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.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaIn-car and body-worn camera products sold to law enforcement and commercial customers.
Cloud storage, warranty, repair parts, and related support services tied to the video platform.
Ticket inventory resale, live event ticketing, merchandise, parking, and concessions.
Secondary ticketing marketplace fees and other transaction-based entertainment services.
Billing, collections, and back-office services for medium to large healthcare organizations.
Tuotteet
Raportoitu · osuus liikevaihdosta- 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.
Buy in-car and body-worn camera systems and related services for evidence capture and compliance.
Purchase video products at wholesale and resell to end users, mainly law enforcement and commercial buyers.
Buy tickets, event inventory, and marketplace services for live events and secondary ticketing.
Buy revenue cycle management and back-office services to improve collections and administrative efficiency.
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.
Subscriptions and cloud storage can improve revenue quality and margins versus one-time hardware sales.
The company is prioritizing gross margin and operating efficiency over volume growth in weaker businesses.
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.
Management disclosed recurring losses, operating cash outflows, and the need to raise capital or restore positive cash flow.
Kohdistuu: Company-wide funding and operations
The segment is being right-sized and revenue fluctuates with event mix, ticket demand, and margin discipline.
Kohdistuu: Entertainment operating segment
Recent acquisitions in revenue cycle management and entertainment require refinement to improve margins and recovery timing.
Kohdistuu: Acquired businesses and goodwill
International sales are made through distributors that hold inventory and receivables, increasing counterparty and collection risk.
Kohdistuu: Video solutions international channel
Video solutions depends heavily on law enforcement agencies, while revenue cycle management depends on healthcare organizations.
Kohdistuu: Segment-level demand concentration
Kirjanpito
Harkinnanvaraiset erätHardware 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
The company recorded impairment charges in revenue cycle management and entertainment after fair value declined.
Vaikutus: Can materially reduce earnings and book value
Outstanding warrants are measured at fair value and can create non-cash earnings volatility.
Vaikutus: Impacts other income/expense and reported net income
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