Vivint Smart Home, Inc. (NYSE:VVNT) reported its Q2 results, with revenue coming in at $407.3 million, better than the Street estimate of $391 million.

According to the analysts at RBC Capital, the quarterly results were driven by underlying business momentum, namely total subscriber growth of 4.7% and MRR growth of 12.4%.

The company reaffirmed its 2022 revenue guidance of $1.60-1.63 billion and reaffirmed adjusted EBITDA guidance of $725-74 million but lowered total subscriber guidance to 1.86-1.92 million (from 1.95-2.00 million) and lowered 2022 free cash flow guidance to $35-60 million (from $67-77 million) due to the sale of the Canadian operations, the challenging economic environment, rising interest rates, and continuing global supply chain constraints.