Napco Security Technologies: Strong Q1 with Record Results

Napco Security Technologies is once again in the spotlight as the company continues to build its financial strength. With an impressive revenue record of $44 million, Napco reported record figures for the 16th consecutive quarter in the first quarter of the fiscal year 2025. Particularly noteworthy was the growth of recurring monthly service revenues, which increased by 22% to $21.1 million and now account for 48% of total revenue. This underscores the company's strategic focus on continuous service revenue. Additionally, Napco impresses with an impressive net cash position of $102 million and debt freedom, providing the company with steady financial momentum. Moreover, the strong demand for Starlink radios proved to be a driving force behind the growth, with a 93% increase compared to the same period last year, playing a significant role in Napco's long-term strategy to further expand recurring revenue streams. While hardware sales decreased by 6% to $22.9 million for various reasons, Napco remains confident that this is a temporary effect. The focus remains on growth opportunities through innovative products, particularly in the areas of wireless fire and intrusion alarm systems, as well as access control systems. Investors and interested parties can learn about the latest developments at Napco during the International Security Conference at the Javits Center, New York. The company places great confidence in continuing to revolutionize its technology and presenting this progress at various investor conferences.