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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 a new service called Connected Car, developed in partnership with CalAmp (Nasdaq: CAMP), allowing users to integrate vehicle status and home automation through a single mobile app. Compatible with most cars made since 1996, this device offers features like vehicle diagnostics, driving behavior monitoring, and theft alerts. Users can automate home functions based on the vehicle's location, enhancing security and convenience. Connected Car is available through authorized service providers in the U.S. and Canada.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) reported a strong financial performance for Q4 and full year 2020. SaaS and license revenue increased by 17% year-over-year to $105.5 million, contributing to an 18% rise in total revenue to $165.6 million. GAAP net income grew to $16.0 million, representing $0.31 per diluted share. For 2021, the company anticipates SaaS and license revenue in the range of $440.5 million to $441.5 million. Recent product launches include the Touchless Video Doorbell and the integration of OpenEye, enhancing Alarm.com's service offerings.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) has announced that CFO Steve Valenzuela will participate in virtual investor meetings at two upcoming conferences. The first event is the Raymond James Institutional Investors Conference on March 2, 2021, featuring a fireside chat at 10:50 a.m. ET. The second is the Roth Conference on March 16, 2021, where Valenzuela will host investor meetings. Alarm.com is a leader in IoT technology, providing solutions for security, automation, and energy management for millions of consumers and businesses worldwide.
PointCentral announced a new integration with Hostfully, enhancing keyless access and smart property automation for property managers. This integration allows contactless check-in for guests by automating the transfer of smart lock access codes based on reservation dates. The partnership aims to streamline operations, improve security, and boost rental income. With a focus on digital solutions, it addresses increasing health concerns among travelers. A free webinar will be hosted on February 18, discussing smart home technology in property management.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) will announce its fourth quarter financial results for 2020 on February 25, 2021, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET on the same day. Investors can participate via phone or access a webcast on the company's investor relations page. Alarm.com is recognized as the leading platform for connected properties, providing technology that integrates with numerous IoT devices, enhancing security and property management for consumers and businesses.
Alarm.com (Nasdaq: ALRM) has priced $435 million of 0% Convertible Senior Notes due 2026 in a private placement, increasing from an initial $350 million. The offering allows for an additional $65 million option. The estimated net proceeds of approximately $421.3 million will be used to repay credit obligations and for general corporate purposes, including potential acquisitions. The initial conversion rate is 6.7939 shares per $1,000 of notes, equating to a conversion price of $147.19 per share, representing a 47.5% premium. Notes may be redeemed starting January 20, 2024, under specific conditions.
Alarm.com (Nasdaq: ALRM) announced a private placement offering of $350 million in Convertible Senior Notes due 2026. The offering is aimed at qualified institutional buyers under Rule 144A of the Securities Act. An option for initial purchasers to acquire an additional $52.5 million is also planned. Proceeds will primarily be used to repay outstanding borrowings, with potential allocation for working capital and general corporate purposes. The notes will not be registered under the Securities Act and may not be sold in the U.S. without proper registration.
Alarm.com (Nasdaq: ALRM) has launched the Flex IO™, a revolutionary cellular sensor designed for seamless monitoring of property and assets. Utilizing advanced LTE-M technology, this battery-powered, weatherproof device functions independently from a panel, hub, or Wi-Fi, enabling real-time alerts and notifications through the Alarm.com app. It boasts a battery life exceeding two years and can monitor various access points, including gates and sheds. The Flex IO sensor represents a first in property monitoring, promising broad applicability and enhanced security for users.
Alarm.com (Nasdaq: ALRM) has launched the Touchless Video Doorbell, designed to minimize contact and enhance safety for home visits and deliveries. This innovative device allows users to ring the bell without pressing a button, utilizing advanced person detection technology. The doorbell includes features like a 150° vertical field of view, HD resolution, and night vision. Integrated with the Alarm.com ecosystem, it supports automation, such as turning on lights when detecting a person. The product aims to cater to increasing health-conscious consumer behavior, especially amid public health concerns.
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