May 2026
đź“Ł VC round data is live. Check it out!
Largest IoT Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
Johnson Controls, BOE, Sharetronic, PTC and Shenzhen Sunway.
 | Following Johnson Controls’ divestiture of its residential and light commercial HVAC businesses to Bosch in 2025, nearly all of its revenue comes from commercial HVAC (60%) and fire and security products and services (40%). A 2016 merger joined Johnson Controls’ HVAC and Tyco’s fire and security businesses with the premise that there is synergy in offering a broader variety of automation products and solutions to commercial buildings. We estimate Johnson Controls’ pro forma revenue mix will be one-third products, one-third installation, and one-third services. | $144 | +42% | $88B | $97B | 4.1x | 24.4x | ||
 | BOE Technology Group Co Ltd is an investment holding company. Along with its subsidiaries, the company operates in the following business segments: Display business, Internet of Things (IoT) innovation business, Sensor business, MLED business, Smart medicine and engineering business, and Others. A majority of its revenue is generated from the Display business segment, which integrates design and manufacturing of display devices and offers TFT-LCD, AMOLED, Microdisplay, and other intelligent interface devices. This business focuses on providing high-quality smartphones, tablet PCs, laptops, monitors, TVs, vehicles, VR/AR, and other display devices for customers. Geographically, the group generates maximum revenue from Mainland China, followed by other regions. | $1 | +13% | $23B | $33B | 1.1x | 4.5x | ||
| Sharetronic Data Technology Co Ltd is engaged in production and sales of products such as Internet of Things intelligent terminals and data storage devices in the field of consumer electronics. The company provides wireless network and smart terminal. Its production lines mainly focus on Internet of Things, Smart Home, and Car Networking. Its products consist of virtual reality, laptops, wifi IP camera, and NAS storage. | $44 | +288% | $21B | $24B | 13.2x | 72.8x | ||
| PTC is a US-based global company that offers high-end computer-assisted design, product lifecycle management, and augmented reality solutions that industrial manufacturers commonly use on factory floors. Founded in 1985, PTC is a major player in parametric design and serves some of the world’s most well-known equipment manufacturers, such as Caterpillar, Garmin, and Thermo Fisher. | $141 | -16% | $16B | $17B | 6.3x | 12.7x | ||
| Shenzhen Sunway Communication Co Ltd is operating in the communication industry. The company is primarily focusing on the research and development, manufacturing, sales and marketing of the mobile terminal antennas and related modules, acoustic modules and connectors with high electromagnetic compatibility. Its products offering include mobile antenna, precision metal parts, MIM metal parts, acoustics and new materials products. Its products mainly apply to consumer electronic fields like smartphone/tablet PC, smart wearable devices, smart home/IoT and smart automobiles, and primarily expand the supporting capability towards industry, automobile, and military fields. | $17 | +437% | $16B | $16B | 12.0x | 71.1x | ||
| Samsara Inc provides an end-to-end solution for operations. The company's Connected Operations Platform consolidates data from its IoT devices and a growing ecosystem of connected assets and third-party systems, and makes it easy for organizations to access, analyze, and act on data insights using its cloud dashboard, custom alerts and reports, mobile apps, and workflows.. The company derives almost all of its revenue from subscription services. Geographically, it derives a majority of its revenue from the United States. The company's customers ranges from small and medium-sized businesses to state and local governments. | IoT+1 | $28 | -41% | $16B | $15B | 9.4x | 49.8x | |
 | Lite-On Technology Corp is a computer storage device company that manufactures consumer electronics. The main businesses include Research and development design, manufacturing and sales of key modules and system solutions for optoelectronics, cloud computing power management systems, EV chargers, energy management, LED packaging for lighting applications, IoT and networking applications, information technology, and consumer electronics. | $7 | +111% | $15B | $13B | 2.5x | 17.0x | ||
| Advantech is the world’s largest supplier of industrial personal computers and a leading provider of embedded boards. The company serves a wide spectrum of downstream sectors, including manufacturing, retail, healthcare, transportation, and energy and environment. Headquartered in Taiwan, Advantech operates manufacturing facilities in Taiwan, mainland China, and Japan. | IoT+3 | $15 | +37% | $13B | $12B | 5.4x | 27.6x | |
