rezi-20260404

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended April 4, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _____

Commission File Number 001-38635

Resideo Technologies, Inc.

(Exact name of registrant as specified in its charter)


Delaware						82-5318796
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

16100 N. 71st Street, Suite 550 Scottsdale, Arizona						85254
(Address of principal executive offices)						(Zip Code)

(480) 573-5340
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading Symbol:

Name of each exchange on which registered:

Common Stock, par value $0.001 per share

REZI

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The number of shares outstanding of the registrant’s common stock, par value $0.001 per share, as of May 5, 2026 was 151,426,260 shares.


Part I - Financial Information
Item 1.	Unaudited Consolidated Financial Statements.	3
	Unaudited Consolidated Balance Sheets as of April 4, 2026 and December 31, 202 5 .	3
	Unaudited Consolidated Statements of Operations for the Three Months Ended April 4, 202 6 and March 29, 2025 .	4
	Unaudited Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended Apri l 4, 2026 and March 29, 2025 .	5
	Unaudited Consolidated Statements of Cash Flows for the Thre e Months Ended April 4, 2026 and March 29, 2025 .	6
	Unaudited Consolidated Statements of Stockholders’ Equity for the Three Months Ended April 4, 2026 and March 29, 2025 .	7
	Notes to Unaudited Consolidated Financial Statements.	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	20
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	29
Item 4.	Controls and Procedures.	30
Part II - Other Information
Item 1.	Legal Proceedings.	31
Item 1A.	Risk Factors.	31
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	31
Item 5.	Other Information.	31
Item 6.	Exhibits.	32
Signatures		33

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Part I. Financial Information

Item 1. Financial Statements.

Resideo Technologies, Inc.

Consolidated Balance Sheets

(Unaudited)


(in millions, except par value)	April 4, 2026		December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	438	$	661
Accounts receivable, net	1,114		1,073
Inventories, net	1,357		1,354
Other current assets	265		270

Total current assets	3,174		3,358

Property, plant and equipment, net	444		447
Goodwill	3,096		3,100
Intangible assets, net	1,069		1,091
Other assets	424		437

Total assets	$	8,207	$	8,433

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,015	$	1,131

Accrued liabilities	516		624


Total current liabilities	1,531		1,755

Long-term debt	3,165		3,167

Other liabilities	589		594

Total liabilities	5,285		5,516

COMMITMENTS AND CONTINGENCIES (Note 14)

Stockholders’ equity:

Preferred stock, $0.001 par value: 100 shares authorized, 0.5 shares issued and outstanding, and $500 liquidation preference at April 4, 2026 and December 31, 2025	482		482
Common stock, $0.001 par value: 700 shares authorized, 160 and 151 shares issued and outstanding at April 4, 2026, respectively, and 158 and 150 shares issued and outstanding at December 31, 2025, respectively	—		—
Additional paid-in capital	2,410		2,391
Retained earnings	374		345
Accumulated other comprehensive loss	(168)		(157)
Treasury stock at cost	(176)		(144)
Total stockholders’ equity	2,922		2,917
Total liabilities and stockholders’ equity	$	8,207	$	8,433

Refer to accompanying Notes to the Unaudited Consolidated Financial Statements.

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Resideo Technologies, Inc.

Consolidated Statements of Operations

(Unaudited)


	Three Months Ended
(in millions, except per share data)	April 4, 2026		March 29, 2025
Net revenue	$	1,912	$	1,770
Cost of goods sold	1,361		1,259
Gross profit	551		511
Operating expenses:
Research and development expenses	48		35
Selling, general and administrative expenses	340		306
Intangible asset amortization	31		30
Restructuring expenses	6		4
Business separation costs	24		—
Total operating expenses	449		375
Income from operations	102		136
Indemnification Agreement expense	—		90
Other expense (income), net	—		6
Interest expense, net	47		25
Net income before taxes	55		15
Provision for income taxes	17		9


Net income	38		6
Less: preferred stock dividends	9		9
Less: undistributed income allocated to preferred stockholders	3		—
Net income (loss) available to common stockholders	$	26	$	(3)





Earnings (loss) per common share:
Basic	$	0.17	$	(0.02)




Diluted	$	0.17	$	(0.02)

Weighted average common shares outstanding:
Basic	151		148
Diluted	155		148

Refer to accompanying Notes to the Unaudited Consolidated Financial Statements.

