Latest news with #Haivision
Yahoo
12-06-2025
- Business
- Yahoo
Haivision Systems Inc (HAIVF) Q2 2025 Earnings Call Highlights: Navigating Growth Amidst Challenges
Revenue: Q2 fiscal 2025 revenue was $34.3 million, up $100,000 year-over-year. Year-to-Date Revenue: $62.5 million, down 9.2% from the prior year. Sequential Revenue Growth: Q2 revenue grew 22% over Q1. Recurring Revenue: $7.2 million in Q2, up 11% year-over-year; $14.2 million year-to-date, a 10% increase. Gross Margin: Improved to 73% in Q2, up from 71.7% a year ago. Total Expenses: $28.2 million in Q2, up $5.5 million year-over-year. Operating Loss: $3.2 million in Q2 compared to operating income of $1.8 million in the same period last year. Adjusted EBITDA: $1.7 million in Q2, down from $5.1 million in the same period last year. Cash Balance: Ended the quarter with $11.8 million, a decrease of $4.8 million from the previous quarter. Employee Count: 380 employees at the end of Q2, compared to 365 last year. Warning! GuruFocus has detected 4 Warning Signs with HAIVF. Release Date: June 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Haivision Systems Inc (HAIVF) has completed its operational efficiency model, leading to a solid handle on cost structure, gross margins, EBITDA, and cash generation. The company has seen a solid increase in its long-term sales pipeline, with strong orders and revenue growth in the global controller market. Haivision Systems Inc (HAIVF) launched several new products, including the AI-based Kraken X1 for defense markets and the 5G transmitter platform Falkon X2, which are expected to drive future revenue growth. The company secured a significant win with Warner Bros. Discovery, replacing CNN's entire fleet of LiveView equipment, marking a $5.5 million order. Recurring revenue from maintenance support and cloud services grew by 11% year-over-year, indicating strong customer loyalty and future stability. Year-to-date revenue for the first six months was down 9.2% from the prior year, indicating a decline in overall sales performance. Total Q2 expenses rose by $5.5 million year-over-year, driven by settlement and legal fees, currency-related impacts, and strategic investments in R&D. The company reported an operating loss of $3.2 million for the quarter, compared to operating income of $1.8 million in the same period last year. Adjusted EBITDA for the quarter declined by $3.4 million compared to the same period last year, reflecting increased operating expenses. The company faces challenges from currency fluctuations, particularly the weaker Canadian dollar, which impacted total expenses and foreign exchange losses. Q: What drove the gross margin expansion this quarter? Was it due to the shift from integrator to manufacturer, or were there other factors involved? A: Dan Rabinowitz, CFO, explained that the transition from an integrator to a manufacturer positively impacted the business by reducing the sale of low-margin third-party components. Additionally, the fixed cost of production was amortized over a broader revenue base, contributing to improved margins. Q: Can you elaborate on the strength of the sales pipeline and the areas of excitement? A: Dan Rabinowitz, CFO, noted that the robust sales efforts across the company have strengthened the pipeline, particularly in the control room space. CEO Miroslav Wicha added that Haivision is involved in numerous multimillion-dollar opportunities, indicating a strong pipeline across both mission and broadcast sectors. Q: What were the key factors that led Warner Bros. Discovery to choose Haivision over competitors for CNN's needs? A: Miroslav Wicha, CEO, highlighted that Warner Bros. Discovery selected Haivision due to superior technology, transparency in business models, and reliable support. The decision was influenced by Haivision's HUB 360 platform and the company's professionalism and reliability. Q: How does the company view the impact of US government spending and defense budgets on its business? A: Miroslav Wicha, CEO, expressed confidence in the defense sector's spending, noting that Haivision has not seen any program cancellations or delays. The company is optimistic about increased defense budgets globally, which positively impacts their pipeline and future growth. Q: What is the expected impact of the US Navy contract on Haivision's margins and revenue? A: Dan Rabinowitz, CFO, stated that the Navy contract could impact overall gross margins by about 60 basis points. The contract is expected to ramp up towards the end of the fiscal year, with significant contributions anticipated in 2026 and beyond. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Haivision Announces Results for the Three Months and Six Months Ended April 30, 2025