| CIG Shanghai Co Ltd is an original development manufacturer of the carrier and enterprise-grade customer premise equipment. Its product offerings include wireless network equipment, smart home gateway products, telecom broadband terminals, and other products. | $26 | +395% | $9B | $9B | 12.7x | 113.2x | ||
| Acuity is a leading industrial technology company that offers lighting, lighting controls, and intelligent building solutions. It designs, manufactures, and brings to market products and services relating to these and other offerings. Acuity has two reportable segments: Acuity Brands Lighting and Acuity Intelligent Spaces. ABL sells commercial, architectural, and specialty lighting, including components and control systems. AIS offers building management and audio/visual solutions to help make buildings intelligent. | $284 | +9% | $9B | $9B | 2.1x | 11.2x | ||
| EquipmentShare.com Inc is a construction technology solutions and equipment rental company. It operates business through reportable segments: Equipment Rental and Services Operations, comprises of recurring activity performed at full-service branch locations, such as equipment rentals and related services (including allocated telematics revenue related to rental customer access to the T3 platform), and sales of parts, supplies and maintenance services to construction contractors and others; and Equipment Sales, comprises of sales of new or used equipment made at any of branch locations and dealership sites, equipment sales to participants in the OWN Program. Its activities also include telematics subscriptions, software applications, building materials and hardware supplies, and others. | $26 | -- | $7B | $11B | 2.5x | 7.7x | ||
| Shenzhen Huaqiang Industry Co Ltd is a China-based company operating in the electronic information industry. Focusing on the electronic information industry, the company continuously innovates service models, expands service content, upgrades service quality, and integrates innovation in many aspects such as electronic component distribution, application solution research and development, technical support guarantee, and industrial Internet, establishing a comprehensive and three-dimensional competitive advantage, and It has built the largest comprehensive electronic components trading service platform in China. | $5 | -- | $6B | $7B | 1.8x | 40.1x | ||
| Shenzhen Goodix Technology Co Ltd is a China-based company mainly engaged in the research and development of chips. The company develops capacitive touch controllers and fingerprint recognition chips, serving applications in smart devices, IoT, and automotive electronics. It is also engaged in software development. The company's products and solutions are used by various mobile brands Huawei, OPPO, Vivo, Xiaomi, Amazon, Samsung, Dell, Nokia, LG, ASUS, and others. | IoT+1 | $10 | 0% | $5B | $4B | 5.5x | 23.0x | |
| Thunder Software Technology Co Ltd is a China-based smart device operating system and platform technology provider. It provides smart device operating system solutions to consumers as well as enterprises. The company offers solutions for smartphones, tablets, smart TVs, camera solutions, mobile device management systems, application development platforms, and mobile security solutions. In addition, it also offers services such as carrier certification, Android OS upgrade, application development and maintenance, OS customization, and others. | IoT+1 | $10 | +24% | $5B | $4B | 3.7x | 27.0x | |
| Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications. Its platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs. Geographically, the company has a business presence in the Americas, Asia Pacific, Europe, Middle East and Africa, of which key revenue is derived from the operations in the Asia Pacific region. | IoT+2 | $148 | +29% | $5B | $5B | 12.8x | 66.6x | |
 | Nordic Semiconductor designs Bluetooth Low Energy chips for the wireless industry, making 90% of its revenue from this technology. Nordic’s chips are used in all types of battery-powered devices such as wearables, smarthome applications, asset trackers, and industrial and healthcare markets. In recent years Nordic has also expanded into adjacent technologies such as Wi-Fi, Thread protocol and long-range connectivity. | $22 | +67% | $4B | $4B | 6.3x | 62.1x | ||
| WNC Corp is engaged in designing, development, and manufacturing of cutting-edge communications products. The company provides comprehensive technical support in RF antenna design, software design, hardware design, mechanical design, system integration, user interface development, and product testing & certification. | $9 | +123% | $4B | $4B | 1.1x | 16.9x | ||
| Hangzhou EZVIZ Network Co Ltd is engaged in providing smart life solutions based on visual interaction. It also provides open cloud platform services for managing IoT devices. | $5 | -1% | $4B | $3B | 3.5x | 23.1x | ||
