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TYSONS, Va. - Alarm.com Holdings , Inc. (NASDAQ:ALRM) reported fourth quarter earnings and revenue that exceeded analyst expectations, while also providing an optimistic forecast for fiscal year 2025.
The smart home security and automation company posted adjusted earnings per share of $0.58 for Q4, surpassing the analyst consensus of $0.53. Revenue came in at $242.2 million, above estimates of $237.45 million and up 7.1% YoY.
"I want to thank our team and our service provider partners for their help in delivering another quarter and year of solid financial performance," said Steve Trundle, CEO of Alarm.com.
For the full year 2024, Alarm.com’s SaaS and license revenue increased 10.9% to $631.2 million. Total (EPA:TTEF) revenue rose 6.6% to $939.8 million.
Looking ahead, the company provided an upbeat outlook for fiscal 2025. Alarm.com expects full-year EPS of $2.28-$2.29, above the $2.27 consensus. Revenue is projected to be $978.2-980.8 million, compared to analyst estimates of $978 million.
The company highlighted its product innovation efforts in 2024, including new AI-based video analytics capabilities. Alarm.com also expanded its presence in the remote video monitoring market through organic R&D and strategic acquisitions.
Alarm.com ended the year with a strong balance sheet, reporting $1.22 billion in cash and cash equivalents as of December 31, 2024.
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