Motorola 2022 Results And 2023 Financial Outlook Examined
Motorola described 2022 as "an outstanding year across the board" but offered lower growth guidance for its video security business in 2023.
Inside this note, we examine Motorola's 2022 financials, its projections for 2023, more financial details on the recent Rave acquisition, ChatGPT, and more.
******** ******** ******* ** $*.* ******* in *** **** *************** *********, ***** ** * **% year-on-year ******. ***** ****, $*.* ******* is **** *** ***** ******** *** Access ******* ******, * **% ******** from **** **** *********** ** ** undisclosed ******* ** *&* (*.*., ******** acquired***,*******, *************** ****).
*** *** ** ****, ********'* ******* was $*.* *******, * **% ****** from ****, ***** ********* **** *** radio ********.
24% ******* ****** ** ***** ******** *** ****** *******
*** ***** ******** ******** **** ~$*** million **** **** **** *** ** now **** *** *.* *******:
*** ******* ********** *** **** ** acquisitions:
** **** ** *** ****** ****** rates ** ***** ********, **** ** 2022 ** ******, *** *** ******* growth **** *** ** **** ****** by ************.
***** ** ******* ***** ***** ****** growth (*.*., **% ** ***** ******** was **** ******** *** **** **** talked *****), ******** ********** ** ******** 15% ******* ****** ** ****:
*** ********* ** ****** ********. ** now **** ********* **** ** **-**** standpoint ** **** ** * ***** standpoint. *** *****, * ***** **%, I **** ***** **'* ********* ** take * **** ** ***** **'** getting **** -- ***** **'** ********** that ******. ********** *** ********* *** the *** ******* *********. *** ** think ****'** * ****** *** ********* in ***** ** ** ***** ** any **** ** ******** ********. *** the ***** ***** ** ** ** health **** *** *** ********** ****** space ** ****.
**** ***** **** *** ****** ****** in ******** ***** *** * ****** of ************:
** *** ********* ***** ************ *** they ** **** *** **** *** you **** ** *** ********** ******** of *** ****** **** ******* **** and **** *** **** ****, **'* much **** ********** ** * ****-****-**** basis.
* **% **** ****** **** ***** put ********'* ***** ******** ******** ** ~$1.725 ******* *** ****.
*** ******* ********** *** ******* ****** of *** **** ** ******** *******:
** ***** *** **** ** ********* conducive. *** ** ***** **'* -- within *** ***, **'* * ******** to *** ********. *** ** ***'* think **'* ***** ** **** *** real ******** ****** ********** ****.
Radio ********* *** ****
******** ** ****** ******* ** *** lower-radio ******** ** ********* ************* *** exit **** ******* ** ****:
*****, ** ******* ******** *** ****** chain, ** **** ***** *** ****** part ** ***, ***** ** **** to ***** ********** *** **** *********, to * ******** ***** **** * third-party ************. ** * ****** ** this ******, ** **** **** ********* revenues ***** ** *** ****** **** the *******.
** ********, ** ******* ** **** some *** ******* ** ****. ** expect ***** ******* ******** ** ********** an $** ******* ******** ** *** 2022 -- **** ********, ***** ** fully ************ ** *** ****-**** ******* guidance *** ****.
Higher-End ***** ******
***** ***** ******** ** * ****** growth ****** **** *****, *** ******* says **** ****** ***-******-***** ****** ** radio, **** ******-**** ******** **** ***** ****:
*** **** ** *** ******* ****-**** device, **** ********** ******* ****** *** has **** ***. ***** ********* *** clamoring *** ** ***** *** ******* functionality, *** *** *******, *** ****-***-*** software ********** **** ********** ** ********* their ********* *******.
*** **** **'** ****** *** ****, and **'** *********** *** *** **** mid-tier *******. ** *** ***** ***** more *******, *****'* **,*** *** ******** around *** *****. *** **** * subset ** **** **** ****** ***** American ******* *** *** *** *** have * ***** ****** ********* ******* high-end *** ** *** ****, **** APX **** ***-****. ** *** ***, we're ********** *** ***** ********* ** well, *** **'** ********* ** *** and ******* *** *** *********.
$500 ******* **** ***********
******** ********* ****** **** $*** ******* for ****, * ******* **** ******** says ** ********** ~$** ******* ****** recurring ******* *** ****** $* ******* addressable ****** *********. **** *** ********** of *** *********** ****:******** ******** **** ************ ******* **** Mobile ******.
**** ********* ***** ********* ****** *** acquisition ** *******:
**'* ** ***** ****'* ***** **** to ** **** ****** ****. ** when *** ***** ***** *** ******* deployed ******* *** ******** ** ** addressable ****** **** ******* $* ******* and *** ****** ********* ******* **** a *** **** ** $** *******. We **** ***** ********** *** ***** verticals. **% ** ***** ******** ** profiled ****** ***** *** ***** *** education, ***** **** *** ** ********** in *** ***** **** ** **** we ** *** *** ****** **** to ******.
**'** ******* ***** **** ******* ** allows ** ** ****** *** ***** channel ** ******* **** ****** ****** and *********. ** ***********, **** ************ gets *** ***** ** **** ******'* entire ***** ************, ******* *** ******* as ** ** ***** **** ***** accounts. *** **** ** **** ** why ** ******* **'** *** **** valuable ***** ** **** *****.
