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Sep 30, 2024
Alarm.com Q3 2024 Earnings Report
Reported third quarter results with SaaS and license revenue increasing and GAAP net income attributable to common stockholders increasing.
Key Takeaways
Alarm.com reported strong third-quarter results, with SaaS and license revenue increasing by 9.8% and GAAP net income attributable to common stockholders increasing by 87.9%. The company also provided its financial outlook for SaaS and license revenue for the fourth quarter of 2024 and increased its guidance for the full year of 2024.
SaaS and license revenue increased 9.8% to $159.3 million compared to the third quarter of 2023.
Total revenue increased 8.4% to $240.5 million compared to the third quarter of 2023.
GAAP net income attributable to common stockholders increased 87.9% to $36.7 million compared to the third quarter of 2023.
Non-GAAP adjusted EBITDA increased 20.6% to $50.0 million compared to the third quarter of 2023.
Revenue by Segment
Forward Guidance
Alarm.com is providing its outlook for SaaS and license revenue for the fourth quarter of 2024 and increasing its guidance 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 $163.2 million to $163.4 million for the fourth quarter of 2024.
- SaaS and license revenue is expected to be in the range of $628.7 million to $628.9 million for the full year 2024.
- Total revenue is expected to be in the range of $933.7 million to $935.9 million for the full year 2024, which includes anticipated hardware and other revenue in the range of $305.0 million to $307.0 million.
- Non-GAAP adjusted EBITDA is expected to be in the range of $174.0 million to $176.0 million for the full year 2024.
- Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $125.5 million to $126.5 million for the full year 2024, based on an estimated tax rate of 21.0%.
Challenges Ahead
- The 2024 guidance provided above is forward-looking in nature.
- Actual results may differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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