NAPCO Security Technologies(US:NSSC)2025-07-04 13:59Financial Performance - NAPCO achieved record quarterly sales of $50.3 million in FQ4 2024, representing a 13% year-over-year growth[8,60] - Recurring revenue in FQ4 2024 grew by 27% year-over-year to $20.4 million[8,60] - The annual run-rate for recurring revenue is $84 million[8] - Adjusted EBITDA for FQ4 2024 was $15.4 million, an 18% increase year-over-year[60] - FQ4 2024 net income reached a quarterly record of $13.5 million, a 28% increase year-over-year[60] - The company has a strong balance sheet with $97.7 million in cash, marketable securities, and other investments, and no debt[60,65] Market and Growth Drivers - The company estimates the residential security U S market size to grow from $5 billion in 2021 to $9 billion in 2026[16] - The company estimates the commercial security North America market size to grow from $83.5 billion in 2021 to $121.4 billion in 2026[12] - The company estimates the school security market size to grow with a CAGR of 11.3% from 1.5 billion in 2020 to 3.1 billion in 2027[13] Long-Term Goals - The company aims to achieve total revenue of over $300 million in the long term[64] - The company aims to achieve recurring revenue of approximately $150 million, representing around 50% of total revenue in the long term[64]