Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Alarm.com operates a software-as-a-service and connected device platform with diversified revenue across residential and commercial security, along with distributed energy resource management through its EnergyHub subsidiary.</li><li>In the second quarter of 2026, SaaS and license revenue reached $188.8 million, up 11% year-over-year and above guidance.</li><li>Adjusted EBITDA increased 15.7% to $57.7 million, with margin expanding approximately 115 basis points to 20.8%.</li></ul>

Alarm.com operates a software-as-a-service and connected device platform with diversified revenue across residential and commercial security, along with distributed energy resource management through its EnergyHub subsidiary.In the second quarter of 2026, SaaS and license revenue reached $188.8 million, up 11% year-over-year and above guidance.Adjusted EBITDA increased 15.7% to $57.7 million, with margin expanding approximately 115 basis points to 20.8%.

Alarm.com’s $754 Million SaaS Story: AI And EnergyHub Are Reshaping Growth!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Alarm.com is a leading platform for the intelligently connected property, providing a comprehensive suite of cloud-based solutions for residential and commercial markets. Its business model is centered on high-margin, recurring SaaS and license revenue, distributed through a large network of professional service providers.</li>
  <li>The company is well-positioned to capitalize on the growing adoption of smart home and business security solutions, driven by increasing demand for automation, video monitoring, and energy management. Growth is primarily fueled by expanding services per user (ARPU) and strategic expansion into commercial and international markets.</li>
  <li>Key risks to the outlook include intense competition from both professionally installed systems and DIY solutions from large technology companies, reliance on its dealer network for sales and installation, and the need for continuous innovation to keep pace with rapid technological changes in the IoT landscape.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Alarm.com is a leading platform for the intelligently connected property, providing a comprehensive suite of cloud-based solutions for residential and commercial markets. Its business model is centered on high-margin, recurring SaaS and license revenue, distributed through a large network of professional service providers.
  The company is well-positioned to capitalize on the growing adoption of smart home and business security solutions, driven by increasing demand for automation, video monitoring, and energy management. Growth is primarily fueled by expanding services per user (ARPU) and strategic expansion into commercial and international markets.
  Key risks to the outlook include intense competition from both professionally installed systems and DIY solutions from large technology companies, reliance on its dealer network for sales and installation, and the need for continuous innovation to keep pace with rapid technological changes in the IoT landscape.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Alarm.Com Holdings (ALRM US) - Jul 2026

<ul><li>Alarm.com reported solid fourth quarter and full year 2025 performance, which showcased its strategic advancements and financial growth.</li><li>The company's SaaS and license revenue for the quarter was $180 million, marking an 8.8% increase year-over-year.</li><li>Additionally, Alarm.com celebrated achieving over $1 billion in annual total revenue for the year, a noteworthy milestone that reflects the robustness of its technology and business model.</li></ul>

Alarm.com reported solid fourth quarter and full year 2025 performance, which showcased its strategic advancements and financial growth.The company's SaaS and license revenue for the quarter was $180 million, marking an 8.8% increase year-over-year.Additionally, Alarm.com celebrated achieving over $1 billion in annual total revenue for the year, a noteworthy milestone that reflects the robustness of its technology and business model.

Alarm.com: From Smart Security to Energy Ecosystems—Is This Becoming a Multi-Vertical Compounder?

<ul><li>Alarm.com reported strong financial results for the third quarter of 2025, surpassing expectations and demonstrating resilience and growth across different sectors of its business.</li><li>SaaS and license revenue growth was notable, reaching $175.4 million, with adjusted EBITDA at $59.2 million.</li><li>The company's energy segment, especially through its EnergyHub platform, has been a significant growth driver.</li></ul>

Alarm.com reported strong financial results for the third quarter of 2025, surpassing expectations and demonstrating resilience and growth across different sectors of its business.SaaS and license revenue growth was notable, reaching $175.4 million, with adjusted EBITDA at $59.2 million.The company's energy segment, especially through its EnergyHub platform, has been a significant growth driver.

Alarm.com Is Opening Its Video Stack to Third-Party Cameras — A Hardware-Light Strategy to Scale Camera Counts and Revenue!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>As discussed for two weeks, we see more and more signs leading us to believe SPX made a major bottom at 4800-4820, which was expected support from our 4/8/25 Compass.</li>
<li>We have been short-term bullish since our 4/22/25 Compass -- when the SPX was testing 5100-5120 support -- but now we are upgrading our intermediate-term outlook to bullish as well.</li>
<li>Our short- and intermediate-term outlook will remain bullish as long as the SPX is above 5500</li>
</ul>


As discussed for two weeks, we see more and more signs leading us to believe SPX made a major bottom at 4800-4820, which was expected support from our 4/8/25 Compass.
We have been short-term bullish since our 4/22/25 Compass -- when the SPX was testing 5100-5120 support -- but now we are upgrading our intermediate-term outlook to bullish as well.
Our short- and intermediate-term outlook will remain bullish as long as the SPX is above 5500


Lockout Rally Continues; Still Short-Term Bullish on SPX, Now Upgrading I.T. Outlook to Bullish Also

United States

Alarm.com Holdings, Inc. provides interactive security solutions for home and business owners. The Company offers security systems such as image sensor, crash and smash protection, web control, mobile access, and video monitoring. Alarm.com Holdings operates worldwide.

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Alarm.Com Holdings (ALRM US)

Alarm.com’s $754 Million SaaS Story: AI And EnergyHub Are Reshaping Growth!

Alarm.com operates a software-as-a-service and connected device platform with diversified revenue across residential and commercial security,...

Baptista Research

Primer: Alarm.Com Holdings (ALRM US) - Jul 2026

Alarm.com is a leading platform for the intelligently connected property, providing a comprehensive suite of cloud-based solutions for...

αSK Primers

Alarm.com: From Smart Security to Energy Ecosystems—Is This Becoming a Multi-Vertical Compounder?

Alarm.com reported solid fourth quarter and full year 2025 performance, which showcased its strategic advancements and financial growth. The...

Baptista Research

Alarm.com Is Opening Its Video Stack to Third-Party Cameras — A Hardware-Light Strategy to Scale Camera Counts and Revenue!

Alarm.com reported strong financial results for the third quarter of 2025, surpassing expectations and demonstrating resilience and growth across...

Baptista Research

Lockout Rally Continues; Still Short-Term Bullish on SPX, Now Upgrading I.T. Outlook to Bullish Also

Lockout Rally Continues; Still Short-Term Bullish on $SPX, Now Also Upgrading Intermediate-Term Outlook to Bullish; Upgrading Technology $XLK $SMH...

Vermilion Research

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