ADT - Earnings call transcript Q4 2024

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Operator

Thank you for standing by. My name is Rebecca, and I will be your conference operator today. At this time, I would like to welcome everyone to the ADT Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Elizabeth Landers with ADT Investor Relations. ahead. go Please

Elizabeth Landers

and today's operator, Full everyone. appreciate We XXXX Thank to good discuss joining call and ADT's you results. you, morning, Fourth year Quarter

Jim ADT's Speaking Likosar. Jeff President will today's our be on and Financial call CEO, DeVries; Officer, and Chief Chairman,

remarks, Following the analyst have we'll prepared for time questions.

through press call results uncertainties sale we measures statements call, business, second measures amounts presentation differ to to [indiscernible] related the the over the risks and are that, commercial operations, and the measures, except These the with along this morning, subject release that flow include to Earlier for and the could on which of date Jim. with GAAP cause through actual happy and [indiscernible] to issued a XXXX. most the comparable of slide non-GAAP cash directly quarter to I'm materially forward-looking turn

James DeVries

XXXX. later. revenue our $X.X Good outlook want X%. our record morning, provide up for I monthly objectives. record XX%, shared highlight retention Revenue in customer will our billion [indiscernible] we especially our detail high XXXX everyone, earnings with our as recurring Jeff balance, more consistent release, was and But

from per of of continuing net million or $XXX $X.XX We adjusted generated diluted income increase an share, operations XX%.

free $XXX flow, was million. Our swaps, adjusted to cash including XX% up rate interest

is business. market now ADT As on a This reminder, following and our smart the our [indiscernible]. solar completely focused is home security wind in XXXX, growing of operation down core to and large

in business. as our small growing at the well incremental footprint So within place as residential excited and

will of premium sustainable safety continue innovative and best-in-class safe, in offerings a service customers state unrivaled customers. offerings our to our experience. customer X also XXX strategy celebrated our We , to areas: smart for [indiscernible] anchor and [indiscernible] our solutions

a of now a milestone which new accomplished customers. entire significant To launching across ADT proprietary platform, available our we to growing very by percentage is + our during the XXXX this end, country

thousands and flexibility App and and [indiscernible] the hardware feedback other refreshed [indiscernible] user provides configurability reviews end Google several across cases Apple new platform Our of stars and use Store. X.X Play Store averaging

platform Our will experiences needs. we the innovate individual tailored foundation and unique our to which customers' ADTs build is in

is issues this the launched we of third delivery codes year, type event quarter a like via with access last ways water example grant which or We're individuals are to customized for of urgent face secure our to as leaks. able feature. enabling grant neighbor's experience such first combination innovative their package trusted every such phone, of in with neighbor, The the on as app in ADTs secure access excited or to more also homes, familiar Google about customers trusted customers the [indiscernible]

the was Security with as of the ADT's awards we customers. Year Home protects ADT commitment underscoring to initial and at annual ninth and are the results trusted named pleased home are receiving customer and reimagining We neighbor connects security of technology the how feedback, Internet Innovation breakthrough advancing Things

the heart well-informed the responders every our features, and plan threat and underscore national safety, the do proud a to delivering of Accordingly, unrivaled including what our I provide and of the able we're While action. day. home implement as and new be the first the we're determined to company standard a we're customers want million on offer first at to This XX to scoring can with by help level. real-time energized to we customers, adopt focused alarm them details information of crucial known X.X also capabilities historical validation AVS is quickly standard to trust that uses severity smart security

also alarm ratings title significant to Award, and trusted the a sixth proud Research. the based for consecutive earned year on to ADT's security the earned consumer We're have the Monitoring Year home contribution study the Association's again Monitoring of industry in Center by brand customer most ADT recognizing exceptional Additionally, of system the Lifestory conducted service.

best-in-class from call We experience. improvements satisfaction continuous perception service, our significant customer in Another XXXX onboarding with and improved and continued was customer to highlight our in enhance our areas, virtual various overall deliver measurements customer improvements several including customer the resulting improvements resolution first processes.

