Thu, Aug 1, 9:16 PM (88 days ago)
ADT Inc. reported its financial results for the quarter ending June 30, 2024. Key highlights include: - **Revenue**: Increased to $1.2 billion, up from $1.17 billion in the same quarter last year, driven by higher recurring revenue and increased installation revenue. - **Cost of Revenue**: Rose slightly to $196 million, reflecting higher costs associated with monitoring and customer service initiatives. - **SG&A Expenses**: Increased significantly by $69 million to $388 million, primarily due to legal settlements, higher credit loss provisions, and share-based compensation costs. - **Operating Income**: Decreased to $284 million from $332 million. - **Net Income**: Remained stable at $92 million. - **Adjusted EBITDA**: Slightly down to $629 million from $641 million. - **Cash Flow**: Operating activities generated $927 million, up from $799 million, while investing activities used $633 million. - **Debt**: Total debt stood at $7.7 billion, with significant refinancing and redemption activities during the quarter. The company’s financial health remains robust, with stable revenue growth and effective cost management despite increased SG&A expenses. The exit from the solar business and the divestiture of the commercial segment are expected to streamline operations and focus on core security services. Future uncertainties include potential changes in interest rates and macroeconomic conditions.