Alarm.com Holdings, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to the Alarm.com's first quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, to David Trones, Vice President of Investment Relations.

Thank you. Please go ahead, sir. Thank you.

Good afternoon, everyone, and welcome to Alarm.com's first quarter 2020 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, each from their separate offices as we are following social distancing practices. Before we begin, a quick reminder to our listeners. Management's discussion during the call today will include forward-looking statements which include projected financial performance for the second quarter and full year 2020 and key assumptions underlining the guidance including the timing and amount of installation activities by the fourth quarter of 2020, anticipated impact of the global economic uncertainty caused by the COVID-19 pandemic on our business, including on our hardware sales and our SaaS and license revenue growth rate, and on anticipated market demand for our offerings. Our business strategies, plans and objectives for future operations, continued enhancements to our platform and offerings, opportunities for growth in our current markets, 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 began, believe, continue, estimate, expect, indicates, may, project, will, and other similar words 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 on February 26, 2020, and in subsequent reports that we filed with the Securities and Exchange Commission from time to time, including the updated risk factors section of our quarterly report on Form 10-Q that we intend to file with the Securities and Exchange Commission shortly after this call. That could cause actual results to differ materially from those contained in the forward-looking statements. Please note that the 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 commentaries will include non-GAAP financial measures and provide non-GAAP guidance. Management believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in understanding the company's performance and trends, but notes 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 Thank you, David. Good afternoon and welcome to everyone.