	160							160
Net loss	(8,697)									(8,697)
Other comprehensive income (loss)	100											100
Balance at Sep. 30, 2020	(68,221)							3,601		(71,954)		132
Balance (in Shares) at Sep. 30, 2020			104,822
Balance at the end at Sep. 30, 2020			$ 111,432
Balance (in Shares) at Sep. 30, 2020						10,376
Balance at the beginning at Dec. 31, 2020	$ (78,250)	(78,250)						4,157	4,157	(82,642)	(82,642)	235	235
Balance (in Shares) at Dec. 31, 2020	104,822		104,822	21,458
Balance at the beginning at Dec. 31, 2020	$ 111,432		$ 111,432	$ 111,432
Balance (in Shares) at Dec. 31, 2020						10,376	2,124
Retroactive application of exchange ratio, Shares at Dec. 31, 2020				83,364			8,252
Stock-based compensation	427							427
Issuance of Series C Convertible Preferred Stock (in Shares)					16,404
Issuance of Series C Convertible Preferred Stock					$ 34,793
Common stock warrants issued to customers as consideration	22							22
Common stock warrants related to marketing expense	210							210
Exercise of warrants	5							5
Exercise of warrants (in Shares)						2,457
Net loss	(9,267)									(9,267)
Other comprehensive income (loss)	(128)											(128)
Balance at Mar. 31, 2021	(86,981)							4,821		(91,909)		107
Balance (in Shares) at Mar. 31, 2021			121,226
Balance at the end at Mar. 31, 2021			$ 146,225
Balance (in Shares) at Mar. 31, 2021						12,833
Balance at the beginning at Dec. 31, 2020	$ (78,250)	$ (78,250)						4,157	$ 4,157	(82,642)	$ (82,642)	235	$ 235
Balance (in Shares) at Dec. 31, 2020	104,822		104,822	21,458
Balance at the beginning at Dec. 31, 2020	$ 111,432		$ 111,432	$ 111,432
Balance (in Shares) at Dec. 31, 2020						10,376	2,124
Retroactive application of exchange ratio, Shares at Dec. 31, 2020				83,364			8,252
Net loss	(46,003)
Balance at Sep. 30, 2021	$ 472,421					$ 19		600,946		(128,645)		101
Balance (in Shares) at Sep. 30, 2021	0
Balance (in Shares) at Sep. 30, 2021						193,864
Balance at the beginning at Mar. 31, 2021	$ (86,981)							4,821		(91,909)		107
Balance (in Shares) at Mar. 31, 2021			121,226
Balance at the beginning at Mar. 31, 2021			$ 146,225
Balance (in Shares) at Mar. 31, 2021						12,833
Stock-based compensation	428							428
Common stock warrants issued to customers as consideration	18							18
Common stock warrants related to marketing expense	149							149
Net loss	(10,051)									(10,051)
Other comprehensive income (loss)	63											63
Balance at Jun. 30, 2021	(96,374)							5,416		(101,960)		170
Balance (in Shares) at Jun. 30, 2021			121,226
Balance at the end at Jun. 30, 2021			$ 146,225
Balance (in Shares) at Jun. 30, 2021						12,833
Conversion of Convertible Preferred Stock to Common Stock	146,225		$ (146,225)			$ 13		146,212
Conversion of Convertible Preferred Stock to Common Stock, shares			(121,226)			121,226
Reverse recapitalization, net of transaction costs	444,769					$ 6		444,763
Reverse recapitalization, net of transaction costs, Shares						59,657
Stock-based compensation	4,307							4,307
Redemption of warrants, Shares						148
Common stock warrants issued to customers as consideration	64							64
Common stock warrants related to marketing expense	184							184
Net loss	(26,685)									(26,685)
Other comprehensive income (loss)	(69)											(69)
Balance at Sep. 30, 2021	$ 472,421					$ 19		$ 600,946		$ (128,645)		$ 101
Balance (in Shares) at Sep. 30, 2021	0
Balance (in Shares) at Sep. 30, 2021						193,864

UNAUDITED CONDENSED STATEMENT O

UNAUDITED CONDENSED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (46,003)	$ (26,421)
Adjustments to reconcile net loss to net cash used by operating activities
Depreciation and amortization	303	217
Amortization of debt discount	12	5
Non-employee warrant expense	647	342
Provision for warranty expense	5,928	146
Loss on extinguishment of debt		164
Non-cash lease expense	327	327
Stock-based compensation related to acquisition	607	502
Non-cash compensation expense related to acquisition		3,353
Stock-based compensation	4,555	840
Non-cash interest expense		100
Provision for excess and obsolete inventory	50
Provision for doubtful accounts	122
Change in operating assets and liabilities
Accounts receivable	(12,260)	(26,840)
Inventory	(5,010)	(7,380)
Deferred cost of revenue	(5,995)	(6,673)
Prepaid expenses and other assets	(18,029)	(5,201)
Accounts payable	5,110	2,981
Accrued expenses and other liabilities	(1,925)	134
Deferred revenue	30,170	21,800
Lease liabilities	(354)	(707)
Net cash used in operating activities	(41,745)	(42,311)
CASH FLOWS FROM INVESTING ACTIVITIES
Zenith acquisition, net of cash acquired		(2,382)
Purchase of property and equipment	(851)	(274)
Payment for loan receivable	(2,000)
Net cash used in investing activities	(2,851)	(2,656)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving line of credit		7,179
Payments on revolving line of credit		(11,981)
Payments on term loan	(1,251)
Payments on note payable related to acquisition		(4,327)
Proceeds from warrant exercise	5
Proceeds from convertible notes		50
Convertible preferred stock issued	35,000	57,500
Payments of convertible preferred stock transaction costs	(207)	(61)
Proceeds from business combination and private offering	500,628
Payments of business combination and private offering transaction costs	(55,644)
Net cash provided by financing activities	478,531	48,360
Effect of exchange rate changes on cash and cash equivalents	(51)	164
Net increase in cash and cash equivalents	433,884	3,557
Cash and cash equivalents - beginning of period	38,618	21,424
Cash and cash equivalents - end of period	472,502	24,981
Supplemental disclosure of cash flow information
Interest paid	197	281
Cash paid for income taxes	90	44
Schedule of non-cash investing and financing activities
Accrued property and equipment at period end	$ 297	6
Conversion of convertible debt to preferred stock		7,787
Common stock issued as consideration for acquisition		$ 813

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	NOTE 1. DESCRIPTION OF BUSINESS SmartRent, Inc., and its wholly owned subsidiaries, (collectively the “Company”) formerly known as Fifth Wall Acquisition Corp. I (“FWAA”), was originally incorporated in Delaware on November 23, 2020, as a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more target businesses. On February 9, 2021, the Company consummated its initial public offering (the “IPO”), following which its shares began trading on the Nasdaq National Market (“Nasdaq”). On April 21, 2021, FWAA entered into an Agreement and Plan of Merger (as amended, the “Merger Agreement”) with SmartRent.com, Inc. (“Legacy SmartRent”) and Einstein Merger Corp. I, a wholly owned subsidiary of FWAA (“Merger Sub”). On August 24, 2021, the transactions contemplated by the Merger Agreement (the “Business Combination”) were consummated. In connection with the closing of the Business Combination, FWAA changed its name to SmartRent, Inc. and its shares began trading on the New York Stock Exchange (“NYSE”) under the symbol “SMRT.” As a result of the Business Combination, SmartRent, Inc. became the owner, directly or indirectly, of all of the equity interests of Legacy SmartRent and its subsidiaries. The Company is an enterprise software company that provides a fully integrated, brand-agnostic smart home operating system to residential property owners and operators, as well as homebuilders, “iBuyers,” developers, and residents. SmartRent’s solutions are designed to provide communities with visibility and control over assets while providing additional revenue opportunities through all-in-one home control offerings for residents. The Company is headquartered in Scottsdale, Arizona. The Business Combination The Company entered into the Merger Agreement in April 2021 and consummated the Business Combination in August 2021. Upon the closing of the Business Combination, the Company's certificate of incorporation was amended and restated to, among other things, increase the total number of authorized shares of capital stock to 550,000 shares, of which 500,000 shares were designated common stock, $0.0001 par value per share, and of which 50,000 shares were designated preferred stock, $0.0001 par value per share. Upon consummation of the Business Combination, each share of Legacy SmartRent convertible preferred stock and common stock issued and outstanding was canceled and converted into the right to receive approximately 4.8846 shares (the “Exchange Ratio”) of the Company’s Class A common stock, par value $0.0001 per share (“Common Stock”). Outstanding stock options and restricted stock units, whether vested or unvested, to purchase or receive shares of Legacy SmartRent common stock granted under the 2018 Stock Plan (see Note 8) converted into stock options and restricted stock units to purchase shares of the Company’s Common Stock upon the same terms and conditions that were in effect with respect to such stock options and restricted stock units immediately prior to the Business Combination, after giving effect to the Exchange Ratio. Outstanding warrants, whether vested or unvested, to purchase shares of Legacy SmartRent common stock (see Note 7) converted into warrants for shares of the Company’s Common Stock upon the same terms and conditions that were in effect with respect to such warrants immediately prior to the Business Combination, after giving effect to the Exchange Ratio. In connection with the Business Combination, • Holders of less than 1,000 shares of FWAA’s Class A Common Stock sold in its initial public offering (the “Initial Shares”) properly exercised their right to have such shares redeemed for a full pro rata portion of the trust account holding the proceeds from FWAA’s initial public offering, calculated as of two business days prior to the consummation of the Business Combination. Each such share was redeemed for approximately $10.00 per share, or $2 in the aggregate; • The shares of FWAA Class B Common Stock held by Fifth Wall Acquisition Sponsor, LLC (“Sponsor”) and FWAA’s independent directors automatically converted to 8,625 shares of Common Stock; and, • Pursuant to subscription agreements entered into in connection with the Merger Agreement (collectively, the “Subscription Agreements”), certain investors purchased an aggregate of 15,500 newly-issued shares of Common Stock at a purchase price of $10.00 per share for an aggregate purchase price of $155,000 (the “PIPE Investment”). At the closing of the Business Combination, the Company consummated the PIPE Investment. The Company incurred direct and incremental costs of approximately $55,859 in connection with the Business Combination and the related equity issuance, consisting primarily of investment banking, legal, accounting, and other professional fees, which were recorded to additional paid-in capital as a reduction of proceeds. The Company accounted for this transaction as a reverse merger in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under this method of accounting, FWAA was treated as the “acquired” company for financial reporting purposes. See Note 2 "Significant Accounting Policies" for further details. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy SmartRent issuing stock for the net assets of FWAA, accompanied by a recapitalization. The net assets of FWAA are stated at historical cost, with no goodwill or intangible assets recorded. Prior to the Business Combination, Legacy SmartRent and FWAA filed separate standalone federal, state, and local income tax returns. As a result of the Business Combination, SmartRent, Inc. will file a consolidated income tax return. For legal purposes, FWAA acquired Legacy SmartRent, and the transaction represents a reverse acquisition for federal income tax purposes - SmartRent Inc. will be the parent of the consolidated group with SmartRent Technologies, Inc. as a subsidiary, but in the year of the closing of the Business Combination, the consolidated tax return of SmartRent Inc. will include a full-year of Legacy SmartRent with FWAA joining in the return the day after the closing of the Business Combination. Upon closing of the Business Combination, the Company received gross proceeds of $500,628 from the Business Combination and PIPE Investment, offset by offerings costs of $55,859. The following table reconciles the elements of the Business Combination to the consolidated statements of cash flows and the consolidated statement of changes in stockholders’ equity for the period ended September 30, 2021: Cash - Trust and cash, net of redemptions $ 345,628 Cash - PIPE Investment 155,000 Gross proceeds from Business Combination 500,628 Less: transaction costs and advisory fees, paid (55,644 ) Net proceeds from Business Combination 444,984 Less: transaction costs and advisory fees, accrued (215 ) Reverse recapitalization, net of transaction costs $ 444,769

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2. SIGNIFICANT ACCOUNTING POLICIES Unaudited Interim Financial Information The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the consolidated accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. The Consolidated Balance Sheet at December 31, 2020 has been derived from the audited consolidated financial statements of the Company at that date. Certain notes and other information have been condensed or omitted from the interim financial statements presented herein. The financial data and other information disclosed in these Notes to Consolidated Financial Statements related to the three and nine months ended September 30, 2021 are unaudited. The unaudited interim financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which are of a normal recurring nature, necessary for a fair statement of the Company’s financial condition and results of operations and cash flows for the interim period presented. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the full year ending December 31, 2021 or any future period. Liquidity The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and liabilities and commitments in the normal course of business. To date, the Company has been funded primarily by preferred stock financings, cash from operations, and debt proceeds. We received approximately $444,984 in cash proceeds, net of fees and transaction costs funded in connection with the August 24, 2021 Closing of the Business Combination, which included approximately $155,000 from the PIPE Investment. Management believes that currently available resources will provide sufficient funds to enable the Company to meet its obligations for at least one year past the issuance date of these financial statements. The Company may need to raise additional capital through equity or debt financing to fund future operations until it generates positive operating cash flows. There can be no assurance that such additional equity or debt financing will be available on terms acceptable to the Company, or at all. Use of Estimates 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. Impact of COVID-19 The extensive impact caused by the COVID-19 pandemic has resulted and will likely continue to result in significant disruptions to the global economy, as well as businesses and capital markets around the world. In an effort to halt the outbreak of COVID-19, a number of countries, states, counties and other jurisdictions have imposed, and may impose in the future, various measures, including, but not limited to, voluntary and mandatory quarantines, stay-at-home orders, travel restrictions, limitations on gatherings of people, reduced operations and extended closures of businesses. The timing of customer orders and the Company’s ability to fulfill orders received was impacted by various COVID-19-related government mandates, resulting in a reduction in units sold. The Company has also witnessed certain current and prospective customers delaying purchases based on budget constraints or project delays related to COVID-19. The broader and long-term implications of the COVID-19 pandemic on the Company’s workforce, operations and supply chain, customer demand, results of operations and overall financial performance remain uncertain. The impact of COVID-19 and measures to prevent its spread have been impactful and continue to affect business in the following ways. • Our workforce Employee health and safety is a priority. In response to COVID-19, the Company established new protocols to help protect the health and safety of its workforce, including restricting employee travel, recommending that all non-essential personnel work from home and cancelled or reduced physical participation in sales activities, meetings, events and conferences and implemented additional safety protocols for essential workers. • Operations and supply chain The Company has experienced some production delays as a result of COVID-19, including impacts to our sourcing, manufacturing, and logistics channels. • Demand for our products The Company continues to engage with current and potential customers and believes some customers may continue to delay purchases because their development programs may also be delayed as a result of COVID-19. The Business Combination The Business Combination is accounted for as a reverse recapitalization as Legacy Smartrent was determined to be the accounting acquirer under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 805, Business Combinations (ASC 805). The determination is primarily based on the evaluation of the following facts and circumstances: • the equity holders of Legacy SmartRent hold the majority of voting rights in the Company; • the board of directors of Legacy SmartRent represent a majority of the members of the board of directors of the Company or were appointed by Legacy SmartRent; • the senior management of Legacy SmartRent became the senior management of the Company; and • the operations of Legacy SmartRent comprise the ongoing operations of the Company. In connection with the Business Combination, outstanding capital stock of Legacy SmartRent was converted into Common Stock of the Company, par value $0.0001 per share, representing a recapitalization, and the net assets of the Company were acquired at historical cost, with no goodwill or intangible assets recorded. Legacy SmartRent was deemed to be the predecessor of the Company, and the consolidated assets and liabilities and results of operations prior to the Closing Date are those of the Legacy SmartRent. The shares and corresponding capital amounts and net loss per share available to common stockholders, prior to the Business Combination, have been retroactively restated as shares reflecting the Exchange Ratio. Acquisition of Zenith In February 2020, Legacy SmartRent purchased all of the outstanding equity interests of Zenith Highpoint, Inc. (“Zenith”) in an acquisition that meets the definition of a business combination, for which the acquisition method of accounting was used, see Note 13 of these Consolidated Financial Statements. The acquisition was recorded on the date that the Company obtained control over the acquired business. The consideration paid was determined on the acquisition date and the acquisition-related costs, such as professional fees, were excluded from the consideration transferred and were recorded as expense in the period incurred. Assets acquired and liabilities assumed by the Company were recorded at their estimated fair values, while goodwill was measured as the excess of the consideration paid over the fair value of the net identifiable assets acquired and liabilities assumed. Net Loss Per Share Attributable to Common Stockholders The Company follows the two-class method to include the dilutive effect of securities that participated in dividends, if and when declared, when computing net income per common share. The two-class method determines net income per common share for each class of common stock and participating securities according to dividends, if and when declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The anti-dilutive effect of potentially dilutive securities is excluded from the computation of net loss per share because inclusion of such potentially dilutive shares on an as-converted basis would have been anti-dilutive. The Company’s participating securities include convertible preferred stock, as the holders are entitled to receive noncumulative dividends on a pari passu Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, adjusted for outstanding shares that are subject to repurchase and any shares issuable by the exercise of warrants for nominal consideration. Diluted net loss per share is computed by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. For periods in which the Company reports a net loss, the diluted net loss per common share attributable to common stockholders is the same as basic net loss per common share attributable to common stockholders, because inclusion of such potentially dilutive shares on an as-converted basis would have been anti-dilutive. Loans Receivable, net The Company records its investments in loans receivable at cost, net of any discounts, to other assets on the Consolidated Balance Sheets. Loan discounts are amortized over the life of the loan to interest income on the Consolidated Statement of Operations. Accounts Receivable, net Accounts receivable consist of balances due from customers for hardware, professional services and hosted services. Accounts receivable are recorded at invoiced amounts, are non-interest bearing and are presented net of the associated allowance for doubtful accounts on the Consolidated Balance Sheets. The allowance for doubtful accounts totaled $253 and $131 as of September 30, 2021 and December 31, 2020, respectively. The provision for doubtful accounts is recorded in general and administrative expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss and totaled $149 and $122 for the three and nine months ended September 30, 2021, respectively. There was no provision for doubtful accounts for the three or nine months ended September 30, 2020. There were no write-offs of accounts receivable deemed uncollectable for the three and nine months ended September 30, 2021 and 2020, respectively. The Company evaluates the collectibility of the accounts receivable balances and has determined the allowance for doubtful accounts based on a combination of factors, which include the nature of relationship and the prior experience the Company has with the account and an evaluation for current and projected economic conditions as of the Consolidated Balance Sheets date. Accounts receivable determined to be uncollectible are charged against the allowance for doubtful accounts. Actual collections of accounts receivable could differ from management’s estimates. Significant Customers A significant customer represents 10% or more of the Company’s total revenue or net accounts receivable balance at each respective Consolidated Balance Sheet date. The significant customers of the Company are also limited partners of an investor in the Company with approximately 23% and 32% ownership as of September 30, 2021 and December 31, 2020, respectively. The investor does not exert control or influence on these limited partners and, as such these limited partners do not meet the definition of related parties of the Company. Revenue as a percentage of total revenue and net accounts receivable as a percentage of total net accounts receivable for each significant customer follows. Accounts Receivable Revenue As of For the three months ended September 30, For the nine months ended September 30, September 30, 2021 December 31, 2020 2021 2020 2021 2020 Customer A * 30% 18% 48% 16% 31% Customer B * 30% * 18% * * Customer C * * * 10% * 20% Customer D * * * 13% * * Customer E * * 17% * * * Customer F 14% * * * * * * Total less than 10% for the respective period Warranty Allowance The Company provides its customers with limited service warranties associated with product replacement and related services. The warranty typically lasts one year following the installation of the product. The estimated warranty costs, which are expensed at the time of sale and included in hardware cost of revenue, are based on the results of product testing, industry and historical trends and warranty claim rates incurred and are adjusted for identified current or anticipated future trends as appropriate. Actual warranty claim costs could differ from these estimates. For the three months ended September 30, 2021 and 2020 warranty expense included in cost of revenue was $6,011 and $49, respectively. Warranty expense included in cost of revenue for the nine months ended September 30, 2021 and 2020, was $6,399 and $274, respectively. As of September 30, 2021 and December 31, 2020, the Company’s warranty allowance was $5,913 and $3,336, respectively. During the year ended December 31, 2020, the Company identified a deficiency with batteries contained in certain hardware sold and has included the expected cost of repair and removal for these batteries in its warranty allowance. During the three months ended September 30, 2021, the Company identified additional deficient batteries, and while the number of deficient batteries is less than one per cent of the total number of all batteries deployed, the Company has elected to replace all of these batteries acquired from one supplier from previously deployed hardware devices. The result of this decision to replace all of the batteries acquired from one supplier increased the Company’s provision for warranty allowance by $5,700. As of September 30, 2021 and December 31, 2020, $5,589 and $3,166, respectively, is included in the Company’s warranty allowance related to the remaining cost of replacement for this identified battery deficiency. Convertible Preferred Stock The Company assessed the provisions of Legacy SmartRent’s convertible preferred stock including redemption rights, dividends and voting rights to determine the appropriate classification. The Company determined that Legacy SmartRent’s shares of convertible preferred stock are appropriately classified as mezzanine equity because they were contingently redeemable into cash upon the occurrence of an event not solely within Legacy SmartRent’s control. When it is probable that a convertible preferred share will become redeemable, adjustments are recorded to adjust the carrying values. No such adjustments have been recorded during the nine months ended September 30, 2021 or year ended December 31, 2020. As a result of the Business Combination, each share of Legacy SmartRent convertible preferred stock and common stock was converted into the right to receive approximately 4.8846 shares of the Company’s Common Stock. Refer to Note 7, Convertible Preferred Stock and Equity . Fair Value of Financial Instruments Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities subject to on-going fair value measurement are categorized and disclosed into one of three categories depending on observable or unobservable inputs employed in the measurement. These two types of inputs have created the following fair value hierarchy. Level 1: Quoted prices in active markets that are accessible at the measurement date for assets and liabilities. Level 2: Observable prices that are based on inputs not quoted in active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. This hierarchy requires the Company to minimize the use of unobservable inputs and to use observable market data, if available, when determining fair value. The Company recognizes transfers between levels of the hierarchy based on the fair values of the respective financial measurements at the end of the reporting period in which the transfer occurred. There were no transfers between levels of the fair value hierarchy during the nine months ended September 30, 2021 or year ended December 31, 2020, respectively. The carrying amounts of the Company’s accounts receivable, accounts payable and accrued and other liabilities approximate their fair values due to their short maturities. Revenue Recognition The Company derives its revenue primarily from sales of systems that consist of hardware devices, professional installation services and hosted services to assist property owners and property managers with visibility and control over assets, while providing all-in-one home control offerings for residents The Company may enter into contracts that may contain multiple distinct performance obligations. The transaction price for a typical arrangement includes the price for the smart device hardware, installation services, a hardware hub device, and a subscription for use of our proprietary software. The subscription is for the hub device only and there is no support or ongoing subscription for other smart device hardware. The Company considers the hardware, installation services and the combination of the hardware hub device and proprietary software (the “hosted services”) to be separate performance obligations. The hardware hub device and the subscription are not sold separately. The hardware performance obligation includes the delivery of hardware, the installation services performance obligation includes the services to install the hardware and the hosted services performance obligation allows the customer access to software during the contracted-use term when the promised service is transferred to the customer. The Company partners with several manufactures to offer a range of compatible hardware products for its customers. The Company maintains control of the hardware purchased from manufacturers prior to it being transferred to the customer. The Company has discretion in establishing the price the customer will pay for the good or service. Consequently, the Company is primarily responsible for fulfilling the promise to provide the product and the Company is considered the principal in these arrangements. For each performance obligation identified, the Company estimates the standalone selling price, which represents the price at which the Company would sell the good or service separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price, considering available information such as market conditions, review of historical pricing data, and internal pricing guidelines related to the performance obligations. The Company then allocates the transaction price among those obligations based on the estimation of the standalone selling price. Payments are received by the Company by credit card, check or automated clearing house (“ACH”) payments and payment terms are determined by individual contracts and generally range from due upon receipt to net 30 days. Taxes collected from customers and remitted to governmental authorities are not included in reported revenue. Payments received from customers in advance of revenue recognition are reported as deferred revenue. The Company applies the practical expedient that allows for inclusion of the future auto-renewals in the initial measurement of the transaction price. The Company only applies these steps when it is probable that it will collect the consideration to which it is entitled in exchange for the goods or services it transfers to a customer. Timing of Revenue Recognition is as follows. • Hardware Revenue Hardware revenue includes the smart home devices which connect to the hardware hub device which is separately discussed in Hosted Services Revenue below. The Company’s performance obligation for hardware revenue is considered satisfied, and revenue is recognized, at a point in time when the hardware device is shipped to the customer. The Company generally provides a one-year • Professional Services Revenue Professional services consist of installations, do not result in significant customization of the product and are generally performed from two to four weeks in duration. Installations can be performed by the Company, contracted out to a third-party or the customer can perform the installation themselves. The Company’s professional services contracts are generally arranged on a fixed price basis and revenue is recognized over time as installations are completed. • Hosted Services Revenue Hosted services include recurring monthly subscription revenue generated from fees that provide customers access to one or more of the Company’s software applications including access controls, asset monitoring and related services. These arrangements have contractual terms typically ranging from one-month to seven-years The Company also sells the hardware hub device, which only functions with the subscription to the Company’s proprietary software applications and related hosting services and is sold only on an integrated basis. The Company considers the hub device and hosting services subscription a single performance obligation and therefore defers the recognition of revenue for the hub devices. The estimated average in-service life of the hub device is four years. When a hub device is included in a contract that does not require a long-term service commitment, the customer obtains a material right to renew the service because purchasing a new device is not required upon renewal. If a contract contains a material right, proceeds are allocated to the material right and recognized over the period of benefit, which is generally four years. Cost of Revenue Cost of revenue consists primarily of direct costs of products and services together with the indirect cost of customer care and support over the life of the service arrangement. • Hardware Cost of hardware revenue consists primarily of direct costs of proprietary products, hardware devices, supplies purchased from third-party providers, shipping costs, indirect costs related to warehouse facilities (including depreciation and amortization of capitalized assets and right-of-use assets), infrastructure costs, personnel-related costs associated with the procurement and distribution of products and warranty expenses together with the indirect cost of customer care and support. • Professional Services Cost of professional services revenue consists primarily of direct costs related to personnel-related expenses for installation and supervision of installation services, general contractor expenses and travel expenses associated with the installation of products and indirect costs that are also primarily personnel-related expenses in connection with training of and ongoing support for customers and residents. • Hosted Services Cost of hosted services revenue consists primarily of the amortization of the direct costs of the hardware hub device consistent with the revenue recognition period noted above in Hosted Services Revenue and infrastructure costs associated with providing software applications together with the indirect cost of customer care and support over the life of the service arrangement. Deferred Cost of Revenue Deferred cost of revenue includes all direct costs included in cost of revenue for hosted services and the hub device that have been deferred to future periods. Research and Development These expenses relate to the research and development of new products and services and enhancements to the Company’s existing product offerings. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Advertising Advertising costs are expensed as incurred and recorded as a component of sales and marketing expense. The Company incurred $235 and $164 of advertising expenses for the three months ended September 30, 2021 and 2020, respectively, and incurred $635 and $528 of advertising expenses during the nine months ended September 30, 2021 and 2020 respectively. Segments The Company has one operating segment and one reportable segment as its chief operating decision maker, who is its Chief Executive Officer, reviews financial information on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s principal operations are in the United States and the Company’s long-lived assets are located primarily within the United States. The Company held $5,832 and $7,941 of assets outside the United States at September 30, 2021 and December 31, 2020, respectively. Recent Accounting Guidance Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments—Credit Losses (Topic 326)” In December 2019, the FASB issued ASU No. 2019-12, “ Income Taxes (Topic 740)”

