Tag: recurring monthly revenue (RMR)

BOCA RATON, Fla. – ADT shook things up by preempting its second fiscal quarter 2023 earnings call with the news that the company is divesting itself of its commercial business. As reported earlier by Security Systems News the company has entered into a definitive agreement to sell its commercial security, fire and life safety business unit to private equity firm GTCR for a purchase price of $1.6 billion. The transaction has been approved by the company’s board of directors and is expected...

OGDEN, Utah – Becklar, a safety solutions provider for enterprises and individuals, as well as the parent company of AvantGuard, Armstrongs and Freeus, has announced the acquisition of Eyeforce. A provider of monitored remote guarding solutions, Eyeforce combines video surveillance with AI/machine learning analytics and a live operator to protect commercial property. Becklar says that combining these services with its enterprise monitoring, personal health and safety, and workforce...

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...

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...