ADI and Honeywell Homes management have been touting their spinout and IPO for months, including appearing on Wall Street as they widely shared on social media: And: However, the stock is down 29% from the start of when-issued trading, as sh...
By Dan Gelinas - 20 days ago
This spring, Axis had its best financials in many years (see Axis Strong Q2 2018 Results). However, over the summer, Axis had many products sold out. New Axis financial results for Q3 2018 show decreased growth and mixed results, with strong US...
By John Honovich - about 1 month ago
While Knightscope's new financials show the company only winning 11 new customers in the past 12 months, the company continues to win new investors. Two of the notable positive moves for the company are its NYC showcase and its participation in t...
By Dan Gelinas - about 1 month ago
ADI is one of the most powerful distributors in the security industry but how big are they? How much profit do they make? How much do they sell of Honeywell vs 3rd party products? As part of Resideo, ADI and Honeywell Home are being spun out. ...
By IPVM Team - about 1 month ago
ASCMA, aka Ascent, aka Brinks Home Security, aka MONI, aka Monitronics is being sued by a group of their lenders who allege: As of June 30, 2018, MONI itself is hopelessly insolvent with only $2.1 million of cash and cash equivalents on hand....
By Dan Gelinas - 2 months ago
Arlo is going to IPO at a projected valuation greater than Axis. Now, Arlo has released their 175-page Form S1 Registration Statement for its IPO. Inside this report, we share our results from examining this filling, including: What Arlo's 20...
By IPVM Team - 4 months ago
The show formerly known as ASIS, now GSX, is less than 3 months away. And it is struggling to get exhibitors to go back to Las Vegas, just months after ISC West, in a show with far lower attendance. In this note, we examine the most notable ab...
By John Honovich - 5 months ago
It has been a brutal 4 months for ADT. They first expected to IPO at ~$18. They IPOed at $14, dropping immediately to $12.39 And now, not even 4 months later, the stock is at just $7 per share. Big picture, they went from an expected market v...
By John Honovich - 6 months ago
For ISC West 2018, Milestone released ... their financials, touting "strong revenue growth in 2017". However, there were discrepancies with the 2016 report and the announcement only had a summary. Inside, based on speaking with Milestone and ob...
By John Honovich - 7 months ago
On March 22, 2018, the US issued a Presidential Memorandum on the Actions by the United States Related to the Section 301 Investigation, with 3 directives: A consideration to increase tariffs on goods from the PRC (China) Pursue dispute sett...
By John Honovich - 8 months ago
The last annual Avigilon financials are here. With the imminent Motorola acquisition completion, Avigilon will cease to be an independent publicly traded company. But Avigilon's tactics to get acquired has significantly impacted both their finan...
By John Honovich - 9 months ago
Arlo, the wireless IP camera offering that Netgear bought ~5 years ago for a few tens of millions is now doing more revenue than Avigilon and likely will get a higher market valuation than Axis' $3+ billion USD. Sounds crazy to those in the pro...
By John Honovich - 9 months ago
Investment bank Imperial Capital holds an annual Security Investor Conference where 60+ companies present, including this year: IPVM bought a ticket and attended the 2017 event. In this note, we review the key themes of the event, what investo...
By Brian Karas - 12 months ago
Honeywell has announced it will spin off ADI and its Home products division into a new public company. This is a big move for the mega-security distributor ADI, whose power at promoting products is a significant industry force. In this note, we ...
By John Honovich - about 1 year ago
Knightscope's H1 2017 financials are out, in the midst of their ongoing crowd funding approaching $17 million. In this note, we analyze Knightscope's H1 2017 financials, include revenue and unit growth, expenses increases, accounting issues and a...
By John Honovich - about 1 year ago
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 - over 1 year 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 - over 1 year 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 - over 1 year 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 IPVM Team - over 1 year 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 - over 1 year 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 - about 2 years 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 - about 2 years 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 - about 2 years 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 - over 2 years 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 - over 2 years ago
