I am still not sure what to make of this company. Looking at these presentations and their website etc. the technology seems amazing. I want to love it.
Then I look at the performance of a company in business for 10 years.
In this presentation it says 27 customers, but on page 12 it says only 15 live customer implementations and will not hit 27 until Q4 2020. COVID-19 impact concerns me on this number in Q4. Hopefully they have already taken payment from these customers.
The presentation also covers off on video analytics surveillance market being worth $5B USD in 2020. ICE seems to have less than 0.0005% of market share. Room to grow absolutely but who is taking up the rest of the market share? (I worked this out on $2.5m in revenue fpr 2020 calender year).
12,000 cameras across 38 sites = just over 315 cameras per site. Without knowing how many cameras are actually on a site, do their existing companies actually want to scale to 1000s of cameras or even have 1000s of cameras? I ask because I am not in the know.
Is there anyone here that provide clarity to my questions?
ICE Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
