Financial Performance - Revenue for Q1 2024 was $7.5 million, a 17% increase compared to $6.4 million in Q1 2023 [11][15] - Gross profit for Q1 2024 was $4.5 million, representing a gross margin of 59.6%, up from 55.7% in Q1 2023 [11][14][15] - Net loss for Q1 2024 was ($0.7) million, or ($0.03) per share, compared to ($1.9) million, or ($0.08) per share, in Q1 2023 [11][14][17] - EBITDA for Q1 2024 was $114,000, a significant improvement from negative EBITDA of ($1.4) million in Q1 2023 [8][14] Balance Sheet and Cash Position - Cash and cash equivalents plus short-term bank deposits totaled $15.8 million as of March 31, 2024, up from $14.9 million at December 31, 2023 [14][18] - Total current assets were $32.6 million as of March 31, 2024, compared to $34.3 million at December 31, 2023 [4] - Total liabilities decreased to $12.2 million as of March 31, 2024, from $13.1 million at December 31, 2023 [2] Operational Highlights - Operating expenses decreased by 15% to $4.6 million in Q1 2024 compared to $5.3 million in Q1 2023, driven by corporate structure streamlining and resource realignment [11][26] - Research and development expenses decreased by 6% to $982,000 in Q1 2024, representing 13.1% of revenue, down from 16.1% in Q1 2023 [11] - Selling and marketing expenses decreased by 14% to $2.1 million in Q1 2024, representing 27.9% of revenue, down from 38.0% in Q1 2023 [11] Strategic Developments - The company completed its redomiciliation process to Canada and appointed a seasoned Canadian executive team [14][25] - Preparations for the launch of MultiSensor, a new AI-based intrusion detection system, are progressing according to schedule with anticipated sales beginning in fall 2024 [15] - The company is focusing on continuous improvement across key metrics for the remainder of 2024 [25]

OTTAWA, ON, June 4, 2024 /PRNewswire/ -- Senstar Technologies Corporation (NASDAQ: SNT), a leading international provider of comprehensive physical, video and access control security products and solutions, will report financial results for its first quarter ended March 31, 2024, on Thursday, June 13, 2024. Management will conduct a conference call to review the Company's financial results at 5:00 p.m. Eastern Time the same day. Earnings Conference Call Information: To participate, please use one of the fol ...

Company Participants Operator Kim Rogers Before we start, I'd like to point out that this conference call may contain projections or other forward-looking statements regarding future events or the company's future performance. These statements are only predictions, and Senstar cannot guarantee that they will, in fact, occur. Senstar does not assume any obligation to update that information. Actual events or results may differ materially from those projected, including as a result of changing market trends, ...

Senstar Technologies Ltd. (NASDAQ:SNT) Q3 2023 Earnings Conference Call November 30, 2023 10:00 AM ET Brett Maas - Hayden IR Fabien Haubert - Interim CEO Tomer Hay - CFO Operator It is now my pleasure to introduce your host, Brett Maas of Hayden IR. Thank you, sir. You may begin. Thank you. Welcome, and thank you for joining us today. I want to thank the management of Senstar Technologies for hosting today's call. With us on the call today from the company are Fabien Haubert, Interim CEO; Tomer Hay, CFO; an ...

Senstar Technologies Ltd (NASDAQ:SNT) Q2 2023 Earnings Conference Call September 6, 2023 10:00 AM ET Company Participants Kimberly Rogers - Hayden IR Fabien Haubert - Interim CEO Tomer Hay - CFO Conference Call Participants Operator Hello, and welcome to the Senstar Technologies Second Quarter 2023 Financial Results Conference Call and Webcast. [Operator Instructions]. It's now my pleasure to turn the call over to Kim Rogers of Hayden IR. Please go ahead, Kim. Kimberly Rogers Thank you, Kevin. Welcome, and ...

