•Third quarter net revenue of $1.86 billion, up 2% year-over-year; ADI and Products & Solutions (“P&S”) each grew net revenue 2% year-over-year

•Record high third quarter gross margin was 29.8%, up 110 basis points year-over-year; year-over-year margin expansion achieved at P&S (ten consecutive quarters) and at ADI (six consecutive quarters)

•Record high third quarter net income of $156 million, up 680% year-over-year

•Record high third quarter Adjusted EBITDA(1) of $229 million, up 21% year-over-year

•Rob Aarnes (ADI) and Tom Surran (P&S) to be CEO of their respective companies upon completion of the anticipated separation

•2025 Outlook Update

SCOTTSDALE, Ariz., November 5, 2025 – Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets, today announced financial results for the third quarter ended September 27, 2025.

•Net revenue of $1,864 million, up 2% compared to $1,828 million in third quarter 2024

•Record high net income was $156 million, compared to net income of $20 million in third quarter 2024

•Record high Adjusted EBITDA(1) of $229 million, up 21% compared to $190 million in third quarter 2024

•Fully diluted earnings per share of $0.85 (record high) and $0.07 and Adjusted EPS(1) of $0.89 and $0.59 for third quarter 2025 and third quarter 2024, respectively; $0.89 exceeded the high-end of our outlook range and is a new record high

•Reported cash used by operating activities was $1,571 million. After accounting for the $1,590 million payment made to Honeywell in August 2025 to terminate the Indemnification Agreement, Adjusted cash provided by operations(1) was $19 million.

“Resideo delivered another strong quarter driven by solid execution, demonstrating the healthy operating fundamentals of our business. In the third quarter, we achieved record-high gross margins, earnings per share, and Adjusted EBITDA, all of which were enabled by continued organic net revenue growth and margin expansion by both the ADI and P&S business segments,” said Jay Geldmacher, Resideo's President and CEO.

“We are excited about the momentum we are generating in the market, with the launch of several new products in the quarter, including our ElitePRO premium smart thermostats that are selling extremely well. We believe our focused execution in 2025 will carry that positive momentum forward and be a tailwind for both companies, under Rob’s and Tom’s executive leadership, when our anticipated separation is expected to be completed in the second half of 2026.”

Products and Solutions Third Quarter 2025 Highlights

•Net revenue was $661 million, up 2% compared to third quarter 2024 and includes an approximate 1% favorable impact from foreign currency

•Gross margin was 43.0%, up 80 basis points compared to third quarter 2024

(1) This press release includes certain “non-GAAP financial measures” as defined under the Securities Exchange Act of 1934. Resideo management believes the use of such non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, and Adjusted Cash Provided by Operations, assists investors in understanding the ongoing operating performance of Resideo by presenting the financial results between periods on a more comparable basis. See reconciliations of U.S. GAAP results to adjusted results in the accompanying tables.

•Income from operations was $140 million, compared to $128 million in third quarter 2024

•Adjusted EBITDA(1) was $165 million, or 25.0% of revenue, compared to $157 million, or 24.3% of revenue, in third quarter 2024

P&S delivered net revenue of $661 million in third quarter 2025, up 2% compared to third quarter 2024 and includes an approximate 1% favorable impact from foreign currency. Revenue grew year-over-year across the majority of our product families and sales channels, which more than offset performance of our Air products that were impacted by the softer residential HVAC market. Revenue was driven primarily by price realization and by customer demand for our new products. The retail channel reported strong point of sale volumes, led by demand for our First Alert SC5 connected smoke and carbon monoxide detectors. Growth in the OEM channel was driven by both price and volume. Sales of our BRK products in the electrical distribution channel continue to be strong due to breadth of sales to a wider and more diversified customer base. P&S continued its cadence of introducing new products during the quarter, with the launch of our ElitePRO and X8S premium smart thermostats as well as new security, water, and Energy Star rated indoor air quality products.

