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Alarm.com Holdings, Inc. reports news about its cloud-based platform for intelligently connected properties, including security, video surveillance, access control, intelligent automation, energy management, wellness and active-shooter detection. The company serves residential, multifamily, small-business and enterprise commercial markets through professional service providers and commercial integrators, with recurring updates tied to SaaS and license revenue, product expansion and platform adoption.
Company announcements commonly cover AI-driven video analytics, camera hardware, legacy alarm-system upgrades through the Universal Communicator, OpenEye enterprise video capabilities, PointCentral multifamily access and automation, and Shooter Detection Systems gunshot-detection technology. Earnings releases and outlook updates also describe operating performance for the Alarm.com platform and adjacent automation and energy-management offerings.
Alarm.com has introduced Smart Arming, a new feature for its home security systems that offers intelligent automatic arming and disarming based on user activity. Nominated as a CES® 2023 Innovation Awards Honoree, this feature allows for customizable settings based on daily routines, reducing false alarms. Available globally and free for current customers, Smart Arming signifies Alarm.com's commitment to enhancing home security and user convenience.
Alarm.com Holdings, Inc. (Nasdaq: ALRM) announces that CFO Steve Valenzuela will participate in investor meetings at three major conferences in December 2022. The Raymond James Technology Investor Conference will take place on December 6 in New York, featuring a fireside chat at 11:30 a.m. ET. Following this, Valenzuela will host meetings at the Barclays Global Technology, Media and Telecommunications Conference on December 8 in San Francisco, before participating in another fireside chat at the Imperial Capital’s 19th Annual Security Investor Conference on December 15 in New York at 9:30 a.m. ET.
Alarm.com Holdings, Inc. reported strong third-quarter results for 2022, with total revenue increasing 12.4% year-over-year to $216.1 million and SaaS and license revenue rising 12.8% to $133.1 million. GAAP net income rose to $18.3 million, or $0.35 per diluted share. However, the company anticipates a $6.0 million revenue impact due to a dispute with Vivint regarding license fees, along with additional legal costs.
Outlook for fourth quarter 2022 estimates SaaS revenue between $130.5 million and $130.7 million.
EnergyHub reported an 83% increase in demand response events this summer, successfully shifting 8.5 GWh off-peak. This achievement involved 900,000+ devices collaborating with over 60 utilities to manage 1.3 GW of load flexibility. The summer of 2022 was particularly challenging due to record heat, yet customers participated in 1,376 events, supporting grid reliability without needing costly infrastructure upgrades. EnergyHub aims to assist in achieving 100% renewable energy by 2035, providing essential tools for a sustainable energy future.
Alarm.com Holdings (NASDAQ: ALRM) announced that Vivint Inc. will cease paying licensing fees under their Patent Cross License Agreement, which has been active since November 2013. Alarm.com disputes this decision and has filed for arbitration. The cessation of fees is projected to impact fourth quarter 2022 revenue by approximately $6 million, or 2.8% of total revenue. Preliminary results for the third quarter forecast SaaS and license revenue between $132.8 million and $133 million, exceeding prior guidance.
Alarm.com (NASDAQ: ALRM) has successfully completed a majority-stake acquisition of Noonlight, a prominent connected safety and event management platform. Founded in 2013, Noonlight boasts over 3.5 million users and specializes in emergency response capabilities across IoT devices. Alarm.com's Chief Strategy Officer, Jeff Bedell, emphasized the alignment in missions to enhance safety technology. Noonlight will maintain its independent operations from St. Louis under its current management, leveraging Alarm.com's resources to expand its offerings further.
Alarm.com Holdings reported a second quarter total revenue increase of 12.7% year-over-year to $212.8 million, driven largely by a 14.4% rise in SaaS and license revenue to $129.5 million. However, GAAP net income dropped to $10.8 million from $14.7 million in Q2 2021, attributed to higher shipping and component costs. Non-GAAP adjusted EBITDA fell slightly to $37.1 million. The company anticipates SaaS and license revenue for Q3 2022 between $130.9 million and $131.1 million, and full-year revenue guidance now stands between $828.5 million and $859.0 million.
EnergyHub has launched EnergyHub EV, a solution designed for utilities to enhance electric vehicle (EV) demand flexibility and data management. This platform is built on the Mercury DERMS system, used by over 60 leading utilities managing over 700,000 devices including EVs and chargers. The solution improves grid reliability by optimizing charging and integrating vehicle-to-grid services. It features a mobile app for personalized charging preferences and supports various incentive programs, solidifying its role in the transition to a clean energy future.
Alarm.com Holdings will report its Q2 2022 financial results on August 9, 2022, after market close. Management will host a conference call at 4:30 p.m. ET the same day to discuss the results. Alarm.com is recognized as the leading platform for intelligently connected properties, providing advanced solutions for security, automation, and energy management. The company’s stock is traded on Nasdaq under the symbol ALRM.
Alarm.com has launched a new Solar Automation & Awareness service package and Solar Program Certification Course to meet rising demand in the solar market, which has seen a remarkable 42% average annual growth rate over the past decade. This integrated solution allows users with SolarEdge and Enphase inverters to monitor their solar energy production and consumption through Alarm.com's mobile app, enabling smarter energy decisions. The official launch is this month, aiming to enhance energy management for service providers and consumers alike.