$ 842,559

$ 748,969

$ 618,003

Cost of revenue:

General and administrative

^[1]

342,581

305,899

227,428

Operating expenses:

Sales and marketing

92,748

86,664

75,967

106,688

87,406

78,643

Research and development

218,635

177,713

152,147

Amortization and depreciation

30,870

29,715

27,520

Total operating expenses

448,941

381,498

334,277

Operating income

51,037

61,572

56,298

Interest expense

(3,144)

(15,956)

(2,596)

Interest income

8,759

587

870

Other (expense) / income, net

(59)

(134)

25,588

Income before income taxes

56,593

46,069

80,160

Provision for / (benefit from) income taxes

962

(5,106)

3,500

Net income

55,631

51,175

76,660

Net loss attributable to redeemable noncontrolling interests

707

1,084

1,193

Net income attributable to common stockholders

$ 56,338

$ 52,259

$ 77,853

Net income per share:

Basic (USD per share)

$ 1.13

$ 1.05

$ 1.59

Diluted (USD per share)

$ 1.07

$ 1.01

$ 1.53

Weighted average common shares outstanding:

Basic (in shares)

49,926,236

49,869,857

48,950,328

Diluted (in shares)

54,932,757

51,919,902

50,963,190

SaaS and license revenue

Revenue:

$ 520,377

$ 460,372

$ 393,257

Cost of revenue:

Hardware and other revenue

^[1]

73,897

66,758

53,539

Revenue:

322,182

288,597

224,746

Cost of revenue:

Summary of Significant Accounting Policies

^[1]

$ 268,684

$ 239,141

$ 173,889

[1]	Exclusive of amortization and depreciation shown in operating expenses below.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 622,165	$ 710,621
Accounts receivable, net of allowance for credit losses of $2,835 and $2,168, respectively, and net of allowance for product returns of $1,551 and $1,181, as of December 31, 2022 and 2021, respectively	124,283	105,548
Inventory	115,584	75,276
Other current assets, net of allowance for credit losses of $0 and $2, as of December 31, 2022 and 2021, respectively	29,056	26,175
Total current assets	891,088	917,620
Property and equipment, net	57,172	41,713
Intangible assets, net	82,458	91,406
Goodwill	148,183	112,901
Deferred tax assets	84,185	13,547
Operating lease right-of-use assets	28,933	30,479
Other assets, net of allowance for credit losses of $2 and $78, as of December 31, 2022 and 2021, respectively	37,356	24,349
Total assets	1,329,375	1,232,015
Current liabilities:
Accounts payable, accrued expenses and other current liabilities	119,657	89,816
Accrued compensation	25,582	23,495
Deferred revenue	7,540	5,697
Operating lease liabilities	12,157	10,331
Total current liabilities	164,936	129,339
Deferred revenue	10,792	9,140
Convertible senior notes, net	490,370	425,345
Operating lease liabilities	27,380	32,591
Other liabilities	13,050	9,545
Total liabilities	706,528	605,960
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests	23,988	12,888
Stockholders’ equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2022 and 2021	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized; 50,985,454 and 50,406,606 shares issued; and 49,452,709 and 50,259,453 shares outstanding as of December 31, 2022 and 2021, respectively	510	504
Additional paid-in capital	497,199	498,979
Treasury stock, at cost; 1,532,745 and 147,153 shares as of December 31, 2022 and 2021, respectively	(83,993)	(5,149)
Retained earnings	185,143	118,833
Total stockholders’ equity	598,859	613,167
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$ 1,329,375	$ 1,232,015

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2,835	$ 2,168
Allowance for product returns, current	1,551	1,181
Other assets, allowance for credit loss, current	0	2
Other assets, allowance for credit loss	$ 2	$ 78
Preferred stock, par value (USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	50,985,454	50,406,606
Common stock, shares outstanding (in shares)	49,452,709	50,259,453
Treasury stock, shares repurchased (in shares)	1,532,745	147,153

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 55,631,000	$ 51,175,000	$ 76,660,000
Adjustments to reconcile net income to net cash flows from operating activities:
Provision for / (recovery of) credit losses on accounts receivable	1,156,000	(775,000)	2,162,000
Reserve for product returns	4,746,000	2,494,000	1,795,000
Recovery of credit losses on notes receivable	(78,000)	(9,000)	(359,000)
Provision for excess and obsolete inventory	0	448,000	1,451,000
Amortization on patents and tooling	1,359,000	1,240,000	882,000
Amortization and depreciation	30,870,000	29,715,000	27,520,000
Amortization of debt discount and debt issuance costs	3,126,000	15,823,000	108,000
Amortization of operating leases	10,499,000	9,692,000	8,888,000
Deferred income taxes	(55,039,000)	(10,115,000)	(3,256,000)
Change in fair value of contingent liability	0	0	(2,595,000)
Stock-based compensation	52,654,000	38,694,000	29,176,000
Acquired in-process research and development	0	0	3,297,000
Gain on sale of investment	0	0	(24,737,000)
(Gain on) / impairment of investment or intangible assets	(140,000)	86,000	(676,000)
Loss on early extinguishment of debt	0	185,000	0
Changes in operating assets and liabilities (net of business acquisitions):
Accounts receivable	(24,346,000)	(23,941,000)	(10,098,000)
Inventory	(40,308,000)	(31,443,000)	(10,647,000)
Other current and non-current assets	(8,952,000)	(11,912,000)	(2,683,000)
Accounts payable, accrued expenses and other current liabilities	32,938,000	39,418,000	13,781,000
Deferred revenue	3,428,000	2,308,000	2,031,000
Operating lease liabilities	(12,723,000)	(11,809,000)	(10,177,000)
Other liabilities	2,080,000	1,883,000	(443,000)
Cash flows from operating activities	56,901,000	103,157,000	102,080,000
Cash flows used in investing activities:
Business acquisition, net of cash acquired	(31,730,000)	0	(26,299,000)
Additions to property and equipment	(28,640,000)	(11,062,000)	(16,141,000)
Purchases of in-process research and development	0	0	(3,297,000)
Issuances of notes receivable	(3,000,000)	0	(1,200,000)
Receipt of payments on notes receivable	61,000	59,000	2,026,000
Purchase of investment in unconsolidated entity	(5,150,000)	(5,000,000)	0
Proceeds from sale of investment	140,000	0	25,687,000
Purchases of patents, patent licenses and developed technology	0	(4,362,000)	(1,050,000)
Cash flows used in investing activities	(68,319,000)	(20,365,000)	(20,274,000)
Cash flows (used in) / from financing activities:
Proceeds from credit facility	0	0	50,000,000
Repayments of credit facility	0	(110,000,000)	(3,000,000)
Proceeds from issuance of convertible senior notes	0	500,000,000	0
Payments of debt issuance costs	0	(15,698,000)	0
Payments of deferred consideration for business acquisitions	(1,500,000)	(1,160,000)	(1,538,000)
Purchases of treasury stock	(78,844,000)	0	(5,149,000)
Payments of tax withholdings related to vesting of restricted stock units	0	(4,476,000)	0
Issuances of common stock from equity-based plans	4,020,000	5,704,000	11,711,000
Cash flows (used in) / from financing activities	(76,324,000)	374,370,000	52,024,000
Net (decrease) / increase in cash, cash equivalents and restricted cash	(87,742,000)	457,162,000	133,830,000
Cash, cash equivalents and restricted cash at beginning of the period	710,621,000	253,459,000	119,629,000
Cash, cash equivalents and restricted cash at end of the period	622,879,000	710,621,000	253,459,000
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	622,165,000	710,621,000	253,459,000
Restricted cash included in other current assets and other assets	714,000	0	0
Total cash, cash equivalents and restricted cash	622,879,000	710,621,000	253,459,000
Supplemental disclosures:
Cash paid for interest	0	114,000	2,427,000
Cash paid for income taxes, net of refunds	7,453,000	4,146,000	7,369,000
Noncash investing and financing activities:
Cash not yet paid for capital expenditures	1,047,000	1,082,000	2,020,000
Cash not yet paid for business and asset acquisitions - holdback	$ 4,833,000	$ 850,000	$ 1,017,000

Consolidated Statements of Equity - USD ($)	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Retained Earnings / (Accumulated Deficit)	Retained Earnings / (Accumulated Deficit) Cumulative Effect, Period of Adoption, Adjustment
Beginning balance at Dec. 31, 2019	$ 11,210,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion adjustments of redeemable noncontrolling interest to redemption value	674,000
Net income / (loss) attributable to common stockholders	(1,193,000)
Ending balance at Dec. 31, 2020	10,691,000
Balance (in shares) at Dec. 31, 2019			0
Balance at Dec. 31, 2019	355,651,000	$ (816,000)	$ 0	$ 487,000	$ 365,627,000		$ 0	$ (10,463,000)	$ (816,000)
Balance (in shares) at Dec. 31, 2019				48,701,000
Balance (in shares) at Dec. 31, 2019							0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued in connection with equity based plans (in shares)				930,000
Common stock issued in connection with equity-based plans	$ 11,711,000			$ 9,000	11,702,000
Purchases of treasury stock (in shares)	147,153						147,000
Purchases of treasury stock	$ (5,149,000)						$ (5,149,000)
Stock-based compensation expense	29,176,000				29,176,000
Accretion adjustments of redeemable noncontrolling interest to redemption value	(674,000)				(674,000)
Net income / (loss) attributable to common stockholders	77,853,000							77,853,000
Balance (in shares) at Dec. 31, 2020			0
Balance at Dec. 31, 2020	$ 467,752,000		$ 0	$ 496,000	405,831,000		$ (5,149,000)	66,574,000
Balance (in shares) at Dec. 31, 2020				49,631,000
Balance (in shares) at Dec. 31, 2020							147,000
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06 [Member]
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion adjustments of redeemable noncontrolling interest to redemption value	$ 3,281,000
Net income / (loss) attributable to common stockholders	(1,084,000)
Ending balance at Dec. 31, 2021	12,888,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued in connection with equity based plans (in shares)				776,000
Common stock issued in connection with equity-based plans	$ 5,704,000			$ 8,000	5,696,000
Purchases of treasury stock (in shares)	0
Purchases of treasury stock	$ 0
Tax withholdings related to vesting of restricted stock units	(4,476,000)				(4,476,000)
Stock-based compensation expense	38,694,000				38,694,000
Equity component of convertible senior notes, net	56,515,000				56,515,000
Accretion adjustments of redeemable noncontrolling interest to redemption value	(3,281,000)				(3,281,000)
Net income / (loss) attributable to common stockholders	$ 52,259,000							52,259,000
Balance (in shares) at Dec. 31, 2021	0		0
Balance at Dec. 31, 2021	$ 613,167,000	$ (46,543,000)	$ 0	$ 504,000	498,979,000	$ (56,515,000)	$ (5,149,000)	118,833,000	$ 9,972,000
Balance (in shares) at Dec. 31, 2021	50,259,453			50,407,000
Balance (in shares) at Dec. 31, 2021	147,153						147,000
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06 [Member]
Increase (Decrease) in Temporary Equity [Roll Forward]
Noncontrolling interest assumed through acquisition	$ 6,770,000
Accretion adjustments of redeemable noncontrolling interest to redemption value	5,037,000
Net income / (loss) attributable to common stockholders	(707,000)
Ending balance at Dec. 31, 2022	23,988,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued in connection with equity based plans (in shares)				578,000
Common stock issued in connection with equity-based plans	$ 4,020,000			$ 6,000	4,014,000
Purchases of treasury stock (in shares)	1,385,592						1,386,000
Purchases of treasury stock	$ (78,844,000)						$ (78,844,000)
Stock-based compensation expense	52,654,000				52,654,000
Reclassification of subsidiary long-term incentive plan liability related to modification	3,104,000				3,104,000
Accretion adjustments of redeemable noncontrolling interest to redemption value	(5,037,000)				(5,037,000)
Net income / (loss) attributable to common stockholders	$ 56,338,000							56,338,000
Balance (in shares) at Dec. 31, 2022	0		0
Balance at Dec. 31, 2022	$ 598,859,000		$ 0	$ 510,000	$ 497,199,000		$ (83,993,000)	$ 185,143,000
Balance (in shares) at Dec. 31, 2022	49,452,709			50,985,000
Balance (in shares) at Dec. 31, 2022	1,532,745						1,533,000

Organization	12 Months Ended
Organization	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	OrganizationAlarm.com Holdings, Inc. (referred to herein as Alarm.com, the Company, or we) is the leading platform for the intelligently connected property. 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. Our solutions are delivered through an established network of trusted service provider partners, 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 derive revenue from the sale of our cloud-based Software-as-a-Service, or SaaS, services, license fees, software, hardware, activation fees and other revenue. Our fiscal year ends on December 31.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Principles of Consolidation

Our consolidated financial statements include our accounts and those of our majority-owned and controlled subsidiaries after elimination of intercompany accounts and transactions. Equity investments over which we are able to exercise significant influence but do not control the investee are accounted for using the equity method.

We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity, or VIE. Voting interest entities are entities that have sufficient equity and provide equity investor voting rights that give them power to make significant decisions relating to the entity’s operations. The usual condition for a controlling financial interest in a voting interest entity is ownership of a majority voting interest. In VIEs, a controlling financial interest is attained through means other than voting rights and the entities lack one or more of the characteristics of a voting entity.

We have unconsolidated equity investments in third-party businesses. Equity investments with readily determinable fair values are recorded at fair value. Equity investments without readily determinable fair values are recorded using the measurement alternative. Under the measurement alternative, we measure investments without readily determinable fair values at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments. We make a separate election to use the measurement alternative for each eligible investment, and reassess whether an investment qualifies for the alternative at each reporting period. Adjustments resulting from impairment, fair value or observable price changes are recorded in other (expense) / income, net in our consolidated statements of operations.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. As of the date of issuance of these financial statements, we are not aware of any specific event or circumstance that would require us to update our estimates, assumptions and judgments or revise the carrying value of our assets or liabilities. However, our estimates, judgments and assumptions are continually evaluated based on available information and experience and may change as new events occur and additional information is obtained. The global economy, credit markets and financial markets have and may continue to experience significant volatility as a result of significant worldwide events, including public health crises, such as the COVID-19 pandemic, and geopolitical upheaval, such as Russia’s incursion into Ukraine (collectively, the Macroeconomic Conditions). These Macroeconomic Conditions have and may continue to create supply chain disruptions, inventory disruptions, and fluctuations in economic growth, including fluctuations in employment rates, inflation, energy prices and consumer sentiment. In particular, the COVID-19 pandemic also disrupted and may intermittently continue to disrupt our sales channels due to restrictions imposed from time to time on our service providers’ ability to meet with residential and commercial property owners who use our solutions. It remains difficult to assess or predict the ultimate duration and economic impact of the Macroeconomic Conditions including, the path of the COVID-19 pandemic, the evolution of COVID-19 variants or the emergence of other public health crises. Because of the use of estimates inherent in the financial reporting process and in light of the continuing uncertainty arising from the Macroeconomic Conditions, actual results could differ from those estimates and any such differences may be material. Estimates are used when accounting for revenue recognition, allowances for credit losses, allowance for hardware returns, estimates of obsolete inventory, long-term incentive compensation, the lease term and incremental borrowing rates for leases, stock-based compensation, income taxes, legal reserves, fair value of the debt component of convertible notes, goodwill, intangible assets and other long-lived assets.

Reclassifications

Certain previously reported amounts in the income taxes footnote for the year ended December 31, 2020 have been reclassified to conform to our current presentation, including the removal of the change in tax rate line of the reconciliation between the federal statutory rate and the effective income tax rate.

Cash and Cash Equivalents

We consider all highly liquid instruments purchased with an original maturity from the date of purchase of three months or less to be cash equivalents. As of December 31, 2022 and 2021, we have invested $510.3 million and $679.3 million in cash equivalents in the form of money market funds with one financial institution, respectively. We consider these money market funds to be Level 1 financial instruments (see Note 10).

Accounts Receivable

Accounts receivable are principally derived from sales to customers located in the United States and Canada. Substantially all of our sales in Canada are transacted in U.S. dollars. Revenue in countries outside of North America accounted for 4%, 3% and 3% of our total revenue for the years ended December 31, 2022, 2021 and 2020, respectively. Accounts receivable balances related to service providers partners outside of North America were 5% and 4% as of December 31, 2022 and 2021, respectively. Our accounts receivable are stated at estimated realizable value.

Restricted Cash

We consider all cash reserved for a specific use and not available for immediate or general business use to be restricted cash. As of December 31, 2022, we had a total of $0.7 million of restricted cash, of which less than $0.1 million was included in other current assets and $0.7 million was included in other assets within our consolidated balance sheets. We had no restricted cash as of December 31, 2021.

Notes Receivable

Notes receivable are presented net of an allowance for uncollectibility, if any. We accrue interest on notes receivable based on the contractual terms of the note. Outstanding notes receivable that are aged 30 days or more from the contractual payment date are considered past due. Notes receivable are evaluated for impairment at least quarterly. Impairment occurs when it is deemed probable that we will not be able to collect all amounts due according to the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value and the probability of collecting payments when due. See Note 9 for further details on loans provided to one of our distribution partners, technology partners, suppliers and service provider partners.

Credit Losses

The allowance for credit losses is a valuation account that is deducted from the accounts receivable and notes receivable amortized cost basis to present the net amount expected to be collected. We estimate the allowance balance by applying the loss-rate method using relevant available information from internal and external sources, including historical write-off activity, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes in economic conditions, such as changes in unemployment rates. We use projected economic conditions over a period no more than twelve months based on data from external sources. For periods beyond the twelve-month reasonable and supportable forecast period, we revert to historical loss information immediately.

The allowance for credit losses is measured on a pooled basis when similar risk characteristics exist. When assessing whether to measure certain financial assets on a pooled basis, we considered various risk characteristics, including the financial asset type, size and the historical or expected credit loss pattern. These risk characteristics are relevant to accounts receivable and notes receivable. We identified the following two portfolio segments for our accounts receivable: (i) outstanding accounts receivable balances within Alarm.com and certain subsidiaries and (ii) outstanding accounts receivable balances within all other subsidiaries. We identified the following two portfolio segments for our notes receivable: (i) loan receivables and (ii) hardware financing receivables. There were no changes to our portfolio segments during the years ended December 31, 2022 and 2021, and no changes to our policies or practices involving the issuance of notes receivable, customer acquisitions or any other factors that influenced our estimate of expected credit losses. Additionally, there were no significant changes in the amount of accounts receivable or notes receivable write-offs during the year ended December 31, 2022 as compared to historical periods other than a partial accounts receivable write-off of $0.7 million related to one of our distribution partners' outstanding balance during the year ended December 31, 2021. There were no purchases or sales of financial assets during the years ended December 31, 2022 and 2021. There were no hardware financing receivables outstanding as of December 31, 2022.

Expected credit losses are estimated over the contractual term of the financial assets and we adjust the term for expected prepayments when appropriate. For the years ended December 31, 2022 and 2020 we recorded credit loss expense of $0.8 million and $1.7 million in general and administrative expense in our consolidated statements of operations, respectively. For the year ended December 31, 2021, we recorded a reduction to credit loss expense of $1.0 million in general and administrative expense in our consolidated statements of operations. The contractual term excludes expected extensions, renewals and modifications because extension and renewal options are unconditionally cancelable by us. Write-offs of the amortized cost basis are recorded to the allowance for credit losses. Any subsequent recoveries of previously written off balances are recorded as a reduction to credit loss expense.

We do not accrue interest on notes receivable that are considered impaired or are 90 days or greater past due based on their contractual payment terms. Notes receivable that are 90 days or greater past due are placed on nonaccrual status. Notes receivable may be placed on nonaccrual status earlier if, in management’s opinion, a timely collection of the full principal and interest becomes uncertain. After a note receivable has been placed on nonaccrual status, interest will be recognized when cash is received. A note receivable may be returned to accrual status after all of the customer’s delinquent balances of principal and interest have been settled, and collection of all remaining contractual amounts due is reasonably assured. We have elected not to measure an allowance for credit losses for accrued interest receivables. We write-off any accrued interest on notes receivable that are considered impaired or are 90 days or greater past due based on their contractual payment terms by reversing interest income. The accrued interest receivable as of December 31, 2022 and 2021 was less than $0.1 million and is reflected in other current assets within our consolidated balance sheets and excluded from the amortized cost basis of the notes receivable. We did not write-off any accrued interest receivable during the years ended December 31, 2022, 2021 and 2020.

Inventory

Our inventory, which is comprised of raw materials and finished goods, includes materials used to produce our wireless communications network enabled radios, video cameras, video recorders, gunshot detection sensors, home automation system parts and peripherals, is stated at the lower of cost or net realizable value, and is charged to cost of sales primarily on a first in, first out, or FIFO, basis when the inventory is shipped from our manufacturer and received by our service provider partners. We periodically evaluate our inventory quantities for obsolescence based on criteria such as customer demand and changing technology and record an obsolescence write-off when necessary.

Leases

We determine if an arrangement contains a lease at the inception of the arrangement. As part of the lease determination process, we assess several factors, including, but not limited to, whether we have the right to control and direct the use of the asset and whether the other party has a substantive substitution right. If we enter into leases that contain multiple components, we identify separate lease components based on whether or not the right to use the underlying assets is distinct and either highly dependent or highly interrelated with other rights in the contract. We also evaluate whether there are any non-lease components in the arrangement. For certain classes of underlying assets, such as data centers, we have elected not to separate non-lease components from lease components. For all other classes of underlying assets, if separate lease and non-lease components are identified, we allocate the consideration in the contract to the lease and non-lease components using the relative stand-alone selling price method at the lease inception.

Many of our leases include options to renew at our sole discretion. We also have several leases that provide us an option to terminate the lease prior to the end of the lease term. These renewal and termination options are included in the lease term at the commencement date when we are reasonably certain the options will be exercised. When assessing the likelihood of electing these options, we consider the length of the renewal period, market conditions, our expansion plans, the existence of a termination penalty, as well as other factors. Our lease agreements do not contain any material residual value guarantees, restrictive covenants or variable lease payments.

Right-of-use, or ROU, assets represent our right to use an underlying asset for the term of the lease and lease liabilities represent our obligation to make lease payments throughout the term of the lease. ROU assets and lease liabilities are recognized as of the commencement date of the lease based on the present value of contractual lease payments due over the term of the lease. We use our incremental borrowing rate to determine the present value of the lease payments, as our leases do not state the rate implicit in the lease. Our incremental borrowing rate is determined on a collateralized basis at the commencement date of the lease.

ROU assets and lease liabilities resulting from operating leases are recorded on our consolidated balance sheets. We did not have any finance leases or subleases as of December 31, 2022 and 2021.

Lease expense is recognized on a straight-line basis over the term of the lease and is recorded in general and administrative expense. Some of our leases include tenant improvement allowances, which are recorded when we are reasonably certain to utilize the allowance and are amortized on a straight-line basis over the shorter of the lease terms or the asset lives. Leases with an initial lease term of twelve months or less are considered short-term leases. Short-term leases are

not recorded on our consolidated balance sheets. Expenses associated with short-term leases are recognized on a straight-line basis over the term of the lease and are recorded in general and administrative expense. Short-term lease costs were immaterial for the years ended December 31, 2022 and 2021.

Convertible Senior Notes

On January 20, 2021, we issued $500.0 million aggregate principal amount of 0% convertible senior notes due January 15, 2026 in a private placement to qualified institutional buyers, or the 2026 Notes. Prior to the January 1, 2022 adoption of Accounting Standards Update, or ASU, 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity," we separated the 2026 Notes into liability and equity components. In accounting for the issuance of our convertible senior notes, the carrying amount of the liability component was calculated by measuring the fair value of a similar liability that did not have an associated convertible feature, using a discounted cash flow model with a risk adjusted yield. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the 2026 Notes as a whole. This difference between the aggregate principal amount and the liability component represented a debt discount that was amortized to interest expense using the effective interest method over the term of the notes. Transaction costs attributable to the liability component were netted with the liability component and amortized to interest expense using the effective interest method over the term of the 2026 Notes. Transaction costs attributable to the equity component were netted with the equity component of the notes in additional paid-in capital in the consolidated balance sheets. The equity component was not remeasured as long as it continued to meet the conditions for equity classification.

See the Recent Accounting Pronouncements section below within Note 2 for details on the adoption of ASU 2020-06 and the impact the adoption had on our consolidated financial statements.

Redeemable Noncontrolling Interests

Noncontrolling interests with redemption features that are not solely within our control are considered redeemable noncontrolling interests. Our redeemable noncontrolling interests relate to our 85% equity ownership interest in PC Open Incorporated, a Washington corporation, doing business as OpenEye and our 85% equity ownership interest in Noonlight, Inc., or Noonlight, a Delaware corporation (see Note 7). The OpenEye and Noonlight stockholder agreements contain a put option that gives the minority stockholders the right to sell their shares to us based on the fair value of the shares and also contain a call option that gives us the right to purchase the remaining shares from the minority stockholders based on the fair value of the shares. The put and call options related to OpenEye can each be exercised beginning in the first quarter of 2023. The put and call options related to Noonlight can each be exercised beginning in the first quarter of 2026. These redeemable noncontrolling interests are considered temporary equity and we report them between liabilities and stockholders’ equity in the consolidated balance sheets. The amount of the net income or loss attributable to the redeemable noncontrolling interests are recorded in the consolidated statements of operations and the accretion of the redemption values are recorded as an adjustment to additional paid-in capital. The aggregate redemption values of the of the noncontrolling interest was $24.0 million and $12.9 million as of December 31, 2022 and 2021.

Internal-Use Software

We capitalize the costs directly related to the development of internal-use software for our platforms during the application development stage of the projects. Such costs primarily include payroll and payroll-related costs for engineers and product development employees directly associated with the development project. Our internal-use software is reported at cost less accumulated depreciation. Depreciation begins once the project is ready for its intended use, which is usually when the code goes into production in weekly software builds on our platforms. We depreciate the asset on a straight-line basis over a period of three years, which is the estimated useful life. We update our software for our SaaS multi-tenant platforms on a weekly basis utilizing continuous agile development methods, which primarily consists of bug-fixes and user interface changes. We evaluate whether a project should be capitalized if it adds significant functionality to our platforms. Maintenance activities or minor upgrades are expensed in the period performed.

External Software

Costs incurred in researching and developing a computer software product that will be marketed and sold are charged to expense when incurred until technological feasibility is established. Technological feasibility is established upon completion of a detailed program design or, in its absence, completion of a working model. After technological feasibility is established, certain payroll and payroll-related costs are capitalized for engineers and product development employees directly associated with the development project. Cost capitalization ceases when the product is available for general release. Our non-hosted software is typically developed in an agile environment with frequent revisions to product release features and functions. Agile development results in a short duration between completion of the detailed program design and beta release. Accordingly, as of December 31,

2022 and 2021, we did not have any capitalized external software due to the shorter development cycle associated with agile development.

Revenue Recognition

We derive our revenue from three primary sources: the sale of cloud-based SaaS services on our integrated Alarm.com platform, the sale of licenses and services on our non-hosted software platform, or Software platform, and the sale of hardware products. We sell our platform and hardware solutions to service provider partners that resell our solutions and hardware to residential and commercial property owners, who are the service provider partners’ customers. Our subscribers consist of all of the properties maintained by those residential and commercial property owners to which we are delivering at least one of our solutions. We also sell our hardware to distributors who resell the hardware to service provider partners. We enter into contracts with our service provider partners that establish pricing for access to our platform solutions and for the sale of hardware. These service provider contracts typically have an initial term of one year, with subsequent renewal terms of one year. 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 hardware includes cellular radio modules that enable access to our cloud-based platforms, as well as video cameras, video recorders, image sensors, gunshot detection sensors and other peripherals. Our service provider partners may purchase our hardware in anticipation of installing the hardware in a residential or commercial property when they create a new subscriber account, or for use in existing subscriber properties. The purchase of hardware occurs in a transaction that is separate and typically in advance of the purchase of our platform services. The performance obligation is primarily satisfied when the hardware is received by our service provider partner or distributor. Service provider partners transact with us to purchase our platform solutions and resell our solutions to a new subscriber, or to upgrade or downgrade the solutions of an existing subscriber, at which time the subscriber’s access to our platform solutions is enabled and the delivery of the services commences. Our performance obligation related to providing our platform solutions is satisfied on a daily basis as the subscriber uses the platform services. The purchase of platform solutions and the purchase of hardware are separate transactions as revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. We generate all of our revenue from contracts with customers.

SaaS and license revenue associated with our contracts is invoiced and revenue is recognized at an amount that corresponds directly with the value of the performance completed to date. Additionally, the consideration received from hardware sales corresponds directly with the stand-alone selling price of the hardware. As a result, we have elected to use the practical expedient related to the amount of transaction price allocated to the unsatisfied performance obligations and therefore, we have not disclosed the total remaining revenue expected to be recognized on all contracts or the expected period over which the remaining revenue would be recognized.

To determine the transaction price, we analyze all of the performance obligations included in the contract. We consider the terms of the contract and our customary business practices, which typically do not include financing components or non-cash consideration. We have variable consideration in the form of retrospective volume discounts, rebate incentives and restocking fees. The significant inputs related to our estimates of variable consideration include the volume and amount of products and services sold historically and expected to be sold in the future, the availability and performance of our services and the historical and expected number of returns. Depending on the type of variable consideration and its predictability, we may apply an "expected value" approach or a "most likely amount" approach. We estimate the variable consideration at the onset of a contract and include the variable consideration within the transaction price if it is probable that a significant reversal of the variable consideration would not occur in the future. When determining whether the amount of variable consideration included in the transaction price should be constrained, we look at the history of hardware purchased and subscribers added by our service provider partners to estimate the likelihood of those service provider partners obtaining the retrospective volume discounts and rebates. At times, our contracts include consideration payable to a customer in the form of fixed discounts or rebates. We record the consideration payable to a customer as a reduction to the transaction price resulting in a reduction to revenue over the service period.

If we enter into contracts that contain multiple promised services, we evaluate which of the promised services represent separate performance obligations based on whether or not the promised services are distinct and whether or not the services are separable from other promises in the contract. If these criteria are met, then we allocate the transaction price to the performance obligations using the relative stand-alone selling price method at contract inception.

In determining the relative estimated selling prices, we consider market conditions, entity-specific factors and information about the customer or class of customer. Any discount within the contract is allocated proportionately to all of the separate performance obligations in the contract unless the terms of discount relate specifically to the entity’s efforts to satisfy some but not all of the performance obligations.

For our standard service provider agreements, we have used a portfolio approach for purposes of revenue recognition, as each agreement has similar characteristics and we do not expect the effects of applying this approach would have a material impact on our financial statements as compared to assessing each agreement individually.

SaaS and License Revenue

We generate the majority of our SaaS and license revenue primarily from monthly fees charged to our service provider partners sold on a per subscriber basis for access to our cloud-based intelligently connected property platform and related solutions. Our fees per subscriber vary based upon the service plan and features utilized.

Under the terms of our contractual arrangements with our service provider partners, we bill a monthly fee to our service provider partners in advance of the month of service, with the exception of the initial partial month of service, which is paid in arrears. Due to the limited period of time between receipt of payment and delivery of service, we have not accounted for these advance payments as significant financing components. We typically transfer the promised SaaS services to our customers over time, which is evidenced by the fact that the customers receive and consume the benefits provided by our performance of the services as such services are rendered. As a result, we recognize revenue from SaaS services on a monthly basis as we satisfy our performance obligations over the period of service. We have demonstrated that we can sell our SaaS offering on a stand-alone basis, as it can be sold separately from hardware and activation services. Our service provider partners typically incur and pay the same monthly fee per subscriber account for the entire period a subscriber account is active.

We offer multiple service level packages for our platform solutions including a range of solutions and a range of a la carte add-ons for additional features. The fee paid by our service provider partners each month for the delivery of our solutions is based on the combination of packages and add-ons enabled for each subscriber. We utilize tiered pricing plans where our service provider partners may receive prospective pricing discounts driven by volume.

We also generate SaaS and license revenue from the fees paid to us when we license our intellectual property to third parties for use of our patents. We bill a monthly fee to third parties based on the number of customers that were active during the prior month. We apply the usage-based royalty exception to recognize license revenue because the sole or predominant item to which the royalty relates is the license of intellectual property. Under the usage-based royalty exception, we recognize revenue on a monthly basis over the period of service. In addition, in certain markets, our EnergyHub subsidiary sells its demand response service for an annual service fee, with pricing based on the number of subscribers or amount of aggregate electricity demand made available for a utility’s or market’s control.

Software License Revenue

Our SaaS and license revenue also includes our software license revenue from monthly fees charged to service providers on a per subscriber basis for access to our Software platform. The non-hosted software for interactive security, automation and related solutions is typically deployed and operated by the service provider in its own network operations center. Our agreements for the Software platform solution typically include software and services, such as post-contract customer support, or PCS. Software sales that include multiple elements are typically allocated to the various elements using the relative stand-alone selling price method. We apply the usage-based royalty exception to recognize license revenue associated with software hosted by our customers because the predominant item to which the royalty relates is the license of intellectual property. Under the usage-based royalty exception, we recognize revenue on a monthly basis over the period during which the services are expected to be performed. Under the terms of our contractual arrangements with our service provider partners, we are entitled to payment of a monthly fee that is billed per subscriber for the month of service. Our software license revenue during the years ended December 31, 2022, 2021 and 2020 was $26.8 million, $32.3 million and $38.0 million, respectively.

