v3.25.2
REVENUE AND RECEIVABLES (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2025202420252024
Sources of Revenue:
Recurring monthly revenue
$1,056,527 $1,040,205 $2,109,326 $2,077,071 
Other related services
33,714 27,860 64,019 53,646 
Monitoring and related services
1,090,241 1,068,065 2,173,345 2,130,717 
Installation revenue
$107,176 $50,312 $202,692 $93,956 
Amortization of deferred subscriber acquisition revenue
89,618 86,182 178,489 169,558 
Security installation, product, and other196,794 136,494 381,181 263,514 
Total revenue$1,287,035 $1,204,559 $2,554,526 $2,394,231 
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
As of June 30, 2025, the Company’s total remaining unsatisfied performance obligations relating to the provision of monitoring and related services are as follows (in thousands):
0-12 Months
13-24 Months
25-36 Months
Thereafter
Total
$1,880,624 $1,041,664 $486,956 $256,900 $3,666,144 
Allowance for Credit Loss Rollforward
Six Months Ended June 30,
(in thousands)20252024
Beginning balance$57,795 $46,850 
Provision for credit losses76,974 73,707 
Write-offs, net of recoveries(1)
(67,929)(63,341)
Ending balance$66,840 $57,216 
________________
(1)Recoveries were not material for the periods presented. As such, write-offs are presented net of recoveries.
Schedule of Unbilled Retail Installment Contract Receivables, Net
The following is a summary of unbilled retail installment contract receivables, net:
(in thousands)June 30, 2025December 31, 2024
Retail installment contract receivables, gross$688,151 $678,174 
Allowance for credit losses(29,843)(8,848)
Retail installment contract receivables, net$658,308 $669,326 
Balance Sheet Classification:
Accounts receivable, net$264,565 $260,224 
Other assets393,743 409,102 
Retail installment contract receivables, net$658,308 $669,326 
Summary of Contracts Assets
(in thousands)June 30, 2025December 31, 2024
Contract assets, gross$58,390 $46,031 
Allowance for credit losses(5,823)(5,221)
Contract assets, net$52,567 $40,810 
Balance Sheet Classification:
Prepaid expenses and other current assets$25,417 $19,164 
Other assets27,150 21,646 
Contract assets, net$52,567 $40,810