A financial results presentation will be made available immediately prior to the call on the Investor Relations section of the Company's website at. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24-7 customer care and monitoring. These costs exclude capitalized contract costs and upfront proceeds associated with contract modifications. With more than 2 billion certificates under management and 1,300 global firms as account holders, our clients are free to focus their attention on the strategically important aspects of their business, while we handle operational details on their behalf. Total Bookings — is total monthly service revenue for New Subscribers multiplied by Average Subscriber Lifetime, plus total Product revenue to be recognized over the contract term from New Subscribers. Net Service Cost per Subscriber — is the average monthly service costs incurred during the period both period and capitalized service costs , including monitoring, customer service, field service and other service support costs, less total non-recurring smart home services billings for the period divided by average monthly Total Subscribers for the same period. Although we believe that the Companys plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that the Company will achieve or realize these plans, intentions or expectations.
Our innovation team will release a number of new products in 2019, including a new 4K outdoor camera and an upgraded doorbell camera, along with a regular cadence of enhancements to our smart home cloud platform. We undertake no obligations to update or revise publicly any forward-looking statements, whether a result of new information, future events, or otherwise, except as required by law. These statements are based on the beliefs and assumptions of our management. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. The Company added 55,502 New Subscribers during the first quarter of 2018, a 41. These statements are based on the beliefs and assumptions of management. Dedicated to redefining the home experience with intelligent products and services, Vivint Smart Home serves more than one million customers throughout the U.
If a subscriber transfers their service contract to a new subscriber, we do not consider this as a cancellation. The Company added 47,536 New Subscribers during the first quarter of 2019, a decrease of 14. Conference Call Details Date: May 15, 2018 Time: 5:00 p. Chief Financial Officer Mark Davies will host one-on-one and small group meetings at the conference. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than one million customers throughout the U. Descriptive frameworks underlying Moody's ratings. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than one million customers.
Lifetime Service Revenue per New Subscriber — is the Total Monthly Service Revenue for New Subscribers divided by New Subscribers, multiplied by Average Subscriber Lifetime. Additional terms for Japan only: Moody's Japan K. To join the live webcast and conference call, please visit the Investor Relations section of the Vivint website, , or dial 833 235-7641 for domestic participants or 647 689-4162 for international participants with the conference code of 1698518. Real-time last sale data for U. Conference Call Details Date: March 5, 2019 Time: 5:00 p. Conference Call Details Date: May 7, 2019 Time: 5:00 p. For the first quarter 2017, Vivint Flex Pay did not include an option for New Subscribers to finance through Citizens Bank.
The cumulative effect of applying the new standard to all contracts with customers that were not completed as of January 1, 2018 was recorded as an adjustment to accumulated deficit as of the adoption date. Certain Definitions Total Subscribers — is the aggregate number of active smart home and security subscribers at the end of a given period. Total Monthly Service Revenue for New Subscribers — is the contracted recurring monthly service billings to our New Subscribers during a given period. Total Bookings — is total monthly service revenue for New Subscribers multiplied by Average Subscriber Lifetime, plus total Product revenue to be recognized over the contract term from New Subscribers. This publication does not announce a credit rating action.
Attrition Rate — the aggregate number of canceled smart home and security subscribers during the prior 12 month period divided by the monthly weighted average number of Total Subscribers, based on the Total Subscribers at the beginning and end of each month of a given period. Sales of contracts to third parties and certain moves are excluded from the attrition calculation Investor Relations Contact: Dale R. If a sale of a service contract to third parties occurs, or a subscriber relocates but continues their service, we do not consider this as a cancellation. We believe weve made good progress in expanding our direct-to-home sales force and expect to have more sales representatives in the field this year. These costs include commissions, equipment, installation, marketing, sales support and other allocations general and administrative and overhead ; less cash received from product sales associated with the initial installation, activation fees, installation fees and upsell revenue.
These risk factors should not be construed as exhaustive. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1. Reflects non-cash compensation costs related to employee and director stock and stock option plans v. You should not put undue reliance on these statements which speak only as of the date hereof. Reflects subscriber acquisition costs that are expensed as incurred because they are not directly related to the acquisition of specific subscribers. Moody's scores covenant protections on a five-point scale, with 1. Wallace is a Senior Managing Director at Blackstone in the Private Equity Group, which he joined in 1997.
This metric reflects billings for our services and excludes monthly billings for the purchases of our products. Our innovation team will release a number of new products in 2019, including a new 4K outdoor camera and an upgraded doorbell camera, along with a regular cadence of enhancements to our smart home cloud platform. About Vivint Smart Home Vivint Smart Home is a leading provider of smart home services in North America. To join the webcast and conference call, please visit the Investor Relations section of the Company's website, , or from the United States please dial 866 548-2699 or 913 489-5306 for international participates. Forward-Looking Statements This earnings release and accompanying conference call include certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including statements regarding, among other things, the Companys plans, strategies and prospects, both business and financial. This metric excludes new subscribers acquired by the transfer of a service contract from one subscriber to another. Listings of issuers under review for rating changes.
The Company experienced growth in all sales channels; direct-to-home and inside sales channel grew 10. Other adjustments including items such as product development costs, subcontracted monitoring fee savings, non-recurring gain, and other adjustments. This metric excludes new subscribers acquired by the transfer of a service contract from one subscriber to another. We have several new hardware devices coming to market during 2018, including a second generation version of our proprietary Sky Panel, which we believe will improve customer experience and service costs, particularly in the area of wireless connectivity. All results for the first quarter ended March 31, 2018 in this earnings release are reported under Topic 606 unless otherwise indicated. You agree that a ny disputes relating to this agreement or your use of the Information, whether sounding in contract, tort, statute or otherwise, shall be governed by the laws of the State of New York and shall be subject to the exclusive jurisdiction of the courts of the State of New York located in the City and County of New York, Borough of Manhattan. The principal drivers behind the increase for the three and twelve months ended December 31, 2013 were increased personnel cost within our monitoring, customer service and field service departments related to the increase of the subscriber base and an increase in the cellular communication cost associated with the monitoring of our subscribers.