Fair Value Measurements and Fai

Fair Value Measurements and Fair Value of Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements and Fair Value of Instruments	NOTE 3. FAIR VALUE MEASUREMENTS AND FAIR VALUE OF INSTRUMENTS The following tables display the carrying values and fair values of financial instruments. As of September 30, 2021 As of December 31, 2020 Assets on the Consolidated Balance Sheets Carrying Value Unrealized Losses Fair Value Carrying Value Unrealized Losses Fair Value Cash Level 1 $ 437,494 $ - $ 437,494 32,723 $ - $ 32,723 Money market funds Level 1 35,008 - 35,008 5,895 - 5,895 Total $ 472,502 $ - $ 472,502 $ 38,618 $ - $ 38,618 As of September 30, 2021 As of December 31, 2020 Liabilities on the Consolidated Balance Sheets Carrying Value ( 1) Fair Value Carrying Value ( 1) Fair Value Term loan Level 2 $ 3,611 $ 3,636 $ 4,820 $ 4,913 Total liabilities $ 3,611 $ 3,636 $ 4,820 $ 4,913 (1) The carrying values are shown exclusive of discounts and other offsets. The fair values of the revolving line of credit and term loan, which are classified as Level 2 in the fair value hierarchy, are estimated using a discounted cash flow methodology based on market interest rate data and other market factors available at the end of the period. The fair values of convertible notes are estimated by discounting contractual cash flows at the interest rate we estimate the notes would bear if sold in the current market. The input used to develop our fair value measurements as of September 30, 2021 and December 31, 2020 was an effective interest rate of five percent

Revenue and Deferred Revenue

Revenue and Deferred Revenue	9 Months Ended
	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue and Deferred Revenue	NOTE 4. REVENUE AND DEFERRED REVENUE Disaggregation of Revenue In the following tables, revenue is disaggregated by primary geographical market and type of revenue. For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Revenue by geography United States $ 34,247 $ 15,568 $ 74,108 $ 36,355 International 885 1,020 1,861 2,578 Total revenue $ 35,132 $ 16,588 $ 75,969 $ 38,933 For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Revenue by type Hardware $ 22,025 $ 9,782 $ 48,452 $ 23,956 Professional services 8,180 4,717 15,345 9,558 Hosted services 4,927 2,089 12,172 5,419 Total revenue $ 35,132 $ 16,588 $ 75,969 $ 38,933 Remaining Performance Obligations Advance payments received from customers are recorded as deferred revenue and are recognized upon the completion of related performance obligations over the period of service. Advance payments for the hardware hub device are recorded as deferred revenue and recognized over the average in-service life of the hub. Advance payments received from customers for subscription services are recorded as deferred revenue and recognized over the term of the subscription. A summary of the change in deferred revenue is as follows. For the nine months ended September 30, 2021 2020 Deferred revenue balance as of January 1 $ 53,501 $ 19,083 Revenue recognized from balance of deferred revenue at the beginning of the period (3,992 ) (1,349 ) Revenue deferred during the period 18,420 12,904 Revenue recognized from revenue originated and deferred during the period (3,922 ) (2,851 ) Deferred revenue balance as of March 31 64,007 27,787 Revenue recognized from balance of deferred revenue at the beginning of the period (3,270 ) (1,483 ) Revenue deferred during the period 17,346 6,469 Revenue recognized from revenue originated and deferred during the period (3,578 ) (860 ) Deferred revenue balance as of June 30 74,505 31,913 Revenue recognized from balance of deferred revenue at the beginning of the period (6,185 ) (1,217 ) Revenue deferred during the period 19,001 12,506 Revenue recognized from revenue originated and deferred during the period (2,640 ) (776 ) Deferred revenue balance as of September 30 $ 84,681 $ 42,426 As of September 30, 2021, the Company expects to recognize 45% of its total deferred revenue within the next 12 months, 31% of its total deferred revenue between 13 and 36 months and 23% between 37 and 60 months. Any deferred revenue expected to be recognized beyond five years is immaterial. Deferred cost of revenue includes all direct costs included in cost of revenue that have been deferred to future periods.

Other Financial Statement Infor

Other Financial Statement Information	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Other Financial Statement Information	NOTE 5. OTHER FINANCIAL STATEMENT INFORMATION Prepaid expenses and other current assets consisted of the following. September 30, 2021 December 31, 2020 Prepaid expenses $ 17,922 $ 3,276 Other current assets 5,010 564 Total prepaid expenses and other current assets $ 22,932 $ 3,840 In July 2021, the Company extended a $2,000 loan as part of a customer referral agreement. Repayments on the loan receivable will be made monthly based on the number of referrals with active subscriptions until the loan is repaid in full (no stated interest). No repayments have been made on the loan receivable during the three months ended September 30, 2021. Property and equipment, net consisted of the following. September 30, 2021 December 31, 2020 Computer hardware and software $ 1,580 $ 868 Furniture and fixtures 162 109 Leasehold improvements 139 103 Warehouse and other equipment 461 124 Property and equipment, gross 2,342 1,204 Less: Accumulated depreciation and amortization (652 ) (357 ) Total property and equipment, net $ 1,690 $ 847 Accrued expenses and other current liabilities consisted of the following. September 30, 2021 December 31, 2020 Warranty allowance $ 5,913 $ 3,336 Accrued compensation costs 3,860 3,234 Accrued expenses 2,417 764 Sales tax payable 997 1,282 Lease liabilities, current 505 485 Other 282 454 Total accrued expenses and other current liabilities $ 13,974 $ 9,555

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	NOTE 6. DEBT Term Loan and Revolving Line of Credit Facility In August 2019, Legacy SmartRent entered into a loan and security agreement for a credit facility (the “Credit Facility”). The Credit Facility provides $15,000 of borrowing capacity and consists of a $10,000 revolving line of credit (the “Revolving Facility”), which originally matured in August 2021, but was extended to November 2021, and a $5,000 term loan (the “Term Loan Facility”), which will mature in November 2023. The Revolving Facility is subject to an availability sublimit in accordance with the terms and conditions of the Credit Facility (the “Sublimit”). The Sublimit is derived by multiplying eligible accounts receivable by 85%. The amount available to the Company for additional borrowings on the Revolving Facility was $10,000 as of September 30, 2021 and December 31, 2020. Amounts borrowed under the Revolving Facility may be repaid and, prior to the Revolving Facility maturity date, reborrowed. 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. The Company has the option to prepay all, but not less than all, of the Term Loan Facility, subject to certain terms and conditions. After repayment, the Term Loan Facility (or any portion thereof) may not be reborrowed. Proceeds from the Credit Facility are used for general corporate purposes. In connection with the Credit Facility, the Company issued warrants (Note 7) to purchase Legacy SmartRent’s common stock, which were subsequently exercised on September 7, 2021 pursuant to a cashless exercise and resulting in the issuance of 147,911 shares of Common Stock. Upon issuance, the fair value of the warrants were recorded as additional paid-in capital with a reduction to the carrying value of the Term Loan Facility in the accompanying Consolidated Balance Sheets. The resulting discount from outstanding principal balance of the Term Loan Facility is being amortized using the effective interest rate method over the periods to maturity. Amortization of this discount is recorded as interest expense in the accompanying Consolidated Statements of Operations and Comprehensive Loss and Comprehensive Loss. The following table sets forth a summary of the outstanding principal amounts under the Credit Facility as of September 30, 2021 and December 31, 2020. Maturity Date Interest Rate ( 1) September 30, 2021 December 31, 2020 Term loan facility November 2023 6.00% $ 3,611 $ 4,861 Debt discount, net (29 ) (41 ) Term loan facility - carrying value $ 3,582 $ 4,820 (1) Interest rates for the Term Loan Facility and the Revolving Facility are based upon the prime rate as published by the Wall Street Journal (Prime Rate) plus an applicable margin, subject to floors as described below. As of September 30, 2021 and December 31, 2020, the applicable margins for the Revolving Facility and Term Loan Facility was 0.25% and the Prime Rate as of September 30, 2021 and December 31, 2020 was 3.25%. In accordance with the Credit Facility, the applicable interest rates are as stated above. The principal amount outstanding under the Revolving Facility shall accrue interest at a floating per annum rate equal to (i) when our unrestricted cash maintained with the lender minus all obligations under the Revolving Facility is at least one dollar ($1.00) (we are a Net Depositor), the greater of (x) one quarter of one percent (0.25%) above the Prime Rate, or (y) five and one half of one percent (5.50%), and (ii) when we are not a Net Depositor, the greater of (x) three quarters of one percent (0.75%) above the Prime Rate, or (y) six percent (6.00%), which interest shall be payable monthly. The principal amount outstanding under the Term Loan Facility shall accrue interest at a floating per annum rate equal to the greater of (A) one percent (1.00%) above the Prime Rate and (B) six percent (6.00%), which interest was payable monthly through November 2020. In addition to paying interest on outstanding principal under the Credit Facility, the Company is required to pay a facility fee to the lender under the Revolving Facility in respect of the unused commitments thereunder. The facility fee rate is based on the daily unused amount of the Revolving Facility and is one eighth of one percent (0.125%) per annum based on the unused facility amount. 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 The Credit Facility also requires the Company, on a consolidated basis with its subsidiaries, to maintain a minimum liquidity ratio. If an event of default occurs, the lender is entitled to take various actions, including the acceleration of amounts due under the Credit Facility and all actions permitted to be taken by a secured creditor. As of September 30, 2021, and through the date these consolidated financial statements were issued, the Company believes it was in compliance with all financial covenants. The Credit Facility is collateralized by first priority or equivalent security interests in substantially all the property, rights and assets of the Company. Convertible Note In February 2020, Legacy SmartRent issued a $50 principal, 5% per annum subordinated convertible note pursuant to a note purchase agreement (the “February 2020 Convertible Note”). Interest on the February 2020 Convertible Note accrued at the coupon rate, compounded annually. In December 2019, Legacy SmartRent issued a $7,500 principal amount, 5% per annum subordinated convertible note pursuant to a note purchase agreement (the “December 2019 Convertible Note”). Interest on the December 2019 Convertible Note accrued at the coupon rate, compounded annually. Conversion of Convertible Notes In March 2020, in conjunction with the Series C-1 preferred stock issuance, the December 2019 and February 2020 Convertible Notes, along with the respective accrued interest thereon, were automatically converted into shares of Series C-1 preferred stock at conversion prices of $10.02 and $10.01, respectively. As such, the convertible noteholders received an aggregate of 756 shares and 5 shares, respectively, of Series C-1 convertible preferred stock for the conversion of the Convertible Notes. The redemptions of the notes are considered early extinguishments of debt. The difference between the reacquisition price of the Convertible Notes and the net carrying amount of the extinguished Convertible Notes should be recognized currently in income as a loss or gain. Because the reacquisition price of the December 2019 Convertible Note was higher than the carrying value of the same on the date of extinguishment, the redemption of the December 2019 Convertible Note was recorded as a loss on conversion in the amount of $164 and included in other expense, net in the accompanying Consolidated Statements of Operations and Comprehensive Loss for the nine months ended September 30, 2020. No expenses were recorded in connection with this transaction during the nine months ended September 30, 2021. The following table summarizes the contractual maturities of the Company’s term loan facility which comprises all of the Company’s outstanding debt as of September 30, 2021. Year Term Loan Facility Remainder of 2021 $ 417 2022 1,667 2023 1,528 2024 and thereafter - Total 3,611 Less: unamortized debt discount (29 ) Total carrying value $ 3,582

