TYSONS, Va. — Alarm.com CEO Steve Trundle, in a recent conference call, highlighted the company’s Connected Fleet offering, which it began offering to partners in April and which he says sets the stage for cross-selling opportunities. The company talked up the offering – a cloud-based vehicle management solution – with partners at ISC West 2024. “Many of our partners indicated that connected fleets product integration, along with their existing trusted relationships with commercial end customers, will allow them to cross sell effectively into the fleet management category,” said Trundle during the call to discuss the company’s first quarter financial results. “As they evaluate the solution and develop their go to market plans overtime, we believe that this category will contribute to our growth on the commercial side of the business.” Among the company’s financial results was total revenue of $223.3 million, a 6.5% increase year over year, and SaaS and license revenue of $150.3 million, a nearly 10% increase. Trundle noted that thanks to developments in artificial intelligence (AI) and to technology like Connected Fleet, Alarm.com will have access to partners brimming with analytical data, which will better position the company as the market advances. “Big picture, we're going to continue to find purpose for new devices that collect data simply because the value of the data derived from each device is now substantially higher than it was three or four years ago,” he said. “Cameras as an example themselves were valuable three or four years ago, but they're infinitely more valuable when they can tell you if it's a family member or an unknown car, or if there are people standing in line longer than you would like.” You can find the full release and webcast online at investors.alarm.com.
