Alarm.com Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Alarm.com Holdings, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Alarm.com Holdings, Inc. (ALRM) filed a Annual Report (10-K) with the SEC on February 22, 2024. Alarm.com Holdings, Inc. filed its 2023 Form 10-K on February 22, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 8281 Greensboro Drive, Suite 100, Tysons, VA 22102. The company's phone number is 877-389-4033. Alarm.com Holdings, Inc. is classified under SIC code 7372 (Services-Prepackaged Software).

Why It Matters

For investors and stakeholders tracking Alarm.com Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Alarm.com's financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand the company's revenue streams, profitability, and balance sheet health, enabling informed investment decisions.

Risk Assessment

Risk Level: — Alarm.com Holdings, Inc. shows moderate risk based on this filing. The company's business is subject to risks associated with the competitive landscape and technological changes in the smart home and security industry, as detailed in the 10-K filing.

Analyst Insight

Investors should review the detailed risk factors and financial performance sections of the 10-K to understand potential challenges and opportunities for Alarm.com Holdings, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting Period)
• 2024-02-22 — Filing Date (Date Filed)
• 7372 — SIC Code (Industry Classification)

Key Players & Entities

• Alarm.com Holdings, Inc. (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 2024-02-22 (date) — Filing Date
• 8281 Greensboro Drive, Suite 100, Tysons, VA 22102 (address) — Business Address
• 7372 (sic_code) — Standard Industrial Classification

FAQ

Industry Context

Alarm.com Holdings, Inc. operates in the software and services sector, specifically focusing on prepackaged software solutions for the security and smart home industry.

Regulatory Implications

The filing is a standard Form 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the risk factors section to understand potential business challenges.
3. Compare the 2023 performance metrics with previous years to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date Alarm.com Holdings, Inc. filed its 10-K.

Year-Over-Year Comparison

This is the initial extraction of the 2023 10-K filing; comparison with prior filings will require additional data.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share ALRM The Nasdaq Sto
• $51.68 — .5 billion, based on a closing price of $51.68 per share of the registrant's common st
• $881.7 m — in 2000. We generated total revenue of $881.7 million, $842.6 million and $749.0 millio
• $842.6 million — erated total revenue of $881.7 million, $842.6 million and $749.0 million in 2023, 2022 and 20
• $749.0 million — e of $881.7 million, $842.6 million and $749.0 million in 2023, 2022 and 2021, respectively. O
• $569.2 m — ively. Our SaaS and license revenue was $569.2 million, $520.4 million and $460.4 millio
• $520.4 million — and license revenue was $569.2 million, $520.4 million and $460.4 million in 2023, 2022 and 20
• $460.4 million — was $569.2 million, $520.4 million and $460.4 million in 2023, 2022 and 2021, respectively, r
• $81.0 m — attributable to common stockholders of $81.0 million, $56.3 million and $52.3 million
• $56.3 million — o common stockholders of $81.0 million, $56.3 million and $52.3 million in 2023, 2022 and 202
• $52.3 million — ers of $81.0 million, $56.3 million and $52.3 million in 2023, 2022 and 2021, respectively, a
• $154.0 m — as well as non-GAAP adjusted EBITDA of $154.0 million, $146.8 million and $142.5 millio
• $146.8 million — GAAP adjusted EBITDA of $154.0 million, $146.8 million and $142.5 million in 2023, 2022 and 20
• $142.5 million — A of $154.0 million, $146.8 million and $142.5 million in 2023, 2022 and 2021, respectively. S

