ADT - Earnings call transcript Q3 2021

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Operator

Greetings. And welcome to ADT's Third Quarter 2021 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference call is being recorded. to conference like host, to now Greer. Jill would turn over the your I you. Thank

begin. may You

Jill Greer

Thanks, morning, also And quarter our operator. good acquisition earnings ADT's you pending call, third joining which Sunpro. we'll of use discuss everyone. to We appreciate

acquisition. will of discuss the Speaking President of and financial CEO, CFO Development, our - an our overview Jeff and Likosar. Jim recent ADT's Jim on be Sunpro then President and and growth will DeVries; strategy cover pending today's performance. our provide performance call Corporate and Jeff Jim will our

Operating Joining our of us details of for separate website Officer, we and Q&A on Don transaction. this financial Sunpro Earlier the of and are issued EVP a materials our results Porpora, presentation with press are also available release Chief at slide release Ken the morning, These a Young; investor.adt.com. Finance. our and

Before subject that we include materially need These remarks do to results forward-looking statements. forward-looking from tell risks today's that differ those to statements. to you start, cause actual I statements and are forward-looking could uncertainties

may differences Some factors that call. on non-GAAP SEC financial also cause of measures the our are described filings. the We'll in include

our earnings measures, to that, non-GAAP reconciliation refer to please our Jim. complete a turn the For press of with And over release. financial I'll call

James DeVries

in of perspective. quarter one Jeff third announced acquire welcome, few space. residential an this to to will morning but the in our ADT residential Jill, exciting into have quarter more in will the the call. we solar highlights an the to I'd ADT solar shortly, covering everyone, companies agreement as just Sunpro, Thanks, deal. day that a and expanding This like largest be my is for our our country, share an detail reached from residential footprint we all-stock be of financial results fast-growing

date. growth for initiatives quarter in to from is up X% our impact the RMR and with First, additions XX% reflected the our revenues,

our commercial year. in up rebound XX% the over with revenues nearly business Second, continues, last

Google in-house relationship recently, new Fourth, developed Third, on we're our making move just progress partnership good to exciting which continuing front with with leverages DoorDash, mobile platform. forward, the replacements. XG and the innovation an

Our field our objectives. well XG have technicians on and executed operation outstanding leaders

remain AT&T completed by and the for full completion have date. We on XXXX sunset successfully track XX% customers for February

overall, we Finally, solid track a on growth. while platform building deliver remain for future on XXXX our to simultaneously commitments,

executing ADT extraordinary our I Regarding growth to residential at by and brand, about iconic spend platform, our into our ADT our focusing in solar for been how is centered evolving that us. customers time in-home we're solutions an the one is trust strategy. security. some and our safe, Historically, complements want place of technology smart talking the underpinned brand, and move transformation deliver ADT management. segment customers on brand and has a sustainable a more safety, automation brand is around lifestyle will that our to by energy consumer ADT the

broadening presence broad ADT's range appeal automation segments solar Google as tech along management that markets to the market. to strategic fast-growing our and are as new Our with and energy footprint total aspects eco-friendly with in with our us a larger a much of home steps well provides addressable These customers. partnership forward

into to solar, past the to relationship, of our Google dimension few residential the new acceptance grown of home. solar segment for past several path billion as are with alliances an And integrated at analytics, exponentially increased middle provides and our for as only penetration. and market products growth with the strategic a we over ahead which formed partnerships significant which the Redfin see home customers $XX and a Expanding is to the best-in-class Demand experience the such more part years, in from the adding Additionally, an the pricing exciting path X% in evolution, already years become our the has integral consumer offering step, offerings transformation. DoorDash, want. expanding solar technology growing as residential attractive. beyond are new a we is has of next logical a ADT's We're has solar

the system come for bring equivalent addition confident of Jones, Mark simultaneously it now In worth while shareholders peace built into XXX,XXX we their benefits. A driving ADT's ADT over ADT a future. ADT to selling We're And their of mind and story. Sunpro's average to the and the what their savings team the as of to Founder the strategy. growth company, are a in will Mark great of optimistic where Jones for his residential be ADT pound solar, regarding environmental stock, and XX have bring The plus perfect in demonstrating talented Solar. years. branded can That's dioxide miles. XXX,XXX and executing course, customer-focused car in carbon that Solar have go-forward there are, our with significant X,XXX excited Sunpro. management about point CEO, solar proven family, offsets reiterating, consideration conviction We're a extremely we're solar employees partner taking