MONTREAL, June 11 2025 /CNW/ - Haivision Systems Inc. ("Haivision" or the "Company") (TSX:HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced its results for the second quarter ended April 30, 2025. "We have announced a number of new product introductions for our Broadcast and Mission markets," said Mirko Wicha, President and CEO of Haivision. "In the Broadcast space, the Falkon X2 is our next generation, lower cost 5G transmitter, which enables Haivision to compete at a price point we could not participate in previously. Meanwhile the Kraken X1 Rugged delivers low latency encoding and transcoding 'at the edge' enhanced by AI processing capability to support the toughest demands of our Mission customers. We expect that these products, as well as other innovative product introductions will return Haivision to double-digit revenue growth in 2026 and beyond." Q2 2025 Financial Results Revenue of $34.2 consistent with prior year, overcoming our move from offering bespoke "integrator" solutions that include lower margin, third-party components, and represents a sequential quarterly increase of 21.7%. Gross Margins* were 73.0%, a notable improvement from 71.7% for the same prior year period. Total expenses were $28.2 million, an increase of $5.5 million from the same prior year period, but includes non-recurring expense of $1.5 million for legal settlement, interest, and fees and the impact of a weaker Canadian dollar. Operating loss for the quarter was $3.2 million compared to operating income of $1.8 million for the same prior year period. Adjusted EBITDA* was $1.7 million compared to $5.1 million for the same prior year period. Adjusted EBITDA Margins* was 4.9% compared to 14.8% for the same prior year period. Financial Results for the six months ended April 30, 2025 Revenue was $62.5 million, a $6.3 million decrease from the same prior year period and reflects the continued transition away from the integrator model in the control room space. Gross Margins* were 72.5%, a modest improvement from 72.3% in the same prior year period. Total expenses were $50.7 million, an increase of $5.1 million from the same prior year period, but includes non-recurring expense of $1.7 million for legal settlement, interest and fees and the impact of a weaker Canadian dollar. Operating loss was $5.4 million compared to an operating income of $4.1 million for the same prior year period. Adjusted EBITDA* was $2.2 million, compared to $10.3 million for the same prior year period. Adjusted EBITDA Margins* were 3.6% compared to 14.9% for the same prior year period. Recent Company Highlights Haivision announced the new Kraken X1 Rugged which unleashes uncompromising power and AI-driven intelligence in tough operational environments. Haivision unveils Falkon X2: Pushing the Boundaries of 5G Video Transmission for Live Broadcasting. Published its sixth annual Broadcast Transformation Report, highlighting the state of technology adoption in the broadcast industry. Haivision wins ISE Best in Show award for Haivision Command 360 video wall solutions for operations centers. Awarded the IBC Innovation Award for its live video contribution solution over private 5G networks at the summer games in Paris. Haivision joins consortium with Airbus Defense and Space to develop new technologies for rapid, secure, and reliable communications. Haivision MCS awarded US$61.2 million (CAD$82 million) production agreement by U.S. Navy for next-generation combat visualization and video distribution systems. Haivision collaborates with Shield AI to bring together full-motion video with AI object detection for defense and ISR applications. France Television provides exclusive coverage of the Paris 2024 Olympic surfing competition with Haivision's private 5G video transmission ecosystem. "Approximately 78% of our operating expenses are denominated in Euros and US dollars, making this quarter particularly challenging. We have seen the Canadian dollar slump when the U.S. administration announced tariffs and then rally when there was a subsequent reprieve." said Dan Rabinowitz EVP and Chief Financial Officer. The result of the recent volatility, Haivision likely benefited by $2.1 million in incremental revenue during the quarter offset by an increase in operating expenses by $1.8 million." Added Mr. Rabinowitz. Financial Results Revenue for the three months ended April 30, 2025 was $34.2 