ALARM.COM has reported total net revenues of $US90 million in the third quarter, an increase of 4.6 per cent above the previous quarter and 32.6 per cent year on year.
According to Alarm.com, the growth is coming from software as a service (SaaS) and license revenue, and hardware. SaaS and license revenues increased 39 per cent to $61.9 million, accounting for 69 per cent of the third quarter revenues.
Hardware revenues were up 20.8 per cent year on year to $28 million and contributed the remaining 31 per cent of total revenues. The company said the increase in hardware was driven by strong sales of video cameras, which the company introduced in the second quarter.
Total revenue for the full-year 2017 is expected to be in the range of $332.8 million to $334 million, which includes anticipated hardware and other revenue in the range of $98 million to $99 million.
“Most of our service providers are doing very well, particularly smaller, local dealers,” said Alarm.com President and CEO Steve Trundle. “Our smaller dealers tend to perform well in an environment, where the customers want a larger system, with a more highly customized installation, so we are seeing strength there.”
According to Trundle, the company added 2-way audio functionality to its indoor residential cameras. Updates were released to both the mobile and Apple TV applications. And the company further differentiated its video doorbell solution, by taking advantage of integration opportunities that Trundle said can only exist when a single holistic platform underlies the smart home.
Alarm.com doorbell users can now see who is at the door, speak to that person and then temporarily disarm the security system and unlock the door, all from a single interface and there’s the addition of a CCTV setup guide and humidity monitoring.