Convertible Preferred Stock and

Convertible Preferred Stock and Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Convertible Preferred Stock and Equity	NOTE 7. CONVERTIBLE PREFERRED STOCK AND EQUITY Preferred Stock The Company is authorized to issue 50,000 As discussed in Note 1, the Company has retroactively adjusted the shares issued and outstanding prior to August 24, 2021 to give effect to the Exchange Ratio to determine the number of shares of common stock into which they were converted. Prior to the Business Combination, Legacy SmartRent had shares of $0.00001 par value Series Seed, Series A, Series B, Series B-1, Series C, and Series C-1 preferred stock outstanding, all of which were convertible into shares of common stock of Legacy SmartRent on a 1:1 basis, subject to certain anti-dilution protections. Upon the closing of the Business Combination, the outstanding shares of preferred stock were converted into Common Stock of the Company based on the Exchange Ratio The original issuance price per share of Legacy SmartRent’s authorized, issued and outstanding preferred stock follows as of August 24, 2021. Issue Date Series Shares Authorized Shares Issued and Outstanding Original Issue Price per Share Liquidation Preference March 2018 Seed 4,707 4,707 $ 1.0000 $ 4,707 September 2018 A 4,541 4,541 $ 1.1011 5,000 May 2019 B-1 508 508 $ 4.9767 2,527 May 2019 B 5,425 5,425 $ 6.2209 33,750 March 2020 C-1 761 761 $ 10.0223 7,624 March - May 2020; March 2021 C 8,874 8,874 $ 10.4236 92,468 24,816 24,816 $ 146,076 The original issuance price per share of the Company’s authorized, issued and outstanding preferred stock follows as of December 31, 2020. Issue Date Series Shares Authorized Shares Issued and Outstanding Original Issue Price per Share Liquidation Preference March 2018 Seed 4,707 4,707 $ 1.0000 $ 4,707 September 2018 A 4,541 4,541 $ 1.1011 5,000 May 2019 B-1 508 508 $ 4.9767 2,527 May 2019 B 5,425 5,425 $ 6.2209 33,750 March 2020 C-1 761 761 $ 10.0223 7,624 March - May 2020 C 5,756 5,516 $ 10.4236 57,500 21,698 21,458 $ 111,108 Upon the closing of the Business Combination, 24,816 outstanding shares of preferred stock were converted into 121,214 shares of Common Stock at the Exchange Ratio of 4.8846. During the nine During the year ended December 31, 2020, Legacy SmartRent issued 5,516 shares of Series C preferred stock through three tranches that closed in March, April and May 2020. The Series C preferred stock was issued in exchange for $57,500 gross cash proceeds. Expenses in connection with the issuance of the Series C preferred stock were $61, resulting in net cash proceeds of $57,439. During the year ended December 31, 2020, the Company also issued 761 shares of Series C-1 preferred stock by redeeming two subordinated convertible notes originally issued in December 2019 and February 2020. In March 2018, in connection with Legacy SmartRent’s conversion from a limited liability company to corporation, the founders of Legacy SmartRent exchanged their member interests for aggregate total of 1,800 shares of common stock and 4,252 shares of Series Seed preferred stock. After conversion to a corporation in March 2018, in connection with the Series Seed preferred stock financing, Legacy SmartRent and its Chief Executive Officer (“CEO”) entered into a stock restriction agreement, whereby certain restrictions and vesting conditions were placed on 1,080 of the CEO’s common stock shares to vest in 30 equal monthly installments, on each monthly anniversary from the effective date of the stock restriction agreement. As of December 31, 2020, no amounts related to this agreement remained unamortized. During the three and nine months ended September 30, 2020 stock-based compensation in the amount of $108 and $324 was recognized, respectively, and included as a component of general and administrative expense in the accompanying Consolidated Statement of Operations and Comprehensive Loss. As of December 31, 2020, the CEO owned 996 shares of common stock related to this transaction which were vested and owned outright. As part of the Business Combination on August 24, 2021, these shares converted to 4,865 shares of Common Stock using the Exchange Ratio of 4.8864. Warrants In February 2021, Legacy SmartRent issued warrants to purchase Legacy SmartRent’s common stock as consideration to certain customers. The warrants are exercisable upon issuance until their expiration in February 2031 In April 2020, in connection with the closing of the second tranche of the Series C preferred stock, Legacy SmartRent issued a warrant to purchase common stock to an investor who participated in the second tranche closing. The warrant represents compensation paid for marketing services to be provided and was accounted for using stock-based compensation guidance. The warrant vests based on the number of installed units attained over a measurement period, which expires in April 2023 In August 2019, in connection with the Credit Facility (Note 6), Legacy SmartRent issued warrants to purchase common stock of Legacy SmartRent to the lender. The warrants were exercisable upon issuance until their expiration in August 2029 or earlier upon redemption. The holder of the warrants, together with any successor or permitted assignee or transferee, was entitled to purchase 33 fully paid and non-assessable shares of the Legacy SmartRent’s common stock at $2.30 per share, subject to adjustment pursuant to the warrant. The fair value of the warrants has been recorded as additional paid in capital and a reduction to the carrying value of the Term Loan Facility. The resulting discount from outstanding principal balance of the Term Loan Facility is being amortized using the effective interest rate method over the periods to maturity. Amortization of this discount is recorded as interest expense. The warrants were exercised during the three months ended September 30, 2021 as discussed above (Note 6). In March 2019, Legacy SmartRent issued a warrant to purchase common stock to the purchaser of a $2,500 convertible note. The warrant represented compensation paid for marketing services to be provided and was accounted for using stock-based compensation guidance. The warrant vested based on the number of installed units attained over a measurement period, which expired in March 2021. The variability in the units earned was determined to be a performance condition and did not require classification of the warrant as a liability. Upon vesting, the warrant holder was entitled to purchase up to 503 fully paid and non-assessable shares of Legacy SmartRent’s common stock at $0.01 per share, subject to adjustment pursuant to the warrant. The Company measured the fair value of the warrant using the Black-Scholes-Merton model. The Company recorded the associated marketing expense over the service period as the units were installed with an offset to additional paid-in-capital. During the three and nine months ended September 30, 2021, the Company recognized no expenses related to these warrants. During the three and nine months ended September 30, 2020, the Company recognized $160 and $342 of sales and marketing expense related to these warrants in the accompanying Consolidated Statements of Operations and Comprehensive Loss. These warrants were exercised by the holder in March 2021, which resulted in 503 shares of common stock being issued by Legacy SmartRent.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	NOTE 8. STOCK-BASED COMPENSATION 2018 Stock Plan Legacy SmartRent’s board of directors adopted, and its stockholders approved, the SmartRent.com, Inc. 2018 Stock Plan (the “2018 Stock Plan”), effective March 2018. The purpose of the 2018 Stock Plan was to advance the interests of Legacy SmartRent and its stockholders by providing an incentive to attract, retain and reward persons performing services for Legacy SmartRent and by motivating such persons to contribute to the growth and profitability of Legacy SmartRent. The 2018 Stock Plan seeks to achieve this purpose by providing for awards in the form of options, restricted stock purchase rights or restricted stock bonuses. Awards granted under the 2018 Stock Plan generally expire ten years from the date of grant and become vested and exercisable over a four-year As part of the Business Combination on August 24, 2021, the 2018 Stock Plan was terminated and all awards issued thereunder were assumed by the Company and converted to options to purchase Common Stock and restricted stock units for Common Stock using the Exchange Ratio. Summaries of the Company’s 2018 Stock Plan activity for the nine months ended September 30, 2021 is presented below. Options Outstanding Number of Options Weighted- Average Exercise Price ($ per share) Weighted Average Remaining Contractual Life (years) Aggregate Intrinsic Value December 31, 2020 2,255 $ 2.49 8.96 $ - Retroactive application of Exchange Ratio 8,202 December 31, 2020, as adjusted 10,457 Granted - Cancelled - September 30, 2021 10,457 $ 0.51 8.21 $ - Amendment to the 2018 Stock Plan In April 2021, the board of directors of Legacy SmartRent executed a unanimous written consent to provide an additional incentive to certain employees of Legacy SmartRent by amending the 2018 Stock Plan to allow for the issuance of restricted stock units and granted a total of 1,533 restricted stock units to certain employees which vest over four years. The estimated fair value for each restricted stock unit issued was approximately $21.55 per share and the total stock-based compensation expense to be amortized over the vesting period is $33,033. As part of the Business Combination on August 24, 2021 these restricted units were assumed by the Company and converted to 7,489 restricted stock units at a per share fair value of $4.41 pursuant to the Exchange Ratio, and remain outstanding. 2021 Equity Incentive Plan In connection with the Business Combination, the board of directors approved and implemented the SmartRent, Inc. 2021 Equity Incentive Plan. The purpose of the 2021 Plan is to enhance our ability to attract, retain and motivate persons who make, or are expected to make, important contributions to the Company by providing these individuals with equity ownership opportunities and equity-linked compensation opportunities. Equity awards and equity-linked compensation opportunities are intended to motivate high levels of performance and align the interests of directors, employees and consultants with those of stockholders by giving the directors, employees and consultants the perspective of an owner with an equity or equity-linked stake in the Company and providing a means of recognizing their contributions to our success. The 2021 Plan authorizes th e compensation committee to provide incentive compensation in the form of stock options, restricted stock and stock units, performance shares and units, other stock-based awards and cash-based awards. Under the 2021 Plan, the Company is authorized to issue up to 15,500 shares of Common Stock. In August 2021, 324 restricted stock units were granted to the board of directors at a fair value of $12.10 and will vest over four years. Stock-Based Compensation The Company recorded stock-based compensation expense as follows. For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Research and development $ 1,400 $ 64 $ 1,507 $ 192 Sales and marketing 974 21 1,006 64 General and administrative 1,933 356 2,649 1,087 Total $ 4,307 $ 441 $ 5,162 $ 1,343 During the three and nine months ended September 30, 2021 stock-based compensation expense of $205 and $607, respectively, was recognized for 844 shares granted in connection with the Zenith acquisition and are recorded as a component of general and administrative expense. During the three and nine months ended September 30, 2020, $204 and $502, respectively, of stock-based compensation expense related to these shares was recognized and are recorded as a component of general and administrative expense. During the three and nine months ended September 30, 2021 stock-based compensation expense of $227 and $680, respectively, was recognized in connection with the vesting of outstanding options. During the three and nine months ended September 30, 2020 stock-based compensation expense of $128 and $518, respectively, was recognized in connection with the vesting of outstanding options. During the three and nine months ended September 30, 2020 stock-based compensation in the amount of $108 and $324 was recognized, respectively, in connection with the vesting of common stock that had been converted from Series Seed preferred shares and was recorded as a component of general and administrative expense. These shares were fully vested at December 31, 2020 and no expense was recognized during the nine months ended September 30, 2021 in connection with these shares

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9. INCOME TAXES The Company’s effective tax rate (ETR) from continuing operations was (0.28%) for the nine months ended September 30, 2021 and (0.65%) for the nine months ended September 30, 2020. The Company’s ETR during the three months ended September 30, 2021 differed from the federal statutory rate of 21% primarily due to changes in the federal and state valuation allowance and foreign taxes. The valuation allowance recorded against the Company’s federal and state net deferred tax assets was $30,612 as of September 30, 2021. As of September 30, 2021, the Company continues to have a full valuation allowance recorded against all federal and state deferred tax assets and will continue to evaluate the valuation allowance in future periods for any change in circumstances that causes a change in judgment about the realizability of the deferred tax assets. The amount of the deferred tax assets considered realizable could be adjusted in future periods if estimates of future taxable income during the carryforward period are increased, if objective negative evidence in the form of cumulative losses is no longer present, and if the Company employs tax planning strategies in the future.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	NOTE 10. NET LOSS PER SHARE The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because inclusion of the shares on an as-converted basis would have been anti-dilutive. For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Convertible preferred stock - 104,821 - 104,821 Common stock options and restricted stock units 25,994 11,019 25,994 11,019 Common stock warrants 4,601 161 4,601 161 Shares subject to repurchase 2,748 4,123 2,748 4,123 Total 33,344 120,123 33,344 120,123

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	NOTE 11. RELATED-PARTY TRANSACTIONS During the three and nine months ended September 30, 2021, the Company incurred marketing expense of $184 and $543, respectively, included in sales and marketing expense in connection with the vesting of warrants held by an investor. During the three and nine months ended September 30, 2020, $160 and $342 are included in sales and marketing expense in connection with the vesting of warrants held by an investor. The Company incurred consulting expense of $45 and $83 included in research and development expenses for the three and nine months ended September 30, 2021, respectively, related to services provided by companies in which two of the Company's executives have control or significant influence. During the nine months ended September 30, 2020,

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12. COMMITMENTS AND CONTINGENCIES Sales Taxes The Company determined that it was required to pay sales and use tax in various jurisdictions. Accordingly, the Company has recorded a liability of $997 and $1,282 as of September 30, 2021 and December 31, 2020, respectively, which includes estimated penalties and interest of $145 at December 31, 2020. There are no penalties and interest included in the balance at September 30, 2021. Supplier Commitment Effective August 2020, the Company had a commitment with a supplier to place monthly product orders over an annual period based on agreed-upon minimum monthly volumes. As of December 31, 2020, the remaining purchase commitment had a value of $12,601. In March 2021 this agreement was amended and the term of the agreement was extended to August 2022 resulting in the total remaining commitment amount as of September 30, 2021, increasing to $22,856. Legal Matters The Company is subject to various legal proceedings and claims that arise in the ordinary course of our business. Liabilities are accrued when it is believed that it is both probable that a liability has been incurred and that the Company can reasonably estimate the amount of the potential loss. The Company does not believe that the outcome of these proceedings or matters will have a material effect on the consolidated financial statements.

