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Alarm.com Holdings, Inc. (NASDAQ: ALRM) is a leading provider of cloud-based security and smart home solutions for residential and commercial properties. The company's platform allows customers to intelligently connect and manage security systems, video monitoring, intelligent automation, and energy management services, which are available through a network of professional service providers across North America and globally.
Alarm.com's core business centers on the 'Alarm.com' segment, which provides cloud-based software platforms for connected properties. The company also has an 'Other' segment focused on developing residential and commercial automation solutions and energy management products. A majority of its revenue comes from the Alarm.com segment through SaaS and license fees paid by service providers who resell these services on a subscription basis.
In 2023, Alarm.com reported strong financial results with SaaS and license revenue increasing to $569.2 million, representing a 9.4% growth compared to 2022. The company achieved a GAAP net income attributable to common stockholders of $81 million, a notable improvement from $56.3 million in 2022. For the first quarter of 2024, SaaS and license revenue grew by 11.0% year-over-year to $150.3 million, and the company’s total revenue reached $223.3 million, up by 6.5% compared to the previous year.
Recent business highlights include the launch of innovative solutions like the Remote Video Monitoring (RVM) Console, AI-powered Familiar Vehicle Analytics, and the Connected Fleet solution, broadening its service offerings for commercial markets. Alarm.com also expanded its proactive security capabilities with new technologies such as the Sunflower Labs Autonomous Security Drone and advanced gunshot detection systems from Shooter Detection Systems.
The company maintains a strong financial position with cash and cash equivalents of $747.9 million as of March 31, 2024. It aims to continue growing its market share through strategic investments and ongoing enhancements to its platform, providing comprehensive security and automation solutions that enhance safety and efficiency for millions of users worldwide.
Alarm.com (Nasdaq: ALRM) has launched Ambient Insights for alarm response, a solution that enhances alarm monitoring by recognizing property activity and providing real-time data to monitoring stations. This innovation allows for faster emergency service dispatch and helps reduce false alarms. By assessing alarm signals and unusual activity, it empowers monitoring stations to prioritize responses effectively. The technology builds on Alarm.com’s existing machine learning capabilities and aims to improve public safety and customer experience.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) is set to release its 2021 second quarter financial results on August 5, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Alarm.com specializes in connected property technology, supporting millions of consumers and businesses with security, video, and automation solutions via a network of professional service providers. The live call can be accessed through toll-free numbers and will have a subsequent replay available.
Alarm.com Holdings, Nasdaq: ALRM, announced that CFO Steve Valenzuela will host one-on-one investor meetings at two upcoming virtual conferences. The William Blair Growth Stock Conference is scheduled for June 2, 2021, while the Bank of America Merrill Lynch Global Technology Conference will take place on June 10, 2021. Alarm.com is recognized as the leading platform for intelligently connected properties, offering various IoT solutions for security, automation, and energy management through a network of professional service providers worldwide.
PointCentral, a leading provider of smart home solutions for vacation rentals, has achieved significant recognition in 2021, winning two prestigious awards. The Keystone Awards named it the winner in the Smart Home Automation category, highlighting the company's blend of enterprise tech and niche expertise. Additionally, PointCentral won the Best Home Automation Solution at The Shortyz 2021 Awards, celebrated for excellence in the short-term rental industry. With over 10 years in the market, PointCentral continues to innovate, affirming its position as a leader in property automation.
Alarm.com Holdings (Nasdaq: ALRM) announced that CFO Steve Valenzuela will speak at the J.P. Morgan Global Technology, Media and Communications Conference on May 25, 2021. The fireside chat is scheduled for 10:15 a.m. ET.
Alarm.com is recognized as the leading platform for intelligently connected properties, providing technology solutions for security, video monitoring, energy management, and more. This event showcases Alarm.com's commitment to advancing technology in the connected property sector.
Alarm.com Holdings, Inc. (NASDAQ: ALRM) reported Q1 2021 financial results with SaaS and license revenue up 16.8% to $107.4 million, total revenue increased 13.5% to $172.5 million. Net income rose to $14.8 million or $0.29 per diluted share. Cash and cash equivalents surged to $642.2 million following a $500 million convertible notes issuance. The company launched new solutions like Smarter Business Temperature Monitoring and enhanced enterprise dashboards. Alarm.com expects Q2 2021 SaaS revenue between $108.9 million and $109.1 million, and full-year revenue guidance raised to $680.5 million to $691 million.
My Alarm Center has announced the promotion of Erik Mellon to Vice President of Technology, effective April 26, 2021. Previously the Director of Information Technology, Mellon played a crucial role in transitioning the company to remote work during the COVID-19 pandemic, ensuring continuous operations. His strategic initiatives included the deployment of a new call center system and cybersecurity enhancements. With a background from companies like Comcast, Mellon's leadership is expected to strengthen the company's technology infrastructure, aligning with My Alarm Center's commitment to providing top-tier security services across the U.S.
PointCentral, a subsidiary of Alarm.com, has partnered with Helm Smart Home to launch Helm Rentals, a new e-commerce platform aimed at short-term rental property managers with fewer than 25 doors. This collaboration allows smaller property managers to access advanced property automation solutions previously exclusive to larger companies, thereby leveling the competitive landscape. Sean Miller, President of PointCentral, emphasized the goal of making smart property technology accessible to all managers in the vacation rental market, enhancing operational efficiency and guest experiences.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) announced it will publish its 2021 first quarter financial results on May 4, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results. The live call can be accessed via toll-free numbers for US/Canada and international callers. A replay will be available shortly after the call, lasting until May 11, 2021. Alarm.com provides a platform for managing connected properties, offering security, automation, and energy management solutions globally.
OpenEye and Alarm.com have announced a joint integration aimed at enhancing security solutions. This integration connects OpenEye Web Services (OWS) with Alarm.com's business security platform, offering improved video verification and real-time alerts. Users can receive actionable notifications and view critical video footage linked to security events directly through the platforms. The collaboration aims to streamline incident management and enhance user experience, positioning both companies to better serve the growing demand for video-surveillance-as-a-service solutions.
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