Benzinga | Jun 25, 2021 08:06AM EDT

Fifth Wall Acquisition Corp. I SPAC Merger Partner SmartRent Q1 Revenues $19.2M, Up 16% YoY

* New Units Deployed in the first quarter were 32,483, up 81% year-over-year

* Total Committed Units of over 600,000 as of end of March 2021

* Total first quarter revenue of $19.2 million, up 16% year-over-year

* Deferred revenue of $64.0 million as of March 31, 2021, up 134% year-over-year

* Launched an exclusive integration with map visualization technology leader Engrain, as well as new product features including Guest Parking, Hubless Credentials and Salto Locks

* Business combination with Fifth Wall Acquisition Corp. I expected to close in the third quarter of 2021

SCOTTSDALE, Ariz., June 25, 2021 /PRNewswire/ -- SmartRent.com, Inc. ("SmartRent" or "the Company"), a leading provider of smart home and smart building automation for property owners, managers, developers, homebuilders and residents, which recently announced it will go public through a merger with special purpose acquisition company ("SPAC") Fifth Wall Acquisition Corp. I (NASDAQ:FWAA) ("FWAA"), today reported financial results for the first quarter ended March 31, 2021.