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Haivision Systems Inc. (HAI.TO)

CAD4.62 +0.03 (+0.65%)
CA TSX Technology Software - Infrastructure
Address 2600 Alfred-Nobel Boulevard H4S 0A9
Montreal, QC, CA
CEO Miroslav Wicha
IPO 2020-12-16
ISIN CA40531F1009

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Also trades on Other OTC · HAIVF (USD) Toronto Stock Exchange · HAI.TO (CAD)
Description

Haivision Systems Inc. provides specialized infrastructure solutions on a global scale. Their extensive product portfolio includes the Makito Series, meticulously designed for encoding and decoding 4K/UHD HEVC and H.264 video, enabling low-latency, end-to-end IP streaming essential for live and interactive applications. The KB Series offers a robust software encoder and transcoder, ensuring high-quality video streams up to 4K/UHD. For tactical live video requirements, Kraken functions as a software-based encoder and transcoder, adept at navigating different networks to feed enterprise distribution systems with both high and low latency streams. The Haivision Media Platform is a software solution dedicated to efficient, low-latency live video distribution. Critical command and control environments benefit from the Haivision/CineMassive CineNet software platform, which enhances situational awareness and facilitates real-time decision-making. Managing geographically dispersed edge devices is simplified by the Haivision Element Management System, a cloud-based software that offers a centralized web-based graphical user interface. To securely route live video across various IP networks, they provide the hybrid software Haivision SRT Gateway. Their cloud services also encompass Haivision Hub, for low-latency live media routing over the Microsoft Azure network, and Haivision Connect, a Software-as-a-Service platform for delivering live and on-demand content to video portals and websites. Haivision Connect DVR is a specialized cloud service engineered to connect multi-site religious organizations. Additionally, Haivision developed the SRT Streaming Protocol, optimizing streaming performance even on unpredictable networks. The company also offers solutions for video playback and display, along with general online streaming services. Their diverse clientele spans the broadcast, enterprise, government, house of worship, medical, and military/defense sectors. Incorporated in 2004 as Hajtek Vision Inc., the company adopted its current name, Haivision Systems Inc., in June of that year. Its corporate headquarters are located in Montreal, Canada.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CAD4.62 +0.03 (+0.65%)
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Volume Profile
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Liquidity & share structure
Average Volume
82.4K
Beta
1.03
Float Shares
18.39M
Free Float %
66.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-25.04% -26.42% -27.39% -57.69% -19.27% -16.03% -6.38% +8.64% -48.36% -43.37% -43.37%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
4.62
DCF (Unlevered) 9.21 +99.4%
DCF (Levered) 10.67 +130.9%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 4 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.72
Grey zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
4 / 10
Developing
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
5 / 5
High
ROE Score
2 / 5
Medium
ROA Score
3 / 5
Medium
D/E Score
3 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Software - Infrastructure: +13.7%
    +6.3% Q2'26: -5.1% (vs Q2'25)
  • EPS growth Software - Infrastructure: +28.7%
    -97.6% Q2'26: +22.3% (vs Q2'25)
  • FCF margin FCF growth · Software - Infrastructure: +32.2%
    +6.6% Q2'26: +4.9% (vs Q2'25)
  • EBIT margin Software - Infrastructure: +8.8%
    -0.7% Q2'26: -9.7% (vs Q2'25)
  • ROIC Software - Infrastructure: +6.6%
    -1.0% Q2'26: -8.7% (vs Q2'25)
  • Share dilution Software - Infrastructure: +0.0%
    +0.6% Q2'26: -2.2% (vs Q2'25)
  • Debt / EBITDA Net debt/EBITDA · Software - Infrastructure: -1.06×
    1.27× Q2'26: -2.63× (vs Q2'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.03) × ERP
WACC = 93% × Ke + 7% × Kd (10.9%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 9.34 Current price: 4.62
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Oct 2020
actual
Oct 2021
actual
Oct 2022
actual
Oct 2023
actual
Oct 2024
actual
Oct 2025
actual
Oct 2026
4 Rev. Ana.
3 EPS Ana.
Oct 2027
4 Rev. Ana.
3 EPS Ana.
Oct 2028
1 Rev. Ana.
1 EPS Ana.
Revenue
83.11M
est: 82.07M (+1.3%)
92.59M
est: 95.17M (-2.7%)
125.70M
est: 122.52M (+2.6%)
139.86M
est: 139.43M (+0.3%)
129.54M
est: 134.86M (-3.9%)
137.64M
est: 133.19M (+3.3%)
144.99M
142.36M – 152.10M
+8.9% YoY
163.55M
150.80M – 169.38M
+12.8% YoY
190.55M
190.55M – 190.55M
+16.5% YoY
EBITDA
9.90M
est: 5.12M (+93.4%)
-2.67M
est: 5.93M (-145.0%)
