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Jun 30, 2024
Alarm.com Q2 2024 Earnings Report
Reported solid results for the second quarter, driving growth and supporting service provider partners.
Key Takeaways
Alarm.com reported a 4.4% increase in total revenue to $233.8 million and a 112.1% increase in GAAP net income to $33.5 million compared to the second quarter of 2023. The company also increased its full year guidance for revenue, non-GAAP adjusted EBITDA and non-GAAP adjusted net income attributable to common stockholders.
SaaS and license revenue increased 11.0% to $155.9 million compared to the second quarter of 2023.
Total revenue increased 4.4% to $233.8 million compared to the second quarter of 2023.
GAAP net income attributable to common stockholders increased 112.1% to $33.5 million compared to the second quarter of 2023.
Non-GAAP adjusted EBITDA increased 17.8% to $42.8 million compared to the second quarter of 2023.
Alarm.com
Alarm.com
Alarm.com Revenue by Segment
Revenue by Segment
SaaS and License Revenue
CapyFin.com Forward Guidance
Alarm.com is providing its outlook for SaaS and license revenue for the third quarter of 2024 and increasing its guidance for revenue, non-GAAP adjusted EBITDA and non-GAAP adjusted net income attributable to common stockholders for the full year of 2024 based upon current management expectations.
Positive Outlook
- SaaS and license revenue is expected to be in the range of $157.3 million to $157.5 million for the third quarter of 2024.
- SaaS and license revenue is expected to be in the range of $626.8 million to $627.2 million for the full year 2024.
- Total revenue is expected to be in the range of $920.8 million to $931.2 million for the full year 2024.
- Non-GAAP adjusted EBITDA is expected to be in the range of $165.0 million to $167.0 million for the full year 2024.
- Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $119.5 million to $120.5 million for the full year 2024.