Alarm.com Holdings, Inc., a platform for the intelligently connected property, has reported financial results for its third quarter, which ended on Sept., 30, 2019. Alarm.com also provided its financial outlook for SaaS and license revenue for the fourth quarter of 2019 and increased its revenue guidance for the full year of 2019.
“We are pleased to report another quarter of solid results,” says Steve Trundle, president and CEO of Alarm.com.
“Our service provider partners continued to drive adoption of the full range of our residential and commercial services. We also completed the acquisition of OpenEye which will allow us to further expand our addressable market in the commercial space and create another growth opportunity for Alarm.com and our service provider partners.”
Third Quarter 2019 Financial Results as Compared to Third Quarter 2018:
- SaaS and license revenue increased 14.3% to $84.9 million, compared to $74.3 million. SaaS and license revenue includes software license revenue of $10.8 million, compared to $10.5 million.
- Total revenue increased 14.3% to $127.9 million, compared to $111.8 million.
- GAAP net income was $17.7 million, or $0.35 per diluted share, compared to $7.7 million net loss, or $0.16 loss per diluted share.
- GAAP results include a $6.9 million gain from investment activities which are reported as an increase in other income, net.
- Non-GAAP adjusted EBITDA increased to $26.3 million, compared to $25.8 million.
- Non-GAAP adjusted net income increased to $18.6 million, or $0.37 per diluted share, compared to $18.2 million or $0.36 per diluted share.
Related content: Alarm.com Acquires OpenEye to Expand Commercial VSaaS Portfolio