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Haivision Systems Inc.

Haivision Systems Inc.

HAI.TO
Haivision Systems Inc.CA flagToronto Stock Exchange
4.62
CAD
+0.02
- -
126.81MMarket Cap
Haivision Systems Inc.
HAI.TO
(Toronto Stock Exchange)

Recent

price

4.62

P/E

ratio

- -

div

yld

- -

ROIC.AI

2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.13
2.61
2.86
3.21
3.59
4.36
4.83
4.47
4.91
5.16
Revenue per Share
0.09
0.1
0.14
0.22
-0.34
-0.21
-0.04
0.16
- -
0.06
Basic EPS, GAAP
0.06
0.12
0.22
0.53
0.06
-0.21
0.49
0.6
0.25
0.5
Free Cash Flow per Basic Share
- -
- -
- -
- -
0.06
- -
- -
- -
- -
- -
Dividend per Share
0.7
0.8
0.88
1.09
3.37
2.81
2.79
2.85
2.81
2.83
Book Value per Share
0.24
0.34
0.3
0.5
1.6
0.77
1.04
1.34
1.54
1.57
Tangible Book Value per Share
26
26
26
26
26
29
29
29
28
28
Basic Weighted Avg Shares
55
67
74
83
93
126
140
130
138
143
Sales/Revenue/Turnover
1.3
6.63
7.02
9.82
-5.93
-2.27
1.98
4.23
0.39
0.57
Operating Margin (%)
1
1
1
2
3
8
10
10
9
9
Depreciation Expense
2
3
4
6
-9
-6
-1
5
- -
2
Net Income, GAAP
- -
32.43
30.88
25.82
- -
- -
- -
- -
- -
5.76
Effective Tax Rate (%)
4.25
3.82
4.96
6.97
-9.49
-4.93
-0.9
3.63
0.08
1.11
Profit Margin (%)
2
5
5
12
36
17
22
25
25
25
Working Capital
- -
1
- -
6
8
11
9
6
5
4
LT Debt
20
22
24
30
89
90
94
97
98
94
Total Equity
- -
12.27
13.87
18.2
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
12.09
16.19
20.34
- -
- -
- -
- -
- -
1.77
Return on Capital (%)
- -
13.27
16.95
22.77
-15.27
-7.38
-1.56
5.75
0.14
2.04
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Oct'25
Jan'26
Apr'26
ST Debt
5
8
7
LT Borrowings
1
1
1
LT Finance Leases
3
3
3
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
27
27
28
Market Capitalization
144
234
183

Working Capital

FRC

•

in mil. unless spec.
Oct'25
Jan'26
Apr'26
Total Current Assets
64
61
63
Cash, Cash Equivalents & STI
17
17
18
Accounts Receivable, Net
27
26
22
Inventories
13
12
15
Total Current Liabilities
39
36
39
Payables & Accruals
20
15
18
ST Debt
5
8
7
Deferred Revenue
13
14
14

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
41.02%
0.81%
Free Cash Flow
- -
-196.73%
-60.21%
Net Income, GAAP
- -
-185.89%
-97.56%
Sales/Revenue/Turnover
- -
11.46%
6.25%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
35
34
31
30
130
2025
28
34
35
40
138
2026
35
33
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.03
0.01
0.07
0.16
2025
-0.04
-0.08
0.01
0.12
- -
2026
-0.01
-0.07
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Haivision Systems Inc. provides mission-critical real-time video networking and visual collaboration solutions to broadcast, enterprise, public safety, government, and defense organizations worldwide. Founded in 2004 and headquartered in Montreal, Quebec, with key operations in Chicago and offices across the Americas, Europe, and Asia, the company offers video encoding and decoding hardware including the Makito series; software platforms such as Haivision Media Platform for enterprise video with eCDN capabilities, Haivision Hub for cloud-based low-latency media routing on Microsoft Azure, Haivision Connect for end-to-end livestreaming, and SRT Gateway on AWS; video contribution systems like those from AVIwest for cellular networks; digital signage via CoolSign; video wall solutions through subsidiary Haivision MCS (formerly CineMassive); and secure IP video services encompassing the open-source SRT protocol it developed and maintains via the SRT Alliance. Haivision serves enterprises, governments, militaries, and broadcasters in Canada, the United States, and international markets including NATO and Five Eyes countries, with the majority of revenue from the U.S. Recent developments include Haivision MCS securing a US$61.2 million (CAD$82 million) production agreement with the U.S. Navy for next-generation combat visualization systems in fiscal 2025; collaborations such as with Shield AI for AI-enhanced full-motion video in defense applications and Airbus Defense and Space for secure communications technologies; winning the IBC Innovation Award for private 5G video contribution at the Paris 2024 Olympics; ongoing share buybacks totaling about 1.7 million shares under NCIB programs; and strategic shifts like transitioning the CineMassive control-room business to a higher-margin channel-partner model while advancing SRT adoption and cloud services.