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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 Holdings, Inc. (Nasdaq: ALRM), the leading platform for intelligently connected properties, has announced it will report its 2024 third quarter financial results after market close on November 7, 2024. The company will host a conference call and webcast at 4:30 p.m. ET on the same day to discuss the results. Interested parties can pre-register for the conference call to obtain dial-in information or listen via webcast on Alarm.com's investor relations website. A recorded version will be available after the call.
Alarm.com is a leading platform for intelligently connected properties, serving millions of consumers and businesses with technology to manage and control their properties remotely. The company's platform integrates with various IoT devices and offers solutions for security, video, access control, automation, energy management, and wellness through a network of professional service providers globally.
Building36, an Alarm.com company, has launched the Smart Thermostat HQ, a next-generation thermostat designed for easy installation and reliable connectivity. Key features include:
- Integrated cellular hub for instant connection
- Automatic wire detection for easy setup
- Built-in smart home hub for system expansion
The Smart Thermostat HQ aims to streamline installations, reduce service calls, and create upsell opportunities for HVAC contractors. When purchased as part of the Connected+Protected Air Essentials Kit, pre-linked devices automatically connect upon powering on the thermostat. This innovative design allows contractors to service more homes efficiently while providing exceptional customer service.
Alarm.com (Nasdaq: ALRM) has won a 2024 Security Sales & Integration Most Valuable Product (MVP) Award for its Shooter Detection Systems™ (SDS) solution in the Fire/Life Safety category. The indoor gunshot detection solution uses dual-authentication sensors combining infrared and acoustic sensing elements to detect gunshots with 99.99% accuracy. Upon detection, signals are sent to Alarm.com's cloud-based platform, alerting a central station within seconds.
The SDS sensor is SAFETY Act Certified by the Department of Homeland Security and includes built-in privacy measures. It's part of the Alarm.com for Business suite, which also includes intrusion security, video surveillance, and access control. Alarm.com also received a second 2024 MVP Award for its Remote Video Monitoring (RVM) Console.
Shooter Detection Systems (SDS), an Alarm.com (NASDAQ: ALRM) company, is set to introduce its new outdoor gunshot detection solution, SDS Perimeter, at the Global Security Exchange (GSX) in Orlando, FL, from September 23-25, 2024. This beta launch expands SDS's technology to cover both indoor and outdoor environments. SDS Perimeter uses acoustic and infrared technology to detect gunshots in parking lots and outside buildings, requiring no human intervention to alert authorities.
The company will also participate in educational sessions at GSX, with advisory board members speaking on active shooter topics. SDS's indoor gunshot detection technology boasts 99.9% accuracy and integrates with various security systems. The company now offers both on-premises and cloud solutions to meet diverse security needs.
OpenEye has launched a new line of cloud cameras offering an all-in-one video solution with onboard recording and advanced analytics processing. These cameras integrate with OpenEye Web Services (OWS), providing a serverless architecture with infinite scalability. Key features include:
- Flexible deployment options
- Automatic software updates
- Health monitoring and real-time alerting
- AI Analytics capabilities
- Multiple form factors for various installation needs
OpenEye has also introduced cloud event recording, automatically saving important video clips to the cloud. This release reinforces OpenEye's position as a leader in intelligent cloud video security solutions for businesses.
Lessen, a tech-enabled real estate property services company, has appointed Sean Miller as its new Chief Revenue Officer. Miller, with extensive experience in property management technology, will lead Lessen's marketing and sales organization. His background includes roles as CRO at Sensor Industries, CEO and Co-Founder of Griot, and President of PointCentral, an Alarm.com (NASDAQ: ALRM) subsidiary. Miller's appointment aims to help Lessen scale its revenue-generating operations in the $1.5 trillion market for real estate services. Lessen's CEO, Jay McKee, expressed excitement about Miller's growth-oriented, entrepreneurial leadership style aligning with the company's culture.
Lessen, a tech-enabled property services solution provider, has appointed Sean Miller as its new Chief Revenue Officer. Miller, a proptech industry veteran, will lead the company's marketing and revenue-generating operations. His extensive background includes roles as CRO at Sensor Industries, CEO and Co-Founder of Griot, and President of PointCentral, an Alarm.com subsidiary. Miller's appointment is aimed at scaling Lessen's operations in the $1.5 trillion property services sector, which he describes as one of the last relatively untapped markets for technology innovation.
Alarm.com's Remote Video Monitoring (RVM) Console has won the 2024 Most Valuable Product (MVP) Award from Security Sales & Integration in the Central Station/Monitoring category. This innovative system enables round-the-clock concierge video monitoring and proactive deterrence services for customers with Alarm.com Video Analytics cameras.
The RVM Console allows central station operators to review critical property and event data in real-time when cameras detect suspicious activity. Operators can intervene using on-site hardware to communicate through cameras, activate warning lights and audio alerts, and dispatch law enforcement if necessary. The cloud-based console provides rich contextual information and a comprehensive array of deterrence measures.
Alarm.com also received a second 2024 MVP Award for Shooter Detection Systems (SDS) Powered by Alarm.com, an end-to-end solution that instantly detects gunshots and provides critical information to first responders.
Alarm.com has announced a multi-year sponsorship of Max Esterson, an American rookie in the FIA Formula 3 Championship. Esterson's unique journey began with online racing at age 11, transitioning to real-world racing at 17. He quickly gained success, becoming the first American to win both the Formula Ford Festival and the Walter Hayes Trophy.
Now competing in F3, one of the top open-wheel championships globally, Esterson has already scored championship points and qualified on the front row. Alarm.com sees this partnership as an opportunity to showcase their innovative solutions, drawing parallels between Esterson's speed and accuracy and their own technology advancements in connecting software and physical systems for home and business security.
EnergyHub, a leading grid-edge flexibility provider and Alarm.com (NASDAQ: ALRM) subsidiary, has integrated multiple Emporia distributed energy resources (DERs) with its virtual power plant (VPP) platform. This collaboration incorporates Emporia's electric vehicle (EV) chargers and energy storage products within EnergyHub's Edge Distributed Energy Resource Management System (DERMS), enabling grid-aware cross-DER optimization for utilities.
The integration expands VPP capabilities for EnergyHub clients, providing greater bulk and distribution grid benefits. Emporia's expertise in whole-home energy management and streamlined device enrollment process makes it an ideal partner for scaling VPPs. By 2030, VPPs could reduce peak demand in the US by 60 gigawatts (GW) and grow to over 200 GW by 2050, potentially reducing annual power sector expenditures by $35 billion in 2030.
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