contributed we in to able investment also in operating The customer strong our increasing I'm record cost ADT's to while enabled We level rewarding And were results with financial and these resulting were improvements kind retention. drive proud savings efficiency. continued business. our that

many While initiatives progress. contributed our to

and progress service very we our early made are with efforts. pleased the intelligence We artificial virtual with especially

more For and successfully thousands rolls service contributing field the in-person remote our in to than service conducting rather we alternatives costs. full avoiding cost-efficient truck reductions of resolved year, service utilizing calls visits,

we efficient interactions. with more a Additionally, with Sierra focused telephonic call for intelligence especially artificial resolving expeditious partnership on and customer our center, formally of need objective by reducing an the lengthy needs in launched process,

which also go-to-market on made our State process product the and configurations rollout we and continue DIY our improvements, now have alternatives. in focus we when of in with solutions We in XXXX, in platform new counts. concurrent Farm, self-setup to available launch leak XX with channels the included the our pricing dealer such bundles, including brand sales or second detection ADT+ make and progress flexibility several such to partners with offers enhancements whom more progress steady and every continue efficiency states During new in go-to-market select several of states as as we

expansion sales customers. specifically features of platform channels to our availability capabilities and new capabilities. XXXX, of additional across existing our includes new to percentage and to customers, enter we customers execution enable further available As strategy to continue our large of optimize our some ADT+ to a objectives are the importantly, launch and developed of enjoy primary This newly the

includes our also customer enjoyed XXXX. stronger exiting professional on entering emphasis It where even momentum we particularly residential focus and additions install core and strong XXXX

we [indiscernible] structure, of pricing bundling, subscriber optimize cost. offerings, our messages experience marketing our acquisition more segments Additionally, and our to and drive appeal new our efficiency sales to customers approaches refinement go-to-market in with and will as we the improve of process build including our

use exploring towards We needs, customer offerings, product systems biometrics, means consumer and our aging configurations via include innovating their with grant such such early place specific access or will continue to customer cases to in which based enhance feedback. as of oriented additional access ways as on new our which or to customers surveillance or enhanced pets may can also input and others app

while We're for at of example, to customers' beyond home capabilities resolution remediation efficiency system advance initiatives, and continued service with and core security initiatives include to, diagnosis I broadened center include service issue doing And these remote meaningfully rate progress on this expect continuing WiFi artificial our as we initiative objective exiting on in network with progress issues. earlier, volume of continued our the run mentioned centers. year our of intelligence call reduced a call an

I our cash share to XXXX continued returns. very momentarily but want flow and disciplined capital outlook and allocation intentional financial to will we generate with more that Jeff about remain free shareholder commitment underscore in our

prices We is to our us plan commitment enables authorization million very financial significant This share attractively shareholders. at and directly reduction recent our recent stock the return repurchase to this XXXX announced leverage anchors plans repurchase and our debt morning. believe enabled capital combined we our and valued $XXX share our with

our for gratitude I'm all want just returns. to Before audience State and of Google. very and to to to honored to contributions and on a am take XX,XXX strong company my its employees, our time nearly I to I business are your generating I grateful the this express we including Farm for for turn our dealers the and call moment over this our Jeff, partners, XXXst into call, Thank the today. stakeholders, you committed positive year. outcomes lead equity

through XXXX and to financial share for the results take will financial you XXXX. turn Jeff our our detail in I'll who now guidance call over more

Jeffrey Likosar

few and Thanks, Jim, everyone, XXXX turn detail I'll minutes our you, today. take call joining to performance some on guidance. our financial then for additional to our next share thank XXXX and the

the flow including we discipline very interest million continued capital strong especially improvements. XX% an in is fourth XXXX. outcome of growth, financial $XXX continued In increase rate revenue over million year, and adjusted overall and $XXX the free swaps the results, our operational structure result I'm cost overall with full for pleased of This growth. efficiency, flow, cash our cash XXXX delivered quarter,

key growth earnings for XX% $XXX adjusted operations continuing from per income was net adjusted XXXX in Another of our on share highlight to million. $X.XX

by revenue the up grew a gross or average year, which year. was services retention. new Installation and the year customer was XX%. We million, customer additions revenue $XXX the primarily billion for additions $XX.X full RMR higher record strong fourth the million for generated full Total for $X.X quarter for $X.X of pricing $XXX the million balance, RMR and XXX,XXX and from and benefited up driven X% year, for Monitoring billion revenue X%.

