Alarm.com Raises Outlook on Strong Q3 Performance
Alarm.com said its third quarter SaaS and license revenue increased 17.9% year-over-year to $100.1 million.
Alarm.com said its third quarter SaaS and license revenue increased 17.9% year-over-year to $100.1 million.
ADI Global Distribution quarterly segment revenue increased 11%, while the Products & Solutions segment reported a revenue increase of 12%.
Vivint reports higher installation revenue, lower attrition rates, and increased subscribers and revenues during Q3 despite the COVID-19 pandemic.
Napco says the COVID-19 pandemic negatively impacted equipment sales, which was the principal reason for the decline in total revenue.
Prior to the pandemic, Napco had 23 consecutive quarters of record sales. CEO Soloway says his vision is to get all equipment to generate RMR.
During the three and six month periods, Monitronics added 9,808 and 21,705 subscriber accounts, respectively, through its dealer channel.
Vivint also said adjusted EBITDA increased by $64.4 million year over year while its attrition rate improved by 40 basis points sequentially to 13.7%.
ADT’s improving financials are coupled with a partnership with Google that is expected to advance its opportunities in security and smart home automation.
The security and home automation provider also saw SaaS and license revenue increase 16.2% to $95.7 million, compared to $82.3 million in Q2 of 2019.
Headwinds caused by the coronavirus were attributed for the revenue losses at Resideo’s ADI Global Distribution and Products & Solutions segments.
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