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Adt Inc. (ADT) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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CIK: 1703056 Ticker: ADT
Exhibit 99.1
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ADT REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS

Strong year-end revenue performance, subscriber acquisition, and customer retention accelerate momentum for 2022 growth

FOURTH QUARTER 2021 (variances on a year-over-year basis)

•Total revenue of $1.4 billion, up 5%
•End of period recurring monthly revenue (“RMR”) of $359 million, up 5%
•Sequential and year over year net subscriber growth; Total subscribers of 6.6 million
•Customer retention with gross customer revenue attrition at 13.1% and revenue payback of 2.3 years
•GAAP net loss of $58 million, or $(0.07) per share and adjusted net loss of $25 million, or adjusted diluted net loss $(0.03) per share
•Adjusted EBITDA of $574 million

FULL YEAR 2021 (variances on a year-over-year basis)

•Total revenue of $5.3 billion
•Gross RMR additions grew 16%
•GAAP net loss of $341 million, or $(0.41) per share and adjusted net loss of $191 million, or adjusted diluted net loss $(0.25) per share
•Adjusted EBITDA of $2.2 billion
•Results met or exceeded full-year guidance, with total revenue and adjusted EBITDA above the high-end of ranges provided


BOCA RATON, Fla. – March 1, 2022 –
ADT Inc. (NYSE: ADT), the most trusted brand in smart home and small business security, today reported results for the fourth quarter and full year 2021.
ADT President and CEO Jim DeVries said, “Our fourth quarter caps off a strong year for ADT as we further set the foundation for long-term growth – increasing our subscriber and recurring revenue base, achieving important milestones in our Google partnership, growing our Commercial business, and entering the fast-growing residential solar market with the acquisition of Sunpro and launch of ADT Solar. I want to thank our dedicated ADT employees and dealers for their unrelenting focus on our customers which produced these excellent results.”
DeVries continued, “We have great momentum in the business and a solid plan in place which positions us well to drive growth, not only for 2022, but for years to come. With a focus on innovative offerings, unrivaled safety, and a premium customer experience, ADT is the market leader in providing safe, smart, and sustainable solutions for our customers.”
1
The following information was filed by Adt Inc. (ADT) on Tuesday, March 1, 2022 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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Inside Adt Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders??? Equity
Acquisitions And Disposition
Acquisitions And Disposition (Tables)
Acquisitions And Disposition - Narrative (Details)
Acquisitions And Disposition - Schedule Of Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Acquisitions And Disposition - Summary Of Business Acquisition, Pro Forma Information (Details)
Basis Of Presentation (Tables)
Commitment And Contingencies - Schedule Of Contractual Obligations Commitments (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Condensed Financial Information Of Registrant
Condensed Financial Information Of Registrant (Tables)
Condensed Financial Information Of Registrant - Condensed Balance Sheets (Details)
Condensed Financial Information Of Registrant - Condensed Statements Of Cash Flows (Details)
Condensed Financial Information Of Registrant - Condensed Statements Of Operations And Comprehensive Income (Loss) (Details)
Condensed Financial Information Of Registrant - Narrative (Details)
Debt
Debt (Tables)
Debt - Adt Notes (Details)
Debt - Debt Covenants And Loss On Extinguishment Of Debt (Details)
Debt - First Lien Credit Agreement (Details)
Debt - First Lien Notes Due 2024 And First Lien Notes Due 2026 (Details)
Debt - First Lien Notes Due 2027 And First Lien Notes Due 2029 (Details)
Debt - Prime Notes (Details)
Debt - Receivables Facility (Details)
Debt - Schedule Of Long-Term Debt Instruments (Details)
Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Debt - Second Lien Notes Due 2028 (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financials Instruments - Interest Rate Swaps (Details)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (Policies)
Description Of Business And Summary Of Significant Accounting Policies - Narrative (Details)
Description Of Business And Summary Of Significant Accounting Policies - Property Plant And Equipment (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Accrued Expenses And Radio Conversion Cost (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Cash And Cash Equivalents (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Fair Value Of Retail Installment Contract Receivables And Long-Term Debt Instruments (Details)
Description Of Business And Summary Of Significant Accounting Policies - Subscriber System Assets And Depreciation Amortization (Details)
Description Of Business And Summary Of Significant Accounting Policies - Supplementary Cash Flow Information (Details)
Equity
Equity (Tables)
Equity - Narrative (Details)
Equity - Reclassification Out Of Accumulated Other Comprehensive Income (Details)
Equity - Schedule Of Accumulated Other Comprehensive Loss (Details)
Equity - Schedule Of Dividends Declared (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Changes In Net Carrying Amount Of Contracts And Related Customer Relationships (Details)
Goodwill And Other Intangible Assets - Gross Carrying Amounts And Accumulated Amortization Of Other Intangible Assets (Details)
Goodwill And Other Intangible Assets - Narrative (Details)
Goodwill And Other Intangible Assets - Schedule Of Finite-Lived Intangible Assets, Amortization Expense (Details)
Goodwill And Other Intangible Assets - Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
Goodwill And Other Intangible Assets - Schedule Of Goodwill (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Components Of Income Tax Expense (Benefit) (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Loss Before Income Taxes For Domestic And Foreign Locations (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits Roll Forward (Details)
Income Taxes - Summary Of Open Tax Years (Details)
Income Taxes - Summary Of Valuation Allowance (Details)
Leases
Leases (Tables)
Leases - Schedule Of Consolidated Balance Sheet Information Related To Leases (Details)
Leases - Schedule Of Lease Cost (Details)
Leases - Schedule Of Operating And Finance Lease Weighted Average Lease Term And Discount Rate (Details)
Leases - Schedule Of Operating And Finance Lease, Liability, Maturity (Details)
Leases - Supplementary Cash Flow Information (Details)
Net (Loss) Income Per Share (Tables)
Net Income (Loss) Per Share
Net Income (Loss) Per Share - Narrative (Details)
Net Income (Loss) Per Share - Schedule Of Earnings Per Share, Basic And Diluted (Details)
Related Party Transactions
Related Party Transactions - Narrative (Details)
Retirement Plans
Retirement Plans (Details)
Revenue And Receivables
Revenue And Receivables (Tables)
Revenue And Receivables - Allowance For Credit Loss Rollforward (Details)
Revenue And Receivables - Amortization Of Deferred Subscriber Acquisition Revenue And Cost Of Revenue (Details)
Revenue And Receivables - Disaggregation Of Revenue (Details)
Revenue And Receivables - Schedule Of Unbilled Retail Installment Contract Receivables, Net (Details)
Revenue And Receivables - Summary Of Contract Assets (Details)
Segment Information
Segment Information (Tables)
Segment Information - Schedule Of Revenue By Geographic Area (Details)
Segment Information - Schedule Of Segment Information Ebitda Reconciliation (Details)
Segment Information - Schedule Of Total Revenue By Segment And Reconciliation To Consolidated Total Revenue (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Disclosure Of Share-Based Compensation Expense (Details)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Schedule Of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details)
Share-Based Compensation - Summary Of Distributed Shares Activity (Details)
Share-Based Compensation - Summary Of Related 2018 Plan Rsus Activity (Details)
Share-Based Compensation - Summary Of Related To The 2018 Plan Options Activity (Details)
Ticker: ADT
CIK: 1703056
Form Type: 10-K Annual Report
Accession Number: 0001703056-22-000042
Submitted to the SEC: Tue Mar 01 2022 4:20:53 PM EST
Accepted by the SEC: Tue Mar 01 2022
Period: Friday, December 31, 2021
Industry: Detective Guard And Armored Car Services

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