on prior This the and acquires which up here Outright XX% than The model, homes. retained the ADT ownership quarter more ownership installed from of doubled to new year a sales in revenue the for key fourth in is the our year. most equipment. ADT+ that subscriber of additions was driver under is the for relevant customers' customer platform, our historic transition equipment compared

also improvements, years. installations trend Gross up from reflecting strong full at subscriber unit a towards was efficient for service superior per $X,XXX as of was company-owned year. under contributed larger related X.X Installation retention acquisition revenue higher our customer deferred XX.X%, the cancellations. partially offset nonpayment model by by of sizes Amortization approximately system and to revenue XX% payback revenue our revenue remained record attrition the

year, operations Adjusted quarter, $XXX billion the the of for increase EBITDA from continuing and X%. million for was $X.X an

We revenue capital offset and including disciplined progress These from to was our service to primarily partially in our investments in by of objectives. enhanced For and virtual improvements growth capital initiatives very both actions, Jim allocation benefit longer-term performance innovation periods, and the improved attributable structure. our continue with mentioned. efficiency the flexibility remain were

finished below leverage highlight committed debt hand no at is the we the adjusted A $XXX million cash X.X noteworthy unrestricted to X.Xx revolver under balance. our We threshold and with EBITDA outstanding on of with reach. just reduced year net

from $X.X net debt ending $XXX XXXX. down approximately Our of billion was million

approximately remains Our a rate overall interest of very X.X%. with efficient weighted capital average structure

XXXX spread incremental by existing and on the We refinanced Term million year. continued our B methodical our million to XXXX. transactions $XXX and loan past revolving extended credit We with We which maturity. million April Loan by $XXX XXXX. remaining term during our have We our debt in at A notes lien interest the several basis its of first we Term Loan our B maturity upsized XX the points, improvements, reduced repaid $XXX maturing facility include

XXXX in in interest million our total, debt transactions mandatory $XX and $XX amortization payments. In reduced million

another be commitments week. expect than to this month, our basis earlier notes spread we we tighter term reflecting which new facility recently proceeds this issued million $XXX earlier repriced is set next a April we to for a on lender close redemption loan which We notice interest Additionally, of XX secured X-year million existing the first this $XXX our The confidence points to investor business. in repay loan, plan XXXX use term to new month. our for

to returns. we Jim that quarterly XXXX. shareholder committed million, aggregate And dividend, an $XXX $XXX January authorization, increased As and million generating shares price including of of in our we during increase our million million a XXXX we $XXX to over distributing repurchase mentioned, retired XX% XX for are end, under XXXX XXXX,

plans monthly efficient SAC. growing cost our and our recurring overall resilient increasingly to operating are discipline XXXX, and anchored Turning and on revenue,

allocation our and to balanced continuing capital disciplined are commitment to We cash emphasize shareholder returns. generation, and

cash continued million flexibility earlier. our a generation mentioned share new Our in capital confidence authorization $XXX Jim repurchase and enabled allocation

XXXX. targeting $XXX We of range including flow, cash growth million to to we swaps are free in be strong $XXX adjusted expect in in million a again which

of a cash and significant some this driven following XX% increase we the taxpayer year. represents become overall as XX% SAC last growth. efficiency, more improvement our pressure than this midpoint, At profitability This which an is year's by offset more

We EBITDA. our meaningful growth share, continued and also per expect adjusted earnings in revenue

in midpoint. underlying We XXXX includes our and of profitability XXXX. of earnings to the some of from are $X.XX, count in anticipated growth in to share repurchases lower and share adjusted X% $X.XX This guiding the repurchases benefit per at an increase

mentioned transition The a to full from shifts an driven billion range our ownership rather continued P&L growth This acquisition the remainder the $X.XXX expect is X% and of in to billion, I subscriber midpoint ADT+ of with historic of X%. increase revenue revenue revenue at capitalization amortization by M&S growing our as than platform, installation model approximately year our We $X.XXX effectively costs model. rollout earlier. by

by growth of cloud billion our planned the increasingly expect M&S than EBITDA EBITDA with cost to capitalized. we Additionally, are but adjusted midpoint. that in at expenses headwinds pressured be incurring to were $X.XX and expenditures billion EBITDA in These associated the net noncash transition, range more our We, revenue are offset up X% overall previously replacing therefore, efficiencies. growth $X.XX

expect be is Consistent metrics. especially due to first quarter with guidance cash to quarter This our interest. growth and the several patterns, items, seasonality all of some we historic our across the lowest timing

