OpenEye 2022 Financials And 2023 Outlook
OpenEye's CEO told IPVM the company, acquired by Alarm.com in 2019, aims to become the "global leader in the VSaaS market".
Related, read IPVM's OpenEye VMS/VSaaS Tested 2023.
In this note, based on an interview with OpenEye CEO Rick Sheppard, IPVM analyzes the company's financials, and how it works with parent Alarm.com across the following items:
- 2022 company financials
- Subscription-based business model
- 2023 outlook
- Be the "global leader in the VSaaS market"
- 4 investment priorities
- ODM partners and Hikvision status
- Integration with others
- International expansion
2022 **********
*******'* **** ******* **** **** ******* in ****, ****** ****** ** *** >30% ******** ** ***** *** ****** activations, *** **** ** ******** ** average ******* *** **********, ******** **** IPVM.
**** ********* **** *******'* **** ******* was ~$** ******* ** ****, ***** on *** *******'* ********** ** *** Q2 **** **** ******* ** $*.* million *** *** ******* ****** ****.
** ******** *******'* ***** **** ****** revenue *** ** *** $** ** $50 ******* ***** ** ** ***** sells * *********** ****** ** ******** including **** ********* *** ******* (*** suppliers ********* ******).
*******'* ****** *******, *****.***, ******** ** 2022 **** *** ******* ******* ** $520 *******, ********** * **% *** growth. *****.*** **** ********* ** ***** to ****** *** ********** ******** ******* OpenEye *** ****:
*** ********** *******, *** ***** ******** initiatives, *** ******* ************* ********, *** our *** ******* **********. ***** ******** areas ************ *********** ****** **% ** our ***** **** ******* ** *** fourth *******.
Growing ************ *******
****** *** ***********, ******* ****** **** perpetual ********, * ******** ***** ********* a ***** **-***** **** *** *** edge ****** **** ** ****** ** subscribe ** *** *** ***** ********. Sheppard ******* *** **** *** ****** for ***** **** ***** *** ** ensure ******* **** **** ** ** independent ********. ** ********, *****.*** *********** subscription ******* ********* ** *** *********** cash ********.
******** **** **** **** *** **** with *****.*** ******* ******* ** ******** long-term ***** ** ************* ** * subscription-based ******** *****:
****'* *** ** *** *** ******** of **** ***** ****. ** *** enabled ** ** **** * **** longer **** *** ***** ** *** greatest ****-**** ***** ******** ***** ** course ** *** *** **/* *************.
******* *** *** * ************ ***** (EDU ** *** **** ** ********)*** **** *** **** * ********* license *****. **** *** ****** ** follows:
- *** **/* ****: $* **** *** channel/month
- *** **/* ********: $* **** *** channel/month
- *** **/* ****: $*.** **** *** channel / *** *****
*** ***** ******* **** *** ******* full-cloud *******,*** ******* ** ******** ** ******* a ******** ***** ********* ******** ***** video ***** **** ** ******** ** the ***** ***** ** ***** ********. This ** ******* ********* ******* ****** that ******* ******** ***** ********* ******** stores, ******** ********** *********, *** ******* retailers **** ******** **** ********* *****-***-*****, according ** ********.
2023 *******
***** *** ******* ******* *** **** revenue ** ****, ******** ****** *** future **********:
** ****** *** ********** ******* *** our ********** ***** ** ****** ** continue *** *** *********** ******.
******** **** ******* ** "******* **** with * ***** ***** ** *** cloud-first ***********." ** ********* **** ***** competitors *** ******* ********* **** **** the "****-****" **** ********* *** **** on ***** ********* ** ****** *****. Sheppard **** ********* **** *** ********** and ***** ** ******* ***-**-*** ********* are ** ****** ****** ********** *** smaller *********** ******** ** ******* ***:
***** **'** *** *** *********** **** runs ** *** **** ***, **** recording ***********, * ***** ****** *********** for ******* ***** ***** **** ***'* live ** * *******-***** ***********, *** thin ******, *** ****** ***, *** then *** **** ********* ***** *******, the *** ******* ******, *** *** amount ** ***********, **** ***** *****, that ** ***** *** **** ** sustain **** **** ** *********** *** to ******* ** ** * ******** pace - **'* ** ********** **** bar.
* **** ***'* *** *** ************* with *** ****, **, **, **, 40 ********* *** ***** ** ** able ** ******* **** ****.
******* ********* *** **** **** *** employees, **** **** ****** *** ********* since ** *** ******** ** ****. For ****, *** ******* *********** ******* its ********* ** **% ** ~*** employees.
****** *** ******* ******** ****, ** are ***********, * ******** **** *** tripled ***** *** ***********. *** ******* aims ** ******** *** ***** ********* by *** *** ** **** ****. In **********, *** ** *** *********** Eagle *** ******** ********* ******* ** people ** *****, ********** **% ** its ***** *********. *******,******* *** **** **** *** ***********.
