Alarm.com Holdings, Inc. (NASDAQ:ALRM) Q1 2024 Earnings Conference Call May 9, 2024 4:30 PM ET

Company Participants

Matthew Zartman - Vice President of Strategic Communications & Investor Relations
Stephen Trundle - CEO
Steve Valenzuela - CFO

Conference Call Participants

Darren Aftahi - ROTH MKM
Saket Kalia - Barclays
Jack Vander Aarde - Maxim Group

Operator

Thank you for standing by. Welcome to Alarm.com's First Quarter 2024 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]. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Matthew Zartman, Vice President of Strategic Communications & Investor Relations. Please go ahead sir.

Matthew Zartman

Good afternoon, everyone, and welcome to Alarm.com's first quarter 2024 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 and 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 our 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 them. Alarm.com assumes no obligation to update forward-looking statements or information, which speak as of their respective dates. In addition, several non-GAAP financial measures will be discussed on the call. A reconciliation of the GAAP to the non-GAAP measures can be found in today's press release on our Investor Relations website.

I'll now turn the call over to Steve Trundle. Steve?

Stephen Trundle

Thank you, Matt. Good afternoon, and welcome to everyone. We are pleased to report first quarter results that exceeded our expectations. Our SaaS and license revenue in the first quarter was $150.3 million up 11% over last year. Our adjusted EBITDA for the quarter was $37 million. I want to thank our service provider partners and our employees for their contributions to our results.

On today's call, I'll share a few of my observations from our participation at ISC West, the largest Security Trade Conference in the U.S. And I'll also update you on some of our recently released product capabilities before turning things over to Steve Valenzuela. In April, Alarm.com had a strong presence at ISC West, which was attended by nearly 30,000 security trade professionals. The conference attracts a broad set of market participants from manufacturers and technology providers to a diverse range of North American and international service providers.