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Vivint Smart Home, Inc. (NYSE: VVNT) will engage in one-on-one and small group meetings with investors during the Deutsche Bank 2021 Virtual Technology Conference. The event is scheduled for September 9, 2021, with meetings taking place throughout the day. Vivint is a prominent smart home provider in North America, serving over 1.7 million customers and offering comprehensive smart home systems, including consultation, installation, and 24/7 customer support. For more information, visit vivint.com.
Vivint Smart Home (NYSE: VVNT) announced Daniel Garen as its new Chief Ethics and Compliance Officer. Garen will enhance corporate compliance and enforce policies across the organization. With over 20 years of compliance experience from firms like DLA Piper, he aims to implement quantitative analytics and optimize processes to mitigate risks. CEO David Bywater highlighted Garen's expertise as essential for Vivint's growth and alignment with business goals. Vivint serves over 1.7 million customers in North America.
Vivint Smart Home (NYSE: VVNT), a top smart home provider, announced its participation in the Wells Fargo 6th Annual FinTech & Technology Services Forum. This event will feature virtual one-on-one and group meetings with investors.
Date: August 10, 2021
Time: Meetings will occur throughout the day.
Vivint serves over 1.7 million customers, offering integrated smart home solutions with professional installation and support. For more details, visit vivint.com.
Vivint Smart Home (NYSE: VVNT) reported robust second-quarter 2021 results, with revenue up 16.9% to $355.2 million and a net loss reduction of 52.7% to $74.1 million. The company added 121,599 new subscribers, marking a 12.6% increase year-over-year. Adjusted EBITDA rose 3.6% to $156 million, showcasing strong cash flow dynamics. Attrition improved to 11.6%, while subscriber acquisition costs dropped 88.9%. The company maintains a healthy liquidity of $660.7 million and reaffirms its full-year 2021 guidance of $1.38 - $1.42 billion in revenue and up to 1.85 million total subscribers.
Vivint Smart Home (NYSE: VVNT) announced a partnership with Vivint Gives Back to enhance education for underprivileged children. The initiative includes the donation of 30,000 backpacks with school supplies across 50 communities and sending 432 students to a STEM education summer camp in collaboration with the NBA’s Utah Jazz. Funded by $1.2 million from employee donations, the backpacks will be prepared in July and August, supporting students in grades K-12. The campaign aims to provide essential tools for success as students return to school.
Vivint Smart Home (NYSE: VVNT) will host a conference call on August 3, 2021, at 5:00 p.m. Eastern Time to discuss its second quarter 2021 financial results. The results and presentation slides will be available on their investor relations website after market close on the same day. Interested participants can register for the call in advance and will receive instructions via email. A replay of the webcast will be accessible for 30 days post-call. Vivint serves over 1.7 million customers in North America, providing integrated smart home systems and 24/7 support.
Vivint Smart Home (NYSE: VVNT) announced a strategic partnership with Freedom Forever, a leading residential solar installer. This collaboration aims to enhance homeowners' energy efficiency by integrating solar power with Vivint's smart home systems. Freedom Forever customers will receive a Vivint smart home installation during solar setup. An upcoming integration will allow users to monitor energy production and consumption through Vivint's interface, promoting informed energy usage. The partnership seeks to address rising energy costs and environmental concerns.
Vivint Smart Home (NYSE: VVNT) announced the appointment of former Congresswoman Barbara Comstock to its Board of Directors as a Class II director, effective immediately. Comstock brings over three decades of experience in government and business and has a strong background in science and technology policy. Her previous roles include chairing key congressional committees and founding initiatives to promote diversity in tech. This addition aims to enhance Vivint's strategic direction and growth potential, aligning with their commitment to smart home innovation.
Vivint Smart Home (NYSE: VVNT) has successfully completed a private placement of $800 million in 5.75% senior notes due 2029. Concurrently, its wholly-owned subsidiary APX Group, Inc. refinanced its credit facilities, securing a $1.35 billion term loan maturing in 2028 and a $370 million revolving credit facility maturing in 2026. These refinancing actions are expected to extend debt maturities by about 3.5 years and reduce annual interest expenses by approximately $50 million. The funds will be utilized to redeem existing higher-interest notes and repay outstanding amounts under current facilities.
Vivint Smart Home announced that its subsidiary, APX Group, Inc., priced an $800 million offering of senior notes at 5.75% interest, maturing in 2029. The offering is set to close on July 9, 2021, contingent on fulfilling several refinancing conditions. Proceeds will be used to redeem existing higher-interest debt, including approximately $1.3 billion in notes due between 2022 and 2024. The offering will not be registered under the Securities Act, limiting sales to qualified institutional buyers.
