Alarm.com Holdings (ALRM) FY2024 results: revenue $940 million, up 6.6% on the year

Alarm.com Holdings, Inc. (ALRM) reported revenue of $940 million for fiscal 2024, the year ended 31 December 2024, up 6.6% on the year before. Net income was $124 million, up 53.1%, and diluted earnings per share $2.29. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.

Revenue

$940 million

+6.6% on the year

FY2017FY2024

Operating margin

11.5%

7.6% a year earlier

FY2017FY2024

Net income

$124 million

+53.1% on the year

FY2017FY2024

Diluted EPS

$2.29

+49.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	940	882	843	+6.6%
Cost of revenue	326	325	343	+0.3%
Gross profit	614	557	500	+10.3%
Gross margin	65.3%	63.1%	59.3%
Research and development	256	245	219	+4.4%
Operating income	109	66.8	51.0	+62.4%
Operating margin	11.5%	7.6%	6.1%
Interest expense	11.4	3.4	3.1	+233.2%
Pre-tax income	142	97.8	56.6	+45.0%
Income tax	19.3	17.5	1.0	+10.3%
Effective tax rate	13.6%	17.9%	1.7%
Net income	124	81.0	56.3	+53.1%
Net margin	13.2%	9.2%	6.7%
Diluted EPS	$2.29	$1.53	$1.07	+49.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	206	136	56.9	+51.8%
Capital expenditure	10.1	7.5	28.6	+34.8%
Free cash flow	196	128	28.3	+52.8%
Free cash flow margin	20.9%	14.6%	3.4%
Cash from investing	-24.7	-26.0	-68.3
Cash from financing	346	-31.9	-76.3
Depreciation and amortisation	29.1	31.4	30.9	-7.3%
Share-based compensation	41.2	47.3	52.7	-12.8%
Buybacks	75.0	27.3	78.8	+174.7%
Diluted shares, weighted	58m	55m	55m	+6.2%
Shares outstanding at period end	50m	50m	49m	-0.5%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	727	689	599	+5.5%
Redeemable equity	44.7	36.3	24.0	+23.2%
Debt	983	494	490	+99.3%
Operating lease liabilities	65.5	20.5	27.4	+220.2%
Other liabilities	218	201	189	+8.6%
Total liabilities and equity	2,038	1,440	1,329	+41.6%
Fixed assets	63.2	54.2	57.2	+16.7%
Goodwill	154	154	148	-0.2%
Intangible assets	63.2	78.6	82.5	-19.6%
Investments	17.2	n/a	n/a
Cash and equivalents	1,221	697	622	+75.1%
Receivables	126	131	124	-3.5%
Inventory	87.4	96.1	116	-9.1%
Other assets	306	229	180	+34.0%
Total assets	2,038	1,440	1,329	+41.6%

10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.