Business
Alarm.com Reports First Quarter 2022 Results
-- First quarter total revenue increased 19.1% year-over-year to $205.4 million -- -- First quarter SaaS and license revenue increased 14.8% year-over-year
About this update from Alarm.com Holdings, Inc.
[{"type":"text","content":"\n-- First quarter total revenue increased 19.1% year-over-year to $205.4 million --\n\n-- First quarter SaaS and license revenue increased 14.8% year-over-year to $123.2 million --\n\n-- First quarter GAAP net income attributable to common stockholders was $9.1 million, compared to $14.8 million for the first quarter of 2021 --\n\n-- First quarter non-GAAP adjusted EBITDA was $29.9 million, compared to $35.6 million for the first quarter of 2021 --\n\n TYSONS, Va.--(BUSINESS WIRE)--\nAlarm.com Holdings, Inc. (Nasdaq: ALRM), the leading platform for the intelligently connected property, today reported financial results for its first quarter ended March 31, 2022. Alarm.com also provided its financial outlook for SaaS and license revenue for the second quarter of 2022 and increased its revenue guidance for the full year of 2022.\n\n“We’re pleased with the level of demand for our products and services that we saw in the first quarter,” said Steve Trundle, President and CEO of Alarm.com. “We navigated the many supply chain challenges during the quarter. We provided a high level of products to our service providers to support their subscriber additions, and incurred meaningfully higher shipping and inventory component costs while delivering higher Adjusted EBITDA than expected. Our research and development teams also delivered innovative, award-winning technology, including expanding our video analytics platform to address additional market segments.”\n\nFirst Quarter 2022 Financial Results as Compared to First Quarter 2021\n\n\nSaaS and license revenue increased 14.8% to $123.2 million, compared to $107.4 million.\n\n\nTotal revenue increased 19.1% to $205.4 million, compared to $172.5 million.\n\n\nGAAP net income attributable to common stockholders decreased to $9.1 million, or $0.18 per diluted share, compared to $14.8 million, or $0.29 per diluted share, primarily due to an increase in shipping costs and inventory component costs for hardware due to the global supply chain challenges.\n\n\nNon-GAAP adjusted EBITDA(*) decreased to $29.9 million, compared to $35.6 million.\n\n\nNon-GAAP adjusted net income attributable to common stockholders(*) decreased to $21.3 million, or $0.39 per diluted share, compared to $25.8 million or $0.50 per diluted share.\n\n\nBalance Sheet and Cash Flow\n\n\nTotal cash and cash equivalents decreased...