Alarm.com Holdings has reported second quarter earnings per share 1 cent better than analyst estimates. Revenue for the quarter came in at $US51.9 million versus the consensus estimate of $48.19 million.
A leading platform solution for connected intrusion detection and home automation solutions, the company earned $51.95 million during the quarter, compared to analyst estimates of $48.19 million. Alarm.com’s quarterly revenue was up 23.5 per cent on a year-over-year basis. During the same quarter last year, the company posted 23 cents EPS.
Highlights of the second quarter included:
• Total revenue increased 23% to $51.9 million, compared to $42.1 million for the second quarter of 2014.
• Net income was $2.5 million, compared to $2.1 million for the second quarter of 2014.
• Adjusted EBITDA was $7.9 million, compared to $5.2 million for the second quarter of 2014.
“We maintained solid revenue growth and profitability in our first reporting period as a public company,” Alarm.com president and CEO Steve Trundle said.
“At the same time, we continued to invest in our core technology to enhance our connected home platform and to expand our footprint in international markets, and we anticipate continuing to step up our investments in the coming quarters while also continuing to produce positive cash flow from operations.” ♦
