Growth, business-unit performance, operations, customers and strategic signals across the Pavion platform.
Revenue of $8900M is growing 18.0%, but the equity re-rate hinges on revenue quality: recurring mix sits at 5% against the 45% target. Convert the $210M weighted pipeline and $163M of cross-sell whitespace into annuity revenue.
8 of 8 headline metrics improving vs prior · still off target: Revenue $8.90B vs $9.50B, EBITDA Margin 21.4% vs 22.0%, Annual Recurring Revenue $410M vs $500M
Lifting recurring mix from 5% to 45% reframes ≈ $3596M of revenue as higher-multiple annuity — the swing that re-rates the platform.
Accelerate ISC ERP/SOC cutover; rebalance project mix toward recurring.
Asia GM 200bps below plan amid RFI/ISC integration drag.
Retail Segment — multi-region DC security + Legrand Data Center Infrastructure Management (Security + Monitoring) carries $141.72M at 60% — the largest single mover in the $210M weighted book.
Prioritize solution design; align certified-tech coverage in new metros.
News signal converted to qualified, credit-cleared multi-region pursuit.
Monthly revenue (bars) and adjusted EBITDA (line), $M.
Weighted pursuits — signal-driven items sourced from news/EDGAR adapters.
| Opportunity | Solution | Stage | Prob. | Value |
|---|---|---|---|---|
| signalRetail Segment — multi-region DC security + Legrand Data Center Infrastructure Management | Security + Monitoring | Proposal | 60% | $141.72M |
| signalLimoges Plant — hub perimeter + video analytics | Security | Qualify | 45% | $95.24M |
| Kaiser — nurse call + RTLS refresh | Integration | Proposal | 50% | $70.29M |
| UPS — fire + mass notification bundle | Fire Safety | Qualify | 40% | $53.29M |
| signalAlign — mfg expansion AV + access | Integration + Security | Develop | 48% | $35.15M |
| signalNorth America Operations — Security cross-sell (11 sites) | Security + Legrand Data Center Infrastructure Management | Develop | 55% | $15.87M |
News + EDGAR adapter feed linked to accounts, suppliers and competitors.
| Source | Signal | Entity | Type | Materiality | Implication |
|---|---|---|---|---|---|
| News | Retail Segment announces new US cloud regions | Retail Segment | Expansion | High | → multi-region DC security opportunity |
| EDGAR | Limoges Plant 10-K: elevated hub-automation capex | Limoges Plant | Capex | High | → perimeter + analytics pull-through |
| News | North America Operations expanding data-center footprint | North America Operations | NewFacility | Medium | → cross-sell 11 fire-only sites |
| EDGAR | Netatmo IoT Assets filings show continued store closures | Netatmo IoT Assets | Distress | Medium | → churn + credit watch |
| News | Hanwha flags component lead-time pressure | Oracle SCM | Supply | Medium | → supplier risk, dual-source 2 SKUs |
| News | Competitor acquires regional fire integrator | Competitor | M&A | Medium | → defend Asia accounts |
Fire Safety · Security · Integration.
High-growth segment focused on datacenter electrical and digital infrastructure, including cooling and connectivity.
Consumer and professional electrical products distributed via retail and wholesale channels globally.
Smart home, building automation, and connected device platforms, including Netatmo and related solutions.
Installed-base health, SLAs and code compliance across the monitored estate.
Top accounts with value, retention, score and untapped cross-sell.
| Account | Tier | Industry | Revenue | ARR | NRR | Whitespace | Score | Churn |
|---|---|---|---|---|---|---|---|---|
| Limoges Plant | Global | Education | $210.88M | $49.89M | 108% | $23.81M | 89 | Low |
| Retail Segment | Global | Commercial Buildings | $182.54M | $58.96M | 119% | $36.28M | 92 | Low |
| North America Operations | Global | Industrial Facilities | $160.99M | $35.15M | 112% | $15.87M | 87 | Low |
| Data Center Segment | Global | Data Centers | $146.25M | $43.08M | 104% | $20.41M | 81 | Medium |
| UPS | National | Education | $128.11M | $32.88M | 106% | $18.14M | 84 | Low |
| IBM | Global | Commercial Buildings | $109.97M | $29.48M | 101% | $12.47M | 78 | Medium |
| Group Legrand India | National | Data Centers | $81.63M | $21.54M | 105% | $14.74M | 79 | Medium |
| Netatmo IoT Assets | National | Retail | $72.56M | $19.27M | 97% | $6.8M | 64 | High |
| BTicino International | National | Commercial Buildings | $65.76M | $23.81M | 110% | $10.2M | 86 | Low |
| Regional Operations | National | Residential Construction | $46.48M | $13.61M | 100% | $4.54M | 72 | Medium |