million largely comparable to the prior year comparable period. Revenue for the six months ended April 30, 2025 was $62.5 million, a decrease of $6.3 million from the same prior year period. Sales accelerated in the second quarter and were able to overcome the impact of our transformation from "integrator" in the control room space and the resulting decrease in sales of third-party components and related professional services that are often a significant component of these solutions. A related result was an improvement in resulting Gross Margins*. Gross Margin* for the three months and six months ended April 30, 2025 was 73.0% and 72.6%, respectively compared to 72.6% and 72.3% for the prior year comparable periods. Gross Margin* were positively impacted by our decision to transition away from offering lower-margined, third-party components, Total expenses for the three months and six months ended April 30, 2025 were $28.2 million and $50.7 million, respectively representing increases of $5.5 million and $5.1 million when compared to from the prior year comparative periods. The year-over-year increases are largely related to legal settlement expense, interest and fees (including Haivision legal fees) amounting to $1.7 million (of which $1.5 million was realized in the second quarter) and the impact of the weak Canadian dollar which added $1.8 million to total expenses. For the three months ended April 30, 2025, a modest improvement in gross margins resulted in an additional $0.5 million in gross profits when compared to the prior year comparative period but was not enough to overcome the increases in total expenses of $5.5 million resulting in a decline in Operating profit of $5.0 million. For the six months ended April 30, 2025, the $6.3 million decrease in revenue resulted in a decrease of gross profit* of $4.4 million. The decrease in gross profit* and the $5.1 million in total expenses resulted in a $9.5 million decrease in operating profit when compared to the prior year comparative period. Similarly, Adjusted EBITDA* for the three months ended April 30, 2025 was $1.7 million, a decrease of $3.4 million when compared to the prior year comparative period. The $5.0 decline in year-over—year operating profit was offset by reclassification of the $1.5 million non-recurring expense related to the recent Vitec SA litigation. The Adjusted EBITDA margin* for the three months ended April 30, 2025 was 4.9% compared to 14.8% for the prior year comparative period. Adjusted EBITDA* for the six months ended April 30, 2025 was $2.1 million, a decrease of $8.2 million from the prior year comparative period. The $9.5 million decrease in operating profit was partially offset by the reclassification of the $1.7 million non-recurring expense related to the recent Vitec SA litigation. The Adjusted EBITDA margin* for the six months ended April 30, 2025 was 3.3% compared to 14.8% for the prior year comparative period. Net loss for the three months ended April 30, 2025, was $2.4 million compared to net income of $0.9 million for the prior year comparative period. The $3.3 million decrease is related to the increase in total expenses but was partially offset by the $1.6 million decrease in income taxes. Net loss for the six months ended January 31, 2025 was $3.5 million compared to net income of $2.2 million in the prior year comparative period, The $5.7 million decrease in net income resulted from year-over-year decrease in first quarter revenues resulting in a $4.4 million decrease in Gross Profit*; the $5.1 million increase in total expenses; offset by the $3.6 million decrease in income taxes. *Measures followed by the suffix "*" in this press release are non-IFRS measures. For the relevant definition, see "Non-IFRS Measures" below. As applicable, a reconciliation of this non-IFRS measure to the most directly comparable IFRS financial measure is included in the tables at the end of this press release and in the Company's management's discussion and analysis for the three months and six months ended April 30, 2025. Conference Call Notification Haivision will hold a conference call to discuss its fourth quarter and full year financial results on Wednesday, June 11, 2025 at 5:15 pm (ET). To register for the call, please use this link After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry. Financial Statements, Management's Discussion and Analysis and Additional Information Haivision's consolidated financial statements for the second quarter ended April 30, 2025 (the "Q2 Financial Statements"), the management's discussion and