SCHAUMBURG, IL - RDE, Inc. (NASDAQ:RSTN), the owner of digital platforms Restaurant.com and CardCash.com, today announced the appointment of Steve Handy as its new Chief Financial Officer. Handy arrives with over 20 years of financial leadership, including a significant role in Sacks Parente Golf, Inc.'s successful IPO and a 700% revenue growth in the first half of 2024.
Handy's experience spans various senior financial roles, including CFO positions at Opti-Harvest, Inc., Tix Corporation, SM&A, and Dot Hill Systems, as well as a Senior Auditor at Deloitte & Touche LLP. He is also a Certified Public Accountant in California.
Ketan Thakker, CEO of RDE, Inc., expressed enthusiasm for Handy's expertise in public markets and operational background, anticipating his contribution to the company's growth strategy and digital platform enhancement.
Handy, who played a pivotal role in Sacks Parente Golf's transition from a private to a public company, expressed excitement about joining RDE, Inc. during a significant growth phase, emphasizing his commitment to building shareholder value.
RDE, Inc. specializes in incentives and rewards in retail, dining, and entertainment, operating the nation's largest restaurant-focused digital deals brand, Restaurant.com, and a leading secondary gift card exchange platform, CardCash.com.
The information in this article is based on a press release statement.
InvestingPro Insights
RDE, Inc. (NASDAQ:RSTN) has been navigating a challenging financial landscape, as evidenced by recent data from InvestingPro. With a negative P/E ratio of -5.4, the company's profitability is under scrutiny, especially considering the lack of dividends paid to shareholders. This could be a point of focus for Steve Handy, the newly appointed CFO, whose experience with financial growth may be pivotal in steering RDE, Inc. toward a more profitable horizon.
The company's stock has demonstrated a tendency to move inversely to market trends, a unique characteristic that could intrigue investors looking for a hedge or diversification in their portfolio. Over the last month, the stock has seen a decline of approximately 23%, which could either signal a buying opportunity for contrarian investors or a red flag for those seeking stability.
With a gross profit margin of 12.31%, RDE, Inc. falls behind industry benchmarks, which is one of the critical areas Handy might address to improve financial health. The company's moderate level of debt and non-profitability over the last twelve months are additional factors that could be on the new CFO's radar for improvement. For a more comprehensive analysis, InvestingPro offers 5 additional InvestingPro Tips for RDE, Inc. at https://www.investing.com/pro/RSTN.
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