Vivint Smart Home, Inc. (VVNT) Reports Q4 Revenues Beat; Offers FY21 Revenue Mid-Point Guidance Above Consensus

Vivint Smart Home, Inc. (NYSE: VVNT) reported Q4 EPS of $. Revenue for the quarter came in at $332.5 million versus the consensus estimate of $327.12 million.

Fourth Quarter 2020 Highlights

• Total revenues increased by $24.7 million year over year to $332.5 million
• Net loss of $151.2 million vs. a net loss of $88.5 million in the prior year period
• Adjusted EBITDAa increased by $21.6 million year over year to $146.7 million
• Net cash provided by operating activities of $6.6 million, up $105.5 million from prior year period

“We met or exceeded all of our financial goals in a year marked by profound and unprecedented challenges, a testament to the favorable positioning of our end-to-end smart home platform and robust service offering heading into the pandemic,” said Todd Pedersen, CEO of Vivint. “As we turn our attention forward, we will continue the process of driving better consumer awareness of the Vivint brand on a national scale. Beyond this, now is also the right time to continue pushing new boundaries in delivering a transformative smart home experience to every home. Our vision is to extend our reach well beyond where it is today, by delivering additional services to the home—bridging even further to a truly autonomous home experience.”

GUIDANCE:

Vivint Smart Home, Inc. sees FY2021 revenue of $1.38-1.42 billion, versus the consensus of $1.39 billion.

• Approximately 1.80 to 1.85 million total subscribers,
• Full year revenue between $1.38 and $1.42 billion dollars, and
• Full year adjusted EBITDA between $640 and $655 million dollars.

"The fundamental characteristics of our financial model remain highly attractive, particularly the contractual, recurring revenue that provides long-term visibility and predictability to our business,” said Dale R. Gerard, CFO of Vivint. “We have several initiatives in 2021 that we believe will continue to fuel our leadership position in smart home and beyond."

For earnings history and earnings-related data on Vivint Smart Home, Inc. (VVNT) click here.

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