Welcome to our dedicated page for Alarm.com Holdings news (Ticker: ALRM), a resource for investors and traders seeking the latest updates and insights on Alarm.com Holdings stock.
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.
FAQ
What is the current stock price of Alarm.com Holdings (ALRM)?
What is the market cap of Alarm.com Holdings (ALRM)?
What does Alarm.com Holdings, Inc. do?
What segment contributes most to Alarm.com's revenue?
How did Alarm.com perform financially in 2023?
What new products and innovations has Alarm.com recently introduced?
How strong is Alarm.com's financial position?
Who are Alarm.com's service providers?
Where is Alarm.com's stock traded?
What are the key features of Alarm.com's platform?
What recent financial achievements has Alarm.com reported?
What is Alarm.com's approach to innovation?