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Resideo Technologies, Inc.

Consolidated Statements of Comprehensive Income

(Unaudited)


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Comprehensive income:
Net income	$	38	$	6
Other comprehensive income (loss), net of tax:
Foreign exchange translation gain (loss)	(11)		41









Changes in fair value of effective cash flow hedges	—		(3)
Total other comprehensive income (loss), net of tax	(11)		38
Comprehensive income	$	27	$	44

Refer to accompanying Notes to the Unaudited Consolidated Financial Statements.

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Resideo Technologies, Inc.

Consolidated Statements of Cash Flows

(Unaudited)


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Cash Flows From Operating Activities:
Net income	$	38	$	6
Adjustments to reconcile net income to net cash in operating activities:


Depreciation and amortization	51		47
Restructuring expenses	6		4
Stock-based compensation expense	14		15


Other, net	—		6
Changes in assets and liabilities:
Accounts receivable, net	(42)		(13)
Inventories, net	(6)		17
Other current assets	6		9

Accounts payable	(106)		(101)
Accrued liabilities	(114)		(112)
Non-current obligations payable under the Indemnification Agreement	—		54
Other, net	8		3


Net cash used in operating activities	(145)		(65)
Cash Flows From Investing Activities:

Capital expenditures	(36)		(31)





Net cash used in investing activities	(36)		(31)
Cash Flows From Financing Activities:



Repayments of long-term debt	(5)		—


Acquisition of treasury stock to cover stock award tax withholding	(32)		(15)
Preferred stock dividend payments	(9)		(9)
Other financing activities, net	4		2


Net cash used in financing activities	(42)		(22)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	1		3
Net decrease in cash, cash equivalents and restricted cash	(222)		(115)
Cash, cash equivalents and restricted cash at beginning of period	662		693
Cash, cash equivalents and restricted cash at end of period	$	440	$	578

Refer to accompanying Notes to the Unaudited Consolidated Financial Statements.

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Resideo Technologies, Inc.

Consolidated Statements of Stockholders’ Equity

(Unaudited)

Fiscal Quarters


	Preferred Stock			Common Stock							Accumulated Other Comprehensive Income		Treasury Stock
(in millions, except shares in thousands)	Shares	Amount		Shares	Amount		Additional Paid-In Capital		Retained Earnings				Shares	Amount		Total Stockholders’ Equity
Balance at January 1, 2026	500	$	482	149,874	$	—	$	2,391	$	345	$	(157)	7,716	$	(144)	$	2,917
Net income	—	—		—	—		—		38		—		—	—		38
Other comprehensive loss, net of tax	—	—		—	—		—		—		(11)		—	—		(11)

Common stock issuance, net of shares withheld for taxes	—	—		1,546	—		4		—		—		892	(32)		(28)

Stock-based compensation expense	—	—		—	—		15		—		—		—	—		15
Preferred stock dividend	—	—		—	—		—		(9)		—		—	—		(9)

Balance at April 4, 2026	500	$	482	151,420	$	—	$	2,410	$	374	$	(168)	8,608	$	(176)	$	2,922

Balance at January 1, 2025	500	$	482	147,230	$	—	$	2,315	$	907	$	(284)	6,436	$	(111)	$	3,309
Net income	—	—		—	—		—		6		—		—	—		6
Other comprehensive income, net of tax	—	—		—	—		—		—		38		—	—		38

Common stock issuance, net of shares withheld for taxes	—	—		1,263	—		2		—		—		700	(15)		(13)

Stock-based compensation expense	—	—		—	—		16		—		—		—	—		16
Preferred stock dividend	—	—		—	—		—		(9)		—		—	—		(9)

Balance at March 29, 2025	500	$	482	148,493	$	—	$	2,333	$	904	$	(246)	7,136	$	(126)	$	3,347

Refer to accompanying Notes to the Unaudited Consolidated Financial Statements.

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Resideo Technologies, Inc.

Notes to Consolidated Financial Statements

(Unaudited)

Note 1. Nature of Operations and Basis of Presentation

Nature of Operations

Resideo Technologies, Inc. (“Resideo”, the “Company”, “we”, “us”, or “our”) is a global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions that help homeowners and businesses stay connected and in control of their comfort, security, energy use, and smart living. We are a leading player in key product markets including home heating, ventilation, and air conditioning controls; smoke and carbon monoxide detection home safety and fire suppression; and security. Our global footprint serves residential and commercial end-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. We manage our business operations through two business segments: Products and Solutions and ADI Global Distribution.

Basis of Consolidation and Reporting

The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the Unaudited Consolidated Financial Statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, the Unaudited Consolidated Financial Statements included herein contain all adjustments, which consist of normal, recurring adjustments, necessary to fairly present our financial position, results of operations, and cash flows for the periods indicated. For the purpose of comparability, certain prior period amounts have been reclassified to conform to current period classification.

For additional information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report on Form 10-K”), filed with the United States Securities and Exchange Commission (the “SEC”) on February 24, 2026.

Reporting Period

We report financial information on a fiscal quarter basis using a modified four-four-five week calendar. Our fiscal calendar begins on January 1 and ends on December 31. We have elected the first, second, and third quarters to end on a Saturday in order to not disrupt business processes. The effects of this election are generally not significant to reported results for any quarter and only exist within a reporting year.

Announced Future Spin-Off of ADI Global Distribution Segment

On July 30, 2025, we announced our intention to separate the ADI Global Distribution segment through a tax-free spin-off to our shareholders (the “ADI Spin-Off”). Following the completion of the announced future ADI Spin-Off, the Products and Solutions segment would continue to operate as Resideo and ADI Global Distribution would become an independent public company. In connection with the announced future ADI Spin-Off, we incurred third-party advisory, consulting, legal, and other costs that are incremental and one-time in nature. We expect to incur such costs through, and for a limited time beyond, the completion of the separation of the businesses. Business separation costs were $24 million as reflected in the Unaudited Consolidated Statements of Operations for the three months ended April 4, 2026. The ADI Spin-Off is expected to be completed in the second half of 2026, subject to certain conditions.

Note 2. Summary of Significant Accounting Policies

Our significant accounting policies are detailed in Note 2. Summary of Significant Accounting Policies of the 2025 Annual Report on Form 10-K. There have been no significant changes to these policies that have had a material impact on the Unaudited Consolidated Financial Statements and the accompanying disclosure notes for the three months ended April 4, 2026.

We consider the applicability and impact of all recent accounting standards updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on our Unaudited Consolidated Financial Statements.

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Resideo Technologies, Inc.

Notes to Consolidated Financial Statements

(Unaudited)

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate operating expenses into specific categories, such as purchases of inventory, employee compensation, depreciation, and amortization to provide enhanced transparency into the nature and function of expenses. The guidance is effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. We are currently assessing the impact of adoption to our Consolidated Financial Statements and related disclosures.

Note 3. Segment Financial Data

We monitor our operations through two reportable segments: Products and Solutions and ADI Global Distribution, with Corporate reported separately. We identified these segments because we have organized our business and reporting structure into Products and Solutions and ADI Global Distribution. Segment information is evaluated by our Chief Executive Officer who is also the Chief Operating Decision Maker (“CODM”). The CODM uses income from operations to evaluate the performance of the overall business, make investing decisions, and allocate resources predominantly in the annual budget and forecasting process and the monthly results review, which includes variance analysis against the forecast, the budget, and the prior year. Disaggregated assets by segment are not used to allocate resources or to assess performance of the segments and therefore, segment assets have not been disclosed. Capital expenditures for each segment are reviewed by the CODM. The accounting policies used to derive segment results are substantially the same as those used in preparing the Unaudited Consolidated Financial Statements.

