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Jun 30, 2021
Alarm.com Q2 2021 Earnings Report
Alarm.com reported solid results in the second quarter of 2021, with significant revenue growth and strategic advancements.
Key Takeaways
Alarm.com's second quarter 2021 results showed strong year-over-year growth in total revenue and SaaS and license revenue. The company launched new services and received industry awards, while also increasing its financial outlook for the full year.
Total revenue increased by 33.3% year-over-year, reaching $188.9 million.
SaaS and license revenue grew by 18.3% year-over-year, amounting to $113.2 million.
GAAP net income attributable to common stockholders decreased to $14.7 million, or $0.28 per diluted share.
Non-GAAP adjusted EBITDA increased to $38.0 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 is providing its outlook for SaaS and license revenue for the third quarter of 2021 and increasing its guidance for the full year of 2021 based upon current management expectations.
Positive Outlook
- SaaS and license revenue is expected to be in the range of $114.9 million to $115.1 million for Q3 2021.
- SaaS and license revenue is expected to be in the range of $452.3 million to $452.8 million for the full year of 2021.
- Total revenue is expected to be in the range of $707.3 million to $717.8 million for the full year of 2021.
- Hardware and other revenue in the range of $255.0 million to $265.0 million is expected for the full year of 2021.
- Non-GAAP adjusted EBITDA is expected to be in the range of $133.0 million to $134.5 million for the full year of 2021.
Challenges Ahead
- Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $93.0 million to $93.7 million for the full year of 2021.
- The guidance provided is forward-looking in nature and actual results may differ materially.
- Guidance is based on expectations as of the date of the press release, and Alarm.com undertakes no obligation to update guidance after such date.
- Reconciliation of adjusted EBITDA and adjusted net income attributable to common stockholders guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability.
- Non-ordinary course litigation expense, acquisition-related expense and tax windfall adjustments can have unpredictable fluctuations based on unforeseen activity that is out of Alarm.com's control and/or cannot reasonably be predicted.
Revenue & Expenses
Visualization of income flow from segment revenue to net income