Milestone Execs on Financials, China and Future

By: John Honovich, Published on Apr 29, 2019

Milestone has released a 44-page annual report for 2018, an atypical and unrequired move for a subsidiary of a large company, however, Milestone emphasized their aim to be transparent as a 'stand-alone' company within Canon.

milestone execs on financials china and the future

Milestone's CEO Lars Thinggaard [link no longer available] and CFO Lars Larsen [link no longer available] also spoke to IPVM not only about their financials but about business (or the lack thereof) in China and the future of conventional and cloud VMSes. In this note, we examine:

  • Milestone's growth rate compared to previous years and to the market as a whole
  • Their R&D expansion plans
  • The future of AI / video processing within XProtect
  • Why they have 'no direct presence' in China
  • Why Xinjiang concentration camps would be a 'clear no' for Milestone
  • How they operate as a 'standalone company' inside Canon
  • Why they expect future single digit VMS growth rates to be single digits
  • How they expect to grow Arcules alongside Milestone

********* *** ******** ***-**** ****** ****** *** 2018, ** ******** *** unrequired **** *** * subsidiary ** * ***** company, *******, ********* ********** their *** ** ** transparent ** * '*****-*****' company ****** *****.

milestone execs on financials china and the future

*********'* *** **** ********** [**** no ****** *********] *** CFO **** ****** [**** no ****** *********] **** spoke ** **** *** only ***** ***** ********** but ***** ******** (** the **** *******) ** China *** *** ****** of ************ *** ***** VMSes. ** **** ****, we *******:

  • *********'* ****** **** ******** to ******** ***** *** to *** ****** ** a *****
  • ***** *&* ********* *****
  • *** ****** ** ** / ***** ********** ****** XProtect
  • *** **** **** '** direct ********' ** *****
  • *** ******** ************* ***** would ** * '***** no' *** *********
  • *** **** ******* ** a '********** *******' ****** Canon
  • *** **** ****** ****** single ***** *** ****** rates ** ** ****** digits
  • *** **** ****** ** grow ******* ********* *********

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

Growth **** *****

*********'* ******* **** **% in **** ** ******** currency *****, * ******** from ****'* **%+ ****** rate. ****: *** ****** report ***** *% ******** in '*** *******' *** Milestone **** **** *** impacted ** ******* ******** rates.

****** ***, ****** ** a * - **% range ** ****** ******. Milestone **** **** **** believe *** ******* ****** for *** ******** (**-*****) is ****** ******, ***** we ***** ** *******. VMS ******** ** ** longer * ***** ****** market, **** *** ********** of ** ******* *** the ********* ** ***** as ** ************ ****** alternative (***, *.*.,*** ****** *** *** VSaaS ****** ****** **** - *****.***, *******, ***** Eye, *******, *******, *******, More).

** *** ***** ****, Milestone *** *** * breakthrough ******* ** ******* in **** ****, ***** we **** ***** ** impacting ***** ******.

R&D ********* *****

********* **** *** **** plan ** ************* ******** R&D ********, ******:

*** ******* **** ******* to ********** ********** ** increasing *** *********** ******** by ** *** **** by *** *** ** 2019.

*******, *********'* **** ****** report ***** *&* ******** was *********** **** **** over ****. ********* **** that ** ********* ******* of *** ****-***/************* ** Arcules *** ********* ******* they **** ** ************* increase *&* ***** ** 2019.

AI / ***** **********

*** **** *********** *&* project **** **** ********* and *** ******* ** is *** ** ***** processing, ** ************* ** **** **** post:

** **** ** ******* a ***** ** *** art ***** ********** ******* – * ******** *** efficient ******** *********** ********** of ***** ******* ** you ** ******** ******** can ***** ** ******** innovative ********* ********* ********-********* video **********.

*******, ** *** ** public ******* **** *** so ** ** ******* when ** **** ** into ********** ** *** much ** ** ****** it **** ****.

***********

*** ***** ******* *** project ********* **** ********* has ********** ** ***'***********' (***** ******* ** for ****). *********** / ******** ***** ** ******** and ******* ******** ***** camera *** *****, **** or ** ********* **** achieve **** ** ***** side ** *******. ** could ** **** * notable ******* ****** *** differentiator ** ********* ***. 

China '** ****** ********'

*** *** ***** ****, Milestone ******** ***** *** their ***** ** ******. The **** ********* ******* was *** ***** **** is *** *********, ** their ******* ***** *****:

**********, *** *********'* ******* to ** ** *** in **** ** ********** since *** *** (*****) is *** *****'* ******* surveillance ****** *********** **% of ****** *****.

********* ********* **** **** have '** ****** ******** in *****' *** **** their ******** ** ******* 'very **** *****' ******* to ******** *** ***** re-sell *****.

*** *** ******** ********* noted *** **** ****** of ***** ****: (*) Intellectual ******** ********** *** (2) *** ********** ** teaming ** **** ***** partners *** *********** *** local ********.

