Verint Surveillance Revenue Steep Drop

Author: John Honovich, Published on Dec 05, 2012

Verint's painful decline in (or perhaps out of) the surveillance market continues. In their most recent quarterly report for Q3 2012, revenue for Verint's video surveillance division dropped 22%. In this note, we examine the long-term trend since 2007, compared to Avigilon and Axis, why this is happening and what this means for Verint.

Verint said the cause of the steep drop was 'a few large customers':

"***** ************ ******* ********* ************* **%, ** $*.* *******, **** $32.2 ******* ** *** ***** ****** ***** ******* **, **** to $**.* ******* ** *** ***** ****** ***** ******* **, 2012. *** ******** *** ********* ************ ** * $*.* ******* decrease** ******* **************** *** ** * ********* ** ******* ********** ********** **** a *** ***** *********, ********* ****** ** ** ******** ** ******* ********** ** other *********, ** *** ***** ************* **, ****."

****** ***** ** **** *** *** ** * ********** ***** number ** ***** ********* ** ********** ******** (***-**** ***** *** most ****** *** ********* **** ***** *** *************). ***** ****** may ** ******* ** ** **** ** *** ******** ********, it **** *** **** **** *** ***** **** ** ******* new ******** **** **** ** ** ************** ***** ** *** likes ** *********, *******, ***.

***, ******'* ************ ******* ** ** ** ****** *** **** of ~$*** ******* *** ******** ******** ** **** *** ****, ********** ******** ******* *** $*** *******.

************, ***** ***** ******* *** ***** ****** *****, ***** *** companies **** *******, **** *** ******* *******:

"******* ***** ******* ** *** ***** ************ ******* ********* ** 53% ** *** ***** ****** ***** ******* **, **** , compared ** **% ** *** ***** ****** ***** ******* **, 2011 *** ** * ******** ** ******* *******, ********* ** lower ********** ** ******** *****."

Comparing *** *******

** * *****, ******'* ************ ******* *** ******** ~**% **** ~$144 ******* ** ~$*** *******. *******, **** **** *** ******* the **** ********* ** *** *******. ** *** ********, *** overall ************ ****** *** *****. **** ** *** ******** * modest **% ****** ****, *** ****** ** **** ** ****, 2012 ******* ****** **** **** ~$*** *******.

** *** *******, **** ********* **** ****** ** ** ****** past ******. *** *******:

  • ********, * ******* **** * ******* *** ** *** *****, had *** **** * ******* ** **** ***** **** ****** was ***** ~$*** *******. ***, **** ******* (** ****), *** two ********* *** *** **** *******.
  • **** ** ****, **** *** *** **** ****** ******'* ******* (~$250 ******* ** ~$*** *******). ***, **** **** **** **** 6 ***** *** ******* ** ******.

***** ******'* ******* ********** ******* ***** *** *** ******* **********, the ******* *** ******* ****** *** ****** *** ****** *** it ** *** ***** *** **** *** **** **** **** a ******* ***** ** ********.

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