Thank you for standing by. Welcome to Alarm.com's first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question-and-answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Matthew Zartman, Vice President of Investor Relations. Please go ahead.
Thank you, Operator. Good afternoon, everyone. Joining us today are Steve Trundle, Alarm.com's CEO, and Kevin Bradley, our CFO. During today's call, we will be making forward-looking statements, which are predictions, projections, estimates, or other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. We refer you to the risk factors discussed in our quarterly report on Form 10-Q and our Form 8-K, which will be filed shortly with the SEC, along with the associated press release. This call is subject to these risk factors, and we encourage you to review them. Alarm.com assumes no obligation to update these forward-looking statements or other information that speak as of their respective dates. In addition, several non-GAAP financial measures will be discussed on the call.
A reconciliation of GAAP to non-GAAP measures can be found in today's press release on our Investor Relations website. I'll now turn the call over to Steve Trundle. Steve?
Thank you, Matt. Good afternoon and welcome to everyone. We're pleased to report financial results for the first quarter that exceeded our expectations. SaaS and license revenue in the first quarter grew to $163.8 million and adjusted EBITDA was $43.5 million. Our stronger-than-expected SaaS results were driven by contributions from our growth initiatives in the commercial and energy markets and higher revenue retention on the residential side of the business. We did not see any material changes to demand during the quarter due to the evolving macro environment. Before going much further, I'd like to welcome our new CFO, Kevin Bradley. Kevin has worked his way up through our finance organization and has been with the company since 2009. For the last eight years, Kevin has been our Vice President of Financial Planning and Analysis.
He has been the key financial partner for our business leaders and has been instrumental in shaping all aspects of our financial strategy. Because he already has a deep understanding of our business models, markets, and financial levers, he has been able to hit the ground running since becoming our CFO. I look forward to continuing to introduce Kevin to our investors and analysts over the coming months. During the quarter, I attended ISC West, our largest security industry trade event. This year, we unified our booth presentation with the full breadth of our residential and commercial solutions, including OpenEye, Shooter Detection Systems, and CHeKT. One positive takeaway from the event was that most of the service provider partners I spoke with are steadily expanding their use of our commercial services.
They expect Alarm.com to continue to innovate for this market, which enables them to gain operational efficiency through more standardization around our commercial offerings. As more Alarm.com services are installed into a given commercial site, we see improved revenue retention, which is currently 98% for our commercial subscribers, well above our consolidated revenue retention target range of 92%-94%. Turning to our video solutions, I want to provide an update on the 729 Floodlight video camera product, as it has now been in market for just over a year. We designed the 729 to leverage our video analytics-based proactive deterrence capabilities and our remote video monitoring software. Since launch, our partners have increasingly incorporated the 729 and associated services into their offerings. This product is being installed into nearly 4,000 properties per month now, and we're seeing strong attachment rates of our video analytics services.
Over 85% of installed 729 cameras also have a subscription to access our proactive deterrent solution called Perimeter Guard. Our video services are also beginning to take more of a hold in the international markets. During the first quarter, 30% of new international accounts included video, about twice the rate of the same period a year ago. To build on that progress, we will upgrade our entry-level video camera later this year. The new 516 Wi-Fi camera will offer even better capabilities at a lower price point and should further broaden the adoption of our video analytics service in residential markets, particularly internationally. I'll now turn to an update on Energy Hub. As a quick reminder, Energy Hub supports utilities as they adapt to the long-term structural shift towards further electrification.
Demand for EnergyHub's platform is growing as EV adoption, the proliferation of AI data centers, and extreme weather all stress the grid. In addition, electricity supply is increasingly difficult for utilities to manage and forecast when intermittent renewable energy sources make up a growing portion of electricity production. EnergyHub provides load flexibility solutions for managing demand and matching it to supply in real time. In the first quarter, EnergyHub announced a strategic partnership with General Motors Energy to integrate GM EVs and home battery storage solutions into the EnergyHub ecosystem. Through this program, owners of eligible GM electric vehicles will be able to receive meaningful incentives from their local utility to enroll in flexibility programs managed by EnergyHub software. This new partnership with GM adds to the relationships that EnergyHub has with other EV makers, which include Tesla and Toyota.
Over time, we expect managed charging will significantly contribute to Energy Hub's market position and strategic value to its electric utility partners. Lastly, I want to touch on tariffs briefly, which Kevin will expand on. U.S. tariff policies are obviously difficult to predict, and the trade environment can substantially change with little warning. We are in a position to effectively manage the 10% baseline tariffs that are currently in place. We have also significantly improved and diversified our supply chain over the last several years. Currently, less than 10% of our hardware revenue is derived from products shipped from China. In closing, I'd like to thank our service provider partners and our Alarm.com team for their dedication and our investors for their ongoing support. With that, I'll turn the call over to Kevin Bradley for a review of our financial performance. Kevin?