Verkada's Revenue Grew 21% In Q2 2020, Says Verkada Sales Recruiter Who Then Blocks Me And Deletes Post

Interesting financial detail revealed:

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When I commented on the post asking if the growth rate was year over year or quarter over quarter, the Verkada recruiter promptly blocked me on LinkedIn and deleted the post.

Inside, we will analyze the financial metric, Verkada's growth, and future.

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For growth rate, it's important to keep in mind the hiring rate, since growing staff is a key driver of growing revenue:

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In the last year, Verkada's staff is up 146%. Since January 2019, the company's headcount is up ~500% (from 85 to 423, per LinkedIn).

In January 2020, when they announced raising $80 million, they said they tripled revenue in 2019 (over 2018).

Verkada's recruiter does not clarify the comparable for 21% but let's assume it's quarter over quarter since year over year would be very bad relative to the amount of hiring they have done in the past year.

Assuming 21% quarter over quarter, is that good? For a non-VC company in a pandemic that would be great but for a company that has net added 60 people since the pandemic started and over 100 since the beginning of 2020, it's OK but not that impressive.

Nonetheless, what is impressive is the $80 million raised at the valuation they got 2 months before a pandemic and deep recession. Verkada is well stocked to deal with this situation.

What I am curious to see is when or if Verkada will hit material challenges. Most startups, even super well funded ones eventually grow to a point where their tactics stop working as well and cause problems. It's funny that Verkada sees Avigilon as the old guard whose is friendly with IPVM because Avigilon used to be every bit the bad behaving actor that Verakada now is. And Avigilon had its own challenges growing up, see e.g., Avigilon COO Schmode Ousted. What's the future for Verkada?

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IPVM’s growth is strangely similar :)

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These clueless posters, don't they know the Internet is forever?

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Moral of the story: John Honovich is the plague. If he asks any questions whatsoever, not only should you not speak to him, but you should also decontaminate the area. I hope the recruiter followed the entire protocol, which includes destroying the computer and quarantining the office also. You can't ever be too sure.

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