Alarm.com Q3 2020 Earnings Report
Key Takeaways
Alarm.com reported a strong third quarter in 2020, with total revenue increasing by 24.2% year-over-year to $158.9 million and SaaS and license revenue growing by 17.9% to $100.1 million. GAAP net income attributable to common stockholders was $36.1 million, a significant increase from $17.7 million in the same quarter of the previous year.
SaaS and license revenue increased 17.9% year-over-year to $100.1 million.
Total revenue increased 24.2% year-over-year to $158.9 million.
GAAP net income attributable to common stockholders was $36.1 million, compared to $17.7 million for the third quarter of 2019.
Non-GAAP adjusted EBITDA increased 31.1% year-over-year to $34.5 million.
Alarm.com
Alarm.com
Alarm.com Revenue by Segment
Forward Guidance
Alarm.com provided guidance for the fourth quarter of 2020 and increased its guidance for the full year of 2020.
Positive Outlook
- SaaS and license revenue is expected to be in the range of $101.2 million to $101.4 million for Q4 2020.
- SaaS and license revenue is expected to be in the range of $389.0 million to $389.2 million for the full year 2020.
- Total revenue is expected to be in the range of $594.0 million to $604.2 million for the full year 2020.
- Hardware and other revenue is anticipated to be in the range of $205.0 million to $215.0 million for the full year 2020.
- Non-GAAP adjusted EBITDA is expected to be in the range of $113.0 million to $115.0 million for the full year 2020.
Challenges Ahead
- The general economic situation remains fluid.
- It remains challenging to predict the full scope and duration of the impacts of the COVID-19 pandemic.
- Actual results may differ materially from guidance.
- The guidance is based on expectations as of the date of the press release.
- Alarm.com undertakes no obligation to update guidance after such date.
Revenue & Expenses
Visualization of income flow from segment revenue to net income