v3.26.1
REVENUE AND RECEIVABLES (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Sources of Revenue:
Recurring monthly revenue
$1,045,164 $1,056,527 $2,090,885 $2,109,326 
Other related services
36,947 33,714 71,702 64,019 
Monitoring and related services
1,082,111 1,090,241 2,162,587 2,173,345 
Installation and other revenue
$140,637 $107,176 $249,095 $202,692 
Amortization of deferred subscriber acquisition revenue
89,537 89,618 179,132 178,489 
Security installation, product, and other230,174 196,794 428,227 381,181 
Total revenue$1,312,285 $1,287,035 $2,590,814 $2,554,526 
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
As of June 30, 2026, 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
$1,920,910 $1,057,830 $509,460 $200,314 $3,688,514 
Allowance for Credit Loss Rollforward

Six Months Ended June 30,
(in thousands)20262025
Beginning balance$63,841 $57,795 
Provision for credit losses98,572 76,974 
Write-offs, net of recoveries(1)
(88,857)(67,929)
Ending balance$73,556 $66,840 
________________
(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, 2026December 31, 2025
Retail installment contract receivables, gross$677,895 $689,023 
Allowance for credit losses(61,902)(37,212)
Retail installment contract receivables, net$615,993 $651,811 
Balance Sheet Classification:
Accounts receivable, net$262,844 $268,552 
Other assets353,149 383,259 
Retail installment contract receivables, net$615,993 $651,811 
Financing Receivable Credit Quality Indicators
The following tables present credit quality information related to the Company’s RICs, including short-term receivables related to three-month payment plans, as of the periods presented:

Loan Origination Year
(in thousands)
20262025202420232022All preceding years
Credit Quality Indicator:
High$104,083 $163,871 $93,883 $54,008 $28,381 $2,139 
Medium
60,531 66,944 31,345 13,797 6,220 492 
Low14,739 21,112 10,172 4,357 1,684 137 
Total RICs as of June 30, 2026
$179,353 $251,927 $135,400 $72,162 $36,285 $2,768 
Current year gross write-offs$319 $23,108 $9,481 $4,052 $1,698 $441 
Loan Origination Year
(in thousands)20252024202320222021All preceding years
Credit Quality Indicator:
High$201,419 $122,031 $78,706 $45,519 $9,234 $1 
Medium
97,692 43,839 21,801 10,286 2,277 7 
Low31,684 14,341 6,664 2,870 652 — 
Total RICs as of December 31, 2025
$330,795 $180,211 $107,171 $58,675 $12,163 $8 
Summary of Contracts Assets
(in thousands)June 30, 2026December 31, 2025
Contract assets, gross$76,014 $69,506 
Allowance for credit losses(8,239)(6,591)
Contract assets, net$67,775 $62,915 
Balance Sheet Classification:
Prepaid expenses and other current assets$27,851 $28,758 
Other assets39,924 34,157 
Contract assets, net$67,775 $62,915