Hardware and Other Revenue

We generate hardware and other revenue primarily from the sale of video cameras, video recorders and cellular radio modules that provide access to our cloud-based platforms and, to a lesser extent, the sale of other devices, including image sensors, gunshot detection sensors and other peripherals. We primarily transfer hardware to our customers upon delivery to the customer, which corresponds with the time at which the customer obtains control of the hardware. As a result, we recognize hardware and other revenue as we satisfy our performance obligations, which primarily occurs when the hardware is received by our service provider partner or distributor, net of a reserve for estimated returns. There are a few contracts in which we provide shipping and handling services to the customer after control of the hardware transfers to the customer. In these instances, we have elected to account for shipping and handling costs as activities performed to fulfill the promise to transfer hardware to the customer and not as a separate promised service.

Amounts due from the sale of hardware are payable in accordance with the terms of our agreements with our service provider partners or distributors, and are not contingent on resale to end-users, or to service provider partners in the case of sales of hardware to distributors. Payment for our hardware is typically due within 30 days from shipment. Our distributors sell directly to our service provider partners under terms between the two parties.

When determining the amount of consideration we expect to be entitled to for the sale of our hardware, we estimate the variable consideration associated with customer returns. We record a reserve against revenue for hardware returns based on historical returns. For each of the years ended December 31, 2022, 2021 and 2020, our reserve against revenue for hardware returns was approximately 1% of hardware and other revenue. We evaluate our hardware reserve on a quarterly basis or if there is an indication of significant changes in return experience. Historically, our returns of hardware have not significantly differed from our estimated reserve. Additionally, we provide warranties related to the intended functionality of the products and services provided and those warranties typically allow for the return of hardware up to one year past the date of sale. We determined that these warranties are not separate performance obligations as they cannot be purchased separately and do not provide a service in addition to an assurance the hardware will function as expected.

Our hardware and other revenue also includes our revenue from the sale of perpetual licenses that provide our customers in the commercial market the right to use our OpenEye video surveillance software for an indefinite period of time in exchange for a one-time license fee, which is generally paid at contract inception. Our hardware and other revenue also includes our revenue from Shooter Detection Systems related to the sale of licenses that provide our customers the right to use our indoor gunshot detection solution in exchange for license fees, which are generally paid at contract inception. Our perpetual licenses and licenses to our indoor gunshot detection solution provide a right to use intellectual property that is functional in nature and has significant stand-alone functionality. Accordingly, for licenses of functional intellectual property, revenue is recognized at the point-in-time when control has been transferred to the customer, which occurs once the software has been made available to the customer.

Hardware and other revenue may also include activation fees charged to some of our service provider partners for activation of a new subscriber account on our platforms, as well as fees paid by service provider partners for our marketing services. Our service provider partners use services on our platforms, such as support tools and applications, to assist in the installation of our solutions in subscriber properties. This installation marks the beginning of the service period on our platforms and, on occasion, we earn activation revenue for fees charged for this service. The activation fee is non-refundable, separately negotiated and specified in our contractual arrangements with our service provider partners and is charged to the service provider partner for each subscriber activated on our platforms. The decision whether to charge an activation fee is based in part on the expected number of subscribers to be added by our service provider partners and as a result, many of our largest service provider partners do not pay an activation fee. Activation fees are not offered on a stand-alone basis separate from our SaaS offering and are billed and received at the beginning of the arrangement. We record activation fees initially as deferred revenue and we recognize these fees ratably over the expected term of the subscribers’ account which we estimate is 10 years based on our annual attrition rate. The portion of these activation fees included in current and long-term deferred revenue as of our balance sheet date represents the amounts that will be recognized ratably as revenue over the following twelve months, or longer as appropriate, until the ten-year expected term is complete. The balance of deferred revenue for activation fees was $5.3 million and $6.0 million as of December 31, 2022 and 2021, respectively, which combines current and long-term balances.

Cost of Revenue

Our cost of SaaS and license revenue primarily includes the amounts paid to wireless network providers and, to a lesser extent, the costs of running our network operations centers which are expensed as incurred, as well as patent and royalty costs in connection with technology licensed from third-party providers and amounts paid to distributed energy resource providers. Our cost of SaaS and license revenue also includes our cost of software license revenue, which primarily includes the payroll and payroll-related costs of the department dedicated to providing service exclusively to those service providers that host the Software platform. Our cost of software license revenue during the years ended December 31, 2022, 2021 and 2020 was $0.5 million, $1.1 million and $1.3 million, respectively. Our cost of hardware and other revenue primarily includes cost of raw materials, tooling, freight shipments and amounts paid to our third-party manufacturer for production and fulfillment of our cellular radio modules and image sensors, and procurement costs for our video cameras, video recorders and gunshot detection sensors, which we purchase from an original equipment manufacturer, and other devices. Additionally, our cost of hardware and other revenue includes royalty costs in connection with technology licensed from third-party providers.

We record the cost of SaaS and license revenue as expenses are incurred, which corresponds to the delivery period of our services to our subscribers. We record the cost of hardware and other revenue primarily when the hardware and other services are delivered to the service provider partner, which occurs when control of the hardware and other services transfers to the service provider partner. Our cost of revenue excludes amortization and depreciation shown in operating expenses.

Contract Asset and Contract Liability Balances

At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each distinct promise to transfer a good or service, or bundle of goods or services. To identify the performance obligations, we consider all of the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. We record a contract asset when we satisfy a performance obligation by transferring a promised good or service. Contract assets can be conditional or unconditional depending on whether another performance

obligation must be satisfied before payment can be received. We receive payments from our service provider partners based on the billing schedule established in our contracts. All of the accounts receivable presented in the consolidated balance sheets represent unconditional rights to consideration. We do not have any assets from contracts containing conditional rights and we do not have any assets from satisfied performance obligations that have not been invoiced.

We recognize an asset related to the costs incurred to obtain a contract only if we expect to recover those costs and we would not have incurred those costs if the contract had not been obtained. We recognize an asset from the costs incurred to fulfill a contract if the costs (i) are specifically identifiable to a contract, (ii) enhance resources that will be used in satisfying performance obligations in future and (iii) are expected to be recovered. Our assets related to costs incurred to obtain a contract consist of capitalized commission costs and upfront payments made to a customer. Based on the policy above, we capitalize a portion of our commission costs as an incremental cost of obtaining a contract. When calculating the incremental cost of obtaining a contract, we exclude any commission costs related to metrics that could be satisfied without obtaining a contract, including training-related metrics. We amortize our commission costs over a period of three years, which is consistent with the period over which the products and services related to the commission are transferred to the customer. The three-year period was determined based on our review of historical enhancements and upgrades to our products and services. We applied the portfolio approach to account for the amortization of contract costs for those contracts that have similar characteristics. Upfront payments made to a customer are capitalized and amortized over the expected period of benefit and are recorded as a reduction to revenue.

Contract liabilities include payments received in advance of performance under the contract and are realized with the associated revenue recognized under the contract. All of the deferred revenue presented in the consolidated balance sheets represents contract liabilities resulting from advance cash receipts from customers or amounts billed in advance to customers from the sale of services. Changes in deferred revenue are due to our performance under the contract as well as to cash received from new contracts for which services have not been provided.

Research and Development

Our research and development costs consist primarily of personnel and related expenses for our employees working on our product development and software and device engineering teams, including salaries, bonuses, stock-based compensation, benefits and other personnel costs. Our research and development of new products and services is a multidisciplinary effort across our product management, program management, software engineering, device engineering, quality engineering, configuration management and network operations teams. Also included are non-personnel costs, such as consulting and professional fees paid to third-party development resources as well as acquisition costs of in-process research and development with no alternative future use. We invest substantial resources in research and development to enhance our platforms and applications, support our technology infrastructure, develop new capabilities and conduct quality assurance testing.

Fair Value Measurements

The accounting standard for fair value measurements provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. This accounting standard established a fair value hierarchy, which requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date;

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for similar assets and liabilities, either directly or indirectly; quoted prices in markets that are not active; and

Level 3 - Unobservable inputs supported by little or no market activity.

The carrying amount of financial assets, including cash and cash equivalents and accounts receivable, as well as accounts payable approximates fair value because of the short maturity and liquidity of those instruments.

Assets and Liabilities Measured at Fair Value on a Recurring Basis - In 2022 and 2021, we recorded assets for our money market accounts. In 2021 and prior to the termination of the long-term incentive plan with one of our subsidiaries in May 2022, we recorded liabilities for the long-term incentive plan at fair value on a recurring basis with any changes recorded as a cumulative adjustment. During parts of 2020, we recorded liabilities for a contingent consideration liability related to acquisitions at fair value on a recurring basis.

Assets Measured at Fair Value on a Nonrecurring Basis - We measure certain assets, including property and equipment, goodwill and intangible and long-lived assets at fair value on a nonrecurring basis. These assets are recognized at fair value

when they are deemed to be other-than-temporarily impaired. Additionally, equity investments without readily determinable fair values are recognized at fair value on a nonrecurring basis when observable price changes from orderly transactions for identical or similar investments become available.

Concentration of Credit Risk

The financial instruments that potentially subject us to concentrations of credit risk consists principally of cash and cash equivalents and accounts receivables. All of our cash and cash equivalents are held at financial institutions that management believes to be of high credit quality. Our cash and cash equivalent accounts may exceed federally insured limits at times. We have not experienced any losses on cash and cash equivalents to date. To manage accounts receivable risk, we evaluate the credit worthiness of our service provider partners and maintain an allowance for credit losses. The majority of our accounts receivable balance is due from our service provider partners in North America. We assess the concentrations of credit risk with respect to accounts receivables based on one industry and one geographic region and believe that our reserve for uncollectible accounts is appropriate based on our history and this concentration.

Stock-Based Compensation

We compensate our executive officers, board of directors, employees and consultants with stock-based compensation plans under our 2015 Equity Incentive Plan, or 2015 Plan. We record stock-based compensation expense related to time-based restricted stock units based upon the award’s grant date fair value and use an accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the service inception date to the vesting date for that tranche. We record stock-based compensation expense related to performance-based restricted stock units based on management’s determination of the probable outcome of the performance conditions and we record a cumulative adjustment in periods in which there is a change in the estimated number of shares expected to vest. Our equity awards generally vest over five years and are settled in shares of our common stock. During 2022, 2021 and 2020, we recognized compensation expense of $52.7 million, $38.7 million and $29.2 million, respectively, and associated tax windfall benefit from stock-based awards of $2.0 million, $10.1 million and $8.2 million, respectively. We account for stock-based compensation arrangements with non-employees based upon the award’s grant date fair value. We estimate the fair value of each option granted on the date of the grant using the Black-Scholes option-pricing model, which contains uncertainties and requires us to estimate the risk-free interest rate, expected term, expected stock price volatility and dividend yield. In prior years, we used the "simplified method" to calculate the expected term, which was presumed to be the mid-point between the vesting date and the end of the contractual term. Beginning upon the first grant of options in 2022, the expected term for options granted is estimated using our historical experience, including information related to options we have granted.

Our Employee Stock Purchase Plan, or 2015 ESPP, allows eligible employees to purchase shares of our common stock at 90% of the fair market value of the closing price on the purchase date. The maximum number of shares of our common stock that a participant may purchase during any calendar year is limited to the lesser of 10% of the participant's base compensation for that year or the number of shares with a fair market value of $15,000. The 2015 ESPP is considered compensatory for purposes of share-based compensation expense. Compensation expense is recognized for the amount of the discount, net of actual forfeitures, over the six-month purchase period.

401(k) Defined Contribution Plan

We adopted the Alarm.com Holdings 401(k) Plan, or the Plan, on April 30, 2009. All of our employees are eligible to participate in the Plan. For the years ended December 31, 2022, 2021 and 2020, our discretionary match was 100% of employee contributions up to 10% of salary and up to a $5,000 maximum match. We recognized compensation expense of $6.4 million, $5.5 million and $5.0 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to our matching contributions.

Business Combinations

We are required to allocate the purchase price of acquired companies to the identifiable tangible and intangible assets acquired and liabilities assumed at the acquisition date based upon their estimated fair values. The net assets and results of operations of an acquired entity are included in our consolidated financial statements from the acquisition date. Acquisition-related costs are expensed as incurred. Goodwill as of the acquisition date represents the excess of the purchase consideration of an acquired business over the fair value of the underlying net tangible and intangible assets acquired net of liabilities assumed. This valuation requires management to apply significant judgment in estimating the fair value of long-lived and intangible assets acquired, which involves the use of significant estimates and assumptions.

Significant estimates and assumptions in valuing certain acquired customer relationship intangible assets include estimates about future expected cash flows and discount rates. Significant estimates and assumptions in valuing acquired developed technology intangible assets include estimates about future expected cash flows, obsolescence factors and discount rates.

Significant estimates and assumptions in valuing acquired trade name intangible assets include estimates about future expected cash flows, royalty rates and discount rates.

During the measurement period, we may record adjustments to the assets acquired and liabilities assumed. Any adjustments to provisional amounts that are identified during the measurement period are recorded in the reporting period in which the adjustment amounts are determined. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.

Some acquisitions may include contingent consideration, which is an obligation to make future payments to the seller contingent upon the achievement of future operational or financial targets. We estimated the fair value of the contingent consideration liability by using a Monte Carlo simulation model for determining each of the projected measures by using an expected distribution of potential outcomes. Significant estimates and assumptions in valuing contingent consideration include estimates about future financial results, revenue volatility and the discount rate. The fair value of the contingent consideration is estimated on a quarterly basis and changes in the fair value of the contingent consideration resulting from information that existed subsequent to the acquisition date are recorded in the consolidated statements of operations.

On October 21, 2019, we acquired 85%of the issued and outstanding capital stock of OpenEye. Certain stockholders of OpenEye had the right to receive an earn-out payment of up to an additional $11.0 million based upon satisfaction of certain calendar 2020 revenue targets. The 2020 revenue targets were not met and the fair value of the contingent consideration liability related to the potential earn-out payment was zero as of December 31, 2022 and 2021.

Goodwill, Intangible Assets and Long-lived Assets

Goodwill

Goodwill represents the excess of (1) the aggregate of the fair value of consideration transferred in a business combination, over (2) the fair value of assets acquired, net of liabilities assumed. Goodwill is allocated to our reporting units, which are our operating segments or one level below our operating segments. Goodwill is not amortized, but is subject to annual impairment tests. We perform our annual impairment review of goodwill on October 1 and when a triggering event occurs between annual impairment tests. We test our goodwill at the reporting unit level. We perform either a qualitative analysis or a quantitative analysis every year depending on the changes to our goodwill balance as well as changes in our business and the economy. Qualitative factors we consider include, but are not limited to, macroeconomic conditions, industry and market conditions, company specific events, changes in circumstances and market capitalization. The amount of goodwill impairment is calculated as the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill.

For our 2022 annual impairment review, we performed a quantitative assessment for our Alarm.com reporting unit, our only reporting unit with a goodwill balance. Based on the results of our quantitative assessment, we determined that it was not more likely than not that the fair value of our reporting unit was less than its carrying amount, including goodwill. Therefore, we concluded that there was no goodwill impairment as of October 1, 2022. Our assessment was performed as of October 1, 2022, and we have determined there has been no triggering events that resulted in goodwill impairment from our assessment date through December 31, 2022.

Intangible Assets and Long-lived Assets

Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives. We evaluate the recoverability of our intangible assets with definite lives and long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability of intangible assets with definite lives and long-lived assets are measured by comparison of the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset.

For the years ended December 31, 2022 and 2020, we determined there were no impairments of our intangible assets with definite lives or other long-lived assets. For the year ended December 31, 2021, we determined there was an impairment of $0.1 million for an intangible asset acquired in 2014 related to customer relationships that no longer existed after December 31, 2021. There were no impairments of any other long-lived assets for the year ended December 31, 2021.

Advertising Costs

We expense advertising costs as incurred. Advertising costs totaled $6.1 million, $9.6 million and $11.9 million for the years ended December 31, 2022, 2021 and 2020, respectively. Advertising costs are included within sales and marketing expenses on our consolidated statements of operations.

Accounting for Income Taxes

We account for income taxes under the asset and liability method as required by accounting standards codification, or ASC 740, "Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that are included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. Due to the uncertainty of realization of certain deferred tax assets related to our Canadian net operating losses and research and development tax credits, we established a valuation allowance of $0.3 million during the second quarter of 2019, which remained at $0.3 million as of December 31, 2021 and, due to evidence indicating it was more likely than not that the Canadian tax attributes would be realized prior to expiration, the Canadian valuation allowance was reduced to zero as of December 31, 2022. During 2020, we established a valuation allowance of $1.3 million for state research and development tax credit carryforwards, which increased to $1.9 million as of December 31, 2021 and increased to $2.6 million as of December 31, 2022.

We are subject to income taxes in the United States and foreign jurisdictions based upon our business operations in those jurisdictions. Significant judgment is required in evaluating uncertain tax positions. We record uncertain tax positions in accordance with ASC 740-10 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position, and (2) with respect to those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. We record interest and penalties as a component of our income tax provision.

Treasury Stock

We account for treasury stock under the cost method and present treasury stock, including any applicable commissions and fees, as a component of stockholders’ equity in the consolidated balance sheets and statements of equity. Treasury stock held by us may be retired or reissued in the future.

Comprehensive Income

Our comprehensive income for each of the years ended December 31, 2022, 2021 and 2020 was equal to our net income disclosed in the consolidated statements of operations.

Earnings per Share

Our basic net income per share attributable to common stockholders is calculated by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Our diluted net income per share attributable to common stockholders is calculated by giving effect to all potentially dilutive common stock when determining the weighted-average number of common shares outstanding. For purposes of the diluted net income per share calculation, restricted stock units, options to purchase common stock and unvested shares issued upon the early exercise of options that are subject to repurchase are considered to be potential common stock.

On January 20, 2021, we issued the 2026 Notes. Prior to the adoption of ASU 2020-06, since we expected to settle the principal amount on our outstanding 2026 Notes in cash and any excess in cash or shares of our common stock, we used the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread had a dilutive impact on diluted net income per share of common stock when the average market price of our common stock for a given period exceeded the conversion price of $147.19 per share for the 2026 Notes.

Upon adoption of ASU 2020-06 on January 1, 2022, we began using the if-converted method when calculating the dilutive impact of the 2026 Notes on net income per share. As a result, we included 3,396,950 shares related to the 2026 Notes within the weighted average shares outstanding when calculating the diluted net income per share. Additionally, we included debt issuance cost amortization, net of tax, within the numerator of the diluted net income per share.

Our redeemable noncontrolling interests are related to our 85% equity ownership interest in OpenEye and Noonlight. When calculating net income attributable to the common stockholders, net loss attributable to our redeemable noncontrolling interests should be excluded from net income. As a result, net income attributable to the common stockholders is equal to the net income less (i) dividends paid on unvested shares with any remaining earnings allocated in accordance with the bylaws between the

outstanding common and preferred stock and (ii) net loss attributable to redeemable noncontrolling interests as of the end of each period.

Recent Accounting Pronouncements

Adopted

On August 5, 2020, the Financial Accounting Standards Board, or FASB, issued ASU 2020-06, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The new guidance eliminates two of the three models in Subtopic 470-20 that require separating embedded conversion features from convertible instruments. The guidance also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. The amendment in this update is effective for fiscal years beginning after December 15, 2021.

We adopted ASU 2020-06 effective January 1, 2022, using a modified retrospective adoption method, which required us to record the initial effect of this guidance as a cumulative-effect adjustment to retained earnings on January 1, 2022. Upon adoption of ASU 2020-06, we recombined the liability and equity components of the convertible senior notes assuming that the instrument was accounted for as only a liability from inception to the date of adoption. We also recombined the liability and equity components of the debt issuance costs. The issuance costs are presented as a deduction from the outstanding principal balance of the convertible senior notes and are amortized to interest expense using the effective interest method over the contractual term of the convertible senior notes. We also removed the temporary difference between the book and tax treatment of the debt discount and adjusted the temporary difference between the book and tax treatment of the debt issuance costs of the convertible senior notes. The adoption resulted in the recording of the following increases / (decreases) on our consolidated balance sheets (in thousands):


Balance Sheet Caption	As of January 1, 2022
Deferred tax assets	$	15,356
Additional paid-in capital	(56,515)
Convertible senior notes, net	61,899
Retained earnings	9,972

Our net income attributable to common stockholders increased $2.0 million and $8.1 million during the three and twelve months ended December 31, 2022, respectively, as a result of adopting ASU 2020-06 due to no longer recording non-cash interest expense related to the amortization of the debt discount associated with the previous equity component of the convertible senior notes. Upon adoption of this guidance on January 1, 2022, we began using the if-converted method when calculating the dilutive impact of the convertible senior notes on net income per share, which required us to increase our diluted weighted average common shares outstanding by 3,396,950 shares for the three and twelve months ended December 31, 2022. The impact of ASU 2020-06 on net income attributable to common stockholders and weighted average diluted shares resulted in an increase to basic net income attributable to common stockholders of $0.04 and $0.16 per share and an increase to diluted net income attributable to common stockholders of $0.03 and $0.13 per share during the three and twelve months ended December 31, 2022, respectively. See Note 16 for details on the components of basic and diluted earnings per share.

On March 31, 2022, the FASB issued ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures," which includes requirements to disclose current period gross write-offs by year of origination for financing receivables. The amendment in this update is effective for fiscal years beginning after December 15, 2022, including interim periods with those fiscal years. Early adoption is permitted, including adoption in an interim period. The guidance over disclosing current period gross write-offs by year of origination for financial receivables should be applied prospectively. We adopted this guidance during the three months ended March 31, 2022 and there was no impact to the disclosures within the "Allowance for Credit Losses - Notes Receivable" section of Note 9 as there were no write-offs of notes receivable during the year ended December 31, 2022.

On October 28, 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 606): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers," which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. Generally, this should result in an acquirer recognizing and measuring the acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements, if the acquiree prepared financial statements in accordance with GAAP. The amendment in this update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We adopted this guidance during the three months ended September 30, 2022 and the adoption did not have a material impact on our consolidated financial statements during the year ended December 31, 2022. Any future financial impact will be dependent on the magnitude and nature of future business combinations.

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Contract Assets

Our assets related to costs incurred to obtain a contract consist of capitalized commission costs and upfront payments made to customers. The current portion of capitalized commission costs and upfront payments made to customers is included in other current assets within our consolidated balance sheets. The non-current portion of capitalized commission costs and upfront payments made to customers is reflected in other assets within our consolidated balance sheets.

We review the capitalized costs for impairment at least annually. Impairment exists if the carrying amount of the asset recognized from contract costs exceeds the remaining amount of consideration we expect to receive in exchange for providing the goods and services to which such asset relates, less the costs that relate directly to providing those good and services and that have not been recognized as an expense. We did not record an impairment loss on our contract assets during the years ended December 31, 2022, 2021 and 2020.

The changes in our contract assets are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of period balance	$	4,520	$	4,306	$	4,578
Commission costs and upfront payments to a customer capitalized in period	14,270		3,779		3,262
Amortization of contract assets	(4,815)		(3,565)		(3,534)
End of period balance	$	13,975	$	4,520	$	4,306

Contract Liabilities

Contract liabilities include payments received in advance of performance under the contract and are realized with the associated revenue recognized under the contract. The changes in our contract liabilities are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of period balance	$	14,837	$	12,529	$	10,498
Revenue deferred and acquired in period	18,617		13,947		12,247
Revenue recognized from amounts included in contract liabilities	(15,122)		(11,639)		(10,216)
End of period balance	$	18,332	$	14,837	$	12,529

The revenue recognized from amounts included in contract liabilities primarily relates to prepayment contracts with customers as well as payments of activation fees.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 12
-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Property, Plant and Equipment [Abstract]

Accounts Receivable, Net

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Accounts Receivable, Net

The components of accounts receivable, net are as follows (in thousands):


	December 31,
	2022		2021
Accounts receivable	$	128,669	$	108,897
Allowance for credit losses	(2,835)		(2,168)
Allowance for product returns	(1,551)		(1,181)
Accounts receivable, net	$	124,283	$	105,548

For the years ended December 31, 2022 and 2020, we recorded a provision for credit losses on our accounts receivable of $1.2 million and $2.2 million, respectively. For the year ended December 31, 2021, we recorded a reduction to the provision for credit losses on our accounts receivable of $0.8 million.

For the years ended December 31, 2022, 2021 and 2020, we recorded a $4.7 million, $2.5 million and $1.8 million reserve for product returns in our hardware and other revenue, respectively. Historically, we have not experienced write-offs for uncollectible accounts or sales returns that have differed significantly from our estimates.

Allowance for Credit Losses - Accounts Receivable

The changes in our allowance for credit losses for accounts receivable are as follows (in thousands):


	Year Ended December 31, 2022				Year Ended December 31, 2021
	Alarm.com and Certain Subsidiaries		All Other Subsidiaries		Alarm.com and Certain Subsidiaries		All Other Subsidiaries
Beginning of period balance	$	(2,035)	$	(133)	$	(4,442)	$	(254)
(Provision for) / recovery of expected credit losses	(1,199)		43		860		(85)
Write-offs	479		10		1,547		206
End of period balance	$	(2,755)	$	(80)	$	(2,035)	$	(133)

Inventory

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventory

The components of inventory are as follows (in thousands):


	December 31,
	2022		2021
Raw materials	$	38,098	$	15,823
Finished goods	77,486		59,453
Total inventory	$	115,584	$	75,276

Property and Equipment, Net

12 Months Ended

Dec. 31, 2022

Property and Equipment, Net

Property and Equipment, NetFurniture, fixtures and office equipment, computer software and hardware, leasehold improvements and real property and improvements are recorded at cost and presented net of depreciation. We record land at historical cost. During the application development phase, we record capitalized development costs in our construction in progress account and then reclassify the asset to internal-use software when the project is ready for its intended use, which is usually when the code goes into production. Furniture, fixtures and office equipment and computer software and hardware are depreciated on a straight-line basis over lives ranging from three to five years. Internal-use software is amortized on a straight-line basis over a three-year period. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease terms or the asset lives. Real property is amortized on a straight-line basis over lives ranging from 15 to 39 years and the improvements related to real property are amortized on a straight-line basis over the shorter of the life of the underlying real property or the asset lives.

The components of property and equipment, net are as follows (in thousands):


	December 31,
	2022		2021
Furniture, fixtures and office equipment	$	9,078	$	8,124
Computer software and hardware	32,560		29,490
Internal-use software	8,949		8,957
Construction in progress	1,864		2,059
Leasehold improvements	31,532		30,219
Real property and improvements	10,495		9,252
Land	22,502		1,398
Total property and equipment	116,980		89,499
Accumulated depreciation	(59,808)		(47,786)
Property and equipment, net	$	57,172	$	41,713

Depreciation expense related to property and equipment for the years ended December 31, 2022, 2021 and 2020 was $11.6 million, $10.4 million and $8.3 million, respectively. Amortization expense related to internal-use software of $0.6 million, $2.0 million and $2.4 million was included in those expenses for the years ended December 31, 2022, 2021 and 2020, respectively. We had no disposals and write-offs of property and equipment that impacted the consolidated statements of operations during the years ended December 31, 2022, 2021 and 2020.

Acquisitions

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

Acquisition of a Business – Noonlight

On September 23, 2022, Alarm.com Incorporated, one of our wholly-owned subsidiaries, acquired 85% of the issued and outstanding shares of capital stock of 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.

In consideration for the purchase of 85% of the issued and outstanding shares of capital stock of Noonlight, we paid $31.9 million in cash on September 23, 2022, after deducting $1.5 million related to an outstanding loan issued to Noonlight during May of 2022 and $4.9 million related to agreed holdback provisions. See Note 9 for further details on the loan to Noonlight, including the settlement of the outstanding principal and interest. Pursuant to the terms of the stock purchase agreement, following the preliminary determination of the working capital of Noonlight as of the closing date, the purchase price decreased by less than $0.1 million. The working capital adjustment is expected to be finalized by the first quarter of 2023 and $0.3 million of the holdback is expected to be paid to the stockholders of Noonlight at that time. The remaining amount of the holdback of $4.6 million is expected to be paid to the stockholders of Noonlight by the end of the first quarter of 2024, subject to offset for any indemnification obligations. As a result of the acquisition of Noonlight, we recorded approximately $0.8 million in acquisition-related costs for the year ended December 31, 2022. These costs include expenses directly related to acquiring Noonlight, are expensed as incurred and are included in general and administrative expense in our consolidated statements of operations.

We recorded a measurement period adjustment related to changes in working capital, which resulted in an increase to the purchase consideration by $0.2 million, a decrease to accounts payable of $0.1 million, a decrease accrued expenses by less than $0.1 million and an increase to other current assets of less than $0.1 million. Additionally, we recorded a measurement period adjustment related to the assessment of the net operating losses acquired, which resulted in us recording a deferred tax asset of $2.6 million, which is presented net of the deferred tax liability of $2.3 million previously recorded in the acquisition, and a decrease to goodwill of $2.6 million. The purchase price allocation was not finalized as of December 31, 2022 and is pending the final determination of the working capital adjustment as well as potential future tax adjustments.

The table below sets forth the purchase consideration and the preliminary allocation used to estimate the fair value of the tangible and intangible net assets acquired (in thousands):


	September 23, 2022
Calculation of Purchase Consideration:
Cash paid, net of working capital adjustment	$	31,840
Outstanding principal and interest of loan provided to Noonlight	1,537
Holdback consideration	4,910
Total consideration	$	38,287
Estimated Tangible and Intangible Net Assets:
Cash	$	188
Accounts receivable	291
Other current and non-current assets	200
Property and equipment	45
Deferred tax assets	272

Developed technology	9,335
Trade names	150
Accounts payable	(321)
Accrued expenses and other current liabilities	(318)

Deferred revenue	(67)
Redeemable noncontrolling interest	(6,770)
Goodwill	35,282
Total tangible and intangible net assets	$	38,287

Goodwill of $35.3 million reflects the value of acquired workforce and synergies we expect to achieve from integrating Noonlight's suite of emergency response cloud-managed application program interfaces into our existing comprehensive suite of interactive cloud-based services. None of the goodwill recognized is expected to be deductible for income tax purposes in future periods. We allocate goodwill to reporting units based on expected benefit from synergies and have allocated the goodwill to the Alarm.com segment.

Fair Value of Net Assets Acquired and Intangibles

The acquired activities and assets in the purchase of Noonlight constituted a business and with the exception of contract liabilities accounted for under Topic 606, in accordance with ASC 805, "Business Combinations," the assets and liabilities were recorded at their respective fair values as of September 23, 2022. We developed our estimate of the fair value of intangible net assets using a multi-period excess earnings method for developed technology and the relief from royalty method for the trade name.

Developed Technology

Developed technology primarily consists of intellectual property of proprietary software that is marketed for sale. We valued the developed technology using the multi-period excess earnings method, an income approach. The significant assumptions used in the income approach include estimates about future expected cash flows from the developed technology, the obsolescence factor and the discount rate. We are amortizing the Noonlight developed technology, valued at $9.3 million, on an attribution method based on the discounted cash flows of the model over an estimated useful life of seven years.

Trade Names

We valued the trade names acquired using a relief from royalty method. The significant assumptions used in the income approach include future expected cash flows from the trade name, the royalty rate and the discount rate. We are amortizing the trade names, valued at $0.2 million, on an attribution basis derived from the discounted cash flows of the model over an estimated useful life of five years.

Redeemable Noncontrolling Interests

Our redeemable noncontrolling interest relates to our 85% equity ownership interest in Noonlight. The Noonlight stockholder agreement contains a put option that gives the minority Noonlight stockholders the right to sell their remaining 15% equity ownership interest to us based on the fair value of the shares and also contains a call option that gives us the right to purchase the remaining Noonlight shares from the minority Noonlight stockholders based on the fair value of the shares. The put and call options can each be exercised beginning in the first quarter of 2026. The redeemable noncontrolling interest was recorded at fair value on September 23, 2022, by applying the income approach using unobservable inputs for projected cash flows, including projected financial results and a discount rate, which are considered Level 3 inputs. This redeemable noncontrolling interest is considered temporary equity and we report it between liabilities and stockholders’ equity in the consolidated balance sheets. The redemption value of the Noonlight noncontrolling interest was $6.8 million as of September 23, 2022 and $6.6 million as of December 31, 2022.

Business Combinations in Operations - Noonlight

The operations of the Noonlight business combination discussed above were included in the consolidated financial statements as of the acquisition date. The pro forma information as well as the revenue and net losses of the business combination were not material to the consolidated financial statements for the year ended December 31, 2022.

Acquisition of a Business - Shooter Detection Systems

On December 14, 2020, Alarm.com Incorporated acquired 100% of the issued and outstanding ownership interest units of Shooter Detection Systems, LLC, or SDS. SDS provides an indoor gunshot detection solution through the Guardian Indoor Active Shooter Detection System, which uses a combination of acoustic and infrared sensors and proprietary algorithms to detect gunshots and communicate shooting incident details to building occupants and security teams. The acquisition of SDS expands our commercial solutions and helps our partners outfit commercial and enterprise customers with the indoor gunshot detection solution.

In consideration for the purchase of 100% of the issued and outstanding ownership interest units of SDS, we paid $26.6 million in cash on December 14, 2020. Pursuant to the terms of the unit purchase agreement, following the preliminary determination of the working capital of SDS as of the closing date, the purchase price decreased by $0.1 million. The purchase price allocation was finalized during the second quarter of 2021, including the working capital adjustment, resulting in a measurement period adjustment to increase the purchase consideration by $0.1 million and to increase goodwill by $0.1 million.

