Alarm Com Hldgs Inc Stock Price, News & Analysis

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.

Alarm.com highlights the growing trend of home ownership with tips for protecting investments in the home. Recent data shows first-time home buyers increased to 34% between July 2020 and June 2021. The company outlines 12 essential items for homeowners, emphasizing smart home technologies like security systems and thermostats to enhance safety and efficiency. Alarm.com's solutions include smarter locks, video surveillance, and connected smoke alarms to ensure comprehensive protection. As the leading platform in connected property management, Alarm.com continues to support millions of consumers and businesses with innovative IoT technologies.

Alarm.com Holdings, traded as ALRM on Nasdaq, announces that Steve Valenzuela, CFO, will host investor meetings at the 8th Annual Roth London Conference from June 21 to June 23, 2022. Alarm.com is a leader in the intelligently connected property sector, offering technology solutions for security, video, access control, automation, and more. Their platform integrates with numerous Internet of Things (IoT) devices, serving millions globally through a network of service providers.