| Shenzhen SED Industry Co Ltd operates in a smart industry which includes smart transportation, smart lighting, new energy and smart business, rail transit communication signal industry, and logistics industry which includes industrial logistics. The company operates in four reporting segments namely: high-tech industry engineering services, digital and information services, data Heating and new energy services, and other industrial services. The majority of its revenue is generated from the high-tech industry engineering services segment. | $3 | +0% | $3B | $3B | 0.5x | 12.6x | ||
| Fibocom Wireless Inc is a Chinese wireless communication module and solutions provider. It is focused on the development of the Internet of Things (IoT) and consumer electronics. The company brand products cover LTE, NB-IoT/eMTC, HSPA, GSM/GPRS wireless communication modules and solutions. Through IoT, the company offers solutions such as wireless payment, car networking, security monitoring, mobile internet, and smart grid. | $4 | -3% | $3B | $3B | 3.0x | 38.0x | ||
 | HMS Networks AB supplies proprietary, patented technology for intelligent industrial communication. It develops and manufactures solutions for connecting industrial products to networks and gateways, thus enabling interconnection between various networks. The group sells products in various countries, including Germany. It generates the majority of its revenue from the USA, Japan, France, China, Sweden, Italy, and other countries. The brands of the company are Anybus, Red Lion, N-Tron, Ewon, Intesis, Ixxat, Owasys, and PEAK-System. | IoT+2 | $62 | +31% | $3B | $3B | 8.2x | 28.4x | |
| Hanshow Technology Co Ltd is engaged in Wireless communication technology for the Internet of Things. The company provides digital technology to help stores and facilities reduce operational costs, increase sales, and deliver an improved experience for the customers. | $7 | -11% | $3B | $3B | 4.1x | 32.1x | ||
| NextNav Inc provides GPS service. The company NextNav TerraPoiNT system keeps critical infrastructure resilient with reliable Position, Navigation, and Timing services in the absence of GPS. | $21 | +68% | $3B | $3B | 655.4x | (74.1x) | ||
| Willfar Information Technology Co Ltd is engaged in production and sales of software and hardware products at all levels of the Internet of Things, such as electric monitoring terminals, water and gas heat sensing terminals, communication gateways, communication modules, and smart utility management system software. | $6 | +19% | $3B | $3B | 6.1x | 20.7x | ||
| Digi International Inc is a Minnesota corporation that provides business and mission-critical Internet of Things (IoT) connectivity products and services. It operates through two segments: IoT Products & Services, which supports OEMs, enterprise, and government customers in deploying secure IoT connectivity solutions, and IoT Solutions, consisting of SmartSense and its Managed Network-as-a-Service (MNaaS) business offering wireless temperature and condition-based monitoring, employee task management, label printing, and other services. The company generates the majority of its revenue from the IoT Products & Services segment and mainly from the United States, with a presence in Europe, the Middle East and Africa, and the Rest of the world. | IoT+1 | $65 | +102% | $2B | $3B | 6.0x | 23.8x | |
 | Vusion is a company that offers Vuision Retail IOT technology platform to help retailers transform their physical stores into high-value digital assets that are more automated, data-driven, and connected in real-time to suppliers and consumers. It connects shelves to the cloud, providing real-time accurate information on product availability and location, allowing for reduced inventory, out-of-stock, and waste, as well as improved on-shelf availability and merchandizing compliance. | IoT+1 | $144 | -- | $2B | $2B | 1.1x | 4.8x | |
 | Spark is one of only three integrated telecommunications companies in New Zealand. It is the leading mobile network operator with low- to mid-40% subscriber and revenue share, and the dominant provider of fixed-line broadband services with a mid-30% subscriber share. It has a big position in the New Zealand corporate and wholesale telecommunications services provision space. Spark supplements its core telecommunications operations and related infrastructure with IT products and services across cloud, managed data and networks, procurement, data centers, and Internet of Things. Its operations are all based in New Zealand, except for its 41% interest in Southern Cross Submarine Cables, which has zero book value and to which Spark has no funding obligations. | $1 | -8% | $2B | $4B | 1.7x | 5.8x | ||
