secwatch.observer — SEC 8-K summary
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Issuer:     SmartRent, Inc. (SMRT)
CIK:        0001837014
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0000950170-24-087520
Event type: leadership
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartRent CEO Lucas Haldeman steps down; Q2 revenue $48.5M misses guidance; FY2024 outlook suspended
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- Haldeman resigns as CEO and from Board; search for new CEO underway; Dorman appointed Chairman; operating committee formed.
- Preliminary Q2 revenue $48.5M, down 9% YoY and below guidance range of $49-55M.
- Net loss $4.6M (55% improvement YoY); adjusted EBITDA $0.9M above guidance range of ($0.5M)-$0.5M.
- SaaS revenue grew 32% YoY to $12.8M.
- Company suspends full-year 2024 outlook due to CEO transition, channel partner changes, and market headwinds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837014/000095017024087520/0000950170-24-087520-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837014/000095017024087520/smrt-20240729.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-087520

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