Financial Data and Key Metrics Changes - Reported revenues for Q1 2023 were $6.4 million, a decrease of 5% compared to $6.8 million in Q1 2022, primarily due to exceptional projects in EMEA and APAC in the previous year [18] - Gross margin for Q1 2023 was 55.7%, down from 65.8% in the same quarter last year, attributed to a shift in the product mix sold [18] - Operating loss for Q1 2023 was $1.7 million, compared to an operating loss of $0.7 million in Q1 2022 [20] - Net loss attributed to shareholders was $1.9 million or $0.08 per share, compared to a net loss of $1.1 million or $0.05 per share in the prior year [21] - Reported EBITDA for Q1 2023 was negative $1.4 million, compared to negative $0.3 million in Q1 2022 [21] Business Line Data and Key Metrics Changes - The company achieved significant growth in the U.S. market, particularly in the corrections vertical, which is one of the targeted verticals [12] - The contribution from North America, including LATAM, was 62% of total revenues, up from 45% in the previous year, while Europe contributed 31%, down from 38% [18] - APAC's contribution to revenue was 6%, down from 16% in the prior year [18] Market Data and Key Metrics Changes - The U.S. and Europe together accounted for about 80% of total revenue in Q1 2023, reflecting strong performance in the U.S. corrections market [12] - EMEA and APAC regions experienced lower revenues compared to Q1 2022 due to the completion of exceptional projects in the previous year [15] Company Strategy and Development Direction - The company aims to expand market share in high-value verticals such as energy, utilities, corrections, and logistics, focusing on comprehensive solutions [10][11] - There is a deliberate shift away from commoditized markets to sustain profitability and maximize customer value [10] - Investment in R&D is prioritized to drive product innovation and align with market demand [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and steps being taken to expand market share and drive growth [16] - The company is focusing on high-value vertical markets and investing in R&D to position itself for future success [16] Other Important Information - The company is developing adjacent solutions to enhance its product offerings, such as a workflow engine for logistics and pipeline protection solutions [8] - Cash and cash equivalents as of March 31, 2023, were $14.7 million or $0.64 per share [21] Q&A Session Summary - The call concluded with management thanking participants for their continued interest and support, looking forward to future updates [23]

