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Alarm.com
🇺🇸 NASDAQ:ALRM
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•
Dec 31, 2023

Alarm.com Q4 2023 Earnings Report

Reported solid results for the quarter and the year, driving growth through a diverse suite of connected property solutions and delivering technology and support for service provider partners.

Key Takeaways

Alarm.com reported an 8.7% increase in total revenue to $226.2 million and a 10.3% increase in SaaS and license revenue to $148.3 million for the fourth quarter of 2023. GAAP net income attributable to common stockholders increased to $31.3 million, or $0.58 per diluted share.

SaaS and license revenue increased 10.3% to $148.3 million compared to Q4 2022.

Total revenue increased 8.7% to $226.2 million compared to Q4 2022.

GAAP net income attributable to common stockholders increased to $31.3 million, or $0.58 per diluted share, compared to $18.1 million, or $0.34 per diluted share in Q4 2022.

Non-GAAP adjusted EBITDA increased to $45.6 million, compared to $39.0 million in Q4 2022.

Total Revenue
$226M
Previous year: $208M
+8.7%
EPS
$0.62
Previous year: $0.53
+17.0%
Gross Profit
$145M
Previous year: $129M
+12.8%
Cash and Equivalents
$697M
Previous year: $622M
+12.0%
Free Cash Flow
$37.7M
Previous year: $33.9M
+11.2%
Total Assets
$1.44B
Previous year: $1.33B
+8.3%

Alarm.com

Alarm.com

Alarm.com Revenue by Segment

Forward Guidance

Alarm.com is providing its outlook for SaaS and license revenue for the first quarter of 2024 and its guidance for the full year 2024 based upon current management expectations.

Positive Outlook

  • SaaS and license revenue is expected to be in the range of $148.6 million to $148.8 million for the first quarter of 2024.
  • SaaS and license revenue is expected to be in the range of $622.5 million to $623.5 million for the full year 2024.
  • Total revenue is expected to be in the range of $912.5 million to $933.5 million for the full year 2024.
  • Non-GAAP adjusted EBITDA is expected to be in the range of $160.0 million to $164.0 million for the full year 2024.
  • Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $116.0 million to $118.1 million for the full year 2024.

Challenges Ahead

  • Actual results may differ materially due to various risks and uncertainties.
  • Global economic uncertainty and financial market conditions may impact demand.
  • Supply chain disruptions could affect the Company's ability to deliver products.
  • Increased competition and evolving technologies could impact results.
  • The Company's ability to integrate acquired assets and businesses.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Alarm.com