Alarm.com Q2 SaaS revenue up 11%; GAAP net income doubles; raises FY24 guidance

Alarm.com Holdings, Inc.

2024-Q2 EPS reported $1.06 revenue$457,090,000

SaaS & license revenue $155.9M (+11% YoY); total revenue $233.8M (+4.4%).
GAAP net income $33.5M ($0.62 diluted EPS) vs $15.8M ($0.30) YoY, up 112%.
Non-GAAP adjusted EBITDA $42.8M (+17.8%); adjusted net income $32.0M ($0.58/share).
Issued $500M 2.25% convertible notes due 2029; repurchased 1.1M shares at $67.14.
Raised FY24 guidance: total revenue $920.8-931.2M, adj. EBITDA $165-167M, adj. EPS $2.06-2.07.

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