********* *** ************ ******* ******* *** Alarm.com, ******** ********** **** ******* **** continue ** ******* ************* ***** ********* sustained ******* **** *** ****** *******:
** ******** ** *** *** *** P&L(profit *** ****). *** ***** ***** had **** ************ ********** ** ******** we **** ******** ** **** ** hit ***** ****** ****** ****** *****.
* ***'* ******* ** *** **** term, *** *** *** *********** ******, I ***'* ******** ***** ***** *** change ** **** ******** [** ***** independent].
Be *** "****** ****** ** *** ***** ******"
*******'* ****-**** **** ** ** ****** the "****** ****** ** *** ***** market." **** ************, ******** ******* "****** of ****** ***********," "**** ** ***," and "****** ******** ********" ** ******* for *********** **** *******:
** ***** ***** ** ** ***** of *** ****** ** ****** ***********.
* ***** *** *** **** ** use ** *** ******* ********, ** it ******* ************ ** **** *** end ***** *** *** ******* ******** when ** ***** ** ************* *** of ***** ********.
*** ***** *** ** *** ***** is * ****** **** ** ******** service. ** ***** ** **** *** sound, ****** ******** ******* *** ****** been *** *********** ** ******* ******* and *** ****** ** *************** **** as **'** ********* ** ***** ** all ** *** ******* *************. *** key ********* **** ** ** **** today ** ** ************ **** ** loyal, ********* ******* ******** **** ***** view ** ** * *******.
Investment ******** * - ****** ** ***** *******
******** ********* * ********** ******* *** OpenEye ** *** ******.
*** ***** ** ****** "****** *** infrastructure *********** ** ****** **** ****** recording". ****** ******-**-***** ******* ** ************ critical *** ***** ********* ** ** analyzed ***** ********* ********** ** ******-**-***** *******. ******* ***** **** *******,***, ******** ** ********, ******* * ***-******* ***********,***** *** ** *** ****** ****, *********** **** ******** * *** ******** (tested)**** ****.
******* **** *** **** ****** ********* solution ** ******* *** * **** release.
Investment ******** * - *********
*******'* *** ********** ***** ********* *** analytic **********. ***** **** ** * key ***** ** **********:
- ******** ************: ** ******** ** "**** businesses ********** ****** *** ******* ********* to ***** ******** ******** ********."
- *****-****** ********** ****** *** ****** *** Vehicles: ** ********** ** *********** **** Alarm.com's ******** ****** *** ******* **** to ******* "******** ********* ************." ******************: "***** ** ** **** ****** *** vehicle ********* *********. ** **** **** 'Smart ******.' **** ** ******* ** Alarm.com **********. *** ******** **** ******** than ****, ** *** ******* ** analytics **** * ****** ** *** partners ********* **** *** ******."
- ******* ******** ****** ****: ******* **** work **** *****.*** ** ******* *** capabilities **** **** ******** ** ****** anomalies ** ****. ******** **** ** example ** *** ***** ** **** data ************: "** ******* ** ****** to *** ******* *** ******** **** own ******* ******, [*** **** **] able ** **** **** **** *** give ***** * ********* **** ** research ** **** ****."
Investment ******** * - ******* ********' ********* **********
*** *** ********** ******** *** ******* is ****** ******* ********' ********* **********. Sheppard **** *** *******'* *** ********* management ****** **** ** **** ****** to **** ****:
** **** ** ********* * *** licensing ********** ****** **** **** ****** dealers ** ******** ** ********** ***** licenses, ******* ******* *****, **** ******** between *******, ******** ******** *******, *** a ***** ***** ** ***** ************.
*** ****** **** ***** ** ********* backend ************ **** **** ******** *** solution, **** * ******* *******'* ***********, easier. ** *** ******* ** ********** more ********** ****** *** ******* *******'* admin ************.
Investment ******** * - ******** ******** *** **** *******
*******'* *** ********** ******** ** ******** security *** **** *******. *** ******* aims ** ******* **** ******* ** meet ****** ******* *****.***'* "************ ****" bar **** ****** **** *** **** an **** ******* *** ************ ******** heavily **. ******** ********* *** ******* would ********* **** *****.*** ** ******* customer *******:
** *** ********** ** ***** * number ** ************, ********* **********, *** best ********* **** *****.*** ***********. **** time. **** **** ********* **** *** platform **** ******.
*******'* ******** ***** **** ** *** AWS ******, *** ******* *** *** own ****** **** **** ******** *** system ** * ***-**-*** *****. *****.*** mainly ******** ******* ************* ********* **** help **** ******** ******* ** **** cybersecurity ********** *** ********* & **********.
ODM ******** - *******, *******
******* ********* *** ** ***** * ODM ********, *******, *** *******, ********* to ****** *******, **** ******* (***) being *** **** ******, **** ********, as ***** *****:
****: "** **** ************" (***** ***** in ****** *******) ** *******'* ***** name.
*** ******* **** **** ******** * dual ******** ******** ***** ** ******* "an ********** ******" ** ******** **** both *********.
