• CEPro_logo_blue-new
  • TOPICS
      • News
        • People & Places
        • Product Briefs
      • Projects
      • Events
      • Control
        • Central Vac
        • Energy/Power
        • HVAC/IAQ
        • Interfaces/Devices
        • Lighting
        • Motorized Shades
        • Whole House Systems
      • Audio/Video
        • Audio/Video
        • AV Accessories
        • AV Racks
        • Cabling
        • Displays
        • Furniture
        • Headphones
        • Home Theater
        • Media
        • Mounts/Lifts
        • Multiroom AV
        • Projectors/Screens
        • Speakers/Subwoofers
        • Wireless AV
      • Security
        • Access Control
        • Alarms/Sensors
        • Services/Platforms
        • Surveillance/Cameras
      • Business Support
        • Associations/Buying Groups
        • Cell Phone Boosters
        • Distributors/Reps
        • Operations
        • Recurring Revenue
        • Research
        • Sales/Marketing
        • Software Services
        • Tools/Testers
      • Networking
        • Cellular
        • Devices/Equipment
        • Wireless
        • Wired/Installation
      • Markets
        • Builders
        • Commercial
        • Design
        • Europe
        • Outdoors
        • Resimercial
        • Wellness
      • CE Pro Hub Pages
        • Bose
        • Savant
        • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-iQ
  • SUBSCRIBE
    • CEDIA SHOW UPDATES
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
  • DISCOVER
    • CEDIA Expo
      • September 29 – October 1
        Dallas, TX
      • VISIT SITE
    • KBIS
      • February 8 – 10
        Orlando, FL
      • VISIT SITE
    • Total Tech Summit
      • October 26 – 28
        Orlando, FL
      • VISIT SITE
    • Commercial Integrator
      • VISIT SITE
    • Security Sales
      • VISIT SITE
    • Tech Decisions
      • VISIT SITE
    • Campus Safety
      • VISIT SITE
    • Design Well
      • VISIT SITE
    • KBB Online
      • VISIT SITE
    • AV-iQ
      • VISIT SITE
    • CE Pro-iQ
      • VISIT SITE
  • Search
  • TOPICS
    • News
      • People & Places
      • Product Briefs
    • Projects
    • Events
    • Control
      • Central Vac
      • Energy/Power
      • HVAC/IAQ
      • Interfaces/Devices
      • Lighting
      • Motorized Shades
      • Whole House Systems
    • Audio/Video
      • Audio/Video
      • AV Accessories
      • AV Racks
      • Cabling
      • Displays
      • Furniture
      • Headphones
      • Home Theater
      • Media
      • Mounts/Lifts
      • Multiroom AV
      • Projectors/Screens
      • Speakers/Subwoofers
      • Wireless AV
    • Security
      • Access Control
      • Alarms/Sensors
      • Services/Platforms
      • Surveillance/Cameras
    • Business Support
      • Associations/Buying Groups
      • Cell Phone Boosters
      • Distributors/Reps
      • Operations
      • Recurring Revenue
      • Research
      • Sales/Marketing
      • Software Services
      • Tools/Testers
    • Networking
      • Cellular
      • Devices/Equipment
      • Wireless
      • Wired/Installation
    • Markets
      • Builders
      • Commercial
      • Design
      • Europe
      • Outdoors
      • Resimercial
      • Wellness
    • CE Pro Hub Pages
      • Savant
      • Bose
      • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-IQ
  • SUBSCRIBE
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
    • CEDIA SHOW UPDATES
  • DISCOVER
    • Cedia Expo
      VISIT SITE
    • Commercial Integrator
      VISIT SITE
    • Security Sales
      VISIT SITE
    • Tech Decisions
      VISIT SITE
    • Campus Safety
      VISIT SITE
    • Design Well
      VISIT SITE
    • Total Tech Summit
      VISIT SITE
    • KBB Online
      VISIT SITE
    • AV-iQ
    • CE Pro-iQ
M
POPULAR SEARCHES
News
Projects
Control
Audio Video
Security
Business Support
Markets
SUBSCRIBE CEDIA EXPO
CEPro 100 | Control | Interfaces/Devices | News | Whole-House Systems
August 4, 2022

Google Nest Partnership Helps Spur ADT Revenues

ADT revenues driven to $1.6B for quarter. Nearly half of all installations had Google Nest device as upsell attachment.
Jason Knott  
Article:
CEPro 100 | Control | Interfaces/Devices | News | Whole-House Systems
August 4, 2022

Google Nest Partnership Helps Spur ADT Revenues

ADT‘s new Virtual Assistance program and its expanded partnership with Google Nest appear to be already resulting in solid dividends for the company. Not only were Q2 revenues up for ADT (NYSE: ADT) by a whopping 23% year over year, but the company flipped its net income from a massive loss to a big gain. The company’s Q2 revenues hits $1.6 billion, up from $1.3 billion last year, while its net income shifted from a loss of $126 million to a profit of $96 million. EBITDA rose from $542 million to $597 million.

With that strong performance under its belt, the No. 1 company in the CE Pro 100 affirmed its guidance for its full year revenues between $6.2 billion to $6.4 billion, and its EBITDA to come in between $2.3 billion and $2.4 billion.

