Tag: Richard Soloway
NAPCO’s business model ‘working exactly as intended,’ says CEO
February 4, 2026Cory Harris, Editor
AMITYVILLE, N.Y.—The subscription-focused strategy of NAPCO Security Technologies continues to pay off, with recurring service revenue (RSR) scaling alongside equipment sales to drive record results in the company’s second quarter fiscal year 2026.
During a recent conference call, Chairman and CEO Richard Soloway told analysts that Q2 revenue reached a record $48.2 million, driven by double-digit growth across both RSR and equipment sales, expanding...
NAPCO Security Technologies reports fiscal 2026 Q2 results
February 2, 2026SSN Staff
AMITYVILLE, N.Y.—NAPCO Security Technologies announced financial results for its second quarter of fiscal 2026.
Fiscal Q2 2026 Highlights
Record Q2 net revenues of $48.2 million, a 12.2% YoY increase
Equipment revenue increased 12.0% YoY to $24.3 million
Recurring service revenue (RSR) increased 12.5% YoY to $23.8 million with a 90.2% gross margin
RSR had a prospective annual run rate of approximately $99 million based on January 2026 recurring...
NAPCO leans on recurring services to jolt revenues
November 11, 2025Cory Harris, Editor
AMITYVILLE, N.Y.—NAPCO Security Technologies Chairman and CEO Richard Soloway highlighted the strength of NAPCO’s recurring revenue model and its resilience amid macroeconomic challenges during its recent Q1 2026 earnings call.
Financial results for the first quarter of 2026 saw NAPCO report record net revenues of $49.2 million - a 11.7% YoY increase – and recurring service revenue (RSR) of $23.4 million – a 1.1% YoY increase with a 90% gross margin.
“Our...
NAPCO reports fiscal Q1 results
November 3, 2025SSN Staff
AMITYVILLE, N.Y. — NAPCO Security Technologies has announced the financial results for its first quarter of fiscal 2026.
Richard Soloway, chairman and CEO, commented, "With the completion of the first quarter of fiscal 2026, we experienced year-over-year double-digit growth in both our equipment and service revenue. Strong demand for our door-locking products has driven the growth in our equipment revenue and improved equipment gross margins, and our RSR continues to see growth quarter...
NAPCO delivers solid FY25 performance with 10% RSR growth and strategic tariff response
August 27, 2025Cory Harris, Editor
AMITYVILLE, N.Y.—NAPCO Security Technologies Chairman and CEO Richard Soloway credits his company’s ability to focus on its long-term strategy amidst “a fair share of headwinds” for its strong Q4 and full-year 2025.
Soloway told investors during NAPCO’s earnings call that even through microeconomic uncertainty and tariff-related pressures over the past year, the company continued to deliver best-in-class solutions, maintain operational discipline and invest...
NAPCO reports resilient FY25 with strong RSR growth and solid margins
August 25, 2025SSN Staff
AMITYVILLE, N.Y.—NAPCO Security Technologies demonstrated resilience amid industry headwinds in reporting its fiscal year Q4 and full-year 2025 results.
NAPCO closed the year with strong recurring service revenue (RSR) growth and solid profitability, with the company’s RSR surging 14% to $86.3 million, representing nearly half of total revenue and boasting a 91% gross margin. Net sales of $50.7 million for Q4 increased 1% year-over-year, while total net full-year sales...
NAPCO overcomes ‘external challenges,’ posts strong RSR numbers
May 28, 2025Cory Harris, Editor
AMITYVILLE, N.Y.—Even with U.S.-imposed tariffs leading to increased equipment prices in Q3, NAPCO Security Technologies Chairman and CEO Richard Soloway assured investors during a recent conference call that his company is well-positioned to withstand turbulence thanks in part to growing recurring service revenue.
RSR increased by 10.6% to $21.6 million in Q3, representing 49% of total company revenues with a 91% gross margin.
“While fiscal Q3 brought external...
NAPCO’s Q2 a mixed bag
February 5, 2025Ken Showers, Managing Editor
AMITYVILLE, N.Y. — NAPCO Security Technologies' financial results for the second quarter of fiscal 2025 revealed a healthy recurring service revenue (RSR) but also several setbacks due to bad timing.
The company’s financial results at a glance: Net sales of $43 million, a decrease of 9.7% year over year; and RSR of $21.2 million, a 14.4% increase, and gross profit margin of 57% vs. 52.6%, both compared to the prior quarter.
“This quarter yielded mixed...
NAPCO’s radio gains make up for lagging lock sales
November 5, 2024Ken Showers, Managing Editor
AMITYVILLE, N.Y.— NAPCO Security Technologies saw strong radio sales and recurring service revenue (RSR) but struggling locking sales in the first quarter of its fiscal year 2025.
RSR saw a prospective annual run rate of approximately $85.2 million based on October 2024 RSR, compared to $83.5 million from July 2024 RSR.
“The increase is due to the continued strength of our line of StarLink radios, particularly our StarLink fire radios,” said CFO Kevin Buchel during...
NAPCO reports ‘amazing’ results
August 28, 2024Ken Showers, Managing Editor
AMITYVILLE, N.Y. — NAPCO Security Technologies' fourth quarter financial results got a nice boost from recurring service revenue (RSR) and its Alarm Lock and Marks lines.
The company reported RSR increased 27% to $20.3 million in the fourth quarter and 26% to $75.7 million for the year compared to the same periods the previous year. It reported gross margin for RSR increased to 90.4% and 90.5% for the quarter and the year, respectively, compared to 89% and 89%.
“Our...