Vivint Accused of Impersonating CPI Security Reps in Latest Lawsuit
The lawsuit claims Vivint’s sales representatives posed as CPI employees or affiliates and tricked customers into signing up for Vivint’s service.
The lawsuit claims Vivint’s sales representatives posed as CPI employees or affiliates and tricked customers into signing up for Vivint’s service.
ADT claims Vivint misled consumers by targeting ADT customers and deceived them into believing that Vivint is affiliated with the company.
Vivint also said adjusted EBITDA increased by $64.4 million year over year while its attrition rate improved by 40 basis points sequentially to 13.7%.
Vivint’s partnership with Chamberlain Group provides customers with seamless control and monitoring of their smart home and garage from a single app.
While Vivint’s overall average revenue per subscriber increased $1.49 per month compared to Q1 last year, attrition slightly increased as well.
In its first earnings call since becoming a public company, Vivint revealed margins at 40.6%, $66 in RMR per subscriber and 15 devices per installation.
Vivint President Alex Dunn will step down after 14 years at the company, but will serve in an advisory role through March 2021.
Vivint’s merger with Mosaic and IPO reportedly brought $690 million in capital to the company and added $488 million in equity.
The Z-Wave Alliance membership now exceeds 700 members worldwide with over 3,000 smart home and IoT certified devices on the market.
Vivint Senior Vice President of Finance and Treasurer Dale Gerard will serve as interim CFO while the company searches for a permanent hire.
This next installment of the SSI Industry Hall of Fame Webcast Series features Jim Henry, executive vice president of corporate development for Securitas Electronic Security.
Discover which residential and commercial devices, systems and services are best lending themselves to the recurring monthly revenue model
