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Michael Shane Paladin, the former CEO of SmartRent, Inc. (NYSE:SMRT), recently executed a sale of Class A Common Stock, according to a recent SEC filing. On May 12, 2025, Paladin sold 43,859 shares at a price of $0.87 per share, totaling $38,157. The sale comes amid challenging market conditions for SMRT, with the stock down 71% over the past year and currently trading at $0.74. Following this transaction, Paladin no longer holds any shares in the company. Paladin resigned from his position as CEO on April 8, 2025. While the company maintains a strong balance sheet with more cash than debt and a current ratio of 3.0, InvestingPro analysis suggests the stock is currently undervalued. For detailed insights and 14 additional ProTips about SMRT, including comprehensive valuation metrics, visit InvestingPro.
In other recent news, SmartRent Inc. announced its Q1 2025 financial results, revealing an earnings per share (EPS) of -$0.21, which missed the forecast of -$0.03 by a significant margin. The company’s revenue for the quarter was $41.3 million, a decline of 18% compared to the previous year. Despite the overall revenue decrease, SmartRent’s Software (ETR:SOWGn) as a Service (SaaS) revenue grew by 17% year-over-year, reaching $14 million, indicating a strategic shift towards software solutions. The company’s gross margin also fell from 38.5% to 32.8%, reflecting cost pressures. SmartRent is undergoing a strategic pivot, focusing on SaaS growth and reducing its reliance on hardware sales, which saw a 35% decrease. Analyst firms such as KBW and Cantor Fitzgerald have shown interest in the company’s restructuring efforts and strategic changes, which include cost-saving measures expected to yield benefits by Q3. The company is also in the final stages of a CEO search, following recent leadership changes, and aims for non-GAAP adjusted EBITDA profitability in 2025.
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