$ALRM
Alarm.com Holdings, Inc.

2023 Q3 Form 10-Q Financial Statement

#000145920023000023 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $221.9M $223.9M $212.8M
YoY Change 2.64% 5.18% 12.7%
Cost Of Revenue $81.41M $86.37M $87.34M
YoY Change -4.89% -1.11% 12.89%
Gross Profit $140.4M $137.5M $125.5M
YoY Change 7.58% 9.56% 12.57%
Gross Profit Margin 63.31% 61.42% 58.97%
Selling, General & Admin $55.32M $52.57M $52.24M
YoY Change 8.32% 0.63% 19.28%
% of Gross Profit 39.39% 38.23% 41.62%
Research & Development $61.01M $60.92M $54.16M
YoY Change 9.77% 12.49% 24.52%
% of Gross Profit 43.44% 44.3% 43.15%
Depreciation & Amortization $8.400M $8.181M $8.123M
YoY Change 6.02% 0.71% 4.61%
% of Gross Profit 5.98% 5.95% 6.47%
Operating Expenses $124.3M $121.3M $114.2M
YoY Change 8.79% 6.29% 20.48%
Operating Profit $16.17M $16.16M $11.34M
YoY Change -0.89% 42.55% -32.22%
Interest Expense $7.600M $6.590M $231.0K
YoY Change 259.17% 2752.81% -105.77%
% of Operating Profit 47.0% 40.78% 2.04%
Other Income/Expense, Net -$435.0K -$631.0K $105.0K
YoY Change 472.37% -700.95% 228.13%
Pretax Income $23.32M $22.12M $11.67M
YoY Change 27.06% 89.5% -8.47%
Income Tax $4.000M $6.500M $844.0K
% Of Pretax Income 17.15% 29.39% 7.23%
Net Earnings $19.35M $15.61M $10.84M
YoY Change 5.56% 43.99% -26.47%
Net Earnings / Revenue 8.72% 6.97% 5.09%
Basic Earnings Per Share $0.39 $0.32 $0.22
Diluted Earnings Per Share $0.37 $0.30 $198.0K
COMMON SHARES
Basic Shares Outstanding 49.91M shares 49.84M shares 50.09M shares
Diluted Shares Outstanding 54.78M shares 54.45M shares 54.76M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $680.0M $627.0M $643.4M
YoY Change 9.44% -2.54% -2.91%
Cash & Equivalents $680.0M $627.0M $643.4M
Short-Term Investments
Other Short-Term Assets $26.69M $29.75M $26.04M
YoY Change -2.96% 14.25% 13.77%
Inventory $114.2M $117.8M $108.3M
Prepaid Expenses
Receivables $110.3M $123.3M $108.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $931.2M $897.8M $886.0M
YoY Change 5.82% 1.34% 5.75%
LONG-TERM ASSETS
Property, Plant & Equipment $55.86M $56.83M $92.53M
YoY Change -6.09% -38.58% 108.02%
Goodwill $153.8M $154.0M
YoY Change 2.02%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.48M $36.87M $81.85M
YoY Change 6.81% -54.95% 237.52%
Total Long-Term Assets $480.3M $484.9M $369.5M
YoY Change 11.76% 31.21% 15.85%
TOTAL ASSETS
Total Short-Term Assets $931.2M $897.8M $886.0M
Total Long-Term Assets $480.3M $484.9M $369.5M
Total Assets $1.411B $1.383B $1.256B
YoY Change 7.77% 10.13% 8.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.81M $57.49M $64.18M
YoY Change 6.69% -10.42% 27.71%
Accrued Expenses $18.34M $16.90M $48.29M
YoY Change 8.54% -64.99% 270.75%
Deferred Revenue $10.34M $9.671M
YoY Change 31.18%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $171.9M $165.9M $141.4M
YoY Change 13.75% 17.36% 35.81%
LONG-TERM LIABILITIES
Long-Term Debt $492.7M $491.9M $488.8M
YoY Change 0.64% 0.64% 17.24%
Other Long-Term Liabilities $13.07M $15.51M $47.94M
YoY Change 12.52% -67.65% 460.71%
Total Long-Term Liabilities $13.07M $15.51M $536.7M
YoY Change 12.52% -97.11% 6177.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $171.9M $165.9M $141.4M
Total Long-Term Liabilities $13.07M $15.51M $536.7M
Total Liabilities $713.5M $710.6M $694.3M
YoY Change 2.96% 2.36% 21.38%
SHAREHOLDERS EQUITY
Retained Earnings $234.9M $215.4M
YoY Change 40.6%
Common Stock $517.0K $515.0K
YoY Change 1.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $667.7M $644.2M $561.3M
YoY Change
Total Liabilities & Shareholders Equity $1.411B $1.383B $1.256B
YoY Change 7.77% 10.13% 8.54%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $19.35M $15.61M $10.84M
YoY Change 5.56% 43.99% -26.47%
Depreciation, Depletion And Amortization $8.400M $8.181M $8.123M
YoY Change 6.02% 0.71% 4.61%
Cash From Operating Activities $62.80M $36.79M $26.22M
YoY Change 515.87% 40.31% 8.76%
INVESTING ACTIVITIES
Capital Expenditures $2.200M $6.663M -$24.13M
YoY Change -223.46% -127.61% 635.48%
Acquisitions
YoY Change
Other Investing Activities $0.00 $15.00K -$2.844M
YoY Change -100.0% -100.53% -56980.0%
Cash From Investing Activities -$2.100M -$6.648M -$26.97M
YoY Change -93.73% -75.35% 723.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.100M -8.931M -27.58M
YoY Change -621.68% -67.62% 13098.56%
NET CHANGE
Cash From Operating Activities 62.80M 36.79M 26.22M
Cash From Investing Activities -2.100M -6.648M -26.97M
Cash From Financing Activities -7.100M -8.931M -27.58M
Net Change In Cash 53.60M 21.21M -28.34M
YoY Change -344.34% -174.84% -237.42%
FREE CASH FLOW
Cash From Operating Activities $62.80M $36.79M $26.22M
Capital Expenditures $2.200M $6.663M -$24.13M
Free Cash Flow $60.60M $30.13M $50.35M
YoY Change 405.89% -40.17% 83.83%

