What changed in this filing

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Item 1. Business

2023-02-24 compared with 2022-02-24 · 107 added, 68 removed, 494 unchanged (26% of the section changed)

Alarm.com is the leading platform for the intelligently connected property.

We offer a comprehensive suite of cloud-based solutions for smart residential and commercial properties , including interactive security, video monitoring, intelligent automation, access control, energy management and wellness solutions.

Millions of property owners depend on our technology to intelligently secure, automate and manage their residential and commercial properties.

Our cloud-based platform offers an expansive suite of Internet of Things, or IoT, solutions that address opportunities in the residential, multi-family, small business and enterprise commercial markets.

Alarm.com’s solutions include security, video and video analytics, energy management, access control, electric utility grid management, indoor gunshot detection, water management, health and wellness and data-rich emergency response.

As of December 31, 2022, 9.1 million homes and businesses around the world depend on our Alarm.com platform or our non-hosted software to intelligently and conveniently secure, automate and manage their properties.

In the last year alone, our platforms processed more than 300 billion data points generated by over 100 million connected devices.

We believe that this scale of subscribers, connected devices and data operations makes us the leader in the connected property market.

Our solutions are delivered through an established network of over 10,900 trusted service providers, who are experts at selling, installing and supporting our solutions.

We primarily generate Software-as-a-Service, or SaaS, and license revenue through our service provider partners, who resell these services and pay us monthly fees.

We also generate hardware and other revenue, primarily from our service provider partners and distributors.

Our hardware sales include connected devices that enable our services, such as video cameras, video recorders, gunshot detection sensors, gateway modules and smart thermostats.

Contracts with our service provider partners establish pricing for access to our platform solutions and for the sale of hardware.

Our solutions are delivered through an established network of trusted service providers, who are experts at selling, installing and supporting our solutions.

The number of our service provider partners exceeded 11,000 as of December 31, 2022.

We primarily generate SaaS and license revenue through our service provider partners, who resell these services and pay us monthly fees.

These service provider contracts typically have an initial term of one year, with subsequent renewal terms of one year.

Our service provider partners typically enter into contracts with our subscribers, which our service provider partners have indicated range from three to five years in length.

Our service provider partners have indicated that they typically have three to five year service contracts with residential and commercial property owners who use our solutions.

Our service provider partners are free to market and sell our products under their own guidelines at prices to the consumer that they establish independently.

We also generate hardware and other revenue, primarily from our service provider partners and distributors.

Our hardware sales include connected devices that enable our services, such as video cameras, video recorders, gunshot detection sensors, gateway modules and smart thermostats.

We believe that our network of service providers and the length of our service relationships with residential and commercial property owners, combined with our robust SaaS platforms and over 20 years of operating experience, contribute to a compelling business model.

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See the "Non-GAAP Measures" section of Item 7.

"Management’s Discussion and Analysis of Financial Condition and Results of Operations" for a discussion of the limitations of Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net income, the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States, or GAAP, for the years ended December 31, 2021, 2020 and 2019.

"Management’s Discussion and Analysis of Financial Condition and Results of Operations" for a discussion of the limitations of Adjusted EBITDA and a reconciliation of Adjusted EBITDA from net income, the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States, or GAAP, for the years ended December 31, 2022, 2021 and 2020.

Our Solutions and Integrated Platforms

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Our platform integrates with monitoring stations used by our service providers to monitor the system 24 hours a day, seven days a week, and coordinate emergency response as needed.

Subscribers can seamlessly connect to our services to control and monitor their security systems, as well as to Internet of Things, or IoT, devices including door locks, garage doors, thermostats and video cameras, through our family of mobile apps, websites and engagement platforms like voice control through Siri Shortcuts, Amazon Echo and Google Home, wearable devices like the Apple Watch and TV applications such as Apple TV and Amazon Fire TV.

Subscribers can seamlessly connect to our services to control and monitor their security systems, as well as to IoT devices including door locks, garage doors, thermostats and video cameras, through our family of mobile apps, websites and engagement platforms like voice control through Siri Shortcuts, Amazon Echo and Google Home, wearable devices like the Apple Watch and TV applications such as Apple TV and Amazon Fire TV.

