72 unchanged sentences
See the "Non-GAAP Measures" section of Item 2.
−Removed: "Management’s Discussion and Analysis of Financial Condition and Results of Operations" for a discussion of the limitations of non-GAAP adjusted EBITDA and a reconciliation of non-GAAP adjusted EBITDA from net income, the most directly comparable GAAP measurement, for the three and six months ended June 30, 2024 and 2023.
+Added: "Management’s Discussion and Analysis of Financial Condition and Results of Operations" for a discussion of the limitations of non-GAAP adjusted EBITDA and a reconciliation of non-GAAP adjusted EBITDA from net income, the most directly comparable GAAP measurement, for the three and nine months ended September 30, 2024 and 2023.
Downturns in general economic and market conditions and reductions in spending may reduce demand for our platforms and solutions, which could harm our revenue, results of operations and cash flows.
51 unchanged sentences
We have experienced significant growth and also have substantially expanded our operations in a short period of time.
−Removed: Our revenue increased from $618.0 million in 2020 to $881.7 million in 2023 and increased from $433.6 million for the six months ended June 30, 2023 to $457.1 million for the six months ended June 30, 2024.
+Added: Our revenue increased from $618.0 million in 2020 to $881.7 million in 2023 and increased from $655.4 million for the nine months ended September 30, 2023 to $697.6 million for the nine months ended September 30, 2024.
We do not expect to achieve similar growth rates in future periods.
14 unchanged sentences
If we fail to manage the expansion of our operations and infrastructure effectively, we may be unable to execute our business plan, maintain high levels of service or address competitive challenges adequately.
−Removed: We increased our number of full-time employees from 1,404 as of December 31, 2020 to 2,033 as of June 30, 2024.
+Added: We increased our number of full-time employees from 1,404 as of December 31, 2020 to 2,055 as of September 30, 2024.
Our growth has placed, and may continue to place, a significant strain on our managerial, administrative, operational, financial and other resources.
266 unchanged sentences
Any of these disruptions to our inventory and supply chain could have a material adverse effect on our business, financial condition, cash flows and results of operations.
−Removed: We have several large hardware suppliers from which we procure hardware on a purchase order basis, including three key suppliers that supplied products and components of our inventory which collectively represented 40% of our hardware revenue for the six months ended June 30, 2024 (26%, 8% and 6% of hardware revenue, respectively).
+Added: We have several large hardware suppliers from which we procure hardware on a purchase order basis, including three key suppliers that supplied products and components of our inventory which collectively represented 41% of our hardware revenue for the nine months ended September 30, 2024 (25%, 8% and 8% of hardware revenue, respectively).
The failure of any of these key suppliers or their subcomponent suppliers to deliver product on time or at the contracted price would materially and adversely affect our business, financial condition, cash flows and results of operations.
203 unchanged sentences
Goodwill and other identifiable intangible assets represent a significant portion of our total assets, and we may never realize the full value of our intangible assets.
−Removed: As of June 30, 2024, we had $224.3 million of goodwill and identifiable intangible assets.
+Added: As of September 30, 2024, we had $220.7 million of goodwill and identifiable intangible assets.
Goodwill and other identifiable intangible assets are recorded at fair value on the date of acquisition.
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We anticipate our efforts to operate and continue to expand our business internationally will entail additional costs and risks as we establish our international offerings and develop relationships with service provider partners to market, sell, install, and support our platforms, solutions and brand in other countries.
−Removed: Revenue in countries outside of North America accounted for 5% and 4% of our total revenue for the six months ended June 30, 2024 and 2023, respectively.
+Added: Revenue in countries outside of North America accounted for 5% and 4% of our total revenue for the nine months ended September 30, 2024 and 2023, respectively.
We have limited experience in selling our platforms and solutions in international markets outside of North America or in conforming to the local cultures,
35 unchanged sentences
potential to affect, at least some of our imports from China.
−Removed: Between one-fifth to one-half of the hardware products that we sell to our customers are imported from China and could be subject to increased tariffs.
+Added: Less than one-third of the hardware products that we sell to our customers are imported from China and could be subject to increased tariffs.
Other Alarm.com hardware products that are not manufactured in China may contain subcomponents made in China that could also be subject to increased tariffs.
220 unchanged sentences
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.