The table below sets forth the purchase consideration and the fair value allocation of the tangible and intangible net assets acquired (in thousands):


	December 14, 2020
Calculation of Purchase Consideration:
Cash paid, net of working capital adjustment	$	26,577
Total consideration	$	26,577

Tangible and Intangible Net Assets:
Cash	$	311
Accounts receivable	1,179
Inventory	917
Other current assets	240
Property and equipment	77
Operating lease right-of-use assets	384
Other assets	348
Customer relationships	2,362
Developed technology	13,522
Trade name	512
Accounts payable	(19)
Accrued expenses	(111)
Operating lease current liabilities	(51)
Operating lease liabilities	(333)
Goodwill	7,239
Total tangible and intangible net assets	$	26,577

Goodwill of $7.2 million reflects the value of acquired workforce and synergies we expect to achieve from expanding our commercial solutions through SDS's indoor gunshot detection solution. The goodwill recognized is expected to be deductible for income tax purposes in future periods. We allocate goodwill to reporting units based on expected benefit from synergies and have allocated the goodwill to the Alarm.com segment.

Fair Value of Net Assets Acquired and Intangibles

In accordance with ASC 805, SDS constituted a business and the assets and liabilities were recorded at their respective fair values as of December 14, 2020. We developed our estimate of the fair value of intangible net assets using the with-and-without method for customer relationships, the multi-period excess earnings method for the developed technology and the relief-from-royalty method for the trade name.

Customer Relationships

We recorded the customer relationships intangible separately from goodwill based on determination of the length, strength and contractual nature of the relationship that SDS shared with its customers. We valued the single group of customer relationships using the with-and-without method, an income approach. The significant assumptions used in the with-and-without method include estimates about future expected cash flows from customer contracts and the discount rate. We are amortizing the customer relationships, valued at $2.4 million, on an attribution basis derived from the discounted cash flows of the model over an estimated useful life of six years.

Developed Technology

Developed technology primarily consists of intellectual property of proprietary software that is marketed for sale. We valued the developed technology by applying the multi-period excess earnings method, an income approach. The significant assumptions used in the multi-period excess earnings method include estimates about future expected cash flows from the developed technology, the obsolescence factor and the discount rate. We are amortizing the SDS developed technology, valued at $13.5 million, on an attribution method based on the discounted cash flows of the model over an estimated useful life of seven years.

Trade Name

We valued the trade names acquired using a relief from royalty method. The significant assumptions used in relief from royalty method include future expected cash flows from the trade name, the royalty rate and the discount rate. We are amortizing the trade names, valued at $0.5 million, on an attribution basis derived from the discounted cash flows of the model over an estimated useful life of five years.

Unaudited Pro Forma Information - SDS

The following unaudited pro forma data is presented as if SDS were included in our historical consolidated statements of operations beginning January 1, 2019. These pro forma results do not necessarily represent what would have occurred if all the business combination had taken place on January 1, 2019, nor do they represent the results that may occur in the future.

This pro forma financial information includes our historical financial statements and those of our SDS business combination with the following adjustments: (i) we adjusted the pro forma amounts for income taxes, (ii) we adjusted for amortization expense assuming the fair value adjustments to intangible assets had been applied beginning January 1, 2019, and (iii) we adjusted for transaction fees incurred and reclassified them to January 1, 2019.

The pro forma adjustments were based on available information and upon assumptions that we believe are reasonable to reflect the impact of these acquisitions on our historical financial information on a supplemental pro forma basis, as follows (in thousands, except per share data):


	Pro Forma Year Ended December 31,
	2020		2019
Revenue	$	626,080	$	508,662
Net income attributable to common stockholders	75,258		52,999
Net income attributable to common stockholders per share - basic	$	1.54	$	1.08
Net income attributable to common stockholders per share - diluted	$	1.48	$	1.04

Business Combinations in Operations - SDS

The operations of the SDS business combination discussed above were included in the consolidated financial statements as of the acquisition date. The following table presents the revenue and losses of the business combination in the year of acquisition as reported within the consolidated financial statements (in thousands):


	Year Ended December 31, 2020
Revenue	$	334
Net loss	(413)

Asset Acquisitions

On December 16, 2021, EnergyHub, Inc., one of our wholly-owned subsidiaries, acquired certain assets of an unrelated third party. Substantially all of the acquired assets consisted of developed technology. 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.

In consideration for the purchase of the developed technology, we paid $4.2 million in cash in December 2021, with the remaining $0.9 million expected to be paid 18 months following the acquisition date, subject to offset for any indemnification obligations. Additionally, we incurred $0.2 million in direct transaction costs related to legal fees during 2021 that were capitalized as a component of the consideration transferred. The combined $5.3 million consideration related to developed technology was recorded as an intangible asset at the time of the asset acquisition and is being amortized on a straight-line basis over an estimated useful life of seven years.

On March 31, 2020, Alarm.com Incorporated acquired certain assets of an unrelated third party. Substantially all of the acquired assets consisted of in-process research and development, or IPR&D. We believe the acquisition of the IPR&D will continue to further our commitment to make significant investments in innovative research and development in the intelligently connected property market to broaden our suite of solutions.

In consideration for the purchase of the IPR&D, we paid $2.1 million in cash on March 31, 2020, $0.1 million in December 2019 and the remaining $0.7 million in April 2021. The $2.9 million consideration related to IPR&D was expensed at the time of the asset acquisition and was included in research and development expense in our consolidated statements of operations during 2020, as the IPR&D had no alternative future use.

On March 12, 2020, Alarm.com Incorporated acquired certain assets of an unrelated third party. Substantially all of the acquired assets consisted of IPR&D. We believe the acquisition of the IPR&D will continue to strengthen our smart intercom capability, including building access security and convenience within the multiple dwelling unit market for residents, guests and deliveries.

In consideration for the purchase of the IPR&D, we paid $1.2 million in cash on March 12, 2020 and the remaining $0.3 million in September 2021. The $1.5 million consideration related to IPR&D was expensed at the time of the asset acquisition and was included in research and development expense in our consolidated statements of operations during 2020, as the IPR&D had no alternative future use.

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

The changes in goodwill by reportable segment are outlined below (in thousands):


	Alarm.com		Other		Total
Balance as of January 1, 2021	$	112,838	$	—	$	112,838
Goodwill acquired	—		—		—
Measurement period adjustment	63		—		63
Balance as of December 31, 2021	112,901		—		112,901
Goodwill acquired - initial measurement	37,907		—		37,907
Measurement period adjustment	(2,625)		—		(2,625)
Balance as of December 31, 2022	$	148,183	$	—	$	148,183

On September 23, 2022, we acquired 85% of the issued and outstanding shares of capital stock of Noonlight and initially recorded $37.9 million of goodwill in the Alarm.com segment. Additionally, we recorded a measurement period adjustment related to the assessment of the net operating losses acquired, which resulted in us recording a decrease to goodwill of $2.6 million. There were no impairments of goodwill recorded during the years ended December 31, 2022, 2021 or 2020. As of December 31, 2022, the accumulated balance of goodwill impairments was $4.8 million, which is related to our acquisition of EnergyHub in 2013.

The following table reflects changes in the net carrying amount of the components of intangible assets (in thousands):


	Customer Relationships		Developed Technology		Trade Name		Total
Balance as of January 1, 2021	$	72,670	$	28,223	$	2,366	$	103,259
Intangible assets acquired	—		5,307		—		5,307
Impairment of intangible assets	(86)		—		—		(86)
Amortization	(13,158)		(3,373)		(543)		(17,074)
Balance as of December 31, 2021	59,426		30,157		1,823		91,406
Intangible assets acquired	—		9,335		150		9,485

Amortization	(11,904)		(5,939)		(590)		(18,433)
Balance as of December 31, 2022	$	47,522	$	33,553	$	1,383	$	82,458

We recorded $18.4 million, $17.1 million and $16.6 million of amortization related to our intangible assets for the years ended December 31, 2022, 2021 and 2020, respectively. There were no impairments of long-lived intangible assets during the years ended December 31, 2022 and 2020. We determined there was an impairment of $0.1 million for the remaining value of an intangible asset in the Alarm.com segment that was acquired in 2014 related to customer relationships that no longer existed after December 31, 2021, which was included in other (expense) / income, net in our consolidated statements of operations for the year ended December 31, 2021. During the year ended December 31, 2022, we wrote-off $0.7 million in fully amortized intangible assets in the Alarm.com segment that were acquired in 2014 related to customer relationships, developed technology, trade name and other intangible assets that no longer existed as of January 1, 2022.

The following tables reflect the weighted-average remaining life and carrying value of finite-lived intangible assets (in thousands, except weighted-average remaining life):


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Life (in years)
Customer relationships	$	125,885	$	(78,363)	$	47,522	7.0
Developed technology	58,478		(24,925)		33,553		5.8
Trade name	3,937		(2,554)		1,383		2.4

Total intangible assets	$	188,300	$	(105,842)	$	82,458	6.5


	December 31, 2021
	Gross Carrying Amount		Impairment of Intangible Assets		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Life (in years)
Customer relationships	$	126,093	$	(86)	$	(66,581)	$	59,426	7.9
Developed technology	49,371		—		(19,214)		30,157		6.5
Trade name	3,815		—		(1,992)		1,823		3.1
Other	234		—		(234)		—		0.0
Total intangible assets	$	179,513	$	(86)	$	(88,021)	$	91,406	7.4

The following table reflects the future estimated amortization expense for intangible assets (in thousands):


Year Ended December 31,	Amortization
2023	$	17,722
2024	15,477
2025	14,438
2026	12,909
2027	10,651
2028 and thereafter	11,261
Total future amortization expense	$	82,458

Other Assets

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Purchases of Patents and Patent Licenses

From time to time, we enter into agreements to purchase patents or patent licenses. In April 2020, we purchased 30 patents for $0.9 million and in October 2020, we purchased one patent for $0.2 million. The carrying value, net of amortization, of our purchased patents and patent licenses was $1.6 million and $2.2 million as of December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, $0.5 million and $0.6 million of patent costs were included in other current assets and $1.1 million and $1.6 million of patent costs were included in other assets, respectively. We have $7.0 million of historical cost in purchased patents and patent licenses as of December 31, 2022. We are amortizing the patent costs over the estimated useful lives of the patents, which range from three years to 18 years. Patent amortization cost of $0.3 million, $0.4 million and $0.4 million was included in cost of SaaS and license revenue in our consolidated statements of operations for each of the years ended December 31, 2022, 2021 and 2020. Patent amortization cost of $0.3 million, $0.3 million and $0.2 million was included in amortization and depreciation in our consolidated statements of operations for the year ended December 31, 2022, 2021 and 2020, respectively.

Loan to a Distribution Partner

In June 2020, we amended an existing term loan with our distribution partner and also amended an existing subordinated credit agreement with the affiliated entity of the distribution partner. At the time of the amended term loan and subordinated credit agreement in June 2020, the outstanding balance of the term loan was $3.0 million and the outstanding balance of the subordinated credit agreement was $3.0 million. Under the amended terms, the distribution partner paid us $2.0 million in principal for the term loan on June 9, 2020 and the remaining $1.0 million was transferred to the amended subordinated credit agreement with the affiliated entity of the distribution partner. As of December 31, 2022 and 2021, there was no remaining amount outstanding related to the amended term loan.

In December 2022, we amended the subordinated credit agreement with the affiliated entity of the distribution partner. The amended subordinated credit agreement matures on June 18, 2027 and interest on the outstanding principal balance accrues at a rate of 12.0% per annum and is payable in kind. Under the amended terms, the distribution partner paid us $1.0 million in paid-in-kind interest in December 2022. As of December 31, 2022 and 2021, $4.0 million and $4.6 million of the notes receivable balance related to the subordinated credit agreement was included in other assets in our consolidated balance sheets, respectively.

For the years ended December 31, 2022, 2021 and 2020, we recognized $2.7 million, $3.0 million and $2.4 million of revenue from the distribution partner associated with these loans, respectively.

Loan to a Service Provider Partner

In July 2020, we entered into a loan agreement with a service provider partner, under which we agreed to loan the service provider partner up to $2.5 million, collateralized by the assets of the service provider partner. Interest on the outstanding principal accrues at a rate per annum equal to 9.0% and monthly interest and principal payments began in April 2021. The maturity date of the loan is July 24, 2025. As of December 31, 2022 and 2021, $1.1 million and $1.2 million of principal was outstanding from the service provider partner under the loan agreement, respectively.

For the years ended December 31, 2022, 2021 and 2020, we recognized $0.2 million, $0.2 million and $0.1 million of revenue from the service provider partner associated with this loan, respectively.

Loan to Noonlight

In May 2022, we entered into an agreement with Noonlight, under which we agreed to loan Noonlight $1.5 million, collateralized by the assets of Noonlight. Interest on the outstanding principal accrued at a rate per annum equal to 7.0%. The outstanding interest and principal balances were previously included in other current assets in our consolidated balance sheet and were used to reduce the payment we made on September 23, 2022 to acquire 85% of the issued and outstanding shares of capital stock of Noonlight. As of December 31, 2022, no principal or interest was outstanding from Noonlight under the loan agreement.

Prior to the acquisition of Noonlight on September 23, 2022, for the years ended December 31, 2022, 2021 and 2020, we did not record any revenue from Noonlight.

Loan to a Technology Partner

In June 2022, we entered into a convertible promissory note with a technology partner, under which we agreed to loan the technology partner $1.5 million. Interest on the outstanding principal accrues at a rate per annum equal to 6.5%, starting one year from the effective date of the loan. Interest and principal payments are due on the maturity date of the loan, which is June 27, 2029, unless the loan is converted prior to the maturity date, which may occur upon a qualified financing event, as defined in the convertible promissory note, upon a sale of the technology partner or upon our election on the maturity date of the loan. As of December 31, 2022, $1.5 million of principal was outstanding from the technology partner under the convertible promissory note.

For the years ended December 31, 2022, 2021 and 2020, we did not record any revenue from the technology partner associated with this convertible promissory note.

Investment in a Hardware Supplier

In October 2018, we entered into a subordinate convertible promissory note with one of our hardware suppliers. In July 2019, we converted the outstanding notes receivable balance of $5.6 million into 9,520,832 shares of Series B preferred stock in the hardware supplier. We concluded that the $5.6 million equity investment, which is included in the Alarm.com segment, does not meet the criteria for consolidation and will be accounted for using the measurement alternative. Under the alternative, we measure investments without readily determinable fair values at cost, less impairment, adjusted for observable price changes

from orderly transactions for identical or similar investments. As of December 31, 2022 and 2021, our investment in the hardware supplier was $5.6 million.

Investments in Technology Partners

In December 2016, we paid $0.3 million for a convertible promissory note with a technology partner. In April 2018, the $0.3 million convertible promissory note converted into 135,135 shares of Series A-1 Preferred Stock. At the time of conversion, we determined there was no value related to the Series A-1 Preferred Stock. Based on observable price changes from orderly transactions for similar investments, we increased the amount of our investment by $0.7 million and recorded a gain within other (expense) / income, net, in our consolidated statements of operations during the year ended December 31, 2020.

In February 2021, we paid $5.0 million in cash to purchase 1,000,000 shares of Series B-2 Preferred Stock from the same technology partner as part of a financing round that included other investors. The $5.0 million equity investment, which is included in the Alarm.com segment, does not meet the criteria for consolidation and is accounted for using the measurement alternative. Under the measurement alternative, we measure investments without readily determinable fair values at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments. Our investment in the technology partner was $5.7 million as of December 31, 2022 and 2021, respectively.

In December 2022, we paid $5.1 million in cash to another technology partner to purchase 4,231,717 shares of its Series A Preferred Stock. The $5.1 million equity investment, which is included in the Alarm.com segment, does not meet the criteria for consolidation and is accounted for using the measurement alternative. As of December 31, 2022, our investment in the technology partner supplier was $5.1 million.

Investment in a Platform Partner

On July 31, 2020, a platform partner, in which we held 3,548,820 shares of common stock of the platform partner, was acquired by an unrelated third party. As a result of the sale, we received proceeds of $25.7 million in exchange for our shares of the platform partner's common stock and we recorded a gain of $24.7 million within other (expense) / income, net, in our consolidated statements of operations during the year ended December 31, 2020. As of December 31, 2022 and 2021, our investment in the platform partner was zero.

Allowance for Credit Losses - Notes Receivable

The changes in our allowance for credit losses for notes receivable are as follows (in thousands):


	Year Ended December 31, 2022				Year Ended December 31, 2021
	Loan Receivables		Hardware Financing Receivables		Loan Receivables		Hardware Financing Receivables
Beginning of period balance	$	(79)	$	(1)	$	(73)	$	(16)

Recovery of / (provision for) expected credit losses	77		1		(6)		15
Write-offs	—		—		—		—
End of period balance	$	(2)	$	—	$	(79)	$	(1)

We manage our notes receivables using delinquency as a key credit quality indicator. The following tables reflect the current and delinquent notes receivable by class of financing receivables and by year of origination (in thousands):


	December 31, 2022
Loan Receivables:	2022		2021		2020		2019		2018		Prior		Total
Current	$	1,500	$	—	$	1,093	$	1	$	—	$	4,015	$	6,609
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		—		—
90-119 days past due	—		—		—		—		—		—		—
120+ days past due	—		—		—		—		—		—		—
Total	$	1,500	$	—	$	1,093	$	1	$	—	$	4,015	$	6,609


	December 31, 2021
Loan Receivables:	2021		2020		2019		2018		2017		Prior		Total
Current	$	—	$	1,151	$	7	$	—	$	4,602	$	—	$	5,760
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		—		—
90-119 days past due	—		—		—		—		—		—		—
120+ days past due	—		—		—		—		—		—		—
Total	$	—	$	1,151	$	7	$	—	$	4,602	$	—	$	5,760

Hardware Financing Receivables:
Current	$	—	$	—	$	4	$	—	$	—	$	—	$	4
30-59 days past due	—		—		6		—		—		—		6
60-89 days past due	—		—		11		—		—		—		11
90-119 days past due	—		—		—		—		—		—		—
120+ days past due	—		—		—		—		—		—		—
Total	$	—	$	—	$	21	$	—	$	—	$	—	$	21

There were no notes receivable placed on nonaccrual status as of December 31, 2022 and 2021. During the years ended December 31, 2022, 2021 and 2020, there was no interest income recognized related to notes receivables that were in nonaccrual status.

As of December 31, 2022 and 2021, there were no notes receivables placed in nonaccrual status for which there was not a related allowance for credit losses. As of December 31, 2022 and 2021, there were no notes receivables that were 90 days or greater past due for which we continued to accrue interest income.

Prepaid Expenses

As of December 31, 2022 and 2021, $14.5 million and $17.7 million of prepaid expenses were included in other current assets, respectively, primarily related to software licenses, long lead-time parts related to our inventory and insurance.

Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables present our assets and liabilities measured at fair value on a recurring basis (in thousands):


	Fair Value Measurements on a Recurring Basis
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts as of December 31, 2022	$	510,326	$	—	$	—	$	510,326
Money market accounts as of December 31, 2021	679,278		—		—		679,278

Liabilities:
Subsidiary long-term incentive plan as of December 31, 2022	$	—	$	—	$	—	$	—
Subsidiary long-term incentive plan as of December 31, 2021	—		—		3,351		3,351

The following table summarizes the change in fair value of the Level 3 liabilities for the subsidiary long-term incentive plan with significant unobservable inputs (in thousands):


	Year Ended December 31,
	2022		2021
Beginning of period balance	$	3,351	$	1,000
Changes in fair value included in earnings	(247)		2,351
Reclassification to additional paid in capital upon modification	(3,104)		—
End of period balance	$	—	$	3,351

As of December 31, 2022, $509.6 million of our money market accounts was included in cash and cash equivalents and $0.7 million was included in other assets in our consolidated balance sheets. As of December 31, 2021, $679.3 million of our money market accounts was included in cash and cash equivalents in our consolidated balance sheets. Our money market accounts are valued using quoted prices in active markets. See Note 13 for the carrying amount and estimated fair value of the 2026 Notes as of December 31, 2022 and 2021.

The liability for the subsidiary long-term incentive plan consisted of the potential cash payment contingent upon meeting certain financial milestones related to the agreement established with certain employees of one of our subsidiaries. This incentive plan was established in November 2017 and the amount of compensation awarded to employees depended on the fair market value of the subsidiary, which was determined in part by the subsidiary’s projected financial results. We accounted for the subsidiary long-term incentive plan using fair value and established liabilities for the future payments under the terms of the incentive plan based on estimating revenue, EBITDA and EBITDA margin of the subsidiary over the period of the incentive plan through the anticipated achievement of the milestones. We estimated the fair value of the liability by using a Monte Carlo simulation model which involves several Level 3 unobservable inputs. The significant unobservable inputs used in the valuation included a weighted average revenue volatility and the revenue risk adjustment. The revenue volatility was weighted using revenue volatility results from the subsidiary’s peer group as well as market transaction metrics. The revenue risk adjustment was calculated using capital structure allocations from the subsidiary’s peer group, market transaction metrics as well as United States Treasury yields.

In May 2022, we terminated the subsidiary long-term incentive plan. The fair value of the liability related to the subsidiary long-term incentive plan as of the termination date was consistent with the liability as of March 31, 2022. Concurrent with the termination of the subsidiary long-term incentive plan, we granted performance-based restricted stock units to those employees who previously participated in the subsidiary long-term incentive plan. We accounted for the termination of the subsidiary long-term incentive plan and concurrent grant of performance-based restricted stock units as a modification of the original subsidiary long-term incentive plan. As a result, we reclassified the $3.1 million liability related to the subsidiary long-term incentive plan to additional paid-in capital during the three months ended June 30, 2022. Additionally, we recorded $1.2 million in incremental compensation costs as additional stock-based compensation expense to the applicable operating expense category based on the respective employee’s function (sales and marketing, general and administrative or research and development) during the three months ended June 30, 2022. The incremental compensation costs represented the excess of the fair value of the performance-based restricted stock units over the fair value of the subsidiary long-term incentive plan as of the modification date of the subsidiary long-term incentive plan.

The contingent consideration liability consisted of the potential earn-out payment related to our acquisition of 85% of the issued and outstanding capital stock of OpenEye on October 21, 2019. The earn-out payment was contingent on the satisfaction of certain calendar 2020 revenue targets and had a maximum potential payment of up to $11.0 million. During parts of 2019 and 2020, we accounted for the contingent consideration using fair value and established a liability for the future earn-out payment based on an estimation of revenue attributable to perpetual licenses and subscription licenses over the 2020 calendar year. The contingent consideration liability was valued with significant unobservable inputs, including the revenue volatility and the discount rate. Selecting another revenue volatility or discount rate within an acceptable range would not have resulted in a significant change to the fair value of the contingent consideration liability. As of October 21, 2019, the fair value of the liability was $2.8 million. At each reporting date until December 31, 2020, we remeasured the liability, using the same valuation approach. Changes in the fair value resulting from information that existed subsequent to the acquisition date were recorded in general and administrative expense in our consolidated statements of operations. As of December 31, 2020, the 2020 revenue targets were not met and the fair value of the contingent consideration related to the potential earn-out payment decreased to zero as compared to the initial liability recorded at the acquisition date, primarily due to OpenEye's 2020 actual revenue being less than the projected revenue. All contingencies related to the contingent consideration liability were resolved as of December 31, 2020 and no further estimates were necessary as of December 31, 2022.

There were no transfers into Level 3 or reclassifications between levels of the fair value hierarchy during the years ended December 31, 2022, 2021 and 2020.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Debt, Commitments and Contingencies Disclosure [Abstract]

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

We lease office space, data centers and office equipment under non-cancelable operating leases with various expiration dates through 2031. In August 2014, we signed a lease for office space in Tysons, Virginia, where we relocated our headquarters to in February 2016. We have subsequently entered into amendments to this lease to provide us with additional office space. The lease term ends in 2026, includes a five-year renewal option and a cumulative tenant improvement allowance of $12.1 million.

Supplemental information related to leases is presented in the table below (in thousands, except weighted-average term and discount rate):


	Year Ended December 31,
	2022		2021		2020
Operating lease cost	$	10,499	$	9,692	$	8,888
Cash paid for amounts included in the measurement of operating lease liabilities	12,723		11,809		10,177
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	7,474		5,158		10,073


	December 31, 2022		December 31, 2021
Weighted-average remaining lease term — operating leases	3.4 years		4.2 years
Weighted-average discount rate — operating leases	3.9	%	3.6	%

Maturities of lease liabilities are as follows (in thousands):


Year Ended December 31,	Operating Leases(1)
2023	$	13,446
2024	12,105
2025	9,915
2026	5,713
2027	805
2028 and thereafter	283
Total lease payments	42,267
Less: imputed interest(2)	2,730
Present value of lease liabilities	$	39,537

_______________

(1)Operating lease payments exclude $5.9 million of legally binding minimum lease payments for leases executed but not yet commenced and includes $0.4 million for options to extend lease terms that were reasonably certain of being exercised.

(2)Imputed interest was calculated using the incremental borrowing rate applicable for each lease.

Liabilities

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Liabilities

The components of accounts payable, accrued expenses and other current liabilities are as follows (in thousands):


	December 31, 2022		December 31, 2021
Accounts payable	$	53,121	$	64,751
Accrued expenses	17,539		19,894
Income taxes payable	43,576		—
Other current liabilities	5,421		5,171
Accounts payable, accrued expenses and other current liabilities	$	119,657	$	89,816

The components of other liabilities are as follows (in thousands):


	December 31, 2022		December 31, 2021

Holdback liability from asset acquisition and business combination	$	4,560	$	850
Subsidiary long-term incentive plan	—		3,351
Other liabilities	8,490		5,344
Other liabilities	$	13,050	$	9,545

Debt, Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Debt, Commitments and Contingencies

The debt, commitments and contingencies described below would require us, or our subsidiaries, to make payments to third parties under certain circumstances.

Convertible Senior Notes

On January 20, 2021, we issued $500.0 million aggregate principal amount of 0% convertible senior notes due January 15, 2026 in a private placement to qualified institutional buyers. The terms of the 2026 Notes are governed by an Indenture, or the Indenture, by and between Alarm.com Holdings, Inc. and U.S. Bank National Association, as trustee. The 2026 Notes are senior unsecured obligations that do not bear regular interest and the principal amount of the 2026 Notes will not accrete. The 2026 Notes may bear special interest under specified circumstances related to our failure to comply with our reporting obligations under the Indenture. Special interest, if any, will be payable semiannually in arrears on January 15 and July 15 of each year, beginning on July 15, 2021. We received proceeds from the issuance of the 2026 Notes of $484.3 million, net of $15.7 million of transaction fees and other debt issuance costs.

We may not redeem the 2026 Notes prior to January 20, 2024. We may redeem for cash, all or any portion of the 2026 Notes, at our option, on or after January 20, 2024, at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of our common stock has been at least 130% of the conversion price for the 2026 Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption. No sinking fund is provided for the 2026 Notes.

The 2026 Notes will be convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding August 15, 2025, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2021 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the 2026 Notes on each applicable trading day; (2) during the 5 business day period immediately after any 10 consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of 2026 Notes for such trading day was less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the 2026 Notes on each such trading day; (3) if we call any or all of the 2026 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the 2026 Notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events as set forth in the Indenture.

On or after August 15, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date of the 2026 Notes, holders of the 2026 Notes may convert all or any portion of their 2026 Notes at any time,

regardless of the foregoing conditions. Upon conversion, we may satisfy our conversion obligation by paying or delivering, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. It is our current intent to settle the principal amount of the 2026 Notes with cash. The initial conversion rate for the 2026 Notes is 6.7939 shares of our common stock per $1,000 principal amount of 2026 Notes, which is equivalent to an initial conversion price of $147.19 per share of our common stock, subject to adjustment under certain circumstances in accordance with the terms of the Indenture. In addition, following certain corporate events that occur prior to the maturity date of the 2026 Notes or if we deliver a notice of redemption in respect of the 2026 Notes, we will, under certain circumstances, increase the conversion rate of the 2026 Notes for a holder who elects to convert its 2026 Notes (or any portion thereof) in connection with such a corporate event or convert its 2026 Notes called (or deemed called) for redemption during the related redemption period (as defined in the Indenture), as the case may be.

If we undergo a fundamental change (as defined in the Indenture), subject to certain exceptions and except as described in the Indenture, holders may require us to repurchase for cash all or any portion of their 2026 Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2026 Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the fundamental change repurchase date.

The Indenture includes customary covenants and sets forth certain events of default after which the 2026 Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving us after which the 2026 Notes become automatically due and payable.

We used some of the proceeds to repay the $110.0 million outstanding principal balance under our credit facility and also used some of the proceeds to pay accrued interest, fees and expenses related to our credit facility (see the section titled "2017 Facility" below). We are using the remaining net proceeds from the issuance of the 2026 Notes for working capital and other general corporate purposes, which may include acquisitions or strategic investments in complementary businesses or technologies.

As discussed in Note 2, we adopted ASU 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity" effective January 1, 2022, using a modified retrospective adoption method. Prior to the adoption of the standard, the 2026 Notes were separated into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that did not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the 2026 Notes. The equity component was recorded in additional paid-in capital and was not remeasured as it continued to meet the conditions for equity classification. The debt discount for conversion option, debt issuance costs and net carrying amount of the equity component was $77.2 million, $2.4 million and $74.8 million, respectively, as of December 31, 2021. The excess of the principal amount of the liability component over its carrying amount was amortized to interest expense over the contractual term of the 2026 Notes at an effective interest rate of 4.0%.

Prior to the adoption of ASU 2020-06, the difference between the book and tax treatment of the debt discount and debt issuance costs of the 2026 Notes resulted in a difference between the carrying amount and tax basis of the 2026 Notes. This taxable temporary difference resulted in the recognition of a $18.3 million net deferred tax liability which was recorded as an adjustment to additional paid-in capital during the three months ended March 31, 2021.

Upon adoption of ASU 2020-06 on January 1, 2022, we recombined the liability and equity components of the 2026 Notes assuming that the instrument was accounted for as only a liability from inception to the date of adoption. We also recombined the liability and equity components of the debt issuance costs. The issuance costs are presented as a deduction from the outstanding principal balance of the 2026 Notes and are amortized to interest expense using the effective interest method over the contractual term of the 2026 Notes at a rate of 0.6%.

Upon adoption of ASU 2020-06 on January 1, 2022, we also removed the temporary difference between the book and tax treatment of the debt discount and adjusted the temporary difference between the book and tax treatment of the debt issuance costs of the 2026 Notes.

As of December 31, 2022 and 2021, the fair value of our 2026 Notes was $411.5 million and $452.5 million, respectively. The fair value was determined based on the quoted price of the 2026 Notes in an inactive market on the last traded day of the quarter and has been classified as Level 2 in the fair value hierarchy. Based on the closing price of our common stock of $49.48 on the last trading day of the quarter, the if-converted value of the 2026 Notes did not exceed the principal amount of $500.0 million as of December 31, 2022.

The net carrying amount of the liability component of the 2026 Notes is as follows (in thousands):


	December 31, 2022		December 31, 2021
Principal	$	500,000	$	500,000
Unamortized debt discount	—		(63,520)
Unamortized debt issuance costs	(9,630)		(11,135)
Net carrying amount	$	490,370	$	425,345

Interest expense related to the 2026 Notes is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Amortization of debt discount	$	—	$	13,678	$	—
Amortization of debt issuance costs	3,126		2,139		—
Total interest expense	$	3,126	$	15,817	$	—

2017 Facility

On October 6, 2017, we entered into a $125.0 million senior secured revolving credit facility, or the 2017 Facility, with Silicon Valley Bank, or SVB, as administrative agent, PNC Bank, National Association, as documentation agent, and a syndicate of lenders. Upon entry into the 2017 Facility, we borrowed $72.0 million, which was used to repay the previously outstanding balance under our previous credit facility. The 2017 Facility was set to mature in October 2022 and included an option to further increase the borrowing capacity to $175.0 million with the consent of the lenders. Costs incurred in connection with the 2017 Facility were capitalized and were being amortized as interest expense over the term of the 2017 Facility. The 2017 Facility was secured by substantially all of our assets, including our intellectual property. On March 25, 2020, we borrowed $50.0 million under the 2017 Facility as a precautionary measure in order to provide financial flexibility in light of current uncertainty in the financial markets resulting from the COVID-19 pandemic. On January 20, 2021, we repaid the entire outstanding principal balance of $110.0 million of the 2017 Facility with proceeds from the 2026 Notes. The 2017 Facility was terminated on January 20, 2021 and we recognized an extinguishment loss of $0.2 million in other (expense) / income, net in our consolidated statements of operations during the year ended December 31, 2021 for previously capitalized debt issuance costs related to the 2017 Facility that were unamortized at the time of the termination of the 2017 Facility. There were no amounts outstanding under the 2017 Facility as of December 31, 2022 and 2021 as a result of the termination of the 2017 Facility on January 20, 2021.

The outstanding principal balance on the 2017 Facility accrued interest at a rate equal to, at our option, either (1) LIBOR, plus an applicable margin based on our consolidated leverage ratio, or (2) the highest of (a) the Wall Street Journal prime rate, (b) the Federal Funds rate plus 0.50%, or (c) LIBOR plus 1.00% plus an applicable margin based on our consolidated leverage ratio. During 2021, until the termination of the 2017 Facility on January 20, 2021, we elected for the outstanding principal balance to accrue interest at LIBOR plus 1.50%, LIBOR plus 1.75%, LIBOR plus 2.00%, and LIBOR plus 2.50% when our consolidated leverage ratio is less than 1.00:1.00, greater than or equal to 1.00:1.00 but less than 2.00:1.00, greater than or equal to 2.00:1.00 but less than 3.00:1.00 and greater than or equal to 3.00:1.00, respectively. The 2017 Facility also carried an unused line commitment fee of 0.20%.

