Iveda Solutions, Inc.

IVDA

$0.28

-2.44%

N/A-$0.01

Industrials

Security & Protection Services

NASDAQ

Active Trading

Iveda Solutions, Inc. specializes in cutting-edge artificial intelligence (AI) and digital transformation solutions, serving clients across the United States and Taiwan. Its ...

Fundamental Analysis of IVDA

Key Strengths

Integrated AI video, analytics, and search capabilities (IvedaAI) can be attractive for deployments requiring fast retrieval and actionable insights

Broader smart-city/IoT product portfolio (video surveillance, pin-pointing/location mapping, IoT gateways, sensors) supports cross-sell opportunities within security/safety projects

Risk Factors

Persistent and substantial losses: net margin ~-69.2%, operating margin ~-68.5%, and deeply negative EBITDA margin (~-65.8%) indicate limited operating leverage

Negative returns and weak capital efficiency (ROE ~-63.9%, ROA ~-45.3%), consistent with ongoing value erosion

Profitability

Net Margin-69.24%

Operating Margin-68.54%

Valuation

P/E Ratio-0.34x

Current Ratio5.19

Efficiency

ROE-63.91%

ROA-45.33%

Fundamental Analysis of IVDA

Iveda Solutions, Inc. (NASDAQ: IVDA) is a small-cap developer of AI video analytics and related smart-city/IoT solutions, including an AI video platform, location/pinning solutions, adaptive surveillance offerings, and an integration platform for managing connected systems. The business is positioned in security, safety, and infrastructure modernization across the U.S. and Taiwan. While the technology platform and product breadth can be meaningful for winning customer deployments, the current fundamentals show a company that is still in a loss-making execution phase. From the provided trailing-twelve-month (TTM) metrics, profitability is deeply negative. Net margin is about -69.2%, operating margin about -68.5%, and EBIT margin about -66.1%. EBITDA margin is also strongly negative (-65.8%), indicating that losses are not explained only by non-cash items. Returns are correspondingly weak: ROE is approximately -63.9% and ROA about -45.3%, and invested-capital/ROIC-style measures are negative as well. This profile implies that the company has not yet reached scale or operating leverage to consistently convert revenue into earnings. Valuation ratios are difficult to interpret cleanly because earnings are negative (P/E is shown as negative). Even so, price-to-book is relatively low (~0.74) and price-to-sales is modest (~0.85), suggesting the market is not pricing the firm as a mature, highly profitable business. However, free cash flow appears materially negative: free cash flow yield is shown as deeply negative and cash-flow coverage ratios are unfavorable. Balance-sheet liquidity looks comparatively strong: current ratio ~5.19 and quick ratio ~5.00, with modest debt (debt-to-equity ~0.14). These factors reduce near-term solvency stress, but they do not solve the core issue of ongoing operating losses. Overall, consensus sentiment for early-stage AI/security/IoT integrators is typically cautious when losses persist. Based on the combination of (1) significant and persistent margin compression into negative profitability, (2) negative cash-flow indicators, and (3) small-cap execution/geopolitical/cybersecurity risks, the stock currently reflects high uncertainty. For long-term investors, the key question is whether IVDA can convert customer wins into sustained recurring revenue with improved gross/operating leverage; at present, the fundamentals do not yet demonstrate that transition.

Key Strengths of IVDA

Integrated AI video, analytics, and search capabilities (IvedaAI) can be attractive for deployments requiring fast retrieval and actionable insights
Broader smart-city/IoT product portfolio (video surveillance, pin-pointing/location mapping, IoT gateways, sensors) supports cross-sell opportunities within security/safety projects
Technology platform flexibility and compatibility (e.g., ONVIF ecosystem positioning cited in third-party materials) may help reduce integration friction for customers
Strong liquidity indicators (current ratio ~5.19; quick ratio ~5.00) relative to debt levels provide some balance-sheet resilience
Meaningful gross margin reported at ~32.2%, suggesting some gross-profit capability even while operating leverage remains insufficient
Product/application positioning aligned to structural demand drivers (smart cities, infrastructure modernization, security and safety) across U.S. and Taiwan

Risk Factors of IVDA

Persistent and substantial losses: net margin ~-69.2%, operating margin ~-68.5%, and deeply negative EBITDA margin (~-65.8%) indicate limited operating leverage
Negative returns and weak capital efficiency (ROE ~-63.9%, ROA ~-45.3%), consistent with ongoing value erosion
Negative free cash flow and poor cash-flow coverage metrics increase dependence on continued funding, working-capital swings, or improved operating cash generation
Small-cap concentration and execution risk: customer wins, churn, contract timing, and project-based revenue can create volatility
Geopolitical exposure related to Taiwan operations could affect demand, supply chains, staffing, and cross-border business continuity
Cybersecurity and data/privacy risks are elevated for video analytics/surveillance platforms and connected-device ecosystems
Limited visibility into recent financial statements (income statement/balance sheet/cash flow not provided here) raises uncertainty around trend durability versus TTM noise

Market Cap vs Revenue & Earnings

Earnings

n/a

Revenue

n/a

Market cap

$3.28M

-0.3x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Last Reportedn/a

Earnings per share (EPS)n/a

Gross Margin32.22%

Net Profit Margin-69.24%

Debt/Equity Ratio0.14

Profitability Bridge (Current vs YoY)

How gross, operating and net margins shifted versus last year.

Revenue / Net Income / FCF History (USD B)

Growth Signals of IVDA

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Revenue	—	—	—	—	Flat
Diluted EPS	—	—	—	—	Flat
Free Cash Flow	—	—	—	—	Flat

Profitability of IVDA

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Net Margin	—	-98.96%	—	—	Flat
Operating Margin	—	-88.56%	—	—	Flat
ROE	—	—	—	—	Flat

Financial Health of IVDA

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Current Ratio	—	5.192	—	—	Flat
Quick Ratio	—	5.004	—	—	Flat
Debt / Equity	—	0.144	—	—	Flat

Valuation of IVDA

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
P/E	—	-1.17x	—	—	Flat
P/B	—	0.72x	—	—	Flat

Supply Chain of IVDA

RELATIONS

Upstream

Taiwan-Based ODM/OEM Camera Manufacturers (Unnamed)IoT Sensor Component Manufacturers (Unnamed)ONVIF-Compliant IP Camera Vendors (Ecosystem)Semiconductor / AI Chip Suppliers (Unnamed)Cloud Infrastructure Provider (Unspecified — AWS / Azure / GCP)Iveda Taiwan (Sole-Vision Technologies, Inc., fka MEGAsys)NASDAQ:IVDAZeroTech (Egypt)Arab Organization for Industrialization (AOI)NetGain Systems

Downstream

Chunghwa Telecom Co., Ltd.TPE:2412PLDT Inc. (Philippine Long Distance Telephone Company)PSE:TELTaipei City Government / Taiwan Municipal GovernmentsColoBarnGrupo Desson / Logistica Corporativa Agua AzulFilcomserveAuzpackMovement InteractiveEvergreen Aviation Technologies Corp. (EGAT)Salience Security

Proxies

Samsara Inc.NYSE:IOT Axon Enterprise, Inc.NASDAQ:AXON Motorola Solutions, Inc.NYSE:MSIChunghwa Telecom Co., Ltd.TPE:2412

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Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer