Connected home services provider Alarm.com on Friday announced that it is planning to go public by filing for an initial public offering. According to documents filed with the U.S. Securities and Exchange Commission, the company is seeking to raise up to $75 million through the IPO.
In a statement, Alarm.com said that the number of shares to be sold and the price range for the proposed offering have yet to be determined. The company has applied to list its common stock on the NASDAQ Global Select Market under the ticker symbol ALRM.
In its S-1 filing with the SEC, the company said that its revenue for the year ending Dec. 31, 2014, was $167.3 million, representing year-over-year revenue growth of 28 percent. For the first quarter of 2015, Alarm.com said that its revenue was $46 million, representing a year-over-year revenue growth of 25 percent.
Additionally, the company said in the filing that it intends to maintain its leadership in the connected home space while continuing to innovate. Among the growth strategies listed in the filing include:
- Driving SaaS and License Revenue Growth and Adding New Service Providers.
- Upgrade Traditional Security Customers to Connected Home Solutions
- Continue to Invest in the Company Platform
- Expand International Presence
- Expand Channels into the Home
- Pursue Selective Strategic Acquisitions
Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, and BofA Merrill Lynch are acting as joint book-running managers for the proposed offering. Stifel, Raymond James & Associates, Inc., William Blair & Company, LLC and Imperial Capital are acting as co-managers.
