Resideo Technologies, Inc. · NYSE:REZI
Resideo Technologies — Q3 2025 Earnings Presentation
25 slides from Resideo Technologies's earnings presentation, Nov 5, 2025
Slide 1: Q3'25 Earnings Presentation
Q3’25 Earnings Presentation November 5, 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation and the related conference call contain “forward-looking statements.” All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will o
Slide 3: Agenda
Resideo at a Glance Strategic Rationale for Separation Agenda Key Financial Data Investment Thesis 3
Slide 4: Resideo at a Glance
Resideo at a Glance
Slide 5: Our two businesses are indispensable partners to professionals
A leading building products manufacturer focused on residential controls and sensing solutions Our two businesses are indispensable partners to $2.65B 24.5% professionals who help Products & Solutions (P&S) LTM Net Revenue LTM Adjusted homeowners and businesses stay EBITDA Margin connected and in co
Slide 6: P&S: A Leading Manufacturer of Building Products Focused on Residential Controls and Sensing Solutions
P&S: A Leading Manufacturer of Building Products Focused on Residential Controls and Sensing Solutions Investment Highlights Financial Highlights A leading player in a $40B+ serviceable addressable industry segment positioned to grow across attractive product categories – that are critical to maxi
Slide 7: ADI: Leading Global Wholesale Distributor of Low-Voltage Products
ADI: Leading Global Wholesale Distributor of Low-Voltage Products, Including Security and Audio-Visual Solutions Investment Highlights Financial Highlights Leading Security and Residential AV distributor in a $30B+ serviceable addressable industry segment ~9% ~$4.79B Robust platform for propriet
Slide 8: Strategic Rationale for Separation
Strategic Rationale for Separation
Slide 9: Creating Two Leading, Focused Companies
Creating Two Leading, Focused Companies Security & Home Low Voltage Solutions Access Products Video Safety Control Surveillance Energy Data Security Fire Communications Water Air Residential Networking and Pro AV Wire Intrusion & Cable A Leading Manufacturer of Building Leading Global Wholesale Dist
Slide 10: Resideo is Taking Significant Actions to Drive Value Creation
Resideo is Taking Significant Actions to Drive Value Creation Eliminated All Monetary Separating Into Two Obligations Under the Independent Companies Indemnification Agreement Terminated the Honeywell Indemnification and Creating two focused public companies with clear Reimbursement Agreement (“
Slide 11: Simplifying the Story by Removing a Structural Impediment
Simplifying the Story by Removing a Structural Impediment Agreement Background Stakeholder Benefits Details Entered into the Indemnification Regularly scheduled $35 million Eliminates ongoing payments Agreement in connection with the payment was made in July 2025. under the Indemnification spi
Slide 12: CEOs Upon Completion of the Separation
Rob Aarnes and Tom Surran to be CEOs of their respective companies upon completion of the separation Tom Surran Rob Aarnes President, P&S President, ADI Global Distribution (P&S refers to RemainCo Resideo post anticipated separation) Joined Resideo in 2023 as President of the P&S business segment.
Slide 13: Compelling Strategic Rationale to Separate
Compelling Strategic Rationale to Separate Operational focus and dedicated management Sharper Focus teams to win in their respective marketplaces Increased operating and financial flexibility Enhanced Flexibility to pursue growth opportunities Tailored Capital Positioned to capitalize on distinct in
Slide 14: Key Financial Data
Key Financial Data
Slide 15: Resideo – Q3'25 Financial Summary
Resideo – Q3’25 Financial Summary ($ in millions, except per share) Q3’25 Q3’24 YoY Change Net Revenue $1,864 $1,828 +2% P&S Revenue $661 $645 +2% ADI Revenue $1,203 $1,183 +2% Gross Margin 29.8% 28.7% +110 bps P&S Gross Margin 43.0% 42.2% +80 bps ADI Gross Margin 22.6% 21.3% +130 bps Income from Op
Slide 16: Resideo - Key Q3'25 Financial Trends
Resideo - Key Q3’25 Financial Trends Net Revenue Adjusted EPS +2% Y/Y +51% Y/Y $ in M’s $0.90 $2,000 $1,900 $0.80 $1,800 $0.70 $1,700 $0.60 $1,600 $0.50 $1,500 $0.40 $1,400 $0.30 $1,300 $0.20 $1,200 $1,100 $0.10 $1,000 $0.00 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 NOTE: See the Q
Slide 17: Resideo - Key Q3'25 Financial Trends
Resideo - Key Q3’25 Financial Trends Adjusted EBITDA Adjusted Cash From Operations +21% Y/Y $ in M’s Change of ($128M) Y/Y $ in M’s 225 240 175 200 125 160 120 75 80 25 40 -25 0 -75 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 NOTE: Reported cash used by operations in Q3’25 was $1,571
Slide 18: Products & Solutions – Key Q3'25 Financial Trends
Products & Solutions – Key Q3’25 Financial Trends P&S Revenue P&S Gross Margin Rate P&S Adjusted EBITDA +2% Y/Y +80 bps Y/Y +5% Y/Y $ in M’s $ in M’s $180 $700 45% 40% $150 $600 35% $500 $120 30% $400 25% $90 $300 20% 15% $60 $200 10% $30 $100 5% $- 0% $- Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q3'24 Q4'24 Q1
Slide 19: ADI Global Distribution – Key Q3'25 Financial Trends
ADI Global Distribution – Key Q3’25 Financial Trends ADI Revenue ADI Gross Margin Rate ADI Adjusted EBITDA +2% Y/Y +130 bps Y/Y Flat Y/Y $ in M’s $ in M’s $120 $1,400 24% $1,200 $100 20% $1,000 $80 16% $800 $60 12% $600 $40 8% $400 4% $20 $200 $- 0% $- Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q3'24 Q4'24 Q1'25
Slide 20: Condensed Summary Balance Sheet
Condensed Summary Balance Sheet $ in millions September 27, 2025 December 31, 2024 Cash and cash equivalents $345 $692 Total debt $3,237 $2,015 Accounts receivable, net $1,147 $1,023 Inventories, net $1,328 $1,237 Obligations payable under the Indemnification $0 $723 Agreement(1) NOTE (1): The oblig
Slide 21: Durable Annual Free Cash Flow Generation
Durable Annual Free Cash Flow Generation $ in millions September 27, 2025 Free Cash Flow (1)(2) $M Cash and cash equivalents $345 $400 $300 Gross debt $3,237 $200 September 27, 2025 $100 Cash provided by operating $357 activities (LTM)(1)(2) $0 2023 2024 Q3'24 Q3'25 Capital expenditures (LTM) $101 (
Slide 22: 2025 Outlook and Key Modeling Assumptions
2025 Outlook and Key Modeling Assumptions $ in Millions, except per share 2025 Outlook Key 2025 Modeling Assumptions Total net revenue $7,430 - $7,470 Stock-based compensation $57 - $62 Adjusted EBITDA(1) $818 - $832 Depreciation & amortization $195 - $200 Adjusted EPS(1) $2.57 - $2.67 Capital expen
Slide 23: Investment Thesis
Investment Thesis
Slide 24: REZI – Invest Now for the Long Term
REZI – Invest Now for the Long Term Strategic Identity Differentiation & Relationships Separation creates two scaled, strong Trusted partner to professionals and and focused pure-play businesses deep channel relationships Consistent and proven execution Leading market positions with well- de
Slide 25: www.resideo.com
www.resideo.com 25