Alarm.com’s SaaS business model rocketed more than 21 per cent in 2021, with 10 per cent growth forecast for 2022 on the way to total projected sales of $US820 million.
“We are pleased to report solid results for the quarter and the year,” said Steve Trundle, president and CEO of Alarm.com. “Despite the pandemic’s unpredictable course, our service provider partners continued to grow and drive the adoption of Alarm.com’s connected property technology.
“Our team also delivered innovative new capabilities that will expand the growth opportunities we see in multiple markets for our service provider partners and Alarm.com.”
In 2021, recurring monthly revenue and license revenue increased 17.1 per cent to $460.4 million, compared to $393.3 million. Total revenue increased 21.2 per cent to $749 million, compared to $618 million. Meanwhile, EBITDA increased 13.7 per cent to $142.5 million, compared to $125.3 million in 2020. The company has $710.6 million in cash and cash equivalent reserves compared to $253.5 million the year prior.
Highlights of 2021 includes the launch of a new smart thermostat, the release of a multilocation commercial subscriber service and the expansion of subsidiary EnergyHub to support 60 per cent of American energy suppliers.
New connected device integrations in 2021 include the latest models of security control panels, as well as automation brands including Genie overhead garage door openers, ecobee, Lennox, Lutron, Kwikset, Yale, Schlage and Haven.
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