Zenith Acquisition

Zenith Acquisition	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Zenith Acquisition	NOTE 13. ZENITH ACQUISITION In February 2020, Legacy SmartRent purchased all of the outstanding equity interests of Zenith which had previously been a vendor for Legacy SmartRent. The Company accounted for the Zenith acquisition as a business combination. The purchase price consisted of $6,909 cash, $974 promissory note consideration, $813 common stock consideration, and $1,158 related to settlement of preexisting relationships for a total purchase price of $9,854. The preexisting relationship related to prepaid inventory owned by the Company, with a corresponding deferred revenue balance recorded by Zenith. This preexisting relationship was settled on the acquisition date as an adjustment to the purchase price. The aggregate purchase price exceeded the fair value of the net tangible and intangible assets acquired, and accordingly the Company recorded goodwill of $4,162. Additionally, Legacy SmartRent issued 844 shares of common stock that vest annually over three years and $3,353 of promissory notes to certain employees, contingent upon continued employment. These costs are recognized as post-combination compensation expenses as a component of general and administrative expense on the Company’s Consolidated Statement of Operations and Comprehensive Loss. In connection with the common stock issued with this transaction, the Company recorded $ 607 502 205 The total purchase consideration and the fair values and liabilities at the acquisition date were as follows. Consideration Cash Consideration $ 6,909 Promissory Note Consideration 974 Stock Consideration 813 Settlement of Preexisting Relationships 1,158 Fair Value of Total Consideration Transferred 9,854 Recognized amounts of identifiable assets acquired and liabilities assumed Cash $ 4,527 Accounts receivable 518 Inventory 692 Prepaid expenses and other current assets 632 Property and equipment, net 61 Total identifiable assets acquired 6,430 Accounts payable 490 Accrued expenses and other current liabilities 248 Total liabilities assumed 738 Total identifiable net assets 5,692 Goodwill $ 4,162 The Company recognized approximately $21 of acquisition related costs that were expensed during the three months ended March 31, 2020 and are included in general and administrative expenses. None of these costs were expensed during the three months ended September 30, 2020. The excess of the purchase price over the tangible and intangible assets acquired has been recorded as Goodwill. The Company determined the intangible assets held by Zenith were not material to the acquisition and did not include them in the acquisition. The goodwill is attributable primarily to the workforce of the acquired business and expected synergies with the Company’s existing operations and is not deductible for income tax purposes. The Company’s consolidated balance sheet for the year ended December 31, 2020, and other financial statements presented herein for the three and nine months ended September 30, 2021 and 2020 include the results of operations of Zenith since the acquisition date. Revenue related to Zenith and included in amounts presented on the Company’s Consolidated Statement of Operations and Comprehensive Loss are $1,020 and $2,578 for the three and nine months ended September 30, 2020, respectively. Net income related to Zenith and included in amounts presented on the Company’s Consolidated Statement of Operations and Comprehensive Loss are $133 and $478 for the three and nine months ended September 30, 2020, respectively. Pro forma disclosures have not been provided since the acquisition did not have, and is not expected to have, a material impact on the Company’s results of operations.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 14. SUBSEQUENT EVENTS In connection with the preparation of the accompanying consolidated financial statements, the Company has evaluated events and transactions occurring after September 30, 2021 and through November 10, 2021, the date these financial statements were issued, for potential recognition or disclosure and has determined that there are no additional items to disclose except as disclosed below. Revolving Facility In October 2021, the Company extended the maturity date of its Revolving Facility to December 2021. Restricted Stock Units On November 1, 2021, the Company granted 72 restricted stock units to certain executives pursuant to the 2021 Equity Incentive Plan. These restricted stock units had a fair value of $12.10 at the time of the grant and will vest over four years.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the consolidated accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. The Consolidated Balance Sheet at December 31, 2020 has been derived from the audited consolidated financial statements of the Company at that date. Certain notes and other information have been condensed or omitted from the interim financial statements presented herein. The financial data and other information disclosed in these Notes to Consolidated Financial Statements related to the three and nine months ended September 30, 2021 are unaudited. The unaudited interim financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which are of a normal recurring nature, necessary for a fair statement of the Company’s financial condition and results of operations and cash flows for the interim period presented. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the full year ending December 31, 2021 or any future period.
Liquidity	Liquidity The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and liabilities and commitments in the normal course of business. To date, the Company has been funded primarily by preferred stock financings, cash from operations, and debt proceeds. We received approximately $444,984 in cash proceeds, net of fees and transaction costs funded in connection with the August 24, 2021 Closing of the Business Combination, which included approximately $155,000 from the PIPE Investment. Management believes that currently available resources will provide sufficient funds to enable the Company to meet its obligations for at least one year past the issuance date of these financial statements. The Company may need to raise additional capital through equity or debt financing to fund future operations until it generates positive operating cash flows. There can be no assurance that such additional equity or debt financing will be available on terms acceptable to the Company, or at all.
Use of Estimates	Use of Estimates 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.
Impact of COVID-19	Impact of COVID-19 The extensive impact caused by the COVID-19 pandemic has resulted and will likely continue to result in significant disruptions to the global economy, as well as businesses and capital markets around the world. In an effort to halt the outbreak of COVID-19, a number of countries, states, counties and other jurisdictions have imposed, and may impose in the future, various measures, including, but not limited to, voluntary and mandatory quarantines, stay-at-home orders, travel restrictions, limitations on gatherings of people, reduced operations and extended closures of businesses. The timing of customer orders and the Company’s ability to fulfill orders received was impacted by various COVID-19-related government mandates, resulting in a reduction in units sold. The Company has also witnessed certain current and prospective customers delaying purchases based on budget constraints or project delays related to COVID-19. The broader and long-term implications of the COVID-19 pandemic on the Company’s workforce, operations and supply chain, customer demand, results of operations and overall financial performance remain uncertain. The impact of COVID-19 and measures to prevent its spread have been impactful and continue to affect business in the following ways. • Our workforce Employee health and safety is a priority. In response to COVID-19, the Company established new protocols to help protect the health and safety of its workforce, including restricting employee travel, recommending that all non-essential personnel work from home and cancelled or reduced physical participation in sales activities, meetings, events and conferences and implemented additional safety protocols for essential workers. • Operations and supply chain The Company has experienced some production delays as a result of COVID-19, including impacts to our sourcing, manufacturing, and logistics channels. • Demand for our products The Company continues to engage with current and potential customers and believes some customers may continue to delay purchases because their development programs may also be delayed as a result of COVID-19.
The Business Combination and Acquisition of Zenith	The Business Combination The Business Combination is accounted for as a reverse recapitalization as Legacy Smartrent was determined to be the accounting acquirer under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 805, Business Combinations (ASC 805). The determination is primarily based on the evaluation of the following facts and circumstances: • the equity holders of Legacy SmartRent hold the majority of voting rights in the Company; • the board of directors of Legacy SmartRent represent a majority of the members of the board of directors of the Company or were appointed by Legacy SmartRent; • the senior management of Legacy SmartRent became the senior management of the Company; and • the operations of Legacy SmartRent comprise the ongoing operations of the Company. In connection with the Business Combination, outstanding capital stock of Legacy SmartRent was converted into Common Stock of the Company, par value $0.0001 per share, representing a recapitalization, and the net assets of the Company were acquired at historical cost, with no goodwill or intangible assets recorded. Legacy SmartRent was deemed to be the predecessor of the Company, and the consolidated assets and liabilities and results of operations prior to the Closing Date are those of the Legacy SmartRent. The shares and corresponding capital amounts and net loss per share available to common stockholders, prior to the Business Combination, have been retroactively restated as shares reflecting the Exchange Ratio. Acquisition of Zenith In February 2020, Legacy SmartRent purchased all of the outstanding equity interests of Zenith Highpoint, Inc. (“Zenith”) in an acquisition that meets the definition of a business combination, for which the acquisition method of accounting was used, see Note 13 of these Consolidated Financial Statements. The acquisition was recorded on the date that the Company obtained control over the acquired business. The consideration paid was determined on the acquisition date and the acquisition-related costs, such as professional fees, were excluded from the consideration transferred and were recorded as expense in the period incurred. Assets acquired and liabilities assumed by the Company were recorded at their estimated fair values, while goodwill was measured as the excess of the consideration paid over the fair value of the net identifiable assets acquired and liabilities assumed.
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The Company follows the two-class method to include the dilutive effect of securities that participated in dividends, if and when declared, when computing net income per common share. The two-class method determines net income per common share for each class of common stock and participating securities according to dividends, if and when declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The anti-dilutive effect of potentially dilutive securities is excluded from the computation of net loss per share because inclusion of such potentially dilutive shares on an as-converted basis would have been anti-dilutive. The Company’s participating securities include convertible preferred stock, as the holders are entitled to receive noncumulative dividends on a pari passu Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, adjusted for outstanding shares that are subject to repurchase and any shares issuable by the exercise of warrants for nominal consideration. Diluted net loss per share is computed by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. For periods in which the Company reports a net loss, the diluted net loss per common share attributable to common stockholders is the same as basic net loss per common share attributable to common stockholders, because inclusion of such potentially dilutive shares on an as-converted basis would have been anti-dilutive.
Loans Receivable, Net	Loans Receivable, net The Company records its investments in loans receivable at cost, net of any discounts, to other assets on the Consolidated Balance Sheets. Loan discounts are amortized over the life of the loan to interest income on the Consolidated Statement of Operations.
Accounts Receivable, net	Accounts Receivable, net Accounts receivable consist of balances due from customers for hardware, professional services and hosted services. Accounts receivable are recorded at invoiced amounts, are non-interest bearing and are presented net of the associated allowance for doubtful accounts on the Consolidated Balance Sheets. The allowance for doubtful accounts totaled $253 and $131 as of September 30, 2021 and December 31, 2020, respectively. The provision for doubtful accounts is recorded in general and administrative expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss and totaled $149 and $122 for the three and nine months ended September 30, 2021, respectively. There was no provision for doubtful accounts for the three or nine months ended September 30, 2020. There were no write-offs of accounts receivable deemed uncollectable for the three and nine months ended September 30, 2021 and 2020, respectively. The Company evaluates the collectibility of the accounts receivable balances and has determined the allowance for doubtful accounts based on a combination of factors, which include the nature of relationship and the prior experience the Company has with the account and an evaluation for current and projected economic conditions as of the Consolidated Balance Sheets date. Accounts receivable determined to be uncollectible are charged against the allowance for doubtful accounts. Actual collections of accounts receivable could differ from management’s estimates.
Significant Customers	Significant Customers A significant customer represents 10% or more of the Company’s total revenue or net accounts receivable balance at each respective Consolidated Balance Sheet date. The significant customers of the Company are also limited partners of an investor in the Company with approximately 23% and 32% ownership as of September 30, 2021 and December 31, 2020, respectively. The investor does not exert control or influence on these limited partners and, as such these limited partners do not meet the definition of related parties of the Company. Revenue as a percentage of total revenue and net accounts receivable as a percentage of total net accounts receivable for each significant customer follows. Accounts Receivable Revenue As of For the three months ended September 30, For the nine months ended September 30, September 30, 2021 December 31, 2020 2021 2020 2021 2020 Customer A * 30% 18% 48% 16% 31% Customer B * 30% * 18% * * Customer C * * * 10% * 20% Customer D * * * 13% * * Customer E * * 17% * * * Customer F 14% * * * * * * Total less than 10% for the respective period
Warranty Allowance	Warranty Allowance The Company provides its customers with limited service warranties associated with product replacement and related services. The warranty typically lasts one year following the installation of the product. The estimated warranty costs, which are expensed at the time of sale and included in hardware cost of revenue, are based on the results of product testing, industry and historical trends and warranty claim rates incurred and are adjusted for identified current or anticipated future trends as appropriate. Actual warranty claim costs could differ from these estimates. For the three months ended September 30, 2021 and 2020 warranty expense included in cost of revenue was $6,011 and $49, respectively. Warranty expense included in cost of revenue for the nine months ended September 30, 2021 and 2020, was $6,399 and $274, respectively. As of September 30, 2021 and December 31, 2020, the Company’s warranty allowance was $5,913 and $3,336, respectively. During the year ended December 31, 2020, the Company identified a deficiency with batteries contained in certain hardware sold and has included the expected cost of repair and removal for these batteries in its warranty allowance. During the three months ended September 30, 2021, the Company identified additional deficient batteries, and while the number of deficient batteries is less than one per cent of the total number of all batteries deployed, the Company has elected to replace all of these batteries acquired from one supplier from previously deployed hardware devices. The result of this decision to replace all of the batteries acquired from one supplier increased the Company’s provision for warranty allowance by $5,700. As of September 30, 2021 and December 31, 2020, $5,589 and $3,166, respectively, is included in the Company’s warranty allowance related to the remaining cost of replacement for this identified battery deficiency.
Convertible Preferred Stock	Convertible Preferred Stock The Company assessed the provisions of Legacy SmartRent’s convertible preferred stock including redemption rights, dividends and voting rights to determine the appropriate classification. The Company determined that Legacy SmartRent’s shares of convertible preferred stock are appropriately classified as mezzanine equity because they were contingently redeemable into cash upon the occurrence of an event not solely within Legacy SmartRent’s control. When it is probable that a convertible preferred share will become redeemable, adjustments are recorded to adjust the carrying values. No such adjustments have been recorded during the nine months ended September 30, 2021 or year ended December 31, 2020. As a result of the Business Combination, each share of Legacy SmartRent convertible preferred stock and common stock was converted into the right to receive approximately 4.8846 shares of the Company’s Common Stock. Refer to Note 7, Convertible Preferred Stock and Equity .
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities subject to on-going fair value measurement are categorized and disclosed into one of three categories depending on observable or unobservable inputs employed in the measurement. These two types of inputs have created the following fair value hierarchy. Level 1: Quoted prices in active markets that are accessible at the measurement date for assets and liabilities. Level 2: Observable prices that are based on inputs not quoted in active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. This hierarchy requires the Company to minimize the use of unobservable inputs and to use observable market data, if available, when determining fair value. The Company recognizes transfers between levels of the hierarchy based on the fair values of the respective financial measurements at the end of the reporting period in which the transfer occurred. There were no transfers between levels of the fair value hierarchy during the nine months ended September 30, 2021 or year ended December 31, 2020, respectively. The carrying amounts of the Company’s accounts receivable, accounts payable and accrued and other liabilities approximate their fair values due to their short maturities.
Revenue Recognition	Revenue Recognition The Company derives its revenue primarily from sales of systems that consist of hardware devices, professional installation services and hosted services to assist property owners and property managers with visibility and control over assets, while providing all-in-one home control offerings for residents The Company may enter into contracts that may contain multiple distinct performance obligations. The transaction price for a typical arrangement includes the price for the smart device hardware, installation services, a hardware hub device, and a subscription for use of our proprietary software. The subscription is for the hub device only and there is no support or ongoing subscription for other smart device hardware. The Company considers the hardware, installation services and the combination of the hardware hub device and proprietary software (the “hosted services”) to be separate performance obligations. The hardware hub device and the subscription are not sold separately. The hardware performance obligation includes the delivery of hardware, the installation services performance obligation includes the services to install the hardware and the hosted services performance obligation allows the customer access to software during the contracted-use term when the promised service is transferred to the customer. The Company partners with several manufactures to offer a range of compatible hardware products for its customers. The Company maintains control of the hardware purchased from manufacturers prior to it being transferred to the customer. The Company has discretion in establishing the price the customer will pay for the good or service. Consequently, the Company is primarily responsible for fulfilling the promise to provide the product and the Company is considered the principal in these arrangements. For each performance obligation identified, the Company estimates the standalone selling price, which represents the price at which the Company would sell the good or service separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price, considering available information such as market conditions, review of historical pricing data, and internal pricing guidelines related to the performance obligations. The Company then allocates the transaction price among those obligations based on the estimation of the standalone selling price. Payments are received by the Company by credit card, check or automated clearing house (“ACH”) payments and payment terms are determined by individual contracts and generally range from due upon receipt to net 30 days. Taxes collected from customers and remitted to governmental authorities are not included in reported revenue. Payments received from customers in advance of revenue recognition are reported as deferred revenue. The Company applies the practical expedient that allows for inclusion of the future auto-renewals in the initial measurement of the transaction price. The Company only applies these steps when it is probable that it will collect the consideration to which it is entitled in exchange for the goods or services it transfers to a customer. Timing of Revenue Recognition is as follows. • Hardware Revenue Hardware revenue includes the smart home devices which connect to the hardware hub device which is separately discussed in Hosted Services Revenue below. The Company’s performance obligation for hardware revenue is considered satisfied, and revenue is recognized, at a point in time when the hardware device is shipped to the customer. The Company generally provides a one-year • Professional Services Revenue Professional services consist of installations, do not result in significant customization of the product and are generally performed from two to four weeks in duration. Installations can be performed by the Company, contracted out to a third-party or the customer can perform the installation themselves. The Company’s professional services contracts are generally arranged on a fixed price basis and revenue is recognized over time as installations are completed. • Hosted Services Revenue Hosted services include recurring monthly subscription revenue generated from fees that provide customers access to one or more of the Company’s software applications including access controls, asset monitoring and related services. These arrangements have contractual terms typically ranging from one-month to seven-years The Company also sells the hardware hub device, which only functions with the subscription to the Company’s proprietary software applications and related hosting services and is sold only on an integrated basis. The Company considers the hub device and hosting services subscription a single performance obligation and therefore defers the recognition of revenue for the hub devices. The estimated average in-service life of the hub device is four years. When a hub device is included in a contract that does not require a long-term service commitment, the customer obtains a material right to renew the service because purchasing a new device is not required upon renewal. If a contract contains a material right, proceeds are allocated to the material right and recognized over the period of benefit, which is generally four years.
Cost of Revenue	Cost of Revenue Cost of revenue consists primarily of direct costs of products and services together with the indirect cost of customer care and support over the life of the service arrangement. • Hardware Cost of hardware revenue consists primarily of direct costs of proprietary products, hardware devices, supplies purchased from third-party providers, shipping costs, indirect costs related to warehouse facilities (including depreciation and amortization of capitalized assets and right-of-use assets), infrastructure costs, personnel-related costs associated with the procurement and distribution of products and warranty expenses together with the indirect cost of customer care and support. • Professional Services Cost of professional services revenue consists primarily of direct costs related to personnel-related expenses for installation and supervision of installation services, general contractor expenses and travel expenses associated with the installation of products and indirect costs that are also primarily personnel-related expenses in connection with training of and ongoing support for customers and residents. • Hosted Services Cost of hosted services revenue consists primarily of the amortization of the direct costs of the hardware hub device consistent with the revenue recognition period noted above in Hosted Services Revenue and infrastructure costs associated with providing software applications together with the indirect cost of customer care and support over the life of the service arrangement.
Deferred Cost of Revenue	Deferred Cost of Revenue Deferred cost of revenue includes all direct costs included in cost of revenue for hosted services and the hub device that have been deferred to future periods.
Research and Development	Research and Development These expenses relate to the research and development of new products and services and enhancements to the Company’s existing product offerings. Costs related to preliminary project activities and post-implementation activities are expensed as incurred.
Advertising	Advertising Advertising costs are expensed as incurred and recorded as a component of sales and marketing expense. The Company incurred $235 and $164 of advertising expenses for the three months ended September 30, 2021 and 2020, respectively, and incurred $635 and $528 of advertising expenses during the nine months ended September 30, 2021 and 2020 respectively.
Segments	Segments The Company has one operating segment and one reportable segment as its chief operating decision maker, who is its Chief Executive Officer, reviews financial information on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s principal operations are in the United States and the Company’s long-lived assets are located primarily within the United States. The Company held $5,832 and $7,941 of assets outside the United States at September 30, 2021 and December 31, 2020, respectively.
Recent Accounting Guidance Not Yet Adopted	Recent Accounting Guidance Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments—Credit Losses (Topic 326)” In December 2019, the FASB issued ASU No. 2019-12, “ Income Taxes (Topic 740)”

