In this Research Note, we examine Alarm.com, a US provider of physical security, intelligent automation and energy management solutions for the smart home and commercial real estate. This analysis is based on their 2021 and Q1-2022 financial results, 10K Report, investor presentations, M&A and diversification strategy. Alarm.com, founded in 2000, became a public company in June 2015 on Nasdaq under the ticker symbol ALRM. In its IPO filing, Alarm.com reported that the substantial majority of its 2.3 million subscribers were in the smart home sector. Today, Alarm.com positions itself as “the leading SaaS platform for the intelligently connected property.”  The company has expanded their business for commercial enterprise customers with video analytics and shotgun detection technology and diversified its offering for the smart home with smart thermostats and flexible grid services.  The company goes to market through a network of service provider partners who both physically and technologically install and maintain their systems in homes and businesses. They have over 10,900 service […]