The capabilities associated with this solution include:

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When unexpected activity is detected, the subscriber is automatically notified.

Facial recognition technology enhances unexpected activity alerts by enabling certain security panels with built-in cameras to proactively monitor for unauthorized sharing or theft of an authorized user's security system codes.

◦ Alarm Transmission.

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In addition, home or business owners who need emergency assistance at their property can send a one-touch panic signal directly from their mobile app to their monitoring station.

◦ Smart Arming.

Smart arming provides intelligent, automatic system arming and disarming that dynamically adjusts based on activity in the home.

Subscribers select periods when they want their system to monitor activity in their property and then either automatically arm or disarm the system.

Intelligently automating the security system enhances customer security and drives further user engagement with our smart home systems.

Flex IO is a versatile, completely wireless device that extends awareness across a property and to assets in any location.

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Subscribers can selectively control and manage notifications and assign virtual zones and multi-directional "tripwires" so they can monitor their home or business for highly specific activity.

Perimeter Guard is the latest enhancement to our video analytics capabilities and can proactively identify and engage would-be intruders before they can threaten physical property.

Perimeter Guard can proactively identify and engage would-be intruders before they can threaten physical property.

◦ Escalated Events .

Our Escalated Events enables monitoring stations to receive and respond to events generated by our suite of video analytics capabilities.

For example, our video monitoring solution can detect a person in a customer's backyard or in the parking lot of a business after hours and alert a central monitoring station.

A monitoring agent can then access video clips and live feeds to evaluate the situation quickly and dispatch first responders as needed.

Escalated Events adds a new layer of proactive security protection for property owners and creates new opportunities and applications for the professional monitoring services provided by our partners.

◦ Video Doorbell.

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◦ Whole Home Water Safety Solution.

Our comprehensive whole home water safety solution helps subscribers conserve water and protects properties from a full range of water-related damage.

Integrated with Alarm.com’s Smart Water Valve + Meter, our solution can monitor water usage, detect both low- and high-volume leaks and automatically shut off the property’s water supply.

Working with other connected devices in the Alarm.com ecosystem, our solution can also alert the homeowner about conditions that can lead to frozen and burst pipes, intelligently manage humidity levels and notify homeowners if a sump pump fails.

Our comprehensive whole home water safety solution helps subscribers conserve water and proactively protect their property from a full range of water-related damage.

Integrated with Alarm.com’s Smart Water Valve + Meter and Water Dragon devices, our solution can monitor water usage, detect both low- and high-volume leaks, alert the subscriber about conditions that can lead to frozen and burst pipes, intelligently manage humidity levels and notify homeowners if a sump pump fails.

The Smart Water Valve + Meter can also automatically shut off the property's water supply when it detects a leak.

Water Dragon is an easy-to-install option that clamps onto the main water line and uses ultrasonic technology to detect unexpected water activity.

◦ Solar Monitoring Solution.

Our integrated solar monitoring solution allows subscribers to track solar panel energy production as well as energy consumption in their property by day, week, month and year.

With the Alarm.com mobile app, our subscribers can monitor the property’s solar data alongside security and other energy-saving devices so they can easily leverage intelligent automation capabilities that can help lower power bills and reduce their environmental footprint.

As part of a comprehensive smart energy management solution, solar monitoring gives subscribers the information and insights to reduce overall energy consumption and manage a broad ecosystem of automation devices to compensate when solar production is low, such as automatically raising the thermostat setpoint or turning off lights.

Commercial Solutions

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◦ Commercial Grade Video Solutions.

Connected commercial cameras deeply integrate with the security and access control systems, capturing clips as activity occurs, which are uploaded to our cloud-based platform for secure storage and remote viewing through the web or our mobile app.

Connected commercial cameras deeply integrate with the security and access control systems, enabling them to capture video clips of important activity such as personnel entering and exiting a property or secure area or disarming the security system.

Video clips are uploaded to our cloud-based platform for secure storage and remote viewing through the web or our mobile app.

