Resideo Technologies : Q1 2025 Resideo Earnings Conference Call Presentation

May 6, 2025

Q1'25 Results Presentation

Financial Results

Tariffs and Financial Outlook

Quarterly Financial Trends

Agenda

Balance Sheet and Cash Flow

Overview of Resideo

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Financial Results



NET REVENUE

$1.77B in Q1'25

+19% YoY

ADJUSTED EBITDA

$168M in Q1'25

+23% YoY

ADJUSTED EPS

$0.63 in Q1'25

+34% YoY

• All three financial metrics at or above the high-end of outlook range.

• Mid-single-digit organic revenue growth year-over-year at both ADI and Products & Solutions.

• Continued strong operational execution drove year-over-

  year:

  • Gross margin expansion; and

  • Growth in Adjusted EBITDA and Adjusted EPS.

• Cash used by operating activities was $65 million, driven primarily by an increase in accounts receivable due to higher sales and cash outflows for accounts payable including early payments to receive supplier discounts.

• The Snap One integration is progressing well, with run-rate synergies achieved in Q1'25 ahead of 2025 plan expectations.

• The cadence of Products & Solutions new product introduction continues with the launch of the connected First Alert Smart Smoke and Carbon Monoxide Alarm, replacing Google's expiring Nest Protect alarms.

NOTES: Amounts shown above include contributions from Snap One, which was acquired in June 2024 and first appear in Resideo's Q2'24 results. "Organic" excludes the impact of the Snap One acquisition and foreign currency fluctuations. See Appendix for Non-GAAP financial measures and reconciliations. In Q1'25, a larger than normal non-cash charge was recorded related to the timing of Honeywell submissions under the Reimbursement Agreement, which impacted reported GAAP net income and earnings per share, but not our annual cash payments to Honeywell.

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Resideo - Q1'25 Highlights