FLIR's security division is an ambitious mix of FLIR's core thermal business plus multiple acquisitions, including of retail / consumer offering Lorex, enterprise DVTel and camera startup ISD. Right now, it is struggling. In this note, we examin...
By Brian Karas - 17 days ago
Falling video prices are such a concern that it has become a notable topic for Anixter's financial results and Anixter's executives. In this note, we examine Anixter's executives comments and what this means for the video surveillance market.
By John Honovich - 24 days ago
Hikvision's stock, on the China Shenzhen stock exchange, has more than doubled in the past year, vaulting the company's worth to an astounding (for the video surveillance industry) $44 billion USD (~300 billion RMB). Inside this note, we examine ...
By John Honovich - about 2 months ago
This report contains data on the revenue of 32 security manufacturers, trend analysis of whether they are gaining or losing ground and commentary on each included. The following chart previews the data in this report: Revenue data can be used...
By Brian Karas - 3 months ago
Avigilon had previously been known for big spending, hiring a large sales force and throwing lavish partner parties at tradeshows like ISC West. Now, the company says they are going to focus on profitability first. In this report we analyze Avigi...
By Brian Karas - 6 months ago
With acquisitions of Lorex, DVTel and ISD, adding to their core thermal offerings, FLIR has been building up its presence in the security / video surveillance market. In this report, we examine FLIR's security revenue, their financial trends over...
By Brian Karas - 10 months ago
Hikvision alleges that they receive no subsidies but their own financial records show $189 million of subsidies in 2015. Hikvision 'overseas' has run a marketing campaign to counter critical coverage of their company. In a trade magazine intervie...
By John Honovich - 10 months ago
Despite Avigilon's stock price collapse, management turnover, decelerating growth and net losses, Avigilon CEO shows that he is optimistic as ever. In this report, we examine Avigilon's CEO outlook and why the focus on top line revenue growth has...
By John Honovich - 11 months ago
Avigilon's stock went down 25% the day after it announced earnings. The stock had already been down by more than 60% from its peak. The market is very unhappy with Avigilon's performance, and it has to do squarely with Avigilon's quiet slashing ...
By John Honovich - about 1 year ago
No money to be made in distribution? The race to the bottom is destroying profits? Well, not for Hikvision's largest European distributor, DVS. In this report, we review their financials, contrasting them to Tri-Ed, Ingram and Norbain to show ...
By John Honovich - about 1 year ago
Dahua's profits are up 100%+, defying common sense and industry trends. We hired a China economics expert to investigate the source of those profits to better understand what is truly driving the world's second largest video surveillance manufact...
By John Honovich - about 1 year ago
Hikvision has $1.5 billion, at least, to spend internationally. Now, they have done their first Western acquisition, acquiring UK alarm manufacturer Pyronix. In this note, we review Pyronix's financials, their market position and the potential i...
By John Honovich - over 1 year ago
Pelco's 2007 acquisition for $1.5 billion USD remains one of the largest video surveillance deals ever, even including the industry's recent wave of buyouts. But the deal, nearly a decade later, has not worked out well. Now, Pelco has a new CEO ...
By John Honovich - over 1 year ago
Just a year ago, Hikvision was an unstoppable force, growing at an astounding 60% rate. Now, after a weak Q4 2015, Q1 2016 was even worse. In this note, we examine Hikvision's financials, looking at what is driving this.
By John Honovich - over 1 year ago
2015 was brutal for Avigilon. Most of the management team was ousted or quit, culminated by the 'retirement' of their leader / COO. The stock price, sales growth and profits all declined. But the end of 2015 provides hope for Avigilon. In this n...
By John Honovich - over 1 year ago
Growth hit a record low, with sales expenses continuing to surge yet minimal increases in R&D. The first financials after the death of the Schmode era and 3 executive departures (including the SVP of sales and VP of marketing) shows declining...
By John Honovich - almost 2 years ago
Though ASIS is supposed to be dedicated to security professionals, their main customer base and revenue source ($10+ million) is manufacturers. Manufacturers each pay tens to hundreds of thousands for booths plus around a million to sponsor vario...
By John Honovich - almost 2 years ago
Milestone's CEO just published a 205-page book titled 'Business Magnetism'. Why? No idea. Would assume he had better things to do... The first 150 pages are painful, with statements like: "They realize the rarity of this opportunity, and feel t...
By John Honovich - almost 2 years ago
A number of Avigilon investors and analysts have asked us about the potential for Avigilon to be bought out / taken over. Basically, with the stock price down so far (60%+ since the peak last year), the idea here is that Avigilon is now very 'che...
By John Honovich - almost 2 years ago
Another Avigilon executive is out. This time it is the head of sales. Things are starting to get pretty bloody at Avigilon. In this note, we examined what happened and what it means for the former fast rising manufacturer.
By John Honovich - about 2 years ago
They are the star of nearly every Chinese spam email now. Plus, they just picked up Samsung. We interviewed Nextchip, the company behind AHD, who claimed huge growth and volume shipments, as well as explaining what their market strategy is. Insi...
By John Honovich - about 2 years ago
Things keep getting worse for Axis and now sales are actually shrinking. In this note, we break down: How revenue and profits are sinking Which regions and areas hurt the most What the bright spot for Axis is How Axis is in denial on degrad...
By John Honovich - about 2 years ago
China is the #1 threat to video surveillance providers around the world but how well are Chinese and Taiwan surveillance manufacturers actually doing? This report breaks down the financial performance of notable Chinese and Taiwanese video survei...
By John Honovich - about 2 years ago
Before becoming a Canon subsidiary, Milestone made a big deal of releasing their annual financials. Now, Milestone has stopped this. However, IPVM has found Milestone's 2014 financials. Inside, we examine and explain critical details including: ...
By John Honovich - about 2 years ago
Avigilon growth rate continues to slow down sharply yet the company's aggressive spending continues. Because of that, the stock market is punishing Avigilon yet. In this note, we break down Avigilon's financial results, look at the causes of Avi...
By John Honovich - over 2 years ago
