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.”
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.