******** **** ********* **** ******* *** "pushed ** ******** [***] ********** **** from *********." *** ******* *** *** last ******* ************* ******* **** ***** has ********* ******** ** *****-******* *****(***).
*** **** ** ********* ********, ************* *** ********* ****
***********
******* **** ***** ** ******** ************* of *****.***, ** ******** ** "**** architecture ********" **** ***** *** **** channel ********, *** **** *** *****, the ******* ** ****** ** ****** technology **********, ******* ** ** ****** control, *********, ***** ** ****, *** camera *************.
******** ********* **** ** *** ** Alarm.com's ******* ******** **** **** ******* established ************* ***** *** ***********, *** company **** ****** *********** **** *** and *****, ********* **** ******** ********* as "*** *******" ** *******'* ******.
******** ********* ** ******* ** *********** with *** ** *******:
**** *** ****** * ****** **** in **** *** ********** ***********, [*** would] **** **** ******* ****** **** flow ******* ** ***. *** [**** will **] ********* ** ***, *** user, **** ** ****** ******* ********.
International *********
******* ***** ** ******* *** ************* expansion ** *** ******. ******** ****** international *** ********** ********** "*** ****** pillars" *** *******.
*** ******* ********* *** ********** ** the **, ***** *******, *** ****.********* *******’* ************* ******** *** ****** plan, ******** ********* *** **** ** follows:
**'* * ******** ***** ** ***** of *** *** ******* *********** *****. But ** **** ********* ** * key ********* ** *** ****-**** ****** strategy.
* ** ***** ** *******, ** one **** **** ***** ***** ******** service *** * ******** *******. *** integrations *** **** ***** *** **** well, *** **** *** ******* *** behind ** *********. ***** ******* **** have ****** *** ******* ********* *** fine, *** ***** ** ** *** to **** * ********* ****** ** people ** ********. * *** ***** an ***** ** **** ** ** a ****** ** ******* ** ********, but **** ******** ** ** **** into *** ****** *********, ********* ** in *** ******, ** **** **** OWS *** ********* *** *****. ** is *** ********. *** **** ** something ** ***** ** ***** ******* and **** ****** *** ****** ********* ability **** ** ***** ** ****** detection. ** **** *** * *** better ***.
** ******* **** ** ***** ******* systems, *** **** **** ** **. But **** **** ** ******* ***** on ***** ********* ***** **** ** use *** ******. **** ** *** of *** *** ******* * ******* Ava ***** **** *** **** ** did, **** **** ********* ***** **** to ***.
***** ********** #*,
****** *** **** ********.** ********* ******** *****, ********* ** one ** *** *** *&* **********.** *** *** ********* *** ****, I ********* *** ** **** ** our ***** *** *** *** ******** we **** ****. *** *** ******* our ******** *.* ******* **** “*****-**” (native) ****** *** ******* ********* *** an ***-*** ********* ** *** *****. We **** ** ********* * ********* person *** ******* ******** ***** ****** for *** ***** ****** **** ****, and *** ** ******* **** ******* the ********* **** *** ***** **** to ***. *** *** **** ****** to **** **** ************* **** *** coming **** ***** *** ********** ** analytics *** *********** ************ *** ******/******* appearance ****** *** ********.
**** ****, ** ** ***** ****** believe ** *** ***** ** *** open ******** *** *********** **** ******* analytics ****** *************. *** *******, ** will ** ********* *** *****-******** ******* plate ****** *** ******** ******** ** ISC ****, ******* ** *** ***** LPR ********* *******.*** ****** ** ** ***** **** a *********** ****** ******** *** ** open *********, ** **** ***** *** freedom ** ****** ** ****** *** analytics ******** **** **** ***** ***** needs.********** ** ***** ******** *** **** chooses, ** *** ******* ** ********** a ******** ******, ********, *** ******* experience ******* ******* *** ********.
**** ** *** *** *** ** at *** ***** ** *** ****** ISC ****.
***,
* **** ** ********* *** ** could *** ***** ** *** ***** to *** ********* ****** *********? **** of *** ** ******* *** ******* of ******* **** *********** *** *** ability ** ******* ****** ******* ***** Human/Vehicle ****** ***** ****** **** ******** efficiencies.
******
** *****,
***, ** ** **** ***** *** attribute ******.
***'* ******** * **** *** ***** ISC *** ** *** ******* *******.
#*, *********** *******! * *** * general ***** ***** ***** ********* *****-** are ******** **** ********* *** ***** providers. *** ******* ***, ******* ** another ***.
******* -****** ********* ******** **** - ** Manufacturers, ** *********
** **** **** ***** ******* **** since * *******. ****** **** ***** some ***** "******* ***'*" *** **** of *** ** ****** **** *******. The ***** **** ** *** ******** and ************ **** ** *** ****** for *** **** **** * **** relief. **** ****** *** ******* ******. When ** ***** **** ******. ******* to *** *** *** *** *** alerts **** ****!