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SmartRent, Inc. (NYSE:SMRT), a leader in smart home integration systems with a market capitalization of $162 million, announced the results of its Annual Meeting held on May 13, 2025. The company’s stock has faced significant headwinds, declining over 67% in the past year, though InvestingPro analysis suggests the stock is currently undervalued. The shareholders voted on two key proposals as detailed in the proxy statement filed on April 1, 2025.
Proposal 1 concerned the election of one Class I director to serve until the 2028 annual meeting of stockholders. The nominee, Ann Sperling, was elected with 66,120,191 votes for and 23,931,099 withheld. There were 58,435,967 broker non-votes.
Proposal 2 was the ratification of Deloitte & Touche LLP as SmartRent’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal was ratified with 147,950,235 votes for, 380,696 against, and 156,326 abstained.
No other matters were submitted for stockholder action at the Annual Meeting. The company, incorporated in Delaware and headquartered in Phoenix, Arizona, is known for its computer-integrated systems design services. SmartRent’s interim Chief Executive Officer, John Dorman, signed off on the SEC filing dated May 19, 2025, confirming the voting outcomes.
This report is based on the information provided in the SEC filing by SmartRent, Inc.
In other recent news, SmartRent Inc. reported its Q1 2025 financial results, revealing a significant earnings miss. The company posted an EPS of -$0.21, falling short of the forecasted -$0.03 by $0.18. Revenue for the quarter was $41.3 million, marking an 18% decline year-over-year. However, SaaS revenue showed a positive trend, growing 17% year-over-year to $14 million, reflecting a strategic shift towards software solutions. SmartRent’s gross margin decreased from 38.5% to 32.8%, while the net loss for the quarter was $40.2 million, including a $24.9 million non-cash goodwill impairment. Despite these challenges, the company remains focused on achieving non-GAAP adjusted EBITDA profitability and views 2025 as a foundational year. The company has also initiated a significant restructuring to enhance operational efficiency and customer success. Additionally, SmartRent is in the final stages of its CEO search, which could impact future strategic continuity.
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