Alarm.com Q3 SaaS rev +9.8% to $159.3M; GAAP net income +87.9% to $36.7M; raises FY2024 guidance

Alarm.com Holdings, Inc.

2024-Q3 EPS reported $1.73 revenue$697,587,000

SaaS & license revenue $159.3M (+9.8% YoY); total revenue $240.5M (+8.4% YoY).
GAAP net income $36.7M ($0.67 diluted) vs $19.5M ($0.37) a year ago; adjusted EBITDA $50.0M (+20.6%).
Cash and equivalents $1.17B; YTD operating cash flow $150.2M; free cash flow $142.3M.
Q4 SaaS rev guided $163.2-163.4M; FY2024 total rev $933.7-935.9M, adj. EBITDA $174-176M.
New products: OpenEye Cloud Cameras, Gen-AI deterrence, Smart Thermostat HQ with cellular hub.

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