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Adt Inc. (ADT) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Adt Inc.

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CIK: 1703056 Ticker: ADT
Exhibit 99.1


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ADT REPORTS SECOND QUARTER 2020 RESULTS

Continued strong revenue and cash flow generation
Residential customer demand significantly strengthened throughout the quarter
Improvements in customer retention and revenue payback
Signed comprehensive long-term strategic partnership with Google
Google to acquire $450 million of ADT Class B common stock
Providing improved 2020 full year outlook



BOCA RATON, FL – August 5, 2020 –
ADT Inc. (NYSE: ADT), a leading provider of security, automation, and smart home solutions serving consumer and business customers in the United States, today reported the results for its second quarter of 2020.
SECOND QUARTER 2020 HIGHLIGHTS COMPARED TO PRIOR YEAR(1)
•Total revenue of $1,331 million, up 4% from $1,284 million
•Net loss of $107 million, compared to $104 million
•Year to date net cash provided by operating activities of $629 million, compared to $979 million
•Year to date net cash used in investing activities of $536 million, compared to $788 million
•Year to date net cash used in financing activities of $96 million, compared to $515 million
•Adjusted EBITDA of $563 million, compared to $630 million
•Year to date Adjusted Free Cash Flow(2) of $405 million, compared to $292 million.
•Trailing twelve-month revenue payback improved to 2.3 years from 2.4 years
•Trailing twelve-month gross customer revenue attrition of 13.1%, an improvement of 20 bps


“Our strong financial results and operating performance underscore the resilience of our business model and the hard work of our entire team during the most challenging of circumstances brought about by COVID-19,” stated Jim DeVries, ADT's President and CEO. “During the quarter, we generated year-over-year revenue growth, robust free cash flow, an improved revenue payback multiple, and better customer retention, all while continuing to prioritize the well-being of our associates and customers. Simultaneously, we aggressively moved forward with our many strategic initiatives to optimize our long-term capabilities. Our groundbreaking strategic partnership with Google greatly advances our opportunities in security and smart home automation, and, along with other initiatives including consumer financing, Blue by ADT, and our Red Hawk and Defenders acquisitions, enhances ADT’s long-term growth platform and ability to create shareholder value in the years ahead.”

1
The following information was filed by Adt Inc. (ADT) on Wednesday, August 5, 2020 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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Inside Adt Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Stockholders??? Equity
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Operations
Acquisitions (Details)
Acquisitions And Dispositions
Acquisitions And Dispositions - Defenders Acquisition (Details)
Acquisitions And Dispositions - Defenders Acquisition Narrative (Details)
Acquisitions And Dispositions Acquisitions And Dispositions (Tables)
Acquisitions And Dispositions Disposition Of Canadian Operations Narrative (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Accrued Expenses And Other Current Liabilities (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Carrying Values And Fair Values Of Debt (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Cash And Cash Equivalents (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Fair Value And Carrying Value Of Retail Installment Contract Receivables (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Impact Of New Accounting Standard On Balance Sheet (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Subscriber System Assets (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Subscriber System Depreciation Expense (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies Leases, Impact Of New Accounting Standard Adoption (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies Radio Conversion Costs (Details)
Commitment And Contingencies (Policies)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
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Debt Second Lien Notes Due 2028 (Details)
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Equity - Additional Information (Details)
Equity - Issuance Of Class B Common Stock (Details)
Equity - Schedule Of Dividends Declared (Details)
Equity Additional (Details)
Equity Share Repurchase (Policies)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Details)
Goodwill And Other Intangible Assets - Changes In Net Carrying Amount Of Contracts And Related Customer Relationships (Details)
Goodwill And Other Intangible Assets - Finite-Lived Intangible Assets Amortization Expense (Details)
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Leases Lessee, Leases, Description (Policies)
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Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Computation Of Basic And Diluted Earnings Per Share (Details)
Net Loss Per Share Eps Policy (Policies)
Related Party Transactions
Related Party Transactions (Details)
Revenue
Revenue - Additional Information (Details)
Revenue - Changes In The Allowance For Doubtful Accounts (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Retail Installment Contract Receivables Contract Assets (Details)
Revenue - Summary Of Contract Assets (Details)
Revenue Revenue (Policies)
Revenues (Tables)
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Share-Based Compensation - Additional Information (Details)
Share-Based Compensation - Option Valuation Assumptions (Details)
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Subsequent Events (Details)
Ticker: ADT
CIK: 1703056
Form Type: 10-Q Quarterly Report
Accession Number: 0001703056-20-000107
Submitted to the SEC: Wed Aug 05 2020 4:53:28 PM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Tuesday, June 30, 2020
Industry: Detective Guard And Armored Car Services

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