ADT, Inc. (NYSE:ADT) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET

Company Participants

Elizabeth Landers - IR

James DeVries - CEO, President & Director

Jeffrey Likosar - CFO

Kenneth Porpora - EVP, Finance

Conference Call Participants

George Tong - Goldman Sachs Group

Toni Kaplan - Morgan Stanley

Brian Ruttenbur - Imperial Capital

Philip Shen - ROTH Capital Partners

Ashish Sabadra - RBC Capital Markets

Peter Christiansen - Citigroup

Operator

Greetings, and welcome to ADT's Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce Elizabeth Landers, Senior Director of Investor Relations. Thank you. You may begin.

Elizabeth Landers

Thanks, operator, and good morning, everyone. We appreciate you joining our ADT's Second Quarter 2022 Earnings Call. Speaking on today's call will be ADT's President and CEO, Jim DeVries; and our CFO and President of Corporate Development, Jeff Likosar. Jim will provide an overview of our recent financial performance and how that links to the mission and long-term strategy we laid out at our Investor Day in March. Jeff will then cover our financial performance in detail. After the prepared remarks, we'll take analyst questions. Also joining us from Q&A are Ken Porpora, EVP of Finance; and Jill Greer, SVP of Finance, Investor Relations and Communications.

Earlier this morning, we issued a press release and slide presentation of our financial results. These materials are available on our website at investor.adt.com.

And before we start, I do need to mention that today's remarks include forward-looking statements that represent our beliefs or expectations about future events. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Some of the factors that may cause differences are described in our SEC filings.

We'll also discuss non-GAAP financial measures on the call. The most directly comparable GAAP measures along with a reconciliation to those measures are available on our website at investor.adt.com.

And with that, I'll turn the call over to Jim.

James DeVries

Good morning, and thanks to everyone for joining today's call. We released our strong second quarter results this morning, showing substantial year-over-year improvements in total revenue and adjusted EBITDA, solid free cash flow generation, and for the first time since our IPO, positive adjusted net income of $50 million or $0.06 per share.

We demonstrated continued progress on our key initiatives outlined earlier this year during our Investor Day and delivered what I believe is our best quarter ever at ADT. We have great momentum in our core engine, the consumer business, solid demand for ADT products and services, is driving subscriber growth, higher average pricing and a record RMR balance, while also improving our operating efficiency. In addition, our unrivaled focus on the customer is producing enhanced brand loyalty along with record high retention.