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Earnings Call Summary | Alarm.com(ALRM.US) Q1 2024 Earnings Conference

Futu News ·  May 11 00:55  · Conference Call

The following is a summary of the Alarm.com Holdings, Inc. (ALRM) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Alarm.com recorded Q1 2024 SaaS and license revenue of $150.3 million, representing an 11% YoY growth.

  • The total revenue for the first quarter stood at $223.3 million, marking a 6.5% growth year-over-year.

  • Despite reporting a slight decline in hardware and other revenues, Alarm.com's GAAP net income saw a significant increase from $14.4 million for Q1 2023 to $23.6 million in Q1 2024.

Business Progress:

  • Alarm.com continues to witness increasing interest in their commercial capabilities and introduced a new cloud-based solution, Connected Fleet.

  • By focusing on the gradual progression of its EnergyHub energy business and international business, Alarm.com is aiming to stimulate growth in diverse markets and customer bases.

More details: Alarm.com IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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