Tag: Jim DeVries
ADT holds strong and achieves record RMR in Q1 2023, stumbles on solar
May 3, 2023Ken Showers, Managing Editor
BOCA RATON, Fla. – It was a solid quarter for growth with ADT on this year’s 2023 Q1 earnings call, with only a small cloud blocking the sun.
To make note of some of the highlights from the report: total revenue of $1.6 billion, up 4 percent, and end-of-period recurring monthly revenue (RMR) record of $378 million, up 4 percent featuring high customer retention with gross customer revenue attrition maintaining record low of 12.5 percent. President and CEO Jim DeVries attributed...
ADT Q4 sees record-high retention, recurring monthly revenue
March 1, 2023Ken Showers, Managing Editor
BOCA RATON, Fl. – ADT Inc. has seen its fourth consecutive financial quarter results hit record highs as the company released its results on Feb. 28.
Of note the company pulled in a Q4 total revenue of $1.6 billion, up 19 percent from last year, 8 percent when excluding solar and end-of-period recurring monthly revenues. ADT also boasted record-high customer retention with a gross customer revenue attrition rate of 12.5 percent. The company’s total revenue was...
Wayne Thorsen appointed to ADT EVP, chief business officer
January 9, 2023SSN Staff
BOCA RATON, Fla. – ADT announced that is has appointed Wayne Thorsen to the newly created role of executive vice president and chief business officer, effective immediately.
ADT stated that Thorsen will be responsible for leading the company’s product, innovation, and new business development teams. Thorsen comes to ADT from Google where he served as Vice President of Devices and Services Business Development. Thorsen has also held leadership roles at Viacom, Telefónica Digital,...
ADT appoints Jamie Haenggi to lead ADT Solar
December 16, 2022SSN Staff
BOCA RATON, Fla. – ADT announced that Jamie Haenggi has been appointed to lead its ADT Solar division.
Haenggi has served as executive vice president and chief operating officer for ADT Solar since March and now leads all functions within the division according to ADT. Sunpro founder, and previous ADT Solar executive vice president Marc Jones will serve as senior advisor to Haenggi.
Joining in 2016, Haenggi has held executive roles within sales, marketing, and customer experience...
ADT presents Q3 fiscal results
November 4, 2022Ken Showers, Managing Editor
BOCA RATON, Fla.—Security giant ADT released its fiscal third quarter financial results this week, highlighting monthly revenue and partnerships.
President and CEO Jim DeVries described ADT’s performance in the third fiscal quarter as strong with top line growth at 22 percent to $1.6 billion. It generated an adjusted net income of $83 million ($0.10 per share). DeVries also said the quarter resulted in an improved adjusted EBITDA that was up 12 percent year over year.
In...
ADT announces State Farm investment, partnership
September 6, 2022SSN Staff
BOCA RATON, Fla. and BLOOMINGTON, Ill.—ADT has announced it will receive a $1.2 billion equity investment from State Farm, resulting in the home insurance provider owning approximately 15 percent of the company after the equity investment and the tender offer close.
This investment will allow State Farm to acquire 133.3 million shares of ADT’s common stock at $9 per share.
In addition, ADT plans to partner with State Farm and build upon its existing relationship...
ADT reports second-quarter results
August 4, 2022Ken Showers, Managing Editor
BOCA RATON, Fla.—Smart home and small business security provider ADT released its second-quarter results today during an earnings call, with strong growth indicators and optimism for the third and fourth quarters.
The tone of the call was positive focusing on yearly gains and a positive look at financial outcomes for the rest of 2022.
“We delivered what I believe is our best quarter ever at ADT,” said ADT President and CEO Jim DeVries. A snapshot of the financials shows a...
ADT publishes 2021 environment, social and governance (ESG) report
May 5, 2022SSN Staff
BOCA RATON, Fla.—ADT Inc., the most trusted brand in smart home and small business security, today published its 2021 environmental, social and governance (ESG) report detailing the steps the company has taken to advance its ESG program.
“Respecting the environment, promoting social responsibility and leading with responsible governance are fundamental to who ADT is and guide our safe, smart and sustainable business practices,” said ADT President and CEO Jim DeVries....
ADT reports fourth quarter and full-year 2021 results
March 1, 2022SSN Staff
BOCA RATON, Fla.—ADT Inc., the most trusted brand in smart home and small business security, has reported results for the fourth quarter and full year 2021.
FOURTH QUARTER 2021 (variances on a year-over-year basis)
Total revenue of $1.4 billion, up 5 percent
End-of-period RMR (recurring monthly revenue) of $359 million, up 5 percent
Sequential and year-over-year net subscriber growth; total subscribers of 6.6 million
Customer retention with gross customer revenue...
ADT completes acquisition of Sunpro Solar
December 9, 2021SSN Staff
BOCA RATON, Fla.—ADT Inc., the most trusted brand in smart home and small business security, announced it has completed its acquisition of Sunpro Solar.
With the acquisition of Sunpro Solar, ADT is introducing ADT Solar, which will provide customers with rooftop solar and energy storage solutions to increase their energy independence and help them save money on their energy expenses. Sunpro currently operates in 22 states, and ADT Solar plans to expand to more markets across the U.S.
“The...