The solid second quarter results were driven by a multitude of factors, according to the company, including:

  • Recurring monthly revenue (RMR) of $369 million, up 5%
  • Record high customer retention with gross customer revenue attrition at 12.7%
  • Lower revenue payback time of 2.2 years, meaning the company’s breakeven point on a subsidized installation

“We demonstrated tremendous momentum in our business and delivered record high customer retention, our highest-ever recurring monthly revenue balance, and our first reported positive adjusted net income since our IPO,” says ADT President and CEO Jim DeVries. “With our team dedicated to providing unrivaled service to our customers, ADT’s progress continues on our key initiatives outlined earlier this year during our Investor Day to meaningfully grow our revenue, earnings, and cash flows through 2025.”

In addition to its core security/smart home business, the company highlighted the strength of its solar business, commercial sector, and its new ADT Virtual Assistance program that offers clients a 30-minute free video service call. The program was piloted and then rolled out nationally in July. During the second quarter, the company performed 230,000 virtual service calls.

Learn the Art of Landscape Lighting Design

Experts recommend landscape lighting design as an entry point for integrators into the revenue opportunity of home lighting. Check out our new resource for tips and best practices. Download "Learning the Skill and Art of Landscape Lighting Design” today!.

Also, ADT touted its Google (Nasdaq: GOOG) partnership in which it nationally sells, installs, and services a full suite of Nest products, including doorbells, cameras, and thermostats. During the second quarter of 2022, the attachment rate for the Google doorbell was 48%, helping drive a 23% increase in residential installation revenue per unit in the quarter.

ABOUT THE AUTHOR

Jason Knott
Follow
Jason Knott:
Jason Knott is Chief Content Officer for Emerald's Connected Brands. Jason has covered low-voltage electronics as an editor since 1990, serving as editor and publisher of Security Sales & Integration. He joined CE Pro in 2000 and serves as Editor-in-Chief of that brand. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He has been a member of the CEDIA Business Working Group since 2010. Jason graduated from the University of Southern California.
View Jason Knott's complete profile

ARTICLE TOPICS

CEPro 100 • Control • Interfaces/Devices • News • Whole-House Systems

ARTICLE TAGS

ADT • Google • Google Nest • Nest • RMR

SHARE

Share On Facebook
Share On Twitter
Share On Linkedin
Share On Whatsapp
Share Via Email
Copy URL
← Previous Article Next Article →
Article ControlNewsSecurityServices/PlatformsWhole-House Systems

Alarm.com Reports ‘Solid’ 12.7% Q2 Revenue Gain

Alarm.com says security and mart home markets remain ‘healthy’ and increases its full-year revenue outlook to $518.5M to $519M.
Article Audio/VideoHome TheaterMediaMultiroom AVNewsSpeakers/SubwoofersWireless AV

Sonos Q3 Revenues Dip; Drastically Lowers Outlook

Sonos cites an 'uncertain' economy and a dip in spending on in-home tech products in its Q3 revenues report.
Article ControlNewsSecurityServices/PlatformsWhole-House Systems

Alarm.com Reports ‘Solid’ 12.7% Q2 Revenue Gain

Alarm.com says security and mart home markets remain ‘healthy’ and increases its full-year revenue outlook to $518.5M to $519M.
Article CEPro 100NewsRecurring Revenue

Vivint Nets $104M for Canadian Accounts; Grows Q2 Revenues by 15%

Vivint reports solid revenue growth and lower account attrition following the sale of its Canadian subscriber accounts.

SHOW NEWSLETTER

Sign Up

CE Pro

Subscribe Sign Up

Content Types

News
Products
Projects
Companies
Downloads
Webcasts
Podcasts
Events

Specials

IntegratorJobs
CEDIA EXPO
CE Pro 100
CE Pro Summit
Awards Programs

Company Info

About
Contact Us
Customer Service
Media Solutions & Advertising

Subscribe

Magazine
Newsletters
Digital Edition

Connect

Twitter
Facebook
LinkedIn
YouTube
RSS Feed

Categories

AUDIO/VIDEO
AV Accessories
AV Racks
Amplifiers/Receivers
Cabling
Displays
Furniture
Mounts/Lifts
Multiroom AV
Projector Screens
Speakers/Subwoofers
Wireless AV
CONTROL
Central Vac
Energy/Power
Interfaces/Devices
HVAC/IAQ
Lighting
Motorized Shades
Whole-House Systems
NETWORKING
Cellular
Devices/Equipment
Wireless
Wiring/Installation
SECURITY
Access Control
Alarms/Sensors
Services/Platforms
Surveillance Cameras
BUSINESS SUPPORT
Associations/Buying Groups
Distributors/Reps
Operations
Recurring Revenue
Research
Sales/Marketing
Software/Services
Tools/Testers
MARKETS
Builders
Commercial
Design
Europe
Outdoors
Wellness
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow

© 2021 Emerald X, LLC. All Rights Reserved.

  • ABOUT
  • CAREERS
  • TERMS OF USE
  • PRIVACY POLICY