ADT 2022 Financials and 2023 Outlook Examined
145-year-old mega security company ADT reported significant revenue growth in 2022 but also reported lowered expectations for 2023.
IPVM analyzes the company's financials and business, including:
- 2022 company financials
- Valuation
- Profitability
- 2023 projections
- Backlog and customer retention
- Commercial segment performance
- Supply Chain
- Capital usage and efficiencies
- Partnerships with Google and State Farm
- Outlook
*********: ***** **** ********* ***** *******,******** **** *************, *** ******** **** **********.
**** ***** **** *******/******** *** **** context:****** ******** + *** ********,***** **** ******* $*.* *******, ******** 15% ** ***,****** ******* ** ***, *** ***** Soars
2022 **********
*** ******** ** **** ******* ** $6.4 *******,********** **% *** ****** ********* *** benefit ** *** ***** ******* ***********, and *% ***********. ***** ******* **** declined, *** ******* *** **** ** deliver ******* *** ******** ****** ** or ***** *** ****-**** ********. ***********, FY **** *** ****** *** $*** million, ** **** **** *** ****** of -$*** ******* *** ******** *** the ***** **** ***** ** ***’* in ****:
*** ********* *** **,*** *********, **% of ***** *** ***** ** *** US. *** ********* **** ******** **** the **** ****:
ADT ****** ** ~*.** ** **** *******
*** *** * $*.* ******* ****** cap, ~*.** ** **** *******. ***'* stock ***** ** *********** **** ***, but **** **% ***** *** *** in ****.
*** *******'* ***** ********* ****** *% upon ******* ** *** ** ********, but ********* ******** *** *** ******* down *% *** *** ***.
ADT *************
*** *** ******** *** ****** ***** it **** ****** ** ****, *** the ******* ******** ******** *** ****** of $*** ******* ** ****, *.*% of *** ****** *******.
2023 ***********
*** ******* * ***** ****** **** in **** **** ** ****, ****** at *% - *%. ** **** to ******** ******** ****** ****** ** 38% *** *% ******* ****** ****** in ****.
*** **** ** *** * "*********-********* business," *** ******** ******-**** ************ ** follows:
***** **'* *** ******, **'* * step ********* ** *** ********** ** our **** *****. *** ** ***** are ******* **** ***** **** ***** like $** ******* ** ******* **** $3 ******* ** ****** ****** *** net ******** ***** ** ***** *****.
Growing ******* *** ******** *********
*** *** **** *** ******** ********* rate ******** **** ****, *** ********** its ************ ** ********* *** *** broader ****** ******:
**** ** ********* ***********, ***** **% of *** ********* ** *** ** movers *** **** * ****** ******* market *** ***** ***********, *** *** is * ******* ** **.
** ********, *** **** *** ******* customer ********* *** ********* ******* ****** balance *** ******** ** ***** **** amidst * **** ******* ****** ***** new ************ ***** *** ***.
*** ******* ************ *** ********* *** revenue ******* ****** ** *** ********* charts:
Commercial ******* ***********
*** ******** $*.* ******* ** ******* for *** ********** ******** *******, ********** 10% *** ******. *** ************ **** driven ** "** ******** ** ******* and ******* ****** ** **** ** strong ************ *** ***** ***********," ********* to*** ******* ***** *******.
*** ********** *******'* ******** ****** **** 32% *** ** ****. *** ******* out **** **** *** ****** ** a "****** *******, ***** *** ********* offset ** *** ****** ** **** inflation ** *********, *****, *** ****."
*** ******* **** *** **% *** growth ** ***** ********* ******* ******* (RMR) ** **, ******** ** -**% for *** ******** & ***** ******** segment:
*** ******* ******* *** ***** *********** market (***) ** ****** ****** **** segment, *** ********* **** *** ********** market ***** **** ** $** ******* globally ** ****:
******* *******, *** ***** ** ****** within ********** ****** ********* ********* ******, education, *** **********, ******:
*** ******** ** **** ******** ** fantastic. *** ************ **** ** *** building ** *** ********* ** ****** education ********** **** **** ****** *** us, ****** ******* ** **** *** cylinders.
**'** ***** **** ****** *********** **** in ********** ****** ******** ****** *** drones *** **** **** ******** ****** in *****.
Supply *****
***** *** ********* **** *** ****** shortage *** ********* *********, *** ******* acknowledged **** **** *** "*** *** of *** ***** ***":
* ***** *** **** ***** ******** the *********** ** * *** ****** now **** ** *** ****** ****** of ****. **'** *** **** ***** come **, ** ** *** **** away ** **** ******* * ****** bit. *** *'* *** -- *'* probably ************ ** ** *********, *** not **** ** ****** ***** ***. I ***** ** ********** **** ** 2023 **** ** *** ***** ********* should *** ****** *** ****** *** us.
Capital ***** *** ************
********** *********** ***** (***) *** ***’* largest *** ** ******* ** ~$*.* billion *** ****. *******, *** ******* has **** **** ******* ******* ** a ****** ** ****** ******** ********* and ******** ******* ************.
*** ********** ** *** **** ************ helped ******* ********* **** ***** ** its ****** ** ******** ****:
* ***** **'** ****** ** **** the ******* ** ******* *** **** flow, *** ********* ** *** *** year-over-year *** *** ******* ******* **** us ******* * ***** **** ** sight ** **** ** ***** *****, but ********** *** ***, ***** ** our ******* ******* *** **** ******.
*** ******* **** *** ****** **** cost ********* ************ *** *** ******** and ***** ******** ******* ** ****. This ******** **** ***** ***** *********** and ***** *********:
* ***** ***** ** **** **** as ******* ****** *** *****, ** sharpening *** **** ******* *** *** consumer ********, ******* * ****** *** sharper ** *** ******* *** **** rightsizing **** ** *** ****** ** the *********.
Partnership **** ******
****** ********* ******* $*** ******* ** ADT** **** ******* ******** *% ** *** ******* with $*** ******* ** ****.** * ******* ******, *** ********-******* / *** ****** **** ******** became ********* ** ***-*********** *** ***+ ***. *** ******* anticipates *** **************-********* ****** ******** ** launch ** ** ** ** ** 2023.
***** ** ****** **** ********* *** cameras ****** ********* ***'* *********** ************ revenue *** **** ** **% ** 2022. ***'* ********** *********** ********** **** improved ******* ** ****.
*** ******* ** *** ** ******* the ***** $** ******* ** *** new **** ** ****, *** ** plans ** *** **** ** ** in "*****-****** ***********."
Partnership **** ***** ****
***** **** ****** * $*.* ******* equity ********** ** ******* **% ** ADT ** ****. *** **** *** ***** **** go **** "************ ******* ****** ******** and *********** ** ****-*** *************."
*** **** ** ********* ********* ****** to ***** **** ************* ** ***-*****. At * **** *****, ** ***** to:
********* ********** ********* **** **** *********** to ******* ********** *** ********** ********** to ***** ******.
******* **** ***********, *** **** ****** markets ** *******, ************, *** ******** over *** **** *** ******, *** 6 ***** ****** **********.
*******
***'* ******* ** ************* ******** ** its ******** ************ **** ****** *** State ****. ******* ******* ***** ***** investments **** ***** * ******** ********* with ***** *********, *** ******* *** revenue ****** *********** *** ****. **** either ********* *** ************ *** *** delivering ** ******** ** ****** ** ADT ********, ** ***'* **** *********** business ** **********.