Certified Showroom Program, Other Initiatives, Drive Record Revenue for Control4
To say that its third quarter of fiscal 2018 was a strong one would be a pretty pitiful understatement for Control4. The company recently held a call with analysts to go over the results of Q3 2018, which saw a record $71.6 million in revenue—11 percent growth on a year-over-year basis. That figure landed in the middle of the company’s guidance range it delivered during its last earnings report.
“We are pleased with our performance in the past quarters and are continuing our focus to drive growth and execute on our strategies to be the preferred choice for home automation,” Martin Plaehn, chairman and chief executive officer of Control4, said in a statement announcing the company’s Q3 results.
In the call with analysts, Plaehn pointed to a few of home automation manufacturer’s recent business and product development programs as the key drivers for growth during the quarter. In particular, he noted, the company’s Certified Showroom program has been a roaring success, helping drive foot traffic into the 162 participating dealers’ showrooms and sales of the company’s solutions.
“Feedback from these dealers confirms our thesis that these showrooms provide a compelling environment for engaging prospective customers,” Plaehn said. “Combined with other marketing services we provide on behalf of our dealers, we believe the showroom program will help drive expanded awareness of the orchestrated Control4 smart living experience among consumers and provide a destination to attract and build relationships with production builders, designers and architects.”
The company plans to continue to hold regional and global consumer events with those certified showroom dealers. Further, Plaehn said, Control4 has a growing pipeline of dealers who’ve expressed interest in becoming certified, which only further validates their efforts to have developed the program in the first place. “We intend to continue expanding our on behalf of marketing services to drive Control4 smart home awareness and interested homeowners, designers and architects to visit our dealers showroom,” he said.
Other initiatives that Plaehn touched on include the launch of Control4’s new EA controllers at CEDIA 2018, deepening their Alexa integration, they’re work with regional production homebuilders to use the Control4 platform in new home builds, and the expansion of the company’s connective home partner ecosystem through licensing and adoption of their device discovery protocol technology.
“We believe sustaining focus on these initiatives will enable Control4 to continue delivering increase and long-term shareholder value by strengthening Control4 as the premium and preferred choice for homeowners and their families, custom and production homebuilders, independent connected home integrators and consumer electronic partners within the expanding Control4 ecosystem,” Plaehn said. “We are pleased with the first three quarters of 2018 and we look forward to finishing strong in 2018 and caring that momentum into 2019.”