Vivint Q1 Revenues Up $27M as Subscribers Increase 5.3%
While Vivint’s overall average revenue per subscriber increased $1.49 per month compared to Q1 last year, attrition slightly increased as well.
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.
The introduction comes on the heels of the successful completion of a pilot program in Lehi, Utah, using the service’s wireless mesh network.
The merged company is anticipated to have an initial enterprise value of approximately $5.6 billion and an initial market capitalization of about $3.1 billion.
Considered a technological milestone for the company, Vivint’s security engine now integrates two-way with Control4 home automation systems.
Vivint allowed its local business alarm license to lapse, resulting in its list of salespeople needing to be re-approved, a necessity in Wichita, Kan.
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
