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Jun 30, 2023
Alarm.com Q2 2023 Earnings Report
Alarm.com's Q2 2023 financial performance reflected growth in SaaS and license revenue, along with increased GAAP net income, while non-GAAP adjusted EBITDA experienced a slight decrease.
Key Takeaways
Alarm.com reported a 5.2% increase in total revenue, reaching $223.9 million, and an 8.5% increase in SaaS and license revenue to $140.4 million. GAAP net income attributable to common stockholders rose to $15.8 million, while non-GAAP adjusted EBITDA was $36.4 million.
SaaS and license revenue increased by 8.5% year-over-year, reaching $140.4 million.
Total revenue grew by 5.2% compared to the same quarter last year, totaling $223.9 million.
GAAP net income attributable to common stockholders increased to $15.8 million, driven by a $6.4 million increase in interest income.
Non-GAAP adjusted EBITDA was $36.4 million, slightly lower than the $37.1 million reported in the second quarter of 2022.
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 its outlook for SaaS and license revenue for the third quarter of 2023 and increased its guidance for the full year of 2023, assuming no contribution from the Vivint license agreement.
Positive Outlook
- SaaS and license revenue is expected to be in the range of $141.4 million to $141.6 million for the third quarter of 2023.
- SaaS and license revenue is expected to be in the range of $562.3 million to $562.7 million for the full year of 2023.
- Total revenue is expected to be in the range of $872.3 million to $887.7 million for the full year of 2023.
- Hardware and other revenue is anticipated to be in the range of $310.0 million to $325.0 million for the full year of 2023.
- Non-GAAP adjusted EBITDA is expected to be in the range of $128.0 million to $131.0 million for the full year of 2023.
Challenges Ahead
- Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $92.2 million to $94.2 million for the full year of 2023.
- This guidance assumes no contribution from the Vivint license agreement.
- Actual results may differ materially due to various risks and uncertainties.
- The forward-looking statements represent the Company’s views and expectations as of the date hereof and are based on information currently available to the Company.
- The Company specifically disclaims any obligation to update guidance after such date except as required by law.
Revenue & Expenses
Visualization of income flow from segment revenue to net income