Products and Solutions—Our Products and Solutions segment is a leading building products manufacturer focused on residential controls and sensing solutions. Our products and solutions for comfort, energy management, safety, and security benefit from trusted, well-established branded offerings such as Braukmann, BRK, First Alert, Honeywell Home, Resideo, and others. Our offerings include temperature and humidity control, water and air solutions, smoke and carbon monoxide detection home safety products, residential and small business security products, video cameras, other home-related lifestyle convenience solutions, cloud infrastructure, installation and maintenance tools, and related software. We also sell components to manufacturers of water heaters, heat pumps, and boilers.

ADI Global Distribution—Our ADI Global Distribution segment is a leading, global specialty distributor of professionally installed low-voltage products, including security and AV solutions, serving commercial and residential markets through an omnichannel go-to-market platform. ADI Global Distribution sells primarily to licensed professional installers, dealers, and integrators. We offer an expansive list of products from leading suppliers across key specialty low-voltage categories. ADI complements our third-party supplier products with a suite of exclusive brands and services offerings.

Corporate—Corporate expenses include costs related to the corporate functions such as the executive function, legal, accounting, tax, treasury, corporate development, human resources, investor relations, and information technology. Additionally, unallocated amounts for restructuring expenses, business separation costs, and non-operating items such as Indemnification Agreement expense, interest income (expense), other income (expense), and provision for income taxes are reported within Corporate.

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Resideo Technologies, Inc.

Notes to Consolidated Financial Statements

(Unaudited)

Segment results of operations for Products and Solutions, including significant segment expenses that are regularly reviewed by the CODM, are included in the table below:


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Net revenue	$	706	$	649
Cost of goods sold	411		380

Research and development expenses	36		27
Selling, general and administrative expenses	119		101
Intangible asset amortization	6		6
Restructuring expenses	6		(1)
Segment income from operations	$	128	$	136

Segment results of operations for ADI Global Distribution, including significant segment expenses that are regularly reviewed by the CODM, are included in the table below:


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Net revenue	$	1,206	$	1,121
Cost of goods sold	950		879

Research and development expenses	12		8
Selling, general and administrative expenses	186		173
Intangible asset amortization	24		23
Restructuring expenses	—		4
Segment income from operations	$	34	$	34

The following table provides a reconciliation of segment income from operations to consolidated income before taxes:


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Segment income from operations
Products and Solutions	$	128	$	136
ADI Global Distribution	34		34
Total segment income from operations	162		170
Unallocated amounts:
Selling, general and administrative expenses	35		32
Restructuring expenses	—		1
Business separation costs	24		—
Indemnification Agreement expense	—		90
Other expense (income), net	—		6
Interest expense, net	47		25
Other corporate items	1		1
Net income before taxes	$	55	$	15

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Resideo Technologies, Inc.

Notes to Consolidated Financial Statements

(Unaudited)

The following table provides detail on capital expenditures which are regularly reviewed by the CODM:


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Cash paid for capital expenditures
Products and Solutions	$	23	$	20
ADI Global Distribution	13		11


Total capital expenditures	$	36	$	31

For the three months ended April 4, 2026 and March 29, 2025, capital expenditures in accounts payable were $18 million and $12 million, respectively.

Note 4. Revenue Recognition

We have two operating segments: Products and Solutions and ADI Global Distribution. Disaggregated revenue information for Products and Solutions is presented by product grouping, while ADI Global Distribution is presented by region.

The following table presents revenue by business line and geographic location, as we believe this presentation best depicts how the nature, amount, timing, and uncertainty of net revenue and cash flows are affected by economic factors:


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Products and Solutions
Safety and Security	$	254	$	221
Air	208		211
Energy	156		139
Water	88		78
Total Products and Solutions	706		649

ADI Global Distribution
Americas (1)	1,038		986
International (2)	168		135

Total ADI Global Distribution	1,206		1,121

Total net revenue	$	1,912	$	1,770

(1)Americas represents North, Central, and South America.

(2)International represents all geographies that are not included in Americas.