Subscribers can receive real-time alerts and video clips if the alarm goes off, a door is unlocked, or unexpected activity occurs outside of normal business hours.

Business owners can assess the situation and take appropriate action at any time of day and from any location.

Our commercial video solution operates with a diverse array of third-party commercial video cameras.

Supporting third-party cameras facilitates adoption of our commercial video solution by reducing the barriers to entry for small and medium-sized businesses that want to benefit from our intelligently integrated solutions without the cost of replacing existing installed cameras.

◦ Commercial Video Analytics.

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Real-time notifications and activity reporting can help streamline customer flows, reduce wait times, measure the effectiveness of marketing campaigns and enforce occupancy and social distancing limits.

Perimeter Guard enhances our Business Activity Analytics solution with a layer of proactive deterrence against would-be intruders.

Perimeter Guard can identify a person and automatically respond with audible alerts and flashing LED lights that inform the person that they are being monitored.

◦ Smarter Access Control.

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Leveraging advanced algorithms, our Smarter Access Control solution intelligently learns the activity patterns of users and access points for single or multiple property installations, detects unexpected events and alerts the subscriber of the irregular activity.

◦ Multi-site Management.

Commercial subscribers with multiple business locations and access points can easily manage Alarm.com’s commercial solutions from a single enterprise dashboard.

They can customize video feeds to monitor multiple properties and use sophisticated rules, user permissions and schedules to manage access across multiple locations and security partitions.

Business owners and managers can add and delete access credentials for new and departing employees and provide limited access to third parties such as delivery personnel, without calling their service provider or worrying about spare keys.

Alarm.com for Business subscribers can also use Smarter Access Control for COVID-19 contact tracing.

Expanded search and reporting parameters make it easy for business managers to identify any door, area or floor accessed by an infected employee.

Managers can easily search for and identify individuals who may have been exposed, enabling targeted exposure notifications and enhanced risk mitigation.

◦ Enterprise Dashboard and Multi-site Management.

Commercial subscribers can easily view and manage multiple business locations from a unified enterprise dashboard optimized for the web or mobile app.

They can quickly access and customize video feeds to monitor multiple properties, view information from access control and security systems, and monitor property temperature, smart thermostat set points and the temperature of refrigeration units.

Sophisticated rules, user permissions and schedules streamline access management across multiple locations and security partitions.

◦ Energy Savings.

Our smarter thermostats help subscribers reduce energy costs automatically, even if someone forgets to adjust the temperature when they are closing up at the end of the day, generating a return on investment.

◦ Protection for Valuables and Inventory.

Quick notifications keep business owners in the know about individuals entering or exiting the back office, the supply room, or any other specific rooms or doors.

◦ Proactive Protection for Valuables and Inventory.

Unexpected activity alerts provide business owners and managers with the early identification of activity such as unexpected entry after hours, or doors propped open that could cause energy waste or safety concerns, and help business owners quickly respond to problematic situations.

Notifications keep business owners in the know about individuals entering or exiting the back office, the supply room, or any other specific rooms or doors.

Alarm.com provides a time stamped log of which users armed or disarmed the system or entered the property using their keycard.

◦ Temperature Monitoring.

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The system will arm itself only after a certain period of inactivity in the property.

◦ Proactive Awareness.

Alarm.com provides a time stamped log of which users armed or disarmed the system or entered the property using their keycard.

◦ Professionally Supported and Low Cost of Ownership.

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It provides long-term storage of high-resolution video, low bandwidth consumption and a full suite of centralized management capabilities that include remote viewing, administration and health reporting for deployments that can include thousands of video cameras.

◦ Video Analytics Platform .

OpenEye’s video analytics platform is optimized to support the requirements of its large-scale enterprise commercial customers.

It can identify people and reduce false motion events caused by background movement and other image noise to provide highly accurate activity detection.

Subscribers can create more actionable activity alerts to respond to incidents and quickly find associated video recordings.

◦ Enterprise-Level Capabilities.

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The integration further unifies intrusion, access control and video solutions to offer a more intelligent and convenient way to manage and secure commercial properties.