Facts In Submission

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Organization<span style="color:#212121;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Alarm.com Holdings, Inc. (referred to herein as Alarm.com, the Company, or we) is the leading platform for the intelligently connected property. Our cloud-based platform offers an expansive suite of Internet of Things, or IoT, solutions </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">addressing opportunities in the residential, multi-family, small business and enterprise commercial markets. Alarm.com’s 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.</span><span style="color:#212121;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our solutions are delivered through an established network of trusted service provider partners, who are experts at selling, installing and supporting our solutions. </span><span style="color:#212121;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The number of our service provider partners exceeded 11,000 as of December 31, 2022.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> We derive revenue from the sale of our cloud-based Software-as-a-Service, or SaaS, services, license fees, software, hardware, activation fees and other revenue. Our fiscal year ends on December 31.</span>
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<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. As of the date of issuance of these financial statements, we are not aware of any specific event or circumstance that would require us to update our estimates, assumptions and judgments or revise the carrying value of our assets or liabilities. However, our estimates, judgments and assumptions are continually evaluated based on available information and experience and may change as new events occur and additional information is obtained. Because of the use of estimates inherent in the financial reporting process and in light of the continuing uncertainty arising from the Macroeconomic Conditions, actual results could differ from those estimates and any such differences may be material. Estimates are used when accounting for revenue recognition, allowances for credit losses, allowance for hardware returns, estimates of obsolete inventory, long-term incentive compensation, the lease term and incremental borrowing rates for leases, stock-based compensation, income taxes, legal reserves and goodwill, intangible assets and other long-lived assets.</span></div>
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0001459200-23-000023.txt Edgar Link pending
0001459200-23-000023-xbrl.zip Edgar Link pending
alrm-20230630.htm Edgar Link pending
alrm-20230630.xsd Edgar Link pending
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