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Adt Inc. (ADT) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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CIK: 1703056 Ticker: ADT
Exhibit 99.1
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ADT REPORTS THIRD QUARTER 2022 RESULTS


Continued sequential and year-over-year improvement in revenue, up 22% versus prior year
Strong customer satisfaction with a third consecutive quarter of record high customer retention and recurring monthly revenue balance
Improving capital efficiency with record revenue payback
Reaffirming 2022 guidance metrics

BOCA RATON, Fla. – Nov. 3, 2022 – ADT Inc. (NYSE: ADT), the most trusted brand in smart home and small business security, today reported results for the third quarter of 2022.

Financial highlights for the third quarter of 2022 are listed below. Variances are on a year-over-year basis unless otherwise noted.

•Total revenue of $1.6 billion, up 22% or 8% excluding Solar, and end-of-period Recurring Monthly Revenue (RMR) of $372 million, up 4%
•Record high customer retention with gross customer revenue attrition at 12.6%
•Record revenue payback of 2.1 years
•GAAP net loss of $122 million, or a loss of $(0.13) per diluted share, down $13 million
•Adjusted net income of $83 million, or $0.10 per diluted share, up $137 million
•Adjusted EBITDA of $620 million, up $66 million or 12%

“ADT’s strong third quarter results demonstrate our continued momentum – setting records in customer retention, RMR balance and revenue payback,” said ADT President and CEO, Jim DeVries. “Our performance to date validates our progress on key initiatives, outlined earlier this year during our Investor Day, to meaningfully grow revenue, earnings and cash flows, as well as reduce debt. Additionally, we were tremendously excited to announce our partnership with State Farm. A collaboration with such a marquee organization will serve as a significant future growth catalyst for ADT and we look forward to continued positive momentum in 2023.”




1
The following information was filed by Adt Inc. (ADT) on Thursday, November 3, 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-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

Cover Page
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 Income (Loss)
Condensed Consolidated Statements Of Operations
Acquisitions And Disposition
Acquisitions And Disposition - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Long-Term Debt Instruments (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Reclassification Out Of Accumulated Other Comprehensive Income (Details)
Derivative Financial Instruments - Schedule Of Derivative Instruments (Details)
Derivative Financial Instruments - Schedule Of Derivative Liabilities At Fair Value (Details)
Derivative Financial Instruments - Schedule Of Unrealized Gain (Loss) On 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 (Tables)
Description Of Business And Summary Of Significant Accounting Policies - Narrative (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments And Securities (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Carrying Values And Fair Values Of Retail Installment Contract Receivables (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 Radio Conversion Costs And Revenue (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Subscriber System Asset And Deferred Subscriber Acquisition Costs Of Depreciation And Amortization (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Subscriber System Assets (Details)
Equity
Equity (Tables)
Equity - Narrative (Details)
Equity - Schedule Of Dividends Declared (Details)
Equity Method Investments
Equity Method Investments (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 - Finite-Lived Intangible Assets Amortization Expense (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 Changes In Goodwill (Details)
Income Taxes
Income Taxes - Narrative (Details)
Leases
Leases (Tables)
Leases - Schedule Of Consolidated Balance Sheet Information Related To Leases (Details)
Leases - Schedule Of Lease Cost (Details)
Leases - Supplementary Cash Flow Information (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
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)
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 (Details)
Revenue And Receivables - Narrative (Details)
Revenue And Receivables - Schedule Of Disaggregation Of Revenue (Details)
Revenue And Receivables - Schedule Of Revenue And Cost Of Revenue From Products Sales (Details)
Revenue And Receivables - Schedule Of Unbilled Retail Installment Contract Receivables, Net (Details)
Revenue And Receivables - Summary Of Contracts Assets (Details)
Segment Information
Segment Information (Tables)
Segment Information - Narrative (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)
Ticker: ADT
CIK: 1703056
Form Type: 10-Q Quarterly Report
Accession Number: 0001703056-22-000222
Submitted to the SEC: Thu Nov 03 2022 4:26:44 PM EST
Accepted by the SEC: Thu Nov 03 2022
Period: Friday, September 30, 2022
Industry: Detective Guard And Armored Car Services

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