Before close our outlined strong delivery turning to by exceptionally to want objectives XXXX overall and we of ago. the year again I questions, highlighting performance a

pleased the results future also We these have Jim for solid his to generated are the mentioned in especially and while remarks. accomplishing investing milestones

again, early Finally, to our will XXXX. for generate returns. contributions the to dealers, in and capital our deliver for cash everyone, our commitment and of our our underscore to you again grateful I delivering the XXXX strong for today. strength Thank and our I'm of shareholder partners results ability momentum investors joining structure, employees, very

line the questions. please Operator, open for

Operator

first Sachs. with George comes Instructions] Your line the Goldman [Operator Tong from question of

Unknown Analyst

Alex bulk provide George for you Tong. purchased within seller ADT XQ sizable in from update the bulk XXXX? accounts Does another allocation or an acquiring And capital account a can on same XXXX. accounts plan Locker. strategy? the is on more seller in It's purchase from completed on This ADT

James DeVries

Thanks Jim. capital to the the on is I'll address This to in look bulk chime and Alex. question. for Sure, allocation. question Jeff

executed color bulk accounts. XXXX, bit deals bulk So of we not a QX. for on XX,XXX In about bulk. We in the little did do deals

we're pursue business. I'd alternatives opportunities with we We the returns the acquired some Right for now, won't or We chase bulk our definitely that with we'll us dealer transactions, work with available these year. the but including bulk X exploring them. X generally parties, when have us, to consistent last from organization economics for consistency. offer are

years, we'll have capital comparing X to adds look make think, opportunities out subscriber X bulk continue to think in at and direct dealer our allocation, the I to allocation last of we'll them, additions. explore incremental done bulk I opportunities, capital continue business. and decisions We've

you want do to take capital? Jeff,

Jeffrey Likosar

last a on more flexibility. I'll we've couple Yes. about progress -- add calls, feel a we've allocation more what in the we several lot of the made whole last said little years, with consistent capital really good the we've

not remarks. below noted billion. long below debt leverage maturities was of cost $X.X Our stacked transactions is I've net in around XX ago, the the debt X It X.X%, more than prepared well our all

including with So the deploy returns, reduction. invest and continuing strong to variety remain described, what you're X we including capital we'll the the We'll just strength our the shareholders. is broad balance again, because Jim to in disciplined we'll incremental targeting structure. priorities won't below And because consistent of third reduction business, but continue of avenues, chase, debt capital to beholden then there. of capital we're strengthen the sheet, less additional feel area debt returning But X, current to

repurchase a capital the million or year We to that page an million on consistent to the another last to is a very deploy share course think just and $X.X and which authorization our plus with capital. what valued. So our Jim think confidence, prospects, attractively during X cash we commitment $XXX billion last $XXX meaningfully year it's is deck, of IR repurchase We annuity-like return but added good think page intend almost the our our repurchase focus of base our our just increased announced XX, a of quarterly authorization growth growth stock plus share I efficiency, with our word -- year to beyond shareholders. all noted we dividend the incremental consumed share we we use

Unknown Analyst

came how to sales prior in on the it. Farm perspective a from Got partnership elaborate And quarters? and XQ relative State you can

James DeVries

Jim. it's Sure. Alex,

The force. continue using accomplished. did state to great -- in neighborhood has of we work. of regulatory total X We A that have and together away teams chip Farm for to in XX,XXX. expansion. compliance a was the remainder State been more water are plans XXXX high now in the product working leak we for XX detection-centric XXXX. X -- trials through very satisfaction finalize states Farm in something compares policies kind the in is teams X That right teams and and us detection, Customer represents just State The of working total in additional XXXX, meeting for on holding in leak of are of consistently. including X,XXX some states deal to sales now a So DIY the We're states. XX% state

Operator

of Your Patnaik question Manav from comes line Barclays. the next with

John Ronan Kennedy

just process on to to the of and for there market, structure Can bundling offer find in in the the Kennedy Manav. expand progress optimizing expectations I on that ask for I progress you go the sales and initiatives think Ronan and pricing, the to is around we and This 'XX.

Jeffrey Likosar

Jeff. new changes Thanks would question. platform. on Yes, first, or There's highlight offer say, I this same the should the of for sure. the that at year launched structure of time. offers, new ADT+ set I variety a It's we last the

So for of it's new more customers. It's use and equipment cases available new a set a app.