 | TKH Group NV is a provider of vertical-specific communications and connectivity solutions. Its operations are organized into three segments which include Smart Vision systems, Smart Connectivity systems, and Smart Manufacturing systems. Geographical segments of the organization are divided into various regions including the Netherlands, Europe, Asia, North America, and other regions. | $54 | +24% | $2B | $3B | 1.4x | 9.2x | ||
| Nexwise Intelligence China Ltd is a high-tech company in computing, intelligent system and security services. It is committed to security systems and intelligent systems, providing excellent services to military, government, police, energy and infrastructure and other partners. | $14 | +308% | $2B | $2B | 19.1x | 188.2x | ||
| Fengzhushou Co Ltd is an Internet digital virtual commodity comprehensive service provider, mainly providing mobile Internet digital virtual commodity aggregate operation, fusion operation, distribution operation and other comprehensive operation services for customers in mobile Internet-related scenarios, and providing Internet of Things traffic access, Comprehensive solutions such as hardware solutions, scene applications, and cloud terminal solutions, and provide customized operational support services and technical services according to customer needs. It is an innovative software technology enterprise that has grown up with the development of the mobile Internet. | IoT+1 | $8 | +89% | $2B | $2B | 7.6x | 74.7x | |
| Alarm.com Holdings Inc has a cloud-based platform that offers an expansive suite of IoT solutions addressing world-wide opportunities in the residential, multi-family, small business and enterprise commercial markets. It has two reportable segments: Alarm.com & Other. The Alarm.com segment represents the cloud-based Software platforms for intelligently connected property & related solutions. The other segment is focused on researching, developing & offering residential & commercial automation solutions & energy management products & services in adjacent markets. The majority of revenue is from the Alarm.com segment. The platform allows home & business owners to secure their properties and automate & control an array of connected device. | $42 | -26% | $2B | $2B | 2.1x | 9.4x | ||
| Shenzhen Topband Co Ltd is engaged in the manufacturing of intelligent controller solutions, high-efficient motors, and lithium batteries for the household appliance, power tools industry, and technology-related markets. | $2 | -16% | $2B | $2B | 1.3x | 16.3x | ||
 | Raspberry Pi Holdings PLC is a Company involved in designing and developing high-performance, low-cost single-board computers (SBCs) and compute modules for industrial IoT customers and embedded uses, as well as for educators and enthusiasts, in extensive markets. It is an established, full-stack engineering organization with research and development capabilities spanning the entire value chain, from semiconductor intellectual property development to the design of finished semiconductor and electronic products to software engineering and regulatory compliance. | $9 | +31% | $2B | $2B | 6.7x | 59.3x | ||
 | Sensirion Holding AG is engaged in the manufacturing of high-quality sensors and sensor solutions for the measurement and control of humidity, gas flow, liquid flow, and machine diagnostics. The firm offers its services and products to various industries such as Industrial, Automotive, Medical, Industrial, and Consumer. It operates in APAC, EMEA, and the Americas. | $101 | +12% | $2B | $1B | 3.4x | 17.9x | ||
| Gosuncn Technology Group Co Ltd is engaged in the research and development and application of core technologies, products and solutions based on the Internet of Things and artificial intelligence and provides smart city Internet of Things products and services. | IoT+2 | $1 | +23% | $2B | $2B | 5.2x | 223.3x | |
 | Bittium Corp is a Finland-based company operating in the wireless business. It provides communications and connectivity solutions to customers in the Internet of Things, telecommunications, defense, and healthcare industries. The firm's product portfolio includes LTE smartphones for demanding security and public safety needs, wireless Internet protocol networks, voice-over-Internet protocol products, and LTE access points for tactical communications. The company develops healthcare technology solutions for biosignal measuring. Geographically, the company operates in Finland, the Americas, Europe, and Asia, and a majority of the revenue is derived from operations in Finland. | IoT+2 | $42 | +425% | $2B | $1B | 10.7x | 38.9x | |
