ENGLEWOOD, Colo., March 01, 2018 -- Ascent Capital Group, Inc. ("Ascent" or the "Company") (Nasdaq: ASCMA) has reported results for the three months and full year ended December 31, 2017. Ascent is a holding company that owns MONI, one of the nation's largest home security alarm monitoring companies.
Headquartered in the Dallas Fort-Worth area, MONI provides security alarm monitoring services to approximately one million residential and commercial customers as of December 31, 2017. MONI's long-term monitoring contracts provide high margin recurring revenue that results in predictable and stable cash flow.
- Ascent's net revenue for the three and twelve months ended December 31, 2017 totaled $133.5 million and $553.5 million, respectively
- Ascent's net loss for the three and twelve months ended December 31, 2017 totaled $16.0 million and $107.6 million, respectively. MONI's net loss for the three and twelve months ended December 31, 2017 totaled $14.6 million and $111.3 million, respectively
- Ascent's Adjusted EBITDA for the three and twelve months ended December 31, 2017 totaled $72.9 million and $306.3 million, respectively. MONI's Adjusted EBITDA for the three and twelve months ended December 31, 2017 totaled $73.8 million and $313.6 million, respectively
- On February 26, 2018 MONI announced an exclusive, long-term, trademark licensing agreement with The Brink's Company (NYSE:BCO), which will result in a complete rebranding of MONI and LiveWatch as BRINKS Home Security. The rebrand is expected to be completed in the second quarter of 2018
- MONI launched its professional monitoring services for the Nest Secure alarm system through its direct to consumer channel on December 5, 2017, and through the Nest Secure app on February 20, 2018
Ascent Chairman and Chief Executive Officer, Bill Fitzgerald stated, "The MONI team continued to work hard toward its objective of creating a broader, more diversified distribution platform in 2017, and building a solid foundation for a stronger, more competitive organization in an evolving smart home security market. I also believe that the recently announced rebranding to BRINKS Home Security is a critical step in our continuing transition to reach customers more effectively and I am confident that the work being done today will create a more reliable path to improved performance and long-term value to our shareholders."
Jeffery Gardner, President and Chief Executive Officer of MONI said, "2017 was a transformational year for the MONI business. In addition to successfully launching and diversifying our direct-to-consumer sales channel, we announced a meaningful new partnership with Nest, drove tangible reductions in operating expenses, and made solid progress stabilizing dealer economics. Capping this off, we recently partnered with Brinks to license the rights to the BRINKS Home Security brand name, an iconic, 150 year old brand with national recognition and broad consumer awareness. In a crowded smart home security market, it is increasingly important to have a heavy-weight brand that consumers nationwide can identify with and trust. Going to market with the #2 nationally recognized name in home security will provide us with a more dynamic growth profile and strengthens MONI's position as a leader in the smart-home security market."