SmartRent Inc

We are subject to various risks and uncertainties in the course of our business. For a discussion of risks and uncertainties relating to our business, please see the section titled "Risk Factors" in our Annual Report on 10-K filed with the SEC on March 5, 2024. Other than the risk factor below, there have been no material changes from the risk factors disclosed therein. We may disclose changes to such risk factors or disclose additional risk factors from time to time in our future SEC filings.

We may not successfully manage the transition of leadership associated with the departure of our Chief Executive Officer, which could have an adverse impact on us.

On July 29, 2024, Lucas Haldeman ended his tenure as the Company’s Chief Executive Officer and Chairman of the Board. In connection with Mr. Haldeman’s departure, Daryl Stemm, our Chief Financial Officer, was appointed as our Interim Principal Executive Officer, and John Dorman, a current member of our board of directors, was appointed Chairman of the Board. The Company has also formed a Management Committee to guide the Company through the transition period until a new Chief Executive Officer is appointed. Our success will depend, in part, on our management of the transition to our Management Committee and our Interim Principal Executive Officer, the effectiveness of our Management Committee and our Interim Principal Executive Officer, our search for, transition to and integration of a permanent successor Chief Executive Officer, and the effectiveness of the permanent successor, if appointed. There can be no assurance that we will be successful in finding a suitable permanent successor or that we will be able to do so in a timely manner. The Chief Executive Officer position is critical to executing on and achieving our vision, strategic direction, culture, and products. The leadership transition may create uncertainty among employees, suppliers and customers, divert resources and management attention, and impact public or market perception, our stock price or our performance, any of which could negatively impact our ability to operate effectively which could have an adverse impact on our business and results of operations.