IndigoVision shares up 16% as revenue tops $50m

Shares of Edinburgh-based video security company IndigoVision rose about 16% on Thursday after it said its revenue rose 9.2% to $50.2 million in 2019 and it reinstated its dividend with a proposed final payout of 2p per share.

IndigoVision reported pretax profit of $1.3 million compared to a loss of $639,000 in 2018.

IndigoVision CEO Pedro Simoes said: “In 2019 we built on the momentum of 2018 and demonstrated further significant progress by delivering 9% revenue growth and returning the business to profitability.

“We are now strongly positioned, having strengthened our leadership team in the key areas of engineering, product management, marketing and customer care & operations. 

“This investment is ensuring we deliver an improved focus on the customer experience across the whole business.

“Our first acquisition has brought Agora into the business and is opening up exciting opportunities. 

“This platform addresses the human dimension that we feel has been underinvested in by the industry and enhances the traditional end-to-end video security solution.”

According to its website, IndigoVision’s biggest shareholder with 28.17% of shares is Swiss investment fund New Pistoia Income Limited.

IndigoVision has staff in 24 countries with its headquarters in Edinburgh and regional offices in New Jersey, Toronto, Dubai and Sao Paulo.