Shooter Detection Systems expands the platform capabilities we provide to the overall commercial security market.

Shooter Detection Systems expands the platform capabilities we provide to the commercial security market.

Our multi-sensor solution provides highly accurate indoor gunshot detection to help alert employees and the public against active shooter threats.

The solution uses a dual-mode detection technology that combines acoustic sensors with specialized infrared flash detectors, in tandem with fully proprietary gunshot detection software algorithms to maximize detection without driving false positives.

The solution uses a dual-mode detection technology that combines acoustic sensors with specialized infrared flash detectors, in tandem with proprietary gunshot detection software algorithms to maximize detection without driving false positives.

Gunshot sensors communicate to the Guardian Gateway Software, which provides notification pathways to first responders and building occupants, and enables cloud-based capabilities such as the Guardian situational awareness application that tracks and maps gunshot events.

Service Provider Solutions

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The On-Site Wrap Up feature within the MobileTech application helps technicians keep track of and record the tasks they are required to complete during a service call to a customer property.

Service providers can establish standard actions for technicians and monitor implementation.

Service providers can establish standard actions for technicians and monitor

implementation.

On-Site Wrap Up helps Alarm.com’s service provider partners ensure that their field technicians deliver consistent, high-quality service that reduces support costs and customer attrition.

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We respect the privacy of our subscribers and do not sell their data.

Our reputation is strengthened through our network of

over 10,900 service provider partners, who have significant expertise in the delivery of our SaaS platforms and suite of solutions.

Our reputation is strengthened through our network of over 11,000 service provider partners, who have significant expertise in the delivery of our SaaS platforms and suite of solutions.

Benefits to Service Provider Partners:

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Our cloud-based platforms can help reduce our service provider partners’ service delivery and support costs.

Remote Toolkit enables our service provider partners to remotely configure, support and upgrade their customers' hardware or software, eliminating the cost of an in-person service call for many routine support issues.

Remote Toolkit enables our service provider partners to remotely configure, support

and upgrade their customers' hardware or software, eliminating the cost of an in-person service call for many routine support issues.

In addition, we believe our service provider partners can generate more revenue from each subscriber by providing services beyond traditional security.

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We believe the benefits we can deliver to our subscribers and our service provider partners create a significant competitive advantage in the connected property market.

◦ Scale of Subscriber Base and Service Provider Coverage.

◦ Market Leader.

Alarm.com is a pioneer in the intelligently connected property market.

Our platforms currently support millions of residential and commercial subscribers and we have over 11,000 service provider partners who market, sell and support Alarm.com solutions.

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We processed more than 300 billion data points in 2022.

As consumer preferences shift towards more proactive, intelligence-based features, we believe that our investments in proprietary analytics give us a competitive advantage.

As consumer preferences shift towards more proactive, intelligence-based features, we believe that our investments in proprietary analytics, machine learning and artificial intelligence give us a competitive advantage.

◦ Trusted Brand.

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◦ Commitment to Innovation.

We are a pioneer in the intelligently connected property market and we continue to make significant investments in innovative research and development.

We continue to make significant investments in innovative research and development.

Our investment has resulted in 712 issued patents as of December 31, 2022 and numerous patent applications pending which we believe can help ensure that our technology remains competitively differentiated and legally protected.

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Our key growth strategies include:

◦ Drive SaaS and license revenue growth and add new service providers.

◦ Drive SaaS and license revenue growth by expanding the solutions that our service providers deploy.

We will continue to focus on helping our service provider partners succeed in driving adoption of our full suite of services.

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As a pioneer in connected home and business solutions, we have made significant investments in building our platforms for over 20 years.

We intend to continue to invest heavily to add additional innovative offerings and broaden our suite of solutions.

We intend to continue to invest heavily to add

additional innovative offerings and broaden our suite of solutions.

As the market for IoT grows and more devices become connected, we are building technology and partnerships to connect these devices to our platforms.

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We are investing in international expansion because we believe there is a significant global market opportunity for our products and services.