So we things concurrent equipment optimization offered the ways all geographies. geographies, that, new services, warranty choices different we with this we with and because make the bundled features. select then reason the rolled first the out that to to is And versus respect somewhat customers our about kinds comment other in of

as customer. the cases, versus and between available recurring if right in how put to in we noted, we're we so-called in to to as and build prices, prices learning customer kind alternatives of knobs make different how and kind balance of even kinds adjust customers. right some front right the some continuing financing Jim revenue to And expand experience, to of the when find cases, dials And the channel, in the installation of to the we're offer right

new, to we the work reason the take significant point So we our as it's outcomes, through adjustments we to XXXX. both make there's and and because believe opportunity the economic outcomes is optimize make volumes rates just way

James DeVries

And Jim and X quick here. it's addition, Ron,

you got making, We're motion, Our -- sales sales a refining progress say, territory a leadership a aggressively mentioned ground team in really good in more resales. terrific And we've we're game. -- I'd we're we've the in the got field. leaning little our management,

You're engineer model. our familiar with in tech

and tech to continuing to improve. continue conversion model our leverage engineer We is

about dials real So sales -- and lots marketing knobs bundling, But Jeff the XXXX. said, there's and of cetera. good and intersection of pricing and as et at feel

John Ronan Kennedy

to please front kind then you virtual of the made I And ask and the terms center the in about service, can digitization AI talk of on progress call efficiency.

some you propensity as that think even I analytics opportunity within in regard? up scale IT

James DeVries

Sure.

So virtual AI I'll do second. and first

the On actually served virtual for front, time over we're X all now customers virtual. million

holding a rolls. the jobs, of exceptionally created, think service or of Just I are number a actually It's truck jobs tech roll. that at versus the hire that XX% virtual addressed our in we're of well satisfaction our of for now $X,XXX,XXX kinds XX% truck than over and were we're jobs The customer jobs even those million, so being virtually expanded. created, is more addressing than X going XXXX though of jobs created is

us. be by quarter That AI the year. customer is enable our our know, our being partnered of providers to So this by XX% QX. second expect intelligence. of end just We, arena to the beginning processed chat agents leveraging starting game. in customer fantastic your some you in our look of with we're And with AI and by experience, best the to couple AI the service win customer We're chats early employees we customers of with experience are are now started and first but And contained we'll best a artificial industry end and the overall, that's the of our will We've think who be customer of to as tools. a question service agents. the calls the beginning virtual for it's about applications arena, AI something at some with out voice of in for by XX% have voice roll then foray in agents XX%

the question, Thanks for Ronan.

Operator

next Capital question Ashish Sabadra line with of Your from the Markets. comes RBC

David Paige Papadogonas

it's I about in remarks. wanted David This it of in Paige to some on Ashish. about spoke the the for you incremental ask deck, prepared your opportunities, is

to opportunity. you Specifically, as mentioned small an medium-sized businesses

you and the if see you on give opportunity So incremental over there could just then just the what opportunities overall? and an overview

James DeVries

this It for been we to our Sure, been in the long XXX,XXX the represents David. And renewed market. X.X for million our of customers. question. of in have has something a for SMB neighborhood efforts us we have, business I Yes, Thanks after that think, a time. go

looking performing and customer We more to have and new assigned an products has We're The offering can new be well incremental to we retention growth for area. perspective for a opportunity contemporary. us. leader us, business functionality SAC make from a and a been perspective. think both our the at important from efficiency

that will lean be something into So in more XXXX, it we assertively.

Jeffrey Likosar

would add not about Ronan's offering customer our And out we're set too, our as question of with all new but building is I for optimization on some, base.

The other area we're customers. example optimizing there for is relocating where

features to with will of We themselves increasingly new we we on replace story for over who might about offering And equipment. the and specific having features that customers spaces, slightly business, our of to pets medium learn are separate needs we're platform older example, place, attracted our customers. time customers we and slightly of enable or of especially our but help have areas prioritize to different kinds flexible customers target and to in than is these have have of with relatives different them convey learn to beginning age capability from meaningful more set participation trying be could who the to adjacent opportunities then we point for in small we'll believe the that to to example, without avail might all the segments of new some some the

David Paige Papadogonas

of of comment health in And just market, a the aging possible of health follow-up general on regard. in U.S. the Great. to in installs, the is it that terms on new just That's just the on helpful. place, U.S. the anything residential consumer,

