Alarm.Com Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 22, 2024 at 04:05 pm EST
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Alarm.com Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 226.24 million compared to USD 208.14 million a year ago. Net income was USD 31.3 million compared to USD 18.09 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.36 a year ago. Diluted earnings per share from continuing operations was USD 0.58 compared to USD 0.34 a year ago.
For the full year, the company reported revenue was USD 881.68 million compared to USD 842.56 million a year ago. Net income was USD 81.04 million compared to USD 56.34 million a year ago. Basic earnings per share from continuing operations was USD 1.63 compared to USD 1.13 a year ago. Diluted earnings per share from continuing operations was USD 1.53 compared to USD 1.07 a year ago.
Alarm.com Holdings, Inc. is focused on providing a platform for the intelligently connected property. The Companyâs cloud-based platform offers Internet of Things (IoT) solutions across residential, multi-family, small business and enterprise commercial markets. The Company operates through two segments Alarm.com and Other. The Alarm.com segment represents its cloud-based and Software platforms for the intelligently connected property and related solutions. The Other segment is focused on researching, developing and offering residential and commercial automation solutions and energy management products and services in adjacent markets. The Companyâs platform integrates with a range of Internet of things devices through its apps and interfaces. Its 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.