Reconciliations to the most comparable GAAP measures are included in the earnings presentation on our website. Non-GAAP cash flow measures include amounts related to our former solar business through 2Q 2024. Adjusted EBITDA grew 3% to $676 million, with adjusted earnings per diluted share of $0.23, up a strong 15% year-over-year. Cash flow continues to be a highlight, with Adjusted Free Cash Flow, including interest rate swaps, reaching $709 million year-to-date.

We ended the third quarter with a recurring monthly revenue balance of $362 million, up 1% year-over-year. Turning to attrition, earlier this year, ADT achieved record levels, and this quarter, we ticked up to 13%. Jeff will provide more specific details about our results and full-year outlook later in our call. Our product and engineering teams are firing on all cylinders in coordination with our strategic partners to drive a continued pipeline of innovative releases.

I remain confident in ADT's outlook and our ability to deliver on our commitments for 2025. I will take the next few minutes to share some additional details on our third quarter and year-to-date results and our outlook for the rest of the year. In the third quarter, we generated $208 million of Adjusted Free Cash Flow, including swaps, up 32%, and we have generated $709 million year-to-date, up 36%. Year-to-date, we have generated adjusted earnings per share of $0.67, up 20%.

More on ADT Inc.

Reported 2025-11-04 · figures from the ADT Inc. Q3 2025 earnings call.

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