Commitments and Contingencies

Indemnification Agreements

We have various agreements that may obligate us to indemnify the other party to the agreement with respect to certain matters. Generally, these indemnification provisions are included in contracts arising in the normal course of business. Although we cannot predict the maximum potential amount of future payments that may become due under these indemnification agreements, we do not believe any potential liability that might arise from such indemnity provisions is probable or material.

Legal Proceedings

On June 2, 2015, Vivint, Inc., or Vivint, filed a lawsuit against us in U.S. District Court, District of Utah, alleging that our technology directly and indirectly infringes six patents that Vivint purchased. Vivint is seeking permanent injunctions, enhanced damages and attorneys' fees. We answered the complaint on July 23, 2015. Among other things, we asserted defenses based on non-infringement and invalidity of the patents in question. In 2017 and 2019, the U.S. Patent Trial and Appeal Board, or PTAB, issued final written decisions in inter partes reviews finding all or some of the claims in five of the asserted patents unpatentable. These decisions were affirmed on appeal. Discovery closed on October 29, 2021. Vivint has moved for partial summary judgment and Alarm.com has moved for summary judgment; both motions are pending decision. Vivint has also moved to assert previously abandoned claims from two of the patents in a new proceeding. We have opposed the motion. No trial date has been set.

Should Vivint prevail in proving Alarm.com infringes one or more of its patent claims, we could be required to pay damages of Vivint’s lost profits and/or a reasonable royalty for sales of our solution. Since all remaining patent claims in the litigation have expired, Vivint shall not be entitled to injunctive relief as a remedy in this matter. While we believe we have valid defenses to Vivint’s claims, any of these outcomes could result in a material adverse effect on our business. Based on currently available information, we have determined a loss is not probable or reasonably estimable at this time.

Further related to Vivint, on October 27, 2022, we filed a demand for arbitration of a dispute arising under the Patent Cross License Agreement between Alarm.com and Vivint executed in November 2013. Vivint has stopped paying license fees to Alarm.com under the agreement. Vivint has paid the required license fees to Alarm.com since the agreement was executed in November 2013. Alarm.com disputes Vivint's refusal of payment and is seeking continued payments of license fees in the arbitration, as well as interest and declaratory relief. There can be no assurance that Alarm.com will be successful in the arbitration proceedings. As a result of Vivint’s refusal to pay license fees under the agreement, which began during the fourth quarter of 2022, SaaS and license revenue and total revenue will decrease by approximately $6.0 million on a quarterly basis. We also believe that quarterly earnings and cash flow will be impacted by the aforementioned $6.0 million estimate, plus additional legal fees.

We also filed a lawsuit against Vivint on January 4, 2023 in U.S. District Court, Eastern District of Texas, alleging that Vivint infringes 15 of our patents. The case is docketed as No. 2:23-CV-0004-JRG-RSP (E.D. Tex.). We are seeking compensatory and enhanced damages, a permanent injunction and other relief. Vivint’s response to the complaint is due February 27, 2023.

On January 10, 2022, EcoFactor, Inc., or EcoFactor, filed a lawsuit against us in U.S. District Court, District of Oregon, alleging Alarm.com’s products and services directly and indirectly infringe five U.S. patents owned by EcoFactor. EcoFactor is seeking permanent injunctions, enhanced damages and attorneys' fees. We moved to dismiss the case for failure to state a claim on March 28, 2022. EcoFactor had previously asserted two of the same patents against us in an October 2019 complaint with the U.S. International Trade Commission, or ITC. In July 2021, the ITC found in favor of Alarm.com. EcoFactor appealed the decision but withdrew its appeal in December 2021. Two of the other three asserted patents are currently in ex parte reexamination proceedings at the PTO, and all claims of the third were found unpatentable by the PTAB in inter partes review on April 18, 2022. Also on April 18, 2022, the district court stayed the case at the request of the parties pending the disposition of other proceedings involving the asserted patents, including the reexamination proceedings.

Should EcoFactor prevail in its lawsuit we could be required to pay damages and/or a reasonable royalty for sales of our solution, we could be enjoined from making, using and selling our solution if a license or other right to continue selling such elements is not made available to us, and we could be required to pay ongoing royalties and comply with unfavorable terms if such a license is made available to us. While we believe we have valid defenses to EcoFactor’s claims, the outcome of these legal claims cannot be predicted with certainty and any of these outcomes could result in an adverse effect on our business. Based on currently available information, we have determined a loss is not probable or reasonably estimable at this time.

On July 22, 2021, Causam Enterprises, Inc., or Causam, filed a lawsuit against us in U.S. District Court, Western District of Texas, alleging that Alarm.com’s smart thermostats infringe four U.S. patents owned by Causam. Causam is seeking preliminary and permanent injunctions, enhanced damages and attorneys’ fees. We have not yet responded to the complaint. On September 3, 2021, the court issued an order staying the lawsuit until the ITC investigation described below is finally resolved.

On July 28, 2021, Causam filed a complaint with the ITC naming Alarm.com Incorporated, Alarm.com Holdings, Inc., and EnergyHub, Inc., among others, as proposed respondents. The complaint alleges infringement of the same four patents Causam asserted in district court. Causam is seeking a permanent limited exclusion order and permanent cease and desist order. On August 27, 2021, the ITC instituted an investigation into Causam’s allegations naming Alarm.com Incorporated, Alarm.com Holdings, Inc., EnergyHub Inc. and others as respondents. We answered the complaint on October 4, 2021. Among other things, we asserted defenses based on non-infringement and invalidity of the patents in question. An evidentiary hearing in the investigation was held from June 28, 2022 through July 1, 2022. On February 16, 2023, the ITC issued a final decision in favor of Alarm.com and EnergyHub. Causam has until April 17, 2023 to file an appeal of the decision in federal court.

Should Causam prevail in its district court lawsuit we could be required to pay damages and/or a reasonable royalty for sales of our solution, we could be enjoined from making, using and selling our solution if a license or other right to continue selling such elements is not made available to us, and we could be required to pay ongoing royalties and comply with unfavorable terms if such a license is made available to us. While we believe we have valid defenses to Causam’s claims, the outcome of these legal claims cannot be predicted with certainty, and any of these outcomes could result in an adverse effect on our business. Based on currently available information, we have determined a loss is not probable or reasonably estimable at this time.

In addition to the matters described above, we may be required to provide indemnification to certain of our service provider partners for certain claims regarding our solutions. For example, we are incurring costs associated with the indemnification of our service provider ADT, LLC in ongoing patent infringement suits.

On February 25, 2021, Vivint filed a lawsuit against ADT LLC a/k/a ADT LLC of Delaware d/b/a ADT Security Services in U.S. District Court, District of Utah, alleging that ADT Pulse, Control, and Blue each infringe one or more patents owned by Vivint. Vivint is seeking damages and attorneys’ fees. Vivint filed a second amended complaint on March 8, 2022. ADT answered the second amended complaint on March 22, 2022, asserted defenses based on non-infringement and invalidity of all five asserted patents and counterclaimed for declaratory judgement of invalidity of all five asserted patents. Two of the asserted patents are under inter partes review at the PTAB. On June 17, 2022, the court entered an order staying the case in view of the pending proceedings before the PTAB, with the exception of certain discovery of source code.

Should Vivint prevail on the claims that one or more elements of ADT’s products infringe, we could be required to indemnify ADT for damages in the form of a reasonable royalty or ADT could be enjoined from making, using and selling our solution if a license or other right to continue selling our technology is not made available or we are unable to design around such patents, and required to pay ongoing royalties and comply with unfavorable terms if such a license is made available to us. The outcome of these legal claims cannot be predicted with certainty. We believe there are valid defenses to the claims made by Vivint. Based on currently available information, we have determined a loss is not probable or reasonably estimable at this time.

Further, on November 4, 2022 and January 13, 2023, IOT Innovations LLC sued our service provider Monitronics International, Inc. d/b/a Brinks in U.S. District Court, Eastern District of Texas, alleging patent infringement of certain products and services sold by Monitronics. Monitronics filed a Motion to Dismiss the first-filed case on January 24, 2023. The cases are in the preliminary stages and the extent of Alarm.com’s indemnify obligations to Monitronics has not yet been determined, however should IOT Innovations prevail on the claims that one or more elements of Monitronics’ products or services infringe, we could be required to indemnify Monitronics for damages in the form of a reasonable royalty or Monitronics could be enjoined from making, using and selling our solution if a license or other right to continue selling our technology is not made available or we are unable to design around such patents, and required to pay ongoing royalties and comply with unfavorable terms if such a license is made available to us. The outcome of these legal claims cannot be predicted with certainty. Based on currently available information, we have determined a loss is not probable or reasonably estimable at this time.

We may also be a party to litigation and subject to claims incident to the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business.

Other than the preceding matters, we are not a party to any lawsuit or proceeding that, in the opinion of management, is reasonably possible or probable of having a material adverse effect on our financial position, results of operations or cash flows. We reserve for contingent liabilities based on ASC 450, "Contingencies," when it is determined that a liability, inclusive of defense costs, is probable and reasonably estimable. Litigation is subject to many factors that are difficult to predict, so there can be no assurance that, in the event of a material unfavorable result in one or more claims, we will not incur material costs.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Authorized shares We are authorized to issue two classes of stock, common stock and preferred stock. On June 9, 2015, the board of directors amended and restated our Amended and Restated Certificate of Incorporation, effective upon the closing of our initial public offering, or IPO, on July 1, 2015, and authorized us to issue up to 300,000,000 shares of common stock and 10,000,000 shares of undesignated preferred stock. Common and Preferred Stock As of December 31, 2022 and 2021, there were 50,985,454 and 50,406,606 shares of common stock issued, and 49,452,709 and 50,259,453 shares of common stock outstanding, respectively. As of December 31, 2022 and 2021, there were no preferred shares issued and outstanding. Each outstanding share of common stock is entitled to one vote per share. Stock Repurchase Programs On November 29, 2018, our board of directors authorized a stock repurchase program, under which we were authorized to purchase up to an aggregate of $75.0 million of our outstanding common stock during the two-year period that ended on November 29, 2020. On December 3, 2020, our board of directors authorized a stock repurchase program, under which we are authorized to purchase up to an aggregate of $100.0 million of our outstanding common stock during the three-year period ending December 3, 2023. During the years ended December 31, 2022, 2021 and 2020, we repurchased 1,385,592, zero, and 147,153 shares of our common stock under this program for $78.8 million, zero and $5.1 million, respectively, which includes applicable commissions and fees. On February 15, 2023, our board of directors authorized, to be effective February 23, 2023, the cancellation of the balance under the stock repurchase program ending December 3, 2023 and also authorized a stock repurchase program, under which we are authorized to purchase up to an aggregate of $100.0 million of our outstanding common stock during the two-year period ending February 23, 2025. Shares Withheld As permitted under the terms of the 2015 Plan, in 2021 the Compensation Committee authorized the withholding of shares of common stock in connection with the vesting of restricted stock unit awards issued to employees to satisfy applicable tax withholding requirements. These withheld shares are not issued or considered common stock repurchases under our stock repurchase program. We paid $4.5 million of tax withholdings related to vesting of restricted stock units during the year ended December 31, 2021. No tax withholdings related to the vesting of restricted stock units were paid during the year ended December 31, 2022. Prior to using the withholding method to satisfy applicable tax withholding requirements for employees, we utilized the sell-to-cover method in which shares of our restricted stock unit awards were sold into the market on behalf of the employee upon vesting to cover tax withholding liabilities. We may utilize either the withholding method or sell-to-cover method in the future.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

12 Months Ended

Dec. 31, 2022

Stock-Based Compensation

Stock-based compensation expense is included in the following line items in the consolidated statements of operations (in thousands):


	Year Ended December 31,
	2022		2021		2020
Sales and marketing	$	4,342	$	4,432	$	3,025
General and administrative	15,037		9,941		7,996
Research and development	33,275		24,321		18,155
Total stock-based compensation expense	$	52,654	$	38,694	$	29,176

The following table summarizes the components of non-cash stock-based compensation expense (in thousands):


	Year Ended December 31,
	2022		2021		2020
Stock options and assumed options	$	3,654	$	3,707	$	3,406
Restricted stock units	48,798		34,799		25,605
Employee stock purchase plan	202		188		165
Total stock-based compensation expense	$	52,654	$	38,694	$	29,176
Tax windfall benefit from stock-based awards	$	2,022	$	10,063	$	8,202

2015 Equity Incentive Plan

We issue stock options pursuant to our 2015 Plan. The 2015 Plan allows for the grant of stock options to employees and for the grant of nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, or RSUs, performance-based stock awards, and other forms of equity compensation to our employees, directors and non-employee directors and consultants.

In June 2015, our board of directors adopted and our stockholders approved our 2015 Plan pursuant to which we initially reserved a total of 4,700,000 shares of common stock for issuance under the 2015 Plan, which included shares of our common stock previously reserved for issuance under our Amended and Restated 2009 Stock Incentive Plan, or the 2009 Plan. The number of shares of common stock reserved for issuance under the 2015 Plan will automatically increase on January 1 each year, for a period of not more than 10 years, commencing on January 1, 2016 through January 1, 2024, by 5.0% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares as may be determined by the board of directors. As a result of the adoption of the 2015 Plan, no further grants may be made under the 2009 Plan. As of December 31, 2022, 7,620,703 shares remained available for future grant under the 2015 Plan. In November 2022, our board of directors determined that the January 1, 2023 increase in the number of shares reserved for issuance under the 2015 Plan would be 5.0% of the total number of shares of common stock outstanding on December 31, 2022, or 2,472,635 shares. In December 2021, our board of directors determined that the January 1, 2022 increase in the number of shares reserved for issuance under the 2015 Plan would be 5.0% of the total number of shares of common stock outstanding on December 31, 2021, or 2,512,972 shares. There was no increase to the number of shares of common stock reserved for issuance under the 2015 Plan in the year ended December 31, 2020.

Stock Options

Stock options under the 2015 Plan have been granted at exercise prices based on the closing price of our common stock on the date of grant. Stock options under the 2009 Plan were granted at exercise prices as determined by the board of directors to be the fair market value of our common stock. Our stock options generally vest over a five-year period and each option, if not exercised or forfeited, expires on the tenth anniversary of the grant date.

Certain stock options granted under the 2015 Plan and previously granted under the 2009 Plan may be exercised before the options have vested. Unvested shares issued as a result of early exercise are subject to repurchase by us upon termination of employment or services at the original exercise price. The proceeds from the early exercise of stock options are initially recorded as a current liability and are reclassified to common stock and additional paid-in capital as the awards vest and our repurchase right lapses. There were no unvested shares of common stock outstanding subject to our right of repurchase as of December 31, 2022 and 2021. We did not repurchase any unvested shares of common stock related to early exercised stock options in connection with employee terminations during the years ended December 31, 2022, 2021 and 2020. There were no proceeds from the early exercise of the unvested stock options reflected in accounts payable, accrued expenses and other current liabilities on our consolidated balance sheets as of December 31, 2022 and 2021.

We account for stock-based compensation options based on the fair value of the award as of the grant date. We recognize stock-based compensation expense using the accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the service inception date to the vesting date for that tranche.

We value our stock options using the Black-Scholes option pricing model, which requires the input of subjective assumptions, including the risk-free interest rate, expected term, expected stock price volatility and dividend yield. The risk-free interest rate assumption is based upon observed interest rates for constant maturity U.S. Treasury securities consistent with the expected term of our stock options. In prior years, we used the "simplified method" to calculate the expected term, which was presumed to be the mid-point between the vesting date and the end of the contractual term. Beginning upon the first grant of options in 2022, the expected term for options granted is estimated using our historical experience, including information related to options we have granted. The expected volatility for options granted is based on historical volatilities of our stock over the estimated expected term of the stock options.

There were 184,500, 143,700 and 143,650 stock options granted during the years ended December 31, 2022, 2021 and 2020, respectively. We declared and paid dividends in June 2015 in anticipation of our IPO, which we closed on July 1, 2015. Subsequent to the IPO, we do not expect to declare or pay dividends on a recurring basis. As such, we assume that the dividend rate is 0%.

The following table summarizes the assumptions used for estimating the fair value of stock options granted:


	Year Ended December 31,
	2022		2021		2020
Volatility	40.2 - 41.8%		41.8 - 42.6%		39.2 - 42.3%
Expected term	5.2 - 5.3 years		6.2 - 6.7 years		6.2 - 6.7 years
Risk-free interest rate	2.9 - 3.9%		1.0 - 1.2%		0.4 - 1.8%
Dividend rate	—	%	—	%	—	%

The following table summarizes stock option activity:


	Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021	1,167,481	$	35.99	5.7	$	57,129
Granted	184,500	60.80
Exercised	(122,664)	20.35			5,725
Forfeited	(41,316)	61.90
Expired	(1,350)	2.95
Outstanding as of December 31, 2022	1,186,651	$	40.60	5.6	$	18,309
Vested and expected to vest as of December 31, 2022	1,186,651	$	40.60	5.6	$	18,309
Exercisable as of December 31, 2022	758,291	$	29.05	4.1	$	17,347

The weighted average grant date fair value for our stock options granted during the years ended December 31, 2022, 2021 and 2020 was $24.68, $36.63 and $16.79, respectively. The total fair value of stock options vested during the years ended December 31, 2022, 2021 and 2020 was $3.3 million, $3.4 million and $3.6 million, respectively. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2022, 2021 and 2020 was $5.7 million, $21.9 million and $33.4 million, respectively. As of December 31, 2022, the total compensation cost related to nonvested awards not yet recognized was $5.6 million, which will be recognized over a weighted average period of 2.4 years. Cash received from exercises of stock options was $2.5 million, $4.2 million and $10.2 million during the years ended December 31, 2022, 2021 and 2020, respectively.

Restricted Stock Units

There was an aggregate of 1,123,076, 837,576 and 498,416 RSUs without performance conditions granted to certain of our employees and directors during the years ended December 31, 2022, 2021 and 2020, respectively. There was an aggregate of 168,223, 120,314 and 66,000 RSUs with performance conditions granted to certain of our employees during the years ended December 31, 2022, 2021 and 2020, respectively. The time-based RSUs vest over a five-year period from the vesting commencement date, which is generally the grant date. The performance-based RSUs vest when the related performance conditions are met. Vested RSUs include the amount of shares withheld to satisfy tax withholding requirements to be paid by us on behalf of our employees, when applicable. We account for RSUs based on the fair value of the award as of the grant date. We recognize stock-based compensation expense for time-based RSUs using the accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the grant date to the vesting date for that tranche. The condition for vesting of the RSUs is based on continued employment. We recognize stock-based compensation expense for performance-based RSUs based on management’s determination of the probable outcome of the performance conditions and we record a cumulative adjustment in periods in which there is a change in the estimated number of shares expected to vest. As of December 31, 2022, the total unrecognized compensation expense related to RSUs without performance conditions was $82.9 million, which is expected to be recognized over a weighted average period of 2.5 years. As of December 31, 2022, the total unrecognized compensation expense related to RSUs with performance conditions was $12.3 million, which is expected to be recognized over a weighted average period of 2.9 years.

The following table summarizes RSU activity:


	RSUs without Performance Conditions					RSUs with Performance Conditions
	Number of RSUs	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)		Number of RSUs	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021	1,797,899	$	64.71	$	152,480	129,718	$	76.64	$	11,001
Granted	1,123,076	63.76				168,223	71.64
Vested	(429,892)	56.46		27,907		—	—		—
Forfeited	(223,229)	66.15				(3,019)	62.38
Outstanding as of December 31, 2022	2,267,854	$	65.67	$	112,213	294,922	$	73.94	$	14,593
Vested and expected to vest as of December 31, 2022	2,267,854	$	65.67	$	112,213	279,267	$	73.17	$	13,818

The weighted average grant date fair value for our RSUs without performance conditions granted during the years ended December 31, 2022, 2021 and 2020 was $63.76, $86.35 and $50.61, respectively. The weighted average grant date fair value for our RSUs with performance conditions granted during the years ended December 31, 2022, 2021 and 2020 was $71.64, $87.53 and $56.83, respectively. The total fair value of RSUs without performance conditions vested during the years ended December 31, 2022, 2021 and 2020 was $24.3 million, $20.9 million and $9.0 million, respectively. The total fair value of RSUs with performance conditions vested during the years ended December 31, 2022, 2021 and 2020 was zero, $1.1 million and zero, respectively.

Employee Stock Purchase Plan

Our board of directors adopted our 2015 ESPP in June 2015. As of December 31, 2022, 1,929,629 shares have been reserved for future grant under the 2015 ESPP, with provisions established to increase the number of shares available on January 1 of each subsequent year for nine years. The annual automatic increase in the number of shares available for issuance under the 2015 ESPP is the lesser of 1% of each class of common stock outstanding as of December 31 of the preceding fiscal year, 1,500,000 shares of common stock, or such lesser number as determined by the board of directors. There was no increase to the number of shares of common stock reserved for issuance under the 2015 ESPP in any of 2020, 2021 or 2022 nor will the number of shares be increased in 2023. The 2015 ESPP allows eligible employees to purchase shares of our common stock at 90% of the fair market value, rounded up to the nearest cent, based on the closing price of our common stock on the purchase date. The maximum number of shares of our common stock that a participant may purchase during any calendar year shall not exceed such number of shares having a fair market value equal to the lesser of $15,000 or 10% of the participant's base compensation for that year.

The 2015 ESPP is considered compensatory for purposes of share-based compensation expense due to the 10% discount on the fair market value of the common stock. An aggregate of 24,994, 19,628 and 29,933 shares were purchased by employees for the years ended December 31, 2022, 2021 and 2020, respectively, for which we recognized $0.2 million of compensation expense during each of those years. Compensation expense is recognized for the amount of the discount, net of actual forfeitures and voluntary withdrawals, over the six-month purchase period.

Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share amounts):


	Year Ended December 31,
Numerator:	2022		2021		2020
Net income	$	55,631	$	51,175	$	76,660
Net loss attributable to redeemable noncontrolling interests	707		1,084		1,193

Net income attributable to common stockholders - basic (A)	$	56,338	$	52,259	$	77,853
Add back interest expense, net of tax, attributable to convertible senior notes	2,352		—		—
Net income attributable to common stockholders - diluted (B)	$	58,690	$	52,259	$	77,853
Denominator:
Weighted average common shares outstanding — basic (C)	49,926,236		49,869,857		48,950,328
Dilutive effect of convertible senior notes, stock options and restricted stock units	5,006,521		2,050,045		2,012,862
Weighted average common shares outstanding — diluted (D)	54,932,757		51,919,902		50,963,190
Net income per share:
Basic (A/C)	$	1.13	$	1.05	$	1.59
Diluted (B/D)	$	1.07	$	1.01	$	1.53

The following securities have been excluded from the calculation of diluted weighted average common shares outstanding as the inclusion of these securities would have an anti-dilutive effect:


	Year Ended December 31,
	2022	2021	2020
Stock options	393,042	142,660	158,515
Restricted stock units	242,842	11,630	62,194

Our redeemable noncontrolling interests relate to our 85% equity ownership interest in OpenEye and Noonlight. See Note 2 and Note 7 for details on the put options and call options contained in the OpenEye and Noonlight stockholder agreements.

Prior to the adoption of ASU 2020-06, since we expected to settle the principal amount on our outstanding 2026 Notes in cash and any excess in cash or shares of our common stock, we used the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread had a dilutive impact on diluted net income per share of common stock when the average market price of our common stock for a given period exceeded the conversion price of $147.19 per share for the 2026 Notes. Based on the initial conversion price and the average market price of our common stock for the year ended December 31, 2021, there was no dilutive effect of the 2026 Notes on our earnings per share during the year ended December 31, 2021.

Upon adoption of ASU 2020-06 on January 1, 2022, we began using the if-converted method when calculating the dilutive impact of the 2026 Notes on net income per share. As a result, we included 3,396,950 shares related to the 2026 Notes within the weighted average shares outstanding when calculating the diluted net income per share for the year ended December 31, 2022. Additionally, we included $2.4 million of debt issuance cost amortization, net of tax, within the numerator of the diluted net income per share for the year ended December 31, 2022.

Significant Service Providers and Distributors	12 Months Ended
Significant Service Providers and Distributors	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Significant Service Providers and Distributors	Significant Service Providers and Distributors During the years ended December 31, 2022, 2021 and 2020, our 10 largest revenue service provider partners or distributors accounted for 49%, 47% and 48% of our consolidated revenue. One of our service provider partners within the Alarm.com segment individually represented greater than 15% but not more than 20% of our revenue for the years ended December 31, 2022, 2021 and 2020. Two service provider partners or distributors in the Alarm.com segment represented more than 10% of accounts receivable as of December 31, 2022. One service provider partner in the Alarm.com segment represented more than 10% of accounts receivable as of December 31, 2021.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The components of our income tax expense are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Current
Federal	$	44,591	$	2,678	$	3,583
State	10,730		1,437		2,735
Foreign	680		894		438
Total Current	56,001		5,009		6,756
Deferred
Federal	(45,609)		(9,295)		(3,628)
State	(9,271)		(820)		372
Foreign	(159)		—		—
Total Deferred	(55,039)		(10,115)		(3,256)
Total	$	962	$	(5,106)	$	3,500

The difference between the income tax expense at the federal statutory rate and income tax expense in the consolidated statements of operations is as follows:


	Year Ended December 31,
	2022		2021		2020
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income tax expense, net of federal benefits	1.0		(1.0)		1.4
Nondeductible meals and entertainment	0.9		0.5		0.1

Foreign-derived intangible income deduction	(7.0)		(1.7)		(1.4)
Valuation allowance	0.4		1.1		1.3
Research and development tax credits	(16.5)		(17.7)		(9.4)
Tax windfall benefits	(3.0)		(18.8)		(8.8)

Foreign withholding tax	1.2		1.9		0.5
Nondeductible compensation	1.8		1.9		—
Other	1.9		1.7		(0.3)
Effective rate	1.7	%	(11.1)	%	4.4	%

The components of our net deferred tax assets (liabilities) are as follows (in thousands):


	December 31,
	2022		2021
Deferred tax assets, non-current
Provision for credit losses on accounts receivable	$	1,073	$	847
Depreciation	445		281

Accrued expenses	5,288		4,749
Deferred revenue	2,274		2,061
Operating lease liabilities	9,757		10,619

Stock-based compensation	22,191		15,461
Acquisition costs	2,363		2,627
Subsidiary unit compensation	—		804

Inventory reserve	654		439
Debt issuance costs	—		402
Net operating losses	3,492		1,262
Tax credits	3,085		9,405

Capitalized research and development expenditures	53,901		—
Other	786		577
Total deferred tax assets, non-current prior to valuation allowance	105,309		49,534
Valuation allowance	(2,591)		(2,209)
Total deferred tax assets, non-current, net of valuation allowance	102,718		47,325
Deferred tax liabilities, non-current
Intangible assets and prepaid patent licenses	(4,354)		(2,905)
Operating lease right-of-use assets	(7,134)		(7,534)
Depreciation	(5,828)		(6,446)
Sales commissions	(1,138)		(896)

Internally developed software	—		(147)
Equity investments	(79)		(92)
Convertible debt discount	—		(15,758)
Total deferred tax liabilities, non-current	(18,533)		(33,778)
Net deferred tax assets, non-current	$	84,185	$	13,547

A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest expense) is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning balance	$	5,541	$	4,228	$	3,065
Additions based on tax positions of the current year	1,881		1,526		1,166
Additions based on tax positions of prior year	225		15		656
Decreases based on tax positions of prior year	(51)		(10)		(259)

Decreases due to lapse of applicable statute of limitations	—		(218)		(400)
Ending balance	$	7,596	$	5,541	$	4,228

Our effective income tax rates were 1.7%, (11.1)% and 4.4% for the years ended December 31, 2022, 2021 and 2020, respectively. Our effective tax rates were below the 21.0% statutory rate primarily due to research and development tax credits claimed, foreign derived intangible income deductions and tax windfall benefits from employee stock-based payment transactions, partially offset by the impact of nondeductible expenses, foreign withholding taxes and state taxes.

We recognize a valuation allowance if, based on the weight of available evidence, both positive and negative, it is more likely than not that some portion, or all, of net deferred tax assets will not be realized. Due to the uncertainty of realization of certain deferred tax assets acquired in 2017 related to our Canadian net operating losses and research and development tax credits, we established a valuation allowance of $0.3 million during the second quarter of 2019, which remained at $0.3 million as of December 31, 2021 and, due to evidence indicating it was more likely than not that the Canadian tax attributes would be realized prior to expiration, the Canadian valuation allowance was reduced to zero as of December 31, 2022. During 2020, we established a valuation allowance of $1.3 million for state research and development tax credit carryforwards, which increased to $1.9 million as of December 31, 2021 and increased to $2.6 million as of December 31, 2022.

We apply guidance for uncertainty in income taxes that requires the application of a more likely than not threshold to the recognition and de-recognition of uncertain tax positions. If the recognition threshold is met, this guidance permits us to recognize a tax benefit measured at the largest amount of the tax benefit that, in our judgment, is more likely than not to be realized upon settlement. We recorded an increase to the unrecognized tax benefits liability of $2.1 million, $1.4 million and $1.1 million primarily for research and development tax credits claimed during the years ended December 31, 2022, 2021 and 2020, respectively. We believe that it is reasonably possible within the next 12 months that a decrease of up to $0.7 million in unrecognized tax benefits may be recognized as a result of a lapse of the statute of limitations.

Our unrecognized tax benefits as of December 31, 2022 and 2021 includes unrecognized tax benefits of $7.4 million and $5.4 million, respectively, that if recognized, would reduce our income tax expense and effective tax rate.

As of December 31, 2022 and 2021, we accrued $0.3 million and $0.2 million of total interest expense related to unrecognized tax benefits, respectively. We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense.

As of December 31, 2022, we had gross U.S. federal net operating loss carryforwards of $15.1 million, which will begin to expire in 2031 and we had Canadian Federal net operating loss carryforwards of $0.6 million, which are scheduled to begin to expire in 2034. As of December 31, 2022, we had state net operating loss carryforwards of $2.0 million, which will begin to expire in 2034. As of December 31, 2022, we had no federal research and development tax credit carryforwards. As of December 31, 2022, we had state research and development tax credit carryforwards of $3.5 million, which will begin to expire in 2030. The federal net operating loss carryforward arose in connection with the 2013 acquisition of EnergyHub and the 2022 acquisition of Noonlight. Utilization of the acquired EnergyHub and Noonlight net operating loss carryforwards may be subject to annual limitations due to ownership change limitations as provided by the Internal Revenue Code of 1986, as amended.

Our tax returns are subject to on-going review and examination by various tax authorities. Tax authorities may not agree with the treatment of items reported in our tax returns, and therefore the outcome of tax reviews and examinations can be unpredictable. On October 13, 2021, the Internal Revenue Service commenced an examination of our federal income tax return for 2018 and on August 12, 2022, the Internal Revenue Service expanded the examination to include our federal income tax return for 2019, both of which are ongoing. The anticipated completion date of the Internal Revenue Service examinations cannot be estimated at this time.

In August 2022, the Inflation Reduction Act of 2022 was enacted in the United States which, among other provisions, includes a minimum 15.0% tax on companies that have a three-year average annual adjusted financial statement income of more than $1.0 billion and a 1.0% excise tax on the value of net corporate stock repurchases. Both provisions are effective for tax years beginning after December 31, 2022. We do not currently believe the 15.0% corporate minimum tax or the 1.0% tax on net corporate stock repurchases will have a material impact on our financial condition or results of operations.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

We have two reportable segments:

•Alarm.com segment

•Other segment

Our chief operating decision maker is our chief executive officer. Management determined the operational data used by the chief operating decision maker is that of the two reportable segments. Management bases strategic goals and decisions on these segments and the data presented below is used to measure financial results.

Our Alarm.com segment represents our cloud-based and Software platforms for the intelligently connected property and related solutions that contributed 94%, 95% and 94% of our revenue, net of intersegment eliminations, for the years ended December 31, 2022, 2021 and 2020, respectively. Our Other segment is focused on researching, developing and offering

residential and commercial automation solutions and energy management products and services in adjacent markets. Inter-segment revenue includes sales of hardware between our segments.

Management evaluates the performance of its segments and allocates resources to them based on operating income / (loss) as compared to prior periods and current performance levels. The reportable segment operational data is presented in the tables below (in thousands):


	Year Ended December 31, 2022
	Alarm.com		Other		Intersegment Alarm.com		Intersegment Other		Total
SaaS and license revenue	$	478,134	$	42,243	$	—	$	—	$	520,377
Hardware and other revenue	317,937		9,097		(4,067)		(785)		322,182
Total revenue	796,071		51,340		(4,067)		(785)		842,559
Operating income / (loss)	66,744		(16,255)		417		131		51,037
Assets	1,366,343		53,927		(90,929)		34		1,329,375

	Year Ended December 31, 2021
	Alarm.com		Other		Intersegment Alarm.com		Intersegment Other		Total
SaaS and license revenue	$	426,823	$	33,549	$	—	$	—	$	460,372
Hardware and other revenue	284,721		9,275		(3,089)		(2,310)		288,597
Total revenue	711,544		42,824		(3,089)		(2,310)		748,969
Operating income / (loss)	70,646		(9,590)		766		(250)		61,572
Assets	1,264,416		37,198		(69,595)		(4)		1,232,015

	Year Ended December 31, 2020
	Alarm.com		Other		Intersegment Alarm.com		Intersegment Other		Total
SaaS and license revenue	$	366,815	$	26,442	$	—	$	—	$	393,257
Hardware and other revenue	219,826		14,254		(3,093)		(6,241)		224,746
Total revenue	586,641		40,696		(3,093)		(6,241)		618,003
Operating income / (loss)	59,194		(2,908)		393		(381)		56,298

Our SaaS and license revenue for the Alarm.com segment included software license revenue of $26.8 million, $32.3 million and $38.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. There was no software license revenue recorded for the Other segment during the years ended December 31, 2022, 2021 and 2020.

