Alarm.com Revenue Up 12.7 Per Cent
♦ Alarm.com Revenue Up 12.7 Per Cent – Alarm.com revenue increased 12.7 per cent in Q2 of this financial year to nearly $US213 million, leading to increased revenue guidance.
“We’re pleased to report solid results for the second quarter,” says Steve Trundle, president and CEO of Alarm.com. “During the quarter, our service provider partners continued to drive adoption of Alarm.com’s technology as the market for connected property technology remained healthy.”
SaaS and license revenue increased 14.4 per cent to $129.5 million, compared to $113.2 million. Revenue increased 12.7 per cent to $212.8 million, compared to $188.9 million, while adjusted EBITDA decreased to $37.1 million, compared to $38 million.
Alarm.com cash holdings eased to $643.4 million at June 30, 2022, compared to $710.6 million for the 6 month prior – this was due to repurchase of 834,654 shares of Alarm.com common stock for $51.5 million. Alarm.com’s cash flow was $26.2 million for Q2 and this quarter the company bought land near its headquarters for $21.5 million.
Expectations for SaaS and license revenue for this financial year have been increased to around $519 million, with total revenue up to $859 million, including anticipated hardware and other revenue, which will generate up to $340 million.
Key developments for Q2 included Alarm.com’s launch of its Smart Arming for smart homes, which provides intelligent, automatic system arming and disarming that dynamically adjusts based on user selectable periods of domestic activity monitoring.
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