Apx Group Holdings, Inc. 10-Q Quarterly Report August 2017

“Vivint’s second quarter 2017 was another strong period of top-line growth in our core business, led by our inside sales channel, which grew 16.0% year over year. During the second quarter we successfully transitioned all of our sales channels to Vivint Flex Pay and customers have embraced this offering as we had over 50% paying for smart home products and installation through consumer financing or paying in full,” said Todd Pedersen, CEO of APX Group. “I’d also point out that our partnership with Best Buy (NYSE: BBY) continues to develop and we are on track to roll-out to several hundred stores before the holiday shopping season begins. We believe the Vivint smart home offering will be a compelling value proposition in a retail setting and we look forward to optimizing this channel with Best Buy.”

Revenue and Subscriber Data

APX Group reported an increase in total revenues of $31.3 million or 17.3% to $212.1 million for the three month period ended June 30, 2017, as compared to the same period in 2016. The increase in total revenues was primarily driven by an 11.6% increase in Total Subscribers producing approximately $21.1 million, along with higher Average Revenue per User of $1.33 contributing approximately $5.2 million of the increase in recurring and other revenue versus the same period in 2016. The Company completed the transition to the Vivint Flex Pay model that requires new subscribers to purchase smart home products and installation at the time of origination. The recognition of deferred revenue and imputed interest related to the purchases contributed $4.3 million to recurring and other revenues. The increase in total revenues was negatively impacted by $0.7 million during the second quarter of 2017 as compared to the same period in 2016 because of foreign exchange translation.

This earning release includes Adjusted EBITDA, a metric that is not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”). See the “Statement Regarding Non-GAAP Financial Measures” section at the end of this earnings release for the definition of Adjusted EBITDA and a reconciliation to its most directly comparable financial measure calculated in accordance with GAAP.

The following information was filed by Apx Group Holdings, Inc. on Thursday, August 3, 2017 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-Q Quarterly 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-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

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

CIK: 1584423
Form Type: 10-Q Quarterly Report
Accession Number: 0001584423-17-000010
Submitted to the SEC: Thu Aug 03 2017 9:02:26 PM EST
Accepted by the SEC: Fri Aug 04 2017
Period: Friday, June 30, 2017
Industry: Miscellaneous Business Services

External Resources:
SEC.gov

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Apx Group Holdings, Inc. (1584423) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

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