Business
Alarm.com Reports Second Quarter 2020 Results
-- Second quarter SaaS and license revenue increased 16.2% year-over-year to $95.7 million -- -- Second quarter total revenue increased 16.4% year-over-year
About this update from Alarm.com Holdings, Inc.
[{"type":"text","content":"\n-- Second quarter SaaS and license revenue increased 16.2% year-over-year to $95.7 million --\n\n\n-- Second quarter total revenue increased 16.4% year-over-year to $141.6 million --\n\n\n-- Second quarter GAAP net income attributable to common stockholders of $17.0 million, compared to $13.8 million for the second quarter of 2019 --\n\n\n-- Second quarter non-GAAP adjusted EBITDA increased 5.4% year-over-year to $29.2 million, compared to $27.7 million for the second quarter of 2019 --\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 second quarter ended June 30, 2020. Alarm.com also provided its financial outlook for SaaS and license revenue for the third quarter of 2020 and increased its guidance for the full year of 2020.\n\n\n“While we saw some modest disruption, Alarm.com’s service provider partners and our team continued to execute effectively in delivering innovative technology solutions to millions of properties through the ongoing COVID-19 pandemic,” said Steve Trundle, President and CEO of Alarm.com. “As a result, I’m pleased to report solid second quarter results. Our markets continued to show positive momentum, and we remain in a strong position to manage through the uncertainty caused by the pandemic.”\n\n\nSecond Quarter 2020 Financial Results as Compared to Second Quarter 2019\n\n\n\nSaaS and license revenue increased 16.2% to $95.7 million, compared to $82.3 million.\n\n\nTotal revenue increased 16.4% to $141.6 million, compared to $121.7 million.\n\n\nGAAP net income attributable to common stockholders was $17.0 million, or $0.34 per diluted share, compared to $13.8 million, or $0.27 per diluted share.\n\n\nNon-GAAP adjusted EBITDA increased to $29.2 million, compared to $27.7 million.\n\n\nNon-GAAP adjusted net income attributable to common stockholders increased to $20.6 million, or $0.41 per diluted share, compared to $19.9 million or $0.40 per diluted share.\n\n\n\nBalance Sheet and Cash Flow\n\n\n\nTotal cash and cash equivalents increased to $205.8 million as of June 30, 2020, compared to $119.6 million as of December 31, 2019.\n\n\nFor the quarter ended June 30, 2020, cash flows from operations was $35.1 million and free cash flow was $31.8 million, compared to cash flows ...