Alarm.com Holdings, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Alarm.com Holdings, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance in the software services sector.</b>

AI Summary

Alarm.com Holdings, Inc. (ALRM) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Alarm.com Holdings, Inc. reported financial results for the quarter ended March 31, 2024. The filing is a 10-Q, indicating a quarterly report. The company's principal business is in Services-Prepackaged Software (SIC 7372). The report covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking Alarm.com Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with up-to-date financial information, allowing for timely analysis of Alarm.com's performance and strategic direction. Understanding the company's revenue streams and financial health as detailed in this report is crucial for assessing its current market position and future growth prospects.

Risk Assessment

Risk Level: low — Alarm.com Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments, indicating a low level of immediate risk.

Analyst Insight

Monitor future filings for detailed financial performance metrics, including revenue growth and profitability, to assess the company's ongoing operational success.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Reporting Period End Date (Quarterly report)
• 2024-05-10 — Filing Date (10-Q filing)
• 7372 — SIC Code (Services-Prepackaged Software)

Key Players & Entities

• Alarm.com Holdings, Inc. (company) — Filer name
• ALRM (company) — Ticker symbol
• 2024-03-31 (date) — Reporting period end date
• 2024-05-10 (date) — Filing date
• 7372 (industry_code) — Standard Industrial Classification code for Services-Prepackaged Software

FAQ

Industry Context

Alarm.com Holdings, Inc. operates within the software services industry, specifically focusing on prepackaged software solutions.

Regulatory Implications

As a publicly traded company, Alarm.com Holdings, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze revenue breakdown by segment (License and Service, Hardware and Other) for Q1 2024.
3. Compare Q1 2024 performance against Q1 2023 to identify year-over-year trends.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the quarter ending March 31, 2024. Specific comparative financial data from the previous filing (likely a 10-K or prior 10-Q) is not directly extractable from this header information.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share ALRM The Nasdaq Sto

Filing Documents

• alrm-20240331.htm (10-Q) — 1512KB
• ex311certification33124.htm (EX-31.1) — 9KB
• ex312certification33124.htm (EX-31.2) — 9KB
• ex321certification33124.htm (EX-32.1) — 8KB
• alrm-20240331_g1.jpg (GRAPHIC) — 29KB
• 0001459200-24-000016.txt (&nbsp;) — 8040KB
• alrm-20240331.xsd (EX-101.SCH) — 56KB
• alrm-20240331_cal.xml (EX-101.CAL) — 81KB
• alrm-20240331_def.xml (EX-101.DEF) — 299KB
• alrm-20240331_lab.xml (EX-101.LAB) — 700KB
• alrm-20240331_pre.xml (EX-101.PRE) — 521KB
• alrm-20240331_htm.xml (XML) — 1053KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 2

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 2 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Equity 6 Notes to the Condensed Consolidated Financial Statements 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 38

Controls and Procedures

Item 4. Controls and Procedures 38

OTHER INFORMATION

PART II. OTHER INFORMATION 40

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 70

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 70

Other Information

Item 5. Other Information 70

Exhibits

Item 6. Exhibits 71 Signature 72 1

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS (unaudited)

Item 1. FINANCIAL STATEMENTS (unaudited) ALARM.COM HOLDINGS, INC. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited) Three Months Ended March 31, 2024 2023 Revenue: SaaS and license revenue $ 150,344 $ 135,394 Hardware and other revenue 72,939 74,322 Total revenue 223,283 209,716 Cost of revenue (1) : Cost of SaaS and license revenue 20,428 19,583 Cost of hardware and other revenue 56,087 56,589 Total cost of revenue 76,515 76,172 Operating expenses: Sales and marketing 25,454 26,645 General and administrative 29,296 28,499 Research and development 65,956 61,908 Amortization and depreciation 7,337 7,673 Total operating expenses 128,043 124,725 Operating income 18,725 8,819 Interest expense ( 796 ) ( 868 ) Interest income 8,540 5,182 Other expense, net ( 318 ) ( 148 ) Income before income taxes 26,151 12,985 Provision for / (benefit from) income taxes 2,747 ( 1,222 ) Net income 23,404 14,207 Net loss attributable to redeemable noncontrolling interests 191 209 Net income attributable to common stockholders $ 23,595 $ 14,416 Per share information attributable to common stockholders: Net income per share: Basic $ 0.47 $ 0.29 Diluted $ 0.44 $ 0.28 Weighted average common shares outstanding: Basic 49,963,265 49,584,890 Diluted 55,047,087 54,296,321 _______________ (1) Exclusive of amortization and depreciation shown in operating expenses below. See accompanying notes to the condensed consolidated financial statements. 2 ALARM.COM HOLDINGS, INC. Condensed Consolidated Statements of Comprehensive Income (in thousands) (unaudited) Three Months Ended March 31, 2024 2023 Net income $ 23,404 $ 14,207 Other comprehensive (loss) / income Foreign currency translation adjustment ( 147 ) 170 Total other comprehensive (loss) / income ( 147 ) 170 Comprehensive income 23,257 14,377 Comprehensive loss attributable to redeemable noncontrolling interests 191 209 Comprehen

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View this 10-Q filing on SEC EDGAR