Motorola Solutions Q1 2021 Financials Examined

By Isabella Cheng, Published May 10, 2021, 09:40am EDT (Info+)

Motorola Solutions increased its projected video surveillance growth rate, claims they are taking market share and will reach over $1.1 billion in video surveillance revenue this year.

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Inside this report, we examine:

  • Video surveillance revenue growth
  • Overall revenue growth
  • North America v. International sales
  • Comments on demand and projected growth
  • Revenue growth to rival Axis
  • Government business demand
  • Education vertical growth
  • Integration success strategy
  • Body-worn camera competition against Axon
  • On Dahua and Hikvision

*** *********, *** ********'***-*,********* ************, *********** **** **********.

Video ************ ******* ** **.*% ** $*** *******

***** ************ ******* *** ** **** was $*** ******* ***, ** **.*% from $*** ******* ** ** ****, however, **** ******** ******* **** ************ and ***** ************.

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** ******** ******* (********) ****** *** Q1 **** ** ** *-**% **** over ****, ***** ** ********** ********* (Pelco *** ************) ******* ** $** to $** ******* *** *** *******.

******** ******** *** ** ******* ******** $48 ******* **** ************, ****** **** into $** ******* ** *** ******** and ** ******* *** $** ******* in ******** *** ********. *** "********" of **** ******* **** **** ***** and ************, ******** **** ****, ******** the ******* *** * ***** ***-***** acquisitions ** ****:

** **** * ************ ** ****. The ******** ** *** $** ******* of ** ******* **** **** **** acquisitions *** ******* ** ***** *** IndigoVision, *** *** *** ** **. The ***** ***** ************ **** *********** were ** *** ******* ****** ******** and *** ******** **********.

********'* ***** ***** ******* *** ~$*** million ** ** ****, ** *** Greg ***** ****** "***** ***** ***** up ************* **% ** *** ***** video ******** *******." **** ******* ** $700 ******* ****** *** **** *** Avigilon, *****, *** ************.

Overall ******* ** *%

******** ********* ******** $*.* ******* *** in ******* *** ** ****, ** 7% **** ** ****.

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***** ******** ****** ** ***** *** growth ** **** *** ******** *** Systems *********** ** **** ** *** Software *** ******** ********:

** ******** *** ******* *********** ***** were $* *******, ** *%primarily driven ** ****** ** ***** ******** *** ************ *** ********** ************** ****** ** ***** ***** ** public ****** ***, ***** **** ******** by ****** ***********.

****** ** *** ******** *** ******** segment, ** ******* *** $*** *******, up **% **** **** ****driven ** ****** ** *** ********, ***** ********, *** ******* ****** ********.

Video ******** ****** ****** ** ***** ******* *** ***************

***** ******** *** **** ***** ** drivers ** ****** *** **** ***** America *** ***************:

***** ******* ** ******* *** $*.* billion, ** *% ***growth ** ***, ***** ********, *** ******* ****** ********.

************* ** ******* ** $*** ******* was ** *% **** ****** ** EMEA, **** ***, *** ***** *******. The ****** ***driven ** ***** ******** *** ***.

********'* ******* ** ***** ******* ************ (~2/3) ** ***** *******.

Demand ** ***** ******** ******** "****** ******," **+% ********* ****** *** ****

****** ** ********'* ******** ******** ** "really ******" *** *** ******* ******* to *** **** **% ****** ** this ******** *** ****, ******* ******** expectations *** *** **** **** *** high *****, ***** ****:

*** ****** ***** * ***** *** is ****** ** *** ***** ******** business ** ****** ****** *** ** now ****** **** **** ****** ** be **% ****, ** **** *** high ***** ** ********** ** *** last ****.

**+% ** ********** ******** ** *** market ** *** ****** ******* ** in *** ****** ******. ******, ***** said ********'* ***** ******** ******** ** "growing ****** **** *** ******* ******":

** ***** *****, ***** ***** ** approximately **% ** *** ***** ***** security *******, *** *********** ** ** analytics, ***** ********, ****** ******* *** NDAA-compliant ************* ** *************** ** **** our *********** ***driving ****** ****** **** *** ******* ******.

***** **+% ** * **** ******* for ******* ******, ** ** ******** that ******** *** ****** **** ************ this ****, **** ** **** ***** IndigoVision *** ***** ** ***** ********* in ****.

Revenue ** ***** $* ******* ** ****, *********** ****

********'* ***** ******** ******* *** $*** million ** ****. **** **+% ******, Motorola ******* ***** ******** ******* ** be ~$*.* ******* ** *** *** of **** ****, *********** ***** ****' revenue ****** *** **** *** *****.

** *** **** *** *****, ******** has ******* ***** *** ***** ********, primarily ******* ************. ******** **** ******* ******** ***********, ******** *** **** **** *********** no ***** ******** ** **** ****'* projected ******* ****.

