Pivot3 Q1 2013 Update

By Carlton Purvis, Published on Mar 27, 2013

Intransa's troubles have raised concerns about the viability of specialized surveillance storage appliances. However, Pivot3, another well known provider in this space, says its 2013 outlook is strong and that restructuring rumors about the company are misleading. For this note, we interviewed Pivot3 CEO Richard Bravman, examining the latest numbers and "software only" product plans.

[UPDATE: The CEO is gone one month after this initial post.]

Projections

Pivot3 projects 2013 growth of nearly 50 percent over 2012 to around $45 million. They cite nearly 600 customers served to date, with 390 customer orders in 2012. The company previously nearly doubled its revenue in 2012 to $31 million after raising $23 million for expansion. The company projects to be profitable with cash on hand and is expected to break even this year.

We noted last month that Pivot3 is gaining acceptance among large-scale surveillance projects, an area where there is less competition. Intransa, its biggest  brand competitor, has laid off all its staff, eliminating a rival.

Pivot3 says it has seen growth in interest in both its surveillance and non-surveillance offerings and says it sees opportunities in security for its VDI offerings [link no longer available] to provide a way for users to watch video from iPads or other devices from VMS platforms that don’t have mobile apps. However, most VMS platforms already have their own mobile apps.  

vSTAC OS 

We were given a preview of forward product plans into 2014, when Pivot3 will extend its offerings to include 'software only' products to add capabilites to vSTAC appliances. Pivot3's "vSTAC OS" will be sold separately from its hardware appliances. Pivot3 has traditionally bundled the two together, but in the future it wants to allow users to choose their storage device and load vSTAC OS later.

From the Pivot3 website: 



Pivot3 says vSTAC OS will provide users a way to migrate data intelligently from one array to another. The software will be compatible with both Pivot3 and third party hardware, offering the future potential of mix and match storage solutions. The company did not say how much it will sell the software for.

Expansion

As it adds products and services, Pivot3 plans to expand to additional markets worldwide. To facilitate its growth, the company has expanded some departments and contracted others. 

The company had 90 full-time employees last year, and now has 82. They say the change is due to employees leaving for other opportunities, one person being asked to leave, and contractors whose projects ended. The company has added three new positions in the last three weeks. At least two more job openings are posted on SimplyHired.com [link no longer available].

IPVM Analysis

The move to sell Pivot3's software 'only' has potential. Selling commodity hardware is tough. The margins are low. Users often have their own preferred providers and choosing one from a smaller provider brings risk of lock in or support problems (e.g., if an Intransa situation occurs). By offering its software independently, this enables new features end users to pick preferred hardware providers and minimize risk on that side. However, this will simultaneously increase pressure for Pivot3 to justify the value of its software and offering independently. How successful this will be is impossible to tell this far out from launch. However, it is an interesting development to watch.

Comments (0) : Members only. Login. or Join.

Related Reports

Anyvision Presents AI Facial Recognition and Mask Detection on Jun 08, 2020
AnyVision presented its AI facial recognition and mask detection at the May...
Sony 61MP Surveillance Sensor Examined on Sep 04, 2020
For a decade, the highest resolution single-imager surveillance cameras have...
PSIM CNL Acquired By Everbridge on Mar 09, 2020
The end has finally come for CNL. Despite for years saying they would...
Top Video Surveillance Service Call Problems 2020 on Oct 23, 2020
3 primary and 4 secondary issues stood out as causing the most problems when...
Verkada Raises $80 Million, Triples Valuation To $1.6 Billion on Jan 30, 2020
Verkada's rocketing valuation continues. 9 months ago, they got a...
The Booming Multi-Billion Coronavirus Fever Camera Market on Apr 21, 2020
The market for elevated body temperature detection cameras, aka 'coronavirus...
Costar Technologies / Arecont H1 2020 Financials Examined on Sep 16, 2020
Costar's financial results have been hit by the coronavirus with the company...
Integrators Rising Against Coronavirus on May 27, 2020
IPVM integrator statistics make it clear - Coronavirus's impact on business...
Coronavirus Hits Manufacturers, Standing Now, Worse To Come on Apr 06, 2020
Coronavirus is hitting security manufacturers, though overall modestly for...
Sunell "Panda Cam" Thermal Body Temperature System Examined on Apr 09, 2020
Sunell's Panda Cam is the most visually recognizable coronavirus camera, sold...
IDIS Presents 12MP IR Panoramic Fisheye on May 26, 2020
IDIS presented its 12MP IR panoramic fisheye camera at the April 2020 IPVM...
Favorite Access Control Manufacturers 2020 on Sep 28, 2020
200+ Integrators told IPVM "What is your favorite access control management...
Favorite Network Switches 2020 on Aug 31, 2020
Cisco has long been the gorilla of network switches but would an upstart...
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...
Favorite Video Analytic Manufacturers 2020 on Feb 25, 2020
Video analytics is now as hot as ever, driven by the excitement of advancing...

Recent Reports

Consultants Online Show LIVE Today! on Oct 27, 2020
IPVM's 7th online show will feature 20+ consultants and recruiters presenting...
Eagle Eye Networks Raises $40 Million on Oct 27, 2020
Eagle Eye has raised $40 million aiming to "reinvent video...
Hikvision Q3 2020 Global Revenue Rises, US Revenue Falls on Oct 27, 2020
While Hikvision's global revenue rises driven by domestic recovery, its US...
VICE Investigates Verkada's Harassing "RawVerkadawgz" on Oct 26, 2020
This month, IPVM investigated Verkada's sexism, discrimination, and cultural...
Six Flags' FDA Violating Outdoor Dahua Fever Cameras on Oct 26, 2020
As Six Flags scrambled to reopen parks amid plummeting revenues caused by the...
ISC Brasil Digital Experience 2020 Report on Oct 23, 2020
ISC Brasil 2020 rebranded itself to ISC Digital Experience and, like its...
Top Video Surveillance Service Call Problems 2020 on Oct 23, 2020
3 primary and 4 secondary issues stood out as causing the most problems when...
GDPR Impact On Temperature / Fever Screening Explained on Oct 22, 2020
What impact does GDPR have on temperature screening? Do you risk a GDPR fine...
Security And Safety Things (S&ST) Tested on Oct 22, 2020
S&ST, a Bosch spinout, is spending tens of millions of dollars aiming to...
Nokia Fever Screening Claims To "Advance Fight Against COVID-19" on Oct 22, 2020
First IBM, then briefly Clorox, and now Nokia becomes the latest Fortune 500...
Deceptive Meridian Temperature Tablets Endanger Public Safety on Oct 21, 2020
IPVM's testing of and investigation into Meridian Kiosk's temperature...
Honeywell 30 Series and Vivotek NVRs Tested on Oct 21, 2020
The NDAA ban has driven many users to look for low-cost NVRs not made by...
Ubiquiti Access Control Tested on Oct 21, 2020
Ubiquiti has become one of the most widely used wireless and switch providers...
Avigilon Aggressive Trade-In Program Takes Aim At Competitors on Oct 20, 2020
Avigilon has launched one of the most aggressive trade-in programs the video...
Mexico Video Surveillance Market Overview 2020 on Oct 20, 2020
Despite being neighbors, there are key differences between the U.S. and...