Mobotix 2010 Financial Status and Growth Examined

In this update, we examine and summarize key points and claims made in Mobotix's 2010 financial report including growth rate, market position, future projections and market expansion. Readers can contrast this to our similar treatment of Mobotix's 2009 report.

General Performance

Mobotix reported nearly 20% annual growth. Rate of growth accelerated throughput the year with 8.7% growth in the first half of the year, increasing to 30.7% in the second half of the year.

For the year ending June 2010, total revenue was nearly 54 Million Euros (approximately 71 Million USD at current exchange rates).

Mobotix attributes their growth to international expansion and hemispheric camera sales. The US subsidiary grew approximately 50% this year after growing approximately 50% the previous year. Total exports increased from 68.4% to 73% of all sales. 

Dome sales growth was robust and now nearly matches box camera sales. Domes sales grew 31.8% to  €24.2 million while fixed camera sales grew 11.2% to €26.8 million.

General Statistics

Mobotix reports that their cameras are deployed in over 100,000 locations worldwide. They now note they are shipping 10,000 cameras per month (June 2010 was the first month they report reaching that level). On an annual basis, this implies shipping over 100,000 cameras per year.

Mobotix claims 8% global market share. The statistic is not cited but is presumably for the IP surveillance camera market. Given their reported shipping numbers, this implies total IP camera shipments of approximately 1 Million per year.

Total number of employees increased dorm 204 to 250 per the last year.

Future Projections and Market Expansion

Mobotix provided guidance for a bullish 30% growth rate for the next 12 months. The guidance is based on growth in the video surveillance market and expansion into access control. Specifically, Mobotix projects 23% growth from increased video surveillance sales and the balance from the access control market (implying a forecast of 3-4 Million Euros sales in access control. For more on their access control offering, review the T24 door station product offering.