Smartrent Inc Stock Price, News & Analysis

SmartRent (NYSE: SMRT), a leading provider of smart communities solutions for rental housing, has appointed Frank Martell as President and CEO, effective immediately. Martell, who has been serving on SmartRent's Board since June 2024, brings over 30 years of executive leadership experience. His previous roles include CEO positions at loanDepot and CoreLogic, where he demonstrated success in driving market leadership and profitability. At CoreLogic, he transformed the company into a global platform for digital residential property data and analytics. As SmartRent's new CEO, Martell will focus on accelerating the adoption of the company's enterprise platform and evolving it into a high-performing, customer-centric organization centered on its hardware-enabled SaaS model.

SmartRent (NYSE: SMRT) has announced major platform enhancements with the introduction of SMRT IQ, an AI-powered intelligence layer, and advanced energy management tools. The new SMRT IQ feature uses conversational AI to transform property-level device data into instant insights, allowing users to query real-time data from connected smart devices using natural language. The platform's enhanced energy management capabilities leverage real-time thermostat data to optimize HVAC performance, reduce energy waste, and support ESG goals. These innovations are part of SmartRent's $10 million investment in platform development, designed to streamline property operations, cut utility costs, and improve decision-making across rental housing portfolios. The system integrates with existing HVAC systems and provides comprehensive energy dashboards, smart setpoint automation, and live alerts for performance anomalies.

SmartRent (NYSE: SMRT) and Parks Associates released a whitepaper revealing significant energy cost reductions in multifamily communities through smart technology implementation. The study shows properties achieved an 18-19% reduction in energy and water costs, surpassing initial expectations of 9-12%. According to ACEEE, multifamily properties could save $3.4B in total utility costs annually (15-30%) by adopting smart energy strategies. The whitepaper details how integrated IoT solutions, including smart thermostats, lighting, humidity sensors, and leak detectors, can optimize energy consumption while improving property NOI. The research emphasizes that connected technologies have evolved from luxury amenities to operational necessities, helping properties meet ESG requirements, attract environmentally conscious renters, and generate significant cost savings through streamlined operations.

SmartRent (NYSE: SMRT) reported mixed Q1 2025 financial results, highlighting its strategic shift towards a hardware-enabled SaaS model. Annual Recurring Revenue reached $55.9M, up 17% YoY, while SaaS revenue grew 17% to $14.0M. However, total revenue decreased 18% to $41.3M, and the company reported a net loss of $(40.2M), including a $24.9M goodwill impairment. Key metrics showed Units Deployed increased 10% to 827,611, though New Units Deployed decreased 39% to 18,114. The company maintained a strong balance sheet with $125.6M in cash and no debt. During Q1, SmartRent repurchased 1.0M shares for $1.2M and executed $10M in cost reductions as part of its organizational restructuring efforts.

SmartRent (NYSE: SMRT), a provider of smart solutions for rental housing, has received a notice from the NYSE on May 2, 2025, indicating non-compliance with listing standards due to its average closing share price falling below $1.00 over a 30-day trading period. The company has a six-month cure period to regain compliance by achieving a closing share price of at least $1.00 and maintaining an average closing price of $1.00 over a 30-day trading period.

During this period, SmartRent's stock will continue trading on the NYSE while the company evaluates options to resolve the deficiency, including the possibility of implementing a reverse stock split subject to board and stockholder approval. Failure to regain compliance could result in suspension and delisting from the NYSE.

SmartRent (NYSE: SMRT), a leading provider of smart communities and operations solutions for the rental housing industry, has scheduled its first quarter 2025 financial results announcement for May 7, 2025. The company will release its financial results before market opening, followed by a conference call at 11:30 a.m. ET.

The conference call will be hosted by interim CEO John Dorman and CFO Daryl Stemm, who will discuss the company's performance. Investors can access the call via telephone registration and webcast through the company's Investor Relations website.

SmartRent (NYSE: SMRT) announced the immediate resignation of Shane Paladin from his positions as President, CEO, and Board member at the request of the Board of Directors. Board Chairman John Dorman has been appointed interim CEO, while Alison Dean becomes lead independent director.

The company has initiated an executive search for a permanent CEO replacement, with Paladin remaining in an advisory role for three months to ensure a smooth transition. The Board expressed confidence in the company's market position and growth potential despite the leadership change.

In preliminary financial results, SmartRent expects first quarter 2025 revenue between $40.5-$41.5 million, representing an 18-20% decrease compared to the same period last year.

SmartRent (NYSE: SMRT) announced three new features in its Work Management solution as part of a $10 million investment in innovation: Teams, Smart Launch, and Triggers. The Teams feature enables group-level work assignments across properties, allowing for flexible maintenance team deployment through three approaches: property-specific teams, podded teams for multiple communities, or organization-wide teams.

Smart Launch, an AI-powered assistant, streamlines workflow searches and platform navigation using natural language processing, reducing onboarding time and improving user satisfaction. The Triggers enhancement automates move-out inspection task creation based on move-out dates, working in conjunction with SmartRent's Boards feature for an enhanced make-ready process.

These innovations aim to support the rental housing industry's shift toward centralization, enhancing coordination and automating key workflows for more efficient property management.

SmartRent (NYSE: SMRT) has announced inducement awards granted to their new President and CEO Michael Shane Paladin under the company's 2025 Inducement Equity Incentive Plan. The compensation package includes:

• 1,790,055 time-based restricted stock units (RSUs) of Class A common stock, vesting one-third annually over three years
• 2,320,441 performance stock units (PSUs) as target, with potential 200% maximum based on stock price performance over five years

The PSUs will vest based on company stock price achievements during a five-year performance period, with 50% vesting at four years and the remaining at five years, subject to continued employment. These awards were granted as material inducement for Paladin's employment in accordance with NYSE Listed Company Manual Rule 303A.08.