Today, our products are currently localized and available in approximately 40 countries outside of North America, including Argentina, Australia, Belgium, Brazil, Chile, Colombia, Iceland, Ireland, Netherlands, New Zealand, Sweden, Switzerland and Turkey.

Today, our products are currently localized and available in approximately 50 countries outside of North America, including Argentina, Australia, Chile, Colombia, Spain, Sweden, Switzerland, Turkey, the United Kingdom and Uruguay.

We intend to continue to grow our number of international subscribers by strengthening our presence in existing markets and expanding to additional markets.

◦ Expand into the commercial market segment.

We believe there is significant opportunity to expand our products and services to small and medium businesses, ranging from single-site to multi-location enterprises.

We continue to see significant opportunity to expand our products and services into the commercial market, including small and medium businesses, national accounts and enterprises.

We intend to leverage many of our existing solutions, including our Alarm.com for Business solution, to provide such businesses with visibility into their key operational activities, keep businesses secure, provide facility access to employees and vendors remotely and manage their energy costs.

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We believe there is an opportunity to significantly increase the adoption of our solutions as more residential and commercial property owners adopt intelligently connected property solutions and as the major technology trends of mobile access, the IoT, big data and cloud technology continue to create opportunities to connect people with their properties in new ways.

According to research data published by Strategy Analytics in 2021, the global installed base for smart home devices will grow at a 22.7% compound annual growth rate from 2021 to 2025.

We believe that this trend highlights a significant opportunity for market participants, including Alarm.com and our service provider partners.

Our Technology

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The solutions we provide rely on technology and data, and cybersecurity is a crucial part of our business.

We conduct our business in the United States and are expanding internationally in various other countries.

We primarily conduct our business in the United States and are expanding internationally in various other countries.

Conducting expanded international operations subjects us to additional risks, including our exposure to cyber-attacks.

We dedicate substantial resources to the protection of our data, systems and infrastructure.

We have implemented and continue to maintain a comprehensive information security program consisting of policies, procedures, and technology designed to maintain the privacy, security and integrity of our data, confidential information, systems and networks.

Managing cybersecurity risk is a top priority that we monitor and review regularly with our Board of Directors.

and networks.

Among other things, the program includes controls designed to limit and monitor access to our systems, networks and data, prevent inappropriate or unauthorized access or modification, and monitor for threats or vulnerability.

Additionally, we focus our efforts on education and training for employees, using adaptive multi-factor authentication, emphasizing strong password policies and implementing security controls for contractors.

We also have third parties perform penetration tests on IoT devices, customer-facing applications and internal and external cloud environments as well as security assessments of iOS and Android mobile applications.

We maintain a disaster recovery solution and implement enhancements as necessary and also use advanced web application firewalls that enable theft prevention and abuse of credentials and sensitive data.

Hardware and Manufacturing

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It can easily install on a backyard gate, detached garage, remote storage unit, or it can be tethered to other assets like a boat, tractor or lawn mower, and triggers activity notifications to subscribers as well as video recordings when activity is detected, or an asset is moved.

◦ Image Sensor .

Our image sensor, designed by our device engineering team and manufactured in the United States by a contract manufacturing partner, is a wireless, battery-operated, passive infrared motion sensor that captures images based on various system triggers.

These images are transmitted by our cellular communications module to our cloud platforms.

Subscribers can securely view images through our website and mobile apps, as well as customize their notification settings to have new images automatically sent via SMS and email.

◦ Shooter Detection Systems.

T he Guardian system from Shooter Detection Systems includes proprietary, dual-mode gunshot sensors that are installed inside the subscriber's property to help protect people against active shooter threats.

Each gunshot sensor uses a dual-mode detection technology that combines acoustic sensors with specialized infrared flash detectors.

Proprietary gunshot detection software algorithms maximize detection and minimize false positives.

◦ Video Cameras .

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The MobileTech app assists in proper wiring and installation and Remote Toolkit enables remote access to the thermostat settings for easy troubleshooting and support.

◦ Smart Water Valve + Meter.

