Cloud Stocks: Leverages AI For Growth

The global smart home security market is estimated to grow at 19.8% CAGR to reach $8.55 billion by 2028 from $2.02 billion in 2020. Virginia-based (ALRM) is a fast-growing provider in the market that continues to expand its product offerings.’s Financials recently reported its second-quarter results. Q2 revenues grew 33.3% to $188.9 million. Adjusted net income increased to $27.7 million, or $0.54 per share, surpassing the market’s estimates of $0.39.

By segment, SaaS and license revenue increased 18.3% to $113.2 million, and hardware and other revenues grew 64.7% to $75.67 million.

For the third quarter, the company provided a forecast of SaaS and license revenues of $114.9-$115.1 million. It expects to end the current year with total revenues of $707.3-$717.8 million and an EPS of $1.77- $1.79. The market has forecast revenues of $713.91 million and an EPS of $1.79 for the year.

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Photo Credit: Gerd Altmann from Pixabay’s Expanding Products recently announced the launch of Ambient Insights for alarm response that leverages AI and ML capabilities within the home security market. Ambient Insights has been built on its AI and adaptive machine learning platform called Insights Engine. The platform evaluates each alarm signal based on a range of data points and trends, including the history of alarm signals from the location, activity levels detected in the property prior to the alarm event, and the time of day.

By recognizing activity around a property and delivering contextual information to monitoring stations in the event of an alarm, it is able to provide a more intelligent response mechanism. The stations have the ability to take the data and prioritize alarms as well as dispatch police, fire, or EMS to properties fast. It will also allow for a wider range of responses and will reduce dispatches for false alarms. The contextual information allows to determine whether the alarm was caused by unusual activity and calculate the likelihood of the alarm being canceled by the property owner. The service helps consumers by providing more intelligent security systems and monitoring stations by providing an efficient response system to build operational capacity. It further helps communities by reducing the demand placed on first responders.

Its stock is trading at $81.33 with a market capitalization of $4.05 billion. It hit a 52-week high of $108.67 earlier in January and a 52-week low of $57.31 in October last year.

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