Alarm.com Shares Hit $US32.40 After Q1 Sales Beat Estimates
ALARM.COM shares hit a high of $US32.40 after the company announced revenue of $74.2 million in Q1, beating estimates.
The strong result followed revenue of $69.8 million in Q4, which also beat analyst forecasts. Earlier this year, Alarm.com acquired video analytics specialist ObjectVideo and competitor Icontrol.
The solid showing in sales underlines the veracity of alarm monitoring in the cloud, with management of security and automation by mobile app. ♦