Alarm.Com Holdings, Inc. (NASDAQ:ALRM) Q1 2018 Earnings Conference Call - Preliminary Transcript
May 03, 2018 • 04:30 pm ET
Good day, ladies and gentlemen, and welcome to the Alarm.com Q1 2018 Earnings Conference Call. At this time all particiapnts are in a listen only mode And later, we'll conduct the question-and-answer session and instruction will follow-up at that time. (Operator Instructions) And I would now like to introduce your host for today's conference, Mr. David Trone, Vice President of Investor Relations.
Thank you. Good afternoon, everyone, and welcome to Alarm.com's First Quarter 2018 Earnings Conference Call. As a reminder, this call is being recorded. Joining us today from Alarm.com are Steve Trundle, President and CEO; and Steve Valenzuela, CFO.
Before we begin, a quick reminder to our listeners. Management's discussion during the call today will include forward-looking statements, which may include projected financial results or operating metrics, business strategies, anticipated future products and services, anticipated investment and expansion, anticipated market demand or opportunities and other forward-looking statements. These forward-looking statements are based on our current expectations and beliefs and on information currently available to us. Statements containing words such as anticipate, believe, continue, estimate, expect, intend, may, will and other similar statements are intended to identify such forward-looking statements. These statements are subject to risks and uncertainties, including those contained in the Risk Factors section of our most recent annual report on Form 10-K filed with the Securities and Exchange Commission and subsequent reports that we file with the Securities and Exchange Commission from time to time that could cause actual results to differ materially from those contained in the forward-looking statements. Please note that these forward-looking statements made during this conference call speak only as of today's date, and Alarm.com undertakes no obligation to update these statements to reflect subsequent events or circumstances except to the extent required by law.
Also during this call, management's commentary will include certain non-GAAP financial measures and provide non-GAAP guidance. Management believes that use of these non-GAAP financial measures provides an additional tool for investors to use in understanding the company's performance and trends, but note that the presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Reconciliations between GAAP and non-GAAP metrics for our reported results can be found in the financial statement tables of our earnings press release, which we have posted on our Investor Relations website at investors.alarm.com.
This conference call is also being webcast and is also available on our Investor Relations website. The webcast of this call will be archived, and a telephone replay will also be available on our website.
With these formalities out of the way, I'd now like to turn the call over to Steve Trundle. You may begin.
Thanks, David, and welcome to everyone joining our call today. We are pleased to report a strong start to 2018 as our first quarter results exceeded our expectations. Our SaaS and license revenue in the first quarter was $68 million, up from $50 million in Q1 of