12/23/2023 0 Comments Vivint smart home business card![]() This increase was offset by a decrease of $4.0 million associated with lower AMRU. Total Subscribers increased by 8.2% during the three-month period ended September 30, 2020, which accounted for approximately $23.5 million of the increase in revenue. The Company reported total revenues of $319.0 million for the three-month period ended September 30, 2020, an increase of $28.2 million or 9.7%, as compared to the same period in 2019. Our LTM attrition rate for Q3 was the lowest in the past 7 quarters, and I believe it speaks to the fact that our core value proposition-proven over two decades-of reliably taking care of our customers and their families, is as relevant today as ever.” “Notably, the last twelve-month attrition rate improved by nearly a full point in the quarter and continues to exceed our forecasts. “As we continue our focus on optimizing the business, we saw solid improvement across the board in many of our key performance metrics for the quarter,” continued Pedersen. Finally, we have stated our desire to operate the business in a more cash efficient way, and we are tracking to be cash flow positive by more than $100 million in 2020.” Our adjusted EBITDA margins continued to build upon previous quarters and expanded to new highs. Touching briefly on a few financial highlights for the quarter, total revenue and total subscribers grew by nearly 10 percent, reflecting healthy consumer demand for smart home and security services, along with our ability to retain a higher percentage of our customer portfolio. ![]() ![]() “Our results underscore the importance of having a proprietary, fully integrated, AI-driven smart home platform, which is the backbone of our predictable and consistent recurring revenue model. “We are pleased to report another quarter of very strong performance,” said Todd Pedersen, CEO of Vivint. (NYSE: VVNT), a leading smart home company, today reported financial and operational results for the third quarter and nine months ended September 30, 2020. PROVO, Utah-( BUSINESS WIRE)- Vivint Smart Home, Inc. ![]()
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