Depreciation and amortization expense was $29.6 million, $29.3 million and $27.2 million for the Alarm.com segment for the years ended December 31, 2022, 2021 and 2020, respectively. Depreciation and amortization expense was $1.2 million, $0.4 million and $0.3 million for the Other segment for the years ended December 31, 2022, 2021 and 2020, respectively. Additions to property and equipment were $28.4 million, $9.7 million and $16.4 million for the Alarm.com segment for the years ended December 31, 2022, 2021 and 2020, respectively. Additions to property and equipment were $0.3 million, $0.5 million and $1.1 million for the Other segment for the years ended December 31, 2022, 2021 and 2020, respectively.

We derived substantially all revenue from North America for the years ended December 31, 2022, 2021 and 2020. Substantially all of our long-lived assets were in North America as of December 31, 2022 and 2021.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Data (unaudited)

The following table shows selected unaudited quarterly consolidated statement of operations data for each of our eight most recently completed quarters. In the opinion of management, the information for each of these quarters has been prepared on the same basis as our audited financial statements and include all adjustments, consisting of normal recurring adjustments and accruals, necessary for the fair statement of financial information in accordance with GAAP. However, the global economy, credit markets and financial markets have and may continue to experience significant volatility as a result of Macroeconomic Conditions. These Macroeconomic Conditions have and may continue to create supply chain disruptions, inventory disruptions, and fluctuations in economic growth, including fluctuations in employment rates, inflation, energy prices and consumer sentiment. In particular, the COVID-19 pandemic also disrupted and may intermittently continue to disrupt our sales channels due to restrictions imposed from time to time on our service providers’ ability to meet with residential and commercial property owners who use our solutions. It remains difficult to assess or predict the ultimate duration and economic impact of the Macroeconomic Conditions including, the path of the COVID-19 pandemic, the evolution of COVID-19 variants or the emergence of other public health crises. Additionally, increases in freight shipment and inventory component costs have resulted in an increase to our cost of hardware revenue during 2021 and portions of 2022.

Information about current period and prior period acquisitions that may affect the comparability of the selected financial information presented below is included in Note 7. Information about the 2026 Notes issued in January 2021 and the related interest expense, which may affect the comparability of the quarterly financial data presented below, is included in Note 13. Information about the adoption of ASU 2020-06 and the elimination of non-cash interest expense related to the amortization of the debt discount associated with the equity component for the 2026 Notes, which may affect the comparability of the quarterly financial data presented below, is included in Note 2. The selected consolidated statements of operation data in amounts are presented below (in thousands, except per share data):


	Three Months Ended
	Mar. 31, 2021		June 30, 2021		Sept. 30, 2021		Dec. 31, 2021		Mar. 31, 2022		June 30, 2022		Sept. 30, 2022		Dec. 31, 2022
Total revenue	$	172,498	$	188,857	$	192,324	$	195,290	$	205,437	$	212,845	$	216,138	$	208,139
Total cost of revenue	65,762		77,367		80,384		82,386		90,087		87,336		85,586		79,572

Net income	14,550		14,490		13,294		8,841		8,903		10,828		18,110		17,790
Net income attributable to common stockholders	14,830		14,745		13,538		9,146		9,079		10,842		18,332		18,085
Net income per share attributable to common stockholders
Basic	$	0.30	$	0.30	$	0.27	$	0.18	$	0.18	$	0.22	$	0.37	$	0.36
Diluted	$	0.29	$	0.28	$	0.26	$	0.18	$	0.18	$	0.21	$	0.35	$	0.34

Schedule II - Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts and Reserves

Schedule II

Valuation and Qualifying Accounts and Reserves

(In thousands)


Description	Balance at Beginning of Year		Additions Charged Against Revenue		Additions Charged to Other Accounts			Deductions		Balance at End of Year
Year Ended December 31, 2022
Allowance for credit losses on accounts receivable	$	2,168	$	—	$	1,156		$	(489)	$	2,835
Allowance for product returns	1,181		4,746		—			(4,376)		1,551
Allowance for credit losses on notes receivable	80		—		(78)			—		2
Deferred tax valuation allowance	2,209		—		1,337			(955)		2,591
Year Ended December 31, 2021
Allowance for credit losses on accounts receivable	$	4,696	$	—	$	(775)		$	(1,753)	$	2,168
Allowance for product returns	1,480		2,494		—			(2,793)		1,181
Allowance for credit losses on notes receivable	89		—		(9)			—		80
Deferred tax valuation allowance	1,568		—		641			—		2,209
Year Ended December 31, 2020
Allowance for credit losses on accounts receivable	$	2,584	$	—	$	2,530	(1)	$	(418)	$	4,696
Allowance for product returns	1,075		1,795		—			(1,390)		1,480
Allowance for credit losses on notes receivable	16		—		90		(1)	(17)		89
Deferred tax valuation allowance	322		—		1,246			—		1,568

_______________

(1) Includes the 2020 impact of the adoption of Topic 326 of $0.4 million for the allowance for credit losses on accounts receivable and $0.4 million for the allowance for credit losses on note receivable.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Principles of Consolidation

Our consolidated financial statements include our accounts and those of our majority-owned and controlled subsidiaries after elimination of intercompany accounts and transactions. Equity investments over which we are able to exercise significant influence but do not control the investee are accounted for using the equity method.

We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity, or VIE. Voting interest entities are entities that have sufficient equity and provide equity investor voting rights that give them power to make significant decisions relating to the entity’s operations. The usual condition for a controlling financial interest in a voting interest entity is ownership of a majority voting interest. In VIEs, a controlling financial interest is attained through means other than voting rights and the entities lack one or more of the characteristics of a voting entity.

We have unconsolidated equity investments in third-party businesses. Equity investments with readily determinable fair values are recorded at fair value. Equity investments without readily determinable fair values are recorded using the measurement alternative. Under the measurement alternative, we measure investments without readily determinable fair values at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments. We make a separate election to use the measurement alternative for each eligible investment, and reassess whether an investment qualifies for the alternative at each reporting period. Adjustments resulting from impairment, fair value or observable price changes are recorded in other (expense) / income, net in our consolidated statements of operations.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. As of the date of issuance of these financial statements, we are not aware of any specific event or circumstance that would require us to update our estimates, assumptions and judgments or revise the carrying value of our assets or liabilities. However, our estimates, judgments and assumptions are continually evaluated based on available information and experience and may change as new events occur and additional information is obtained. The global economy, credit markets and financial markets have and may continue to experience significant volatility as a result of significant worldwide events, including public health crises, such as the COVID-19 pandemic, and geopolitical upheaval, such as Russia’s incursion into Ukraine (collectively, the Macroeconomic Conditions). These Macroeconomic Conditions have and may continue to create supply chain disruptions, inventory disruptions, and fluctuations in economic growth, including fluctuations in employment rates, inflation, energy prices and consumer sentiment. In particular, the COVID-19 pandemic also disrupted and may intermittently continue to disrupt our sales channels due to restrictions imposed from time to time on our service providers’ ability to meet with residential and commercial property owners who use our solutions. It remains difficult to assess or predict the ultimate duration and economic impact of the Macroeconomic Conditions including, the path of the COVID-19 pandemic, the evolution of COVID-19 variants or the emergence of other public health crises. Because of the use of estimates inherent in the financial reporting process and in light of the continuing uncertainty arising from the Macroeconomic Conditions, actual results could differ from those estimates and any such differences may be material. Estimates are used when accounting for revenue recognition, allowances for credit losses, allowance for hardware returns, estimates of obsolete inventory, long-term incentive compensation, the lease term and incremental borrowing rates for leases, stock-based compensation, income taxes, legal reserves, fair value of the debt component of convertible notes, goodwill, intangible assets and other long-lived assets.

Reclassifications

Certain previously reported amounts in the income taxes footnote for the year ended December 31, 2020 have been reclassified to conform to our current presentation, including the removal of the change in tax rate line of the reconciliation between the federal statutory rate and the effective income tax rate.

Cash and Cash Equivalents

Cash and Cash EquivalentsWe consider all highly liquid instruments purchased with an original maturity from the date of purchase of three months or less to be cash equivalents.

Accounts Receivable and Notes Receivable

Accounts ReceivableAccounts receivable are principally derived from sales to customers located in the United States and Canada. Substantially all of our sales in Canada are transacted in U.S. dollars. Our accounts receivable are stated at estimated realizable value.Notes ReceivableNotes receivable are presented net of an allowance for uncollectibility, if any. We accrue interest on notes receivable based on the contractual terms of the note. Outstanding notes receivable that are aged 30 days or more from the contractual payment date are considered past due. Notes receivable are evaluated for impairment at least quarterly. Impairment occurs when it is deemed probable that we will not be able to collect all amounts due according to the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value and the probability of collecting payments when due.

Restricted Cash

Restricted CashWe consider all cash reserved for a specific use and not available for immediate or general business use to be restricted cash.

Credit Losses

The allowance for credit losses is a valuation account that is deducted from the accounts receivable and notes receivable amortized cost basis to present the net amount expected to be collected. We estimate the allowance balance by applying the loss-rate method using relevant available information from internal and external sources, including historical write-off activity, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes in economic conditions, such as changes in unemployment rates. We use projected economic conditions over a period no more than twelve months based on data from external sources. For periods beyond the twelve-month reasonable and supportable forecast period, we revert to historical loss information immediately.

The allowance for credit losses is measured on a pooled basis when similar risk characteristics exist. When assessing whether to measure certain financial assets on a pooled basis, we considered various risk characteristics, including the financial asset type, size and the historical or expected credit loss pattern. These risk characteristics are relevant to accounts receivable and notes receivable. We identified the following two portfolio segments for our accounts receivable: (i) outstanding accounts receivable balances within Alarm.com and certain subsidiaries and (ii) outstanding accounts receivable balances within all other subsidiaries. We identified the following two portfolio segments for our notes receivable: (i) loan receivables and (ii) hardware financing receivables. There were no changes to our portfolio segments during the years ended December 31, 2022 and 2021, and no changes to our policies or practices involving the issuance of notes receivable, customer acquisitions or any other factors that influenced our estimate of expected credit losses. Additionally, there were no significant changes in the amount of accounts receivable or notes receivable write-offs during the year ended December 31, 2022 as compared to historical periods other than a partial accounts receivable write-off of $0.7 million related to one of our distribution partners' outstanding balance during the year ended December 31, 2021. There were no purchases or sales of financial assets during the years ended December 31, 2022 and 2021. There were no hardware financing receivables outstanding as of December 31, 2022.

Expected credit losses are estimated over the contractual term of the financial assets and we adjust the term for expected prepayments when appropriate. For the years ended December 31, 2022 and 2020 we recorded credit loss expense of $0.8 million and $1.7 million in general and administrative expense in our consolidated statements of operations, respectively. For the year ended December 31, 2021, we recorded a reduction to credit loss expense of $1.0 million in general and administrative expense in our consolidated statements of operations. The contractual term excludes expected extensions, renewals and modifications because extension and renewal options are unconditionally cancelable by us. Write-offs of the amortized cost basis are recorded to the allowance for credit losses. Any subsequent recoveries of previously written off balances are recorded as a reduction to credit loss expense.

We do not accrue interest on notes receivable that are considered impaired or are 90 days or greater past due based on their contractual payment terms. Notes receivable that are 90 days or greater past due are placed on nonaccrual status. Notes receivable may be placed on nonaccrual status earlier if, in management’s opinion, a timely collection of the full principal and interest becomes uncertain. After a note receivable has been placed on nonaccrual status, interest will be recognized when cash is received. A note receivable may be returned to accrual status after all of the customer’s delinquent balances of principal and interest have been settled, and collection of all remaining contractual amounts due is reasonably assured. We have elected not to measure an allowance for credit losses for accrued interest receivables. We write-off any accrued interest on notes receivable that are considered impaired or are 90 days or greater past due based on their contractual payment terms by reversing interest income. The accrued interest receivable as of December 31, 2022 and 2021 was less than $0.1 million and is reflected in other current assets within our consolidated balance sheets and excluded from the amortized cost basis of the notes receivable. We did not write-off any accrued interest receivable during the years ended December 31, 2022, 2021 and 2020.

Inventory

Our inventory, which is comprised of raw materials and finished goods, includes materials used to produce our wireless communications network enabled radios, video cameras, video recorders, gunshot detection sensors, home automation system parts and peripherals, is stated at the lower of cost or net realizable value, and is charged to cost of sales primarily on a first in, first out, or FIFO, basis when the inventory is shipped from our manufacturer and received by our service provider partners. We periodically evaluate our inventory quantities for obsolescence based on criteria such as customer demand and changing technology and record an obsolescence write-off when necessary.

Leases

We determine if an arrangement contains a lease at the inception of the arrangement. As part of the lease determination process, we assess several factors, including, but not limited to, whether we have the right to control and direct the use of the asset and whether the other party has a substantive substitution right. If we enter into leases that contain multiple components, we identify separate lease components based on whether or not the right to use the underlying assets is distinct and either highly dependent or highly interrelated with other rights in the contract. We also evaluate whether there are any non-lease components in the arrangement. For certain classes of underlying assets, such as data centers, we have elected not to separate non-lease components from lease components. For all other classes of underlying assets, if separate lease and non-lease components are identified, we allocate the consideration in the contract to the lease and non-lease components using the relative stand-alone selling price method at the lease inception.

Many of our leases include options to renew at our sole discretion. We also have several leases that provide us an option to terminate the lease prior to the end of the lease term. These renewal and termination options are included in the lease term at the commencement date when we are reasonably certain the options will be exercised. When assessing the likelihood of electing these options, we consider the length of the renewal period, market conditions, our expansion plans, the existence of a termination penalty, as well as other factors. Our lease agreements do not contain any material residual value guarantees, restrictive covenants or variable lease payments.

Right-of-use, or ROU, assets represent our right to use an underlying asset for the term of the lease and lease liabilities represent our obligation to make lease payments throughout the term of the lease. ROU assets and lease liabilities are recognized as of the commencement date of the lease based on the present value of contractual lease payments due over the term of the lease. We use our incremental borrowing rate to determine the present value of the lease payments, as our leases do not state the rate implicit in the lease. Our incremental borrowing rate is determined on a collateralized basis at the commencement date of the lease.

ROU assets and lease liabilities resulting from operating leases are recorded on our consolidated balance sheets. We did not have any finance leases or subleases as of December 31, 2022 and 2021.

Lease expense is recognized on a straight-line basis over the term of the lease and is recorded in general and administrative expense. Some of our leases include tenant improvement allowances, which are recorded when we are reasonably certain to utilize the allowance and are amortized on a straight-line basis over the shorter of the lease terms or the asset lives. Leases with an initial lease term of twelve months or less are considered short-term leases. Short-term leases are

not recorded on our consolidated balance sheets. Expenses associated with short-term leases are recognized on a straight-line basis over the term of the lease and are recorded in general and administrative expense.

Convertible Senior Notes

On January 20, 2021, we issued $500.0 million aggregate principal amount of 0% convertible senior notes due January 15, 2026 in a private placement to qualified institutional buyers, or the 2026 Notes. Prior to the January 1, 2022 adoption of Accounting Standards Update, or ASU, 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity," we separated the 2026 Notes into liability and equity components. In accounting for the issuance of our convertible senior notes, the carrying amount of the liability component was calculated by measuring the fair value of a similar liability that did not have an associated convertible feature, using a discounted cash flow model with a risk adjusted yield. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the 2026 Notes as a whole. This difference between the aggregate principal amount and the liability component represented a debt discount that was amortized to interest expense using the effective interest method over the term of the notes. Transaction costs attributable to the liability component were netted with the liability component and amortized to interest expense using the effective interest method over the term of the 2026 Notes. Transaction costs attributable to the equity component were netted with the equity component of the notes in additional paid-in capital in the consolidated balance sheets. The equity component was not remeasured as long as it continued to meet the conditions for equity classification.

Redeemable Noncontrolling Interests

Redeemable Noncontrolling InterestsNoncontrolling interests with redemption features that are not solely within our control are considered redeemable noncontrolling interests. Our redeemable noncontrolling interests relate to our 85% equity ownership interest in PC Open Incorporated, a Washington corporation, doing business as OpenEye and our 85% equity ownership interest in Noonlight, Inc., or Noonlight, a Delaware corporation (see Note 7). The OpenEye and Noonlight stockholder agreements contain a put option that gives the minority stockholders the right to sell their shares to us based on the fair value of the shares and also contain a call option that gives us the right to purchase the remaining shares from the minority stockholders based on the fair value of the shares. The put and call options related to OpenEye can each be exercised beginning in the first quarter of 2023. The put and call options related to Noonlight can each be exercised beginning in the first quarter of 2026. These redeemable noncontrolling interests are considered temporary equity and we report them between liabilities and stockholders’ equity in the consolidated balance sheets. The amount of the net income or loss attributable to the redeemable noncontrolling interests are recorded in the consolidated statements of operations and the accretion of the redemption values are recorded as an adjustment to additional paid-in capital.

Internal-Use Software

We capitalize the costs directly related to the development of internal-use software for our platforms during the application development stage of the projects. Such costs primarily include payroll and payroll-related costs for engineers and product development employees directly associated with the development project. Our internal-use software is reported at cost less accumulated depreciation. Depreciation begins once the project is ready for its intended use, which is usually when the code goes into production in weekly software builds on our platforms. We depreciate the asset on a straight-line basis over a period of three years, which is the estimated useful life. We update our software for our SaaS multi-tenant platforms on a weekly basis utilizing continuous agile development methods, which primarily consists of bug-fixes and user interface changes. We evaluate whether a project should be capitalized if it adds significant functionality to our platforms. Maintenance activities or minor upgrades are expensed in the period performed.

External Software and Research and Development

External SoftwareCosts incurred in researching and developing a computer software product that will be marketed and sold are charged to expense when incurred until technological feasibility is established. Technological feasibility is established upon completion of a detailed program design or, in its absence, completion of a working model. After technological feasibility is established, certain payroll and payroll-related costs are capitalized for engineers and product development employees directly associated with the development project. Cost capitalization ceases when the product is available for general release. Our non-hosted software is typically developed in an agile environment with frequent revisions to product release features and functions. Agile development results in a short duration between completion of the detailed program design and beta release.

Research and Development

Our research and development costs consist primarily of personnel and related expenses for our employees working on our product development and software and device engineering teams, including salaries, bonuses, stock-based compensation, benefits and other personnel costs. Our research and development of new products and services is a multidisciplinary effort across our product management, program management, software engineering, device engineering, quality engineering, configuration management and network operations teams. Also included are non-personnel costs, such as consulting and professional fees paid to third-party development resources as well as acquisition costs of in-process research and development with no alternative future use. We invest substantial resources in research and development to enhance our platforms and applications, support our technology infrastructure, develop new capabilities and conduct quality assurance testing.

Revenue Recognition

We derive our revenue from three primary sources: the sale of cloud-based SaaS services on our integrated Alarm.com platform, the sale of licenses and services on our non-hosted software platform, or Software platform, and the sale of hardware products. We sell our platform and hardware solutions to service provider partners that resell our solutions and hardware to residential and commercial property owners, who are the service provider partners’ customers. Our subscribers consist of all of the properties maintained by those residential and commercial property owners to which we are delivering at least one of our solutions. We also sell our hardware to distributors who resell the hardware to service provider partners. We enter into contracts with our service provider partners that establish pricing for access to our platform solutions and for the sale of hardware. These service provider contracts typically have an initial term of one year, with subsequent renewal terms of one year. 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 hardware includes cellular radio modules that enable access to our cloud-based platforms, as well as video cameras, video recorders, image sensors, gunshot detection sensors and other peripherals. Our service provider partners may purchase our hardware in anticipation of installing the hardware in a residential or commercial property when they create a new subscriber account, or for use in existing subscriber properties. The purchase of hardware occurs in a transaction that is separate and typically in advance of the purchase of our platform services. The performance obligation is primarily satisfied when the hardware is received by our service provider partner or distributor. Service provider partners transact with us to purchase our platform solutions and resell our solutions to a new subscriber, or to upgrade or downgrade the solutions of an existing subscriber, at which time the subscriber’s access to our platform solutions is enabled and the delivery of the services commences. Our performance obligation related to providing our platform solutions is satisfied on a daily basis as the subscriber uses the platform services. The purchase of platform solutions and the purchase of hardware are separate transactions as revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. We generate all of our revenue from contracts with customers.

SaaS and license revenue associated with our contracts is invoiced and revenue is recognized at an amount that corresponds directly with the value of the performance completed to date. Additionally, the consideration received from hardware sales corresponds directly with the stand-alone selling price of the hardware. As a result, we have elected to use the practical expedient related to the amount of transaction price allocated to the unsatisfied performance obligations and therefore, we have not disclosed the total remaining revenue expected to be recognized on all contracts or the expected period over which the remaining revenue would be recognized.

To determine the transaction price, we analyze all of the performance obligations included in the contract. We consider the terms of the contract and our customary business practices, which typically do not include financing components or non-cash consideration. We have variable consideration in the form of retrospective volume discounts, rebate incentives and restocking fees. The significant inputs related to our estimates of variable consideration include the volume and amount of products and services sold historically and expected to be sold in the future, the availability and performance of our services and the historical and expected number of returns. Depending on the type of variable consideration and its predictability, we may apply an "expected value" approach or a "most likely amount" approach. We estimate the variable consideration at the onset of a contract and include the variable consideration within the transaction price if it is probable that a significant reversal of the variable consideration would not occur in the future. When determining whether the amount of variable consideration included in the transaction price should be constrained, we look at the history of hardware purchased and subscribers added by our service provider partners to estimate the likelihood of those service provider partners obtaining the retrospective volume discounts and rebates. At times, our contracts include consideration payable to a customer in the form of fixed discounts or rebates. We record the consideration payable to a customer as a reduction to the transaction price resulting in a reduction to revenue over the service period.

If we enter into contracts that contain multiple promised services, we evaluate which of the promised services represent separate performance obligations based on whether or not the promised services are distinct and whether or not the services are separable from other promises in the contract. If these criteria are met, then we allocate the transaction price to the performance obligations using the relative stand-alone selling price method at contract inception.

In determining the relative estimated selling prices, we consider market conditions, entity-specific factors and information about the customer or class of customer. Any discount within the contract is allocated proportionately to all of the separate performance obligations in the contract unless the terms of discount relate specifically to the entity’s efforts to satisfy some but not all of the performance obligations.

For our standard service provider agreements, we have used a portfolio approach for purposes of revenue recognition, as each agreement has similar characteristics and we do not expect the effects of applying this approach would have a material impact on our financial statements as compared to assessing each agreement individually.

SaaS and License Revenue

We generate the majority of our SaaS and license revenue primarily from monthly fees charged to our service provider partners sold on a per subscriber basis for access to our cloud-based intelligently connected property platform and related solutions. Our fees per subscriber vary based upon the service plan and features utilized.

Under the terms of our contractual arrangements with our service provider partners, we bill a monthly fee to our service provider partners in advance of the month of service, with the exception of the initial partial month of service, which is paid in arrears. Due to the limited period of time between receipt of payment and delivery of service, we have not accounted for these advance payments as significant financing components. We typically transfer the promised SaaS services to our customers over time, which is evidenced by the fact that the customers receive and consume the benefits provided by our performance of the services as such services are rendered. As a result, we recognize revenue from SaaS services on a monthly basis as we satisfy our performance obligations over the period of service. We have demonstrated that we can sell our SaaS offering on a stand-alone basis, as it can be sold separately from hardware and activation services. Our service provider partners typically incur and pay the same monthly fee per subscriber account for the entire period a subscriber account is active.

We offer multiple service level packages for our platform solutions including a range of solutions and a range of a la carte add-ons for additional features. The fee paid by our service provider partners each month for the delivery of our solutions is based on the combination of packages and add-ons enabled for each subscriber. We utilize tiered pricing plans where our service provider partners may receive prospective pricing discounts driven by volume.

We also generate SaaS and license revenue from the fees paid to us when we license our intellectual property to third parties for use of our patents. We bill a monthly fee to third parties based on the number of customers that were active during the prior month. We apply the usage-based royalty exception to recognize license revenue because the sole or predominant item to which the royalty relates is the license of intellectual property. Under the usage-based royalty exception, we recognize revenue on a monthly basis over the period of service. In addition, in certain markets, our EnergyHub subsidiary sells its demand response service for an annual service fee, with pricing based on the number of subscribers or amount of aggregate electricity demand made available for a utility’s or market’s control.

Software License Revenue

Our SaaS and license revenue also includes our software license revenue from monthly fees charged to service providers on a per subscriber basis for access to our Software platform. The non-hosted software for interactive security, automation and related solutions is typically deployed and operated by the service provider in its own network operations center. Our agreements for the Software platform solution typically include software and services, such as post-contract customer support, or PCS. Software sales that include multiple elements are typically allocated to the various elements using the relative stand-alone selling price method. We apply the usage-based royalty exception to recognize license revenue associated with software hosted by our customers because the predominant item to which the royalty relates is the license of intellectual property. Under the usage-based royalty exception, we recognize revenue on a monthly basis over the period during which the services are expected to be performed. Under the terms of our contractual arrangements with our service provider partners, we are entitled to payment of a monthly fee that is billed per subscriber for the month of service. Our software license revenue during the years ended December 31, 2022, 2021 and 2020 was $26.8 million, $32.3 million and $38.0 million, respectively.

Hardware and Other Revenue

We generate hardware and other revenue primarily from the sale of video cameras, video recorders and cellular radio modules that provide access to our cloud-based platforms and, to a lesser extent, the sale of other devices, including image sensors, gunshot detection sensors and other peripherals. We primarily transfer hardware to our customers upon delivery to the customer, which corresponds with the time at which the customer obtains control of the hardware. As a result, we recognize hardware and other revenue as we satisfy our performance obligations, which primarily occurs when the hardware is received by our service provider partner or distributor, net of a reserve for estimated returns. There are a few contracts in which we provide shipping and handling services to the customer after control of the hardware transfers to the customer. In these instances, we have elected to account for shipping and handling costs as activities performed to fulfill the promise to transfer hardware to the customer and not as a separate promised service.

Amounts due from the sale of hardware are payable in accordance with the terms of our agreements with our service provider partners or distributors, and are not contingent on resale to end-users, or to service provider partners in the case of sales of hardware to distributors. Payment for our hardware is typically due within 30 days from shipment. Our distributors sell directly to our service provider partners under terms between the two parties.

When determining the amount of consideration we expect to be entitled to for the sale of our hardware, we estimate the variable consideration associated with customer returns. We record a reserve against revenue for hardware returns based on historical returns. For each of the years ended December 31, 2022, 2021 and 2020, our reserve against revenue for hardware returns was approximately 1% of hardware and other revenue. We evaluate our hardware reserve on a quarterly basis or if there is an indication of significant changes in return experience. Historically, our returns of hardware have not significantly differed from our estimated reserve. Additionally, we provide warranties related to the intended functionality of the products and services provided and those warranties typically allow for the return of hardware up to one year past the date of sale. We determined that these warranties are not separate performance obligations as they cannot be purchased separately and do not provide a service in addition to an assurance the hardware will function as expected.

Our hardware and other revenue also includes our revenue from the sale of perpetual licenses that provide our customers in the commercial market the right to use our OpenEye video surveillance software for an indefinite period of time in exchange for a one-time license fee, which is generally paid at contract inception. Our hardware and other revenue also includes our revenue from Shooter Detection Systems related to the sale of licenses that provide our customers the right to use our indoor gunshot detection solution in exchange for license fees, which are generally paid at contract inception. Our perpetual licenses and licenses to our indoor gunshot detection solution provide a right to use intellectual property that is functional in nature and has significant stand-alone functionality. Accordingly, for licenses of functional intellectual property, revenue is recognized at the point-in-time when control has been transferred to the customer, which occurs once the software has been made available to the customer.

Hardware and other revenue may also include activation fees charged to some of our service provider partners for activation of a new subscriber account on our platforms, as well as fees paid by service provider partners for our marketing services. Our service provider partners use services on our platforms, such as support tools and applications, to assist in the installation of our solutions in subscriber properties. This installation marks the beginning of the service period on our platforms and, on occasion, we earn activation revenue for fees charged for this service. The activation fee is non-refundable, separately negotiated and specified in our contractual arrangements with our service provider partners and is charged to the service provider partner for each subscriber activated on our platforms. The decision whether to charge an activation fee is based in part on the expected number of subscribers to be added by our service provider partners and as a result, many of our largest service provider partners do not pay an activation fee. Activation fees are not offered on a stand-alone basis separate from our SaaS offering and are billed and received at the beginning of the arrangement. We record activation fees initially as deferred revenue and we recognize these fees ratably over the expected term of the subscribers’ account which we estimate is 10 years based on our annual attrition rate. The portion of these activation fees included in current and long-term deferred revenue as of our balance sheet date represents the amounts that will be recognized ratably as revenue over the following twelve months, or longer as appropriate, until the ten-year expected term is complete. The balance of deferred revenue for activation fees was $5.3 million and $6.0 million as of December 31, 2022 and 2021, respectively, which combines current and long-term balances.

Cost of Revenue

Our cost of SaaS and license revenue primarily includes the amounts paid to wireless network providers and, to a lesser extent, the costs of running our network operations centers which are expensed as incurred, as well as patent and royalty costs in connection with technology licensed from third-party providers and amounts paid to distributed energy resource providers. Our cost of SaaS and license revenue also includes our cost of software license revenue, which primarily includes the payroll and payroll-related costs of the department dedicated to providing service exclusively to those service providers that host the Software platform. Our cost of software license revenue during the years ended December 31, 2022, 2021 and 2020 was $0.5 million, $1.1 million and $1.3 million, respectively. Our cost of hardware and other revenue primarily includes cost of raw materials, tooling, freight shipments and amounts paid to our third-party manufacturer for production and fulfillment of our cellular radio modules and image sensors, and procurement costs for our video cameras, video recorders and gunshot detection sensors, which we purchase from an original equipment manufacturer, and other devices. Additionally, our cost of hardware and other revenue includes royalty costs in connection with technology licensed from third-party providers.

We record the cost of SaaS and license revenue as expenses are incurred, which corresponds to the delivery period of our services to our subscribers. We record the cost of hardware and other revenue primarily when the hardware and other services are delivered to the service provider partner, which occurs when control of the hardware and other services transfers to the service provider partner. Our cost of revenue excludes amortization and depreciation shown in operating expenses.

Contract Asset and Contract Liability Balances

At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each distinct promise to transfer a good or service, or bundle of goods or services. To identify the performance obligations, we consider all of the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. We record a contract asset when we satisfy a performance obligation by transferring a promised good or service. Contract assets can be conditional or unconditional depending on whether another performance

obligation must be satisfied before payment can be received. We receive payments from our service provider partners based on the billing schedule established in our contracts. All of the accounts receivable presented in the consolidated balance sheets represent unconditional rights to consideration. We do not have any assets from contracts containing conditional rights and we do not have any assets from satisfied performance obligations that have not been invoiced.

We recognize an asset related to the costs incurred to obtain a contract only if we expect to recover those costs and we would not have incurred those costs if the contract had not been obtained. We recognize an asset from the costs incurred to fulfill a contract if the costs (i) are specifically identifiable to a contract, (ii) enhance resources that will be used in satisfying performance obligations in future and (iii) are expected to be recovered. Our assets related to costs incurred to obtain a contract consist of capitalized commission costs and upfront payments made to a customer. Based on the policy above, we capitalize a portion of our commission costs as an incremental cost of obtaining a contract. When calculating the incremental cost of obtaining a contract, we exclude any commission costs related to metrics that could be satisfied without obtaining a contract, including training-related metrics. We amortize our commission costs over a period of three years, which is consistent with the period over which the products and services related to the commission are transferred to the customer. The three-year period was determined based on our review of historical enhancements and upgrades to our products and services. We applied the portfolio approach to account for the amortization of contract costs for those contracts that have similar characteristics. Upfront payments made to a customer are capitalized and amortized over the expected period of benefit and are recorded as a reduction to revenue.

Contract liabilities include payments received in advance of performance under the contract and are realized with the associated revenue recognized under the contract. All of the deferred revenue presented in the consolidated balance sheets represents contract liabilities resulting from advance cash receipts from customers or amounts billed in advance to customers from the sale of services. Changes in deferred revenue are due to our performance under the contract as well as to cash received from new contracts for which services have not been provided.

Fair Value Measurements

The accounting standard for fair value measurements provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. This accounting standard established a fair value hierarchy, which requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date;

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for similar assets and liabilities, either directly or indirectly; quoted prices in markets that are not active; and

Level 3 - Unobservable inputs supported by little or no market activity.

The carrying amount of financial assets, including cash and cash equivalents and accounts receivable, as well as accounts payable approximates fair value because of the short maturity and liquidity of those instruments.

Assets and Liabilities Measured at Fair Value on a Recurring Basis - In 2022 and 2021, we recorded assets for our money market accounts. In 2021 and prior to the termination of the long-term incentive plan with one of our subsidiaries in May 2022, we recorded liabilities for the long-term incentive plan at fair value on a recurring basis with any changes recorded as a cumulative adjustment. During parts of 2020, we recorded liabilities for a contingent consideration liability related to acquisitions at fair value on a recurring basis.

Assets Measured at Fair Value on a Nonrecurring Basis - We measure certain assets, including property and equipment, goodwill and intangible and long-lived assets at fair value on a nonrecurring basis. These assets are recognized at fair value

when they are deemed to be other-than-temporarily impaired. Additionally, equity investments without readily determinable fair values are recognized at fair value on a nonrecurring basis when observable price changes from orderly transactions for identical or similar investments become available.The contingent consideration liability consisted of the potential earn-out payment related to our acquisition of 85% of the issued and outstanding capital stock of OpenEye on October 21, 2019. The earn-out payment was contingent on the satisfaction of certain calendar 2020 revenue targets and had a maximum potential payment of up to $11.0 million. During parts of 2019 and 2020, we accounted for the contingent consideration using fair value and established a liability for the future earn-out payment based on an estimation of revenue attributable to perpetual licenses and subscription licenses over the 2020 calendar year. The contingent consideration liability was valued with significant unobservable inputs, including the revenue volatility and the discount rate. Selecting another revenue volatility or discount rate within an acceptable range would not have resulted in a significant change to the fair value of the contingent consideration liability. As of October 21, 2019, the fair value of the liability was $2.8 million. At each reporting date until December 31, 2020, we remeasured the liability, using the same valuation approach. Changes in the fair value resulting from information that existed subsequent to the acquisition date were recorded in general and administrative expense in our consolidated statements of operations. As of December 31, 2020, the 2020 revenue targets were not met and the fair value of the contingent consideration related to the potential earn-out payment decreased to zero as compared to the initial liability recorded at the acquisition date, primarily due to OpenEye's 2020 actual revenue being less than the projected revenue. All contingencies related to the contingent consideration liability were resolved as of December 31, 2020 and no further estimates were necessary as of December 31, 2022

Concentration of Credit Risk

The financial instruments that potentially subject us to concentrations of credit risk consists principally of cash and cash equivalents and accounts receivables. All of our cash and cash equivalents are held at financial institutions that management believes to be of high credit quality. Our cash and cash equivalent accounts may exceed federally insured limits at times. We have not experienced any losses on cash and cash equivalents to date. To manage accounts receivable risk, we evaluate the credit worthiness of our service provider partners and maintain an allowance for credit losses. The majority of our accounts receivable balance is due from our service provider partners in North America. We assess the concentrations of credit risk with respect to accounts receivables based on one industry and one geographic region and believe that our reserve for uncollectible accounts is appropriate based on our history and this concentration.

Stock-Based Compensation

We compensate our executive officers, board of directors, employees and consultants with stock-based compensation plans under our 2015 Equity Incentive Plan, or 2015 Plan. We record stock-based compensation expense related to time-based restricted stock units based upon the award’s grant date fair value and use an accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the service inception date to the vesting date for that tranche. We record stock-based compensation expense related to performance-based restricted stock units based on management’s determination of the probable outcome of the performance conditions and we record a cumulative adjustment in periods in which there is a change in the estimated number of shares expected to vest. Our equity awards generally vest over five years and are settled in shares of our common stock. During 2022, 2021 and 2020, we recognized compensation expense of $52.7 million, $38.7 million and $29.2 million, respectively, and associated tax windfall benefit from stock-based awards of $2.0 million, $10.1 million and $8.2 million, respectively. We account for stock-based compensation arrangements with non-employees based upon the award’s grant date fair value. We estimate the fair value of each option granted on the date of the grant using the Black-Scholes option-pricing model, which contains uncertainties and requires us to estimate the risk-free interest rate, expected term, expected stock price volatility and dividend yield. In prior years, we used the "simplified method" to calculate the expected term, which was presumed to be the mid-point between the vesting date and the end of the contractual term. Beginning upon the first grant of options in 2022, the expected term for options granted is estimated using our historical experience, including information related to options we have granted.

Our Employee Stock Purchase Plan, or 2015 ESPP, allows eligible employees to purchase shares of our common stock at 90% of the fair market value of the closing price on the purchase date. The maximum number of shares of our common stock that a participant may purchase during any calendar year is limited to the lesser of 10% of the participant's base compensation for that year or the number of shares with a fair market value of $15,000. The 2015 ESPP is considered compensatory for purposes of share-based compensation expense. Compensation expense is recognized for the amount of the discount, net of actual forfeitures, over the six-month purchase period.

We account for stock-based compensation options based on the fair value of the award as of the grant date. We recognize stock-based compensation expense using the accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the service inception date to the vesting date for that tranche.

We value our stock options using the Black-Scholes option pricing model, which requires the input of subjective assumptions, including the risk-free interest rate, expected term, expected stock price volatility and dividend yield. The risk-free interest rate assumption is based upon observed interest rates for constant maturity U.S. Treasury securities consistent with the expected term of our stock options. In prior years, we used the "simplified method" to calculate the expected term, which was presumed to be the mid-point between the vesting date and the end of the contractual term. Beginning upon the first grant of options in 2022, the expected term for options granted is estimated using our historical experience, including information related to options we have granted. The expected volatility for options granted is based on historical volatilities of our stock over the estimated expected term of the stock options.

We account for RSUs based on the fair value of the award as of the grant date. We recognize stock-based compensation expense for time-based RSUs using the accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the grant date to the vesting date for that tranche.

401(k) Defined Contribution Plan

401(k) Defined Contribution PlanWe adopted the Alarm.com Holdings 401(k) Plan, or the Plan, on April 30, 2009. All of our employees are eligible to participate in the Plan. For the years ended December 31, 2022, 2021 and 2020, our discretionary match was 100% of employee contributions up to 10% of salary and up to a $5,000 maximum match.

Business Combinations

We are required to allocate the purchase price of acquired companies to the identifiable tangible and intangible assets acquired and liabilities assumed at the acquisition date based upon their estimated fair values. The net assets and results of operations of an acquired entity are included in our consolidated financial statements from the acquisition date. Acquisition-related costs are expensed as incurred. Goodwill as of the acquisition date represents the excess of the purchase consideration of an acquired business over the fair value of the underlying net tangible and intangible assets acquired net of liabilities assumed. This valuation requires management to apply significant judgment in estimating the fair value of long-lived and intangible assets acquired, which involves the use of significant estimates and assumptions.

Significant estimates and assumptions in valuing certain acquired customer relationship intangible assets include estimates about future expected cash flows and discount rates. Significant estimates and assumptions in valuing acquired developed technology intangible assets include estimates about future expected cash flows, obsolescence factors and discount rates.

Significant estimates and assumptions in valuing acquired trade name intangible assets include estimates about future expected cash flows, royalty rates and discount rates.

During the measurement period, we may record adjustments to the assets acquired and liabilities assumed. Any adjustments to provisional amounts that are identified during the measurement period are recorded in the reporting period in which the adjustment amounts are determined. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.

Some acquisitions may include contingent consideration, which is an obligation to make future payments to the seller contingent upon the achievement of future operational or financial targets. We estimated the fair value of the contingent consideration liability by using a Monte Carlo simulation model for determining each of the projected measures by using an expected distribution of potential outcomes. Significant estimates and assumptions in valuing contingent consideration include estimates about future financial results, revenue volatility and the discount rate. The fair value of the contingent consideration is estimated on a quarterly basis and changes in the fair value of the contingent consideration resulting from information that existed subsequent to the acquisition date are recorded in the consolidated statements of operations.

Goodwill, Intangible Assets and Long-lived Assets

Goodwill

Goodwill represents the excess of (1) the aggregate of the fair value of consideration transferred in a business combination, over (2) the fair value of assets acquired, net of liabilities assumed. Goodwill is allocated to our reporting units, which are our operating segments or one level below our operating segments. Goodwill is not amortized, but is subject to annual impairment tests. We perform our annual impairment review of goodwill on October 1 and when a triggering event occurs between annual impairment tests. We test our goodwill at the reporting unit level. We perform either a qualitative analysis or a quantitative analysis every year depending on the changes to our goodwill balance as well as changes in our business and the economy. Qualitative factors we consider include, but are not limited to, macroeconomic conditions, industry and market conditions, company specific events, changes in circumstances and market capitalization. The amount of goodwill impairment is calculated as the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill.

For our 2022 annual impairment review, we performed a quantitative assessment for our Alarm.com reporting unit, our only reporting unit with a goodwill balance. Based on the results of our quantitative assessment, we determined that it was not more likely than not that the fair value of our reporting unit was less than its carrying amount, including goodwill. Therefore, we concluded that there was no goodwill impairment as of October 1, 2022. Our assessment was performed as of October 1, 2022, and we have determined there has been no triggering events that resulted in goodwill impairment from our assessment date through December 31, 2022.

Intangible Assets and Long-lived Assets

Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives. We evaluate the recoverability of our intangible assets with definite lives and long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability of intangible assets with definite lives and long-lived assets are measured by comparison of the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset.

Advertising Costs

Advertising CostsWe expense advertising costs as incurred.

Accounting for Income Taxes

We account for income taxes under the asset and liability method as required by accounting standards codification, or ASC 740, "Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that are included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. Due to the uncertainty of realization of certain deferred tax assets related to our Canadian net operating losses and research and development tax credits, we established a valuation allowance of $0.3 million during the second quarter of 2019, which remained at $0.3 million as of December 31, 2021 and, due to evidence indicating it was more likely than not that the Canadian tax attributes would be realized prior to expiration, the Canadian valuation allowance was reduced to zero as of December 31, 2022. During 2020, we established a valuation allowance of $1.3 million for state research and development tax credit carryforwards, which increased to $1.9 million as of December 31, 2021 and increased to $2.6 million as of December 31, 2022.

We are subject to income taxes in the United States and foreign jurisdictions based upon our business operations in those jurisdictions. Significant judgment is required in evaluating uncertain tax positions. We record uncertain tax positions in accordance with ASC 740-10 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position, and (2) with respect to those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. We record interest and penalties as a component of our income tax provision.

We recognize a valuation allowance if, based on the weight of available evidence, both positive and negative, it is more likely than not that some portion, or all, of net deferred tax assets will not be realized. We apply guidance for uncertainty in income taxes that requires the application of a more likely than not threshold to the recognition and de-recognition of uncertain tax positions. If the recognition threshold is met, this guidance permits us to recognize a tax benefit measured at the largest amount of the tax benefit that, in our judgment, is more likely than not to be realized upon settlement.

Treasury Stock

We account for treasury stock under the cost method and present treasury stock, including any applicable commissions and fees, as a component of stockholders’ equity in the consolidated balance sheets and statements of equity. Treasury stock held by us may be retired or reissued in the future.

Earnings per Share

Our basic net income per share attributable to common stockholders is calculated by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Our diluted net income per share attributable to common stockholders is calculated by giving effect to all potentially dilutive common stock when determining the weighted-average number of common shares outstanding. For purposes of the diluted net income per share calculation, restricted stock units, options to purchase common stock and unvested shares issued upon the early exercise of options that are subject to repurchase are considered to be potential common stock.

On January 20, 2021, we issued the 2026 Notes. Prior to the adoption of ASU 2020-06, since we expected to settle the principal amount on our outstanding 2026 Notes in cash and any excess in cash or shares of our common stock, we used the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread had a dilutive impact on diluted net income per share of common stock when the average market price of our common stock for a given period exceeded the conversion price of $147.19 per share for the 2026 Notes.

Upon adoption of ASU 2020-06 on January 1, 2022, we began using the if-converted method when calculating the dilutive impact of the 2026 Notes on net income per share. As a result, we included 3,396,950 shares related to the 2026 Notes within the weighted average shares outstanding when calculating the diluted net income per share. Additionally, we included debt issuance cost amortization, net of tax, within the numerator of the diluted net income per share.

Our redeemable noncontrolling interests are related to our 85% equity ownership interest in OpenEye and Noonlight. When calculating net income attributable to the common stockholders, net loss attributable to our redeemable noncontrolling interests should be excluded from net income. As a result, net income attributable to the common stockholders is equal to the net income less (i) dividends paid on unvested shares with any remaining earnings allocated in accordance with the bylaws between the

outstanding common and preferred stock and (ii) net loss attributable to redeemable noncontrolling interests as of the end of each period.

Recent Accounting Pronouncements

Adopted

On August 5, 2020, the Financial Accounting Standards Board, or FASB, issued ASU 2020-06, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The new guidance eliminates two of the three models in Subtopic 470-20 that require separating embedded conversion features from convertible instruments. The guidance also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. The amendment in this update is effective for fiscal years beginning after December 15, 2021.

We adopted ASU 2020-06 effective January 1, 2022, using a modified retrospective adoption method, which required us to record the initial effect of this guidance as a cumulative-effect adjustment to retained earnings on January 1, 2022. Upon adoption of ASU 2020-06, we recombined the liability and equity components of the convertible senior notes assuming that the instrument was accounted for as only a liability from inception to the date of adoption. We also recombined the liability and equity components of the debt issuance costs. The issuance costs are presented as a deduction from the outstanding principal balance of the convertible senior notes and are amortized to interest expense using the effective interest method over the contractual term of the convertible senior notes. We also removed the temporary difference between the book and tax treatment of the debt discount and adjusted the temporary difference between the book and tax treatment of the debt issuance costs of the convertible senior notes. The adoption resulted in the recording of the following increases / (decreases) on our consolidated balance sheets (in thousands):


Balance Sheet Caption	As of January 1, 2022
Deferred tax assets	$	15,356
Additional paid-in capital	(56,515)
Convertible senior notes, net	61,899
Retained earnings	9,972

Our net income attributable to common stockholders increased $2.0 million and $8.1 million during the three and twelve months ended December 31, 2022, respectively, as a result of adopting ASU 2020-06 due to no longer recording non-cash interest expense related to the amortization of the debt discount associated with the previous equity component of the convertible senior notes. Upon adoption of this guidance on January 1, 2022, we began using the if-converted method when calculating the dilutive impact of the convertible senior notes on net income per share, which required us to increase our diluted weighted average common shares outstanding by 3,396,950 shares for the three and twelve months ended December 31, 2022. The impact of ASU 2020-06 on net income attributable to common stockholders and weighted average diluted shares resulted in an increase to basic net income attributable to common stockholders of $0.04 and $0.16 per share and an increase to diluted net income attributable to common stockholders of $0.03 and $0.13 per share during the three and twelve months ended December 31, 2022, respectively. See Note 16 for details on the components of basic and diluted earnings per share.

On March 31, 2022, the FASB issued ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures," which includes requirements to disclose current period gross write-offs by year of origination for financing receivables. The amendment in this update is effective for fiscal years beginning after December 15, 2022, including interim periods with those fiscal years. Early adoption is permitted, including adoption in an interim period. The guidance over disclosing current period gross write-offs by year of origination for financial receivables should be applied prospectively. We adopted this guidance during the three months ended March 31, 2022 and there was no impact to the disclosures within the "Allowance for Credit Losses - Notes Receivable" section of Note 9 as there were no write-offs of notes receivable during the year ended December 31, 2022.

On October 28, 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 606): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers," which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. Generally, this should result in an acquirer recognizing and measuring the acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements, if the acquiree prepared financial statements in accordance with GAAP. The amendment in this update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We adopted this guidance during the three months ended September 30, 2022 and the adoption did not have a material impact on our consolidated financial statements during the year ended December 31, 2022. Any future financial impact will be dependent on the magnitude and nature of future business combinations.

Property and Equipment, Net

Property and Equipment, NetFurniture, fixtures and office equipment, computer software and hardware, leasehold improvements and real property and improvements are recorded at cost and presented net of depreciation. We record land at historical cost. During the application development phase, we record capitalized development costs in our construction in progress account and then reclassify the asset to internal-use software when the project is ready for its intended use, which is usually when the code goes into production. Furniture, fixtures and office equipment and computer software and hardware are depreciated on a straight-line basis over lives ranging from three to five years. Internal-use software is amortized on a straight-line basis over a three-year period. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease terms or the asset lives. Real property is amortized on a straight-line basis over lives ranging from 15 to 39 years and the improvements related to real property are amortized on a straight-line basis over the shorter of the life of the underlying real property or the asset lives.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements

The adoption resulted in the recording of the following increases / (decreases) on our consolidated balance sheets (in thousands):


Balance Sheet Caption	As of January 1, 2022
Deferred tax assets	$	15,356
Additional paid-in capital	(56,515)
Convertible senior notes, net	61,899
Retained earnings	9,972

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Changes in Contract Assets and Contract Liabilities

The changes in our contract assets are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of period balance	$	4,520	$	4,306	$	4,578
Commission costs and upfront payments to a customer capitalized in period	14,270		3,779		3,262
Amortization of contract assets	(4,815)		(3,565)		(3,534)
End of period balance	$	13,975	$	4,520	$	4,306

The changes in our contract liabilities are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of period balance	$	14,837	$	12,529	$	10,498
Revenue deferred and acquired in period	18,617		13,947		12,247
Revenue recognized from amounts included in contract liabilities	(15,122)		(11,639)		(10,216)
End of period balance	$	18,332	$	14,837	$	12,529

Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Schedule of Components of Accounts Receivable

The components of accounts receivable, net are as follows (in thousands):


	December 31,
	2022		2021
Accounts receivable	$	128,669	$	108,897
Allowance for credit losses	(2,835)		(2,168)
Allowance for product returns	(1,551)		(1,181)
Accounts receivable, net	$	124,283	$	105,548

Schedule of Changes in Allowance for Credit Losses for Accounts Receivable

The changes in our allowance for credit losses for accounts receivable are as follows (in thousands):


	Year Ended December 31, 2022				Year Ended December 31, 2021
	Alarm.com and Certain Subsidiaries		All Other Subsidiaries		Alarm.com and Certain Subsidiaries		All Other Subsidiaries
Beginning of period balance	$	(2,035)	$	(133)	$	(4,442)	$	(254)
(Provision for) / recovery of expected credit losses	(1,199)		43		860		(85)
Write-offs	479		10		1,547		206
End of period balance	$	(2,755)	$	(80)	$	(2,035)	$	(133)

The changes in our allowance for credit losses for notes receivable are as follows (in thousands):


	Year Ended December 31, 2022				Year Ended December 31, 2021
	Loan Receivables		Hardware Financing Receivables		Loan Receivables		Hardware Financing Receivables
Beginning of period balance	$	(79)	$	(1)	$	(73)	$	(16)

Recovery of / (provision for) expected credit losses	77		1		(6)		15
Write-offs	—		—		—		—
End of period balance	$	(2)	$	—	$	(79)	$	(1)

Inventory (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Components of Inventory

The components of inventory are as follows (in thousands):


	December 31,
	2022		2021
Raw materials	$	38,098	$	15,823
Finished goods	77,486		59,453
Total inventory	$	115,584	$	75,276

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

The components of property and equipment, net are as follows (in thousands):


	December 31,
	2022		2021
Furniture, fixtures and office equipment	$	9,078	$	8,124
Computer software and hardware	32,560		29,490
Internal-use software	8,949		8,957
Construction in progress	1,864		2,059
Leasehold improvements	31,532		30,219
Real property and improvements	10,495		9,252
Land	22,502		1,398
Total property and equipment	116,980		89,499
Accumulated depreciation	(59,808)		(47,786)
Property and equipment, net	$	57,172	$	41,713

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Consideration Paid and Fair Value of Tangible and Intangible Net Assets Acquired

The table below sets forth the purchase consideration and the preliminary allocation used to estimate the fair value of the tangible and intangible net assets acquired (in thousands):


	September 23, 2022
Calculation of Purchase Consideration:
Cash paid, net of working capital adjustment	$	31,840
Outstanding principal and interest of loan provided to Noonlight	1,537
Holdback consideration	4,910
Total consideration	$	38,287
Estimated Tangible and Intangible Net Assets:
Cash	$	188
Accounts receivable	291
Other current and non-current assets	200
Property and equipment	45
Deferred tax assets	272

Developed technology	9,335
Trade names	150
Accounts payable	(321)
Accrued expenses and other current liabilities	(318)

Deferred revenue	(67)
Redeemable noncontrolling interest	(6,770)
Goodwill	35,282
Total tangible and intangible net assets	$	38,287

The table below sets forth the purchase consideration and the fair value allocation of the tangible and intangible net assets acquired (in thousands):


	December 14, 2020
Calculation of Purchase Consideration:
Cash paid, net of working capital adjustment	$	26,577
Total consideration	$	26,577

Tangible and Intangible Net Assets:
Cash	$	311
Accounts receivable	1,179
Inventory	917
Other current assets	240
Property and equipment	77
Operating lease right-of-use assets	384
Other assets	348
Customer relationships	2,362
Developed technology	13,522
Trade name	512
Accounts payable	(19)
Accrued expenses	(111)
Operating lease current liabilities	(51)
Operating lease liabilities	(333)
Goodwill	7,239
Total tangible and intangible net assets	$	26,577

Schedule of Unaudited Pro Forma Financial Information and Business Combinations in Operations

The pro forma adjustments were based on available information and upon assumptions that we believe are reasonable to reflect the impact of these acquisitions on our historical financial information on a supplemental pro forma basis, as follows (in thousands, except per share data):


	Pro Forma Year Ended December 31,
	2020		2019
Revenue	$	626,080	$	508,662
Net income attributable to common stockholders	75,258		52,999
Net income attributable to common stockholders per share - basic	$	1.54	$	1.08
Net income attributable to common stockholders per share - diluted	$	1.48	$	1.04

The following table presents the revenue and losses of the business combination in the year of acquisition as reported within the consolidated financial statements (in thousands):


	Year Ended December 31, 2020
Revenue	$	334
Net loss	(413)

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in goodwill by reportable segment are outlined below (in thousands):


	Alarm.com		Other		Total
Balance as of January 1, 2021	$	112,838	$	—	$	112,838
Goodwill acquired	—		—		—
Measurement period adjustment	63		—		63
Balance as of December 31, 2021	112,901		—		112,901
Goodwill acquired - initial measurement	37,907		—		37,907
Measurement period adjustment	(2,625)		—		(2,625)
Balance as of December 31, 2022	$	148,183	$	—	$	148,183

Schedule of Intangible Assets

The following table reflects changes in the net carrying amount of the components of intangible assets (in thousands):


	Customer Relationships		Developed Technology		Trade Name		Total
Balance as of January 1, 2021	$	72,670	$	28,223	$	2,366	$	103,259
Intangible assets acquired	—		5,307		—		5,307
Impairment of intangible assets	(86)		—		—		(86)
Amortization	(13,158)		(3,373)		(543)		(17,074)
Balance as of December 31, 2021	59,426		30,157		1,823		91,406
Intangible assets acquired	—		9,335		150		9,485

Amortization	(11,904)		(5,939)		(590)		(18,433)
Balance as of December 31, 2022	$	47,522	$	33,553	$	1,383	$	82,458

The following tables reflect the weighted-average remaining life and carrying value of finite-lived intangible assets (in thousands, except weighted-average remaining life):


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Life (in years)
Customer relationships	$	125,885	$	(78,363)	$	47,522	7.0
Developed technology	58,478		(24,925)		33,553		5.8
Trade name	3,937		(2,554)		1,383		2.4

Total intangible assets	$	188,300	$	(105,842)	$	82,458	6.5


	December 31, 2021
	Gross Carrying Amount		Impairment of Intangible Assets		Accumulated Amortization		Net Carrying Value		Weighted- Average Remaining Life (in years)
Customer relationships	$	126,093	$	(86)	$	(66,581)	$	59,426	7.9
Developed technology	49,371		—		(19,214)		30,157		6.5
Trade name	3,815		—		(1,992)		1,823		3.1
Other	234		—		(234)		—		0.0
Total intangible assets	$	179,513	$	(86)	$	(88,021)	$	91,406	7.4

Schedule of Future Estimated Amortization Expense

The following table reflects the future estimated amortization expense for intangible assets (in thousands):


Year Ended December 31,	Amortization
2023	$	17,722
2024	15,477
2025	14,438
2026	12,909
2027	10,651
2028 and thereafter	11,261
Total future amortization expense	$	82,458

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Changes in Allowance for Credit Losses for Accounts Receivable

The changes in our allowance for credit losses for accounts receivable are as follows (in thousands):


	Year Ended December 31, 2022				Year Ended December 31, 2021
	Alarm.com and Certain Subsidiaries		All Other Subsidiaries		Alarm.com and Certain Subsidiaries		All Other Subsidiaries
Beginning of period balance	$	(2,035)	$	(133)	$	(4,442)	$	(254)
(Provision for) / recovery of expected credit losses	(1,199)		43		860		(85)
Write-offs	479		10		1,547		206
End of period balance	$	(2,755)	$	(80)	$	(2,035)	$	(133)

The changes in our allowance for credit losses for notes receivable are as follows (in thousands):


	Year Ended December 31, 2022				Year Ended December 31, 2021
	Loan Receivables		Hardware Financing Receivables		Loan Receivables		Hardware Financing Receivables
Beginning of period balance	$	(79)	$	(1)	$	(73)	$	(16)

Recovery of / (provision for) expected credit losses	77		1		(6)		15
Write-offs	—		—		—		—
End of period balance	$	(2)	$	—	$	(79)	$	(1)

Schedule of Financing Receivable Credit Quality Indicators

The following tables reflect the current and delinquent notes receivable by class of financing receivables and by year of origination (in thousands):


	December 31, 2022
Loan Receivables:	2022		2021		2020		2019		2018		Prior		Total
Current	$	1,500	$	—	$	1,093	$	1	$	—	$	4,015	$	6,609
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		—		—
90-119 days past due	—		—		—		—		—		—		—
120+ days past due	—		—		—		—		—		—		—
Total	$	1,500	$	—	$	1,093	$	1	$	—	$	4,015	$	6,609


	December 31, 2021
Loan Receivables:	2021		2020		2019		2018		2017		Prior		Total
Current	$	—	$	1,151	$	7	$	—	$	4,602	$	—	$	5,760
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		—		—
90-119 days past due	—		—		—		—		—		—		—
120+ days past due	—		—		—		—		—		—		—
Total	$	—	$	1,151	$	7	$	—	$	4,602	$	—	$	5,760

Hardware Financing Receivables:
Current	$	—	$	—	$	4	$	—	$	—	$	—	$	4
30-59 days past due	—		—		6		—		—		—		6
60-89 days past due	—		—		11		—		—		—		11
90-119 days past due	—		—		—		—		—		—		—
120+ days past due	—		—		—		—		—		—		—
Total	$	—	$	—	$	21	$	—	$	—	$	—	$	21

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present our assets and liabilities measured at fair value on a recurring basis (in thousands):


	Fair Value Measurements on a Recurring Basis
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts as of December 31, 2022	$	510,326	$	—	$	—	$	510,326
Money market accounts as of December 31, 2021	679,278		—		—		679,278

Liabilities:
Subsidiary long-term incentive plan as of December 31, 2022	$	—	$	—	$	—	$	—
Subsidiary long-term incentive plan as of December 31, 2021	—		—		3,351		3,351

Summary of Fair Value of Level 3 Liability

The following table summarizes the change in fair value of the Level 3 liabilities for the subsidiary long-term incentive plan with significant unobservable inputs (in thousands):


	Year Ended December 31,
	2022		2021
Beginning of period balance	$	3,351	$	1,000
Changes in fair value included in earnings	(247)		2,351
Reclassification to additional paid in capital upon modification	(3,104)		—
End of period balance	$	—	$	3,351

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Supplemental Information Related to Leases

Supplemental information related to leases is presented in the table below (in thousands, except weighted-average term and discount rate):


	Year Ended December 31,
	2022		2021		2020
Operating lease cost	$	10,499	$	9,692	$	8,888
Cash paid for amounts included in the measurement of operating lease liabilities	12,723		11,809		10,177
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	7,474		5,158		10,073


	December 31, 2022		December 31, 2021
Weighted-average remaining lease term — operating leases	3.4 years		4.2 years
Weighted-average discount rate — operating leases	3.9	%	3.6	%

Maturities of Lease Liabilities

Maturities of lease liabilities are as follows (in thousands):


Year Ended December 31,	Operating Leases(1)
2023	$	13,446
2024	12,105
2025	9,915
2026	5,713
2027	805
2028 and thereafter	283
Total lease payments	42,267
Less: imputed interest(2)	2,730
Present value of lease liabilities	$	39,537

_______________

(1)Operating lease payments exclude $5.9 million of legally binding minimum lease payments for leases executed but not yet commenced and includes $0.4 million for options to extend lease terms that were reasonably certain of being exercised.

(2)Imputed interest was calculated using the incremental borrowing rate applicable for each lease.

Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Schedule of Accounts Payable. Accrued Expenses and Other Current Liabilities

The components of accounts payable, accrued expenses and other current liabilities are as follows (in thousands):


	December 31, 2022		December 31, 2021
Accounts payable	$	53,121	$	64,751
Accrued expenses	17,539		19,894
Income taxes payable	43,576		—
Other current liabilities	5,421		5,171
Accounts payable, accrued expenses and other current liabilities	$	119,657	$	89,816

The components of other liabilities are as follows (in thousands):


	December 31, 2022		December 31, 2021

Holdback liability from asset acquisition and business combination	$	4,560	$	850
Subsidiary long-term incentive plan	—		3,351
Other liabilities	8,490		5,344
Other liabilities	$	13,050	$	9,545

Debt, Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Debt, Commitments and Contingencies Disclosure [Abstract]

Schedule of Carrying Values of Debt

The net carrying amount of the liability component of the 2026 Notes is as follows (in thousands):


	December 31, 2022		December 31, 2021
Principal	$	500,000	$	500,000
Unamortized debt discount	—		(63,520)
Unamortized debt issuance costs	(9,630)		(11,135)
Net carrying amount	$	490,370	$	425,345

Interest expense related to the 2026 Notes is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Amortization of debt discount	$	—	$	13,678	$	—
Amortization of debt issuance costs	3,126		2,139		—
Total interest expense	$	3,126	$	15,817	$	—

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense is included in the following line items in the consolidated statements of operations (in thousands):


	Year Ended December 31,
	2022		2021		2020
Sales and marketing	$	4,342	$	4,432	$	3,025
General and administrative	15,037		9,941		7,996
Research and development	33,275		24,321		18,155
Total stock-based compensation expense	$	52,654	$	38,694	$	29,176

The following table summarizes the components of non-cash stock-based compensation expense (in thousands):


	Year Ended December 31,
	2022		2021		2020
Stock options and assumed options	$	3,654	$	3,707	$	3,406
Restricted stock units	48,798		34,799		25,605
Employee stock purchase plan	202		188		165
Total stock-based compensation expense	$	52,654	$	38,694	$	29,176
Tax windfall benefit from stock-based awards	$	2,022	$	10,063	$	8,202

Summary of Assumptions Used for Estimating Fair Value of Stock Options

The following table summarizes the assumptions used for estimating the fair value of stock options granted:


	Year Ended December 31,
	2022		2021		2020
Volatility	40.2 - 41.8%		41.8 - 42.6%		39.2 - 42.3%
Expected term	5.2 - 5.3 years		6.2 - 6.7 years		6.2 - 6.7 years
Risk-free interest rate	2.9 - 3.9%		1.0 - 1.2%		0.4 - 1.8%
Dividend rate	—	%	—	%	—	%

Summary of Stock Option Activity

The following table summarizes stock option activity:


	Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021	1,167,481	$	35.99	5.7	$	57,129
Granted	184,500	60.80
Exercised	(122,664)	20.35			5,725
Forfeited	(41,316)	61.90
Expired	(1,350)	2.95
Outstanding as of December 31, 2022	1,186,651	$	40.60	5.6	$	18,309
Vested and expected to vest as of December 31, 2022	1,186,651	$	40.60	5.6	$	18,309
Exercisable as of December 31, 2022	758,291	$	29.05	4.1	$	17,347

Schedule of Unvested Restricted Stock Units

The following table summarizes RSU activity:


	RSUs without Performance Conditions					RSUs with Performance Conditions
	Number of RSUs	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)		Number of RSUs	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021	1,797,899	$	64.71	$	152,480	129,718	$	76.64	$	11,001
Granted	1,123,076	63.76				168,223	71.64
Vested	(429,892)	56.46		27,907		—	—		—
Forfeited	(223,229)	66.15				(3,019)	62.38
Outstanding as of December 31, 2022	2,267,854	$	65.67	$	112,213	294,922	$	73.94	$	14,593
Vested and expected to vest as of December 31, 2022	2,267,854	$	65.67	$	112,213	279,267	$	73.17	$	13,818

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Components of Basic and Diluted EPS

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share amounts):


	Year Ended December 31,
Numerator:	2022		2021		2020
Net income	$	55,631	$	51,175	$	76,660
Net loss attributable to redeemable noncontrolling interests	707		1,084		1,193

Net income attributable to common stockholders - basic (A)	$	56,338	$	52,259	$	77,853
Add back interest expense, net of tax, attributable to convertible senior notes	2,352		—		—
Net income attributable to common stockholders - diluted (B)	$	58,690	$	52,259	$	77,853
Denominator:
Weighted average common shares outstanding — basic (C)	49,926,236		49,869,857		48,950,328
Dilutive effect of convertible senior notes, stock options and restricted stock units	5,006,521		2,050,045		2,012,862
Weighted average common shares outstanding — diluted (D)	54,932,757		51,919,902		50,963,190
Net income per share:
Basic (A/C)	$	1.13	$	1.05	$	1.59
Diluted (B/D)	$	1.07	$	1.01	$	1.53

Schedule of Securities Excluded from Calculation of Diluted Weighted Average Common Shares Outstanding Due to Anti-dilutive Effect

The following securities have been excluded from the calculation of diluted weighted average common shares outstanding as the inclusion of these securities would have an anti-dilutive effect:


	Year Ended December 31,
	2022	2021	2020
Stock options	393,042	142,660	158,515
Restricted stock units	242,842	11,630	62,194