James DeVries

influences our comes from customer the a new it to cuts But is for is business headwind thing acquire when tends us customer that are macro when ways a perspective, attrition it down, customers upon of a to it from relocations of because generally, number the to be retention perspective, that tailwind David, both relocations perspective. a the the opportunity and a relocation. ads bit most of So new

new of a it to about new ads I'm smallish to comment tends our -- new percentage say category. our approximately be builds builds Your of adds. in going X% are the X%,

And so that meaningfully tied success. isn't our to

In here, in terms we've a got health of place, last today. business comment aging

It's a smallish part of behind us. place, tailwinds our portfolio. But we adjacency think that the there's aging around demographic some with opportunity in in that especially

So option. another we what interesting see call is

Operator

Your of Peter from final Christiansen question comes line the with Citigroup.

Peter Christiansen

subscriber the Tim, declining? curious, question. is start basis, I year-over-year, think normalized also Jeff, least spending that a year-over-year on how on just For I we absent mean, or tariffs a At asset does issues and guess, other cost should looking I was that. about out there.

Just curious.

Jeffrey Likosar

overall. question, the a guidance context little of of for bit just our Pete. share I'll Thanks It's Maybe Jeff.

revenue, that's because headwinds drive included incremental noncash have, to EBITDA our we controls. in continuing I foremost feel sales. We're of we headwinds EBITDA say, first comes the in some more the installation guidance the rate affect is significant and accompanying transition to margin. those It among key as in prepared and bit business little growth our progress, at our of operating shared really about the We outright good in some would high drivers the revenue. of noted continued So monitoring a cost and I services the efficiencies, our remarks a in is the materials, do that a EBITDA,

offset I couple of SAC definitionally to a then become we cash I So question, to free by items cash flow is go transition your helps cash, on to guidance, efficiency would is taxpayer. are our in out the noteworthy, Maybe areas. a most counting unaffected cash when in our continued noncash that the pressures our adjusted call

to the are opportunities, we things really it's but on progress in we feel scenario, on efficiency, that of goes the sales of SAC about reduction that the to to increase continued efficiencies. of a and revenue, into and cost ADT+ everything, really and like good labor guide to opportunity related described, marketing overall cost cash XX%. meaningful including really get more kind able reduction That's the flow we install the into year's planning top last really, equipment So good opportunities, being all another number

Peter Christiansen

Jim, And the was new platform systems behind think and how that to years Pulse individuals the X system corresponding And I I'm go in rollout with and a many platform about was curious, ago. perhaps services then, setup ago? to the upgrading -- way now more be operating that the aggressive out of existing serve new Pulse at make later Does the versus in what like the same it kind on sense years time. on with rolled

James DeVries

different of been us. I many for that would a a say, standardize, for Pete, From we've because hardware a doing beneficial absolutely. of our able so incredibly panels service and To years. to number extent number the different ecosystems we're that's perspective, organization is it equipped support to

is you're actually, years. this with, tenure average think of familiar something I is our our service that tech Pete,

way. with the point, of But and any take good customers into us. absolutely existing at to hitting upgrading so ecosystem, your advantageous in some working We're our pretty pitch terms And of how we're I do ADTs that that it's Pete. a where be our manufacturing to to to for now and cautiously question, make going the optimistic point solutions Thanks good, on cost partners that effectively happen. feel those upgrades we'll on to pretty able we're get comes

Jeffrey Likosar

all some you to didn't it individual other situation explicitly our reviewed in X put effects any who I would expect of other will margins investors, on our investors' it I'll I up mitigate thing were this that We laid on course, but effect just tariffs. line, share out. is minds. guidance on want will expect X bit evaluating on significant magnitude our we address overall to it Pete, like insulate just add the and we add of contemplates question. thing little I has within seek the else, ranges us our with guidance be remarks. respect bottom pressure And to from prepared will we've we tariffs contracts business, because would everybody come just our the I'll And high get that be guidance our but a that

James DeVries

We and an time year my to outstanding year. us XXXth for today. to join excellent Congratulations Rebecca more on thanks, ADT dealer the employees time, you, appreciation closed our taking Thank extend to everyone, quarter and and partners. an the I'd strong. like One

everyone, and have Thanks, day. again, great a

Operator

concludes Thank joining. that gentlemen, all for you and Ladies today's call.

You now may disconnect.

ADT (ADT) 27 Feb 252024 Q4 Earnings call transcript