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Feb 28, 2021
VOXX Q4 2021 Earnings Report
Reported an increase in net sales, gross profit, operating and net income, and both EBITDA and Adjusted EBITDA.
Key Takeaways
VOXX International Corporation reported a strong fourth quarter and fiscal year, marked by significant increases in net sales, gross profit, operating and net income, and both EBITDA and Adjusted EBITDA when comparing the fiscal fourth quarter periods. The company's balance sheet remains strong, with a substantial increase in cash position year-over-year.
Net sales in Q4 2021 increased by $61.4 million, or 60.8%, to $162.5 million compared to $101.1 million in Q4 2020.
Operating income in Q4 2021 was $3.9 million, a $38.9 million increase from the operating loss of $35.0 million in Q4 2020.
Net income attributable to VOXX International Corporation in Q4 2021 was $9.4 million, a $31.2 million improvement from the net loss of $21.8 million in Q4 2020.
Adjusted EBITDA in Q4 2021 increased by $10.2 million to $11.9 million compared to $1.6 million in Q4 2020.
Revenue by Segment
Forward Guidance
VOXX International anticipates growth in Fiscal 2022 and expects strong bottom-line performance, driven by automotive awards, premium audio opportunities, and improvements in the Biometrics segment through strategic alliances.
Positive Outlook
- Poised for growth in Fiscal 2022 with anticipated strong bottom-line performance.
- Excellent position to continue growth trend due to the volume of automotive awards received and expected future awards.
- Premium audio offering and expanded distribution should result in new opportunities.
- Biometrics segment should show improvements given awards, projects in the testing phase, and new strategic alliance with GalvanEyes Partners.
- Strong cash position and balance sheet with access to capital, continuing to look for strategic transactions to drive profitability and enhance shareholder value.
Challenges Ahead
- Potential major downturns in the economy could impact customer base.
- Changes in the economy could impact customer base.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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