FLIR Security Revenue Reviewed

Author: Brian Karas, Published on Oct 31, 2016

With acquisitions of Lorex, DVTel and ISD, adding to their core thermal offerings, FLIR has been building up its presence in the security / video surveillance market.

In this report, we examine FLIR's security revenue, their financial trends over the last 3 years and challenges they are facing.

**** ************ *******,***********, ****** ** ***** **** ******* *********, **** *** **** building ** *** ******** ** *** ******** / ***** ************ market.

** **** ******, ** ******* ****'* ******** *******, ***** ********* trends **** *** **** * ***** *** ********** **** *** facing.

[***************]

Financial ********

****'* ******** ***** ** ** **** *** $*** ******* ******* in ****, **** ******** ***** ************ *******, *** / **** and ******** *******.

******** ** ****, ******* ** *********** ****. **** ************, ** Q3 ****, **** **** ****, ******* ** **** *%.

******* **** ************* ** ****, ** ~**% **** $*** ******* in ****. ********, ******* **** ******* ** ****, ** ~**% from $*** ******* ** ****.

**** ******* ********* ******** ******* ** * ***** ** ****, the **** ***** **** ******** *****, *** *** ********** **** ~$75 ******* ** ******* ******.

Revenue ********** ** *****

****’* **** ******** ******* ** $*** ******* ****** **** ***** most ******** ********* *** ***** *** ******* ******, **** ********** to ******* *******:

  • **** ~$***
  • ******* ~****
  • **** ~$****
  • ******** ~$****
  • *****
  • **** ~$****
  • ********* ~$*****

Security ** ***** ******** ** ****

******** ** *** *** ******* ******** ******* *** ****, ************ 15% ** ***** *******.

*** ***** *****, ********* **** ********* ****** ****************** *** ********:

****, **** *** * "************' *****, ***** ** ***** ********/********** division, ***** ***** ******* ******* *** ***** ****-*** ******* ******** separate **** *** ******** ********.

DvTel *********** ***** ******* ******* *******

******* **** ******, ********* *** ****** ***** ***********, ** ******** down ************* *** ****. **** ******** ***** ** ******** ****, meaning **** ** **** *** ** ***** *******, ***** ** 2016 ***. ***** ** ********* ************ ** **** ******* ** 2016. ** ******** ~$* ******* *** *******. ********* **** **, Q3 ****************** *** ****'* ******** ***** ** **** **-**%.

FLIR ******** ** ******* **** ** ******

**** ** ****'* ******** ** **** **** ** ***** ******** has **** **** *** ******* ****-*** *** ***-*** ** *** market. ** *** ****-*** **** ***** ******* ******* *** ****** compared ** ******* *******, *** ***-***** ******** ** ******* ******* have ******* ************* *** ******* ** **** ******. ** *** low-end, **** **** **** *****, ********* **** ****** ***** ************ sales, *** * ****** ** ***** ********* ** * *****-****** segment.

Still *********

******* ***** ******* ** ******, **** ** ***** ********* ** their ******** ********,********* ********** **** **** ** **** **** ***** *** ***** ****** offerings *** ****** ************. ** **** ****** **** **** **** before **** ********** **** *** ** *** **** ** ******* growth ******.

Outlook *** ****

*** ***-*** ****** ******* **** ***********, ******* **** ** ******* in *** *** ** ****-*** ******* *** ***** ******* ******. With *** ***** ***, **** **** ** *********** ** ******* against ******** *** *********** ******* *** ** ***-**-*** ********, *** will **** ** ********* ******* ********* ** **** ******* ** that ******* ********* ** *** *** ******* ***** ****** ***********. FLIR's ******** ******** *** *** ******* ** ***** **** ** a **** ****** ************, ****** **** * ****** ****** ** riding *** * ******** ** ***** ****** ***** **** ***** all ** ***** ************ ******** **** * ************* *********.

UPDATE: **** ******* $****

****'* ******** ******** *** * ********** ****** ** ** ****, with*% ****** **** ** **** *** $**.** ***** *******. ***** ******* ** ******** *** $**** *** ****, ****** 6% ****** **** ****. ***** **** ****** ** **** ******** than ******** *****, ** ** ********** ***** **** **** *** a ****** ** ***-**** ******** ** ***** ***** *** ********* lines **** ******* ******** **** ********* *** *****, ***** **** to *** ****** ***** **** **** **** *** ***-**** ****** segment *********** *** **** ***********.

Comments (6)

Thanks, Brian!

What division do you think they will put the Point Grey acquisition? It could certainly continue to mask the drop in organic security revenue were its (or even a small portion of it) revenue to added in to security. Or maybe they are starting a new division for Industrial Imaging?

We actually covered that in the Point Grey acquisition report you linked to:

Point Grey will fall within FLIR's OEM & Emerging Markets division, expanding FLIR's ability to provide optical imaging solutions to their industrial customers.