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of our income tax expense are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Current
Federal	$	44,591	$	2,678	$	3,583
State	10,730		1,437		2,735
Foreign	680		894		438
Total Current	56,001		5,009		6,756
Deferred
Federal	(45,609)		(9,295)		(3,628)
State	(9,271)		(820)		372
Foreign	(159)		—		—
Total Deferred	(55,039)		(10,115)		(3,256)
Total	$	962	$	(5,106)	$	3,500

Schedule of Effective Income Tax Rate Reconciliation

The difference between the income tax expense at the federal statutory rate and income tax expense in the consolidated statements of operations is as follows:


	Year Ended December 31,
	2022		2021		2020
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income tax expense, net of federal benefits	1.0		(1.0)		1.4
Nondeductible meals and entertainment	0.9		0.5		0.1

Foreign-derived intangible income deduction	(7.0)		(1.7)		(1.4)
Valuation allowance	0.4		1.1		1.3
Research and development tax credits	(16.5)		(17.7)		(9.4)
Tax windfall benefits	(3.0)		(18.8)		(8.8)

Foreign withholding tax	1.2		1.9		0.5
Nondeductible compensation	1.8		1.9		—
Other	1.9		1.7		(0.3)
Effective rate	1.7	%	(11.1)	%	4.4	%

Schedule of Components of Deferred Tax Assets and Liabilities

The components of our net deferred tax assets (liabilities) are as follows (in thousands):


	December 31,
	2022		2021
Deferred tax assets, non-current
Provision for credit losses on accounts receivable	$	1,073	$	847
Depreciation	445		281

Accrued expenses	5,288		4,749
Deferred revenue	2,274		2,061
Operating lease liabilities	9,757		10,619

Stock-based compensation	22,191		15,461
Acquisition costs	2,363		2,627
Subsidiary unit compensation	—		804

Inventory reserve	654		439
Debt issuance costs	—		402
Net operating losses	3,492		1,262
Tax credits	3,085		9,405

Capitalized research and development expenditures	53,901		—
Other	786		577
Total deferred tax assets, non-current prior to valuation allowance	105,309		49,534
Valuation allowance	(2,591)		(2,209)
Total deferred tax assets, non-current, net of valuation allowance	102,718		47,325
Deferred tax liabilities, non-current
Intangible assets and prepaid patent licenses	(4,354)		(2,905)
Operating lease right-of-use assets	(7,134)		(7,534)
Depreciation	(5,828)		(6,446)
Sales commissions	(1,138)		(896)

Internally developed software	—		(147)
Equity investments	(79)		(92)
Convertible debt discount	—		(15,758)
Total deferred tax liabilities, non-current	(18,533)		(33,778)
Net deferred tax assets, non-current	$	84,185	$	13,547

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest expense) is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning balance	$	5,541	$	4,228	$	3,065
Additions based on tax positions of the current year	1,881		1,526		1,166
Additions based on tax positions of prior year	225		15		656
Decreases based on tax positions of prior year	(51)		(10)		(259)

Decreases due to lapse of applicable statute of limitations	—		(218)		(400)
Ending balance	$	7,596	$	5,541	$	4,228

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Reportable Segment Operational Data

The reportable segment operational data is presented in the tables below (in thousands):


	Year Ended December 31, 2022
	Alarm.com		Other		Intersegment Alarm.com		Intersegment Other		Total
SaaS and license revenue	$	478,134	$	42,243	$	—	$	—	$	520,377
Hardware and other revenue	317,937		9,097		(4,067)		(785)		322,182
Total revenue	796,071		51,340		(4,067)		(785)		842,559
Operating income / (loss)	66,744		(16,255)		417		131		51,037
Assets	1,366,343		53,927		(90,929)		34		1,329,375

	Year Ended December 31, 2021
	Alarm.com		Other		Intersegment Alarm.com		Intersegment Other		Total
SaaS and license revenue	$	426,823	$	33,549	$	—	$	—	$	460,372
Hardware and other revenue	284,721		9,275		(3,089)		(2,310)		288,597
Total revenue	711,544		42,824		(3,089)		(2,310)		748,969
Operating income / (loss)	70,646		(9,590)		766		(250)		61,572
Assets	1,264,416		37,198		(69,595)		(4)		1,232,015

	Year Ended December 31, 2020
	Alarm.com		Other		Intersegment Alarm.com		Intersegment Other		Total
SaaS and license revenue	$	366,815	$	26,442	$	—	$	—	$	393,257
Hardware and other revenue	219,826		14,254		(3,093)		(6,241)		224,746
Total revenue	586,641		40,696		(3,093)		(6,241)		618,003
Operating income / (loss)	59,194		(2,908)		393		(381)		56,298

Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Schedule of Unaudited Quarterly Financial Information

The selected consolidated statements of operation data in amounts are presented below (in thousands, except per share data):


	Three Months Ended
	Mar. 31, 2021		June 30, 2021		Sept. 30, 2021		Dec. 31, 2021		Mar. 31, 2022		June 30, 2022		Sept. 30, 2022		Dec. 31, 2022
Total revenue	$	172,498	$	188,857	$	192,324	$	195,290	$	205,437	$	212,845	$	216,138	$	208,139
Total cost of revenue	65,762		77,367		80,384		82,386		90,087		87,336		85,586		79,572

Net income	14,550		14,490		13,294		8,841		8,903		10,828		18,110		17,790
Net income attributable to common stockholders	14,830		14,745		13,538		9,146		9,079		10,842		18,332		18,085
Net income per share attributable to common stockholders
Basic	$	0.30	$	0.30	$	0.27	$	0.18	$	0.18	$	0.22	$	0.37	$	0.36
Diluted	$	0.29	$	0.28	$	0.26	$	0.18	$	0.18	$	0.21	$	0.35	$	0.34

Organization (Details) service_provider in Thousands, home in Millions	Dec. 31, 2022 service_provider home
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of homes and businesses \| home	9.1
Number of trusted service providers (more than) \| service_provider	11

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Money market accounts
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 510.3	$ 679.3

Summary of Significant Accounting Policies - Accounts Receivable and Notes Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Restricted cash included in other current assets and other assets	$ 714,000	$ 0	$ 0
Other Current Assets
Concentration Risk [Line Items]
Restricted cash included in other current assets and other assets	100,000
Other Assets
Concentration Risk [Line Items]
Restricted cash included in other current assets and other assets	$ 700,000
Geographic Concentration Risk \| Accounts Receivable \| Outside of North America
Concentration Risk [Line Items]
Concentration risk percentage (percent)	5.00%	4.00%
Geographic Concentration Risk \| Revenue from Contract with Customer Benchmark \| Outside of North America
Concentration Risk [Line Items]
Concentration risk percentage (percent)	4.00%	3.00%	3.00%

Summary of Significant Accounting Policies - Credit Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit loss expense (reversal) for accounts and notes receivable	$ 800,000	$ (1,000,000)	$ 1,700,000
Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance	0	21,000
Distribution Partner
Accounts, Notes, Loans and Financing Receivable [Line Items]
Write-offs	0	700,000
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest receivable	$ 100,000	$ 100,000

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph (a)

Summary of Significant Accounting Policies - Leases (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Sublease liability	$ 0	$ 0
Finance lease, liability	$ 0	$ 0

Summary of Significant Accounting Policies - Convertible Senior Notes (Details) - 2026 Notes - Senior Notes	Jan. 20, 2021 USD ($)
Debt Instrument [Line Items]
Debt amount	$ 500,000,000
Interest rate	0.00%

Summary of Significant Accounting Policies - Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 23, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 21, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Redeemable noncontrolling interests	$ 23,988		$ 12,888	$ 10,691	$ 11,210
OpenEye
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of business acquired	85.00%					85.00%
Noonlight
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of business acquired	85.00%	85.00%

Summary of Significant Accounting Policies - Internal-Use Software (Details)	12 Months Ended
	Dec. 31, 2022
Internal-use software
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	3 years

Summary of Significant Accounting Policies - Revenue Recognition (Details)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2022

USD ($)

Sep. 30, 2022

USD ($)

Jun. 30, 2022

USD ($)

Mar. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Sep. 30, 2021

USD ($)

Jun. 30, 2021

USD ($)

Mar. 31, 2021

USD ($)

Dec. 31, 2022

USD ($)

source

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Number of primary revenue sources | source

3

Service provider contract term (years)

1 year

Service provider renewal term (years)

1 year

Percentage of revenue reserved for returns (percent)

$ 208,139

$ 216,138

$ 212,845

$ 205,437

$ 195,290

$ 192,324

$ 188,857

$ 172,498

$ 842,559

$ 748,969

$ 618,003

1.00%

Period for returns (up to one year)

1 year

Deferred revenue for contract liabilities

18,332

14,837

$ 18,332

$ 14,837

$ 12,529

$ 10,498

Commission costs amortization period

$ 79,572

$ 85,586

$ 87,336

$ 90,087

82,386

$ 80,384

$ 77,367

$ 65,762

$ 342,581

^[1]

305,899

^[1]

227,428

^[1]

3 years

Minimum

Subscriber contract term (years)

3 years

Maximum

Subscriber contract term (years)

5 years

Software License Revenue

Hardware and other revenue

$ 500

1,100

1,300

Deferred revenue for contract liabilities

322,182

288,597

224,746

$ 5,300

$ 6,000

5,300

6,000

Hardware and other revenue | Minimum

^[1]

$ 268,684

239,141

173,889

Deferred revenue recognition period

12 months

Hardware and other revenue | Maximum

Deferred revenue recognition period

10 years

Alarm.com | Software License Revenue

$ 26,800

$ 32,300

$ 38,000

[1]	Exclusive of amortization and depreciation shown in operating expenses below.

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Accounts Receivable	12 Months Ended
	Dec. 31, 2022 region industry
Industry Concentration Risk
Concentration Risk [Line Items]
Number of industries included in assessment \| industry	1
Geographic Concentration Risk
Concentration Risk [Line Items]
Number of geographic regions included in assessment \| region	1

Summary of Significant Accounting Policies - Stock-Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years
Total stock-based compensation expense	$ 52,654,000	$ 38,694,000	$ 29,176,000
Tax benefit from stock-based compensation	2,022,000	10,063,000	8,202,000
Employee Stock \| 2015 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 200,000	$ 200,000	$ 200,000
Fair market value purchase discount (percent)	90.00%
Maximum number of shares participant may purchase as a percentage of base compensation (not to exceed) (percent)	10.00%
Maximum number of shares participant may purchase, fair market value (not to exceed)	$ 15,000
Purchase period (in years)	6 months

Summary of Significant Accounting Policies - 401(k) Defined Contribution Plan (Details) - 401(k) Defined Contribution Plan - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution (percent)	100.00%	100.00%	100.00%
Maximum annual contributions per employee (percent)	10.00%	10.00%	10.00%
Maximum annual contributions per employee	$ 5,000	$ 5,000	$ 5,000
Compensation expense	$ 6,400,000	$ 5,500,000	$ 5,000,000

Summary of Significant Accounting Policies - Business Combinations (Details) - OpenEye - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 21, 2019
Business Acquisition, Contingent Consideration [Line Items]
Percentage of business acquired	85.00%			85.00%
Maximum potential payout amount				$ 11,000,000
Fair Value
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration liability	$ 0	$ 0	$ 0	$ 2,800,000

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)		12 Months Ended
	Oct. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill impairment	$ 0	$ 0	$ 0	$ 0
Impairment of long-lived assets		$ 0		$ 0
Customer Relationships
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets			100,000
Other Long-Lived Assets
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets			$ 0

Summary of Significant Accounting Policies - Advertising Costs and Accounting for Income Taxes (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Tax Credit Carryforward [Line Items]
Advertising costs		$ 6,100,000	$ 9,600,000	$ 11,900,000
Deferred tax assets, valuation allowance		2,591,000	2,209,000
Existing Net Operating Loss
Tax Credit Carryforward [Line Items]
Additions to unrecognized tax benefit	$ 300,000
Deferred tax assets, valuation allowance		0	300,000
State Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Additions to unrecognized tax benefit				$ 1,300,000
Deferred tax assets, valuation allowance		$ 2,600,000	$ 1,900,000

Summary of Significant Accounting Policies - Earnings Per Share (Details) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 20, 2021	Oct. 21, 2019
Restructuring Cost and Reserve [Line Items]
Dilutive effect of shares (in shares)		5,006,521	2,050,045	2,012,862
2026 Notes
Restructuring Cost and Reserve [Line Items]
Share conversion price (in dollars per share)					$ 147.19
Dilutive effect of shares (in shares)	3,396,950	3,396,950
OpenEye
Restructuring Cost and Reserve [Line Items]
Percentage of business acquired	85.00%	85.00%				85.00%

Summary of Significant Accounting Policies - Summary of Accounting Standards Update (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets	$ 105,309		$ 49,534
Additional paid-in capital	497,199		498,979
Convertible senior notes, net	490,370		425,345
Retained earnings	$ 185,143		$ 118,833
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets		$ 15,356
Additional paid-in capital		(56,515)
Convertible senior notes, net		61,899
Retained earnings		$ 9,972

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income attributable to common stockholders									$ 56,338	$ 52,259	$ 77,853
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06 [Member]								Accounting Standards Update 2020-06 [Member]	Accounting Standards Update 2020-06 [Member]		Accounting Standards Update 2016-13 [Member]
Dilutive effect of shares (in shares)									5,006,521	2,050,045	2,012,862
Basic (USD per share)	$ 0.36	$ 0.37	$ 0.22	$ 0.18	$ 0.18	$ 0.27	$ 0.30	$ 0.30	$ 1.13	$ 1.05	$ 1.59
Diluted (USD per share)	$ 0.34	$ 0.35	$ 0.21	$ 0.18	$ 0.18	$ 0.26	$ 0.28	$ 0.29	$ 1.07	$ 1.01	$ 1.53
2026 Notes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Dilutive effect of shares (in shares)	3,396,950								3,396,950
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income attributable to common stockholders	$ 2,000								$ 8,100
Basic (USD per share)	$ 0.04								$ 0.16
Diluted (USD per share)	$ 0.03								$ 0.13

Indicates amendment to accounting standards.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Revenue from Contracts with Customers - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Impairment loss on contract assets	$ 0	$ 0	$ 0

Revenue from Contracts with Customers - Contract Asset and Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change In Contract With Customer, Asset [Roll Forward]
Beginning of period balance	$ 4,520	$ 4,306	$ 4,578
Commission costs and upfront payments to a customer capitalized in period	14,270	3,779	3,262
Amortization of contract assets	(4,815)	(3,565)	(3,534)
End of period balance	13,975	4,520	4,306
Change In Contract With Customer, Liability [Roll Forward]
Beginning of period balance	14,837	12,529	10,498
Revenue deferred and acquired in period	18,617	13,947	12,247
Revenue recognized from amounts included in contract liabilities	(15,122)	(11,639)	(10,216)
End of period balance	$ 18,332	$ 14,837	$ 12,529

Accounts Receivable, Net - Components of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable	$ 128,669	$ 108,897
Allowance for credit losses	(2,835)	(2,168)
Allowance for product returns	(1,551)	(1,181)
Accounts receivable, net	$ 124,283	$ 105,548

Accounts Receivable, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for / (recovery of) credit losses on accounts receivable	$ 1,156	$ (775)	$ 2,162
Reserve for product returns	4,746	2,494	1,795
Hardware and other revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserve for product returns	$ 4,700	$ 2,500	$ 1,800

Accounts Receivable, Net - Schedule of Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of period balance	$ (2,168)
(Provision for) / recovery of expected credit losses	(1,156)	$ 775	$ (2,162)
End of period balance	(2,835)	(2,168)
Alarm.com and Certain Subsidiaries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of period balance	(2,035)	(4,442)
(Provision for) / recovery of expected credit losses	(1,199)	860
Write-offs	479	1,547
End of period balance	(2,755)	(2,035)	(4,442)
All Other Subsidiaries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of period balance	(133)	(254)
(Provision for) / recovery of expected credit losses	43	(85)
Write-offs	10	206
End of period balance	$ (80)	$ (133)	$ (254)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 38,098	$ 15,823
Finished goods	77,486	59,453
Total inventory	$ 115,584	$ 75,276

Property and Equipment, Net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 11,600,000	$ 10,400,000	$ 8,300,000
Amortization	600,000	2,000,000	2,400,000
Write-off of property and equipment	$ 0	$ 0	$ 0
Computer software and hardware \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (years)	3 years
Computer software and hardware \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (years)	5 years
Furniture, fixtures and office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (years)	3 years
Furniture, fixtures and office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (years)	5 years
Internal-use software
Property, Plant and Equipment [Line Items]
Useful life (years)	3 years
Real property \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (years)	15 years
Real property \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (years)	39 years

Property and Equipment, Net - Components of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 116,980	$ 89,499
Accumulated depreciation	(59,808)	(47,786)
Property and equipment, net	57,172	41,713
Furniture, fixtures and office equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	9,078	8,124
Computer software and hardware
Property, Plant and Equipment [Line Items]
Total property and equipment	32,560	29,490
Internal-use software
Property, Plant and Equipment [Line Items]
Total property and equipment	8,949	8,957
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	1,864	2,059
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	31,532	30,219
Real property and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	10,495	9,252
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 22,502	$ 1,398

Acquisitions - Noonlight Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended			12 Months Ended
Acquisitions - Noonlight Narrative (Details) - USD ($)	Sep. 23, 2022	May 31, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Deferred tax assets					$ 105,309,000	$ 105,309,000	$ 49,534,000
Deferred tax liabilities					18,533,000	18,533,000	33,778,000
Goodwill measurement period adjustment						2,625,000	(63,000)
Goodwill					$ 148,183,000	$ 148,183,000	$ 112,901,000	$ 112,838,000
Noonlight
Business Acquisition [Line Items]
Ownership by noncontrolling owners	15.00%
Noonlight
Business Acquisition [Line Items]
Percentage of business acquired	85.00%				85.00%	85.00%
Cash paid to acquire business	$ 31,900,000
Loan amount consideration		$ 1,500,000
Holdback liability from asset acquisition and business combination	4,910,000
Purchase price adjustment increase (decrease)	(100,000)				$ 200,000
Acquisition related costs						$ 800,000
Decrease in accounts payable					100,000
Decrease in accrued expenses					100,000
Other current assets					100,000
Deferred tax assets					2,600,000	2,600,000
Deferred tax liabilities					2,300,000	2,300,000
Goodwill measurement period adjustment					2,600,000
Goodwill	35,282,000
Expected tax deductible amount of goodwill	0
Redeemable noncontrolling interest	6,770,000				$ 6,600,000	$ 6,600,000
Noonlight \| Developed Technology
Business Acquisition [Line Items]
Intangible assets	$ 9,335,000
Weighted-average estimated useful life of intangible assets acquired (years)	7 years
Noonlight \| Trade Name
Business Acquisition [Line Items]
Intangible assets	$ 150,000
Weighted-average estimated useful life of intangible assets acquired (years)	5 years
Noonlight \| Forecast
Business Acquisition [Line Items]
Payments for business combination holdback			$ 4,600,000	$ 300,000

Acquisitions - Noonlight Consideration Paid and Fair Value of Assets Acquired (Details) - USD ($) $ in Thousands	Sep. 23, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Estimated Tangible and Intangible Net Assets:
Goodwill		$ 148,183	$ 112,901	$ 112,838
Noonlight
Calculation of Purchase Consideration:
Cash paid, net of working capital adjustment	$ 31,840
Outstanding principal and interest of loan provided to Noonlight	1,537
Holdback liability from asset acquisition and business combination	4,910
Total consideration	38,287
Estimated Tangible and Intangible Net Assets:
Cash	188
Accounts receivable	291
Other current and non-current assets	200
Property and equipment	45
Deferred tax assets	272
Accounts payable	(321)
Accrued expenses and other current liabilities	(318)
Deferred revenue	(67)
Redeemable noncontrolling interest	(6,770)	$ (6,600)
Goodwill	35,282
Total tangible and intangible net assets	38,287
Noonlight \| Developed Technology
Estimated Tangible and Intangible Net Assets:
Intangible assets acquired	9,335
Noonlight \| Trade Name
Estimated Tangible and Intangible Net Assets:
Intangible assets acquired	$ 150

Acquisitions - Shooter Detection Systems (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Dec. 14, 2020	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Measurement period adjustment			$ (2,625)	$ 63
Goodwill			$ 148,183	$ 112,901	$ 112,838
Shooter Detection Systems
Business Acquisition [Line Items]
Percentage of business acquired	100.00%
Cash paid to acquire business	$ 26,600
Purchase price adjustment increase (decrease)	(100)	$ 100
Measurement period adjustment		$ 100
Goodwill	7,239
Shooter Detection Systems \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets	$ 2,362
Weighted-average estimated useful life of intangible assets acquired (years)	6 years
Shooter Detection Systems \| Developed Technology
Business Acquisition [Line Items]
Intangible assets	$ 13,522
Weighted-average estimated useful life of intangible assets acquired (years)	7 years
Shooter Detection Systems \| Trade Name
Business Acquisition [Line Items]
Intangible assets	$ 512
Weighted-average estimated useful life of intangible assets acquired (years)	5 years

Acquisitions - Shooter Detection Systems Consideration Paid and Fair Value of Assets Acquired (Details) - USD ($) $ in Thousands	Dec. 14, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Estimated Tangible and Intangible Net Assets:
Goodwill		$ 148,183	$ 112,901	$ 112,838
Shooter Detection Systems
Calculation of Purchase Consideration:
Cash paid, net of working capital adjustment	$ 26,577
Total consideration	26,577
Estimated Tangible and Intangible Net Assets:
Cash	311
Accounts receivable	1,179
Inventory	917
Other current assets	240
Property and equipment	77
Operating lease right-of-use assets	384
Other assets	348
Accounts payable	(19)
Accrued expenses	(111)
Operating lease current liabilities	(51)
Operating lease liabilities	(333)
Goodwill	7,239
Total tangible and intangible net assets	26,577
Customer Relationships \| Shooter Detection Systems
Estimated Tangible and Intangible Net Assets:
Intangible assets acquired	2,362
Developed Technology \| Shooter Detection Systems
Estimated Tangible and Intangible Net Assets:
Intangible assets acquired	13,522
Trade Name \| Shooter Detection Systems
Estimated Tangible and Intangible Net Assets:
Intangible assets acquired	$ 512

Acquisitions - Unaudited Pro Forma Financial Information (Details) - Shooter Detection Systems - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Revenue	$ 626,080	$ 508,662
Net income attributable to common stockholders	$ 75,258	$ 52,999
Net income attributable to common stockholders per share - basic (in usd per share)	$ 1.54	$ 1.08
Net income attributable to common stockholders per share - diluted (in usd per share)	$ 1.48	$ 1.04

Acquisitions - Business Combinations in Operations (Details) - Shooter Detection Systems $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Revenue	$ 334
Net loss	$ (413)

Acquisitions - Asset Acquisitions (Details) - USD ($) $ in Thousands			1 Months Ended				12 Months Ended			18 Months Ended
	Mar. 31, 2020	Mar. 12, 2020	Dec. 31, 2021	Sep. 30, 2021	Apr. 30, 2021	Dec. 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 16, 2023
Business Acquisition [Line Items]
Acquired in-process research and development							$ 0	$ 0	$ 3,297
Developed Technology
Business Acquisition [Line Items]
Payments to acquire developed technology			$ 4,200
Expected payment period			18 months
Transaction costs			$ 200
Asset acquisition consideration			$ 5,300
Weighted-average estimated useful life of intangible assets acquired (years)			7 years
Developed Technology \| Forecast
Business Acquisition [Line Items]
Payments to acquire developed technology										$ 900
IPR&D
Business Acquisition [Line Items]
Asset acquisition consideration	$ 2,900	$ 1,500
Acquired in-process research and development	$ 2,100	$ 1,200		$ 300	$ 700	$ 100

Goodwill and Intangible Assets, Net - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 112,901	$ 112,838
Goodwill acquired	37,907	0
Measurement period adjustment	(2,625)	63
Ending balance	148,183	112,901
Alarm.com
Goodwill [Roll Forward]
Beginning balance	112,901	112,838
Goodwill acquired	37,907	0
Measurement period adjustment	(2,625)	63
Ending balance	148,183	112,901
Other
Goodwill [Roll Forward]
Beginning balance	0	0
Goodwill acquired	0	0
Measurement period adjustment	0	0
Ending balance	$ 0	$ 0

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($)			3 Months Ended	12 Months Ended
	Oct. 01, 2022	Sep. 23, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill acquired				$ 37,907,000	$ 0
Measurement period adjustment				(2,625,000)	63,000
Goodwill impairment	$ 0			0	0	$ 0
Amortization				18,433,000	17,074,000	16,600,000
Impairment of long-lived assets				0		$ 0
Customer Relationships
Goodwill [Line Items]
Impairment of long-lived assets					$ 100,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]					Other (expense) / income, net
Alarm.com
Goodwill [Line Items]
Goodwill acquired				37,907,000	$ 0
Measurement period adjustment				(2,625,000)	$ 63,000
Intangible assets written off				$ 700,000
Noonlight
Goodwill [Line Items]
Percentage of business acquired		85.00%	85.00%	85.00%
Measurement period adjustment			$ (2,600,000)
Noonlight \| Alarm.com
Goodwill [Line Items]
Goodwill acquired		$ 37,900,000
EnergyHub
Goodwill [Line Items]
Accumulated balance of goodwill impairments			$ 4,800,000	$ 4,800,000

Goodwill and Intangible Assets, Net - Net Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 91,406	$ 103,259
Intangible assets acquired	9,485	5,307
Impairment of intangible assets		(86)
Amortization	(18,433)	(17,074)	$ (16,600)
Ending balance	82,458	91,406	103,259
Customer Relationships
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	59,426	72,670
Intangible assets acquired	0	0
Impairment of intangible assets		(86)
Amortization	(11,904)	(13,158)
Ending balance	47,522	59,426	72,670
Developed Technology
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	30,157	28,223
Intangible assets acquired	9,335	5,307
Impairment of intangible assets		0
Amortization	(5,939)	(3,373)
Ending balance	33,553	30,157	28,223
Trade Name
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	1,823	2,366
Intangible assets acquired	150	0
Impairment of intangible assets		0
Amortization	(590)	(543)
Ending balance	$ 1,383	$ 1,823	$ 2,366

Goodwill and Intangible Assets, Net - Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 188,300	$ 179,513
Impairment of Intangible Assets		(86)
Accumulated Amortization	(105,842)	(88,021)
Net Carrying Value	82,458	91,406	$ 103,259
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	125,885	126,093
Impairment of Intangible Assets		(86)
Accumulated Amortization	(78,363)	(66,581)
Net Carrying Value	47,522	59,426	72,670
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	58,478	49,371
Impairment of Intangible Assets		0
Accumulated Amortization	(24,925)	(19,214)
Net Carrying Value	33,553	30,157	28,223
Trade Name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,937	3,815
Impairment of Intangible Assets		0
Accumulated Amortization	(2,554)	(1,992)
Net Carrying Value	$ 1,383	1,823	$ 2,366
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		234
Impairment of Intangible Assets		0
Accumulated Amortization		(234)
Net Carrying Value		$ 0
Weighted-Average
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Life (in years)	6 years 6 months	7 years 4 months 24 days
Weighted-Average \| Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Life (in years)	7 years	7 years 10 months 24 days
Weighted-Average \| Developed Technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Life (in years)	5 years 9 months 18 days	6 years 6 months
Weighted-Average \| Trade Name
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Life (in years)	2 years 4 months 24 days	3 years 1 month 6 days
Weighted-Average \| Other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Life (in years)		0 years

Goodwill and Intangible Assets, Net - Future Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 17,722
2024	15,477
2025	14,438
2026	12,909
2027	10,651
2028 and thereafter	11,261
Net Carrying Value	$ 82,458	$ 91,406	$ 103,259

Other Assets - Patent Licenses (Details) $ in Thousands	1 Months Ended		12 Months Ended
Other Assets - Patent Licenses (Details) $ in Thousands	Oct. 31, 2020 USD ($) patent	Apr. 30, 2020 USD ($) patent	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 9,485	$ 5,307
Finite-lived, intangible assets, net			82,458	91,406	$ 103,259
Finite-lived intangible assets, gross			188,300	179,513
Amortization on patents and tooling			1,359	1,240	882
Patent Licenses
Finite-Lived Intangible Assets [Line Items]
Number of patents purchased \| patent	1	30
Intangible assets acquired	$ 200	$ 900
Finite-lived, intangible assets, net			1,600	2,200
Finite-lived intangible assets, gross			7,000
Patent Licenses \| Cost of SaaS and License Revenue
Finite-Lived Intangible Assets [Line Items]
Amortization on patents and tooling			300	400	400
Patent Licenses \| Amortization and Depreciation
Finite-Lived Intangible Assets [Line Items]
Amortization on patents and tooling			$ 300	300	$ 200
Patent Licenses \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			3 years
Patent Licenses \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			18 years
Patent Licenses \| Other Current Assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, net			$ 500	600
Patent Licenses \| Other Assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, net			$ 1,100	$ 1,600

Other Assets - Loan to a Distribution Partner (Details) - USD ($)	1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Jun. 09, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenue		$ 208,139,000	$ 216,138,000	$ 212,845,000	$ 205,437,000	$ 195,290,000	$ 192,324,000	$ 188,857,000	$ 172,498,000	$ 842,559,000	$ 748,969,000	$ 618,003,000
Distribution Partner Two \| Term Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable before allowance, noncurrent													$ 3,000,000
Loans receivable annual principal payment														$ 2,000,000
Distribution Partner Three \| Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable before allowance, noncurrent	$ 0	$ 0				0				$ 0	0		$ 3,000,000	$ 1,000,000
Interest rate	12.00%	12.00%								12.00%
Paid-in-kind interest	$ 1,000,000
Distribution Partners Two and Three \| Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenue										$ 2,700,000	3,000,000	$ 2,400,000
Other Assets \| Distribution Partner Three \| Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable before allowance, noncurrent	$ 4,000,000	$ 4,000,000				$ 4,600,000				$ 4,000,000	$ 4,600,000

Other Assets - Loan to a Service Provider Partner (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jul. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenue	$ 208,139	$ 216,138	$ 212,845	$ 205,437	$ 195,290	$ 192,324	$ 188,857	$ 172,498	$ 842,559	$ 748,969	$ 618,003
Service Provider \| Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, maximum available												$ 2,500
Interest rate												9.00%
Note receivable before allowance, noncurrent	$ 1,100				$ 1,200				1,100	1,200
Total revenue									$ 200	$ 200	$ 100

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Other Assets - Loan to Noonlight (Details) - USD ($)	3 Months Ended								12 Months Ended
Other Assets - Loan to Noonlight (Details) - USD ($)	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 23, 2022	May 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenue	$ 208,139,000	$ 216,138,000	$ 212,845,000	$ 205,437,000	$ 195,290,000	$ 192,324,000	$ 188,857,000	$ 172,498,000	$ 842,559,000	$ 748,969,000	$ 618,003,000
Noonlight
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of business acquired	85.00%								85.00%			85.00%
Loan Receivables \| Noonlight
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance	$ 0								$ 0				$ 1,500,000
Interest rate													7.00%
Total revenue									$ 0	$ 0	$ 0

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

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Other Assets - Loan to a Technology Partner (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenue	$ 208,139,000	$ 216,138,000	$ 212,845,000	$ 205,437,000	$ 195,290,000	$ 192,324,000	$ 188,857,000	$ 172,498,000	$ 842,559,000	$ 748,969,000	$ 618,003,000
Technology Partner \| Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance	$ 1,500,000		$ 1,500,000						1,500,000
Interest rate			6.50%
Total revenue									$ 0	$ 0	$ 0

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

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Other Assets - Investment in a Hardware Supplier (Details) - Hardware Supplier - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jul. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable conversion to equity investment	$ 5.6	$ 5.6	$ 5.6
Notes receivable conversion to equity investment (in shares)			9,520,832

Other Assets - Investments in Technology Partners (Details) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Dec. 31, 2022	Feb. 28, 2021	Apr. 30, 2018	Dec. 31, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Nonaccrual [Line Items]
Cash purchase of shares					$ 5,150	$ 5,000	$ 0
Technology Partner
Financing Receivable, Nonaccrual [Line Items]
Cash purchase of shares		$ 5,000		$ 300
Converted debt amount			$ 300
Investment	$ 5,700				5,700	$ 5,700
Technology Partner \| Series A-1 Preferred Stock
Financing Receivable, Nonaccrual [Line Items]
Shares issued during period, conversion (in shares)			135,135
Gain on sale							$ 700
Technology Partner \| Series B-2 Preferred Stock
Financing Receivable, Nonaccrual [Line Items]
Shares purchased (in shares)		1,000,000
Technology Partner Two
Financing Receivable, Nonaccrual [Line Items]
Cash purchase of shares	5,100
Investment	$ 5,100				$ 5,100
Technology Partner Two \| Series A Preferred Stock
Financing Receivable, Nonaccrual [Line Items]
Shares purchased (in shares)	4,231,717				4,231,717

Other Assets - Investment in a Platform Partner (Details) - USD ($)		12 Months Ended
	Jul. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Nonaccrual [Line Items]
Proceeds from sale of investment		$ 140,000	$ 0	$ 25,687,000
Variable Interest Entity, Not Primary Beneficiary \| Platform Partner \| Series A Convertible Preferred Membership Units
Financing Receivable, Nonaccrual [Line Items]
Shares purchased (in shares)	3,548,820
Variable Interest Entity, Not Primary Beneficiary \| Platform Partner \| Common Stock
Financing Receivable, Nonaccrual [Line Items]
Proceeds from sale of investment	$ 25,700,000
Gain on sale				$ 24,700,000
Investment		$ 0	$ 0

Other Assets - Schedule of Notes Receivable Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Recovery of / (provision for) expected credit losses	$ 78	$ 9	$ 359
Loan Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of period balance	(79)	(73)
Recovery of / (provision for) expected credit losses	77	(6)
Write-offs	0	0
End of period balance	(2)	(79)	(73)
Hardware Financing Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of period balance	(1)	(16)
Recovery of / (provision for) expected credit losses	1	15
Write-offs	0	0
End of period balance	$ 0	$ (1)	$ (16)

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

Other Assets - Credit Quality Indicators (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year	$ 1,500,000	$ 0
Originated in fiscal year before current fiscal year	0	1,151,000
Originated in two years before current fiscal year	1,093,000	7,000
Originated in three years before current fiscal year	1,000	0
Originated in four years before current fiscal year	0	4,602,000
Prior	4,015,000	0
Total	6,609,000	5,760,000
Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year		0
Originated in fiscal year before current fiscal year		0
Originated in two years before current fiscal year		21,000
Originated in three years before current fiscal year		0
Originated in four years before current fiscal year		0
Prior		0
Total	0	21,000
Current \| Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year	1,500,000	0
Originated in fiscal year before current fiscal year	0	1,151,000
Originated in two years before current fiscal year	1,093,000	7,000
Originated in three years before current fiscal year	1,000	0
Originated in four years before current fiscal year	0	4,602,000
Prior	4,015,000	0
Total	6,609,000	5,760,000
Current \| Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year		0
Originated in fiscal year before current fiscal year		0
Originated in two years before current fiscal year		4,000
Originated in three years before current fiscal year		0
Originated in four years before current fiscal year		0
Prior		0
Total		4,000
30-59 days past due \| Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year	0	0
Originated in fiscal year before current fiscal year	0	0
Originated in two years before current fiscal year	0	0
Originated in three years before current fiscal year	0	0
Originated in four years before current fiscal year	0	0
Prior	0	0
Total	0	0
30-59 days past due \| Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year		0
Originated in fiscal year before current fiscal year		0
Originated in two years before current fiscal year		6,000
Originated in three years before current fiscal year		0
Originated in four years before current fiscal year		0
Prior		0
Total		6,000
60-89 days past due \| Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year	0	0
Originated in fiscal year before current fiscal year	0	0
Originated in two years before current fiscal year	0	0
Originated in three years before current fiscal year	0	0
Originated in four years before current fiscal year	0	0
Prior	0	0
Total	0	0
60-89 days past due \| Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year		0
Originated in fiscal year before current fiscal year		0
Originated in two years before current fiscal year		11,000
Originated in three years before current fiscal year		0
Originated in four years before current fiscal year		0
Prior		0
Total		11,000
90-119 days past due \| Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year	0	0
Originated in fiscal year before current fiscal year	0	0
Originated in two years before current fiscal year	0	0
Originated in three years before current fiscal year	0	0
Originated in four years before current fiscal year	0	0
Prior	0	0
Total	0	0
90-119 days past due \| Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year		0
Originated in fiscal year before current fiscal year		0
Originated in two years before current fiscal year		0
Originated in three years before current fiscal year		0
Originated in four years before current fiscal year		0
Prior		0
Total		0
120+ days past due \| Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year	0	0
Originated in fiscal year before current fiscal year	0	0
Originated in two years before current fiscal year	0	0
Originated in three years before current fiscal year	0	0
Originated in four years before current fiscal year	0	0
Prior	0	0
Total	$ 0	0
120+ days past due \| Hardware Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated in fiscal year		0
Originated in fiscal year before current fiscal year		0
Originated in two years before current fiscal year		0
Originated in three years before current fiscal year		0
Originated in four years before current fiscal year		0
Prior		0
Total		$ 0

Other Assets - Allowance for Credit Losses Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest income recognized for notes receivables in nonaccrual status	$ 0	$ 0	$ 0
Notes Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual notes receivable without related allowance for credit loss	0	0
Notes receivable 90 days or more past due still accruing	$ 0	$ 0

Other Assets - Prepaid Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 14.5	$ 17.7

Fair Value Measurements - Fair Value on Recurring Basis (Details) - Fair Value - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	$ 510,326	$ 679,278
Subsidiary long-term incentive plan	0	3,351
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	510,326	679,278
Subsidiary long-term incentive plan	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	0	0
Subsidiary long-term incentive plan	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	0	0
Subsidiary long-term incentive plan	$ 0	$ 3,351

Fair Value Measurements - Summary of Fair Value of Level 3 Liability (Details) - Subsidiary Long Term Incentive Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period balance	$ 3,351	$ 1,000
Changes in fair value included in earnings	(247)	2,351
Reclassification to additional paid in capital upon modification	(3,104)	0
End of period balance	$ 0	$ 3,351

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 21, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		$ 622,165,000	$ 710,621,000	$ 253,459,000
Other assets noncurrent		37,356,000	24,349,000
Reclassification of subsidiary long-term incentive plan liability related to modification	$ 3,100,000	3,104,000
Incremental compensation costs	$ 1,200,000
Money market accounts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		509,600,000	679,300,000
Other assets noncurrent		$ 700,000
OpenEye
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage of business acquired		85.00%			85.00%
Maximum potential payout amount					$ 11,000,000
Fair Value \| OpenEye
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability		$ 0	$ 0	$ 0	$ 2,800,000

Leases - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Cumulative tenant improvement allowance - headquarters	$ 12.1
Five Year Renewal Option
Lessee, Lease, Description [Line Items]
Renewal term	5 years

Leases - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 10,499	$ 9,692	$ 8,888
Cash paid for amounts included in the measurement of operating lease liabilities	12,723	11,809	10,177
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$ 7,474	$ 5,158	$ 10,073
Weighted-average remaining lease term — operating leases	3 years 4 months 24 days	4 years 2 months 12 days
Weighted-average discount rate — operating leases	3.90%	3.60%

Leases - Maturities of Leases Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Maturities of Lease Liabilities Under Topic 842
2023	$ 13,446
2024	12,105
2025	9,915
2026	5,713
2027	805
2028 and thereafter	283
Total lease payments	42,267
Less: imputed interest	2,730
Present value of lease liabilities	39,537
Legally binding minimum lease payments on leases not yet commenced	5,900
Amount for options to extend lease	$ 400

Liabilities - Accounts Payable, Accrued Expenses, and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts payable	$ 53,121	$ 64,751
Accrued expenses	17,539	19,894
Income taxes payable	43,576	0
Other current liabilities	5,421	5,171
Accounts payable, accrued expenses and other current liabilities	$ 119,657	$ 89,816

Liabilities - Components of Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Holdback liability from asset acquisition and business combination	$ 4,560	$ 850
Subsidiary long-term incentive plan	0	3,351
Other liabilities	8,490	5,344
Total other liabilities	$ 13,050	$ 9,545

Debt, Commitments and Contingencies - Convertible Senior Notes (Details)		12 Months Ended
	Jan. 20, 2021 USD ($) day $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 01, 2022	Mar. 31, 2021 USD ($)	Oct. 06, 2017 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of convertible senior notes		$ 0	$ 500,000,000	$ 0
Share price (in dollars per share) \| $ / shares		$ 49.48
2026 Notes
Debt Instrument [Line Items]
Proceeds from issuance of convertible senior notes	$ 484,300,000
Debt issuance costs	$ 15,700,000
Redemption price percentage	100.00%
Share conversion ratio	0.0067939
Share conversion price (in dollars per share) \| $ / shares	$ 147.19
Debt discount for conversion option			77,200,000
Debt issuance costs			2,400,000
Net carrying value			74,800,000
Debt discount and debt issuance cost deferred tax liability						$ 18,300,000
2026 Notes \| Redemption Period One
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Threshold percentage of stock price trigger	130.00%
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
2026 Notes \| Redemption Period Two
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	130.00%
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Number of business days \| day	5
Number of consecutive trading days \| day	10
Threshold percent of last reported sale price	98.00%
Senior Notes \| 2026 Notes
Debt Instrument [Line Items]
Debt amount	$ 500,000,000
Interest rate	0.00%
Effective interest rate	4.00%				0.60%
Debt instrument, fair value		$ 411,500,000	452,500,000
Revolving Credit Facility \| Line of Credit \| 2017 Facility
Debt Instrument [Line Items]
Long-term debt	$ 110,000,000	$ 0	$ 0				$ 72,000,000

Debt, Commitments and Contingencies - Carrying Amount of Liability Component (Details) - 2026 Notes - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal	$ 500,000	$ 500,000
Unamortized debt discount	0	(63,520)
Unamortized debt issuance costs	(9,630)	(11,135)
Net carrying amount	$ 490,370	$ 425,345

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Quarterly Financial Information Disclosure [Abstract]

Debt, Commitments and Contingencies - Summary of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 3,126	$ 15,823	$ 108
2026 Notes
Debt Instrument [Line Items]
Amortization of debt discount	0	13,678	0
Amortization of debt issuance costs	3,126	2,139	0
Total interest expense	$ 3,126	$ 15,817	$ 0

Debt, Commitments and Contingencies - 2017 Facility (Details) - USD ($)			1 Months Ended	12 Months Ended
	Jan. 20, 2021	Mar. 25, 2020	Jan. 20, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 06, 2017
Debt Instrument [Line Items]
Proceeds from credit facility				$ 0	$ 0	$ 50,000,000
Repayments of lines of credit				0	110,000,000	3,000,000
Loss on early extinguishment of debt				0	185,000	$ 0
Revolving Credit Facility \| 2017 Facility
Debt Instrument [Line Items]
Proceeds from credit facility		$ 50,000,000
Repayments of lines of credit	$ 110,000,000
Loss on early extinguishment of debt					200,000
Revolving Credit Facility \| 2017 Facility \| Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity							$ 125,000,000
Long-term debt	$ 110,000,000		$ 110,000,000	$ 0	$ 0		72,000,000
Maximum borrowing capacity							$ 175,000,000
Unused line commitment fee (percentage)			0.20%
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)				0.50%
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)				1.00%
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Scenario One, Leverage Ratio
Debt Instrument [Line Items]
Interest rate terms, leverage ratio			1.00
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Scenario Two, Leverage Ratio \| Minimum
Debt Instrument [Line Items]
Interest rate terms, leverage ratio			1.00
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Scenario Two, Leverage Ratio \| Maximum
Debt Instrument [Line Items]
Interest rate terms, leverage ratio			2.00
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Scenario Three, Leverage Ratio \| Minimum
Debt Instrument [Line Items]
Interest rate terms, leverage ratio			2.00
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Scenario Three, Leverage Ratio \| Maximum
Debt Instrument [Line Items]
Interest rate terms, leverage ratio			3.00
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Scenario Four, Leverage Ratio \| Maximum
Debt Instrument [Line Items]
Interest rate terms, leverage ratio			3.00
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Less than 1.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.50%
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Greater than or equal to 1.00 but less than 2.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.75%
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Greater than or equal to 2.00 but less Than 3.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.00%
Revolving Credit Facility \| 2017 Facility \| Line of Credit \| LIBOR \| Greater than or equal to 3.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.50%

Debt, Commitments and Contingencies - Legal Proceedings (Details) $ in Thousands									1 Months Ended	3 Months Ended								12 Months Ended			36 Months Ended
	Jan. 04, 2023 patent	Mar. 22, 2022 patent	Jan. 10, 2022 patent	Oct. 29, 2021 patent	Jul. 28, 2021 patent	Jul. 22, 2021 patent	Feb. 25, 2021 patent	Jun. 02, 2015 patent	Oct. 31, 2019 patent	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) patent	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 patent
Loss Contingencies [Line Items]
Total revenue \| $										$ (208,139)	$ (216,138)	$ (212,845)	$ (205,437)	$ (195,290)	$ (192,324)	$ (188,857)	$ (172,498)	$ (842,559)	$ (748,969)	$ (618,003)
Net income \| $										(17,790)	$ (18,110)	$ (10,828)	$ (8,903)	$ (8,841)	$ (13,294)	$ (14,490)	$ (14,550)	(55,631)	(51,175)	(76,660)
SaaS and license revenue
Loss Contingencies [Line Items]
Total revenue \| $																		$ (520,377)	$ (460,372)	$ (393,257)
Pending Litigation \| SaaS and license revenue
Loss Contingencies [Line Items]
Total revenue \| $										6,000
Net income \| $										$ 6,000
Pending Litigation \| Vivint, Inc. vs. Alarm.com Holdings, Inc
Loss Contingencies [Line Items]
Number of patents allegedly infringed								6
Number of patents found unpatentable																					5
Claims severed to move into a separate case				2
Number of patents allegedly infringed by elements in solution								1
Pending Litigation \| Vivint, Inc. vs. Alarm.com Holdings, Inc \| Subsequent Event
Loss Contingencies [Line Items]
Number of patents allegedly infringed	15
Pending Litigation \| EcoFactor, Inc. vs. Alarm.com Holdings, Inc.
Loss Contingencies [Line Items]
Number of patents allegedly infringed			5						2
Number of patents under ex parte reexamination																		2
Number of patents under reexamination																		3
Pending Litigation \| Causam Enterprises, Inc vs Alarm.com Holdings, Inc
Loss Contingencies [Line Items]
Number of patents allegedly infringed						4
Pending Litigation \| Causam Enterprises, Inc vs Alarm.com Holdings, Inc and EnergyHub, Inc
Loss Contingencies [Line Items]
Number of patents allegedly infringed					4
Pending Litigation \| Vivint, Inc vs ADT LLC
Loss Contingencies [Line Items]
Number of patents allegedly infringed		5
Patents under inter partes review		2
Pending Litigation \| Vivint, Inc vs ADT LLC \| Minimum
Loss Contingencies [Line Items]
Number of patents allegedly infringed							1

Stockholders' Equity (Details)				12 Months Ended
Stockholders' Equity (Details)	Feb. 15, 2023 USD ($)	Dec. 03, 2020 USD ($)	Nov. 29, 2018 USD ($)	Dec. 31, 2022 USD ($) class_of_stock shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Jul. 01, 2015 shares
Accelerated Share Repurchases [Line Items]
Number of classes of stock authorized \| class_of_stock				2
Common stock, shares authorized (in shares)				300,000,000	300,000,000		300,000,000
Preferred stock, shares authorized (in shares)				10,000,000	10,000,000		10,000,000
Common stock, shares issued (in shares)				50,985,454	50,406,606
Common stock, shares outstanding (in shares)				49,452,709	50,259,453
Preferred stock, shares issued (in shares)				0	0
Preferred stock, shares outstanding (in shares)				0	0
Common stock votes per share				1
Stock repurchase program, authorized amount \| $		$ 100,000,000	$ 75,000,000
Period of stock repurchase		3 years	2 years
Repurchase of unvested shares (in shares)				1,385,592	0	147,153
Purchases of treasury stock \| $				$ 78,844,000	$ 0	$ 5,149,000
Payment of tax withholding related to vesting of restricted stock units \| $				$ 0	$ 4,476,000	$ 0
Subsequent Event
Accelerated Share Repurchases [Line Items]
Stock repurchase program, authorized amount \| $	$ 100,000,000
Period of stock repurchase	2 years

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 52,654	$ 38,694	$ 29,176
Tax windfall benefit from stock-based awards	2,022	10,063	8,202
Stock options and assumed options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,654	3,707	3,406
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	48,798	34,799	25,605
Employee stock purchase plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	202	188	165
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	4,342	4,432	3,025
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	15,037	9,941	7,996
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 33,275	$ 24,321	$ 18,155

Stock-Based Compensation - 2015 Equity Incentive Plan (Details) - shares	1 Months Ended		12 Months Ended
	Nov. 30, 2022	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for issuance, percentage of annual increase (percent)		5.00%
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for issuance (in shares)				4,700,000
Common shares reserved for issuance, annual increase period (not more than) (years)			10 years
Common shares reserved for issuance, percentage of annual increase (percent)	5.00%		5.00%
Shares available to be issued (in shares)			7,620,703
Common shares reserved for issuance, annual increase (in shares)	2,472,635	2,512,972
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available to be issued (in shares)			0

Stock-Based Compensation - Stock Options (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years
Repurchase of unvested shares (in shares)	1,385,592	0	147,153
Granted (in shares)	184,500	143,700	143,650
Weighted average grant date fair value for stock options (USD per share)	$ 24.68	$ 36.63	$ 16.79
Fair value of stock options vested during period	$ 3,300,000	$ 3,400,000	$ 3,600,000
Aggregate intrinsic value of stock options exercised during period	5,725,000	21,900,000	33,400,000
Compensation cost not yet recognized on nonvested awards	5,600,000
Cash received from exercise of stock options	$ 2,500,000	$ 4,200,000	$ 10,200,000
Stock options and assumed options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend rate (percent)	0.00%	0.00%	0.00%
Compensation cost not yet recognized, period for recognition (in years)	2 years 4 months 24 days
2009 and 2015 Plan \| Accounts Payable, Accrued Expenses and Other Current Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability from proceeds of early exercise of stock options	$ 0	$ 0
2009 and 2015 Plan \| Stock options and assumed options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years
Award expiration period (in years)	10 years
Common Stock \| 2009 and 2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares of common stock outstanding (shares)	0	0
Common Stock \| 2009 and 2015 Plan \| Stock options and assumed options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of unvested shares (in shares)	0	0	0

Stock-Based Compensation - Assumptions Used for Estimating Fair Value (Details) - Stock options and assumed options	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility, minimum (percent)	40.20%	41.80%	39.20%
Volatility, maximum (percent)	41.80%	42.60%	42.30%
Risk-free interest rate, minimum (percent)	2.90%	1.00%	0.40%
Risk-free interest rate, maximum (percent)	3.90%	1.20%	1.80%
Dividend rate (percent)	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 2 months 12 days	6 years 2 months 12 days	6 years 2 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 3 months 18 days	6 years 8 months 12 days	6 years 8 months 12 days

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Options
Beginning balance (in shares)	1,167,481
Granted (in shares)	184,500	143,700	143,650
Exercised (in shares)	(122,664)
Forfeited (in shares)	(41,316)
Expired (in shares)	(1,350)
Ending balance (in shares)	1,186,651	1,167,481
Weighted Average Exercise Price Per Share
Beginning balance (USD per share)	$ 35.99
Granted (USD per share)	60.80
Exercised (USD per share)	20.35
Forfeited (USD per share)	61.90
Expired (USD per share)	2.95
Ending balance (USD per share)	$ 40.60	$ 35.99
Weighted Average Remaining Contractual Life and Aggregate Intrinsic Value
Outstanding, weighted average remaining contractual life (in years)	5 years 7 months 6 days	5 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value [Roll Forward]
Outstanding, beginning balance, aggregate intrinsic value	$ 57,129
Aggregate intrinsic value of stock options exercised during period	5,725	$ 21,900	$ 33,400
Outstanding, ending balance, aggregate intrinsic value	$ 18,309	$ 57,129
Vested and expected to vest (in shares)	1,186,651
Vested and expected to vest, weighted average exercise (USD per share)	$ 40.60
Vested and expected to vest, weighted average remaining contractual life (in years)	5 years 7 months 6 days
Vested and expected to vest, aggregate intrinsic value	$ 18,309
Exercisable (in shares)	758,291
Exercisable, weighted average exercise (USD per share)	$ 29.05
Exercisable, weighted average remaining contractual life (in years)	4 years 1 month 6 days
Exercisable, aggregate intrinsic value	$ 17,347

Stock-Based Compensation - Restricted Stock Units (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years
RSUs without Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,123,076	837,576	498,416
Unrecognized compensation expense	$ 82,900,000
Compensation cost not yet recognized, period for recognition (in years)	2 years 6 months
Granted (USD per share)	$ 63.76	$ 86.35	$ 50.61
Fair value of shares vested in period	$ 24,300,000	$ 20,900,000	$ 9,000,000
RSUs with Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	168,223	120,314	66,000
Unrecognized compensation expense	$ 12,300,000
Compensation cost not yet recognized, period for recognition (in years)	2 years 10 months 24 days
Granted (USD per share)	$ 71.64	$ 87.53	$ 56.83
Fair value of shares vested in period	$ 0	$ 1,100,000	$ 0

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
RSUs without Performance Conditions
Number of RSUs
Beginning balance (in shares)	1,797,899
Granted (in shares)	1,123,076	837,576	498,416
Vested (in shares)	(429,892)
Forfeited (in shares)	(223,229)
Ending balance (in shares)	2,267,854	1,797,899
Weighted Average Grant Date Fair Value
Beginning balance (USD per share)	$ 64.71
Granted (USD per share)	63.76	$ 86.35	$ 50.61
Vested (USD per share)	56.46
Forfeited (USD per share)	66.15
Ending balance (USD per share)	$ 65.67	$ 64.71
Aggregate Intrinsic Value (in thousands)
Beginning balance	$ 152,480
Vested	27,907
Ending balance	$ 112,213	$ 152,480
Vested and expected to vest (in shares)	2,267,854
Vested and expected to vest (USD per share)	$ 65.67
Vested and expected to vest, aggregate intrinsic value	$ 112,213
RSUs with Performance Conditions
Number of RSUs
Beginning balance (in shares)	129,718
Granted (in shares)	168,223	120,314	66,000
Vested (in shares)	0
Forfeited (in shares)	(3,019)
Ending balance (in shares)	294,922	129,718
Weighted Average Grant Date Fair Value
Beginning balance (USD per share)	$ 76.64
Granted (USD per share)	71.64	$ 87.53	$ 56.83
Vested (USD per share)	0
Forfeited (USD per share)	62.38
Ending balance (USD per share)	$ 73.94	$ 76.64
Aggregate Intrinsic Value (in thousands)
Beginning balance	$ 11,001
Vested	0
Ending balance	$ 14,593	$ 11,001
Vested and expected to vest (in shares)	279,267
Vested and expected to vest (USD per share)	$ 73.17
Vested and expected to vest, aggregate intrinsic value	$ 13,818

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 52,654,000	$ 38,694,000	$ 29,176,000
Employee stock purchase plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future grant (in shares)	1,929,629
Shares reserved for grant, annual increase period (in years)	9 years
Annual automatic increase in shares available, percentage of each class of common stock outstanding (percent)	1.00%
Annual automatic increase in shares available (in shares)	1,500,000
Fair market value purchase discount (percent)	90.00%
Maximum number of shares participant may purchase, fair market value (not to exceed)	$ 15,000
Maximum number of shares participant may purchase as a percentage of base compensation (not to exceed) (percent)	10.00%
Discount of the market value on the date of purchase (not to exceed) (percent)	10.00%
Shares purchased by employees (in shares)	24,994	19,628	29,933
Total stock-based compensation expense	$ 200,000	$ 200,000	$ 200,000
Purchase period	6 months

Earnings Per Share - Components of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 17,790	$ 18,110	$ 10,828	$ 8,903	$ 8,841	$ 13,294	$ 14,490	$ 14,550	$ 55,631	$ 51,175	$ 76,660
Net loss attributable to redeemable noncontrolling interests									707	1,084	1,193
Net income attributable to common stockholders									56,338	52,259	77,853
Add back interest expense, net of tax, attributable to convertible senior notes									2,352	0	0
Net income attributable to common stockholders - diluted									$ 58,690	$ 52,259	$ 77,853
Weighted average common shares outstanding — basic (in shares)									49,926,236	49,869,857	48,950,328
Dilutive effect of convertible senior notes, stock options and restricted stock units (in shares)									5,006,521	2,050,045	2,012,862
Weighted average common shares outstanding — diluted (in shares)									54,932,757	51,919,902	50,963,190
Net income per share:
Basic (USD per share)	$ 0.36	$ 0.37	$ 0.22	$ 0.18	$ 0.18	$ 0.27	$ 0.30	$ 0.30	$ 1.13	$ 1.05	$ 1.59
Diluted (USD per share)	$ 0.34	$ 0.35	$ 0.21	$ 0.18	$ 0.18	$ 0.26	$ 0.28	$ 0.29	$ 1.07	$ 1.01	$ 1.53

Earnings Per Share - Anti-dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the calculation of diluted weighted average common shares outstanding (in shares)	393,042	142,660	158,515
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the calculation of diluted weighted average common shares outstanding (in shares)	242,842	11,630	62,194

Earnings Per Share - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 20, 2021	Oct. 21, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive effect of shares (in shares)		5,006,521	2,050,045	2,012,862
Debt issuance cost amortization included		$ 2,352	$ 0	$ 0
2026 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion price (in dollars per share)					$ 147.19
Dilutive effect of shares (in shares)	3,396,950	3,396,950
OpenEye
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Percentage of business acquired	85.00%	85.00%				85.00%

Significant Service Providers and Distributors (Details) - Service Provider Concentration Risk - Revenue from Contract with Customer Benchmark	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
10 Largest Service Providers
Concentration Risk [Line Items]
Concentration risk percentage (percent)	49.00%	47.00%	48.00%
Minimum \| Service Provider A
Concentration Risk [Line Items]
Concentration risk percentage (percent)	15.00%	15.00%	15.00%
Maximum \| Service Provider A
Concentration Risk [Line Items]
Concentration risk percentage (percent)	20.00%	20.00%	20.00%

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ 44,591	$ 2,678	$ 3,583
State	10,730	1,437	2,735
Foreign	680	894	438
Total Current	56,001	5,009	6,756
Deferred
Federal	(45,609)	(9,295)	(3,628)
State	(9,271)	(820)	372
Foreign	(159)	0	0
Total Deferred	(55,039)	(10,115)	(3,256)
Total	$ 962	$ (5,106)	$ 3,500

Income Taxes - Income Tax Rate Reconciliation (Details)	12 Months Ended
Income Taxes - Income Tax Rate Reconciliation (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
State income tax expense, net of federal benefits	1.00%	(1.00%)	1.40%
Nondeductible meals and entertainment	0.90%	0.50%	0.10%
Foreign-derived intangible income deduction	(7.00%)	(1.70%)	(1.40%)
Valuation allowance	0.40%	1.10%	1.30%
Research and development tax credits	(16.50%)	(17.70%)	(9.40%)
Tax windfall benefits	(3.00%)	(18.80%)	(8.80%)
Foreign withholding tax	1.20%	1.90%	0.50%
Nondeductible compensation	1.80%	1.90%	0.00%
Other	1.90%	1.70%	(0.30%)
Effective rate	1.70%	(11.10%)	4.40%

Income Taxes - Components of Net Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets, non-current
Provision for credit losses on accounts receivable	$ 1,073	$ 847
Depreciation	445	281
Accrued expenses	5,288	4,749
Deferred revenue	2,274	2,061
Operating lease liabilities	9,757	10,619
Stock-based compensation	22,191	15,461
Acquisition costs	2,363	2,627
Subsidiary unit compensation	0	804
Inventory reserve	654	439
Debt issuance costs	0	402
Net operating losses	3,492	1,262
Tax credits	3,085	9,405
Capitalized research and development expenditures	53,901	0
Other	786	577
Total deferred tax assets, non-current prior to valuation allowance	105,309	49,534
Valuation allowance	(2,591)	(2,209)
Total deferred tax assets, non-current, net of valuation allowance	102,718	47,325
Deferred tax liabilities, non-current
Intangible assets and prepaid patent licenses	(4,354)	(2,905)
Operating lease right-of-use assets	(7,134)	(7,534)
Depreciation	(5,828)	(6,446)
Sales commissions	(1,138)	(896)
Internally developed software	0	(147)
Equity investments	(79)	(92)
Convertible debt discount	0	(15,758)
Total deferred tax liabilities, non-current	(18,533)	(33,778)
Net deferred tax assets, non-current	$ 84,185	$ 13,547

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 5,541	$ 4,228	$ 3,065
Additions based on tax positions of the current year	1,881	1,526	1,166
Additions based on tax positions of prior year	225	15	656
Decreases based on tax positions of prior year	(51)	(10)	(259)
Decreases due to lapse of applicable statute of limitations	0	(218)	(400)
Ending balance	$ 7,596	$ 5,541	$ 4,228

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Effective income tax rate (percent)		1.70%	(11.10%)	4.40%
Deferred tax assets, valuation allowance		$ 2,591,000	$ 2,209,000
Reasonably possible decrease in unrecognized tax benefits		700,000
Unrecognized tax benefits that would impact the effective tax rate		7,400,000	5,400,000
Accrued interest and penalties related to unrecognized tax benefits		300,000	200,000
U.S.
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		15,100,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		600,000
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		2,000,000
Existing Net Operating Loss
Operating Loss Carryforwards [Line Items]
Additions to unrecognized tax benefit	$ 300,000
Deferred tax assets, valuation allowance		0	300,000
State Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Additions to unrecognized tax benefit				$ 1,300,000
Deferred tax assets, valuation allowance		2,600,000	1,900,000
Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Additions to unrecognized tax benefit		2,100,000	$ 1,400,000	$ 1,100,000
Research Tax Credit Carryforward \| U.S.
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards		0
Research Tax Credit Carryforward \| State
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards		$ 3,500,000

Segment Information (Details)	3 Months Ended								12 Months Ended
Segment Information (Details)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment									2
Total revenue	$ 208,139,000	$ 216,138,000	$ 212,845,000	$ 205,437,000	$ 195,290,000	$ 192,324,000	$ 188,857,000	$ 172,498,000	$ 842,559,000	$ 748,969,000	$ 618,003,000
Operating income / (loss)									51,037,000	61,572,000	56,298,000
Assets	1,329,375,000				1,232,015,000				1,329,375,000	1,232,015,000
Amortization and depreciation									30,870,000	29,715,000	27,520,000
Additions to property and equipment									28,640,000	11,062,000	16,141,000
Alarm.com
Segment Reporting Information [Line Items]
Amortization and depreciation									29,600,000	29,300,000	27,200,000
Additions to property and equipment									28,400,000	9,700,000	16,400,000
Other
Segment Reporting Information [Line Items]
Amortization and depreciation									1,200,000	400,000	300,000
Additions to property and equipment									300,000	500,000	1,100,000
Operating Segments \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									796,071,000	711,544,000	586,641,000
Operating income / (loss)									66,744,000	70,646,000	59,194,000
Assets	1,366,343,000				1,264,416,000				1,366,343,000	1,264,416,000
Operating Segments \| Other
Segment Reporting Information [Line Items]
Total revenue									51,340,000	42,824,000	40,696,000
Operating income / (loss)									(16,255,000)	(9,590,000)	(2,908,000)
Assets	53,927,000				37,198,000				53,927,000	37,198,000
Intersegment Eliminations \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									(4,067,000)	(3,089,000)	(3,093,000)
Operating income / (loss)									417,000	766,000	393,000
Assets	(90,929,000)				(69,595,000)				(90,929,000)	(69,595,000)
Intersegment Eliminations \| Other
Segment Reporting Information [Line Items]
Total revenue									(785,000)	(2,310,000)	(6,241,000)
Operating income / (loss)									131,000	(250,000)	$ (381,000)
Assets	$ 34,000				$ (4,000)				$ 34,000	$ (4,000)
Segment Concentration Risk \| Revenue \| Alarm.com
Segment Reporting Information [Line Items]
Concentration risk percentage (percent)									94.00%	95.00%	94.00%
SaaS and license revenue
Segment Reporting Information [Line Items]
Total revenue									$ 520,377,000	$ 460,372,000	$ 393,257,000
SaaS and license revenue \| Operating Segments \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									478,134,000	426,823,000	366,815,000
SaaS and license revenue \| Operating Segments \| Other
Segment Reporting Information [Line Items]
Total revenue									42,243,000	33,549,000	26,442,000
SaaS and license revenue \| Intersegment Eliminations \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									0	0	0
SaaS and license revenue \| Intersegment Eliminations \| Other
Segment Reporting Information [Line Items]
Total revenue									0	0	0
Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue									322,182,000	288,597,000	224,746,000
Hardware and other revenue \| Operating Segments \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									317,937,000	284,721,000	219,826,000
Hardware and other revenue \| Operating Segments \| Other
Segment Reporting Information [Line Items]
Total revenue									9,097,000	9,275,000	14,254,000
Hardware and other revenue \| Intersegment Eliminations \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									(4,067,000)	(3,089,000)	(3,093,000)
Hardware and other revenue \| Intersegment Eliminations \| Other
Segment Reporting Information [Line Items]
Total revenue									(785,000)	(2,310,000)	(6,241,000)
Software License Revenue \| Alarm.com
Segment Reporting Information [Line Items]
Total revenue									26,800,000	32,300,000	38,000,000
Software License Revenue \| Other
Segment Reporting Information [Line Items]
Total revenue									$ 0	$ 0	$ 0

Quarterly Financial Data (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

$ 208,139

$ 216,138

$ 212,845

$ 205,437

$ 195,290

$ 192,324

$ 188,857

$ 172,498

$ 842,559

$ 748,969

$ 618,003

Net income attributable to parent

79,572

85,586

87,336

90,087

82,386

80,384

77,367

65,762

342,581

^[1]

305,899

^[1]

227,428

^[1]

Net income

17,790

18,110

10,828

8,903

8,841

13,294

14,490

14,550

$ 55,631

$ 51,175

$ 76,660

$ 18,085

$ 18,332

$ 10,842

$ 9,079

$ 9,146

$ 13,538

$ 14,745

$ 14,830

Net income per share attributable to common stockholders

Basic (USD per share)

$ 0.36

$ 0.37

$ 0.22

$ 0.18

$ 0.27

$ 0.30

$ 1.13

$ 1.05

$ 1.59

Diluted (USD per share)

$ 0.34

$ 0.35

$ 0.21

$ 0.18

$ 0.26

$ 0.28

$ 0.29

$ 1.07

$ 1.01

$ 1.53

[1]	Exclusive of amortization and depreciation shown in operating expenses below.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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