SmartRent appoints Pankaj Bansi as chief transformation officer

PHOENIX - SmartRent, Inc. (NYSE:SMRT), whose stock has gained over 31% in the past six months according to InvestingPro data, announced Thursday the appointment of Pankaj Bansi as Chief Transformation Officer, according to a company press release.

Bansi, who brings over 30 years of experience at the intersection of real estate and technology, will lead SmartRent’s enterprise transformation strategy. Throughout his career, he has managed global mergers, acquisitions and change initiatives valued at more than $1 billion. The appointment comes at a crucial time for SmartRent, which InvestingPro analysis shows is maintaining a strong balance sheet with more cash than debt, despite facing profitability challenges in recent quarters.

Prior to joining SmartRent, Bansi held senior leadership roles at Cotality (formerly CoreLogic), where he served as Executive/Senior Vice President managing a $600 million budget. His previous positions include Senior Manager at Deloitte Consulting and Associate Partner at Everest Group.

Frank Martell, President and CEO of SmartRent, said Bansi’s "record of evolving complex operations into high-performing, data-driven enterprises will be invaluable" as the company continues to expand.

As part of his employment agreement, Bansi received inducement grants under the company’s 2025 Inducement Equity Incentive Plan, consisting of time-based restricted stock units covering 72,992 shares of SmartRent’s Class A common stock that vest at 25% annually, and additional time-based RSUs covering 145,985 shares that vest at 50% annually.

Bansi holds an MBA from Northwestern University’s Kellogg School of Management, a Master of Science in Structural Engineering from the University of Cincinnati, and a Bachelor of Engineering from V.J. Technical Institute in Mumbai, India.

SmartRent provides smart communities and smart operations solutions to the rental housing industry, with 15 of the top 20 multifamily operators using its technology. While the company maintains a healthy current ratio of 2.72 and shows promising market momentum, detailed financial analysis and additional insights are available in the comprehensive Pro Research Report on InvestingPro, which covers over 1,400 US stocks with deep-dive analysis and actionable intelligence.

In other recent news, SmartRent Inc. reported its second-quarter 2025 earnings, revealing a net loss and revenue figures that did not meet expectations. The company posted an earnings per share (EPS) of -$0.06, which was below the forecasted -$0.04. Revenue for the quarter totaled $38.3 million, falling short of the anticipated $41.15 million. These financial results were released on August 6. SmartRent’s earnings announcement followed a pre-market decline in its stock. The company’s performance has attracted attention from analysts, although specific upgrades or downgrades were not mentioned in the recent developments. Investors are closely monitoring SmartRent’s financial health following these results.

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