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Jun 30, 2023
Vislink Q2 2023 Earnings Report
Reported second quarter 2023 financial results, highlighting a 91% year-over-year increase in the MilGov segment and strategic shifts towards the public safety market.
Key Takeaways
Vislink reported its Q2 2023 financial results, with a significant 91% year-over-year increase in the MilGov segment, reaching $1.2 million. The company is focusing on the public safety market and implementing cost-saving measures.
MilGov segment achieved a 91% year-over-year revenue growth, totaling $1.2 million in Q2.
Steven Teese appointed as VP of Sales for the Americas to drive growth in key segments.
Vislink is focusing on converting its robust sales pipeline with opportunities ranging from $500,000 to over $1 million.
Implemented a 5% price increase on all new orders.
Vislink
Vislink
Forward Guidance
Vislink is committed to innovation and operational efficiencies, expecting over $1 million in annual cost savings and aiming for predictable, recurring revenue from software and services to drive sustainable growth.
Positive Outlook
- Successful production ramp of AeroLink™.
- Positive market response to Cliq.
- Intensifying efforts to enhance operational efficiencies.
- Expecting more than $1 million in cost savings annually.
- Drive to secure more predictable, recurring revenue from software and services.
Challenges Ahead
- Navigating uncertainties and unique industry dynamics.
- Elongated sales cycles associated with the new public safety market.
- Risks associated with converting the sales pipeline.
- Dependence on technological innovation.
- Reliance on cost-saving measures.