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VOXX Intl is a little known company catching the attention of investors

Published by

December 5, 2024
(GMT+2)

VOXX Intl is a small company that is grasping the attention of investors today with a massive move following its third quarter earnings report. The company makes automotive electronics and consumer electronics covering such spaces as in-vehicle entertainment, automotive security, reception products, and a number of premium audio market segments. The numbers for NovQ were astonishing: EPS leaped to $0.74 from only $0.10 a year ago while revenue climbed 82.6% yr/yr to $201.1 min.While the two smaller primary segments of VOXX, the Automotive Electronics unit saw profit more than double yr/yr to $61.5 million. While acquisitions account for a large chunk of this growth, its OEM rear-seat entertainment systems and aftermarket security and remote start products were the highlights.In particular, its EVOLVE rear-seat entertainment system with Amazon’s Fire TV has proven very successful, and it’s set to be released in more ORM programs next fiscal year. Its Consumer Electronics segment wasn’t lacking either, with sales surging 74% yr/yr to $139 million, led by premium wireless computer speaker system and premium mobility products.

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