Business
Alarm.com Reports Fourth Quarter and Full Year 2024 Results
-- Fourth quarter SaaS and license revenue increased to $165.7 million, compared to $148.3 million for the fourth quarter of 2023 -- -- Fourth quarter GAAP
About this update from Alarm.com Holdings, Inc.
[{"type":"text","content":"\n-- Fourth quarter SaaS and license revenue increased to $165.7 million, compared to $148.3 million for the fourth quarter of 2023 --\n\n-- Fourth quarter GAAP net income of $30.1 million, compared to $31.2 million for the fourth quarter of 2023--\n\n-- Full year 2024 SaaS and license revenue increased to $631.2 million, compared to $569.2 million for 2023 --\n\n-- Full year 2024 GAAP net income increased to $122.5 million, compared to $80.3 million for 2023 --\n\n-- Full year 2024 non-GAAP adjusted EBITDA increased to $176.2 million, compared to $154.0 million for 2023 --\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 fourth quarter and full year ended December 31, 2024. Alarm.com also provided its financial outlook for SaaS and license revenue for the first quarter of 2025 and guidance for the full year 2025.\n\n“I want to thank our team and our service provider partners for their help in delivering another quarter and year of solid financial performance,” said Steve Trundle, CEO of Alarm.com. “During 2024, our teams strengthened our position in the markets we serve through product innovation, including new AI-based video analytics capabilities, and expanded our opportunity in the remote video monitoring market through organic research and development and execution of our corporate development strategy. Our growth initiatives also contributed strongly to our consolidated growth as they continued to scale.”\n\nFourth Quarter 2024 Financial Results as Compared to Fourth Quarter 2023\n\n\nSaaS and license revenue increased 11.7% to $165.7 million, compared to $148.3 million.\n\n\nTotal revenue increased 7.1% to $242.2 million, compared to $226.2 million.\n\n\nGAAP net income of $30.1 million, compared to $31.2 million. GAAP net income attributable to common stockholders of $30.3 million, or $0.56 per diluted share, compared to $31.3 million, or $0.58 per diluted share.\n\n\nNon-GAAP adjusted EBITDA(*) increased to $46.4 million, compared to $45.6 million.\n\n\nNon-GAAP adjusted net income attributable to common stockholders(*) decreased to $32.6 million, or $0.58 per diluted share, compared to $33.9 million, or $0.62 per diluted share.\n\n\nFull Year 2024 Financial Results as Compared to Full Year...