SmartRent, Inc. (NYSE:SMRT) Q3 2023 Earnings Call Transcript

And so the thermostat, if you think about the margin on that will be higher. So we see gross margin pick up in hardware from installing the Hub Plus. And more importantly, I think it really is a combination of years of R&D that we’ve been working on to build this from the ground up, bring it to market. There’s a lot of strategic importance around it, just around connectivity and where it’s placed, and less hardware, and less time to install, and I’m very excited by that.

Hiroshi Okamoto: Yes. Just to add to that, I think we’re introducing it right now. We won’t see a meaningful improvement in gross margin in Q4, but really a driver for 2024.

Q – Tom White: Thanks.

Lucas Haldeman: Thanks, Tom.

Operator: Looks like, we don’t have any incoming questions, as of right now. I’d now like to hand back over to the management for their final remarks.

Lucas Haldeman: Thank you, operator. Thank you all for joining. I appreciate your support and taking time to listen, and look forward to speaking with you all soon. Have a great day.

Operator: Thank you for everyone, joining in today’s session. We hope you found it useful. Have a wonderful day and stay safe.