3.06M
est: 7.64M (-60.0%)
11.07M
est: 24.93M (-55.6%)
15.30M
est: 24.11M (-36.6%)
7.89M
est: 23.81M (-66.9%)
25.92M
25.45M – 27.19M
+8.9% YoY
29.24M
26.96M – 30.28M
+12.8% YoY
34.07M
34.07M – 34.07M
+16.5% YoY
EBIT
8.16M
est: 827.7K (+885.8%)
-5.41M
est: 959.8K (-663.8%)
-5.18M
est: 1.24M (-518.9%)
1.23M
est: 11.43M (-89.2%)
5.58M
est: 11.05M (-49.5%)
-930.3K
est: 10.92M (-108.5%)
11.89M
11.67M – 12.47M
+8.9% YoY
13.41M
12.36M – 13.88M
+12.8% YoY
15.62M
15.62M – 15.62M
+16.5% YoY
Net Income
5.80M
-8.78M
est: -450.3K (-1,850.6%)
-6.19M
est: -5.85M (-5.8%)
-1.27M
est: 4.02M (-131.5%)
4.70M
est: 5.01M (-6.2%)
114.6K
est: -2.23M (+105.1%)
3.20M
2.29M – 3.57M
+243.4% YoY
12.87M
8.62M – 13.94M
+302.4% YoY
24.73M
22.03M – 24.84M
+92.2% YoY
SGA
31.23M
est: 33.19M (-5.9%)
50.69M
est: 38.49M (+31.7%)
47.50M
est: 49.55M (-4.1%)
51.38M
est: 56.11M (-8.4%)
45.80M
est: 54.28M (-15.6%)
50.37M
est: 53.60M (-6.0%)
58.35M
57.29M – 61.22M
+8.9% YoY
65.82M
60.69M – 68.17M
+12.8% YoY
76.69M
76.69M – 76.69M
+16.5% YoY
EPS
0.25
-0.31
est: -0.02 (-1,966.7%)
-0.21
est: -0.20 (-7.7%)
-0.04
est: 0.13 (-132.7%)
0.16
est: 0.17 (-4.0%)
0.00
est: -0.07 (+105.5%)
0.09
0.08 – 0.12
+221.3% YoY
0.35
0.29 – 0.46
+291.7% YoY
0.78
0.73 – 0.82
+121.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-06-11 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-10 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-09 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-08 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-05 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-04 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-03 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-02 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-06-01 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-28 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-27 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-26 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-25 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-22 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-21 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-20 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-19 B+ 3/5 5/5 3/5 3/5 3/5 1/5 3/5
2026-05-15 B 3/5 4/5 3/5 3/5 3/5 1/5 3/5
2026-05-14 B+ 3/5 5/5 3/5 3/5 3/5 1/5 3/5
2026-05-13 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-12 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-05-11 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-05-08 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-07 B 3/5 5/5 2/5 3/5 3/5 1/5 3/5
2026-05-06 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-05-05 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-05-04 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-05-01 B 3/5 4/5 2/5 3/5 3/5 1/5 4/5
2026-04-30 B 3/5 4/5 2/5 3/5 3/5 1/5 4/5
2026-04-29 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-04-28 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-04-27 B 3/5 4/5 2/5 3/5 3/5 1/5 3/5
2026-04-24 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5
2026-04-23 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5
2026-04-22 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5
2026-04-21 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5
2026-04-20 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5
2026-04-17 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5
2026-04-16 B- 3/5 4/5 2/5 3/5 2/5 1/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
9.34M
OE per share TTM
0.30
Owner's Yield
7.65%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
7.2%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 4 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Dimensional - International Small Cap ETF DFIS 0.00% 125.7K 0.39%
2 Dimensional - International Core Equity 2 ETF DFIC 0.00% 73.0K 0.22%
3 Dimensional - International Small Cap Value ETF DISV 0.00% 23.5K 0.42%
4 Dimensional World ex U.S. Core Equity 2 ETF DFAX 0.00% 34.3K 0.28%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
-2.5K
Shares Outstanding
27.50M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Miroslav Wicha Chairman, President & Chief Executive Officer 1M male
Dan Rabinowitz CFO, Secretary & EVP 897.1K male
Jean-Marc Maurice Andre Racine Chief Product Officer & EVice President Broadcast 797.9K male
Peter Maag Chief Strategy Officer & Executive Vice President of Strategic Partnerships 510.0K male
Jean-Phiippe Demers Chief Operating Officer 403.8K male
Steve Brousseau Senior Vice President, Customer Success of Customer Success
Jesús Oliva EVP Mission & Chief Innovation Officer male
Marcus Schioler Vice President of Marketing male
Ronan Poullaouec Senior Vice President Engineering of Broadcast male
Brian Henry President of MCS male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits