Haivision Announces Results for the Three Months Ended January 31, 2023.

MONTREAL: Haivision Systems Inc. ("Haivision" or the "Company") (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced its results for the first quarter ended January 31, 2023.

"By delivering record first-quarter revenue, we continue to reaffirm the trust of our core markets in our capability to deliver the most trusted mission-critical live video solutions," said Mirko Wicha, Chairman and CEO of Haivision. "Our solutions are demonstrating unmatched efficiency in reducing costs and creating more content within the broadcast, media, and entertainment segments, while also addressing the pressing needs for remote engagement, situational awareness, and tackling the challenges of global missions, operations and cybersecurity threats within the defense, government, and enterprise sectors."

Q1 2023 Financial Results

Revenue of $34.1 million represents an increase of 20.2% from the prior year comparative period.

Total expenses for the three months ended January 31, 2023 were $23.7 million, an increase of $3.9 million from the prior year comparative period largely related to the acquisition of Aviwest in April 2022 Resulting operating loss was $1.0 million, a $0.9 million decrease from the prior year period.

Adjusted EBITDA for the three months ended January 31, 2023 was $2.1 million compared to $2.1 million for the prior year comparative period.

Adjusted EBITDA Margins for the three months ended January 31, 2023 were 6.2% compared to 7.6% for the prior year comparative period.

Net loss of $1.4 million compared to a net loss of $0.5 million in the prior year comparative period.

Key Company Highlights

Successful deployment of Haivision Pro Series transmitters on 5G private networks for elections in Denmark (TV2), sailing in Spain (Telefonica), and football in Germany (Media Broadcast/Nokia).

TV Technology Magazine selected Haivision Pro Series transmitters (Pro460) "Best in Market 2022" for innovation, feature set, cost efficiency and performance.

Launched Haivision Command 360 for mission critical collaboration to international markets at ISE exhibition in Barcelona.

Launched Haivision Hub for Government, the only FedRAMP video network service to securely stream live video.

SRT Alliance membership surpasses 600 members.

Haivision Makito X4 awarded "Best Encoding Hardware for Live Production" at the 2022 Streaming Media Readers' Choice Awards.

Haivision announced the...