Alarm.Com Reports SaaSand License Revenue Increased 19% in Q4
TYSONS, Va. — Alarm.Com pronounced fourth-area non-GAAP adjusted net income expanded to $14.Five million, or 29 cents in keeping with diluted proportion, compared to $thirteen million or 26 cents in keeping with the diluted percentage at some stage in the same period the previous 12 months.
The corporation said SaaS and license sales for the duration of the area improved 19% from the comparable period the prior yr to $77.8 million. This included Connect software license sales of approximately $10.7 million for the fourth zone vs. $9.6 million for Q4 2017.
For the full 12 months of 2018, SaaS and license revenue grew 23% from the previous year to $291.1 million. (Note: 2017 represents a partial 12 months for Connect software program license sales from the closing of Alarm.Com’s acquisition of the Connect enterprise unit of control.)
During an earnings call Thursday, Alarm.Com President and CEO Steve Trundle stated the fourth-zone results “had been above our expectancies.” “We noticed little growth in our core residential and commercial security enterprise and in other markets as suggested by our other section corporations. However, we agree that our development in 2018 successfully prolonged our leadership inside the linked property space,” he said.
Trundle said the enterprise has greater than 8,000 legal sellers that service Alarm.Com generation in extra than 6.1 million residences globally, with more than 90 million connected gadgets and sensors enabled using the organization’s Cloud offerings. Hardware and different revenue within the fourth quarter changed into $33.6 million, a forty-two % increase over Q4 2017. The business enterprise attributed the increase in hardware revenue mostly to growth in safety digicam income.
“We retain to see the high income of our video cameras, with approximately 1 in 4 installs going to our current installed base of subscribers and the remainder going to new subscribers,” CFO Steve Valenzuela said during the income call. Total sales for the area increased 25% or-over-12 months to $111.4 million instead of the consensus estimate of $99.Fifty-seven million. For all of 2018, total sales grew 24% to $420.Five million.
For the primary region of 2019, Alarm.Com expects to earn SaaS and license revenue of $78.Five million to $ seventy-eight.Eight million; and for the whole yr, between $328 million to $332 million. The business enterprise projects overall revenue for 2019 of $440 million to $450 million, which incorporates anticipated hardware and other sales of $112 million to $118 million.
Non-GAAP adjusted EBITDA for 2019 is expected to be between $a hundred and one million to $103 million. Non-GAAP internet income for 2019 is projected to be $69 million to $71 million, or $1.37 to $1.Forty-one consistent with diluted share. In a press launch, the company announced the following current business highlights:
Won Security Product of the Year Award at CES: Alarm.Com’s Smart Signal gained the Mark of Excellence Award from the Consumer Technology Association for Security Product of the Year. Smart Signal complements the value of professionally monitored security and reduces the price and support loads on relevant stations and primary responders. From the Alarm.Com mobile app, subscribers can verify an alarm to expedite an emergency response, cancel a false alarm or cause a panic alert to their property.
Alarm.Com Academy Recognized as Best Education and Support Program: The Consumer Technology Association recognized the Alarm.Com Academy with an award for Best Education and Support Program for its improved curriculum and new studying packages. The Academy’s comprehensive and customizable schooling program enables provider vendors to leverage the overall breadth of the Alarm.Com platform to be able to deliver a complete solution and global elegance service to clients. New gaining knowledge of packages released this yr encompass stay schooling webinars, consultative fashion workshops, and an extended eLearning platform with simulated aid scenarios. The award reinforces Alarm.Com’s strong popularity of presenting terrific support to its carrier company partners, focusing on purchaser satisfaction.
Announced Preferred Relationship with D.R. Horton: Alarm.Com’s complete-domestic automation and manage answers will now power every new domestic built with the aid of D.R. Horton, America’s biggest homebuilder by using extent with greater than fifty thousand new houses closed in 2018. D.R. Horton’s new Home is Connected smart home device integrates bright locks, lights, thermostats, voice manipulate, and doorbell cameras to offer a unified interface for whole-home control and consciousness. AIn addition, larm.Com’s builder application permits home developers to rapidly installation a full smart domestic answer. Home developers can also reduce execution risks and fees by using leveraging Alarm.Com’s national community of carrier issuer partners for hardware set up and long-term help after the sale.
Deployed Facial Recognition Technology to Enhance Property Security: Alarm.Com deployed facial recognition generation to beautify unexpected interest alerts by permitting positive protection panels with built-in cameras to proactively reveal unauthorized sharing or robbery of an authorized person’s security gadget codes. BIn addition, by analyzing pictures taken when the security panel is disarmed, the device can partner a particular person with a specific person code. If an exceptional person uses that identical code, Alarm.Com can ship an alert to the house or commercial enterprise proprietor, supplying an added layer of safety, cognizance, and control.
Introduced New Products for Independent Living: Alarm.Com launched Wellness Insights and William to offer providers new possibilities to cope with an emerging marketplace need for independent residing solutions. Wellness Insights, a CES Innovation Award Honoree, applies predictive analytics to records generated by way of a set of sensors inside the home to locate subtle changes that could imply rising health or the different fine of existence difficulty. William is a 180-degree field of view video digital camera that extends current Alarm.Com services to the home of a cherished one. Caregivers and family can check-in and talk thru a stay two-manner audio and wide-perspective video experience.