Note 5. Restructuring

We took restructuring actions to better align our cost structure with our strategic objectives and to improve operating efficiency. We expect to fully execute on our restructuring programs over the next 12 months, and the estimated cost of these remaining actions is approximately $21 million. We may incur additional restructuring expenses associated with these plans or new plans in the future.

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Resideo Technologies, Inc.

Notes to Consolidated Financial Statements

(Unaudited)

The following table summarizes information concerning recorded obligations for our restructuring programs included within accrued liabilities on the Unaudited Consolidated Balance Sheets:


	Three Months Ended		Twelve Months Ended
(in millions)	April 4, 2026		December 31, 2025
Beginning of period	$	21	$	31
Charges	6		15
Usage	(6)		(25)

End of period	$	21	$	21

Note 6. Stockholders’ Equity

Share Repurchase Program

On August 3, 2023, we announced that our Board of Directors authorized a share repurchase program for the repurchase of up to $150 million of our common stock over an unlimited time period (the “Share Repurchase Program”). During the three months ended April 4, 2026 and March 29, 2025, there were no common share repurchases. Common stock repurchases are recorded at cost and presented as a reduction to stockholders’ equity. As of April 4, 2026, we had approximately $108 million of authorized repurchases remaining under the Share Repurchase Program.

Preferred Stock

On June 14, 2024, in connection with our acquisition of Snap One, we issued 500,000 shares of Series A Cumulative Convertible Participating Preferred Stock (“Preferred Stock”) to CD&R Channel Holdings, L.P. (the “CD&R Stockholder”) for an aggregate purchase price of $500 million pursuant to an investment agreement dated April 14, 2024.

Note 7. Stock-Based Compensation Plans

The following table summarizes awards granted during the relevant periods:


	Three Months Ended April 4, 2026			Three Months Ended March 29, 2025
(in thousands, except per share data)	Number of Stock Units Granted	Weighted Average Grant Date Fair Value Per Share		Number of Stock Units Granted	Weighted Average Grant Date Fair Value Per Share
Performance Stock Units (“PSUs”) (1)	110	$	35.99	237	$	25.56
Restricted Stock Units (“RSUs”)	906	$	36.05	1,519	$	21.32

(1) Includes PSUs at target payout. Final common shares issued may be different based upon the actual achievement against the performance measure target.

For the three months ended April 4, 2026 and March 29, 2025 stock-based compensation expense was $15 million and $16 million, respectively. Stock-based compensation expense is included in either selling, general and administrative expenses or restructuring expenses in the Unaudited Consolidated Statements of Operations based on the nature of the expense.

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Resideo Technologies, Inc.

Notes to Consolidated Financial Statements

(Unaudited)

Note 8. Inventories, net

The following table summarizes the details of our inventories, net:


(in millions)	April 4, 2026		December 31, 2025
Raw materials	$	150	$	154
Work in process	15		16
Finished products	1,192		1,184


Total inventories, net	$	1,357	$	1,354

Note 9. Goodwill and Intangible Assets, net

Our goodwill balance and changes in carrying value by segment were as follows:


(in millions)	Products and Solutions		ADI Global Distribution		Total
Balance as of December 31, 2025	$	2,036	$	1,064	$	3,100




Impact of foreign currency translation	(3)		(1)		(4)
Balance as of April 4, 2026	$	2,033	$	1,063	$	3,096

The following table summarizes the net carrying amount of intangible assets:


(in millions)	April 4, 2026		December 31, 2025
Intangible assets subject to amortization	$	889	$	911
Indefinite-lived intangible assets	180		180
Total intangible assets	$	1,069	$	1,091

Intangible assets subject to amortization consisted of the following:


	April 4, 2026						December 31, 2025
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	911	$	(269)	$	642	$	912	$	(253)	$	659
Patents and technology	170		(69)		101		170		(63)		107
Software	266		(177)		89		256		(170)		86
Trademarks	79		(22)		57		79		(20)		59
Intangible assets subject to amortization	$	1,426	$	(537)

SEC Form 10-Q filed by Resideo Technologies Inc.