Home Article Alarm.com reports SaaS, license and total revenue increases for 4Q, 2020

Alarm.com reports SaaS, license and total revenue increases for 4Q, 2020

Alarm.com reports SaaS, license and total revenue increases for 4Q, 2020

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By SSN Staff

Updated 10:41 PM CST, Sat March 6, 2021

TYSONS, Va.—Alarm.com reported financial results for its fourth quarter and full year ending Dec. 31, 2020, showing strong increases in SaaS, license and total revenue for 4Q and the full fiscal year 2020.

Alarm.com also provided its financial outlook for SaaS and license revenue for the first quarter of 2021 and guidance for the full year 2021.

“We are pleased to report solid results for the quarter and the year,” President and CEO Alarm.com Steve Trundle said in the announcement. “Our service provider partners and the Alarm.com team continued to perform at high levels despite the ongoing pandemic. During the year we delivered a breadth of innovative new platform capabilities for both our residential and commercial services, including the Smart Water Valve + Meter, Connected Car, Flex IO, the Alarm.com Touchless Video Doorbell and OpenEye’s SaaS application for commercial customers, which will help our service provider partners extend their leadership positions in multiple markets.”

Fourth Quarter 2020 Financial Results as Compared to Fourth Quarter 2019

  • SaaS and license revenue increased 17% to $105.5 million, compared to $90.1 million.
  • Total revenue increased 18% to $165.6 million, compared to $140.5 million.
  • GAAP net income attributable to common stockholders increased to $16.0 million, or $0.31 per diluted share, compared to $13.0 million or $0.26 per diluted share.
  • Non-GAAP adjusted EBITDA increased to $32.4 million, compared to $30.0 million.
  • Non-GAAP adjusted net income attributable to common stockholders increased to $23.1 million, or $0.45 per diluted share, compared to $21.5 million, or $0.43 per diluted share.

Full Year 2020 Financial Results as Compared to Full Year 2019

  • SaaS and license revenue increased 17% to $393.3 million, compared to $337.4 million.
  • Total revenue increased 23% to $618.0 million, compared to $502.4 million.
  • GAAP net income attributable to common stockholders increased to $77.9 million, or $1.53 per diluted share, compared to $53.5 million or $1.06 per diluted share.
  • Non-GAAP adjusted EBITDA increased to $125.3 million, compared to $108.3 million.
  • Non-GAAP adjusted net income attributable to common stockholders increased to $89.4 million, or $1.75 per diluted share, compared to $77.2 million, or $1.54 per diluted share.

For the first quarter of 2021, Alarm.com said SaaS and license revenue is expected to be in the range of $104.8 million to $105.0 million. For the full year 2021, SaaS and license revenue is expected to be in the range of $440.5 million to $441.5 million. Total revenue is expected to be in the range of $660.5 million to $671.5 million, which includes anticipated hardware and other revenue in the range of $220.0 million to $230.0 million.

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