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Mar 31, 2020
Alarm.com Q1 2020 Earnings Report
Alarm.com's first quarter results for 2020 were reported, with SaaS and license revenue increasing by 14.9% year-over-year, and total revenue increasing by 35.3% year-over-year.
Key Takeaways
Alarm.com reported strong first quarter results with a 35.3% increase in total revenue to $151.9 million and a 14.9% increase in SaaS and license revenue to $91.9 million. Net income attributable to common stockholders was $8.8 million, or $0.18 per diluted share. The company acknowledges the impact of the COVID-19 pandemic beginning in March and anticipates a more challenging period for the remainder of the year.
SaaS and license revenue increased 14.9% to $91.9 million.
Total revenue increased 35.3% to $151.9 million.
GAAP net income attributable to common stockholders was $8.8 million, or $0.18 per diluted share.
Non-GAAP adjusted EBITDA increased to $29.2 million.
Alarm.com
Alarm.com
Alarm.com Revenue by Segment
Revenue by Segment
SaaS and License Revenue
CapyFin.comHardware and Other Revenue
CapyFin.com Forward Guidance
Alarm.com provided updated guidance for the second quarter and full year 2020, accounting for the uncertainties and assumptions related to the COVID-19 pandemic.
Positive Outlook
- SaaS and license revenue is expected to be in the range of $92.4 million to $92.8 million for Q2 2020.
- SaaS and license revenue is expected to be in the range of $375.0 million to $380.0 million for full year 2020.
- Total revenue is expected to be in the range of $515.0 million to $535.0 million for full year 2020.
- Non-GAAP adjusted EBITDA is expected to be in the range of $100.0 million to $103.0 million for full year 2020.
- Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $69.0 million to $73.5 million for full year 2020.
Challenges Ahead
- It is difficult to predict the duration and full scope of the impacts driven by the COVID-19 pandemic.
- Many service provider partners have experienced more difficult selling or installation conditions.
- Installation rates dropped significantly at the end of March and into April.
- Guidance is likely to be less exact than has been the case historically.
- Guidance assumes installation activity by service providers will gradually recover to 95% of Q1 2020 levels by Q4 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income