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CONTROL4 CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2019 10-Q, filed May 10, 2019. Its latest SEC filing is a 15-12B from Aug 12, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Sells professionally installed automation systems that connect entertainment, lighting and security devices for homeowners and small businesses.

How Did They Make Money?

Dealers, distributors and retailers buy automation products with embedded software, and Control4 earns that product revenue when the goods ship. Consumers also pay for 4Sight, a subscription for remote monitoring and control and dealer diagnostics, with subscription revenue earned over the contract term.

FY2018 revenue

Who Were Their Customers?

Homeowners and small businesses buy customized systems through independent dealers; in some markets, distributors supply dealers, and retailers are another sales channel.

Did Revenues Turn Into Profits?

Yes. It kept 16 cents of every revenue dollar as net income in FY2018 and turned 11 cents into free cash flow.

Operating income, FY2018
8% of revenue
▲ +56% vs FY2017 ($13.6M, 6%)
Net income, FY2018
16% of revenue
▲ +184% vs FY2017 ($15.5M, 6%)
Free cash flow, FY2018
11% of revenue
▲ +22% vs FY2017 ($23.5M, 10%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q1 FY2019, the three months to Mar 31, 2019
Revenue
▲ +2%
vs $59.1M in Q1 FY2018
Net income
▼ Now a loss
vs $966K in Q1 FY2018
  • Aug 1, 2019 Control4 completed its merger with SnapAV Control4 became a professional smart-home brand in the combined company, while SnapAV CEO John Heyman leads the merged teams.
  • May 9, 2019 Control4 agreed to merge with Wirepath Home Systems The agreement offered stockholders $23.91 in cash for each share, subject to closing conditions.

Grew. Revenue grew 83% in 4 years, from $148.8M in FY2014 to $272.5M in FY2018, about 16% a year.

Who Did They Compete With?

Competes with Crestron, Elan, Lutron, Savant, SnapAV, Logitech, Luxul, Ruckus, Sonance, Sonos, Universal Remote Control, ADT, AT&T, Comcast, Vivint, Alarm.com, Amazon, Apple, Google, and Samsung

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