Axis Growth Rebounds Q3 2013

JH
John Honovich
•Published Oct 17, 2013 04:00 AM

Axis had its best quarter in more than a year, rebounding from recent slow growth, to its old high growth pace. In this note, we examine what drove it and whether they can sustain it.

Financials Overview

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Comments (2)
UM
Undisclosed Manufacturer #1
•Oct 18, 2013

Is there a 10-K 'like' report that will reflect there managed serwices revenue? Or revenue contributing to there Vsaas?

JH
John Honovich
•Oct 18, 2013
IPVM
In reply to Undisclosed Manufacturer #1

I am pretty sure they make more money selling camera mounts than VSaaS...

Leaving that aside, Axis' financials only breaks into 2 categories - video and 'other' (old printer server, etc.). Here's what that looks like:

They never break out video in the report, but they do sometimes talk about particular segments in the analyst call (like encoders or domes).

However, I cannot recall any major mention or focus on VSaaS on those calls in quite some time. Unless it suddenly starts taking off, I would suspect them to continue to ignore it in their financials, even anecdotally, as they are meant to excite investors, not depress them.