KUSTNasdaqRadio & Tv Broadcasting & Communications EquipmentUS GAAP · USD

Kustom Entertainment, Inc

Kustom Entertainment, Inc. is a diversified small-cap operating company with three main businesses: video solutions, entertainment, and revenue cycle management. Its video solutions unit sells in-car and body-worn camera systems plus cloud and warranty services, while its entertainment and healthcare services businesses generate revenue from ticketing, live events, and back-office billing support.

Kysy yhtiöstä
Liikevaihto13,8milj. USD
−30,0 %v/v
Liikevoitto (EBIT)−10,9milj. USD
+28,4 %v/v
EBIT-marginaali−79,1%
−1,8 %-yks.v/v
Nettotulos−6,7milj. USD
−119,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−40−2002040milj. USD2020: 11 milj. USD2020: EBIT −7,7 milj. USD20202021: 21 milj. USD2021: EBIT −15 milj. USD20212022: 37 milj. USD2022: EBIT −30 milj. USD20222023: 28 milj. USD2023: EBIT −22 milj. USD20232024: 20 milj. USD2024: EBIT −15 milj. USD20242025: 14 milj. USD2025: EBIT −11 milj. USD202514−11
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Kustom Entertainment, Inc

Liiketoiminta

Osuus liikevaihdosta
Video solutions hardware25 %

In-car and body-worn camera products sold to law enforcement and commercial customers.

Video solutions services20 %

Cloud storage, warranty, repair parts, and related support services tied to the video platform.

Entertainment products30 %

Ticket inventory resale, live event ticketing, merchandise, parking, and concessions.

Entertainment services15 %

Secondary ticketing marketplace fees and other transaction-based entertainment services.

Revenue cycle management10 %

Billing, collections, and back-office services for medium to large healthcare organizations.

Tuotteet

Raportoitu · osuus liikevaihdosta
68,5%31,5%FY2025100 %
  • Services68,5 %
  • Products31,5 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company sells to a mix of public-sector, commercial, consumer, and healthcare customers. Its video solutions business is anchored by state, local, and federal law enforcement agencies, while international sales run through distributors that resell to end users. Entertainment revenue comes from consumers buying tickets and transaction participants on TicketSmarter, and revenue cycle management serves healthcare organizations that outsource billing and collections work.

Law enforcement agencies

Buy in-car and body-worn camera systems and related services for evidence capture and compliance.

International distributors

Purchase video products at wholesale and resell to end users, mainly law enforcement and commercial buyers.

Entertainment consumers and ticket marketplace users

Buy tickets, event inventory, and marketplace services for live events and secondary ticketing.

Healthcare organizations

Buy revenue cycle management and back-office services to improve collections and administrative efficiency.

Commercial customers

Buy video solutions for security, monitoring, and evidence management applications.

Strategia

Management is focused on right-sizing the entertainment and healthcare businesses and improving margins rather than chasing top-line growth. In video solutions, the company is pushing a subscription-based model around cloud evidence storage and management while trying to gain traction for products such as EVO-HD, DVM-800, VuLink, FirstVu Pro, and related offerings.

Move video solutions toward recurring servicesKeskipitkä aikaväli

Subscriptions and cloud storage can improve revenue quality and margins versus one-time hardware sales.

Improve segment profitability through cost cuttingLyhyt aikaväli

The company is prioritizing gross margin and operating efficiency over volume growth in weaker businesses.

Expand adoption of core video productsKeskipitkä aikaväli

Product traction is needed to stabilize the video solutions franchise and support longer-term growth.

Maantiede

The reports do not provide a country-level revenue table, but the business is clearly split between domestic U.S. sales and international distributor sales in the video solutions segment. The entertainment and revenue cycle management businesses are described as serving customers throughout the country, indicating a primarily U.S.-centric operating footprint with some international exposure through distributors.

Riskit

The company remains exposed to going-concern and financing risk because management says it needs additional capital or sustained positive cash flow to fund operations. Business mix risk is also high: entertainment and revenue cycle management have shown volatility, while video solutions depends on adoption by law enforcement and commercial customers and on distributor performance internationally.

Järjestetty vakavuuden mukaan
Going-concern and liquidity pressureKriittinen

Management disclosed recurring losses, operating cash outflows, and the need to raise capital or restore positive cash flow.

Kohdistuu: Company-wide funding and operations

Entertainment segment volatilityKorkea

The segment is being right-sized and revenue fluctuates with event mix, ticket demand, and margin discipline.

Kohdistuu: Entertainment operating segment

Acquisition integration and profitability riskKorkea

Recent acquisitions in revenue cycle management and entertainment require refinement to improve margins and recovery timing.

Kohdistuu: Acquired businesses and goodwill

International distributor credit and execution riskKeskitaso

International sales are made through distributors that hold inventory and receivables, increasing counterparty and collection risk.

Kohdistuu: Video solutions international channel

Customer and end-market concentrationKeskitaso

Video solutions depends heavily on law enforcement agencies, while revenue cycle management depends on healthcare organizations.

Kohdistuu: Segment-level demand concentration

Kysy Clarifolta: Kustom Entertainment, Inc

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Hardware is recognized on shipment, while services and marketplace fees follow different performance obligations and acceptance criteria.

Vaikutus: Affects quarterly revenue mix and comparability across segments

Goodwill and intangible asset impairment

The company recorded impairment charges in revenue cycle management and entertainment after fair value declined.

Vaikutus: Can materially reduce earnings and book value

Warrant derivative liabilities

Outstanding warrants are measured at fair value and can create non-cash earnings volatility.

Vaikutus: Impacts other income/expense and reported net income

Inventory obsolescence and warranty reserves

Video hardware and repair parts require estimates for excess inventory and future warranty claims.

Vaikutus: Affects gross margin and balance sheet carrying values

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Päivitetty: 24.9.2026