Business
Alarm.com Reports Third Quarter 2020 Results
-- Third quarter SaaS and license revenue increased 17.9% year-over-year to $100.1 million -- -- Third quarter total revenue increased 24.2% year-over-year
About this update from Alarm.com Holdings, Inc.
[{"type":"text","content":"\n-- Third quarter SaaS and license revenue increased 17.9% year-over-year to $100.1 million --\n\n-- Third quarter total revenue increased 24.2% year-over-year to $158.9 million --\n\n-- Third quarter GAAP net income attributable to common stockholders of $36.1 million, compared to $17.7 million for the third quarter of 2019 --\n\n-- Third quarter non-GAAP adjusted EBITDA increased 31.1% year-over-year to $34.5 million, compared to $26.3 million for the third 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 third quarter ended September 30, 2020. Alarm.com also provided its financial outlook for SaaS and license revenue for the fourth quarter of 2020 and increased its guidance for the full year of 2020.\n\n“We are pleased to report strong results this quarter,” said Steve Trundle, President and CEO of Alarm.com. “Our more than 9,000 service provider partners have been able to operate very effectively around the challenges posed by the pandemic and have been successfully activating new subscribers with an increasing range of connected property services. Our team also delivered innovative new products that will enhance our service providers’ competitive position. While there continue to be challenges, we feel we are well positioned to manage through the uncertainty caused by the pandemic.”\n\nThird Quarter 2020 Financial Results as Compared to Third Quarter 2019\n\n\nSaaS and license revenue increased 17.9% to $100.1 million, compared to $84.9 million.\n\n\nTotal revenue increased 24.2% to $158.9 million, compared to $127.9 million.\n\n\nGAAP net income attributable to common stockholders was $36.1 million, or $0.71 per diluted share, compared to $17.7 million, or $0.35 per diluted share.\n\n\nNon-GAAP adjusted EBITDA increased to $34.5 million, compared to $26.3 million.\n\n\nNon-GAAP adjusted net income attributable to common stockholders increased to $24.8 million, or $0.49 per diluted share, compared to $18.6 million or $0.37 per diluted share.\n\n\nBalance Sheet and Cash Flow\n\n\nTotal cash and cash equivalents increased to $247.2 million as of September 30, 2020, compared to $119.6 million as of December 31, 2019.\n\n\nFor the quarter ended September 30, 2020, cash flows fro...