Vivint Smart Home, Inc.

Delisted

CIK 0001713952AcceleratedServices-Detective, Guard & Armored Car ServicesDelawareFY ends Dec 31

Period

FY 2022

Revenue

$1.68B

Net Income

$-51.73M

Total Assets

$2.88B

Equity

$-1.70B

Shares Out

214.69M

Op. Cash Flow

$39.42M

Business

Vivint Smart Home, Inc. is a former operating company in Detective, Guard & Armored Car Services, incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31
Revenues	1,682	1,479	1,252	1,151	1,050
Operating expenses (exclusive of depreciation and amortization shown separately below)	390	384	352	369	356
Selling expenses (exclusive of amortization of deferred commissions of $222,097, $212,967 and $197,697, respectively, which are included in depreciation and amortization shown separately below)	351	379	302	192	213
General and administrative expenses	248	268	268	193	209
Depreciation and amortization	622	601	571	544	514
Restructuring and asset impairment charges	0	0	21	0	5
Total costs and expenses	1,611	1,634	1,514	1,298	1,297
Income (loss) from operations	72	−154	−262	−147	−247
Interest expense	167	185	221	260	245
Interest income	−1	−532,000	−708,000	−23,000	−425,000
Change in fair value of warrant liabilities	−21	−50	109	0	—
Other (income) loss, net	−23	14	10	−8	−17
Loss before income taxes	−49	−303	−602	−399	−474
Income tax expense	2	2	1	1	−2
Net loss	−52	−306	−603	−401	−473
Basic (in dollars per share)	−0.24	−1.47	−3.37	−4.23	—
Diluted (in dollars per share)	−0.24	−1.71	−3.37	−4.23	—
Basic (in shares)	213	208	179	95	—
Diluted (in shares)	213	209	179	95	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31
Cash and cash equivalents	284	209	314	5	13
Accounts and notes receivable, net of allowance of $16,422 and $13,271	56	64	65	64	—
Inventories	79	51	47	65	—
Prepaid expenses and other current assets	30	19	14	18	—
Total current assets	448	343	440	151	1
Property, plant and equipment, net	62	55	52	61	—
Capitalized contract costs, net	1,486	1,405	1,318	1,215	—
Deferred financing costs, net	2	2	2	1	—
Intangible assets, net	2	52	111	178	—
Goodwill	818	837	837	837	835
Operating lease right-of-use assets	37	46	53	65	—
Long-term notes receivables and other non-current assets, net	25	45	58	96	—
Total assets	2,879	2,786	2,872	2,604	351
Accounts payable	121	96	86	87	8,735
Accrued payroll and commissions	83	83	88	73	—
Accrued expenses and other current liabilities	200	236	247	139	—
Deferred revenue	508	430	328	235	—
Current portion of notes payable, net	14	14	10	461	—
Current portion of operating lease liabilities	13	12	12	12	—
Current portion of finance lease liabilities	3	3	3	8	—
Total current liabilities	941	874	774	1,014	96,194
Notes payable, net	2,236	2,348	2,372	2,472	—
Notes payable, net - related party	455	351	444	104	—
Finance lease liabilities, net of current portion	5	1	2	5	—
Deferred revenue, net of current portion	852	778	621	406	—
Operating lease liabilities, net of current portion	30	42	50	63	—
Other long-term obligations	58	106	121	81	—
Warrant derivative liabilities	3	25	76	—	—
Deferred income tax liabilities	890,000	640,000	2	2	—
Total liabilities	4,581	4,526	4,462	4,392	12
Commitments and contingencies (See Note 14)	—	—	—	—	—
Preferred stock, $0.0001 par value, 300,000,000 shares authorized; none issued and outstanding as of December 31, 2022 and 2021, respectively	0	0	0	0	—
Class A Common stock, $0.0001 par value, 3,000,000,000 shares authorized; 213,606,672 and 208,734,193 shares issued and outstanding as of December 31, 2022 and 2021, respectively	21,000	21,000	20,000	9,000	—
Additional paid-in capital	1,766	1,704	1,549	740	—
Accumulated deficit	−3,469	−3,417	−3,111	−2,500	5
Accumulated other comprehensive loss	0	−27	−27	−27	—
Total stockholders deficit	−1,702	−1,740	−1,589	−1,795	−1,400
Total liabilities and stockholders deficit	2,879	2,786	2,872	2,604	351

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31
Amortization of capitalized contract costs	557	525	481	437	398
Amortization of customer relationships	47	58	66	75	84
Gain on fair value changes of equity securities	0	−659,000	0	−2	−477,000
Depreciation and amortization of property, plant and equipment and other intangible assets	19	18	24	32	32
Amortization of deferred financing costs and bond premiums and discounts	6	5	4	5	5
Gain on sale of Canada Business	−25	0	0	—	—
Warrant issuance costs	0	0	723,000	0	—
(Gain) loss on sale or disposal of assets	−2	339,000	3	—	—
Loss on early extinguishment of debt	0	30	13	806,000	15
Stock-based compensation	78	165	198	4	3
Provision for doubtful accounts	40	31	24	25	19
Deferred income taxes	−3	−4	−2	606,000	−2
Restructuring and asset impairment charges	0	0	11	0	0
Accounts and notes receivable, net	−46	−31	−25	−34	−34
Inventories	−28	−4	17	−14	64
Prepaid expenses and other current assets	−11	−5	−2	−816,000	5
Capitalized contract costs, net	−661	−612	−584	−535	−499
Long-term notes receivables and other non-current assets, net	23	16	29	22	−29
Operating lease right-of-use assets	9	7	12	7	0
Accounts payable	27	10	3	6	−27
Accrued payroll and commissions, accrued expenses, and other current and long-term liabilities	−73	−23	157	25	91
Current and long-term operating lease liabilities	−10	−8	−13	−8	0
Deferred revenue	166	259	304	134	173
Net cash provided by operating activities	39	82	227	−222	−220
Capital expenditures	−19	−17	−25	−10	−19
Proceeds from the sale of capital assets	2	141,000	18	878,000	127,000
Proceeds from the sale of Canada Business, net of cash sold	86	0	0	—	—
Acquisition of intangible assets	−323,000	−347,000	−4	−2	−1
Net cash provided by (used in) investing activities	69	−17	−12	−6	33
Proceeds from notes payable	0	1,758	1,241	225	759
Proceeds from notes payable - related party	0	392	309	0	—
Repayments of notes payable	−14	−1,897	−1,579	−233	—
Repayments of notes payable - related party	0	−351	−175	0	—
Borrowings from revolving line of credit	0	0	359	343	201
Repayment of revolving line of credit	0	0	−604	−98	−261
Taxes paid related to net share settlements of stock-based compensation awards	−15	−29	−9	0	0
Repayments of finance lease obligations	−4	−3	−8	−10	−12
Proceeds from Mosaic recapitalization	0	0	464	0	0
Proceeds from warrant exercises	0	11	121	0	0
Financing costs	0	−26	−11	0	—
Deferred financing costs	0	−24	−13	−5	−11
Net cash (used in) provided by financing activities	−33	−170	94	219	196
Effect of exchange rate changes on cash and cash equivalents	−231,000	−47,000	137,000	66,000	71,000
Net increase (decrease) in cash and cash equivalents	75	−105	309	−8	9
Income tax paid	2	7	537,000	661,000	330,000
Interest paid	146	173	215	253	239
Finance lease additions	9	2	855,000	10	—
Capital expenditures included within accounts payable, accrued expenses and other current liabilities	2	3	2	2	128,000

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