will ADT combining of selling solar, network particular, security, we and and In leading provide the anticipate our ADT's CSB solar will Solar ability market already whom With to recognized automation opportunity experience national the accelerate Solar over the region have most platform segment. of Sunpro ADT unique and the ADT customers, million Gulf Solar's and X reduce beyond currently the into scale acquisition have to for management. a energy in ADT's with players many brand and both scale industry of to opportunity segments. states we size, bundle operates. partners, to in the dealer best for cross-selling now other solar, where accomplished cross-sell home be markets costs Given Western our immediately with penetration we partnerships, ADT significantly have importantly, the the one residential packages to

regulatory the transaction expect we Regarding the closed approval, to of formal before and the be end. Solar process acquisition, we're year securing in

We Solar XX by Sunpro $XXX is Google enabling additional segment, will implement to months. us and business. attractive our million first XX.X ADT the cross-selling EBITDA Therefore, quickly and EPS CapEx. approximately ADT be owned be to million operate wholly stock. become subsidiary, note, XX therefore, shareholder funded acquisition to integration of as will to to during and times minimal, through our After closing, similar separate commercial ADT a a price will has point as while expect and, initial our at dealer hardware, it to An planning we enhanced minimal to value parts the shares other upgraded and and We're used initiatives, and year solutions. momentum pay of XX very EBITDA. deliver cash partnership immediately cash for flow deal also common XXXX key The and maintaining Solar to positive issuing monitoring in a business. of The taxes a free software and debt next Sunpro for accretive be our be amount of months the

and Google both deliver coming ADT experience Our in teams closely working term. to are customers, we and months the together ensure our high-quality a long for consistent, that

Doorbell thereafter. make nationally to shortly Google look launch with cameras thermostat in over with and good continue quarter We the the past to and progress January,

assuming work additional supply ensures line the supply On to demand. product that challenges, our the time chain customer of the install and course and year. constraints have despite will Our solutions expected on joint supply current DIY sequentially sufficient teams are engineering of we hand time are meet manageable, release and chain tracking line our during to pro

be more with innovative, upcoming exciting of all suite complete our new We're Google sharing forward you app that at for looking utility Day. transformative next-generation our our functionality our with confident expanding of platform, are will when initiatives technology and to integrated for We unlocking combined of our Investor ADT, products, customers. and

initiated a So in right security strategy. continue assertively strategic we years home a on building focusing growth with commercial for ago blocks place moves in shift smart into to several the and more automation. long-term closing, We put

the market. ADT's to the months quarter over cover into our phase will becoming choice. transformation launch coming smart and product more Jeff of residential And the the which accelerate turn third formal in unfold provider detail. with next of safe, I'll in sustainable it Our to Both solar now with Google and expansion to the will

Jeffrey Likosar

Jim, call With today. more from three everyone, initiatives growth our you, our you, of execution. we our and quarters complete, year for continue and thank solid operational performance the broader joining than Thank demonstrate to

quarter investment and The increased is RMR, up customer to in deliver third year-to-date. gross growth strong year-over-year with our growth RMR. on revenue, $XXX mid-teens was million. $X.X monthly billion of durable million objectives $XX results, with Our at acquisition just adjusted year which very recurring new XX% continued base additions revenue. company increase the additions $XXX million, for for an of $X.X up grew RMR to and resulting X% to to or billion, almost quarter last pace third We EBITDA year over full achieve revenue versus represents Total remain to annual

year-to-date included three plans. all these have is versus higher in quarters. contributed service investments with improved ranges. year previous updated newly ranges tracking end improved ahead we of of performance the original RMR Our towards outlook And our commercial our measures on our general full have growth, performance upper the changes, model we through effect XXXX of controls positively cost our headwinds improved recent a cost technology ownership trends, results Offsetting our which first to and non-cash months. and

channels in our and acquire customers tactics. space, large several only player As sales the through diverse scale we national

dealer this RMR and retention has Interactive accounts overall, than as average our strong net Services On by year, strong attrition these ownership million the year. XXXX home revenue customers grew helping effect for now revenue our the percentage transition more We channel year drive in and benefit Dealer-generated make increased other CSB, effect CSB additions and changes This is expected, returns reflecting And been our completed non-cash revenue beyond Consumer base, revenue segment months. our subscriber at and customer more next and our the Small Business, per X.X Our or versus we earlier Monitoring comprehensive XX Because of unit. first growth CSB of tenure XX-month we tail long average quarter. very new our nearly customers year. reduced basis, systems. include count been be selecting and throughout declined items our integration additions. increase increasingly year-over-year smart has integrated total Defenders. larger illustrates subscriber contributed significantly of strong solid is are XX% in the again RMR and significantly than the of particularly payback non-cash X% years. an customer Due up the planned. $XXX model last the and will of a X to in deliver highlights has strategy. of trailing the protection a Installation

