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Dec 31, 2022
Alarm.com Q4 2022 Earnings Report
Alarm.com reported solid results for Q4 2022, with increased SaaS and license revenue, total revenue and GAAP net income.
Key Takeaways
Alarm.com's Q4 2022 results showed strong growth in key areas. SaaS and license revenue increased by 10.5% year-over-year, while total revenue grew by 6.6%. GAAP net income attributable to common stockholders saw a significant increase of 97.7%. The company also provided financial outlook for Q1 2023 and full year 2023, indicating continued growth.
SaaS and license revenue increased 10.5% year-over-year to $134.6 million.
Total revenue increased 6.6% year-over-year to $208.1 million.
GAAP net income attributable to common stockholders increased 97.7% to $18.1 million.
Non-GAAP adjusted EBITDA increased 24.5% to $39.0 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 provided its outlook for SaaS and license revenue for the first quarter of 2023 and its guidance for the full year of 2023 based upon current management expectations. This guidance assumes no contribution from the Vivint license agreement.
Positive Outlook
- SaaS and license revenue is expected to be in the range of $132.4 million to $132.6 million for the first quarter of 2023.
- SaaS and license revenue is expected to be in the range of $551.5 million to $552.5 million for the full year 2023.
- Total revenue is expected to be in the range of $851.5 million to $877.5 million for the full year 2023, which includes anticipated hardware and other revenue in the range of $300.0 million to $325.0 million.
- Non-GAAP adjusted EBITDA is expected to be in the range of $115.0 million to $125.0 million for the full year 2023.
- Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $79.7 million to $86.5 million, based on an estimated tax rate of 21.0% for the full year 2023.
Challenges Ahead
- Assumes no contribution from the Vivint license agreement.
- SaaS and license revenue, total revenue, earnings and cash flow will be impacted by approximately $6.0 million each quarter due to Vivint license agreement, plus significant additional legal fees.
- Assumed no additional unusual impact from the COVID-19 pandemic.
- Assumed no other material geopolitical events which might disrupt business, supply chains or otherwise impact results.
- Actual results may differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income