Alarm.com provides a cloud-based software platform that connects and manages security, video, and automation devices in residential and commercial properties. The platform integrates IoT devices — door locks, cameras, thermostats, access control readers, and more — into a unified system accessible via mobile app and web interface. Alarm.com sells almost entirely through a network of roughly 12,000 independent service providers (security dealers, integrators, HVAC installers) who install and support the system for end customers; ADT is the largest single partner. The core revenue model is recurring monthly SaaS fees charged to service providers per subscriber account, which represent roughly 68% of total revenue. Hardware sales (cameras, thermostats, cellular modules) make up the remaining ~32% and carry lower margins, but hardware gross profit covers over half of customer acquisition costs, making the go-to-market model capital-efficient. Revenue retention runs 92-95% historically, supported by the 3-to-5-year contracts service providers hold with property owners. SaaS revenue grows through new account additions, ARPU expansion as subscribers add video and analytics services, and modest annual price increases. Alarm.com's three growth initiatives — commercial, international, and EnergyHub — collectively represent about 30% of SaaS revenue and grow at roughly 20-25% annually, well above the mature North American residential core. EnergyHub, a subsidiary, sells demand response software to utilities, enabling them to aggregate distributed energy resources like smart thermostats and EV chargers into virtual power plants.