Filing Documents

• alrm-20231231.htm (10-K) — 2655KB
• ex211subsidiarylist123123.htm (EX-21.1) — 14KB
• ex231consent123123.htm (EX-23.1) — 2KB
• ex311certification123123.htm (EX-31.1) — 9KB
• ex312certification123123.htm (EX-31.2) — 9KB
• ex321certification123123.htm (EX-32.1) — 8KB
• ex971alarmcomclawbackpolicy.htm (EX-97.1) — 37KB
• alrm-20231231_g1.jpg (GRAPHIC) — 29KB
• alrm-20231231_g2.jpg (GRAPHIC) — 105KB
• 0001459200-24-000008.txt (&nbsp;) — 14763KB
• alrm-20231231.xsd (EX-101.SCH) — 94KB
• alrm-20231231_cal.xml (EX-101.CAL) — 133KB
• alrm-20231231_def.xml (EX-101.DEF) — 563KB
• alrm-20231231_lab.xml (EX-101.LAB) — 1262KB
• alrm-20231231_pre.xml (EX-101.PRE) — 928KB
• alrm-20231231_htm.xml (XML) — 2047KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 21 Item 1B. Unresolved Staff Comments 50 I tem 1C . C ybersec urity 51 Item 2.

Properties

Properties 52 Item 3.

Legal Proceedings

Legal Proceedings 52 Item 4. Mine Safety Disclosures 53 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 54 Item 6. [Reserved] 56 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 56 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 76 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 77 Report of Independent Registered Public Accounting Firm 78 Consolidated Statements of Operations 80 Consolidated Statements of C omprehensive Income 81 Consolidated Balance Sheets 82 Consolidated Statements of Cash Flows 83 Consolidated Statements of Equity 85 Notes to the Consolidated Financial Statements 86 Schedule II. Valuation and Qualifying Accounts 124 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 125 Item 9A.

Controls and Procedures

Controls and Procedures 125 Item 9B. Other Information 126 Item 9C . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 126 PART III. Item 10. Directors, Executive Officers and Corporate Governance 127 Item 11.

Executive Compensation

Executive Compensation 127 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127 Item 13. Certain Relationships and Related Transactions , and Director Independence 127 Item 14. Principal Accountant Fees and Services 127 PART IV. Item 15. Exhibit and Financial Statement Schedules 128 Item 16. Form 10-K Summary 130

Signatures

Signatures 131 1 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, or this Annual Report, contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that reflect our current expectations regarding future events, our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management. The forward-looking statements are contained principally in Part I, Item 1. "Business," Part I, Item 1A. "Risk Factors," and Part II, Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations," but are also contained elsewhere in this Annual Report. Forward-looking statements include any statement that does not directly relate to a current or historical fact. In some cases, you can identify forward-looking statements by the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "objective," "ongoing," "plan," "predict," "project," "potential," "should," "will," "would," or the negative or plural of these words or other comparable terminology intended to identify statements about the future. The events described in these forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Annual Report, we caution you that these statements are based on a combination of facts and factors currently known to us and our expectations of the future, about which we cannot be certain. Forward-looking statements include statements about: the ant

BUSINESS

ITEM 1. BUSINESS Overview Alarm.com is the leading platform for the intelligently connected property. Our cloud-based platform offers an expansive suite of Internet of Things, or IoT, solutions addressing opportunities in the residential, multi-family, small business and enterprise commercial markets. Alarm.com's solutions include security, video and video analytics, energy management, access control, electric utility grid management, indoor gunshot detection, water management, health and wellness and data-rich emergency response. During 2023, our platforms processed more than 325 billion data points generated by over 150 million connected devices. We believe this scale of subscribers, connected devices and data operations makes us the leader in the connected property market. Our solutions are delivered through an established network of trusted service providers, who are experts at selling, installing and supporting our solutions. We primarily generate SaaS and license revenue through our service provider partners, who resell these services and pay us monthly fees. These service provider contracts typically have an initial term of one year, with subsequent renewal terms of one year. Our service provider partners have indicated that they typically have three to five-year service contracts with residential and commercial property owners who use our solutions. We also generate hardware and other revenue, primarily from our service provider partners and distributors. Our hardware sales include connected devices that enable our services, such as video cameras, video recorders, gunshot detection sensors, gateway modules and smart thermostats. We believe our network of service providers and the length of our service relationships with residential and commercial property owners, combined with our robust SaaS platforms and over 20 years of operating experience, contribute to a compelling business model. We have experienced significant growth since our company's incep

View Full Filing

View this 10-K filing on SEC EDGAR