HID CEO Speaks About 2023 Progress
As 2023 comes to an end, HID's CEO reflected on the company's activities over the past 12 months.
In this note, we outline four main developments of 2023 presented by HID, and provide more context on them based on our reporting on their financials, marketing, and technology.
Executive *******
** * ******* *****,*** **ö** **************** **** **** ****** **** **** year, ********* (** *** **** ***** as *** ********* ** ***):
- "**********" ****** *****
- "*****" *********** ** ******** *******
- ****** *** ************
- *********** ** ****** ****** *******
********* ***** ****** **********, *** ******** ***** ************ ** lead ***** **** ****, *** *** feedback ** ***'* ******* *** ******** service *** *****, **** **** ********** by *** *******'* ********.
** *** *********** ****, *** *** HID ************ ** **** (* ****** **** ******** ************** ******** **** ***/****** ******** *** healthcare) **** ******** ** ************** ** the *******'* ********. ******, ** ****** credentials *** *******, ** ** ******** that *** **** ******** *** *********** in **** ****.
*******, ** ***'* ************ **** ** 2023 *** *** **********, ******** (********* ** * ****-** ****), ** *******, ******** **** ***** and ******** ******* *** ********, ** well ** ******** ****** *********, ** important *** *** ** ****** *** majority ** *** ** ******.
HID's ******* ** *** ********
*** ****** ******** ****, *** ******* ****** * *.*-****** video ** *** **ö** ******** ********** HID's ********, ********** *** *******'* ****, and ******* ***** ********:
"Normalized" ****** *****
** *** **** *** *****, *** became ********* *** *** **** *****. However, *** *** **** *** ****** chain ** "**********," *** *** ******* has ******** ** "******** **** *****," as ******** ******:
*** **** *** ******** ** ****** us, *'* ***** ** *** ****our ****** ***** *** **********, we've been able to work through our order backlog, and we **** ******** ** ******** **** *****. [emphasis added]
*** ************ ******* **** *** **** ***** are ********* ** ****** ****, *** *****, ********* ***** ****** ******, **** ***** ******** ***** *** lead *****, ***** ** ******** ********.
*** *******, *****'* *** **** ** * ****** industry *****, *** ********* **** ****** ** two **** *******: (*) *** ******* operated **** ****-**-**** *********, *** (*) HID *** *** *** ****** ** demand *** ***** ** ******, *** not ***** ****** **** ** *** purchase **** **** *** ********* ******.
***** ********* **** *** *******, ** during*** ** **** ****, **** ***** **** **** *** losses *** *** ******* **** ~$** million (***** ** $***+ **********).
** ** **** ** ** *** global ********, ******** **** ****** ************, also ****, * **** ***** ** the ****, **** ** ******* ***** of **** **%, **** **** ****** sales ****** *** ****** *********. *** we ****good ***** ****** **** *** *** ******** ***** ** *** **** *** ********* ** ****, Physical Access Control, where we suffer with shortages of electronic components and where we estimate the negative ****** ** *** **** ** ** ** *** ******* ****** ****** *******. For total group, we believe top line negative effect of component shortage – electronic component shortages is around SEK400 million. [emphasis added]
*********, ******, *** ****** ***** ** not ** *****, *** *** ******* is ******* *****.
*** **** ********** ** ****** ***** issues **** ***, *** *** ******** reports:
- *** ********* **** **** *********
- *** **** ******* ********* *********
- *** *** ****** ** ******* ******* Shortages ******
Investments ** ******** *******
*** ****** **** ****** ******** *********** is *** "******** ******* ** [******** service], ********* ****** ******** **** *******":
** **** **** ******** ********, *** focus *** *******,it's ******* ** ***** **** ** **** ******* ** ***, ************ *** ******** *******. This year, we **** ******** ******* ** **** ****, ********* ****** ******** **** ******* to help answer your questions, and faster answer your questions, and become easier overall to do business with. Customer centricity, after all, is at the core mission of HID, and we will continue to listen to your feedback and improve our performance in this area. [emphasis added]
** ******* ********** ** ***, *** ******** ** ******** ******* was *****, ** *** ******* ***** shows:
"I **** *** ***** *********** **** *** *************** ** *** ****** **** ** ***** ** **************. I have asked many specific questions only to hear vague answers, then I learn that detailed information was available but it didn't fit the brand message at the time."
"Support **** ** ** *********. ** *** **** *** *****, ******* *** **** ********** ****. Product availability has also been terrible."
"Their **** **** ******* ** *******, ********* **** ***** **. They drop the ball too and leave dealers hanging. Lead times are a joke."
"*** ******* ****can ** **** **** *** ** ************ depending on which department you need"
"***** ******* *** *****pre-sales ******* *** ******* considering how big they are. Their support line breaks down to the product you need help on and normally you get a person on the phone very quickly."
"**** *****-** *** *** **** ******* availability.I ***** **** ***** ******** *** *******."
"Good *********** *** *******." [all emphasis added]
***** *** ******* ****** ** **** hired **** ********* ** ******** *******, LinkedIn **** ***** **** * ******** increase (**** **** **** ** *%) in ******* *** ***** ****** *** past ** ******:
** *** ***** ****, *** *** openings **** **** * *********** ********, which *** **** **** *** *******, indeed, ***** **** *********. *******, **** can **** ******** ************ ****** *** and ***** ******** *** ** **** more ******.
