Alarm.com Holdings, Inc. (NASDAQ: ALRM) reported Q2 EPS of $0.41, $0.10 better than the analyst estimate of $0.31. Revenue for the quarter came in at $141.6 million versus the consensus estimate of $118.64 million.

Second Quarter 2020 Financial Results as Compared to Second Quarter 2019

• SaaS and license revenue increased 16.2% to $95.7 million, compared to $82.3 million.
• Total revenue increased 16.4% to $141.6 million, compared to $121.7 million.
• GAAP net income attributable to common stockholders was $17.0 million, or $0.34 per diluted share, compared to $13.8 million, or $0.27 per diluted share.
• Non-GAAP adjusted EBITDA increased to $29.2 million, compared to $27.7 million.
• Non-GAAP adjusted net income attributable to common stockholders increased to $20.6 million, or $0.41 per diluted share, compared to $19.9 million or $0.40 per diluted share.

“While we saw some modest disruption, Alarm.com’s service provider partners and our team continued to execute effectively in delivering innovative technology solutions to millions of properties through the ongoing COVID-19 pandemic,” said Steve Trundle, President and CEO of Alarm.com. “As a result, I’m pleased to report solid second quarter results. Our markets continued to show positive momentum, and we remain in a strong position to manage through the uncertainty caused by the pandemic.”

GUIDANCE:

Alarm.com Holdings, Inc. sees FY2020 EPS of $1.46-$1.47, versus the consensus of $1.40. Alarm.com Holdings, Inc. sees FY2020 revenue of $552.7-563.1 million, versus the consensus of $527.41 million.

At this time, it remains challenging to predict the full scope and duration of the impacts driven by the COVID-19 pandemic. While Alarm.com service provider partners are continuing to operate at various levels, some have experienced more difficult selling or installation conditions as a result of local social distancing guidelines or local market sentiments. While new installation rates continue to trend in a positive direction, Alarm.com cannot be sure that this trend will continue. Alarm.com is providing guidance for the third quarter of 2020 and increasing its guidance for the full year of 2020 based upon what it currently sees in its markets.

For the third quarter of 2020:

• SaaS and license revenue is expected to be in the range of $96.6 million to $96.8 million.

For the full year of 2020:

• SaaS and license revenue is expected to be in the range of $382.7 million to $383.1 million.
• Total revenue is expected to be in the range of $552.7 million to $563.1 million, which includes anticipated hardware and other revenue in the range of $170.0 million to $180.0 million.
• Non-GAAP adjusted EBITDA is expected to be in the range of $106.0 million to $107.0 million.
• Non-GAAP adjusted net income attributable to common stockholders is expected to be in the range of $74.2 million to $74.9 million, based on an estimated tax rate of 21.0%.
• Based on an expected 50.8 million weighted average diluted shares outstanding, non-GAAP adjusted net income attributable to common stockholders is expected to be $1.46 to $1.47 per diluted share.

For earnings history and earnings-related data on Alarm.com Holdings, Inc. (ALRM) click here.