Alarm Com Hldgs Inc Stock Price, News & Analysis

EnergyHub, a leading grid-edge flexibility provider, and Wallbox (NYSE:WBX), a global EV charging and energy management company, have partnered to expand access to utility programs for EV managed charging across North America. This integration will make Wallbox EV chargers eligible for utility active and passive managed charging programs, addressing the growing demand for residential charging solutions.

The partnership aims to help utilities reshape EV charging load, protect distribution assets, and manage load growth while offering customers financial incentives. Wallbox devices are expected to be enrolled in utility programs by August 2024. This collaboration aligns with the increasing adoption of home EV charging, which accounts for 80% of all EV charging according to the U.S. Department of Energy.

Alarm.com Holdings, Inc. (Nasdaq: ALRM), the leading platform for intelligently connected properties, has announced it will report its 2024 second quarter financial results after the market close on August 8, 2024. The company will host a conference call and webcast to discuss these results at 4:30 p.m. ET on the same day. Investors can pre-register for the conference call to obtain dial-in information or listen via webcast on Alarm.com's investor relations website. A recorded version will be available after the call concludes.

Alarm.com is a prominent platform for managing and controlling properties remotely, serving millions of consumers and businesses. The company's technology integrates various Internet of Things (IoT) devices and offers solutions for security, video, access control, automation, energy management, and wellness through a network of professional service providers globally.

Alarm.com (Nasdaq: ALRM), a leading platform for intelligently connected properties, announced its participation in the 10th Annual Roth London Conference. Steve Valenzuela, the company's Chief Financial Officer, will host one-on-one investor meetings on Wednesday, June 26, 2024. This event offers a significant opportunity for investors to engage directly with Alarm.com's financial leadership and gain insights into the company's strategies and performance.

EnergyHub has received a California Energy Commission (CEC) grant to enhance the deployment of virtual power plants (VPPs) in California. The $1.5 million initiative, initiated on June 6th, aims to enroll up to 7,000 new distributed energy resources (DERs) such as thermostats, electric vehicles (EVs), and batteries into VPPs. This project supports California's 100% renewable energy goal and addresses resource adequacy issues. EnergyHub’s DER management system will aggregate these resources, which can be bid into the CAISO market through a partnership with Leap. The grant focuses on low- and moderate-income customers and allows device owners to enroll through their utility or directly with EnergyHub. The initiative highlights the importance of multi-DER control for improved load shaping and grid reliability.

Alarm.com has announced the pricing of $425 million aggregate principal amount of 2.25% Convertible Senior Notes due 2029 in a private placement to qualified institutional buyers. The offering size increased from $375 million to $425 million, with an option for initial purchasers to buy an additional $75 million in notes. The sale is expected to close on May 31, 2024. The notes, maturing on June 1, 2029, will bear interest at 2.25% annually, payable semiannually. Alarm.com plans to use $53.6 million of the proceeds for capped call transactions and $75 million for share repurchases, with the remaining funds for general corporate purposes. The notes are convertible into cash, shares, or a mix of both at an initial conversion rate of 11.4571 shares per $1,000 principal amount, reflecting a 30% premium over the May 28, 2024, closing price. The capped call transactions aim to mitigate stock dilution upon conversion, with a cap price of $134.28 per share.

Alarm.com (Nasdaq: ALRM) announced a proposed private placement of $375 million worth of Convertible Senior Notes due 2029. The offering is directed at institutional buyers under Rule 144A of the Securities Act. An option to purchase an additional $56.25 million of notes is also included.

The notes are unsecured, with interest paid semiannually, and can be converted into cash, stock, or both. Proceeds will be used for capped call transactions, repurchasing up to $75 million of common stock, and general purposes like acquisitions, investments, and repaying 2026 notes.

Capped call transactions aim to reduce potential stock dilution upon note conversion. Alarm.com plans to purchase shares of its own stock to manage market price fluctuations. The offering and share repurchase are not contingent upon each other.

Alarm.com reported strong financial results for the first quarter of 2024, with SaaS and license revenue increasing by 11.0% to $150.3 million. The company also saw a 63.7% increase in GAAP net income and a 21.2% increase in non-GAAP adjusted EBITDA compared to the first quarter of 2023. Alarm.com expanded its commercial offering with the Connected Fleet Solution and introduced new AI-powered video analytics capabilities. The company provided an optimistic financial outlook for the second quarter of 2024 and increased its guidance for the full year, expecting significant growth in revenue and profitability.

Alarm.com Holdings, Inc. (ALRM) CFO, Steve Valenzuela, will participate in upcoming investor conferences in May and June 2024, including the J.P. Morgan Global Technology, Bank of America Global Technology, and Jefferies Software Conferences. The CFO will host one-on-one investor meetings and fireside chats, presenting opportunities for networking and discussing the company's performance and future prospects.