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*** ***** ***** *** ****** **** 2018 ***** **** ~*/* ** ********'* 2018 ******* ******* *** *********** **** did *** ***** ***** *** *** of ***** ****.

Optimistic ***** ******** ****** ** ********** ******

******** ** ********** ***** *** ******** of *** ***** ***** ** ********** entities, ******* ** ******* $*** ******* in ***** ***** *** ****** ***** sales ** *********** ** ****:

* ***** *** ****** ***** ** general *** ***** ******** **** ********** and ** *** ********that *** * ******* ******* ******** *** ** **** * *** ***** ***, will ******* $*** ******* to start there, and I think that really plays on as Greg said both strength in fixed and mobile. And I think we stand at the intersection of two really important things, transparency and government efficiency.

*******, *** ******* **** ******** ********, such ** *** ******** ****** ****, puts ******** ** * ******** ** gain *** ******** *****:

*** **** ***** *'* ***** **** is ***American ****** **** **** ** ** **** *** *****-**** ********* as it relates to incremental public safety spend, spend around education, we're fixing schools with both video security and access control as well.

Education "*** ** ******* ******* *********"

********* ** *** ** *** ******* growing ********* ** ********'* ***** *****, security, *** ****** ******* ********, *** company ****, ************ ****** **** ******* the $*** ******* ******** ******* ****** funding ******* *** ******** ****** ****:

***** **$170 ******* ******** ** ****** ******* that runs through September 23. So we've really got a duality of opportunities with education. The biggest opportunity we have with education is in our fixed video, security, and access control business. Simply ***, **'* **** *** ** *** ******* ******* ********* ** **** ********. We not only have a regional sales team, but we have a group of business development vertical specialists that focus and work out with schools on directing funding in those kind of things.

Video/LMR/PCR *********** "****** *****" ** *******

*********** ******* *****, *** (**** ****** radio), *** *** (************ *** ********** radio) *** *********** ** ********'* "****** sauce" ** *******, ********'* *** ****:

** * *********, **** * ***** the ****** ***** *** ** ** to *** **** **** ***** ******** in *****, *** **** ***integration *** ************* of that with the installed base that we have with thousands of LMR and PCR networks around the world.

******** ******* *** **** ***********, **** as *** *******'******* ******************, "*********" **** *********, ************ ** the ********* ********:

** **** * ****** ********* ******** going ** **** ******** ***** ******** fixed ***** ******** *** *** *** that ******* ********* **** ****. ** think ***** *** *** ** ********* on * **** ****** *******, ***** a ****** ** * *** ***** whereby ***** ******* ***** **** *** and *** ***** ** ******** **** enhances **** ******* *** **** **********. And * ***** ********* **** *** customers.

Body-Worn ******* ****** ***** **** ****

*** ******* ** ****** ***** ** the ****-**** ****** ******, ******* **** in ** ****, ******** **** ********* by ***% ** **,*** *****:

** *** **** ** *** **** that *** **** ******** ** *** competitor **** *** *********. ****grew ***** ******** **% ** **, ***** *,*** ***** in an absolute perspective whereby ** **** ****-**** ********* * ***%, ***** ** **,*** *****. So I think that's indicative of the share we've taken.

******** ***** ********* $**.* ******* *** ********** ******* **,*** ****-**** ******* ** the ****** ******** ** ******** ** an ******* ** *** *******'* ******** in *** ****-**** ******.

******** **** ** ***** ** ******* ****** ******** ******** *** ******* ** ********* ** be * "***********, ********** #*" ** the ****-**** ****** ******.

Hikvision *** ***** ***********

******** ******* "**** ***** ***** *****" in *****, *** **** ********* *** Dahua *** *** ***** ******* ****** the *******, *** ***** ************:

** *** *****-**** ***** *** *********** in *** *********** ****** **** ***** we ************ ** ***** ** ******* or ** ******* *** ****'* ******* out *****, ****.We ****** **** ***** ***** ***** ** *****. I know that Hikvision and Dahua will continue to be the indigenous providers in country.

*******, ******** **** **** ********** *** created * "********* ******" *** *** company ** "****** *** ******* ***********":

*** * ***** **** *** ****-********** and *** ******* ****** ***** *** vendors ** ******** ******** *************** **** clearly *** *favorable ****** ** **** ** ***** ***** ** ****** *** ******* ***********. So I think it's a tailwind.

*******, ******** ****** ** *** ******** won ************* ** *** ****** **** from ******, ************ ** *** ****** industry:

****** ********* *** ***** ***** *** I ***** *** **** **** ******* into *** ****** **** *** **** Australia, **'** *** *********** ************* *** to ****** **** ******** ********,we've ********* ***** *** ********* ** ****** ************* ** *** ****** ****.

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