segment. We also Commercial to performance continued improve in our

Commercial, and challenging Installation Monitoring these long-term XXXX, we navigating and EBITDA with up on our expanded with margin XX%, by lines with jobs. our balance to while achieved grew caused for revenue supply Other XX% optimistic chain after versus the Commercial dynamics Commercial recovery XX%. We a in continuing We quarter which last installation Third rate near-term Services a up and while Overall, year, focus. in some time results we pleased about trajectory. are certain and are challenges results

the sheet. and we a year. million flow in next-generation $XXX months platform. cash priority in generation was the cash balance of invest to growth X the even first RMR as Adjusted through subscriber remains free our Cash flow and Turning

for in narrowing RMR to $XXX we generated towards as guidance dealer mix accounts mentioned million $XXX growth are the year our I investments earlier. account to range continue full million and to prioritize We shift

efforts in XXXX as new our of a July quarter, maturities our past refinancing was debt. note. billion our With our the and last call, reduced several discussed meaningfully near sheet cost quarters, note over XXXX the our on the we $X addressed have Another balance with highlight of term

maturing Our this momentum approximately of the resulting the XXXX. very with results, until year capital with with is discussion comfortable business. now the our our years, middle of weighted structure X.X overall. We I'm progress and remain our debt average no summarize maturity To in pleased the very

CSB in overall our are initiatives is year's base challenges. our planned, and business As our last expanding recovering Commercial and well versus growth revenue RMR

advance to shape will continue objectives long-term also on support XXXX a XXXX We that our future. These that improves all our results.

like since compounded a flow. relatively $XXX at existing XXXX, to characteristics high in we of flow our great platform and ADT, a With contribute accelerate EBITDA XX is to intensity acquisition described. The Jim capital our more and our financial rate revenue, our during adjusted of exciting several broadens has Sunpro grown of growth. of including and our Sunpro rates residential the Sunpro revenue adjusted cash features profile months, than conversion. free for as to which It million cash excess step business business provides complementary portfolio, low next almost our are in XXX% immediately past an Additionally, Commercial is of growth to expecting CSB,

excited are business, Sunpro and we very completing coming look forward the We weeks. process during acquisition the by to the

host planning overall financial for about to XXXX. first quarter of guidance where share our are for the term framework now more and growth today. Investor call our we of open in We longer questions. our Operator, our please for Day call And next will acquisition, the thank Sunpro joining our strategy, details company. Thank you year, support you for your the

Operator

comes Please your Instructions] from America proceed first with Our [Operator Bisbee Securities. you. question question. Thank of Gary Bank with

Gary Bisbee

guys. morning. Good Hey,

few years, sense dramatically. on right when you slow of you over Is years? thinking how do a a sort sustainable? the with it - grown you next Some matures growth the think you I as profitable the exciting about is that And But Sunpro. obviously, is news XXX% are The it can there. Thanks. in next start that? - us me it likely CAGR to how give is it now? Or let about guess business couple of think question that

James DeVries

Good morning, just Gary. a at strategic couple It's contextual Jim. more I'll a give level. of responses,

to for we're been comment growth by super space positive super, well. and Jeff time. Obviously, they've some solar opportunities. all excited We've Ask We're given the flow. as had, especially acquisition, to EBITDA the that the attracted cash the excited

increase reasons. leveraging solar advantages an transition some can reasons would adjacent We that party leverage. Sunpro a shift service. and underway further in be our to the The renewable subscribers bring growth. of cross-selling attracted management accelerate team you for We customer we new a from first fantastic to to and assets we industry on energy. opportunity And an cross-selling the to Sunpro adoption, TAM There's residential to attracted are growth, rate, scale is can market to is will for accelerate our this has us, brand, the really handful all For to base, overall were were the our driving massive that able specifically that the ADT that think and ADT bringing our expect.

So ask to - some your address and of I'll Jeff specific questions.

