Alarm.com Holdings, Inc. (ALRM) Bundle
An Overview of Alarm.com Holdings, Inc. (ALRM)
General Summary of Alarm.com Holdings, Inc.
Alarm.com Holdings, Inc. (ALRM) was founded in 2000 and is headquartered in Tysons, Virginia. The company provides cloud-based services for the connected property, including security, automation, and energy management solutions. Alarm.com operates a platform that allows home and business owners to monitor and control their properties remotely via mobile devices. As of 2024, Alarm.com has over 8 million subscribers and generates revenue primarily through its Software as a Service (SaaS) offerings, which include security and automation services.
In 2024, Alarm.com reported total sales of approximately $697.6 million for the nine months ended September 30, 2024, marking an increase from $655.4 million in the same period of the previous year .
Company's Financial Performance in the Latest Financial Reports
For the nine months ended September 30, 2024, Alarm.com reported a total revenue of $697.6 million, representing a growth of 6% compared to $655.4 million for the same period in 2023. The revenue from SaaS and license increased by 11% to $465.5 million, while hardware and other revenue was $232.0 million .
Net income for the nine months ended September 30, 2024, reached $92.4 million, up from $49.2 million in the prior year, indicating a significant year-over-year increase . Adjusted EBITDA also saw a rise, with non-GAAP adjusted EBITDA climbing to $129.9 million from $108.4 million in the same period last year .
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Total Revenue | $697.6 million | $655.4 million | 6% |
| SaaS and License Revenue | $465.5 million | $420.9 million | 11% |
| Net Income | $92.4 million | $49.2 million | 88% |
| Non-GAAP Adjusted EBITDA | $129.9 million | $108.4 million | 20% |
Introduction to Company as a Leader in the Industry
Alarm.com is recognized as a leading provider in the connected property market, with a robust platform that integrates various smart home technologies. The company’s innovative solutions cater to both residential and commercial sectors, making it a preferred choice among service providers and end users alike. Alarm.com maintains a competitive edge through continuous investment in research and development, enhancing its product offerings and expanding its market reach.
As of September 30, 2024, Alarm.com reported a workforce of 2,055 employees, up from 1,986 the previous year, underscoring its commitment to growth and innovation in the rapidly evolving IoT landscape .
Mission Statement of Alarm.com Holdings, Inc. (ALRM)
Company's Mission Statement Overview
The mission statement of Alarm.com Holdings, Inc. (ALRM) is pivotal in guiding the company’s strategic direction and long-term goals. It encapsulates their commitment to providing innovative, cloud-based solutions for property management, security, and smart home automation. Alarm.com’s mission reflects its dedication to enhancing the safety, security, and efficiency of connected properties, positioning itself as a leader in the Internet of Things (IoT) sector.
Core Component 1: Innovation
Innovation is a cornerstone of Alarm.com’s mission. The company invests significantly in research and development to foster technological advancements. In the nine months ending September 30, 2024, Alarm.com reported a research and development expense of $193.9 million, which represented 28% of total revenue. This investment has enabled the company to continuously enhance its product offerings, ensuring they remain at the forefront of the smart home technology market.
Core Component 2: Customer-Centric Solutions
Alarm.com’s mission emphasizes delivering customer-centric solutions. The company focuses on understanding the needs of its users to provide tailored services that enhance user experience. As of September 30, 2024, the company had a total revenue of $697.6 million, with SaaS and license revenue accounting for $465.5 million, reflecting an 11% increase year-over-year. This growth is largely attributed to an expanding subscriber base and the introduction of new features that meet customer demands.
Core Component 3: Security and Reliability
Security and reliability are fundamental aspects of Alarm.com’s mission. The company aims to provide secure solutions that users can trust. Alarm.com reported a net income of $92.4 million for the nine months ended September 30, 2024, showcasing its financial health and operational effectiveness. Furthermore, the company has maintained a robust infrastructure to ensure continuous service availability, which is critical in the security industry.
| Financial Metrics | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Total Revenue | $240.5 million | $221.9 million | 8% |
| SaaS and License Revenue | $159.3 million | $145.0 million | 10% |
| Net Income | $36.7 million | $19.5 million | 88% |
| Research and Development Expense | $62.2 million | $61.0 million | 2% |
Alarm.com’s mission statement not only articulates its core values but also drives its strategic initiatives and operational practices. The alignment of innovation, customer-centric solutions, and security underpins the company’s efforts to maintain a competitive edge in the rapidly evolving technology landscape.
Vision Statement of Alarm.com Holdings, Inc. (ALRM)
Vision Statement Overview
The vision statement of Alarm.com Holdings, Inc. (ALRM) emphasizes its commitment to becoming the leading platform for the intelligently connected property, integrating various technologies to enhance security, automation, and energy management across residential and commercial sectors.
