Summary of What Iveda Solutions, Inc. Does

Company Overview

• Type: Technology company providing smart city and security solutions
• Headquarters: Domiciled in Delaware, with principal offices in Mesa, Arizona and Taipei, Taiwan
• Incorporation: Originally incorporated in Nevada (June 2006), redomiciled as a Delaware corp in March 2025
• Stock Listing: Listed on NASDAQ with ticker IVDA
• Employees:
  • 7 full-time employees in the US
  • 25 full-time employees in Taiwan

Core Business Activities

• Focus: Development and deployment of AI-driven video surveillance and IoT (Internet of Things) platforms for smart cities and commercial clients worldwide
• Main Revenue Constituents:
  • Primarily from its Taiwan subsidiary (Iveda Taiwan), which accounts for over 85% of total revenue
  • US operations contribute a smaller portion (~7-8%)

Products & Technologies

• AI Video Analytics:
  • Product: IvedaAI — deep-learning software capable of real-time object, face, license plate, and event recognition
  • Key Functions: Object search, face recognition, license plate recognition (100+ countries), intrusion, weapon, fire detection, people & vehicle counting, temperature, facemask detection, QR/barcode detection
  • Features: Live camera view, real-time alerts, heatmaps, abnormality detection (e.g., loitering, wrong direction)
• IoT Sensors & Devices:
  • Smart sensors for energy, environment, entry, water, and health monitoring
  • Smart power controls (lighting, water meters, smart payment systems)
  • Gateways & stations with Zigbee, WiFi, Bluetooth, and USB connectivity
• Central Management Software: Cerebro — system-agnostic platform that unifies controls for energy, security, and safety devices and subsystems across a city or organization
• Smart City Infrastructure:
  • Utilus: smart pole solutions leveraging existing light poles for power and Internet; supports traffic, safety, air quality, and data analytics
  • Smart Utility Cabinet: monitors energy, water, gas; detects abnormalities
  • Vemo Body Camera: live video streaming, walkie-talkie, and emergency response capabilities
  • Smart Drones: autonomous, AI-enabled surveillance and inspection drones (weather resistant IP54, thermal and IR cameras)
• Additional Offerings:
  • Smart UVC: ultraviolet germicidal air sterilization integrating UV lights with HVAC systems
  • Smart Power & IoT Platforms: for organizations, cities, and large facilities
  • Smart Sensors & Trackers: for elderly health, safety, and elder care
  • Liquid Level Monitoring: LevelNOW — IoT solution for industrial fluid containers

Customer Base

• Majority Customer & Revenue Source:
  • Iveda Taiwan is the primary revenue generator (93% in 2024, and 71-87% in previous years)
  • Key customers in Taiwan include public safety and corporate entities like Chunghwa Telecom, Taiwan Stock Exchange, New Taipei City Police, Chicony Power, Taiwan Energy Systems
• Number of Customers:
  • Total customers: approximately 70 in 2024, 65 in 2023
  • Notable concentration:
    • 67% of total 2024 revenue from 5 customers
    • 48% of 2023 revenue from 2 customers
    • Accounts receivable heavily concentrated: 52% from Chunghwa Telecom
• Business Model:
  • Hardware sales combined with licensing software to service providers such as telecommunications, security, and technology resellers
  • Licensing and subscription revenues from IoT platform Cerebro and AI analytics

Revenue & Financials

• 2024 Revenue: Approximately $6.0 million
• 2023 Revenue: Approximately $6.5 million
  • Slight decrease (~7%) mainly due to delays in large equipment contracts
• Income (Net Loss):
  • 2024: approximately $4.0 million net loss
  • 2023: approximately $4.1 million net loss
  • The company has incurred significant losses since inception, with nearly $53 million in total accumulated deficit
• Gross Margin (2024): 22%, with costs of revenue at 78% of revenue
• Operating Expenses (2024): approx. $5.4 million, increased slightly from 2023
• Cash & Cash Equivalents:
  • $1.6 million in the US
  • $1.0 million in Taiwan
  • Total cash decreased from $4.9 million in 2023 mainly due to operating cash outflows

Summary Points

• Iveda is a provider of advanced AI-powered video surveillance and IoT platforms aimed at smart city deployments
• It leverages partnerships with telecoms and service providers for hardware and platform licensing
• The company heavily relies on its Taiwan subsidiary for revenue
• It operates with a small team but is expanding R&D activities, particularly around its Cerebro IoT platform
• It faces financial challenges with ongoing losses and limited liquidity but has manageable debt and cash reserves for now