Alarm.com Reports Q4 SaaS, License Revenue Increased 39%
During its fourth quarter, Alarm.com expanded its energy management portfolio with release of a new smart thermostat with advanced capabilities for energy efficiency and proactive detection.
Alarm.com reported total cash and cash equivalents were $96.3 million as of Dec. 31, 2017, compared to $140.6 million as of Dec. 31, 2016.
TYSONS, Va. — Alarm.com Holdings (Nasdaq: ALRM) reported 27% revenue growth and a big jump in non-GAAP earnings per share from 19 cents to 26 cents after the close Tuesday.
SaaS and license revenue climbed 39% to $65.2 million, compared to $46.9 million during the same period the year prior.
Total revenue increased 27% to $88.8 million, compared to $69.8 million the year prior. GAAP net income was $300,000 or 1 cent per diluted share, compared to $3 million or 6 cents per diluted share the year prior.
Non-GAAP adjusted EBITDA increased to $22.2 million, compared to $14.3 million during the same period the year prior. Non-GAAP adjusted net income increased to $13 million or 26 per diluted share, compared to $9.1 million or $0.19 per diluted share the prior year.
The company reported the following full year 2017 financial results as compared to full year 2016:
- SaaS and license revenue increased 36% to $236.3 million, compared to $173.5 million.
- Total revenue increased 30% to $338.9 million, compared to $261.1 million.
- GAAP net income was $29.3 million, or $0.59 per diluted share, compared to $10.2 million or 21 cents per diluted share.
- Non-GAAP adjusted EBITDA increased to $71.6 million, compared to $49 million.
- Non-GAAP adjusted net income increased to $45.1 million, or 92 cents per diluted share, compared to $31.1 million or 65 cents per diluted share.
“We’re pleased to report solid results for the quarter and the year and are thankful for the continued performance of our service providers with our solutions,” Steve Trundle, president and CEO of Alarm.com, said in an announcement. “The market continues to favor the type of innovative connected property services that we provide. In addition to our financial results for the quarter, we also expanded our energy management portfolio by announcing a new smart thermostat with advanced capabilities for energy-efficiency and proactive detection of maintenance issues.”
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About the Author
Rodney Bosch, Senior Editor
Although Bosch’s name is quite familiar to those in the security industry, his previous experience has been in daily newspaper journalism. Prior to joining SECURITY SALES & INTEGRATION in 2006, he spent 15 years with the Los Angeles Times, where he performed a wide assortment of editorial responsibilities, including feature and metro department assignments as well as content producing for latimes.com. Bosch is a graduate of California State University, Fresno with a degree in Mass Communication & Journalism. In 2007, he successfully completed the National Burglar and Fire Alarm Association’s National Training School coursework to become a Certified Level I Alarm Technician.
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