Description of Business (Tables

Description of Business (Tables)	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Reverse Recapitalization	The following table reconciles the elements of the Business Combination to the consolidated statements of cash flows and the consolidated statement of changes in stockholders’ equity for the period ended September 30, 2021: Cash - Trust and cash, net of redemptions $ 345,628 Cash - PIPE Investment 155,000 Gross proceeds from Business Combination 500,628 Less: transaction costs and advisory fees, paid (55,644 ) Net proceeds from Business Combination 444,984 Less: transaction costs and advisory fees, accrued (215 ) Reverse recapitalization, net of transaction costs $ 444,769

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Revenue as a Percentage of Total Revenue and Net Accounts Receivable as a Percentage of Total Net Accounts Receivable for Each Significant Customer	Revenue as a percentage of total revenue and net accounts receivable as a percentage of total net accounts receivable for each significant customer follows. Accounts Receivable Revenue As of For the three months ended September 30, For the nine months ended September 30, September 30, 2021 December 31, 2020 2021 2020 2021 2020 Customer A * 30% 18% 48% 16% 31% Customer B * 30% * 18% * * Customer C * * * 10% * 20% Customer D * * * 13% * * Customer E * * 17% * * * Customer F 14% * * * * * * Total less than 10% for the respective period

Fair Value Measurements and F_2

Fair Value Measurements and Fair Value of Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Carrying Values and Fair Values of Financial Instruments	The following tables display the carrying values and fair values of financial instruments. As of September 30, 2021 As of December 31, 2020 Assets on the Consolidated Balance Sheets Carrying Value Unrealized Losses Fair Value Carrying Value Unrealized Losses Fair Value Cash Level 1 $ 437,494 $ - $ 437,494 32,723 $ - $ 32,723 Money market funds Level 1 35,008 - 35,008 5,895 - 5,895 Total $ 472,502 $ - $ 472,502 $ 38,618 $ - $ 38,618 As of September 30, 2021 As of December 31, 2020 Liabilities on the Consolidated Balance Sheets Carrying Value ( 1) Fair Value Carrying Value ( 1) Fair Value Term loan Level 2 $ 3,611 $ 3,636 $ 4,820 $ 4,913 Total liabilities $ 3,611 $ 3,636 $ 4,820 $ 4,913 (1) The carrying values are shown exclusive of discounts and other offsets.

Revenue and Deferred Revenue (T

Revenue and Deferred Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenue	In the following tables, revenue is disaggregated by primary geographical market and type of revenue. For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Revenue by geography United States $ 34,247 $ 15,568 $ 74,108 $ 36,355 International 885 1,020 1,861 2,578 Total revenue $ 35,132 $ 16,588 $ 75,969 $ 38,933 For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Revenue by type Hardware $ 22,025 $ 9,782 $ 48,452 $ 23,956 Professional services 8,180 4,717 15,345 9,558 Hosted services 4,927 2,089 12,172 5,419 Total revenue $ 35,132 $ 16,588 $ 75,969 $ 38,933
Summary of Deferred Revenue, by Arrangement, Disclosure	A summary of the change in deferred revenue is as follows. For the nine months ended September 30, 2021 2020 Deferred revenue balance as of January 1 $ 53,501 $ 19,083 Revenue recognized from balance of deferred revenue at the beginning of the period (3,992 ) (1,349 ) Revenue deferred during the period 18,420 12,904 Revenue recognized from revenue originated and deferred during the period (3,922 ) (2,851 ) Deferred revenue balance as of March 31 64,007 27,787 Revenue recognized from balance of deferred revenue at the beginning of the period (3,270 ) (1,483 ) Revenue deferred during the period 17,346 6,469 Revenue recognized from revenue originated and deferred during the period (3,578 ) (860 ) Deferred revenue balance as of June 30 74,505 31,913 Revenue recognized from balance of deferred revenue at the beginning of the period (6,185 ) (1,217 ) Revenue deferred during the period 19,001 12,506 Revenue recognized from revenue originated and deferred during the period (2,640 ) (776 ) Deferred revenue balance as of September 30 $ 84,681 $ 42,426

Other Financial Statement Inf_2

Other Financial Statement Information (Tables)	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Summary of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following. September 30, 2021 December 31, 2020 Prepaid expenses $ 17,922 $ 3,276 Other current assets 5,010 564 Total prepaid expenses and other current assets $ 22,932 $ 3,840
Summary of Property and Equipment, Net	Property and equipment, net consisted of the following. September 30, 2021 December 31, 2020 Computer hardware and software $ 1,580 $ 868 Furniture and fixtures 162 109 Leasehold improvements 139 103 Warehouse and other equipment 461 124 Property and equipment, gross 2,342 1,204 Less: Accumulated depreciation and amortization (652 ) (357 ) Total property and equipment, net $ 1,690 $ 847
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following. September 30, 2021 December 31, 2020 Warranty allowance $ 5,913 $ 3,336 Accrued compensation costs 3,860 3,234 Accrued expenses 2,417 764 Sales tax payable 997 1,282 Lease liabilities, current 505 485 Other 282 454 Total accrued expenses and other current liabilities $ 13,974 $ 9,555

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Outstanding Principal Amounts under Credit Facility	The following table sets forth a summary of the outstanding principal amounts under the Credit Facility as of September 30, 2021 and December 31, 2020. Maturity Date Interest Rate ( 1) September 30, 2021 December 31, 2020 Term loan facility November 2023 6.00% $ 3,611 $ 4,861 Debt discount, net (29 ) (41 ) Term loan facility - carrying value $ 3,582 $ 4,820 (1) Interest rates for the Term Loan Facility and the Revolving Facility are based upon the prime rate as published by the Wall Street Journal (Prime Rate) plus an applicable margin, subject to floors as described below. As of September 30, 2021 and December 31, 2020, the applicable margins for the Revolving Facility and Term Loan Facility was 0.25% and the Prime Rate as of September 30, 2021 and December 31, 2020 was 3.25%. In accordance with the Credit Facility, the applicable interest rates are as stated above.
Summary of Contractual Maturities of Term Loan Facility	The following table summarizes the contractual maturities of the Company’s term loan facility which comprises all of the Company’s outstanding debt as of September 30, 2021. Year Term Loan Facility Remainder of 2021 $ 417 2022 1,667 2023 1,528 2024 and thereafter - Total 3,611 Less: unamortized debt discount (29 ) Total carrying value $ 3,582

Convertible Preferred Stock a_2

Convertible Preferred Stock and Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Summary of Temporary Equity	The original issuance price per share of Legacy SmartRent’s authorized, issued and outstanding preferred stock follows as of August 24, 2021. Issue Date Series Shares Authorized Shares Issued and Outstanding Original Issue Price per Share Liquidation Preference March 2018 Seed 4,707 4,707 $ 1.0000 $ 4,707 September 2018 A 4,541 4,541 $ 1.1011 5,000 May 2019 B-1 508 508 $ 4.9767 2,527 May 2019 B 5,425 5,425 $ 6.2209 33,750 March 2020 C-1 761 761 $ 10.0223 7,624 March - May 2020; March 2021 C 8,874 8,874 $ 10.4236 92,468 24,816 24,816 $ 146,076 The original issuance price per share of the Company’s authorized, issued and outstanding preferred stock follows as of December 31, 2020. Issue Date Series Shares Authorized Shares Issued and Outstanding Original Issue Price per Share Liquidation Preference March 2018 Seed 4,707 4,707 $ 1.0000 $ 4,707 September 2018 A 4,541 4,541 $ 1.1011 5,000 May 2019 B-1 508 508 $ 4.9767 2,527 May 2019 B 5,425 5,425 $ 6.2209 33,750 March 2020 C-1 761 761 $ 10.0223 7,624 March - May 2020 C 5,756 5,516 $ 10.4236 57,500 21,698 21,458 $ 111,108

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Plan Activity	Summaries of the Company’s 2018 Stock Plan activity for the nine months ended September 30, 2021 is presented below. Options Outstanding Number of Options Weighted- Average Exercise Price ($ per share) Weighted Average Remaining Contractual Life (years) Aggregate Intrinsic Value December 31, 2020 2,255 $ 2.49 8.96 $ - Retroactive application of Exchange Ratio 8,202 December 31, 2020, as adjusted 10,457 Granted - Cancelled - September 30, 2021 10,457 $ 0.51 8.21 $ -
Summary of Stock-based Compensation Expense	Stock-Based Compensation The Company recorded stock-based compensation expense as follows. For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Research and development $ 1,400 $ 64 $ 1,507 $ 192 Sales and marketing 974 21 1,006 64 General and administrative 1,933 356 2,649 1,087 Total $ 4,307 $ 441 $ 5,162 $ 1,343