Jeffrey Likosar

Yeah.

the market excited about here. space, us. the expanded larger the size to We're same of very the footprint, So very, available

from have profitable, growing in generated of One the they've in $XX month our company, XX infer anticipating but can the that during EBITDA And year. about cash that shared that, you bit a we're approximate been fast talked attractions been during they less range. $XXX is is revenue grown very our little positive the We the materials, growth. their have than million, million multiple, trailing forward that implicit in comments where we

our rate with get guidance. run means of we closed, continued course, for And detail the $X future. of we're cash our share the perspective it the revenue contribution approaching expecting we'll, So more and transaction from and conversion, once is growth. concurrent the a very rest billion. XXXX by excited We're what Strong then

Gary Bisbee

Okay. follow-up Great. another that. And maybe on just

impact I customers. a likely So understand could to have acquire on their to you how ability meaningful

ADT. Beyond synergies, And should think help there do directions, in say you there think Jim you think you are that, the play how Thank other can beyond about obvious how don’t an core you. help to synergies think we know as that is support I [indiscernible] I we transaction? that if did about both

James DeVries

Gary. Sure. Thanks,

to on out definitely it that chain, acquisition, supply like I with of bear some synergy helping smaller ADT meaningfully negotiating for has in talent bringing a revenue much There's things company. take a the think play just scale most principally opportunities, us. cost with

bundling we get interesting subscribers. plays think in I We're up brand at some revenue that And in our some revenue We've our opportunity as well. around opportunity the non-solar base, We done to what expansion into those margin on of base synergies. deploying synergies pick then together. cross-sell on synergies. well. tenders. cost looking is we us But research that incredibly tenders, principally, by synergy really solar to bit new a bullish home both can So and with side, mentioned cross-sell solar we're big opportunity the to the some and for - our to with things earlier, the know there's good with smart cost The

Gary Bisbee

Great. Thank you.

Operator

question next Sachs. Our comes your Please question. from Tong Goldman with proceed George with

George Tong

Hi, thanks. Good morning.

cross-sell underlying at revenue acquisition, synergies, you how into to much On Sunpro? just give the both Sunpro on the about you growth, base a point, to lift at acquisition the the and ADT of bundle. opportunity on potentially us touch can Can this last quantification talked and to

James DeVries

I'd say, XX give we're - think not XXXX. times on not what price, Jeff EBITDA. forward about attractive this shared, purchased we at ready we beyond really guidance - we're a George, to The

EBITDA So that, share specific to $XX that beyond about year implies of ready next numbers. an million. But we're not

Investor the We'll able guide. both cross-sell in One share ADT Obviously, We'll and currently cross-sell been really that, embedded more in And have of will got new that Day 'XX than be much be $XX things subs. of are going really, selling not million to share They've direct next that EBITDA who though us, specific companies. really will a dealers not other the numbers in our But and has But the to beyond Solar. dealer number with relationships That today. it's to confidence we're give successful. is suppliers' experience solar. the year. in I in not in more base QX. at we

Jeffrey Likosar

We counting effectively we mean, Jim add synergies. I'd you synergies. And consideration we good a I true. underwrote I'll models, ADT the think emphasize different of to company, bought it a the to imagine. George, variety we that, on stock. thing necessarily that model if also especially that without evaluated add, is via I can one true price, in for as want that's it's says, we it financial seller's

clear and the good price. part conversations buying So became in of it for a it

the were attracted ADT sellers So highly to stocks.

that to the gives also sense can that are what it together. just parties highly you attractive but two doesn't a So quantify synergies, both firms the do

George Tong

to it. and of That's a in year. quarter. revenue And also payback, it looking compares the looks last payback to at reflect growth. X.X then That X.X And you cash quarter helpful. narrowed flow went guidance last times revenue range Got more X.X like focus on with free the

those Are efficiency you your you how efficiency? moving SAC? in improving customers? seeing can any able overall in given you're talk parts, deploy acquiring efficiently about So your Or changes to

Ken Porpora

Hey, Ken take Porpora one It's Yes. George. that it's I'll here. if right.

As up X% well. with year are as last we're Again, the Versus growth. look COVID guys mentioned, about actually it in impact, XX%. I XXXX, at year-over-year XXXX we RMR versus up

in dealers more A But are about year So healthy added. a some for seeing if X.XX that there of at top good What see line X.X. growth as lot X the mix RMR these dealers that returns. payback killer our mix, you us. quarter, dealer is to you're economic to of expensive you is up the is that a killer directed a and think returns, having well. little - But the

life years, - with good happy we're we're RMR X added X.X of pieces. so X.X. to customer over extends This getting the additional that that the pushed up economic all average So that

have it bundling greater with well If as from that well the of of Google as revenue thinking over where time, now you efficiencies. and upsells revenue the of bring cost where especially standpoint, kind opportunities, forward as going it we brings a greater the and Solar, as of future efficiencies think the going, payback it, with bring with innovation products, the we about some some you're efficiency and can

returns, at as some So to right leg have again, passes. improve we room we're like Good economic still time strong now. but where

Jeffrey Likosar

And George, I'll add.