Clear ** ** ********

*********'* ***** **** * 'clear **' **** ***** if **** ***** *********** in ************ ******** *** Xinjiang ************* *****. *** Xinjiang ***** ****** ***** crisis *** ***** ** lawmakers ** **** *** US *** ** **** called *** ****** ******* companies **** ***** *** Hikvision ********* **** ****.

********* *** ***** * particularly ********** ***** ******* abuse ** ********** ** this *************** ***** ** *** 'Copenhagen ******' ** ***** EULA, ***** ******* ************* *** unethical **** ** **********, most *******:

** **** *** ******** design *** *********, *********, or *******. ** **** design ***** **** ** would **** *** ***** ones ** ***.

***** ********* *** ************* in ***** ** ********* commendable, **** * ********* standpoint, **** *** ** a *********** ************.

Canon '**********'

**** ****, ** **** be * ***** ********** ******** *********. ***** ** *** many ** *** ******** were ********* ***** ********* remaining ***********, ********** **** Canon ********* ****, **** still *** ***** *** independently.

********* **** ** *** same ***** ******** * ****** ******** magazine **** *****:

*** ***** **** *** to **** * ****** of ******* ** *** new ******: ** *** not **** ** ** a *********** ***** *** the ****** *******, *** astand-alone ******* with its own governance structure. In fact, this meant that we built a Chinese **** around our company, where the parent ******* **** *** **** ****** ** *** *********, **** *** **** ****** ** *** ******** ********, ****** ******* *** ** ** *** ***** ****, and continue ** **** **** *********** to the parent company. Canon accepted this and continues to do so. [emphasis added]

*********, **** *** ******** are ****** ********* *** promoted ** ********* **** their ********** ***********, ******, both ********* *** *** largest ******* ********* ** their ********** **********. ******, even ****** ***** ******** both ** ****, ********* gave *** ******* ** both.

***** ***** *** * self-proclaimed ***-**** ****, ** still ***** ** ** possible **** *****, ** some ***** ** *** future, ****** *** ******* video ********* ********.

Slow *** ****** ******

********* ****, ******* *******, that *** ******** ****** would ** ** *** single ******, ***** ** agree. ****** **** *** and *** *** ******** for **** ***** ** come *** *** **** drivers *** ******** **** subsided *** *** *** driver (*****) **** ************ cut **** ***, ** some *****, ***** *** VMS ******** **** ** fall.

Arcules *** ********* ******

********* ** ********* ** its ****** ******** **** of ******* ***** *** software ******** (********* / XProtect) ********** **** ***** cloud *** ******** (*******), see: ********* ******** ********* **** Arcules.

********* ********* ******* ** 'an ********** *******' *** that **** ***** *** consolidate ******* ********** **** Milestone's. ** *** ***** hand, *********'* *** **** Thinggaard [**** ** ****** available] ** ************** ******** of *******, ** ******** management ******* **********.

**** *********'* ********* ***********, selling ***** *** ********** will ********* ****** *********'* potential ******, ** ********** to *********** **** ********, Genetec *** **** / Exacq *** *** *** running ***** ***** ********* inside ***** ******** **********.

**********, ** **** ** interesting ** *** ** Milestone *** ** ****** grow ****** *** ******** overall ** ****** ***** VMS ******** *** ********** from ***** / *****'* cloud *** ***.

Comments (3)

Avatar

Morten Tor Nielsen

prescienta.com | 04/29/19 07:53pm

*** ***** ***** *******? The ******* **** *** impressive, *** *** ***** about ******* ****** **** it *** ****-*********

*** ******* ********* ************** ***** ****** ************* **** ***** ************** ***** ***** *** as * ********** ******** *** ********************.

* **** ***** ******* up *** **** ********* paid ** ****** *****, but **'* ***** ** a ********** ** ***** Danmark */*, *** **** just **.* *** *** in ***** *** **** (and **** *** *** in ****). *** *'* no ********** *** * quickly **** ** ****** any ***** ** *** of ****. **'* * whole ***** ******, ****'* for ****. **** *** them.

***'** **** **** *********** nuggets **** **** ***:

***** ******** ***** *** confronted******* *** ********* **** to********* *** ******* ******** and** *** ********** ** investments** ******** ** ********** our *********.

*****.. **** ** **** clear ** ***...

* ***'* ******* ***** is * ****** ** Milestone. ** ****** ** the *-***** ***** *** down *** *** ** link * ******* *** event ** * *** preset ** * ******, you'd ******** ******** - like ** - **** the ****** ** *** "cloud", *** *** ******* and ******* ** ******* meaningful ******* ** ** aging, ********** *** ************ complex ********. **** **** a **** ******* *** Milestone ************* ******** ** get * ***** ** the ********* ***** ** there. **'** ******* ******* XML ****** *** ****** a *** ** * DB.

**'* **** *** ** to ****** **** ***** of ********** ********. **'* a *** ** ********** it *****, **** ** here, * ***** ***** IoT ** * ******* there, *** ** *** meantime *** *** ***** just **** **** ** Verkadas *****, ***** ***********.

