Intelligent Monitoring Group Ltd (ASX:IMB) Share Price and News
Key Statistics
Introduction to Intelligent Monitoring Group (ASX: IMB)
Intelligent Monitoring Group (ASX:IMB) is Australasia’s largest independent security monitoring provider. It provides high-graded monitored security as well as fire and Internet of Things (IoT) solutions, ensuring the safety and protection of over 180,000 businesses, home and individuals.
It has several competitive strengths including its high-quality products, an extensive and diverse customer base that includes sticky customers, a strong reseller/wholesale network, as well as a track record of growth both organically and through acquisitions.
Intelligent Monitoring’s History
IMB’s journey, started in 1993 as Alarm & Video Monitoring Centre, and listed on the ASX in August 2015 through a reverse takeover. For the first 6 years of its listed life, it was known as Threat Protect Australia after its then flagship brand, but renamed in 2021.
The ADT acquisition in 2023 was a key step for the company for three reasons. First, it took the company from being the 3rd largest independent monitoring services provider to the first. It added 340 staff members, A$95m in revenue and over 100,000 monitored security lines to the company. Second, it added a DIY home security solution to the company’s portfolio. Third, it gave the company flexibility to refinance its debt.
FIntelligent Monitoring Group’s Future Outlook
Intelligent Monitoring Group’s future seems promising given the contribution ADT will make. The company is set to record over $130m in revenue and reduce its debt cover from 2.2x EBITDA to 1.5x EBITDA.
It is in a defensive sector, the security sector, with sticky customers. There are several tailwinds in the industry, especially the adoption of DIY products. Australia is underpenetrated in this regard compared to other advanced economics, and we think it will catch up.
Is Intelligent Monitoring Group (ASX: IMB) a Good Stock to Buy?
Investing in Intelligent Monitoring Group appears intriguing, considering its industry, the company’s dominant position and the tailwinds facing it.
Nonetheless, it is not yet profitable on an NPAT basis and does not pay dividends, so it comes with some risk for all investors.
Our Stock Analysis
Frequently Asked Questions
What does Intelligent Monitoring Group specialize in?Intelligent Monitoring Group offers cutting-edge monitored security and Internet of Things (IoT) solutions.
When was Intelligent Monitoring Group established, and where is it based?IMB was established in 1993 and is headquartered in Brisbane, Australia. Over the years, it has grown into a leading security provider, operating extensively across Australia and New Zealand.
What range of products does IMB offer?IMB provides a diverse array of products, including alarm systems, CCTV, access control, fire detection systems for security purposes, and IoT solutions like smart lighting and thermostats. They cater to both residential and commercial clients.
What are the key strengths of Intelligent Monitoring Group?IMB’s strengths lie in its top industry position, going from the 3rd largest provider to the 1st after buying ADT. It offers a diverse range products, including DIY solutions.