| Tuya Inc is an AI cloud platform service provider dedicated to bringing AI into everyday life. The group leverages its TuyaOpen open-source framework and universal AI Agent engines, including the AI Agent development platform, to integrate multimodal AI capabilities and reduce barriers to AI development. It drives the adoption of AI-powered lifestyles and speeds up the integration of AI with the physical world. It offers innovative physical AI solutions for smart devices, commercial use, and industry developers using cloud computing and spatial intelligence. It also provides a complete, open, and neutral global AIoT ecosystem. It builds a developer community that collaborates to create smart solutions grounded in sustainability, security, efficiency, agility, and openness. | $2 | -9% | $1B | $453M | 1.4x | 21.0x | ||
| Arlo Technologies Inc is engaged in the provision of security and video monitoring solutions for homes and businesses. It combines a cloud infrastructure and mobile app with various smart connected devices to provide users with visibility, insight, and a means to help protect and connect in real-time with the people and things from any location with a Wi-Fi or a cellular connection. The company offers subscription services such as Arlo Secure, Arlo Total Security, and Arlo Safe, and several categories of smart security devices, including smart Wi-Fi and LTE-enabled cameras, video doorbells, floodlight cameras, and home security systems. Geographically, the company generates a majority of its revenue from the United States, followed by Spain, Sweden, and other countries. | $13 | -12% | $1B | $1B | 2.3x | 16.2x | ||
| Arcadyan Technology Corp is engaged in the research, development, manufacture, and distribution of wireless local area network products, integrated access devices, digital home multimedia appliances, mobile broadband products, and wireless products. The company's products include digital subscriber line customer premises equipment (DSL CPE), fiber-to-the-x (FTTx) equipment, mobile broadband equipment, set-top boxes, and others. The Group includes only one segment The networking product. Its geographically revenue comes from Vietnam, Taiwan and others. | $6 | -13% | $1B | $854M | 0.5x | 6.0x | ||
| Aeva Technologies Inc through its Frequency Modulated Continuous Wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that, along with its proprietary software applications, has the potential to enable the adoption of LiDAR across broad applications from automated driving to consumer electronics, consumer health, industrial automation, and security application. The company operates in North America, EMEA, and Asia. The company derives the majority of its revenue from North America. | $20 | +11% | $1B | $1B | 70.8x | (11.7x) | ||
| Plejd AB develops products and services for smart lighting and home automation. | IoT+3 | $110 | +60% | $1B | $1B | 11.9x | 35.2x | |
 | Ituran Location and Control Ltd is a provider of location-based services. The company operates in two segments, namely Telematics services and Telematics products. The Telematics services segment consists of regionally-based stolen vehicle recovery (SVR) services, fleet management services, and value-added services comprised of personal locater services and concierge services. The Telematics product segment consists of short and medium-range two-way machine-to-machine wireless communications products that are used for various applications, including automatic vehicle location and automatic vehicle identification. Its geographical segments include Israel, Brazil, and Others. The company derives maximum revenue from Israel. | IoT+2 | $59 | +55% | $1B | $1B | 3.0x | 11.1x | |
| Queclink Wireless Solutions Co Ltd is a China based company engaged in supplying machine-to-machine (M2M) devices and solutions. The products offered by the company are asset trackers, personal trackers, vehicle tracker, and other accessories. It also offers solutions such as asset tracking, lone workers, telecare, monitoring, and fleet management. | IoT+1 | $2 | +28% | $1B | $895M | 6.8x | 63.0x | |
| Yunding Technology Co Ltd is a high-tech company focusing on the intelligent industry of the energy industry. It focuses its development strategy on the field of industrial Internet services and develops in-depth in the field of mining industrial intelligence and coal gasification technology, providing customers with integrated system research and development, design, operation, and maintenance. | IoT+1 | $1 | -- | $1B | $902M | 4.0x | 39.6x | |
 | Yuil Robotics Co Ltd is engaged in developing and producing automation systems consisting of industrial robots such as orthogonal robots, collaborative robots, and multi-joint robots, and smart devices as the main products. The company also provides total solutions for manufacturing automation in the injection molding industry and all industrial fields. | $67 | +40% | $781M | $773M | 31.3x | (52.0x) | ||
| People & Technology Inc is engaged in manufacturing of special-purpose machinery. It operates the business through film division, battery division, copper division, non-woven division, and water division. Its products include li-ion battery sequential both-side coater, electronic deposition machine, non-woven auto turret winding machine. | IoT+2 | $33 | -- | $767M | $931M | 1.9x | 13.0x | |