analysis thereon and additional information relating to Haivision and its business can be found under Haivision's profile on SEDAR+ at The financial information presented in this release was derived from the Q2 Financial Statements. Forward-Looking Statements This release includes "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws, including, without limitation, statements regarding the Company's growth opportunities and its ability to execute on its growth strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on opinions, assumptions and estimates that, while considered reasonable by Haivision as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under "Risk Factors" in the Company's latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company's SEDAR+ profile at These factors are not intended to represent a complete list of the factors that could affect Haivision. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Haivision undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws. Non-IFRS Measures Haivision's consolidated financial statements for the second quarter ended April 30, 2025 are prepared in accordance with International Financial Reporting Standards – Accounting Standards ("IFRS® Accounting Standards"). As a compliment to results provided in accordance with IFRS Accounting Standards, this press release makes reference to certain (i) non-IFRS financial measures, including "EBITDA", and "Adjusted EBITDA", (ii) non-IFRS ratios including "Adjusted EBITDA Margin", and (iii) supplementary financial measures including "Gross Margins" (collectively "non-IFRS measures"). These non-IFRS measures are not recognized measures under IFRS Accounting Standards and do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. Rather, these non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS Accounting Standards measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Our management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. For information on the most directly comparable financial measure disclosed in the primary financial statements of Haivision, composition of the non-IFRS measures, a description of how Haivision uses these measures and an explanation of how these measures provide useful information to investors, refer to the "Non-IFRS Measures" section of the Company's management's discussion and analysis for the three months and six months ended April 30, 2025, dated June 11, 2025, available on the Company's SEDAR+ profile at which is incorporated by reference into this press release. As applicable, the reconciliations for each non-IFRS measure are outlined below. Non-IFRS measures should not be considered as alternatives to net income or comparable metrics determined in accordance with IFRS Accounting Standards as indicators of the Company's performance, liquidity, cash flow and profitability. About Haivision Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at Thousands of Canadian dollars (except per share amounts) Three months ended April 30, Six months ended April 30, 2025202420252024($)($)($)($) Revenue 34,29034,16962,45168,748 Cost of sales 9,2749,65817,15219,044 Gross profit 25,01624,51145,30049,704 ExpensesSales and marketing 8,1926,97814,70813,633 Operations and support 4,8423,9689,4737,965 Research and development 7,8126,99814,93414,026 General and administrative 4,7454,0278,3928,918 Share-based payment 1,0446951,4281,042 Legal settlement and related fees 1,549—1,716—28,18422,66650,65145,584 Operating (loss) profit (3,168)1,845(5,352)4,120 Financial expenses 171244339543 Income (loss) before income taxes (3,339)1,601(5,690)3,577 Income taxesCurrent (1,400)504(3,069)1,343 Deferred 45216584825(948)669(2,221)1,368 Net (loss) income (2,391)932(3,469)2,209 Other comprehensive income (loss)Foreign currency translation adjustment (1,799)1,995682(581) Comprehensive income (loss) (4,190)2,926(2,787)1,627 Net income (loss) per share: Basic $(0.08)$0.03$(0.12)$0.08 Diluted $(0.08)$0.03$(0.12)$0.07 Weighted average number of shares outstanding Basic 28,357,61429,152,54128,355,78329,090,446 Diluted 28,357,61430,311,65128,355,78330,130,367 Thousands of Canadian dollars As atApril 30,2025October 31,2024$$ AssetsCurrent assets Cash 11,82916,471 Trade and other receivables 25,61623,843 Investment tax credits receivable 1,9361,941 Income tax receivable 1,968— Inventories 14,42714,926 Prepaid expenses and deposits 4,4674,03560,24361,216 Property and equipment 4,2054,241 Right-of-use assets 5,0144,669 Intangible assets 8,79911,241 Goodwill 46,99646,721 Non-refundable investment tax credits receivable 8,0366,523 Deferred income taxes 7,5846,70480,63480,099140,877141,315 LiabilitiesCurrent liabilities Line of credit 7,2952,227 Trade and other payables 18,22816,371 Income taxes payable —625 Current portion of lease liabilities 1,6801,380 Current portion of term loans 1,1621,150 Deferred revenue 11,96214,24540,32735,998 Lease liabilities 4,0254,047 Long term debt 9741,463 Deferred revenue 3,4643,01148,79044,520 EquityShare capital 87,31488,742 Deficit (10,187)(6,110) Share-based compensation and other reserves 5,5145,399 Foreign currency translation reserve 9,4468,76492,08796,796140,877141,315 Thousands of Canadian dollarsThree months ended April 30, Six months ended April 30, 2025 2024 2025 2024 ($)($)($) ($) Net Income (loss) (2,391)932(3,469) 2,209 Income taxes (recovery) (948)669(2,221) 1,368 Income (loss) before income taxes (3,339)1,601(5,690) 3,577Depreciation 9368961,828 1,733 Amortization 1,3131,6372,612 3,345 Financial expenses 171244339 543EBITDA(1) (919)4,378(911) 9,198Share-based payments (LTIP) 1,0446951,428 1,042 Legal settlement and related fees 1,549—1,716 — Adjusted EBITDA(1) 1,6755,0732,233 10,240Adjusted EBITDA Margin(1) 4.9 %14.8 %3.6 % 14.9 %___________ Note: (1) Non-IFRS measure. See "Non-IFRS Measures." View original content to download multimedia: SOURCE Haivision Systems Inc. View original content to download multimedia: Sign in to access your portfolio
Cision Canada
11-06-2025
- Business
- Cision Canada
Haivision Announces Results for the Three Months and Six Months Ended April 30, 2025
MONTREAL, June 11 2025 /CNW/ - Haivision Systems Inc. (" Haivision" or the " Company") (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced its results for the second quarter ended April 30, 2025. "We have announced a number of new product introductions for our Broadcast and Mission markets," said Mirko Wicha, President and CEO of Haivision. "In the Broadcast space, the Falkon X2 is our next generation, lower cost 5G transmitter, which enables Haivision to compete at a price point we could not participate in previously. Meanwhile the Kraken X1 Rugged delivers low latency encoding and transcoding 'at the edge' enhanced by AI processing capability to support the toughest demands of our Mission customers. We expect that these products, as well as other innovative product introductions will return Haivision to double-digit revenue growth in 2026 and beyond." Q2 2025 Financial Results Revenue of $34.2 consistent with prior year, overcoming our move from offering bespoke "integrator" solutions that include lower margin, third-party components, and represents a sequential quarterly increase of 21.7%. Gross Margins* were 73.0%, a notable improvement from 71.7% for the same prior year period. Total expenses were $28.2 million, an increase of $5.5 million from the same prior year period, but includes non-recurring expense of $1.5 million for legal settlement, interest, and fees and the impact of a weaker Canadian dollar. Operating loss for the quarter was $3.2 million compared to operating income of $1.8 million for the same prior year period. Adjusted EBITDA* was $1.7 million compared to $5.1 million for the same prior year period. Adjusted EBITDA Margins* was 4.9% compared to 14.8% for the same prior year period. Financial Results for the six months ended April 30, 2025 Revenue was $62.5 million, a $6.3 million decrease from the same prior year period and reflects the continued transition away from the integrator model in the control room space. Gross Margins* were 72.5%, a modest improvement from 72.3% in the same prior year period. Total expenses were $50.7 million, an increase of $5.1 million from the same prior year period, but includes non-recurring expense of $1.7 million for legal settlement, interest and fees and the impact of a weaker Canadian dollar. Operating loss was $5.4 million compared to an operating income of $4.1 million for the same prior year period. Adjusted EBITDA* was $2.2 million, compared to $10.3 million for the same prior year period. Adjusted EBITDA Margins* were 3.6% compared to 14.9% for the same prior year period. Recent Company Highlights Haivision announced the new Kraken X1 Rugged which unleashes uncompromising power and AI-driven intelligence in tough operational environments. Haivision unveils Falkon X2: Pushing the Boundaries of 5G Video Transmission for Live Broadcasting. Published its sixth annual Broadcast Transformation Report, highlighting the state of technology adoption in the broadcast industry. Haivision wins ISE Best in Show award for Haivision