Motorola's ******* *&* ******
******** *** **** ****** ** ******* its ******** ******* *&*. ***** ********'* overall ***** ** $*.* ******* ** the ****** ******* ** ****, ******* from ************ *** $** *******. ****'* the *******'* ********* ** *** *&* history:
***** ****, **'** ******** ****** $* billion ** ********* ********* **** **** helped ** ****** * ***** *** of ****** ****** *** ********** ******** solutions. ***** ****** **** ****** ** accelerate *** ******* ******, ********* *** composition ** *** ******* *******, *** more **** ********** *** *********** ****** to **** ** *** ******** ** be $** *******.
Semiconductors / ****** *****
*** ******* ******** ******* ********** **** supply *****, ********** *** **** **** been ****** * ******* *** ****** chips ******* ***** *******:
** ******** ***** $*** ******* ** higher ***** *** ************** ** **** than ****, **** *** * ******** for **. ** -- **'** **** to *** ****** ** **** ***** in **. ****'* ** **** **** helped *** ** ***********.
** ** ** **** *** **** now, ** ********** ***** ******* ** run *** **** ** ****** ****** parts, **'* ***** * ********* ***********, particularly *** **********-***** **************, *** ** do ******* *** *** ******** *** about * $** ******* ******** ** the ***** ****** ** ******* **** we **** ******** *** ***** ** secure ***** *** *** ***** ** have ** ****. ** $** ******* tailwind ** **** ******** ** ****'* cost *******.
ChatGPT ******
*** ******* ***** ***** *******, **** Motorola's *** ********** **** ******* ** an ********* ** *** **** ** advances ******** ** ****** **** *********:
** *******, * *****, ** **** an ********* ** *** ******* ** one **** ** ******* ******** **** is ****** ********. **'** ********** **** multiple ****** ** **** ****** ***** understanding, ****** ******** ************* *** ***** understanding ** *** ***** ***** **'** now ************ ** ****** *** *** products.
Safety **********
********** ** ** *******'* ******** ***** integrating *** ******* ************ *** ********, the ******* ********** *** "****** **********" program ******:
* *** ******* ** **** ****** Reimagine ******* ** ******** ** ***** all ***** ******** ******** ** ** integrated ******* *** ********** *** ************* of ******** ******** ** * ****** where **** ******** ** **** *********.
** **** **** ** ****, ** have ******** ***** **** ********** * piece ** ******** ****** *********** ***** actually ****** ********** ***** ********* ****** together *** **** ******** ****** ********** security ************* *** **** ****** ****** professionals ** ** **** ** ***, this ** *** *** ********** ****** the ****** ** ****** ***** ****, say, ** ***** **** ** ****** what ******** ** *** ***** ** view ** ****** ****** *******, ***, an ****** ******* ********, **** ****** control ********, ** ****, *** ******* trigger * **** ************ ** ****** in *** ********, **** **** ************ then -- ********* **** ******** * call ** ***, *********** *** *** informed ** ** ***** *********** ***. This ** -- ***** *** ************ our *********** ********, *** *** *********** platform *** **** ** ** *****. And * ***** ** * ********, we *** ******** ** **** ****** Reimagined.
*** ********* ***** ***** ********* **, showing ******* ******** ********, ********* ********, etc. ***** **** ********:
**** ** ********** **** ********'* ***** to ********* *** ******* ******** ** we ******** ********** ****** ** ******** / ************ Acquisition ********.
*******
*** **** ********** *** **% ***** security ****** ** ****** ************ ** Motorola's **** ** ** ********* ** somewhat ******** ************, ********** ***** *** ~$700 ******* **** ******** *** ******** in *** *** ******** ** *** past *** *****.
*** *** **** ***** **** **** could ** * ***** ****** ** drive ******* **** ***** ******** *** encourage **** ** **** ********* *******? As **** ** *** ***** ** the ***-**** ** *********** **** ***** cloud *********, **** *** *****? ****** some ************'* *** ***** * ******* discount *** ******* *******, **** ******** actually *** * *** ** *****.
*** ****: *********
*** ******* ** *** ****** *******. A ******** **** $*** ** *** (Ava) ** ****** ****** ****** **** a ******** **** $*** ** ***-**** hardware/software ***** (********/*****)
*** ********* ** ******** *** ******** from ***-**** ** *** ******* ****** revenue ***** *** ***.
**** **** **** *** ***** ** 📈🚀
****’* **********. **** **’** **** ** a ****** ** **** *** ** 45% *** ****. **% ** ***** MSRPs ** ****** ***********.
****'* **** ****** *** ****? ***** you *** * ****** ********** *** you **** * ******* ** ******* unverified ******, * **** ** ** careful ****.
*** ** ******* ********** *** **** is **** *** *********** **********. ***#* is **** ****** *****.
*** **** *** ***** **% *** MSRP. *** ********* *** ******** ********
**** ** *** ****. ** **** an *** ****** ***** ** *** acquisition ** **** ** * ******** VAR. ** **** ******** ***** *** to *** *** ******** **** *** as ** ****'* ********* ***** ** were *** ***** ****** ***** ******** with *** ***** *** ******** ******** with ****. *** ******** ****** *** remained *** **** ******* *** **********.
*** ** ******** ** ********* ** sell ***? **% *** **** *** existing ******** ******* ***** ** ***********.