Our Smart Water Valve + Meter is an innovative addition to the Alarm.com Water Management solution, identifying low and high-volume water leaks and constantly monitoring overall water use and current usage rates in homes and businesses.

Freeze and winter plumbing alerts include a reminder to winterize external water supplies and notifications triggered by local weather conditions when both water and outdoor temperatures create a greater risk for frozen pipes.

Deep integration with the Alarm.com platform leverages intelligence and insights to help reduce the risk of losses from water emergencies, while also improving water conservation efforts.

◦ Smart Water Valve + Meter and Water Dragon.

Our Smart Water Valve + Meter and Water Dragon devices enable Alarm.com’s Whole Home Water Management solution.

Both devices can identify low and high-volume water leaks and constantly monitor overall water use and current usage rates in homes and businesses.

Deep integration with the

Alarm.com platform leverages intelligence and insights to help reduce the risk of losses from water emergencies, while also improving water conservation efforts.

The Smart Water Valve + Meter can automatically shut off the property’s water supply when a leak is detected.

Water Dragon is an easy-to-install option that clamps onto the main water line and uses ultrasonic technology to detect unexpected water activity.

Research and Development

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We also believe that the combination of our solutions and our service provider partners’ expertise is the most effective way to drive mass market adoption of the intelligently connected property.

The traditional security and home automation market is highly fragmented with approximately 15,000 security service providers nationally.

The traditional security and home automation market is highly fragmented with up to approximately 15,000 security service providers nationally.

According to the Barnes Buchanan 2023 Security Alarm Industry Overview and Update report, the top 5 dealers represented approximately 35% of all industry recurring monthly revenue in 2022.

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To accomplish these objectives, we rely on a combination of patent, trademark, copyright and trade secret laws in the United States and other jurisdictions, as well as license agreements, confidentiality agreements and other contractual protections.

As of December 31, 2021, we owned 544 issued United States utility patents, one issued United States design patent, eight issued Canadian patents, 11 issued Australian patents, among others, and these patents are scheduled to expire between 2022 and 2040.

As of December 31, 2022, we owned 666 issued United States utility patents, one issued United States design patent, 10 issued Canadian patents, 24 issued Australian patents, among others, and these patents are scheduled to expire between 2024 and 2041.

We continue to broaden our intellectual property portfolio and file patent applications and as of December 31, 2022, we had 268 pending utility patent applications and 41 pending provisional patent applications filed in the United States.

We also had two pending international patent applications and 158 international patent applications pending under the Patent Cooperation Treaty.

We also had three pending international patent applications and 234 international patent applications pending under the Patent Cooperation Treaty.

The claims for which we have sought patent protection apply to both our platforms and solutions.

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We also rely on several registered and unregistered trademarks to protect our brand.

We have 20 registered trademarks in the United States, including Alarm.com and the Alarm.com logo and design, and eight registered trademarks in Canada, one in the United Kingdom and one in the European Union.

We have 34 registered trademarks in the United States, including Alarm.com and the Alarm.com logo and design, 12 registered trademarks in Canada, seven in the United Kingdom and six in the European Union, among others.

We seek to protect our intellectual property rights by requiring our employees and independent contractors involved in development to enter into agreements acknowledging that all inventions, trade secrets, works of authorship, developments, concepts, processes, improvements and other works generated by them on our behalf are our intellectual property, and assigning to us any rights, including intellectual property rights, that they may claim in those works.

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To help meet these goals we intend to continue promoting, providing and investing in the further development of solutions that can help reduce energy waste and facilitate water conservation.

These include demand response programs, smart thermostats, energy management solutions, Smart Water Valve + Meter device and advanced functionality within the Alarm.com app.

These include demand response programs, smart thermostats, energy management solutions, solar monitoring solutions, Smart Water Valve + Meter device and advanced functionality within the Alarm.com app.

Our demand response programs manage over 900,000 connected devices for more than 60 energy utilities in North America.

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The Alarm.com mobile app includes customizable scenes buttons that can assist in increasing the potential for energy efficiency by adjusting multiple devices in the property with a single command.