Command 360 video wall solutions for operations centers. Awarded the IBC Innovation Award for its live video contribution solution over private 5G networks at the summer games in Paris. Haivision joins consortium with Airbus Defense and Space to develop new technologies for rapid, secure, and reliable communications. Haivision MCS awarded US$61.2 million (CAD$82 million) production agreement by U.S. Navy for next-generation combat visualization and video distribution systems. Haivision collaborates with Shield AI to bring together full-motion video with AI object detection for defense and ISR applications. France Television provides exclusive coverage of the Paris 2024 Olympic surfing competition with Haivision's private 5G video transmission ecosystem. "Approximately 78% of our operating expenses are denominated in Euros and US dollars, making this quarter particularly challenging. We have seen the Canadian dollar slump when the U.S. administration announced tariffs and then rally when there was a subsequent reprieve." said Dan Rabinowitz EVP and Chief Financial Officer. The result of the recent volatility, Haivision likely benefited by $2.1 million in incremental revenue during the quarter offset by an increase in operating expenses by $1.8 million." Added Mr. Rabinowitz. Financial Results Revenue for the three months ended April 30, 2025 was $34.2 million largely comparable to the prior year comparable period. Revenue for the six months ended April 30, 2025 was $62.5 million, a decrease of $6.3 million from the same prior year period. Sales accelerated in the second quarter and were able to overcome the impact of our transformation from "integrator" in the control room space and the resulting decrease in sales of third-party components and related professional services that are often a significant component of these solutions. A related result was an improvement in resulting Gross Margins*. Gross Margin* for the three months and six months ended April 30, 2025 was 73.0% and 72.6%, respectively compared to 72.6% and 72.3% for the prior year comparable periods. Gross Margin* were positively impacted by our decision to transition away from offering lower-margined, third-party components, Total expenses for the three months and six months ended April 30, 2025 were $28.2 million and $50.7 million, respectively representing increases of $5.5 million and $5.1 million when compared to from the prior year comparative periods. The year-over-year increases are largely related to legal settlement expense, interest and fees (including Haivision legal fees) amounting to $1.7 million (of which $1.5 million was realized in the second quarter) and the impact of the weak Canadian dollar which added $1.8 million to total expenses. For the three months ended April 30, 2025, a modest improvement in gross margins resulted in an additional $0.5 million in gross profits when compared to the prior year comparative period but was not enough to overcome the increases in total expenses of $5.5 million resulting in a decline in Operating profit of $5.0 million. For the six months ended April 30, 2025, the $6.3 million decrease in revenue resulted in a decrease of gross profit* of $4.4 million. The decrease in gross profit* and the $5.1 million in total expenses resulted in a $9.5 million decrease in operating profit when compared to the prior year comparative period. Similarly, Adjusted EBITDA* for the three months ended April 30, 2025 was $1.7 million, a decrease of $3.4 million when compared to the prior year comparative period. The $5.0 decline in year-over—year operating profit was offset by reclassification of the $1.5 million non-recurring expense related to the recent Vitec SA litigation. The Adjusted EBITDA margin* for the three months ended April 30, 2025 was 4.9% compared to 14.8% for the prior year comparative period. Adjusted EBITDA* for the six months ended April 30, 2025 was $2.1 million, a decrease of $8.2 million from the prior year comparative period. The $9.5 million decrease in operating profit was partially offset by the reclassification of the $1.7 million non-recurring expense related to the recent Vitec SA litigation. The Adjusted EBITDA margin* for the six months ended April 30, 2025 was 3.3% compared to 14.8% for the prior year comparative period. Net loss for the three months ended April 30, 2025, was $2.4 million compared to net income of $0.9 million for the prior year comparative period. The $3.3 million decrease is related to the increase in total expenses but was partially offset by the $1.6 million decrease