 

 

John Honovich

IPVM | In reply to Morten Tor Nielsen | 04/29/19 09:18pm

** *** ******** *** end ***** **** **** some ** ******** *****, sweet ***********.

****'* *** ***** * asked * ****** ** VMSes, ********* *********, *.*., when *** **** ***** to ***** ****** ***** access ******** *** ***** VMS ********. * *** not *** * ***** answer **** ********* ****** Exacq **** ** **** be ******** ** ****.

* ***** **** *** convenience ****** ** ****** access ******* **** ** (gulp) **** ********** ** valued ** *** *****.

Undisclosed #1

In reply to Morten Tor Nielsen | 04/30/19 12:14pm

** ******** **** ****/************ AND *** ***** *** threats ** *********'* ******. 

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

The Battle For the VSaaS Market 2020 - Avigilon, Arcules, Eagle Eye, OpenEye, Qumulex, Tyco, Verkada on Jan 13, 2020
While VSaaS suffered from inflated expectations in the 2010s, 2020 marks a new decade and a much stronger competitive position for VSaaS vs...
Acquisitions - Winners and Losers on Dec 10, 2019
Most major manufacturers have been acquired over the last decade. But which have been good deals or not? In this report, we analyze the...
Milestone Has Problems on Oct 01, 2019
Milestone has problems. While the company previously excelled in the shift to IP cameras, as IP has matured and competitive differentiation has...
Giant Tyco Campaigns Against Startup Qumulex on Jul 25, 2019
One is a giant conglomerate that owns the world's largest security integrator. The other has no shipping products. But Tyco is campaigning...
Avigilon President Henderson Is Out on Jul 09, 2019
Avigilon's President and COO James Henderson is out, abruptly, after a remarkable ascension over the past 8 years, Motorola VP Jack Molloy has...
2019 Mid-Year Video Surveillance Guide on Jul 01, 2019
IPVM's new 400+ page Mid-Year Industry Guide brings all of these issues and events together in a single resource to read and review. It can be...
Genetec Beats Milestone For IHS #1 on Jun 21, 2019
For years, Milestone has touted that they are the #1 VMS. Now, Genetec has beaten them in IHS rankings. But what is this? Even other manufacturers...
Milestone Alleges [Now Removed], Qognify Denies VMS "Running Out Of Support" on May 01, 2019
Milestone is running a marketing campaign where they allege that OnSSI and Seetec VMSes are 'running out of support'. However, Qognify's CEO flatly...
Verkada Gets Half Billion Dollar Valuation on Apr 26, 2019
Last week, when we profiled Verkada (The Fastest Growing Video Surveillance Sales Organization Ever - Verkada), we predicted they would raise $40...
The Fastest Growing Video Surveillance Sales Organization Ever - Verkada on Apr 17, 2019
Verkada has the fastest growing video surveillance sales organization ever. In less than 2 years, they already have more salespeople in the US...

Most Recent Industry Reports

Dahua Faked Coronavirus Camera Marketing on Apr 01, 2020
Dahua has conducted a coronavirus camera global marketing campaign centered around a faked detection. Now, Dahua has expanded this to the USA,...
Video Surveillance Trends 101 on Apr 01, 2020
This report examines major industry factors and how they could impact video surveillance in the next 5 - 10 years. This is part of our Video...
USA's Seek Scan Thermal Temperature System Examined on Apr 01, 2020
This US company, Seek, located down the road from FLIR and founded by former FLIR employees is offering a thermal temperature system for the...
Terrible Convergint Coronavirus Thermal Camera Recommendation on Apr 01, 2020
A week after Convergint disclosed falling revenue, pay and job cuts, Convergint is touting 'extensive research' that is either grossly incompetent...
The IPVM New Products Online Show April 2020 Opens With 40+ Manufacturers on Mar 31, 2020
IPVM is excited to announce the first New Products Online show, with 40+ manufacturers, to be held April 14 to the 16th, free to IPVM members,...
USA's Feevr Thermal Temperature System Examined on Mar 31, 2020
This US company has burst on to the scene, brashly naming itself 'feevr' and branding itself as a "COVID 19 - AI BASED NON CONTACT THERMAL...
JCI Coronavirus Cuts on Mar 31, 2020
JCI has made coronavirus cuts, the company told employees in an email that IPVM has reviewed. Inside this note, we examine the cuts made, the...
Add Door Operators To Fight Coronavirus on Mar 31, 2020
IPVM recommends that integrators advocate and end-users consider adding door operators to fight the spread of coronavirus. This delivers...
Video Surveillance Business 101 on Mar 30, 2020
This report explains the fundamental elements of the video surveillance business for those new to the industry. This is part of our Video...
FDA Gives Guidance on 'Coronavirus' Thermal Fever Detection Systems on Mar 30, 2020
The US FDA has given IPVM guidance on the use of thermal fever detection systems being marketed for coronavirus, as an explosion of such devices...