Apx Group Holdings, Inc. 10-K Annual Report March 2014

Provo, UT – March 5, 2014 – APX Group Holdings, Inc. (“APX Group” or the “Company”), a leading residential security solutions and home automation services company, announced today its financial results for the fourth quarter and full year ended December 31, 2013.

APX Group Holdings, Inc.

Highlights for the fourth quarter 2013 included the following:

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Total revenues of $132.7 million for the fourth quarter 2013, an increase of 9.9%, compared to total Combined (as defined below) revenues of $120.7 million for the fourth quarter 2012

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Net loss before non-controlling interests of $37.2 million for the fourth quarter, a decrease of 74.4%, compared to Combined net loss before non-controlling interests of $145.1 million for the fourth quarter 2012

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Total Recurring Monthly Revenue (“Total RMR,” as defined below) at December 31, 2013 was $42.2 million, a 23.0% increase compared to Total RMR of $34.3 million at December 31, 2012

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20,439 net new subscribers in the fourth quarter 2013, an increase of 33.2% compared to 15,340 net new subscribers in the fourth quarter 2012

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Adjusted EBITDA of $79.8 million for the fourth quarter 2013, an increase of 25.1%, compared to Combined Adjusted EBITDA of $63.8 million for the fourth quarter 2012¹

Highlights for the full year 2013 included the following:

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Total revenues of $500.9 million for 2013, an increase of 10.0%, compared to Combined total revenue of $455.2 million for 2012

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Net loss before non-controlling interests of $124.5 million for 2013, a decrease of 32.7%, compared to Combined net loss before non-controlling interest of $184.9 million for 2012

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219,034 net new subscribers in 2013, an increase of 21.5% compared to 180,347 net new subscribers in 2012

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Average RMR per New Subscriber of $58.35 in 2013, an increase of 1.3% compared to $57.59 in 2012

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Adjusted EBITDA of $292.3 million for 2013, an increase of 19.8%, compared to Combined Adjusted EBITDA of $244.0 million for 2012

“Our fourth quarter results capped a very strong 2013 performance in a number of areas, including net new originations, Total RMR, and Operating cash flow. These operational results coupled with our build out in technology, IT, and management capabilities provide us a great foundation for 2014”, said Todd Pedersen, CEO of APX Group.

Adjusted EBITDA is a non-GAAP measure. See the “Statement Regarding Non-GAAP Financial Measures and Certain Definitions” section at the end of this Earnings Release for the definition of Adjusted EBITDA and a reconciliation to net loss before non-controlling interests for the Company, and to income (loss) from operations for Vivint.

The following information was filed by Apx Group Holdings, Inc. on Wednesday, March 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Apx Group Holdings, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 12.1: Statement Regarding Calculation Of Ratios

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 99.1: Additional Exhibits

CIK: 1584423
Form Type: 10-K Annual Report
Accession Number: 0001193125-14-111905
Submitted to the SEC: Mon Mar 24 2014 1:24:47 PM EST
Accepted by the SEC: Mon Mar 24 2014
Period: Tuesday, December 31, 2013
Industry: Miscellaneous Business Services

External Resources:
SEC.gov

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Apx Group Holdings, Inc. (1584423) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

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