in income taxes. Net loss for the six months ended January 31, 2025 was $3.5 million compared to net income of $2.2 million in the prior year comparative period, The $5.7 million decrease in net income resulted from year-over-year decrease in first quarter revenues resulting in a $4.4 million decrease in Gross Profit*; the $5.1 million increase in total expenses; offset by the $3.6 million decrease in income taxes. *Measures followed by the suffix "*" in this press release are non-IFRS measures. For the relevant definition, see "Non-IFRS Measures" below. As applicable, a reconciliation of this non-IFRS measure to the most directly comparable IFRS financial measure is included in the tables at the end of this press release and in the Company's management's discussion and analysis for the three months and six months ended April 30, 2025. Conference Call Notification Haivision will hold a conference call to discuss its fourth quarter and full year financial results on Wednesday, June 11, 2025 at 5:15 pm (ET). To register for the call, please use this link After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry. Financial Statements, Management's Discussion and Analysis and Additional Information Haivision's consolidated financial statements for the second quarter ended April 30, 2025 (the " Q2 Financial Statements"), the management's discussion and analysis thereon and additional information relating to Haivision and its business can be found under Haivision's profile on SEDAR+ at The financial information presented in this release was derived from the Q2 Financial Statements. Forward-Looking Statements This release includes "forward-looking information" and "forward-looking statements" (collectively, " forward-looking statements") within the meaning of applicable securities laws, including, without limitation, statements regarding the Company's growth opportunities and its ability to execute on its growth strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on opinions, assumptions and estimates that, while considered reasonable by Haivision as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under "Risk Factors" in the Company's latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company's SEDAR+ profile at These factors are not intended to represent a complete list of the factors that could affect Haivision. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Haivision undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws. Non-IFRS Measures Haivision's consolidated financial statements for the second quarter ended April 30, 2025 are prepared in accordance with International Financial Reporting Standards – Accounting Standards (" IFRS ® Accounting Standards"). As a compliment to results provided in accordance with IFRS Accounting Standards, this press release makes reference to certain (i) non-IFRS financial measures, including "EBITDA", and "Adjusted EBITDA", (ii) non-IFRS ratios including "Adjusted EBITDA Margin", and (iii) supplementary financial measures including "Gross Margins" (collectively " non-IFRS measures"). These non-IFRS measures are not recognized measures under IFRS Accounting Standards and do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. Rather, these non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS Accounting Standards measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Our management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. For information on the most directly comparable financial measure disclosed in the primary financial statements of Haivision, composition of the non-IFRS measures, a description of how Haivision uses these measures and an explanation of how these measures provide useful information to investors, refer to the "Non-IFRS Measures" section of the Company's management's discussion and analysis for the three months and six months ended April 30, 2025, dated June 11, 2025, available on the Company's SEDAR+ profile at which is incorporated by reference into this press release. As applicable, the reconciliations for each non-IFRS measure are outlined below. Non-IFRS measures should not be considered as alternatives to net income or comparable metrics determined in accordance with IFRS Accounting Standards as indicators of the Company's performance, liquidity, cash flow and profitability. About Haivision Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at Thousands of Canadian dollars As at April 30, 2025 October 31, 2024 $ $ Assets Current assets Cash 11,829 16,471 Trade and other receivables 25,616 23,843 Investment tax credits