Alarm.com just crossed $1B in annual revenue. They're seeing good growth in commercial and energy sectors, which now make up a quarter of their SaaS revenue. EnergyHub is expanding fast, and they acquired Resideo Grid Services to help scale that further. Management raised their 2026 SaaS guidance to around $744M. They plan to pass any tariff increases directly to customers and don't expect it to hurt demand. They also retired $500M in convertible notes to prevent share dilution.