Stock Track | Alarm.com Soars on Robust Q3 Results, Raises Full-Year Outlook

Stock Track11-08

Alarm.com Holdings Inc. (ALRM) saw its shares surge by 14.63% in pre-market trading on Thursday, following the company's impressive third-quarter results and raised full-year guidance. The strong performance underscores Alarm.com's continued growth and solid execution, despite potential headwinds in the industry.

The company reported revenue of $240.5 million for the third quarter, an 8.4% increase year-over-year, driven by a 9.8% growth in SaaS and license revenue to $159.3 million. Alarm.com's revenue retention rate climbed to an impressive 95%, above its historical range, reflecting high customer satisfaction and loyalty.

Alarm.com's continued investment in innovation and product development also paid dividends, with the introduction of new capabilities in commercial and residential video offerings, including an AI deterrent feature. Additionally, the company's OpenEye business is nearing a significant milestone of 1 million active channels, solidifying its position as a leader in the enterprise security video management market.

Based on its strong performance, Alarm.com raised its full-year 2024 guidance, projecting SaaS and license revenue to range between $627 million and $629 million, and total revenue to be between $966 million and $970 million. These upward revisions reflect the company's confidence in its growth trajectory and profitability.

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(ALRM) saw its shares surge by 14.63% in pre-market trading on Thursday, following the company's impressive third-quarter results and raised full-year guidance. The strong ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ALRM","symbol_name":"Alarm.com Holdings, Inc.","start_time":0,"source_url":"","article_id":"1130842891","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1130842891","pubTimestamp":1731076255,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Alarm.com Holdings Inc.  saw its shares surge by 14.63% in pre-market trading on Thursday, following the company's impressive third-quarter results and raised full-year guidance. 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