Cloud Stocks: Expands Products To Address Competition

According to Verified Market Research, the global smart home market was valued at $80.83 billion in 2019 and is estimated to grow at 14% CAGR to $207.88 billion market by 2027. Virginia-based (Nasdaq: ALRM) is cashing in on this growth by providing security solutions for smart homes and businesses.’s Financials recently reported its third-quarter results. Q3 revenues grew 24.2% to $158.85 million. Adjusted net Income increased to $24.8 million, or $0.49 per share, surpassing the market’s estimates of $0.37.

By segment, SaaS and license revenue increased 17.9% to $100.1 million, and hardware and other revenues grew 36.7% to $58.7 million.

For the fourth quarter, the company provided a forecast of SaaS and license revenues of $101.2-$101.4 million. It expects to end the current year with total revenues of $594-$604.2 million and an EPS of $1.57- $1.60. The market has forecast revenues of $559.25 million with an EPS of $1.47 for the year.’s Expanding Products

During the quarter, announced the launch of its new device Flex I/O. Flex I/O is a security sensor that can run as a standalone unit, not requiring a connection to a control panel, hub, or WiFi network. While it can exist on its own, it also as the capability to be fully integrated into a previously existing multi-sensor control panel environment. It has been integrated with an LTE CAT-M and a cellular communication capability. By making it battery powered, allows for it to be deployed anywhere.

Flex I/O has been designed for both indoor and outdoor applications. It can take care of extended security and awareness to any location on the property, as well as other, more distant properties. It addresses new security use cases for the company. It expands its reach into areas where existing sensors and devices that are directly connected to the control panel via low-voltage wires are not enough. For instance, residential subscribers can now monitor driveway gates or pool gates, detached garages, remote storage units, and other such locations. Similarly, within the commercial market, subscribers can leverage the service to create personalized alerts and use the event data on the sensors to trigger automation scenarios and video recordings.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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