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Computation of Diluted Net Loss per Share Attributable to Common Stockholders	The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because inclusion of the shares on an as-converted basis would have been anti-dilutive. For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 Convertible preferred stock - 104,821 - 104,821 Common stock options and restricted stock units 25,994 11,019 25,994 11,019 Common stock warrants 4,601 161 4,601 161 Shares subject to repurchase 2,748 4,123 2,748 4,123 Total 33,344 120,123 33,344 120,123

Zenith Acquisition (Tables)

Zenith Acquisition (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Schedule of total purchase consideration and the fair values and liabilities at the acquisition	The total purchase consideration and the fair values and liabilities at the acquisition date were as follows. Consideration Cash Consideration $ 6,909 Promissory Note Consideration 974 Stock Consideration 813 Settlement of Preexisting Relationships 1,158 Fair Value of Total Consideration Transferred 9,854 Recognized amounts of identifiable assets acquired and liabilities assumed Cash $ 4,527 Accounts receivable 518 Inventory 692 Prepaid expenses and other current assets 632 Property and equipment, net 61 Total identifiable assets acquired 6,430 Accounts payable 490 Accrued expenses and other current liabilities 248 Total liabilities assumed 738 Total identifiable net assets 5,692 Goodwill $ 4,162

Description of Business - Addit

Description of Business - Additional Information (Details) $ / shares in Units, $ in Thousands	Aug. 24, 2021USD ($)$ / sharesshares	Nov. 23, 2020Business	Sep. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020$ / sharesshares
Subsidiary Or Equity Method Investee [Line Items]
Condition for future business combination number of businesses minimum | Business		1
Total number of authorized shares of capital stock			550,000,000
Designated common stock, shares authorized			500,000,000	140,595,000
Common stock, par value | $ / shares	$ 0.0001		$ 0.0001	$ 0.0001
Designated preferred stock, shares			50,000,000
Preferred stock, par value | $ / shares			$ 0.0001
Direct and incremental costs incurred | $	$ 55,859
Gross proceeds from business combination and PIPE investment | $			$ 500,628
Offering costs offset amount | $			$ 55,859
Initial Public Offering | Subscription Agreement | Common Stock
Subsidiary Or Equity Method Investee [Line Items]
Issuance of Series C Preferred Stock for cash, net of offering costs (in Shares)	15,500,000
Shares issued, price per share | $ / shares	$ 10
Aggregate purchase price of newly issued shares | $	$ 155,000
Class A Common Stock
Subsidiary Or Equity Method Investee [Line Items]
Common stock, par value | $ / shares	$ 0.0001
Shares issued and each share converted into right to receive shares of common stock	4,884.6000
Common stock shares converted			4,884.6000
Class A Common Stock | FWAA | Initial Public Offering
Subsidiary Or Equity Method Investee [Line Items]
Shares redeemed price per share | $ / shares	$ 10
Aggregate value of stock redeemed | $	$ 2
Class A Common Stock | FWAA | Initial Public Offering | Maximum
Subsidiary Or Equity Method Investee [Line Items]
Redemption of shares, right exercised	1,000
Class B Common Stock | FWAA | Sponsor
Subsidiary Or Equity Method Investee [Line Items]
Common stock shares converted	8,625,000

Description of Business - Rever

Description of Business - Reverse Recapitalization (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Cash - Trust and cash, net of redemptions	$ 345,628
Cash - PIPE Investment	155,000
Gross proceeds from Business Combination	500,628
Less: transaction costs and advisory fees, paid	(55,644)
Net proceeds from Business Combination	444,984
Less: transaction costs and advisory fees, accrued	(215)
Reverse recapitalization, net of transaction costs	$ 444,769

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details)	Aug. 24, 2021USD ($)$ / shares	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Segment$ / sharesshares	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)$ / shares
Accounting Policies [Line Items]
Cash proceeds, net of fees and transaction costs	$ 444,984,000
Proceeds from issuance of common stock	$ 155,000,000
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Goodwill	$ 0	$ 4,162,000		$ 4,162,000		$ 4,162,000
Intangible assets	$ 0
Accounts receivable,Allowance for doubtful accounts		253,000		253,000		$ 131,000
Write-offs of accounts receivable		0	$ 0	$ 0	$ 0
Concentration risk percentage				10.00%		10.00%
Percentage of ownership interest held by limited partners in the investment fund of an investor				23.00%		32.00%
Warranty allowance		5,913,000		$ 5,913,000		$ 3,336,000
Increased provision for warranty allowance		5,700,000
Product warranty accrual related to remaining cost of replacement for identified battery deficiency		5,589,000		$ 5,589,000		3,166,000
Number of days due for payments of credit card, check or automated clearing house				30 days
Warranty period on hardware devices				1 year
Estimated average in service life of hub device				4 years
Advertising expenses		235,000	164,000	$ 635,000	528,000
Number of operating segment | Segment				1
Number of reportable segment | Segment				1
Assets		582,834,000		$ 582,834,000		103,849,000
UNITED STATES
Accounting Policies [Line Items]
Assets		5,832,000		$ 5,832,000		$ 7,941,000
Minimum [Member]
Accounting Policies [Line Items]
Contractual terms for Hosted Services Revenue				1 month
Maximum
Accounting Policies [Line Items]
Contractual terms for Hosted Services Revenue				7 years
Class A Common Stock
Accounting Policies [Line Items]
Common stock, par value | $ / shares	$ 0.0001
Common stock shares converted | shares				4,884.6000
General and Administrative Expenses
Accounting Policies [Line Items]
Provision for doubtful accounts		149,000	0	$ 122,000	0
Cost of Sales
Accounting Policies [Line Items]
Warranty expense		$ 6,011,000	$ 49,000	$ 6,399,000	$ 274,000

Significant Accounting Polici_5

Significant Accounting Policies - Revenue as a Percentage of Total Revenue and Net Accounts Receivable as a Percentage of Total Net Accounts Receivable for Each Significant Customer (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Customer A | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage					30.00%
Customer A | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	18.00%	48.00%	16.00%	31.00%
Customer B | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage					30.00%
Customer B | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage		18.00%
Customer C | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage		10.00%		20.00%
Customer D | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage		13.00%
Customer E | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	17.00%
Customer F | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage			14.00%

Fair Value Measurements and F_3

Fair Value Measurements and Fair Value of Instruments - Summary of Carrying Values and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Carrying Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets on the Consolidated Balance Sheets		$ 472,502	$ 38,618
Liabilities on the Consolidated Balance Sheets	[1]	3,611	4,820
Carrying Value | Cash | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets on the Consolidated Balance Sheets		437,494	32,723
Carrying Value | Money Market Funds | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets on the Consolidated Balance Sheets		35,008	5,895
Carrying Value | Term loan | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities on the Consolidated Balance Sheets	[1]	3,611	4,820
Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets on the Consolidated Balance Sheets		472,502	38,618
Liabilities on the Consolidated Balance Sheets		3,636	4,913
Fair Value | Cash | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets on the Consolidated Balance Sheets		437,494	32,723
Fair Value | Money Market Funds | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets on the Consolidated Balance Sheets		35,008	5,895
Fair Value | Term loan | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities on the Consolidated Balance Sheets		$ 3,636	$ 4,913
[1]	The carrying values are shown exclusive of discounts and other offsets.

Fair Value Measurements and F_4

Fair Value Measurements and Fair Value of Instruments - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Line Items]
Effective interest rate percentage of input used to develop fair value measurements	5.00%	5.00%
Revolving Credit Facility
Fair Value Disclosures [Line Items]
Outstanding line of credit	$ 0	$ 0

Revenue and Deferred Revenue -

Revenue and Deferred Revenue - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 35,132	$ 16,588	$ 75,969	$ 38,933
United States
Disaggregation of Revenue [Line Items]
Total revenue	34,247	15,568	74,108	36,355
International
Disaggregation of Revenue [Line Items]
Total revenue	885	1,020	1,861	2,578
Hardware
Disaggregation of Revenue [Line Items]
Total revenue	22,025	9,782	48,452	23,956
Professional Services
Disaggregation of Revenue [Line Items]
Total revenue	8,180	4,717	15,345	9,558
Hosted Services
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,927	$ 2,089	$ 12,172	$ 5,419

Revenue and Deferred Revenue _2

Revenue and Deferred Revenue - Summary of Deferred Revenue, by Arrangement, Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Deferred revenue, beginning balance	$ 74,505	$ 64,007	$ 53,501	$ 31,913	$ 27,787	$ 19,083
Revenue recognized from balance of deferred revenue at the beginning of the period	(6,185)	(3,270)	(3,992)	(1,217)	(1,483)	(1,349)
Revenue deferred during the period	19,001	17,346	18,420	12,506	6,469	12,904
Revenue recognized from revenue originated and deferred during the period	(2,640)	(3,578)	(3,922)	(776)	(860)	(2,851)
Deferred revenue, ending balance	$ 84,681	$ 74,505	$ 64,007	$ 42,426	$ 31,913	$ 27,787

Revenue and Deferred Revenue _3

Revenue and Deferred Revenue - Additional Information (Details)	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue from Contract with Customer [Line Items]
Percentage of revenue expect to recognize to its total deferred revenue	45.00%
Revenue expect to recognize to its total deferred revenue, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue from Contract with Customer [Line Items]
Percentage of revenue expect to recognize to its total deferred revenue	31.00%
Revenue expect to recognize to its total deferred revenue, period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue from Contract with Customer [Line Items]
Percentage of revenue expect to recognize to its total deferred revenue	23.00%
Revenue expect to recognize to its total deferred revenue, period	24 months

Other Financial Statement Inf_3

Other Financial Statement Information - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Prepaid Expense And Other Assets Current [Abstract]
Prepaid expenses	$ 17,922	$ 3,276
Other current assets	5,010	564
Total prepaid expenses and other current assets	$ 22,932	$ 3,840

Other Financial Statement Inf_4

Other Financial Statement Information - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Loan receivable		$ 2,000
Repayment of loan receivable	$ 0

Other Financial Statement Inf_5

Other Financial Statement Information - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property and equipment, gross	$ 2,342	$ 1,204
Less: Accumulated depreciation and amortization	(652)	(357)
Total property and equipment, net	1,690	847
Computer Hardware and Software
Property and equipment, gross	1,580	868
Furniture and Fixtures
Property and equipment, gross	162	109
Leasehold Improvements
Property and equipment, gross	139	103
Warehouse and Other Equipment
Property and equipment, gross	$ 461	$ 124

Other Financial Statement Inf_6

Other Financial Statement Information - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued Liabilities And Other Liabilities [Abstract]
Warranty allowance	$ 5,913	$ 3,336
Accrued compensation costs	3,860	3,234
Accrued expenses	2,417	764
Sales tax payable	997	1,282
Lease liabilities, current	505	485
Other	282	454
Total accrued expenses and other current liabilities	$ 13,974	$ 9,555

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended		9 Months Ended
	Mar. 31, 2020	Aug. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 07, 2021	Dec. 31, 2020	Feb. 29, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity		$ 15,000,000
Credit facility, frequency of payment and payment terms, description			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.
Common stock, issued			193,864,000		147,911,000	10,376,000
Credit facility, covenant terms, description			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
Gain (Loss) on extinguishment of debt				$ (164,000)
February Two Thousand and Nineteen Convertible Note
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage							5.00%
Debt instrument principal amount							$ 50,000
December Two Thousand and Nineteen Convertible Note
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage								5.00%
Debt instrument principal amount								$ 7,500,000
Conversion of December Two Thousand and Nineteen Convertible Note to Series C One Preferred Stock
Debt Instrument [Line Items]
Debt Instrument convertible conversion price	$ 10.02
Number of shares issued on conversion of debt	756,000
Gain (Loss) on extinguishment of debt				$ 164,000
Conversion of February Two Thousand and Nineteen Convertible Note to Series C One Preferred Stock
Debt Instrument [Line Items]
Debt Instrument convertible conversion price	$ 10.01
Number of shares issued on conversion of debt	5,000
Convertible Debt
Debt Instrument [Line Items]
Debt instrument conversion expenses			$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity		$ 10,000,000
Line of credit facility expiration month year		2021-08
Line of credit facility expiration month year, extended		2021-11
Line of credit facility unused capacity commitment fee percentage		0.125%
Revolving Credit Facility | Depositor
Debt Instrument [Line Items]
Debt Instrument, collateral amount		$ 1
Debt instrument, interest rate, stated percentage		5.50%
Line of credit facility, interest rate description			one quarter of one percent (0.25%) above the Prime Rate, or (y) five and one half of one percent (5.50%)
Revolving Credit Facility | Depositor | Prime Rate
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate		0.25%
Revolving Credit Facility | Non Depositor
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		6.00%
Line of credit facility, interest rate description			three quarters of one percent (0.75%) above the Prime Rate, or (y) six percent (6.00%)
Revolving Credit Facility | Non Depositor | Prime Rate
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate		0.75%
Revolving Credit Facility | Sublimit
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity			$ 10,000,000			$ 10,000,000
Percentage of multiplying eligible account receivable		85.00%
Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity		$ 5,000,000
Line of credit facility expiration month year		2023-11	2023-11
Line of credit facility first required payment month year		2020-11
Debt instrument, interest rate, stated percentage		6.00%
Line of credit facility, interest rate description			(A) one percent (1.00%) above the Prime Rate and (B) six percent (6.00%)
Term Loan Facility | Prime Rate
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate		1.00%

Debt - Summary of Outstanding P

Debt - Summary of Outstanding Principal Amounts under Credit Facility (Details) - Term Loan Facility - USD ($) $ in Thousands		1 Months Ended	9 Months Ended
		Aug. 31, 2019	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Term loan facility			$ 3,611	$ 4,861
Debt discount, net			(29)	(41)
Term loan facility - carrying value			$ 3,582	$ 4,820
Maturity Date		2023-11	2023-11
Interest Rate	[1]		6.00%
[1]	Interest rates for the Term Loan Facility and the Revolving Facility are based upon the prime rate as published by the Wall Street Journal (Prime Rate) plus an applicable margin, subject to floors as described below. As of September 30, 2021 and December 31, 2020, the applicable margins for the Revolving Facility and Term Loan Facility was 0.25% and the Prime Rate as of September 30, 2021 and December 31, 2020 was 3.25%. In accordance with the Credit Facility, the applicable interest rates are as stated above.