If the ~$100M revenue estimate for Point Grey is not too far off, that could make the OEM & Emerging markets division overtake Security for the #3 spot, unless Security posts a large revenue spike (which seems unlikely for 2016).

missed it, thanks!

The "Outlook" section reframes the big picture in a way I hadn't considered - not because it was obscured or anything, I'm just not used to those brands working together in such a way. If they can consolidate everything into one well-oiled machine instead of a handful of unrelated surveillance brands, it'd be very impressive.

They really need to get better at marketing the VMS for this to work though. Not just raising awareness - I mean they have to provide a compelling reason for buyers to take a demo.

UPDATE - FLIR released results for Q4 2016, the Security division ended up with almost 6% growth YoY, with $240M in revenue.

FLIR is also recruiting a new CEO, with current CEO Andy Teich retiring after 33 years with the company.

Teich came to FLIR via a previous acquisition and has been a strong proponent of thermal cameras and technology. It will be interesting to see what a new CEO does with FLIR's diverse portfolio.

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports

Struggling ASCMA / Brinks Home Security Gets Stock Delisting Warning on Jan 08, 2019
Struggling Ascent Capital Group (NASDAQ: ASCMA) has disclosed a warning from NASDAQ that ASCMA faced delisting unless they reverse their downward...
IPVM Best New Products 2019 Opened - 70+ Entrants on Jan 07, 2019
The inaugural IPVM Best New Product Awards has been opened - the industry's first and only program where the awards are not pay-to-play and the...
Imperial Capital Security Investor Conference 2018 Review - ADT, Resideo, Alarm.com, Arlo, Eagle Eye, ACRE, More on Dec 14, 2018
Imperial Capital Security Investor Conference is an event matching industry executives with financiers that frequently leads to future funding...
FLIR Launches Body Cameras Unified With VMS (TruWitness) on Dec 11, 2018
While FLIR is best known for their thermal cameras, now they have expanded into body cameras, launching TruWITNESS, a public safety focused body...
The 2019 Video Surveillance Industry Guide on Dec 10, 2018
The 300 page, 2019 Video Surveillance Industry Guide, covers the key events and the future of the video surveillance market, is now available,...
Resideo IPOs, Then Plunges on Oct 31, 2018
ADI and Honeywell Homes management have been touting their spinout and IPO for months, including appearing on Wall Street as they widely shared on...
Axis Strong US Growth, Flat EMEA - Q3 2018 Financials on Oct 18, 2018
This spring, Axis had its best financials in many years (see Axis Strong Q2 2018 Results). However, over the summer, Axis had many products sold...
Knightscope Winning Investors, Struggling With Growth on Oct 16, 2018
While Knightscope's new financials show the company only winning 11 new customers in the past 12 months, the company continues to win new...
ADI's Financials Revealed + W-Box Growth Priority on Oct 15, 2018
  ADI is one of the most powerful distributors in the security industry but how big are they? How much profit do they make? How much do they sell...
Ascent / MONI Faces Lender Lawsuit and Debt Crisis on Sep 13, 2018
ASCMA, aka Ascent, aka Brinks Home Security, aka MONI, aka Monitronics is being sued by a group of their lenders who allege: As of June 30,...

Most Recent Industry Reports

Access Control Cabling Tutorial on Jan 15, 2019
Access Control is only as reliable as its cables. While this aspect lacks the sexiness of other components, it remains a vital part of every...
Gorilla Technology AI Provider, Raises $15 Million, Profiled on Jan 15, 2019
Gorilla Technology is a Taiwanese video analytics manufacturer that recently announced a $15 million investment from SBI Group, saying this...
2019 IP Networking Book Released on Jan 14, 2019
The new IP Networking Book 2019 is a 285 page in-depth guide that teaches you how IT and telecom technologies impact modern security...
Arecont Costar Layoffs on Jan 14, 2019
Arecont Vision, a Costar Company, has laid off more than 10% of their workforce in a move the company described to IPVM as a result of "important...
The False SCMP Story on Hikvision NYC AI on Jan 14, 2019
In the past week, one of Asia's largest publications, the South China Morning Post (SCMP), posted an article about "Chinese [facial recognition]...
WDR Tutorial on Jan 11, 2019
Understanding wide dynamic range (WDR) is critical to capturing high quality images in demanding conditions. However, with no real standards, any...
Pelco Favorability Results 2019 on Jan 11, 2019
Pelco had a significant favorability problem amongst integrators in our previous study (see 2016 Pelco results). Now, in the first edition of our...
Bad: Dahua Villa Video Doorbell Tested on Jan 11, 2019
Doorbells are one of the hottest segments in the residential market but Dahua's Villa Video Doorbell is the worst we have tested.   We bought and...
Last Chance - Winter 2019 IP Networking Course on Jan 10, 2019
Today is the last day to register for the Winter 2019 IP Networking course. This is the only networking course designed specifically for video...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact