William Chiu's questions to ADT Inc (ADT) leadership • Q2 2025
Question
William Chiu of RBC Capital Markets inquired about ADT's view on the current macro environment and its effect on client behavior. He also requested more color on the key learnings from the State Farm partnership that are informing its redesign.
Answer
CEO Jim DeVries characterized the business as resilient, noting that while lower relocation is a headwind for gross adds, it's a tailwind for retention. He mentioned a modest increase in non-pay cancellations. On State Farm, DeVries reiterated the core thesis that monitored devices can mitigate insurance claims and that the new strategy will focus on movers, using a partner with digital expertise to drive volume.