Alarm.com Holdings Inc

ALRM

Equity

ISIN US0116421050 / Valor 28367881

NASDAQ (2024-11-22)

USD 62.32+2.53%

Alarm.com Holdings Inc
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About company

Alarm.com Holdings Inc. is a technology company specializing in advanced security solutions and smart home automation. With over a decade of experience in the industry, Alarm.com has established itself as a leader in providing integrated systems that enhance both home and business security. The company offers its services through a network of top security service providers, ensuring high levels of customer service and support. Alarm.com's offerings include a range of products and services designed to keep users informed and in control of their security systems from anywhere. With over 6 million active users, the company has a significant presence in the security and automation market. Based in Tysons, VA, Alarm.com continues to innovate and expand its solutions to meet the evolving needs of its customers.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Alarm.com Holdings Inc. reported a significant increase in SaaS and license revenue for the second quarter of 2024. The revenue grew by 11.0% to $155.9 million, compared to $140.4 million in the second quarter of 2023. This growth highlights the company's expanding market presence and successful business strategies.

Net Income Surge

In the second quarter of 2024, Alarm.com Holdings Inc. saw a remarkable increase in GAAP net income attributable to common stockholders. The net income surged by 112.1% to $33.5 million, or $0.62 per diluted share, compared to $15.8 million, or $0.30 per diluted share, in the same period of the previous year.

Adjusted EBITDA Increase

Alarm.com Holdings Inc. reported a 17.8% increase in non-GAAP adjusted EBITDA for the second quarter of 2024. The adjusted EBITDA reached $42.8 million, up from $36.4 million in the second quarter of 2023. This increase reflects the company's improved operational efficiency and profitability.

Cash and Cash Equivalents

As of June 30, 2024, Alarm.com Holdings Inc. reported a total of $1.1 billion in cash and cash equivalents, a significant increase from $697.0 million as of December 31, 2023. This increase was primarily due to the issuance of $500.0 million aggregate principal amount of 2.25% convertible senior notes due June 1, 2029.

Financial Outlook

For the third quarter of 2024, Alarm.com Holdings Inc. expects SaaS and license revenue to be in the range of $157.3 million to $157.5 million. For the full year 2024, the company has increased its guidance for total revenue to be in the range of $920.8 million to $931.2 million, reflecting strong business performance and growth expectations.

Summarized from source with an LLMView Source

Key figures

9.16%1Y

-25.8%3Y

47.9%5Y

Performance

28.8%1Y

35.8%3Y

40.3%5Y

Volatility