| Sercomm Corporation is a provider of broadband networking software. The Company is engaged in research and development, manufacturing, and sales of networking communication software and equipment. Its mainstream products includes FTTx Products, Cable DOCSIS Equipment, Integrated Access Devices (IAD), Small Cells, Smart Home, Mobile IoT, and SMB Products. | IoT+1 | $3 | -18% | $755M | $761M | 0.4x | 8.3x | |
| Intelligo Technology Inc is an AI specialized company. Building upon three core competencies in the area of deep neural network algorithm development, signal processing, and IC designing, it commit to consistently delivering the complete solutions to bring impressive experience to users for human-to-human and human-to-machine communications. Its solutions have been globally adopted by multinational first tier branding companies in devices ranging from PC/Notebooks monitors, to gaming headsets, TWS headsets, speakerphones, smart watches, and smart IoT devices. Its solutions include Voice User Interface, and Speech Enhancement. | IoT+1 | $15 | -- | $720M | $621M | 12.3x | 28.4x | |
 | CE Info Systems Ltd is a data and technology products and platforms company, offering proprietary digital maps as a service, software as a service, and platform as a service. It provides software products, platforms, application programming interfaces, and solutions across a range of digital map data, software, and IoT for the Indian market under the MapmyIndia brand, and for the international market under the Mappls brand. The Company has only one business segment, i.e. Map data and Map data related services (GPS navigation, location-based services and IoT). This business mainly consists of products like digital map data, GPS navigation and location-based services, licensing, royalty, annuity, subscription and customizing its products to customers. | $11 | -49% | $588M | $556M | 10.2x | 23.3x | ||
 | Blackline Safety Corp is a connected safety monitoring technology company. The company develops, manufactures, and markets products and services that empower businesses with real-time safety insights to manage emergency responses, evacuations, and gas detection compliance programs. Its operating segments include the Product segment and the Service segment which generates the majority of the revenue for the company. Service revenues relate to connectivity, monitoring and data services that it provides to the customers of its safety devices and includes access to the Blackline Safety Cloud, compliance and analytics reports, SOC monitoring, two-way voice functionality and push to talk capability. Geographically, it derives revenue from Canada, Europe, United States and Rest of the World. | $7 | +17% | $571M | $549M | 5.0x | 125.2x | ||
| Gemtek Technology Co Ltd is a provider of wireless broadband solutions. Its product portfolio consists of long-term evolution, digital home, voice over internet protocol, network camera, broadband, wireless networking, the system in package, and ultra-wideband. Its reportable segment is the wireless telecommunication products department. The group operates in the geographical areas of Taiwan, China, Vietnam, United States, and Czech Republic. | $1 | +45% | $516M | $389M | 0.7x | 19.1x | ||
| Ependion AB is an expansive technology group delivering digital solutions for secure control, management, visualization, and data communication for industrial applications in environments where reliability and high quality are critical factors. Its segments are Beijer Electronics and Westermo business. | $15 | +25% | $477M | $537M | 2.1x | 11.1x | ||
| PowerFleet Inc is engaged in Internet-of-Things (IoT) solutions providing valuable business intelligence for managing high-value enterprise assets that improve operational efficiencies. It provide critical information that powers unified operations throughout organizations. It is solving the challenge of inefficient data collection, real-time visibility, and analysis that leads to transformative business operations. Its SaaS cloud-based applications take data from IoT devices and ecosystem of third-party and partner applications to present actionable information for customer. | IoT+1 | $3 | -27% | $443M | $701M | 1.9x | 9.9x | |
| Xperi Inc is a consumer and entertainment technology company. Its offering comprises a portfolio of software and services. The company creates extraordinary experiences at home and on the go for millions of consumers around the world, enabling audiences to connect with content in a more intelligent, immersive, and personal way. Its business is divided into four categories based on the products delivered and customers served: Pay-TV, Consumer Electronics, Connected Car, and Platform Solutions. It generates the majority of its revenue from the Consumer Electronics segment. Its also have sales in Japan, Europe and Middle East, China, South Korea, Latin America, and Others. | $8 | +5% | $396M | $394M | 0.9x | 5.1x | ||