Growth *** ************
******** *********** **** ** *** ******* is ******* ** **** ** * way **** ** "**********" ** ***'* partners, **** ******** ******* ********* **** "complement *** ******* [***'*] ******** *********," allowing ***** ******** ** "***** **** tailored *** ******* ********* *** ********":
**** **** *** *******,we *** ******* ** ******, *** **** [**] ****** **** ** ********** ** *** ** ********. This growth comes both organically but also through acquisitions. And we've **** ****** ********* **** **** ** ******* ******* *** ********* **** *** *** ****** that complement *** ******* *** ******** ********* so **** *** *** ***** **** ******** *** ******* ********* *** ******** to your customers. [emphasis added]
** ****, *** ******** *** *********, including * ****** **** ******** **********,******,*** * ******** ******** ** **** technology (****, *******, ********, ***.) ******** for **********,*********.
**** ******** **'* ******** **** ****** of ***** ************ **** ** ************** to ***'* ********, ** **** ***** companies *** ************* ******* **** *** and *** ***** ***********. *** *******, in ****, ****** *** ********* **** less **** $*** ******* (********* **** ~$117 *** ~$* *******, ************, ********* to**** *****'* ** **** **********). ********-****, **** ********* *** ************* smaller **** ***, ** *** ******* below *****:
***** *** *** *** ******** *** size ** *** **** *** ********* (neither *** **** ***** ** ***** latest ********* *******), **.*% ** ******' shares**** ******** *** €***.* *******(~$*** *******). ***** ** ********* **** and *****, ** ******* *** **** size *** ********** *** ***, ** it ** * *****-******* ***********.
Investments ** ******
******, ** *** *****, *** ********** investments ** ****** *** *** ******** of "******* *******," ** *** ******* "firmly *******[*] **** *** ****** ** our ******** ** **** *******":
We've **** ******** ** *** ****** ********* ** ** ****** ******* **** *** ****** ** *** ******** ** **** *******, with the center of this future living within the mobile devices that we use every day. **** ** *** **'** ***** ******* ******* *** *** ****** ****, ** **** ******** *** *** ********** ******* *******, *** **'* **** ** ******* *** ******* **** *** *****-***** platforms. [emphasis added]
****** *********** *** *******, *** *** HID ** ****** *********** ** *** market, *********** ** ****** *** ********.
***** ******** *** *** ********* ** who ***** ***** ***** "*******" ***, a ********* ******** *** ****** *********** is**** *******, *** *** ***** ** *** in ******** ****, ********* ** *** LinkedIn:
******* ** ***** ***** ***** *** advantages ** ****** ***********, **** ***** at *** ******* ** ***'* ******** credentials. **** ** ** ******** ********, as ****-************ *** ********* ******** ***** criticizing ******** **** ****** * *********** amount ** ******* *** *** *******.
******* ******* ****** ** *** ****** side ** *** *******'* *** ******** of ********* ********* ** ******,***** ******, *** *** **** *** ******* of ********** ** **** *** ** CSA (** ******** ****** ****** - see*** ****** ****** ** *** ********), ********* ** *** ********:
Concerns **** ***'* ****** ********
******** ****** ****** ****** ******* ************* *** ***** ** ******** *********, few *********** ********* *********** **** ***'* mobile ********, ** **** ****:
"** *** ******** (********-****) ****** *********** because **** **** ********* ****, *** very **** ** ****** *** ******, and **** *** ****** ******** ** to *** *********** ** ** ********** cost.HIDs ****** *********** ************ ** ********* *******. ** ** **********, *********, *********, *** *** *********** ** *** **** ****." [emphasis added]
"The *** ****** *********** [**********] ** *** ****** ** ***** **********, *******, *** **** ******* ***. The HID NFC does work well on Android phones. We just see cards being the go-to because they are fast, cheap, and also serve as identification for employees as well." [emphasis added]
************, ** ****** ************* ************** ****, **** *** ******** ******** on *** *******'* ****** *********:
"*** *********** ** *** *** ****** access ** *** **** *** *** access ******* ********, ** **** **** customer *** ** ****** * ******** of ***** *** ******it ** ***********." [emphasis added]
"***** ****** *********** **** * ********* when * ***** ** *********, ***** like **** **** ****** **** **** hurdle ****** ***."
"Mobile *********** *** * ****; they charge a monthly fee for the privilege. Readers are fine when you can get them. HID aero boards have been meh with Alarm.com, more expensive than the Mercury and we've had OOTB failures (so has Mercury as well)" [emphasis added]
** ******* ** ** **** ** these *** ******** ** ******* ********* across ***'* ********, *** **********, *** is ******** ** **** ** *** mobile ******** ** *** ******* ******** grows.
HID **. ********
*** *** *** ******* ** *** video ************* ********** **** ************* * **** ********** ******** ** which******** ****** **** **** *** *** lawsuit ******* ***.
***** *** *** * **** ***** record ** ***** ******* ********* *************** *** ********, **** ********** ***** **** *** can ***** ** ** ***, ***** can ****** *** *********** ******* ** the ******.
*** ************ *** * ****-** **** ******* them **, ***'* ********** *** ******** *** can ******** *** *********** *** ***.
*** **** ********** ** *** *** WaveLynx **********, *** *** ******** *******:
- *** **** ********
- *** ******* ******* ******* ********, **** OSDP **********
- *** ********* *****, ******* ********
- *** ****** *****, **** *** ****** Infringement ********** ******* ********
- *** ******* ******** ********** **** ********
HID's ********** ** **** *****
*****'* ************* ****, ******** ** *******, *** ****** is ********** **** ********. *** ******** years **** ** ******* *** **** for *** *** **** *** *** parent, **** *****, ** ** ******* depends ** *** *** *** *******. In *** ****** ********* ****,**** **** **** *** ** "**** important" ** *** *******'* *******:
**, ** *** ****, ** ****** Technologies, ****** **% ** ***, [***] around **% ** ****** *********. *** like * ********* *******,HID, *** **** ********, ** **** ********* **** * ****** *********** ** ****** *********. [emphasis added]