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Side-by-side financial comparison of Alarm.com Holdings, Inc. (ALRM) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $261.7M, roughly 1.5× Alarm.com Holdings, Inc.). Alarm.com Holdings, Inc. runs the higher net margin — 13.2% vs -1.9%, a 15.2% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 8.0%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 8.3%).
Alarm.com, Inc. is an American technology company that provides cloud-based services for remote control, home automation, and alarm monitoring services. The company was founded in 2000 as a spinoff from MicroStrategy. The company is based in Tysons, Virginia.
Innovate Corp. is an American public financial services company founded in 1994.
ALRM vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $261.7M | $382.7M |
| Net Profit | $34.6M | $-7.4M |
| Gross Margin | 66.0% | 15.4% |
| Operating Margin | 13.4% | 3.7% |
| Net Margin | 13.2% | -1.9% |
| Revenue YoY | 8.0% | 61.7% |
| Net Profit YoY | 14.8% | 55.4% |
| EPS (diluted) | $0.66 | $-0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $261.7M | $382.7M | ||
| Q3 25 | $256.4M | $347.1M | ||
| Q2 25 | $254.3M | $242.0M | ||
| Q1 25 | $238.8M | $274.2M | ||
| Q4 24 | $242.2M | $236.6M | ||
| Q3 24 | $240.5M | $242.2M | ||
| Q2 24 | $233.8M | $313.1M | ||
| Q1 24 | $223.3M | $315.2M |
| Q4 25 | $34.6M | $-7.4M | ||
| Q3 25 | $35.1M | $-8.9M | ||
| Q2 25 | $34.2M | $-19.8M | ||
| Q1 25 | $27.7M | $-24.5M | ||
| Q4 24 | $30.1M | $-16.6M | ||
| Q3 24 | $36.7M | $-15.0M | ||
| Q2 24 | $33.5M | $14.4M | ||
| Q1 24 | $23.6M | $-17.4M |
| Q4 25 | 66.0% | 15.4% | ||
| Q3 25 | 65.8% | 14.3% | ||
| Q2 25 | 65.6% | 18.8% | ||
| Q1 25 | 67.2% | 16.6% | ||
| Q4 24 | 65.5% | 19.6% | ||
| Q3 24 | 64.8% | 19.9% | ||
| Q2 24 | 65.2% | 21.0% | ||
| Q1 24 | 65.7% | 15.4% |
| Q4 25 | 13.4% | 3.7% | ||
| Q3 25 | 14.4% | 1.8% | ||
| Q2 25 | 12.6% | 2.0% | ||
| Q1 25 | 12.4% | 1.2% | ||
| Q4 24 | 12.7% | 1.1% | ||
| Q3 24 | 13.8% | 2.4% | ||
| Q2 24 | 11.0% | 9.2% | ||
| Q1 24 | 8.4% | 0.9% |
| Q4 25 | 13.2% | -1.9% | ||
| Q3 25 | 13.7% | -2.6% | ||
| Q2 25 | 13.5% | -8.2% | ||
| Q1 25 | 11.6% | -8.9% | ||
| Q4 24 | 12.4% | -7.0% | ||
| Q3 24 | 15.3% | -6.2% | ||
| Q2 24 | 14.3% | 4.6% | ||
| Q1 24 | 10.6% | -5.5% |
| Q4 25 | $0.66 | $-0.57 | ||
| Q3 25 | $0.65 | $-0.71 | ||
| Q2 25 | $0.63 | $-1.67 | ||
| Q1 25 | $0.52 | $-1.89 | ||
| Q4 24 | $0.56 | $-0.72 | ||
| Q3 24 | $0.67 | $-1.18 | ||
| Q2 24 | $0.62 | $1.03 | ||
| Q1 24 | $0.44 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $960.6M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $848.2M | $-240.1M |
| Total Assets | $2.1B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $960.6M | $112.1M | ||
| Q3 25 | $1.1B | $35.5M | ||
| Q2 25 | $1.0B | $33.4M | ||
| Q1 25 | $1.2B | $33.3M | ||
| Q4 24 | $1.2B | $48.8M | ||
| Q3 24 | $1.2B | $51.0M | ||
| Q2 24 | $1.1B | $80.2M | ||
| Q1 24 | $747.9M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $848.2M | $-240.1M | ||
| Q3 25 | $827.2M | $-233.3M | ||
| Q2 25 | $797.3M | $-224.8M | ||
| Q1 25 | $759.6M | $-204.2M | ||
| Q4 24 | $726.5M | $-180.4M | ||
| Q3 24 | $690.3M | $-163.1M | ||
| Q2 24 | $645.5M | $-149.0M | ||
| Q1 24 | $728.1M | $-184.4M |
| Q4 25 | $2.1B | $950.1M | ||
| Q3 25 | $2.1B | $913.2M | ||
| Q2 25 | $2.1B | $890.9M | ||
| Q1 25 | $2.1B | $868.0M | ||
| Q4 24 | $2.0B | $891.1M | ||
| Q3 24 | $2.0B | $897.2M | ||
| Q2 24 | $1.9B | $898.9M | ||
| Q1 24 | $1.5B | $943.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $35.9M | $101.1M |
| Free Cash FlowOCF − Capex | $35.1M | — |
| FCF MarginFCF / Revenue | 13.4% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 1.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $137.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.9M | $101.1M | ||
| Q3 25 | $70.6M | $19.2M | ||
| Q2 25 | $22.7M | $40.4M | ||
| Q1 25 | $24.1M | $-14.1M | ||
| Q4 24 | $56.3M | $41.4M | ||
| Q3 24 | $77.3M | $-28.4M | ||
| Q2 24 | $23.0M | $21.5M | ||
| Q1 24 | $49.9M | $-25.4M |
| Q4 25 | $35.1M | — | ||
| Q3 25 | $65.9M | $19.0M | ||
| Q2 25 | $18.2M | — | ||
| Q1 25 | $17.9M | $-18.8M | ||
| Q4 24 | $54.0M | $34.2M | ||
| Q3 24 | $74.5M | $-31.5M | ||
| Q2 24 | $21.0M | $18.4M | ||
| Q1 24 | $46.8M | $-31.0M |
| Q4 25 | 13.4% | — | ||
| Q3 25 | 25.7% | 5.5% | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 7.5% | -6.9% | ||
| Q4 24 | 22.3% | 14.5% | ||
| Q3 24 | 31.0% | -13.0% | ||
| Q2 24 | 9.0% | 5.9% | ||
| Q1 24 | 21.0% | -9.8% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 1.9% | 0.1% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.6% | 1.7% | ||
| Q4 24 | 0.9% | 3.0% | ||
| Q3 24 | 1.2% | 1.3% | ||
| Q2 24 | 0.9% | 1.0% | ||
| Q1 24 | 1.4% | 1.8% |
| Q4 25 | 1.04× | — | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 1.87× | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.69× | 1.49× | ||
| Q1 24 | 2.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALRM
| License And Service | $180.2M | 69% |
| Hardwareand Other Revenue | $81.4M | 31% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
