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Apx Group Holdings, Inc. (1584423) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Apx Group Holdings, Inc.

CIK: 1584423
Exhibit 99.1
APX GROUP HOLDINGS, INC. REPORTS 4th QUARTER and FULL YEAR 2018 RESULTS
vivinta07.jpg
4th Quarter 2018 Highlights
Total revenues increased 17.3% year over year to $276.5 million
Net loss of $118.6 million; $140.1 million in Adjusted EBITDAa 
44,948 New Subscribers
Full Year 2018 Highlights
$1.05 billion in total revenues, year-over-year increase of 19.1%
Net loss of $467.9 million; $541.1 million in Adjusted EBITDAa 
Record 322,574 New Subscribers, a 15.3% year-over-year increase
12.3% Attrition Rate

Provo, UT – November 1, 2018 – APX Group Holdings, Inc. (“APX Group”, “Vivint” or the “Company”) today reported financial and operational results for the fourth quarter ended December 31, 2018.
“At the beginning of 2018, Vivint established a number of key initiatives to deliver during the year, including aggressive growth targets, cash-flow improvements, and broad technology enhancements within our smart home platform,” said Todd Pedersen, Chief Executive Officer of APX Group. “As we look back upon the year, we believe we’ve made significant progress in each of these areas.  Our year-over-year growth in New Subscribers and total revenue was robust at 15.3% and 19.1%, respectively, our Flex Pay program continued to define a best-of-breed capability within our industry and our software, firmware and hardware releases in mid-2018 have led to material improvements in the quality of service and functional capabilities. All of these accomplishments provide company-specific momentum as we move into 2019, that coupled with the continued emergence of the Smart-Home-as-a-Service model, should, we believe, put Vivint in a great position for the coming year.”


a 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 Tuesday, March 5, 2019 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

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity (Deficit)
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Schedule Of Balance Sheet Component Balances (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Future Minimum Lease Payments (Detail)
Description Of Business
Employee Benefit Plan
Employee Benefit Plan (Detail)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Additional Information (Detail)
Financial Instruments - Components Of Long-Term Debt Including Associated Interest Rates And Related Fair Values (Detail)
Financial Instruments - Derivative Instruments (Details)
Financial Instruments - Financial Instruments At Fair Value Based On Valuation Approach Applied To Each Class Of Security (Detail)
Financial Instruments - Level 3 (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Changes In Carrying Amount Of Goodwill (Detail)
Goodwill And Intangible Assets - Schedule Of Estimated Future Amortization Expense Of Intangible Assets Excluding Patents Currently In Process (Detail)
Goodwill And Intangible Assets - Schedule Of Intangible Asset Balances (Detail)
Guarantor And Non-Guarantor Supplemental Financial Information
Guarantor And Non-Guarantor Supplemental Financial Information (Tables)
Guarantor And Non-Guarantor Supplemental Financial Information - Condensed Consolidating Balance Sheet (Detail)
Guarantor And Non-Guarantor Supplemental Financial Information - Condensed Consolidating Statements Of Cash Flows (Detail)
Guarantor And Non-Guarantor Supplemental Financial Information - Condensed Consolidating Statements Of Operations And Comprehensive Loss (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Income Tax Provision (Detail)
Income Taxes - Reconciliation Of Tax Expense Computed At Statutory Federal Rate And Company's Tax Expense (Detail)
Income Taxes - Significant Portions Of Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Summary Of Net Operating Loss Carryforwards (Detail)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Long-Term Debt - Deferred Financing Activity (Details)
Long-Term Debt - Other Expense And Loss On Extinguishment (Details)
Long-Term Debt - Revolving Credit Facility (Details)
Long-Term Debt - Summary Of Debt (Detail)
Property Plant And Equipment
Property Plant And Equipment (Tables)
Property Plant And Equipment - Additional Information (Detail)
Property Plant And Equipment - Components Of Property And Equipment (Detail)
Related Party Transactions
Related Party Transactions (Detail)
Restructuring And Asset Impairment Charges
Restructuring And Asset Impairment Charges (Tables)
Restructuring And Asset Impairment Charges - Additional Information (Detail)
Restructuring And Asset Impairment Charges - Summary Of Charges (Details)
Restructuring And Asset Impairment Charges - Summary Of Restructuring Activity (Detail)
Retail Installment Contract Receivables
Retail Installment Contract Receivables (Tables)
Retail Installment Contract Receivables - Allowance For Credit Losses (Details)
Retail Installment Contract Receivables - Installment Receivables (Details)
Revenue And Capitalized Contract Costs - Narrative (Details)
Revenue And Capitalized Contract Costs (Notes)
Revenue And Capitalized Contract Costs (Tables)
Revenue And Capitalized Contract Costs - Impact Of New Accounting Pronouncement On Balance Sheet (Details)
Revenue And Capitalized Contract Costs - Impact Of New Accounting Pronouncement On Statement Of Cash Flows (Details)
Revenue And Capitalized Contract Costs - Impact Of New Accounting Pronouncement On Statement Of Operations (Details)
Revenue And Capitalized Contract Costs - Performance Obligation, Expected Timing (Details)
Segment Reporting And Business Concentrations
Segment Reporting And Business Concentrations (Tables)
Segment Reporting And Business Concentrations - Additional Information (Detail)
Segment Reporting And Business Concentrations - Revenues And Long-Lived Assets By Geographic Region (Detail)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Detail)
Significant Accounting Policies - Changes In Company's Allowance For Accounts Receivable (Detail)
Significant Accounting Policies - Depreciation And Amortization (Details)
Stock-Based Compensation And Equity
Stock-Based Compensation And Equity (Tables)
Stock-Based Compensation And Equity - Additional Information (Detail)
Stock-Based Compensation And Equity - Stock-Based Compensation Expense (Detail)
Stock-Based Compensation And Equity - Summary Of Incentive Unit Activity (Detail)
Stock-Based Compensation And Equity - Summary Of The Sar Activity (Detail)
CIK: 1584423
Form Type: 10-K Annual Report
Accession Number: 0001584423-19-000007
Submitted to the SEC: Tue Mar 05 2019 7:07:27 PM EST
Accepted by the SEC: Wed Mar 06 2019
Period: Monday, December 31, 2018
Industry: Miscellaneous Business Services

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