Third quarter 2025 gross margin was 43.0%, compared to 42.2% in the prior year, primarily driven by the continued efficient utilization of our manufacturing facilities. Research and development expenses increased $10 million, compared to third quarter 2024, primarily due to planned investments that we believe will drive future growth. Selling, general and administrative expenses decreased $3 million, compared to third quarter 2024, due primarily to cost discipline. Continued operating leverage helped drive operating profit of $140 million or 21.2% of revenue, up from $128 million or 19.8% of revenue in third quarter 2024. Adjusted EBITDA grew 5.1% year-over-year in third quarter 2025 to $165 million, with Adjusted EBITDA margin up 70 basis points in third quarter 2025 to 25.0%.

•Net revenue was $1,203 million, up 2% compared to third quarter 2024. Average daily sales growth was 3% year-over-year. Both metrics benefit from an approximate 1% favorable impact from foreign currency.

•Gross margin was 22.6%, up 130 basis points compared to third quarter 2024

•Income from operations was $56 million, compared to $36 million in third quarter 2024

•Adjusted EBITDA(1) was $92 million, or 7.6% of revenue, compared to $92 million, or 7.8% of revenue, in third quarter 2024

ADI delivered average daily sales growth of 3% year-over-year and net revenue of $1,203 million, up $20 million compared to third quarter 2024. Most product categories grew year-over-year despite less selling days this quarter, versus the same period last year, due to planned store closures for the new ERP system implementation. E-commerce revenue grew 3% year-over-year, giving customers optionality in the omnichannel experience we provide. Exclusive Brands revenue also grew 3% year-over-year driven by positive momentum for our new products.

Gross margin was 22.6%, up 130 basis points compared to third quarter 2024. Margin accretive activities drove the year-over-year increase, including increased cross-selling of Snap One Exclusive Brands sales across the broader ADI customer base and mix benefits from higher e-commerce sales. Selling, general and administrative and research and development expenses combined were $192 million in third quarter 2025, up $15 million compared to prior period due primarily to non-recurring costs associated with the ERP implementation. Operating profit of $56 million for third quarter 2025 increased 56% from $36 million in third quarter 2024. Adjusted EBITDA was $92 million in third quarter 2025, flat versus the third quarter 2024.

Net cash used by operating activities was $1,571 million in third quarter 2025 compared to $147 million of cash provided by operating activities in the third quarter 2024. After adjusting the reported cash from operations for the $1.59 billion payment made in August 2025 to Honeywell to terminate the Indemnification Agreement, the Adjusted cash provided by operations was $19 million in third quarter 2025. The decrease in cash provided by operations year-over-year is due primarily to the timing of payments and from lower cash collections at ADI. At September 27, 2025, Resideo had cash and cash equivalents of $345 million and total outstanding gross debt of $3.24 billion.

The following table summarizes Resideo’s fourth quarter 2025 and updated full year 2025 outlook:

(2) Excludes one-time $1,590 million payment made to Honeywell to terminate the Indemnification Agreement in August 2025.

Resideo will hold a conference call with investors on November 5, 2025, at 5:00 p.m. ET. The webcast can be accessed at https://investor.resideo.com, where the webcast link and related materials will be posted before the call. A replay of the webcast will be available following the presentation.

Resideo is a leading manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually. For more information about Resideo and our trusted, well-established brands including First Alert, Honeywell Home, BRK, Control4, and others, visit www.resideo.com.

This release 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 or may occur in the future are forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of the Company to differ materially from such forward-looking statements. Such risks and uncertainties include, but are not limited to, (1) our ability to achieve our outlook regarding the fourth quarter 2025 and full year 2025, (2) our ability to recognize the expected savings from, and the timing and impact of, our existing and anticipated cost reduction actions, and our ability to optimize our portfolio and operational footprint, (3) the amount of our obligations and nature of our contractual restrictions pursuant to, and disputes that have or may hereafter arise under the agreements we entered into with Honeywell in connection with our spin-off, (4) risks related to our recently completed acquisitions, including Snap One, and our ability to achieve the targeted amount of annual cost synergies and successfully integrate the acquired operations (including successfully driving category growth in connected offerings), (5) the ability of Resideo to drive increased customer value and financial returns and enhance strategic and operational capabilities, (6) risks and uncertainties relating to tariffs that have been or may be imposed by the United States and other governments, (7) risks related to our anticipated separation of Resideo Technologies' Products & Solutions and ADI Global Distribution businesses into two independent publicly traded companies, including the timing thereof and that we may experience operational or other disruptions as a result of the separation and the planning therefor, and (8) the other risks described under the headings “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other periodic filings we make from time to time with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ from those envisaged by our forward-looking statements. Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this press release and we caution investors not to place undue reliance on any such forward looking statements.

