Operator

Good day, and thank you for standing by. Welcome to the Alarm.com First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Matthew Zartman. Please go ahead.

Matthew Zartman
Vice President of Strategic Communications & Investor Relations

Thank you. Good afternoon, everyone, and welcome to Alarm.com’s First Quarter 2026 Earnings Conference Call. Please note that this call is being recorded. Joining us today are Steve Trundle, our CEO; and Kevin Bradley, our CFO.

During today’s call, we will be making forward-looking statements, which are predictions, projections, estimates and other statements about future events. These statements are based on current expectations and assumptions that are subject to and uncertainties that may cause actual results to differ materially from our current expectations. We refer you to the risk factors discussed in our Form 8-K and the associated press release, which were filed with the SEC earlier today. The call is subject to these risk factors, and we encourage you to review them.

Alarm.com assumes no obligation to update 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

Rupak De, Senior Technical Analyst at LKP Securities, said the mood has further deteriorated as the index also moved below the 50-day EMA on the intraday timeframe. In addition, the RSI has re-entered a bearish crossover on the daily chart, reflecting weakening momentum, he said.

“Overall, the sentiment appears weak, with heavy call writing visible around the 24,200 strike. If the Nifty sustains below 24,200 on Monday, the index could witness further correction towards the 24,050–24,000 zone. On the other hand, a move back above 24,200 may trigger a near-term recovery rally towards 24,350–24,400,” De said.

Here are the 2 stocks to buy:

Coforge Limited has witnessed a strong rebound from lower levels and recently given a breakout above the crucial Rs 1,330–1,350 resistance zone, supported by strong volumes. The stock is trading above short-term EMAs, while RSI has moved above 65, indicating improving bullish momentum. The breakout also signals a possible trend reversal after a prolonged corrective phase. A buy at CMP (Rs 1,365–1,370) can be considered with a stop loss near Rs 1,320. On the upside, the stock may head towards Rs 1,420–1,460 in the near term. Sustaining above Rs 1,330 will be important for the continuation of the positive momentum.

Live Events

(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)

Buy NBCC (India) at Rs 101 | Upside: 7% | Stop Loss: Rs 97-98 | Target: Rs 104-108

NBCC (India) Limited is showing signs of a strong recovery after a prolonged correction, with the stock reclaiming all major EMAs and giving a breakout above the Rs 98–100 resistance zone. Rising volumes and RSI near 70 indicate strengthening bullish momentum. The stock has formed a higher high–higher low structure, suggesting continuation of the uptrend. A buy at CMP (Rs 100–101) can be considered with a stop loss near Rs 97–98. On the upside, the stock may head towards Rs 104–108 in the short term. Sustaining above the breakout zone of Rs 98 will remain crucial for maintaining the positive bias.
(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

CLEVELAND — KeyBank customers across the United States encountered significant disruptions Saturday as the regional bank’s online banking platform and mobile app experienced a widespread outage, preventing many from accessing accounts, making transfers or completing routine transactions on a busy weekend. While core branch and ATM services remained operational, the digital banking failure frustrated thousands of users who reported login errors, frozen screens and failed fund transfers throughout the day.

Downdetector and other outage tracking sites showed a sharp spike in user reports beginning early Saturday morning, with the majority of complaints centered on the mobile app and online banking portal. As of Saturday evening, many services had partially recovered, but intermittent issues persisted for some customers, according to real-time monitoring data. KeyBank has not issued a detailed public explanation but confirmed it is actively working to restore full functionality.

A KeyBank spokesperson said in a statement: “We are aware of the technical issues impacting our digital banking services and apologize for any inconvenience. Our teams are working urgently to resolve the matter and restore normal access as quickly as possible.” The bank encouraged customers to use branch locations, ATMs or the automated phone system for urgent needs during the disruption.

The outage comes at an inconvenient time for many customers, with Mother’s Day weekend shopping, bill payments and travel-related transactions peaking. Social media platforms filled with complaints, memes and expressions of frustration from users unable to check balances or send payments. Some reported being locked out entirely, while others could log in but faced delays or error messages when attempting transfers or deposits.

Scope of the Disruption

Reports indicate the problems primarily affected online banking and the mobile app, with users unable to view account balances, pay bills, transfer funds or deposit checks remotely. ATM and in-branch services continued without major interruptions, though some customers noted longer-than-usual wait times at branches as people sought alternatives to digital channels. International wire transfers and certain business banking features were also impacted for a period.

KeyBank serves millions of customers primarily in the Northeast and Midwest, with a strong presence in Ohio, New York, Pennsylvania and other states. The outage appeared nationwide rather than regionally concentrated, suggesting a central system or cloud-related issue rather than a localized problem.

This is not the first time KeyBank has faced digital banking challenges. Similar, though shorter, disruptions occurred earlier in 2026, prompting the bank to invest in infrastructure upgrades. Industry analysts suggest that rapid growth in digital banking usage, combined with increasing cybersecurity threats, has strained legacy systems at several regional banks.

Customer Impact and Frustration

Many customers took to social media to voice their dissatisfaction. “Been trying to pay my rent for two hours — KeyBank app is completely down,” one user posted. Others expressed concern about time-sensitive payments, including mortgages, utilities and payroll deposits. Small business owners reported particular difficulty managing cash flow during the outage.

KeyBank’s customer service lines experienced longer hold times as callers sought assistance. The bank activated additional support staff and encouraged use of its automated systems where possible. Some users reported success using the website via desktop browsers when the app remained unresponsive.

Financial experts advise customers facing urgent needs to visit a physical branch with proper identification or use alternative payment methods such as cash, checks or services from other institutions if available. Once systems are fully restored, users should review account activity carefully for any delayed transactions.

Possible Causes and Technical Context

While KeyBank has not confirmed the root cause, industry observers point to several common triggers for such outages: scheduled maintenance gone wrong, cloud service provider issues, cybersecurity incidents or unexpected spikes in traffic. The timing on a Saturday — typically a lower-volume day — suggests it may have been related to backend maintenance or a third-party service failure.

Regional banks like KeyBank often rely on a mix of in-house systems and external vendors for digital platforms, increasing vulnerability to cascading failures. The increasing sophistication of cyber threats has also forced banks to implement frequent updates and patches, sometimes leading to unintended disruptions.

The Consumer Financial Protection Bureau and state banking regulators monitor such incidents closely. While isolated outages are common in the industry, repeated or prolonged disruptions can trigger greater scrutiny and potential fines if customer harm is demonstrated.

KeyBank’s Response and Recovery Efforts

The bank has prioritized restoring mobile app functionality first, given its popularity among younger and on-the-go customers. Technical teams are conducting system-wide checks to prevent recurrence. Customers affected by delayed transactions or fees incurred due to the outage are encouraged to contact support for potential reimbursement once services normalize.

KeyBank has a history of transparent communication during technology issues and typically offers goodwill gestures such as waived fees for impacted customers. An official post-incident review is expected in the coming days.

Broader Implications for Digital Banking

This outage highlights the growing reliance on digital banking and the vulnerabilities that come with it. As more consumers shift away from branches, even brief disruptions can cause significant inconvenience. Banks across the country continue investing billions in cybersecurity, cloud infrastructure and redundant systems to minimize future risks.

For KeyBank specifically, the incident may accelerate plans for platform modernization. The bank has been expanding its digital offerings in recent years to compete with larger national players and fintech disruptors. Maintaining trust through reliable service remains critical in a competitive market.

Customers are advised to keep multiple access methods available — including desktop websites, mobile apps and phone banking — and to maintain up-to-date contact information with the bank. Setting up alerts for account activity can also help catch any delayed transactions quickly.

As services continue to recover Saturday evening, KeyBank urged patience and thanked customers for their understanding. Full restoration is expected within hours, though some residual delays in transaction processing may linger into Sunday.

The incident serves as a reminder of both the convenience and fragility of modern digital banking. While KeyBank works to resolve the current issues, customers and the broader industry will be watching closely to see how quickly and effectively the bank rebounds from this disruption.

Speaking at Groww India Investor Festival 2026, the market veteran said that decades of compounding, rising financialisation and structural growth trends have built the strong foundation of the Indian market. “I have seen Sensex go from 100 to 80,000 in 40 years. For me to believe the journey will be any different over the next 40 years, there is no argument for that,” Agrawal said.

Markets in South Korea and Japan have recently seen sharp surges to record highs, while Dalal Street delivered comparatively muted returns. Many analysts highlighted that the strong earnings growth by several of these markets, thanks to the AI boom, is attracting FPI flows into those markets. Agrawal, however, reaffirmed that India’s long-term structural trajectory remains unmatched, while acknowledging that some regions are currently benefiting from an AI-led earnings cycle.

Drawing a comparison between India’s Sensex and South Korea’s KOSPI, both launched in January 1980, Agrawal pointed out that while the Korean benchmark index is at around 5,000 points today, the Sensex has climbed past 80,000. “Form may be temporary, but class is permanent. India is the way to go,” he said at the event.

The market expert highlighted that India’s market capitalisation has compounded at nearly 14% annually in dollar terms over the last two decades, compared with around 7% for the US market. “Every five to six years, you double. That is the pace,” he added.

Live Events

Why India creates more multibaggers

The MOFSL Chairman said his investing philosophy has always focused on finding businesses operating in fast-growing industries within fast-growing economies. Referring to an internal study inspired by Thomas Phelps’ book ‘100 to 1 in the Stock Market’, Agrawal noted that nearly 20% of companies in the NSE 500 delivered over 25% annualised returns for a decade — effectively becoming 10-baggers. The comparable figure in the S&P 500, he said, stood at just around 7%.
“Multi-bagging happens where growth is fastest. You get the maximum multi-baggers in the country which is growing fastest and in the industry which is growing fastest,” he said. Vision, courage and patience are the three things that act as the formula for identifying outsized winners, according to the market veteran. “Whenever you are hitting a big one, you are mostly alone. You need conviction to stay with it,” he added.
Investors often underestimate how compounding works over long periods, Agrawal said, adding that in a stock that delivers 100x returns over two decades, a disproportionate amount of wealth creation typically happens in the final few years. “You sit through 19 years because most of the compounding comes in the 19th and 20th year,” he said.

The Bharti Airtel bet that shaped his investing career

Raamdeo Agrawal reminisced about his early investment in Bharti Airtel. In 2003, after studying the economics of network businesses and speaking with Sunil Bharti Mittal, the market expert became convinced that India’s mobile revolution would create enormous value.

At the time, India had only around 50 million fixed-line phones for a population of more than one billion. Agrawal estimated Bharti Airtel could generate Rs 27,000–28,000 crore in profits over the following five years, even though its market capitalisation was only around Rs 5,000 crore.

He bought Bharti Airtel’s shares at around Rs 19–30 apiece, despite scepticism from peers and friends. “I was alone all the way through,” he recalled. While he sold some shares early under pressure, he held on to a significant portion as the stock multiplied several times over. His final exit came years later at around Rs 650, translating into roughly a 25-fold return.

The next generation of winners

Agrawal pointed out that India’s expanding capital markets ecosystem can create the next wave of multi-baggers. “We are adding nearly 3 million new customers every month…We already have more than 220 million demat accounts. By 2031–32, we could reach 500–600 million,” he said.

Rising retail participation will create opportunities across brokers, exchanges, asset managers, wealth platforms and depositories, he said, admitting to missing out on the sharp rally in BSE despite understanding the sector deeply.

“The stock went up almost 50 times, and I did not make a single paisa,” he said with a laugh.

Today’s quick commerce momentum is similar to Bharti Airtel in 2003
Agrawal drew parallels between India’s quick commerce industry and the early days of telecom. He said the firms operating in the segment are still in the heavy cash-burn phase, but the underlying network effects could eventually create very large businesses.

“This is a Bharti moment,” he said, referring to the potential scale of India’s quick commerce opportunity. He cited comments from global retail executives, including leadership at Walmart, describing India’s quick commerce ecosystem as a glimpse into the future of retail.

What Raamdeo Agrawal avoids completely

Despite his appetite for growth, Agrawal said that he maintains strict filters while evaluating businesses. He avoids companies generating return on equity below 20% and pays close attention to receivables cycles as an indicator of business quality.

“If return on equity is 9 or 10%, I do not even want to enter the meeting,” he said, adding that management quality remains his biggest filter. “They will go to hell and take you along,” he said, referring to promoters with compromised governance standards.
Agrawal also stressed the importance of visiting factories and observing operations first-hand instead of relying solely on management presentations.

Sensex at 3 lakh by 2036?

Agrawal remained bullish on India’s long-term macroeconomic trajectory, projecting that per capita income could double over the next six to seven years. The market veteran expects Sensex to touch 1.5 lakh by 2030 and potentially 3 lakh by 2036, driven by sustained earnings growth and rising participation in financial assets. “Three lakh in 12 years is more guaranteed than one-and-a-half lakh in six years,” he said. “That is how compounding works,” he said at the event.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Kothari Petrochemicals has set May 11 (Monday) as the record date to determine shareholder eligibility for its interim dividend of Rs 1 per share (10%) with a face value of Rs 10 each. The dividend will be paid on or before June 3.

Manappuram Finance – Dividend

Live Events

Manappuram Finance has set May 11 (Monday) as the record date to determine shareholder eligibility for its interim dividend of Rs 0.50 per share (25%) with a face value of Rs 2 each.
PAE – Dividend
PAE, whose core activity includes marketing and distributing automotive components, has set May 11 (Monday) as the record date to determine shareholder eligibility for its interim dividend of Rs 0.20 per share with a face value of Rs 10 each. Notably, the stock will also turn ex-record date for its 6:1 bonus issue on May 25.
Aptus Pharma – Bonus issue

Aptus Pharma has set May 12 (Tuesday) as the record date for its 3:2 bonus issue. This means that the shareholders who own the shares of the company as on the record date will get 3 bonus shares for every two shares held.

Godrej Consumer Products – Dividend

FMCG-major Godrej Consumer Products has fixed May 12 (Tuesday) as the record date to determine the eligibility of shareholders to receive its interim dividend of Rs 5 per share (500%) with a face value of Rs 1 each. The dividend will be paid on or before June 4.

NRB Bearings – Dividend

Needle roller bearing manufacturer NRB Bearings has fixed May 13 (Wednesday) as the record date to determine the eligibility of shareholders to receive its interim dividend of Rs 2.25 per share (112.5%) with a face value of Rs 1 each.

Brookfield India Real Estate Trust REIT – Dividend

Brookfield India Real Estate Trust REIT has fixed May 14 (Thursday) as the record date to determine the eligibility of shareholders set to receive its prospective dividend, which will be considered and approved by its board of directors during its meeting on Monday.

Oberoi Realty – Dividend

Oberoi Realty has fixed May 14 (Thursday) as the record date to determine the eligibility of shareholders to receive its fourth interim dividend of Rs 2 per share (20%) with a face value of Rs 10 each. The dividend will be paid on or before May 22.

Anand Rathi Wealth – Dividend

Anand Rathi Wealth has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders to receive its interim dividend of Rs 7 per share.

Aptus Value Housing Finance India – Dividend

Aptus Value Housing Finance India has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders to receive its second interim dividend of Rs 2.50 per share (125%) with a face value of Rs 2 each.

Biogen Pharmachem Industries – Bonus issue

Biogen Pharmachem Industries has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders for its 1:6 bonus issue. The company had announced in April that it will issue “1 new equity shares of Rs.1 each for every 6 existing equity shares of Rs.1 each fully paid up”.

Dev Labtech Venture – Bonus issue, stock split

Dev Labtech Venture has set May 15 (Friday) as the record date for 1:1 bonus issue and 1:2 stock split. As part of the bonus issue, eligible shareholders will get one bonus share for every share held in the company as on the record date. As part of the stock split, each share of the company will be split into two shares.

Gopal Snacks – Dividend

Gopal Snacks has fixed May 16 (Saturday) as the record date to determine the eligibility of shareholders to receive its prospective third interim dividend which may be considered and approved by its board of directors during its meeting scheduled on Tuesday. As the record day falls on a weekend when markets are closed, May 15 will be the effective record date.

HBG Hotels – Dividend

HBG Hotels has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders to receive its interim dividend of Rs 0.15 per share (1.5%).

IEX – Dividend

Indian Energy Exchange (IEX) has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders to receive its final dividend of Rs 2 per share with a face value of Rs 1 each.

Kennametal India

Kennametal India has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders to receive its interim dividend of Rs 40 per share (400%).

Nexus Select Trust

Nexus Select Trust has fixed May 15 (Friday) as the record date to determine the eligibility of shareholders to receive its prospective dividend that its board may consider and approve during its upcoming meeting this week.

State Bank of India

State Bank of India (SBI) declared a dividend of Rs 17.35 per equity share for the financial year ended March 31, 2026. The bank has fixed May 16 (Saturday) as the record date for determining the eligibility of shareholders entitled to receive the dividend. As the record date falls on a weekend when markets are closed, May 15 will be the effective record date. The dividend payment is scheduled to be made on June 4, 2026, the bank said in a regulatory filing on Friday.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

This article was written by

Follow

Analyst’s Disclosure: I/we have a beneficial long position in the shares of KEYS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.