Mobotix Growth Stalls Again

By John Honovich, Published Nov 21, 2012, 07:00pm EST (Info+)

For the second quarter in the last year, Mobotix's growth has gone flat. Worse, the company missed badly on its own revenue goals set at the beginning of their fiscal year. However, the company remains irrationally bullish, especially with its continued expansion into the home automation market. Inside this note, we dig into the financial details and competitive positioning.

Key Metrics

**** ********* ****** ******:

  • ******* ****** *** *** **** *** 11.5% **** **** ****
  • *******, ***** **** ***** **** ****** with ** **** ****** ~*% **** over ****
  • *** **** *** **** *********** ***** January **** ******** ** ******** ** grow ** ** **% **** ****

******* ****** ** ** ******** ******** conditions:

"[******* ******] *** ************ ******** ** the **** ****** ** ******. *** slow ************* ****** **** *** **** seen **** *** **** *** ******** in ****** *** ******** ********* *** now ***********, *** * ********* ************ trend ******* **** ******** ** *** short ** ****** *****."

****** ****** ************* **************. ******* *** down *.*% ** ******, ********* *******. However, ** ******* *** *** ** revenue ****** *** **** ** ~**%. German ****** *** ********** *** ***** recent ****. *******, ** ****** **** continued ** *******.

Mobotix *** ************

**** ********** ** *** ***** **** for *******. ******** ** *** *** video **** ******* [**** ** ****** available], ******* *********** ***** ******** ********:display

  • ********* *** ********** ** *** ***'* at *** **** *** *** **** in (********** ** ** ** ******)
  • ******** ******
  • ******/**** *** **** "******** ************* **** ******* ***** *** doorbell, ******* ***-*** ************* **** ******** and *** ******** **** *** ****. It ** **** ******** ** ******** voice ******* ********, **** ****** *** recordings **** *** ********** **** ******** and *******."

*** **** **** ** **** **** are ******* *** ***** **** ********** offering. *** *** ** **** ** is ** ****** *** ** ***** core ****** ** ************ ************ *****.

*******'* **** ******* **** **** *** the***, * **** *** ***** ******* that ************* **** ******* **** ****** later **** ********.

Competitive **********

*******'* *********** *********** ********* ** ***********. Outside ** * ******* ****** ** strategy, ***** **** **** ** **** home ********** ******* * **** ********. With ********* ******* ******* ** *** core ******** ****** *** ********** ********* ***** ****** ******** ********* (**** H.264 *** *****), ******* ** ************ isolated *** ************ **** *** **** of *** ********.

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