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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.
EnergyHub announced the inclusion of the Amazon Smart Thermostat in its partner ecosystem, enhancing demand response programs for over 60 utility clients. This initiative aims to support utilities in reaching decarbonization goals and improving consumer choices. The Amazon Smart Thermostat, priced at $59.99, is ENERGY STAR certified and integrates with Alexa. The program fosters increased consumer enrollment in energy-saving initiatives, helping utilities manage energy loads during peak periods.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) will release its 2022 first quarter financial results on
PointCentral, a subsidiary of Alarm.com (NASDAQ: ALRM), has launched a new Smart Noise Monitor aimed at short-term rental managers. This device helps monitor noise levels, alerting property owners before issues arise with noisy renters. According to a 2021 Property Management Insights Report, 86% of surveyed managers recognize the value of such technology, yet many have not yet implemented it. The noise monitor integrates seamlessly with PointCentral's platform, allowing for efficient management across multiple properties.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) announced that CFO Steve Valenzuela will attend the Raymond James 43rd Annual Institutional Investors Conference in Orlando, Florida. The event is set for Monday, March 7, 2022, with Valenzuela's presentation scheduled at 9:15 a.m. ET. Alarm.com is a leading platform for connected properties, utilizing IoT technology for security, video, and energy management solutions. Their services are trusted by millions of consumers and businesses globally, available through a network of professional service providers.
Alarm.com, listed on NASDAQ as ALRM, has launched a new line of commercial-grade Power Over Ethernet (PoE) cameras designed for various business applications. The Pro Series cameras come in four models, including 1080p and 4MP options, and feature Business Activity Analytics software for enhanced operational insights. These cameras offer capabilities like occupancy tracking and queue monitoring, and are NDAA compliant. The launch coincides with the ISC West show in Las Vegas from March 23-25, 2022.
EnergyHub announced its acquisition of Packetized Energy, enhancing its Mercury DERMS with advanced load shaping and grid management capabilities. This strategic move aims to meet rising demands from utilities for innovative tools to manage distributed energy resources (DERs) and improve grid integration. Packetized Energy's Nimble platform leverages algorithms to optimize grid service value from DERs. With over 60 utilities using EnergyHub's solutions, this acquisition positions EnergyHub to better address future grid challenges and support carbon reduction goals.
Governor Glenn Youngkin announced that Alarm.com (NASDAQ: ALRM) will invest $2.6 million to expand its technology R&D division in Fairfax County, Virginia, creating 180 new jobs. This investment highlights the region's strong workforce and high concentration of STEM talent. Alarm.com, recognized among Fortune's top 100 Fastest Growing Companies, employs approximately 700 workers in Virginia. The expansion will be supported by the Virginia Jobs Investment Program, enhancing the local economy and job market.
Alarm.com Holdings reported a 17.9% increase in fourth-quarter total revenue to $195.3 million, with SaaS and license revenue rising 15.4% to $121.7 million. Full-year 2021 total revenue grew 21.2% to $749.0 million, while SaaS and license revenue increased 17.1% to $460.4 million. However, GAAP net income fell 32.9% to $52.3 million due to higher shipping and inventory costs. The company forecasts first-quarter SaaS revenue between $121.0 million and $121.2 million and full-year total revenue of $808.0 million to $819.0 million.
Alarm.com (Nasdaq: ALRM) will report its 2021 fourth quarter financial results on February 24, 2022, after market close. Management will host a conference call at 4:30 p.m. ET to discuss these results. Investors can join the call by dialing (866) 588-3290 for US/Canada or (262) 558-6169 for international listeners. A replay will be available two hours after the live call until March 3, 2022. Alarm.com is a leading platform for smart property management, integrating with various IoT devices to enhance security, automation, and energy management.
EnergyHub, a leader in distributed energy resource management, reports significant achievements in 2021. The company connected nearly 700,000 DERs to its Mercury DERMS platform, delivering over 850 million device-minutes of grid services. Collaborating with over 60 utilities, EnergyHub managed more than 2,900 MW of load flexibility. This year marked advancements in product innovation, supporting decarbonization and enhancing grid reliability. The firm aims to empower a carbon-free energy future by integrating customer devices with the grid.
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