Alarm.com Holdings Inc. ( (ALRM) ) has released its Q4 earnings. Here is a breakdown of the information Alarm.com Holdings Inc. presented to its investors.
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Alarm.com Holdings, Inc., a leader in the intelligently connected property sector, integrates IoT devices for security, video, automation, energy management, and wellness through a network of professional service providers. The company recently announced its financial results for the fourth quarter and full year 2024, revealing steady growth in SaaS and license revenue alongside strategic advancements in product offerings.
Alarm.com reported a 10.9% increase in full-year SaaS and license revenue, reaching $631.2 million in 2024, up from $569.2 million in the previous year. The company’s GAAP net income also rose significantly to $122.5 million, marking a substantial improvement from $80.3 million in 2023. The company’s strong cash position was bolstered by the issuance of convertible senior notes, contributing to an increase in cash and cash equivalents to $1.22 billion by the end of the year.
Key highlights of 2024 include Alarm.com’s enhancements in AI-based video analytics and its expansion into the remote video monitoring market, particularly through the acquisition of CHeKT. This acquisition aims to strengthen Alarm.com’s position in offering comprehensive video surveillance solutions to commercial and residential markets. Additionally, the company introduced new business activity analytics tools to assist commercial clients in making data-driven operational decisions.
Looking forward, Alarm.com has set expectations for SaaS and license revenue to range between $160.2 million to $160.4 million for the first quarter of 2025, with full-year guidance projecting revenues between $671.2 million and $671.8 million. The company remains focused on leveraging its growth initiatives and strategic acquisitions to maintain its competitive edge in the market.