This press release includes certain “non-GAAP financial measures” as defined under the Securities Exchange Act of 1934 and in accordance with Regulation G thereunder. Management believes the use of such non-GAAP financial measures assists investors in understanding the ongoing operating performance of the Company by presenting the financial results between periods on a more comparable basis. Such non-GAAP financial measures should not be construed as an alternative to reported results determined in accordance with U.S. GAAP.

We have included reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and provided in accordance with U.S. GAAP at the end of this release. A reconciliation of the forecasted range for Adjusted EBITDA, Adjusted Earnings Per Share and Adjusted Cash Provided by Operations for the fourth quarter of 2025 and for the fiscal period ending December 31, 2025 are not included in this release due to the number of variables in the projected range and because we are currently unable to quantify accurately certain amounts that would be required to be included in the U.S. GAAP measure or the individual adjustments for such reconciliation. In addition, we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors. However, for the fourth quarter of 2025 and full year 2025 respectively, we anticipate the following expenses in our GAAP to non-GAAP reconciliation: depreciation and amortization of $52 million and $197 million, interest expense, net of $48 million and $134 million, and stock-based compensation expense of $15 million and $58 million.

									Q3 2025																								YTD 2025
(in millions)																											Products and Solutions						ADI Global Distribution						Corporate						Total Company						Products and Solutions						ADI Global Distribution						Corporate						Total Company
Net revenue																											$	661					$	1,203					$	—					$	1,864					$	1,976					$	3,601					$	—					$	5,577
Cost of goods sold																											377						931						—						1,308						1,137						2,804						—						3,941
Gross profit																											284						272						—						556						839						797						—						1,636
Research and development expenses																											33						11						—						44						92						28						—						120
Selling, general and administrative expenses																											104						181						39						324						309						533						107						949
Intangible asset amortization																											7						24						—						31						19						70						2						91
Restructuring, impairment and extinguishment costs																											—						—						3						3						1						5						3						9
Income (loss) from operations																											$	140					$	56					$	(42)					$	154					$	418					$	161					$	(112)					$	467

(1) Represents the expense incurred pursuant to the Indemnification Agreement, which, prior to its termination, had an annual cash payment cap of $140 million. The following table summarizes information concerning the Indemnification Agreement:

(1)Refer to the Unaudited Consolidated Statements of Operations herein.

(2)For 2025 periods, Other includes net periodic pension costs excluding service costs and foreign exchange transaction (gains)/losses. For 2024 periods, Other includes loss on sale of assets, litigation settlement, gain on sale of investments, foreign exchange transaction (gains)/losses, and inventory adjustment related to the Snap One acquisition.

(3)In calculating the tax effect of relevant non-GAAP adjustments, we applied a flat statutory tax rate of 25% for all adjustments prior to 2025. Beginning in 2025, we adjusted our methodology to exclude the tax effect of adjustments that are non-deductible or non-taxable; however, we did not recast historical data. The impact of this change on non-GAAP adjusted net income available to common shareholders and non-GAAP adjusted net income per diluted common share would have resulted in an increase of $3 million and $0.03, respectively, for the three months ended September 28, 2024 and an increase of $8 million and $0.06, respectively, for the nine months ended September 28, 2024.

(1)Refer to the Unaudited Consolidated Statements of Operations herein.

(2)For 2025 periods, Other includes net periodic pension costs excluding service costs and foreign exchange transaction (gains)/losses. For 2024 periods, Other includes loss on sale of assets, litigation settlement, gain on sale of investments, foreign exchange transaction (gains)/losses, and inventory adjustment related to the Snap One acquisition.

(1)For 2024 periods, other includes litigation settlements.

(1)For 2024 periods, other includes inventory adjustment related to the Snap One acquisition.