Tag: recurring monthly revenue (RMR)
ADT highlights new platform, relationship with Google
April 30, 2024Ken Showers, Managing Editor
BOCA RATON, Fla. – ADT’s refocus on its core consumer security and smart home business has paid off, with a strong start to 2024, company officials said.
The company reported total revenue of $1.2 billion for the First Quarter (Q1), with end-of-period recurring monthly revenue (RMR) up 3% to $353 million ($4.2 billion on an annualized basis). Consumer and Small Business (CSB) revenue was up 5% and segment Adjusted EBITDA was up 8%. The company also reported strong customer retention,...
DMP releases XF6 Series
January 2, 2024SSN Staff
SPRINGFIELD, Mo. – Digital Monitoring Products (DMP) has announced the release of the XF6 Series, a 24V standalone fire alarm panel.
DMP said that the XF6 is an addressable and wireless fire control panel, equipped with network and optional cellular communications. With a commercial UL fire-rated wireless offering, the XF6 Series can support up to 500 wireless devices.
“The XF6 is an extremely flexible and capable fire system. When combined with the 1100 Series Two-Way Wireless,...
ADT Q3 gains driven by strong retention, divestiture of commercial business
November 7, 2023SSN Staff
BOCA RATON, Fla. – ADT is reporting a significant improvement to its balance sheet in its third fiscal quarter, thanks to the divestiture of its former commercial division, as well as strong retention numbers and revenue from Consumers and Small Business (CSB).
A list of financial highlights from the quarter include total revenue of $1.2 billion with end-of-period recurring monthly revenue (RMR) up 3% to $350 million, high customer retention with gross revenue attrition maintaining 12.9%,...
Connected Technologies celebrates 15th anniversary
October 17, 2023SSN Staff
MONUMENT, Colo. – Connected Technologies is celebrating its 15th year in business – and has attributed its ongoing success and continually evolving product to listening to its dealers and bringing valuable services to their customers.
The business was co-founded in 2008 by Managing Partners Mike Simon and Dan Simon. The father-son team reportedly set out to develop an interface that would allow dealers to grow their recurring monthly revenue (RMR) while providing services to encompass...
'Exciting road ahead' as ADT doubles down on residential, small business
August 8, 2023Ken Showers, Managing Editor
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...
Becklar expands portfolio with acquisition of Eyeforce
June 7, 2023SSN Staff
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...
ADT holds strong and achieves record RMR in Q1 2023, stumbles on solar
May 3, 2023Ken Showers, Managing Editor
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...
ADT presents Q3 fiscal results
November 4, 2022Ken Showers, Managing Editor
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...
Alarm Lock debuts RMR-generating access control-system-as-a-service
August 11, 2021SSN Staff
AMITYVILLE, N.Y. – Alarm Lock, a division of NAPCO Security Technologies, is pleased to introduce AirAccess, a unique access control system as a service (ACaaS) designed to help locksmiths, security dealers and integrators build business and RMR-generating accounts faster than ever, right-sized for small & medium-sized businesses (SMBs).
Alarm Lock noted that AirAccess is the “1st revolutionarily-easy, cellular-based access control system, that makes the system connections for its...