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Apx Group Holdings, Inc. (1584423) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Apx Group Holdings, Inc.

CIK: 1584423
Exhibit 99.1
vivinta13.jpg
APX GROUP HOLDINGS, INC. REPORTS THIRD QUARTER 2019 RESULTS
3rd Quarter 2019 Highlights

Total revenues increased 6.8% year over year, to $290.8 million
Net loss of $102.3 million compared to net loss of $120.2 million in the prior year period
$169.4 million in Covenant Adjusted EBITDAa compared to $139.3 million in Covenant Adjusted EBITDAa in the prior year period

Provo, UT – November 7, 2019 – APX Group Holdings, Inc. (“APX Group”, “Vivint” or the “Company”) today reported financial and operational results for the third quarter ended September 30, 2019.
“We continue to work toward our milestone merger with Mosaic Acquisition Corp. to begin our next chapter as the leading public smart home company. In the meantime, we are pleased to report strong third quarter results, highlighted by improving momentum in new subscriber adds, double-digit underlying revenue growth, and a sharp increase in profitability from the prior year,” said Todd Pedersen, CEO of Vivint. “We are excited about our future. Our belief is that partnering with Mosaic will help to raise our profile in the marketplace and provide a strong platform for future growth, facilitating our mission to redefine the home experience through intelligently designed cloud-enabled solutions delivered to every home by people who care.”

a: This earning release includes Covenant Adjusted EBITDA, a metric that is not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”). Covenant Adjusted EBITDA provides additional information to investors about the calculation of, and compliance with, certain financial covenants contained in the agreements governing the Company’s notes, and the credit agreements governing the Company’s revolving credit facility and term loan. See the “Statement Regarding Non-GAAP Financial Measures” section at the end of this earnings release for the definition of Covenant 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, November 7, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Apx Group Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Equity (Deficit) Statement
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited) (Parenthetical)
Balance Sheet Components
Balance Sheet Components (Detail)
Balance Sheet Components (Tables)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies (Tables)
Basis Of Presentation And Significant Accounting Policies - Accounts Receivable (Detail)
Basis Of Presentation And Significant Accounting Policies - Additional Information (Details)
Basis Of Presentation And Significant Accounting Policies - Depreciation And Amortization (Details)
Basis Of Presentation And Significant Accounting Policies - Going Concern (Details)
Basis Of Presentation And Significant Accounting Policies - Recently Adopted Accounting Standards (Details)
Commitments And Contingencies
Commitments And Contingencies (Detail)
Employee Benefit Plan
Employee Benefit Plan (Detail)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Debt Fair Value And Carrying Value (Detail)
Financial Instruments - Derivative Fair Value (Details)
Financial Instruments - Level 3 (Details)
Financial Instruments - Valuation Approach Applied To Each Class Of Security (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Future Amortization Expense (Detail)
Goodwill And Intangible Assets - Intangible Assets (Detail)
Guarantor And Non-Guarantor Supplemental Financial Information
Guarantor And Non-Guarantor Supplemental Financial Information (Tables)
Guarantor And Non-Guarantor Supplemental Financial Information - Balance Sheet (Detail)
Guarantor And Non-Guarantor Supplemental Financial Information - Cash Flows (Detail)
Guarantor And Non-Guarantor Supplemental Financial Information - Statements Of Operations And Comprehensive (Loss) Income (Detail)
Income Taxes
Income Taxes (Detail)
Leases - Components Of Lease Expense (Details)
Leases (Notes)
Leases (Tables)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Long-Term Debt - Debt Modification And Extinguishments (Details)
Long-Term Debt - Deferred Financing Activity (Details)
Long-Term Debt - Summary Of Debt (Detail)
Property And Equipment (Tables)
Property Plant And Equipment
Property Plant And Equipment - Additional Information (Detail)
Property Plant And Equipment - Components Of Property Plant And Equipment (Detail)
Related Party Transactions
Related Party Transactions (Detail)
Restructuring And Asset Impairment Charges
Restructuring And Asset Impairment Charges (Detail)
Restructuring And Asset Impairment Charges (Tables)
Restructuring And Asset Impairment Charges - Spin-Off (Details)
Retail Installment Contract Receivables
Retail Installment Contract Receivables (Tables)
Retail Installment Contract Receivables - Allowance For Credit Losses (Details)
Retail Installment Contract Receivables - Change In Accounting Estimate (Details)
Retail Installment Contract Receivables - Installment Receivables (Details)
Revenue And Capitalized Contract Costs
Revenue And Capitalized Contract Costs - Narrative (Details)
Revenue And Capitalized Contract Costs - Remaining Performance Obligations (Details)
Segment Reporting And Business Concentrations
Segment Reporting And Business Concentrations (Details)
Segment Reporting And Business Concentrations (Tables)
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)

Material Contracts, Statements, Certifications & more

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

CIK: 1584423
Form Type: 10-Q Quarterly Report
Accession Number: 0001584423-19-000028
Submitted to the SEC: Thu Nov 07 2019 7:41:09 PM EST
Accepted by the SEC: Fri Nov 08 2019
Period: Monday, September 30, 2019
Industry: Miscellaneous Business Services

External Resources:
SEC.gov

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