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Principal Amounts under Credit Facility (Parenthetical) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Prime rate	3.25%	3.25%
Revolving Facility and Term Loan Facility | Prime Rate
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	0.25%	0.25%

Debt - Summary of Contractual M

Debt - Summary of Contractual Maturities of Term Loan Facility (Details) - Term Loan Facility - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Remainder of 2021	$ 417
2022	1,667
2023	1,528
Total	3,611	$ 4,861
Less: unamortized debt discount	(29)	(41)
Term loan facility - carrying value	$ 3,582	$ 4,820

Convertible Preferred Stock a_3

Convertible Preferred Stock and Equity - Additional Information (Details)	Aug. 24, 2021$ / sharesshares	Apr. 30, 2020$ / sharesshares	Aug. 31, 2019$ / sharesshares	Mar. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018shares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)Note$ / sharesshares	Sep. 07, 2021shares	Mar. 31, 2021shares
Temporary Equity And Permanent Equity [Line Items]
Temporary equity shares authorized						50,000,000		50,000,000		105,995,000
Temporary equity par or stated value per share | $ / shares						$ 0.0001		$ 0.0001		$ 0.0001
Temporary equity, shares outstanding						0		0		104,822,000
Shares converted into common stock upon business combination	4,865,000
Proceeds from redeemable convertible preferred stock | $								$ 34,793,000		$ 57,439,000
Number of subordinated convertible notes redeemed | Note										2
Allocated share based compensation expense | $						$ 4,307,000	$ 441,000	$ 5,162,000	$ 1,343,000
Common stock shares outstanding						193,864,000		193,864,000		10,376,000
Common stock, par value | $ / shares	$ 0.0001					$ 0.0001		$ 0.0001		$ 0.0001
Sales and marketing | $						$ 4,948,000	1,328,000	$ 9,094,000	4,048,000
Warrant expenses recognized | $						$ 0		$ 0
Common stock, issued						193,864,000		193,864,000		10,376,000	147,911,000
Chief Executive Officer
Temporary Equity And Permanent Equity [Line Items]
Common stock shares outstanding										996,000
Stock Restriction Agreement
Temporary Equity And Permanent Equity [Line Items]
Member interests exchanged for common stock shares					1,800,000
Members interest exchanged for redeemable convertible preferred stock					4,252,000
Stock Restriction Agreement | Chief Executive Officer
Temporary Equity And Permanent Equity [Line Items]
Common stock shares subject to restriction					1,080,000
Share based compensation arrangement vesting period					30 months
Share based payment arrangement non vested award other than options unrecognized compensation | $										$ 0
Allocated share based compensation expense | $							108,000		324,000
Series C Redeemable Convertible Preferred Stock
Temporary Equity And Permanent Equity [Line Items]
Temporary equity stock shares issued during the period shares								3,358,000		5,516,000
Gross proceeds from the issuance of redeemable convertible preferred stock | $								$ 35,000,000		$ 57,500,000
Payment of stock issuance costs | $								$ 207,000		$ 61,000
Series C One Redeemable Convertible Preferred Stock
Temporary Equity And Permanent Equity [Line Items]
Debt instrument converted number of shares issued										761,000
Preferred Stock
Temporary Equity And Permanent Equity [Line Items]
Temporary equity shares authorized						50,000,000		50,000,000
Temporary equity par or stated value per share | $ / shares						$ 0.0001		$ 0.0001
Temporary equity, par value | $ / shares	$ 0.00001
Shares issued and each share converted into right to receive shares of common stock	4.8846
Preferred stock, conversion basis								1:1 basis
Temporary equity, shares outstanding						24,816,000		24,816,000
Shares converted into common stock upon business combination						121,214,000		121,214,000
Warrant
Temporary Equity And Permanent Equity [Line Items]
Contra revenue | $						$ 64,000		$ 104,000	0
Class of warrant or right expiration period								Feb. 28, 2031
Fully paid and non assessable common stock			33,000
Common stock, par value | $ / shares			$ 2.30	$ 0.01
Sales and marketing | $							160,000		342,000
Convertible note | $				$ 2,500,000
Common stock, issued												503,000
Warrant | Maximum
Temporary Equity And Permanent Equity [Line Items]
Fully paid and non assessable common stock				503,000
Warrant | Tranche Two
Temporary Equity And Permanent Equity [Line Items]
Measurement period								Apr. 30, 2023
Fully paid and non assessable common stock		384,000
Common stock, par value | $ / shares		$ 0.01
Sales and marketing | $						$ 184,000		$ 543,000
Warrant expenses recognized | $							$ 0		$ 0
Warrants converted to warrants to purchase shares of common stock upon business combination	1,876,000

Convertible Preferred Stock a_4

Convertible Preferred Stock and Equity - Summary of Temporary Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 24, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Shares Authorized	24,816,000	21,698,000
Shares Issued	24,816,000	21,458,000
Shares Outstanding	24,816,000	21,458,000
Liquidation Preference	$ 146,076	$ 111,108
March 2018 | Seed Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	4,707,000	4,707,000
Shares Issued	4,707,000	4,707,000
Shares Outstanding	4,707,000	4,707,000
Original Issue Price per Share	$ 1	$ 1
Liquidation Preference	$ 4,707	$ 4,707
September 2018 | Series A Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	4,541,000	4,541,000
Shares Issued	4,541,000	4,541,000
Shares Outstanding	4,541,000	4,541,000
Original Issue Price per Share	$ 1.1011	$ 1.1011
Liquidation Preference	$ 5,000	$ 5,000
May 2019 | Series B One Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	508,000	508,000
Shares Issued	508,000	508,000
Shares Outstanding	508,000	508,000
Original Issue Price per Share	$ 4.9767	$ 4.9767
Liquidation Preference	$ 2,527	$ 2,527
May 2019 | Series B Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	5,425,000	5,425,000
Shares Issued	5,425,000	5,425,000
Shares Outstanding	5,425,000	5,425,000
Original Issue Price per Share	$ 6.2209	$ 6.2209
Liquidation Preference	$ 33,750	$ 33,750
March 2020 | Series C One Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	761,000	761,000
Shares Issued	761,000	761,000
Shares Outstanding	761,000	761,000
Original Issue Price per Share	$ 10.0223	$ 10.0223
Liquidation Preference	$ 7,624	$ 7,624
March - May 2020, March 2021 | Series C Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Shares Authorized	8,874,000	5,756,000
Shares Issued	8,874,000	5,516,000
Shares Outstanding	8,874,000	5,516,000
Original Issue Price per Share	$ 10.4236	$ 10.4236
Liquidation Preference	$ 92,468	$ 57,500

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	Aug. 24, 2021	Feb. 29, 2020	Aug. 31, 2021	Apr. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share based compensation					$ 4,307,000	$ 441,000	$ 5,162,000	$ 1,343,000
Shares converted into common stock upon business combination	4,865,000
Common stock, authorized					500,000,000		500,000,000		140,595,000
Vesting of Outstanding Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share based compensation					$ 227,000	128,000	$ 680,000	518,000
General and Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share based compensation					1,933,000	356,000	2,649,000	1,087,000
General and Administrative Expense | Vesting of Common Stock on Conversion of Redeemable Convertible Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share based compensation						108,000	0	324,000
Zenith
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement vesting period		3 years
Allocated share based compensation					205,000	205,000	607,000	502,000
Shares converted into common stock upon business combination	4,123,000
Number of Options, Granted	844,000	844,000
Zenith | General and Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share based compensation					205,000	$ 204,000	$ 607,000	$ 502,000
Number of Options, Granted							844,000
2018 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based arrangement term							10 years
Share based compensation arrangement vesting period							4 years
Amended 2018 Stock Plan | Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement vesting period				4 years
Share based compensation by share based arrangement vesting period				1,533,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value				$ 21.55
Allocated share based compensation			$ 2,827,000	$ 33,033,000	$ 843,000
Shares converted into common stock upon business combination	7,489,000
Conversion price per share fair value	$ 4.41
2021 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, authorized					15,500		15,500
2021 Equity Incentive Plan | Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement vesting period			4 years
Share based compensation by share based arrangement vesting period			324,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value			$ 12.10

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Plan Activity (Details) - 2018 Stock Plan - $ / shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Beginning Balance	2,255
Number of options Retroactive application of Exchange Ratio	8,202
Number of options, as adjusted	10,457
Number of Options, Ending Balance	10,457	2,255
Weighted-Average Exercise Price, Beginning Balance	$ 2.49
Weighted-Average Exercise Price, Ending Balance	$ 0.51	$ 2.49
Weighted Average Remaining Contractual Life (Years), Balance	8 years 2 months 15 days	8 years 11 months 15 days

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 4,307	$ 441	$ 5,162	$ 1,343
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	1,400	64	1,507	192
Sales and Marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	974	21	1,006	64
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 1,933	$ 356	$ 2,649	$ 1,087

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate, percent	(0.28%)	(0.65%)
U.S. statutory rate	21.00%
Deferred tax assets, net	$ 30,612

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Computation of Diluted Net Loss per Share Attributable to Common Stockholders (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,344	120,123	33,344	120,123
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		104,821		104,821
Common Stock Options and Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	25,994	11,019	25,994	11,019
Warrant
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,601	161	4,601	161
Shares Subject to Repurchase
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,748	4,123	2,748	4,123

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Sales and Marketing
Related Party Transaction [Line Items]
Related party transaction, selling, general and administrative expenses from transactions with related party	$ 184	$ 160	$ 543	$ 342
Research and Development
Related Party Transaction [Line Items]
Professional fees	$ 45	$ 0	$ 83	$ 24

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Sales and excise tax payable	$ 997,000	$ 1,282,000
Unrecognized tax benefits, income tax penalties expense	0	145,000
Long-term purchase commitment, Amount	$ 22,856,000	$ 12,601,000

Zenith Acquisition - Additional

Zenith Acquisition - Additional Information (Details) - USD ($) shares in Thousands	Aug. 24, 2021	Feb. 29, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 0		$ 4,162,000			$ 4,162,000		$ 4,162,000
Share-based payment arrangement, expense			4,307,000	$ 441,000		5,162,000	$ 1,343,000
Shares converted into common stock upon business combination	4,865
Zenith
Business Acquisition [Line Items]
Cash consideration		$ 6,909,000
Promissory note consideration		974,000
Stock consideration		813,000
Settlement of preexisting relationships		1,158,000
Business combination, consideration transferred		9,854,000
Goodwill		$ 4,162,000
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	844	844
Share-based compensation arrangement by share-based payment award, award vesting period		3 years
Business combination, liabilities arising from contingencies, amount recognized		$ 3,353,000
Share-based payment arrangement, expense			$ 205,000	205,000		$ 607,000	502,000
Shares converted into common stock upon business combination	4,123
Business combination, acquisition related costs				0	$ 21,000
Business acquisition, pro forma revenue				1,020,000			2,578,000
Business acquisition, pro forma net income (loss)				$ 133,000			$ 478,000

Zenith Acquisition - Schedule o

Zenith Acquisition - Schedule of Total Purchase Consideration and the Fair Values and Liabilities at the Acquisition (Details) - USD ($)	Feb. 29, 2020	Sep. 30, 2021	Aug. 24, 2021	Dec. 31, 2020
Recognized amounts of identifiable assets acquired and liabilities assumed
Goodwill		$ 4,162,000	$ 0	$ 4,162,000
Zenith
Consideration
Cash Consideration	$ 6,909,000
Promissory Note Consideration	974,000
Stock Consideration	813,000
Settlement of Preexisting Relationships	1,158,000
Fair Value of Total Consideration Transferred	9,854,000
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash	4,527,000
Accounts receivable	518,000
Inventory	692,000
Prepaid expenses and other current assets	632,000
Property and equipment, net	61,000
Total identifiable assets acquired	6,430,000
Accounts payable	490,000
Accrued expenses and other current liabilities	248,000
Total liabilities assumed	738,000
Total identifiable net assets	5,692,000
Goodwill	$ 4,162,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - $ / shares shares in Thousands	Nov. 01, 2021	Oct. 01, 2021	Aug. 31, 2021	Aug. 31, 2019
Restricted Stock Units | 2021 Equity Incentive Plan
Subsequent Event [Line Items]
Share-based compensation arrangement granted			324
Share-based compensation arrangement, fair value			$ 12.10
Share based compensation arrangement vesting period			4 years
Subsequent Events | Restricted Stock Units | 2021 Equity Incentive Plan
Subsequent Event [Line Items]
Share-based compensation arrangement granted	72
Share-based compensation arrangement, fair value	$ 12.10
Share based compensation arrangement vesting period	4 years
Revolving Credit Facility
Subsequent Event [Line Items]
Extended maturity date				2021-11
Revolving Credit Facility | Subsequent Events
Subsequent Event [Line Items]
Extended maturity date		2021-12