Alarm.com Holdings, Inc. (NASDAQ:ALRM) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET
Company Participants
Matthew Zartman - Vice President of Investor Relations
Stephen Trundle - Chief Executive Officer
Steve Valenzuela - Chief Financial Officer
Conference Call Participants
Matthew Bullock - Bank of America Merrill Lynch
Saket Kalia - Barclays Bank PLC
Jake Norrison - Raymond James & Associates, Inc.
Matthew Pfau - William Blair & Company
Darren Aftahi - ROTH MKM
Jack Codera - Maxim Group, LLC
Operator
Good day and thank you for standing by. Welcome to the Alarm.com Q2 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to your speaker today, Matt Zartman. Please go ahead.
Matthew Zartman
Good afternoon, everyone, and welcome to Alarm.com’s second quarter 2023 earnings conference call. Please note that this call is being recorded. Joining us today from Alarm.com are Steve Trundle, our CEO; and Steve Valenzuela, our CFO.
During today’s call, we will be making forward-looking statements, which are predictions, projections, estimates or other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. We refer you to the risk factors discussed in our quarterly report on Form 10-Q and Form 8-K, which will be filed shortly after this call with the SEC, along with the associated press release. This call is subject to these risk factors, and we encourage you to review these risk factors. Alarm.com assumes no obligation to update any forward-looking statements or information, which speaks as of their respective dates.
In addition, several non-GAAP financial measures will be discussed on the call. A reconciliation of the GAAP and non-GAAP measures can be found in today’s press release on our Investor Relations website.
I will now turn the call over to Steve Trundle. You may begin.
Stephen Trundle
Thank you, Matt. Good afternoon and welcome to everyone. We are pleased to report that our second quarter results exceeded our expectations. SaaS and license revenue in the second quarter was $140.4 million, resulting in a non-GAAP growth rate of 13.3% over last year, excluding Vivint. Our adjusted EBITDA in the second quarter was $36.4 million.