For example, a homeowner can turn on the fan, raise or lower shades, turn on or off lights and adjust the thermostat with a single command.

For example, a homeowner can turn on the fan,

raise or lower shades, turn on or off lights and adjust the thermostat with a single command.

Commercial users can create automated schedules to secure a property and automatically adjust the thermostat at a specified time.

Our recently launched Smart Water Valve + Meter device is part of a comprehensive water management solution.

Our Smart Water Valve + Meter device is part of a comprehensive water management solution.

Two on-board flow sensors monitor water usage to facilitate water conservation behavior.

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Additionally, several of our offices have building recycling programs, including programs specific to batteries and electronics.

During 2021, we created a Sustainability Team that is focused on integrating sustainability throughout our organization.

Our Sustainability Team is focused on integrating sustainability throughout our organization.

Through the efforts of the Sustainability Team and others throughout our organization, we have improved the packaging for some of our hardware by switching to recyclable materials and eliminating polyethylene bags from our user guides.

We are also actively working towards replacing many of our paper manuals with online guides.

We have also replaced many of our paper manuals with online guides.

The Sustainability Team has also promoted community events to help increase awareness about sustainability and the environment, including tree planting and park cleanup events.

We are committed to providing an equal opportunity for all employees regardless of race, gender, sexual orientation, religion or other differences.

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We continue to promote our Women in Tech group, aimed to empower women to grow their technical expertise and leadership in science, engineering and technology at Alarm.com.

We also developed and launched an Apprenticeship Program to help break down traditional barriers to entry into the technology industry that provides hands on training that can be applied in the real world.

We continue to prioritize the health and safety of our employees during the COVID-19 pandemic.

As we continue to navigate remote work and the stresses of the pandemic, it is important that we support the mental health of our employees.

In 2021, we partnered with a company that helps support mental health in the workplace through trainings and information sessions.

We also developed an Apprenticeship Program to help break down traditional barriers to entry into the technology industry that provides hands on training that can be applied in the real world.

We continue to prioritize the health and safety of our employees.

We partner with a company that helps support mental health in the workplace through trainings and information sessions.

We also provide additional healthcare benefits to employees, making it safer and more convenient to get the care they need remotely.

In addition to primary care, these additional remote healthcare benefits include physical therapy, mental health services and health coaching.

In 2021, we also provided free access to an app that promotes wellness through meditation and provides employees with hundreds of guided exercises for meditation, sleep, focus and movement.

We also provide free access to an app that promotes wellness through meditation and provides employees with hundreds of guided exercises for meditation, sleep, focus and movement.

We also partnered with a company that provides various family care benefits, including access to a self-service, searchable database of providers for family care needs, including care for children, adult dependents, pets and tutoring.

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We utilize both instructor-led training and online learning to provide custom training courses to ensure our sales and services teams stay up-to-date on our products and service offerings.

For our talent pipeline development, we work closely with individual departments to provide training and hands-on support for managers and leaders, to assess talent, identify development opportunities and discuss succession planning.

For our talent pipeline development,

we work closely with individual departments to provide training and hands-on support for managers and leaders, to assess talent, identify development opportunities and discuss succession planning.

In addition, we regularly conduct employee surveys to gauge employee engagement and identify areas of focus.

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We believe the acquisition of the developed technology will continue to advance our load-shaping energy management solution allowing additional devices to participate in utility programs that reduce or shift power consumption during peak demand periods.

On September 23, 2022, we acquired 85% of the issued and outstanding shares of capital stock of Noonlight, Inc., or Noonlight.

Noonlight provides a connected safety and event management software and services platform that enables new applications and provides enhanced emergency response capabilities.

We believe the acquisition of Noonlight will enhance our comprehensive suite of interactive cloud-based services and allow us to expand markets for emergency response services as well as accelerate innovation in those services.

Available Information

Our website is located at www.alarm.com and our investor relations website is located at http://investors.alarm.com.

Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, are available free of charge on our investor relations website as soon as reasonably practicable after we electronically file

such material with, or furnish it to, the SEC.

The SEC maintains an internet site that contains reports, proxy and information statements and other information.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business