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Haivision Systems Inc
TSX:HAI

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Haivision Systems Inc
TSX:HAI
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Price: 7.37 CAD 5.59%
Market Cap: CA$202.5m

Haivision Systems Inc
Investor Relations

Haivision Systems, Inc. engages in the production of end-to-end video streaming solutions for encoding, recording, managing, publishing and distributing secure video content. The company is headquartered in Montreal, Quebec. The company went IPO on 2020-12-16. The company delivers video through the Internet protocol (IP) video lifecycle (contribution, distribution, and delivery), using a range of software, hardware, and services. Its platform is comprised of intelligent edge devices specializing in image encoding/decoding. The devices are interconnected with a video management and networking software running on private and public clouds for video routing, processing, and management over any IP network. The company provides encoding, decoding, and transcoding to video streaming workflow. The company sells the product and allow real-time video to blue-chip end-clients operating across various industries such as technology, media and entertainment, manufacturing, consumer products, financial services, healthcare, and retail. The company provides infrastructure solutions for the video streaming market, servicing enterprises and governments.

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HAI
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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Mar 13, 2026
AI Summary
Q1 2026

Revenue: Reported revenue of $35.2 million, up 25.1% year-over-year, marking a third consecutive quarter of double-digit growth.

Profitability: Adjusted EBITDA rose to $2.6 million (7.5% margin), up ~370% from prior-year quarter; operating loss narrowed to ~$200,000.

Guidance: Reaffirmed full‑year fiscal 2026 revenue target of $150 million+, and reiterated plan to reach ~20% EBITDA in fiscal 2027.

New products: Began volume shipments of the Kraken X1 (KX1) AI edge processor and Falkon X2 transmitter; Falkon demand exceeded initial production plans.

Margins & costs: Gross margin was 70.5%, down 150 bps YoY driven by product mix (transmitters, HMP/server appliances and U.S. Navy timing); management is implementing price increases where needed.

Cash & capital structure: Ended quarter with ~$17 million cash, $5.5 million outstanding on a $35 million credit facility (expandable to $65 million); purchased ~1.9 million shares for $8.6 million under prior NCIBs and renewed NCIB for up to 1.8 million more shares.

Risks / market drivers: Near‑term procurement uncertainty from Middle East conflict and DHS funding delays; DRAM/server supply tightness from AI demand could affect availability and pricing.

Key Financials
Revenue
$35.2 million
Adjusted EBITDA
$2.6 million
Adjusted EBITDA margin
7.5%
Gross margin
70.5%
Recurring revenue
$7.3 million
Recurring revenue (% of revenue)
21%
Total expenses
$25.0 million
Operating loss
~$200,000
Cash
~$17 million
Credit facility outstanding
$5.5 million outstanding on $35 million facility
Total assets
$138 million
Total liabilities
$44.3 million
Share repurchases
~1.9 million shares purchased for $8.6 million (historical); NCIB renewed allowing up to 1.8 million additional shares
Expense amortization step-downs
~$600,000 and ~$350,000 per quarter (future reductions when acquisitions amortization ends)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Miroslav Wicha
Chairman, President & CEO
No Bio Available
Mr. Dan Rabinowitz
CFO, Secretary & EVP of Operations
No Bio Available
Mr. Jean-Philippe Demers
Chief Operating Officer
No Bio Available
Mr. Peter Maag M.B.A.
Chief Strategy Officer & Executive VP of Strategic Partnerships
No Bio Available
Mr. Jean-Marc Maurice Andre Racine
Chief Product Officer
No Bio Available
Mr. Marcus Schioler B.Sc.
Vice President of Marketing
No Bio Available
Mr. Miguel Serrano
Senior Vice President of Cloud
No Bio Available
Mr. Ronan Poullaouec
Senior Vice President of Engineering
No Bio Available
Mr. Brian Henry
President of MCS
No Bio Available

Contacts

Address
QUEBEC
MONTREAL
2600 Blvd. Alfred-Nobel, 5th Floor
Contacts
+15143345445.0
www.haivision.com
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