Financial Performance - In the twelve months ended December 31, 2022, the company's revenue was $35.6 million, compared to $34.9 million in 2021 and $33.4 million in 2020, indicating a year-over-year growth of approximately 2%[52]. - The company reported an operating profit from continuing operations of $1.5 million and a net income attributable to shareholders of $3.8 million for the year ended December 31, 2022[54]. - Consolidated revenues for the year ended December 31, 2022, were approximately $35.6 million, an increase from $34.9 million in 2021 and $33.4 million in 2020[174]. - Revenues from continuing operations increased by 1.8% to $35.6 million for the year ended December 31, 2022, compared to $34.9 million in 2021[196]. - Operating income improved to $1.5 million in 2022, up from $1.1 million in 2021, driven by increased revenues and savings in operating expenses[201]. - Financial income for 2022 was $0.1 million, a significant improvement from financial expenses of $1 million in 2021, mainly due to foreign exchange gains[202]. - Tax benefits of $2.4 million were recorded in 2022, compared to tax expenses of $2.3 million in 2021, attributed to a different geographical mix of pre-tax profitability[203]. Currency and Foreign Exchange - The Israeli Shekel appreciated by 13.2% against the U.S. dollar in 2022, which resulted in a foreign exchange gain of $0.4 million for the company[59]. - The Israeli Shekel appreciated by 13.2% against the U.S. dollar in 2022, impacting foreign currency translation adjustments[187]. - The company recorded foreign currency translation adjustments totaling $9.7 million for both 2022 and 2021, compared to $9.1 million in 2020[187]. - The CAD depreciated against the U.S. dollar by 6.4% in 2022, impacting the dollar cost of operations in Canada[209]. Operational Challenges - The company experienced significant disruptions due to global supply-chain challenges, which negatively impacted operations and financial performance[42]. - The ongoing effects of the COVID-19 pandemic have led to unpredictable impacts on the company's future results of operations and overall financial performance[52]. - The company may face increased costs and operational disruptions due to potential tariffs or restrictions on imports from China or other emerging markets[46]. - Supply chain disruptions in 2022 led to longer delivery times and increased material prices, impacting manufacturing operations[155]. - The company may experience production delays if suppliers terminate or amend arrangements in a detrimental manner[86]. Market and Competition - The company faces intense competition in the security and safety market, which could lead to loss of market share and eroded profitability margins[65]. - The competitive landscape includes major players like Genetec Inc. and Avigilon Corp., with the company focusing on maintaining product quality and customer support as key differentiators[159]. Strategic Initiatives - The company aims to increase revenues from its Products segment, including Perimeter Intrusion Detection Systems (PIDS), Video Management Software (VMS), and Intelligent Video Analytics (IVA) through strategic verticals and new channels[113]. - The company plans to enhance its presence in strategic verticals such as critical infrastructure, correctional facilities, logistics, and energy, while also targeting emerging markets like China and Eastern Europe[123]. - The company anticipates organic growth post-divestiture of the Integrated Solutions Division, leveraging its industry position for strategic acquisitions[123]. - The company aims to refine and broaden its product portfolio by developing new products and entering into OEM agreements to meet customer security needs[123]. Research and Development - Research and development expenses for the continuing products segment were $4.0 million in 2022, consistent with $3.9 million in 2021 and $4.0 million in 2020[154]. - Research and development expenses remained stable at 11% of revenues for both 2022 and 2021, while selling and marketing expenses decreased to 25% in 2022 from 29% in 2021[195]. - Research and development expenses are expected to be approximately $4.6 million in 2023, focusing on new product development and technology improvements[225]. Intellectual Property and Compliance - The company has four patents and one pending patent application, relying on a combination of trade secret and copyright law to protect proprietary technology[83]. - The company may face significant costs and resource expenditure in defending against potential intellectual property infringement claims[84]. - The company is exposed to risks associated with international operations, including compliance with anti-corruption laws and varying regulatory environments[78]. Financial Position and Cash Flow - Cash and cash equivalents decreased to $15.0 million at December 31, 2022, down from $26.4 million in 2021, primarily due to net cash used in operating and investing activities[217]. - Net cash used in operating activities was approximately $9.5 million in 2022, compared to net cash provided of $6.0 million in 2021[228]. - The company expects ongoing cash requirements to be met through cash flows from operations, although liquidity may be affected by reduced demand for products[226]. Shareholder and Governance Issues - As of April 17, 2023, FIMI partnerships owned approximately 42.3% of the company's outstanding ordinary shares, allowing them to exert significant control over business decisions[94]. - Changes in Israeli law regarding corporate governance may result in the company following home country practices instead of NASDAQ requirements, potentially affecting shareholder protections[96]. - The company has not determined whether it will continue to make cash distributions in the future, which are subject to board discretion and various factors[95]. Product Development and Innovation - The company’s product portfolio includes advanced perimeter security solutions, with installations along tens of thousands of kilometers of borders and facility boundaries globally[126]. - The company’s latest product, FlexZone, can pinpoint intrusions to within ±3 meters and supports long cable lengths of up to 600 meters[130]. - The Senstar Symphony Common Operating Platform integrates video management and analytics, enhancing security management capabilities through sensor fusion[138]. - The intelligent video analytics capabilities include face recognition, automatic license plate recognition, and crowd detection, enhancing security and operational efficiency[145]. - The Senstar E5000 Physical Security Appliance is designed for challenging environments, combining hardware with the Senstar Symphony platform[145]. - The company maintains a centralized development approach in Canada, focusing on enhancing existing products and developing new technologies[153].

(Full year 2022 results for the twelve months ended December 31, 2022 are compared to the comparable twelve month period of 2021, except as mentioned.) Fourth Quarter 2022 Business Highlights: (Fourth quarter 2022 results for the three months ended December 31, 2022 compared to the comparable three month period of 2021, except as mentioned.) • Revenue grew to $35.6 million versus $34.9 million, with gross margin of 61% compared to 63%. • Operating expense reduced by 4% for an operating income increase of ov ...

Kim Rogers I would also like to acknowledge the exceptional work down by our team in navigating the COVID-19 pandemic. As the world faced these challenges, our team remains steadfast in its commitment to serving our customers, while ensuring our employees' safety and well-being. Through the [indiscernible] and the strategic action, we adapted to the changing in landscape during COVID and the supply chain challenges, which allows us to continue providing essential products and services to our customers. Alth ...

Senstar Technologies Ltd. (NASDAQ:SNT) Q3 2022 Earnings Conference Call December 22, 2022 10:00 AM ET Company Participants Kim Rogers - Hayden IR Dror Sharon - CEO Tomer Hay - CFO Conference Call Participants Mike Distler - AMX Operator Greetings and welcome to Senstar Technologies' Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being record ...