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Morning Report: CEO buys as Haivision sets 52-week high February 2, 2024 Today we look at real-time video networking and visual collaboration solutions provider Haivision Systems (HAI). Haivision stock is up 25.5% over the past six months and set a 52-week high of $5.11 on January 23rd. Haivision uses connected cloud and intelligent edge technologies to serve customers in the video networking and streaming market, as well as the broadcast, enterprise, government, and defence industries.
Haivision reported Q4 2023 (ended October 31, 2023) results on January 17th. Revenue was $35.7 million, down from $37.9 million in Q4 2022. Haivision notes that cloud solutions revenue fell by $2.0 million due to its decision to exit the managed services business and also reminded us that Q4 2022 revenue represented a 40% increase from Q4 2021. Gross margin was 74.4% in the quarter, up from 68.0% in Q4 2022 which Haivision attributes in part to its decision to exit the historically lower gross margin managed services business. Net income came in at $0.08 per diluted share, up from a loss of $0.04 in the comparable period.
Despite the stock's recent rally, Chairman and CEO Miroslav Wicha spent $151,358 picking up shares in the public market after Q4 results were announced.
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