SaaS our you really due as the many adjusted guidance, pleased executing of and planned. tightened range growth the this overall know, We as end from we investment. range in to initial mentioned we're EBITDA our performance the come respects, year RMR on higher You and with revenue our - towards

balance our So underweight. XG adds to the if the the equates to RMR We're higher close on annualized, and the up LTE do $XX in at and at that, revenue just That the were you is balance, up higher million able year commercial finish end. on million. $XXX look line we end, to at the The mid-teens. EBITDA why

the we a very while we're So have left, months pleased year. of our couple with during performance

George Tong

Thank Very you. helpful.

Operator

Our question. with Please your next Kaplan Stanley. from comes Morgan with question Toni proceed

Jeff Goldstein

your increase given on Hey, more is Is Just how revenue Goldstein guys. you price right also the like-for-like mix basis of in in as pricing. that in think whole This an Toni. shift rising for you Jeff In mentioned actually slides, towards face inflation environment about the M&S Or on should a across pricing the benefited are market products? interactive a services? overall, getting especially the we average the now? from that

Jeffrey Likosar

some quarter-on-quarter, there largely, it's are confident revenues interactive high, for build. price pretty average continues of like video continue in service rates our increase the some The we are year-on-year. take looking up But at and our to be especially material Jeff, at services to this of selling time services, as an base point. for be we're that

service seeing mix going. we there in that of go at in in we increase are some main interactive, is and specifically when taking a the charge hard But that you're the customer a for look we that home, their video. what So and

Jeff Goldstein

you curious Okay. issues, new I'm running to then the think going any revenue any Are tech? when around to dissipate case, either the or because have forward? Fair is the if labor find any couldn't sacrificed And you side. do signed you then pressures, on you Thanks. expect are And your into labor? there on employee And you've end turnover expectation ability would any, enough. labor that if

James DeVries

area us. an focus absolutely is labor so - of It's Jim. it's Jeff, Yeah, for

just had a technicians the sales, our acquisition a strategies million working but the daily of say there's would of need. broad I for technician trial an think between it's candidates, And isn't shortages and Like positions, the the in challenge date, we're employers, immaterial part a something skills open talent care, and over lack X many to we a of range jobs. material across our have mismatch now impact customer us. US, sales, labor available impact I those to ability and of candidates install, but that on on through

So value as labor proposition been net-net, never more talent radar our market screen, date, making are an tight sure we've employee To important. no has is impact that a labor for on us. got and attractive material acquisition,

Jeff Goldstein

Got it. Thanks for the color.

Operator

Our next is from Sabadra Please with Capital with question your proceed RBC Ashish Markets. question.

Ashish Sabadra

Thanks my for question. taking

as Jim, you as about bandwidth as such now on potential the several - commercial Google think may are Thanks. which So on think areas could several areas, there are follow-up where to has and medias for to not areas Sunpro, be as initiatives mentioned, a that manage you ripe would Google divestiture potential ADT Commercial, comment the just be there core DIY, And you including so portfolio, so with for your well? and security, last years, over as DIY you there different management embarked -- Can initiatives? be are and now just maybe many that Sunpro. also, the

James DeVries

Sure.

really case And in a That's Sunpro that the of the acquisition Commercial. leadership done going about Ashish, a with the management feel Red teams case fortunate we those joining joined ADT from number we ADT. and have the companies So stayed that teams, management bandwidth with in leadership of That's we've the the been acquire case of the the organizations incredibly tuck-in have team that That's Hawk. DIY. perspective, acquisitions with good forward. we've

And autonomously. is We we're going be to heavy operating really the acquisitions all I integration, that a want of Commercial operating limited. be it at integration In ADT handle to getting that, retaining perspective. growth. of nimble pretty think Solar to our business as somehow leadership will addition Sunpro that from without and and the a benefits the the The from with focused ADT, stays a and be combination organization on we'll to talent lift able bandwidth ensure of