Commitment to Innovation
Alarm.com aims to drive technological innovation within the IoT space. As of September 30, 2024, the company reported a revenue increase of 10% in SaaS and license revenue, reaching $159.3 million compared to $145.0 million for the same quarter in 2023. This growth reflects the company's dedication to enhancing its offerings through continuous improvement and innovation.
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| SaaS and License Revenue | $159.3 million | $145.0 million |
| Percentage Increase | 10% | N/A |
Customer-Centric Solutions
Alarm.com focuses on delivering customer-centric solutions that meet the needs of both residential and commercial clients. The company's platform supports a wide array of services, including security, video monitoring, and intelligent automation. As of September 30, 2024, Alarm.com generated 66% of its total revenue from SaaS and license services, underscoring the importance of these offerings to its overall business model.
| Revenue Breakdown | Q3 2024 | Q3 2023 |
|---|---|---|
| SaaS and License Revenue Percentage | 66% | 65% |
| Hardware and Other Revenue Percentage | 34% | 35% |
Partnership Ecosystem
Alarm.com operates through a robust ecosystem of service provider partners who play a pivotal role in delivering its solutions. This partnership model enables the company to expand its reach and enhance its service delivery. As of September 30, 2024, Alarm.com reported a total revenue of $240.5 million, a significant increase from $221.9 million in the prior year, demonstrating the effectiveness of its partnership strategy.
| Financial Performance | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Revenue | $240.5 million | $221.9 million |
| Operating Income | $33.2 million | $16.2 million |
Sustainability and Energy Management
As part of its vision, Alarm.com is committed to sustainability through energy management solutions. The company aims to integrate energy management features into its platform, reflecting a growing focus on environmentally responsible practices. Alarm.com’s emphasis on these solutions positions it well in a market increasingly driven by sustainability concerns.
Global Expansion and Market Leadership
Alarm.com is focused on expanding its market presence both domestically and internationally. The company reported a significant increase in its total assets, which reached $1.97 billion as of September 30, 2024, compared to $1.44 billion at the end of 2023. This growth in assets supports Alarm.com's strategy to enhance its capabilities and expand its service offerings globally.
| Assets | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $1.97 billion | $1.44 billion |
Core Values of Alarm.com Holdings, Inc. (ALRM)
Customer Commitment
The core value of customer commitment at Alarm.com Holdings, Inc. emphasizes the importance of meeting and exceeding customer expectations through innovative solutions and exceptional service.
In 2024, Alarm.com reported a SaaS and license revenue of $465.5 million for the nine months ended September 30, 2024, reflecting a 11% increase from $420.9 million for the same period in 2023. This growth is attributed to the company's strong focus on enhancing the customer experience and providing reliable service through an established network of service provider partners.
Innovation
Innovation is a core value that drives Alarm.com to continuously improve its offerings and stay ahead in the IoT solutions market. The company invests significantly in research and development to introduce cutting-edge technology.
In 2024, Alarm.com allocated $42.3 million to research and development expenses during the nine months ended September 30, 2024, compared to $37.0 million in the same period in 2023. This commitment to innovation has allowed Alarm.com to expand its product offerings and enhance the functionality of its existing solutions.
Integrity
Integrity is fundamental to Alarm.com's operations, fostering trust and transparency with customers, partners, and stakeholders. The company adheres to high ethical standards in its business practices.
Alarm.com has maintained a strong financial position, with total assets of $1.97 billion as of September 30, 2024. The company's adherence to integrity is evident in its governance practices and commitment to ethical conduct, which are essential for sustaining long-term relationships with its stakeholders.
Collaboration
Collaboration is vital for Alarm.com, enabling the company to leverage diverse expertise and perspectives to create integrated solutions. The company fosters teamwork internally and with external partners.
As of September 30, 2024, Alarm.com employed 2,055 employees, up from 1,986 in the previous year. This growth in workforce is indicative of Alarm.com's commitment to collaboration, as the company continues to expand its team to enhance its operational capabilities and service delivery.
Accountability
Accountability at Alarm.com ensures that employees take ownership of their responsibilities, driving performance and results. This core value promotes a culture of responsibility and excellence within the organization.
In the nine months ended September 30, 2024, Alarm.com reported a net income of $92.4 million, significantly up from $49.2 million in the same period of 2023. This increase reflects the company's accountability in achieving its financial goals and maintaining operational efficiency.
| Core Value | Key Metrics |
|---|---|
| Customer Commitment | SaaS and License Revenue: $465.5 million (2024) |
| Innovation | R&D Expenses: $42.3 million (2024) |
| Integrity | Total Assets: $1.97 billion (2024) |
| Collaboration | Employees: 2,055 (2024) |
| Accountability | Net Income: $92.4 million (2024) |
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Resources:
- Alarm.com Holdings, Inc. (ALRM) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Alarm.com Holdings, Inc. (ALRM)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Alarm.com Holdings, Inc. (ALRM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.