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.”
