Alarm.com Holdings, Inc.

Good day and thank you for standing by. Welcome to the Alarm.com third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Matthew Zartman. Please go ahead.

Thank you, operator. Good afternoon, everyone, and welcome to Alarm.com's third quarter 2025 earnings conference call. This call is being recorded. Joining us today are Steve Trundle, our CEO, Kevin Bradley, our CFO, and Dan Kersner, president of our platform's business. During today's call, we will be making forward-looking statements, which are predictions, projections, estimates, and other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. We refer you to the risk factors discussed in our quarterly report on Form 10-Q and our Form 8-K, which will be filed shortly with the SEC along with the associated press release. The call is subject to these risk factors, and we encourage you to review them. Alarm.com assumes no obligation to update forward-looking statements or other information which speak as of their respective dates. In addition, several non-GAAP financial measures will be discussed on the call. A reconciliation of GAAP to non-GAAP measures can be found in today's press release on our Investor Relations website. I'll now turn the call over to Steve Trundle. Steve?

Thank you, Matt. Good afternoon and welcome to everyone. We are pleased to report financial results for the third quarter that were above our expectations. SAS and license revenue in the third quarter grew to $175.4 million and adjusted EBITDA was $59.2 million. We saw better than expected performance across the business during the quarter with particular strength in our energy business. Following my remarks, Dan Kersner, who is the president of our platforms business, will walk through several new product releases and how we're increasingly applying AI to our platform and business. And then Kevin Bradley, our CFO, will review our financial results guidance and provide our early initial look at next year. I'll begin with our annual partner summit, which we held here in Washington, D.C. in early October. We hosted about 200 key service provider partners from around the globe. Our team presented newly released and upcoming products while simultaneously taking the pulse on what our partners are seeing in the markets they serve. In my conversations, partners expressed nice enthusiasm for our overall roadmap and particularly for our new residential and commercial video products, including our upcoming battery cameras. Our remote video monitoring capability delivered through our subsidiary Checked also drew strong partner interest. Checked connects Central Station workflows with AI-driven video analytics to enable Central Station operators to cost-effectively monitor live video feeds, deter crime before it occurs, and seamlessly initiate an emergency response when the situation calls for escalation. I also spoke to a few of our end customers who have large commercial installations. It was good to hear that they are pleased with the direction of our product and the enhancements we have been making to our multi-site access control video and intrusion software solutions. We continue to hear from our partners that our unified commercial solutions are winning in the market due to the ease of managing these complex systems through a single integrated interface. Over the last year, we've seen a healthy uptick in commercial video account creation, and our commercial access control subscriber base increased approximately 30%. Our growth initiatives, Commercial, International, and Energy Hub, collectively continued to drive SAS revenue growth in the 20% to 25% year-over-year range, and accounted for 30% of total SAS revenue this quarter. I want to highlight Energy Hub's progress with its platform strategy which is enabling higher value services for its utility clients and reinforcing its competitive advantage and leading market share in the North American residential market. As a reminder, Energy Hub's software platform helps utilities match electricity demand and supply in real time. It does this by orchestrating distributed energy resources such as smart thermostats, residential batteries, and EVs to provide load flexibility. Demand for Energy Hub is driven by the long-term grid challenges faced by utilities. These include increasing load from electrification of transportation and the growing footprint of data centers, along with growing variability in generation as the grid decarbonizes. Energy Hub's load flexibility solutions are faster and more cost-effective to deploy than building new infrastructure. The Energy Hub team is focused on platform expansion to support more classes and manufacturers of edge devices. Last month, Energy Hub announced an expanded partnership with Tesla. Owners of Tesla's wall connector EV chargers can enroll their product in Energy Hub programs directly in the Tesla app. A large US utility is already using the integration to accelerate EV program enrollments and it's being introduced to many of the more than 30 EV-managed charging programs that Energy Hub supports in North America. The goal of Energy Hub's ecosystem expansion is to drive platform adoption by providing a single orchestration layer across device classes. Energy Hub also provides AI-driven dynamic load shaping capabilities that increase flexibility and address a broader range of grid management use cases. In summary, I'm pleased with our third quarter results and the continued growth we see across the business. Alarm.com has developed strong, durable positions addressing diverse and dynamic opportunities in residential and commercial security and residential energy management. Our IoT-based software solutions are transforming those markets, and we are well positioned to drive further growth over time. I want to thank our service provider partners, and our team for their hard work, and our investors for their continued trust in our business. I'll now turn things over to Dan Kersner. Dan?