Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Resideo Technologies, Inc. (NYSE: REZI)

NEW YORK--( BUSINESS WIRE)--Spruce Point Capital Management, LLC (“Spruce Point” or “we” or “us”), a New York-based investment management firm that focuses on forensic research and short-selling, today issued a detailed report entitled “Red Alert, Where There’s Smoke, There’s Fire” that outlines why we believe and estimate that shares of Resideo Technologies, Inc. (NYSE: REZI) (“REZI” or the “Company”) face up to 25% – 50% potential long-term downside to approximately $17.64 – $26.45 per share, representing material risk of market underperformance. Download and view the report, disclaimers, additional information, and exclusive updates by visiting www.SprucePointCap.com.

Spruce Point Report Overview

Headquartered in Scottsdale, AZ, Resideo manufactures, markets, and distributes a range of home comfort and security solutions, along with low voltage products. Originally a spin-off from Honeywell in 2018, Resideo operates in two segments, 1) ADI Global Distribution (62% of 2024 revenue) which is a wholesale distributor of low voltage products, and 2) Products and Solutions (38% of revenue) which sells safety, security, water, air, and energy products and solutions. In July 2025, Resideo announced its intention to split-up the Company in the second half of 2026. Resdieo has a market capitalization of $5.3 billion and in the last 12 months ending September 30, 2025, generated $7,435 million of revenue and $303 million of adjusted operating cash flow.

The issues we analyze in our report include the following:

Please note that the items summarized in this press release are expanded upon and supported with data, public filings and records, and images in Spruce Point’s full report. As a reminder, our full report, along with its investment disclaimers, can be downloaded and viewed at www.SprucePointCap.com.

As disclosed, Spruce Point and/or its clients have a short position in Resideo Technologies, Inc. (NYSE: REZI) and owns derivative securities that stand to net benefit if its share price falls. Following publication of the report, we intend to continue transacting in the securities covered therein, and we may be long, short, or neutral at any time hereafter regardless of our initial opinion. For additional important information, please review the “Full Legal Disclaimer” contained in the report.

About Spruce Point

Spruce Point Capital Management, LLC is a forensic fundamentally-oriented investment manager that focuses on short-selling, value, and special situation investment opportunities.