Alarm.com Holdings, Inc. (NASDAQ: ALRM), a provider of security solutions, reported a strong second-quarter and raised its full-year forecast last week. In the US, Alarm.com has grown and is still in demand.
During the last quarter, ALRM stock generated revenue of $188.9 million, an increase of 33.3% year over year. Revenue from SaaS subscriptions grew 18.3% yoy to $113.2 million. The GAAP net income fell by 13.2% to $14.7 million. Cash and equivalents grew by more than double to $662.7 million. The company launched new solutions, including Ambient Insights, for responding to alarms.
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Alarm.com Holdings, Inc. (ALRM) offers a set of security solutions (smart cameras, cloud video storage, and so on.). The products are becoming increasingly popular with small and medium-sized businesses. As an example, the Alarm Response solution, using various sensors, monitors in real-time and recognizes dangerous situations, using artificial intelligence algorithms and, if needed, alerts the appropriate emergency services.
Traditional security companies often charge high prices for such services, but Alarm.com might offer a simpler and cheaper alternative. Furthermore, the company has acquired technology that can detect shot sounds and developed algorithms that reduce false alarms.
Alarm.com Holdings, Inc. (ALRM) projects total revenues of $707.3 million to $717.8 million in 2021. Non-GAAP adjusted profit is expected to range from $93 to $93.7 million during that year.
Alarm.com Holdings Inc.’s stock rose 0.43 percent on Tuesday, closing at $86.99. The stock fluctuated between $85.13 and $87.765 during the trading session. The profits per share ratio of the firm was 1.64. ALRM’s stock has risen 1.16 percent in the last five days and 0.58 percent in the last month, but is down -15.91 percent year to date.