Not sure why it is price sensitive as I can't see any new financial information, but the presentation is a little more revealing (at least to me)
A few takeaways:
- the businesses now make a lot more sense (detect, access and illuminate)
- I did not appreciate the connection between perimeter monitoring & access, but these are very complimentary if you think about the clients you are targeting; and then if you add GJD's product in the mix, then 1 client can be targeted for all 3 offerings (although this may be complicated by the fact that Ava have distribution agreements with a range of providers in diff locations, so they may not be able to easily offer all 3 products directly)
- the software and AI for Aura Ai seems a no brainer, but not sure why the recurring revenues on this is not a bigger element
- no mention of Aura IQ (well at least in terms of a major game changer for the business) which is a little diff to the past
- the case studies (in particular the Aura AI-X) seems very compelling......I hope this is not a POC but rather a product ready to go and that it comes with AI offering which then seems to indicate a recurring revenue portion
- the graph on slide 9 finally makes sense......it would appear that they want to pivot from 60-70% product sales to OEM/Distribution being a much bigger share even though it has lower margins.........I suspect that should benefit recurring revenues
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