receivable 1,936 1,941 Income tax receivable 1,968 — Inventories 14,427 14,926 Prepaid expenses and deposits 4,467 4,035 60,243 61,216 Property and equipment 4,205 4,241 Right-of-use assets 5,014 4,669 Intangible assets 8,799 11,241 Goodwill 46,996 46,721 Non-refundable investment tax credits receivable 8,036 6,523 Deferred income taxes 7,584 6,704 80,634 80,099 140,877 141,315 Liabilities Current liabilities Line of credit 7,295 2,227 Trade and other payables 18,228 16,371 Income taxes payable — 625 Current portion of lease liabilities 1,680 1,380 Current portion of term loans 1,162 1,150 Deferred revenue 11,962 14,245 40,327 35,998 Lease liabilities 4,025 4,047 Long term debt 974 1,463 Deferred revenue 3,464 3,011 48,790 44,520 Equity Share capital 87,314 88,742 Deficit (10,187) (6,110) Share-based compensation and other reserves 5,514 5,399 Foreign currency translation reserve 9,446 8,764 92,087 96,796 140,877 141,315 Thousands of Canadian dollars Three months ended April 30, Six months ended April 30, 2025 2024 2025 2024 ($) ($) ($) ($) Net Income (loss) (2,391) 932 (3,469) 2,209 Income taxes (recovery) (948) 669 (2,221) 1,368 Income (loss) before income taxes (3,339) 1,601 (5,690) 3,577 Depreciation 936 896 1,828 1,733 Amortization 1,313 1,637 2,612 3,345 Financial expenses 171 244 339 543 EBITDA (1) (919) 4,378 (911) 9,198 Share-based payments (LTIP) 1,044 695 1,428 1,042 Legal settlement and related fees 1,549 — 1,716 — Adjusted EBITDA (1) 1,675 5,073 2,233 10,240 Adjusted EBITDA Margin (1) 4.9 % 14.8 % 3.6 % 14.9 % ___________ Note: (1) Non-IFRS measure. See "Non-IFRS Measures." SOURCE Haivision Systems Inc.
Yahoo
22-05-2025
- Business
- Yahoo
Haivision to Announce Second Quarter Fiscal 2025 Financial Results on June 11, 2025
MONTREAL, May 22, 2025 /CNW/ - Haivision Systems Inc. ("Haivision") (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, plans to announce financial results for its second quarter ended April 30, 2025 after markets close on Wednesday, June 11, 2025. Haivision's management team will host a conference call to discuss second quarter fiscal 2025 results at 5:15 p.m. ET on Wednesday June 11, 2025. To register for this conference call, use the link: After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry. Registration is open through the live call, to ensure you are connected for the full call we suggest registering a day in advance or at minimum 10 minutes before the start of the conference call. Alternatively, you can access the webcast through this link: A replay of the Conference Call will be available approximately two hours following the completion of the call. The same registration link will be live for participants to receive a unique access code and dial-in number to listen to the playback. About Haivision Haivision is a leading global provider of mission-critical, real-time networking and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded an Emmy® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. To learn more, visit Haivision View original content to download multimedia: SOURCE Haivision Systems Inc. View original content to download multimedia: Sign in to access your portfolio
Cision Canada
22-05-2025
- Business
- Cision Canada
Haivision to Announce Second Quarter Fiscal 2025 Financial Results on June 11, 2025
MONTREAL, May 22, 2025 /CNW/ - Haivision Systems Inc. (" Haivision") (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, plans to announce financial results for its second quarter ended April 30, 2025 after markets close on Wednesday, June 11, 2025. Haivision's management team will host a conference call to discuss second quarter fiscal 2025 results at 5:15 p.m. ET on Wednesday June 11, 2025. To register for this conference call, use the link: After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry. Registration is open through the live call, to ensure you are connected for the full call we suggest registering a day in advance or at minimum 10 minutes before the start of the conference call. Alternatively, you can access the webcast through this link: A replay of the Conference Call will be available approximately two hours following the completion of the call. The same registration link will be live for participants to receive a unique access code and dial-in number to listen to the playback. About Haivision Haivision is a leading global provider of mission-critical, real-time networking and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded an Emmy® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. To learn more, visit Haivision