Ashish Sabadra

may as you maybe on ADT you within given business? address core could residential businesses just also rationalization. the be helpful Are not portfolio the which very That's believe, the color. And on focus question if the certain there,

James DeVries

that prospects up asking doing broke bit But continually businesses there. And You core. any think we're little us, a for of I the of were you a are the of divestiture that today, about review, conversation immediate Obviously, always no and businesses portfolio for value serious about the shareholders. how no divestiture. DIY, We're core our plans, our we're Sunpro, contemplating to in, unlock residential Commercial.

future. not perhaps it's of these screen businesses look a we there's at while think can't advantages radar in a I scenario. really on But So together. the we at lot to landscape, today, that, the Ashish, today, the see someday divestiture having least as And

Ashish Sabadra

That’s much. very very Thank helpful color. you

James DeVries

you. Thank

Operator

Our Brian your with Please proceed next from Capital. Ruttenbur with Imperial question comes question.

Brian Ruttenbur

much. Yes. acquisition Congratulations Thank the you quarter. very on the and

So just a company. going automation you've home company back a little a security to history, gone from

get us Is you're more the ADT? of is and video? what's missing? of you are now add What Can services? what into you next? You're you that. it where totally out missing the solar, future pieces need Do and I additional tell portfolio you to But add hardware? Do need to

James DeVries

feeling things to We're around of about mobile that good We're do at interesting area improve the is we portfolio. adjacent existing our now cases existing We're we product. bit. an markets. we've expanding TAM that product. on some the in on Auto use to Yeah. leverage use feel today. Health kick area is tires how pretty a contemplated. really we pretty cases, innovative A our where increase But looking looking lot stand Brian, at effort good, an opportunities is we

product of And improve integrated the we're As doing work and that at and read interactive, with industry. unveiled building end and around you a really XXXX. own product the monitoring be Google working will that ADT+ know, of our called to lot we're smart monitoring,

our in we see make hole a So not to we've to opportunities don't innovate see to conclude I'd with better. there's got - but line-up, we what continue

Brian Ruttenbur

Great. Thank you.

about with led a of kind my the follow-up, - As talking Google update. you in

road agreement to of just you Google by with have a map ready going to need mid-XXXX? to go partnership to timing mid-XXXX. a I that? a going ready kind extend software believe, have - you Or Alarm.com, are that. of give Are ADT the partnership So go bit and Or you until me little to the Google

Don Young

Yeah.

in partnership future. So Brian, foreseeable The with continue is this ADT will Don. the

We At out a sometime time, platform. DIY continue We'll actually of the on and both we've some our community on the for platforms that of launching looking develop own those plan continue the those have mature them. in in and seamless use platform, customers we'll control a to that lot to until But which deployment. upgrade future, rolling X. They forward customers interactive rolling will sense the our same perhaps platform, November partner. to success makes to platforms. ahead out stay of We're was well Pulse it recent we're and had it

we're really we're excited bullish in the we'll So milestones, to but things Investor be go Day. specifics that to and going discuss get XXXX. roll can't assume of out able that really, into some We about

Brian Ruttenbur

up to that, Just real quick. follow on Don,

you beta? more November it is it actual DIY the On Or X, it started rolling live is out to customers? to, the

Don Young

No. It's live.

And XXX,XXX what a placed have platform, into intend experiment, little an customers. DIFM It's to of but whatsoever. that to always days newer that platform. us the we issues XX almost, and the we to customers a we're that handful We ahead say not we just I'm live the we one have still now with happy our DIY since plan case about But having future. call no go and it had of using use over in we the that for were older with version customers

Brian Ruttenbur

you. Thank Great.

Jill Greer

going That's to Thanks, quick turn back our going closing portion a for to up Jim analyst to it wrap Don. I'm call. of comment. the

James DeVries

Thanks, Jill.

quarter, collective I'm I'd extend like closing, appreciation dealers. So employees a and We to to strong proud quarter. a had your ADT our my terrific efforts. of in

our couldn't be excited next of launch Sunpro Solar. phase I'd of and course, our formally welcome ADT growth family, the to for like this to ADT Of more

and you. looking everyone Thanks thank of So for our call as the ahead. to optimistic the as We're earnings year this and day, a head well looking forward joining morning. finishing as good growth - Have ADT's you. strong, the to everybody, thank future well forward growth about

Operator

This concludes today's conference.

your may for lines you at your participation. and thank this time, we You disconnect

ADT (ADT) 9 Nov 212021 Q3 Earnings call transcript