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AlarmForce releases Q3 results

AlarmForce Industries recently announced its third quarter financial results for the period ending July 31, 2017.


September 15, 2017
By SP&T Staff

Graham Badun, president and CEO of AlarmForce Industries, summarized recent changes and additions to the company in a statement, reiterating announcements about the sale of the U.S. subscriber base and a recent Google Home partnership.

“The main highlight of the third quarter was the successful close of the sale of our U.S. subscription base. As outlined in our strategic plan, the company’s higher-costs of operating and acquiring customers in the U.S. and low shareholder value made us determined to vacate this market. With the successful divestiture near completed, the Canadian market will now be our sole focus. During the third quarter we also launched our partnership with Google Home. This partnership represents our continued effort to offer state of the art home automation related products to our customers.
Over 5.1 per cent of Canadian homes now have this technology and the number is expected to reach 27.7 per cent in 2021 (Statista). Our bundle offerings continue to grow.
Through the first nine months of this fiscal year our new subscribers include Alarmforce Secure at 28%, AlarmForce Connect at 49%, AlarmForce Control at 5%, and AlarmForce Command at 18%.
This is a clear indication that Canadians are seeking more comprehensive home automation packages and AlarmForce is properly positioned to meet this growing demand.”

A more detailed report is available on the Alarmforce website.

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