| Gorilla Technology Group Inc is engaged in providing information, software, and data processing services. It is a provider of video intelligence, Internet of Things (IoT) security, edge AI data analytics, and operational technology (OT) security solutions and services. Its reportable segments are video IoT and security convergence and Other segments. | $14 | -20% | $383M | $297M | 2.9x | 15.6x | ||
| Smart Eye AB is engaged in developing and marketing eye-tracking technology that can measure, calculate, and predict where a person is looking. The company’s eye-tracking technology and iMotions biosensor software platform are also used in behavioral research to enable research in academic and commercial sectors. | $8 | +3% | $296M | $315M | 7.0x | 568.5x | ||
 | Soracom Inc is engaged in development and provision of the IoT platform SORACOM. IoT platform SORACOM provides one-stop IoT devices, communications, applications, etc. | $6 | +19% | $294M | $250M | 4.1x | 43.8x | ||
| Fixstars Corp is a Japan based software company. It offers multicore processors and application acceleration for the next generation of memory technology that delivers high speed IO as well as power savings. The solutions offered by the company are quantum computing, IoT, machine learning and FPGA. It operates in the business areas of Automotive, Flash storage, Industrial equipment, Finance, Healthcare and HPC. The company's products are M-cubed, Geometric Performance Primitives, FlashAir and Yellow Dog Appliance Server. | IoT+2 | $9 | -36% | $287M | $257M | 4.1x | 14.7x | |
| Asterasys Co Ltd is a professional healthcare and biomedical corporation based in Korea. It is engaged in the Manufacture of electro-diagnostic and electro-therapeutic apparatuses featuring body composition analyzers such as the InBalance series and HIFU systems such as the Liftera series, it provides total solutions with healthcare, skincare, and IoT-oriented services that can connect with its product portfolio. | IoT+1 | $7 | -15% | $260M | $244M | 9.6x | 28.8x | |
| Inseego Corp is involved in the design and development of fixed and mobile wireless solutions (4G and 5G NR), Industrial Internet of Things, and cloud solutions for enterprises, service providers, small and medium-sized businesses, governments, and consumers around the globe. Its products and services include intelligent mobile hotspots, wireless routers for IoT applications, USB modems, integrated telematics and mobile tracking devices, which are supported by application software and cloud services designed to enable customers to analyze data insights and configure and manage their hardware easily. It generates maximum revenue from the United States and Canada. The company also has a presence in Europe (including the United Kingdom). | IoT+1 | $15 | +102% | $245M | $280M | 1.7x | 13.9x | |
| Lantronix Inc is a networking company. It provides secure data access and management solutions for the Internet of Things (IoT) and information technology assets. It organizes its products and solutions into three product lines: Embedded IoT Solutions, IoT Systems Solutions, and Software and Services. The IoT System Solutions segment is the key revenue driver for the company. The company serves a diverse range of markets including healthcare, industrial, security, energy, transportation, and government networking. Its primary geographic markets are the Americas, Europe, the Middle East and Africa, and Asia Pacific Japan. The Americas contribute the vast majority of total revenue. | IoT+1 | $6 | +180% | $244M | $237M | 1.9x | 44.0x | |
| Beijing Saimo Technology Co Ltd provides testing, validation, and evaluation of the functionality, compatibility, safety, reliability, and comfortability of ICVs in the PRC. The company generates the majority of its revenue from ICV simulation testing software and platforms. Geographically, the company generates all of its revenue from the PRC. | $2 | +7% | $232M | $185M | 4.8x | 8.7x | ||
| Immersion Corp is focused on the creation, design, development, and licensing of haptic technologies that allow people to use its sense of touch more fully as it involves engaging with products and experience the digital world. The company's software focuses on applications in mobile devices, wearables, consumer, and gaming devices markets. It generates revenue from royalty and license fees, and development contract and service fees. Geographically, the company generates a majority of its revenue from Japan, followed by Korea, Germany, United States of America and other countries. | IoT+1 | $6 | -15% | $212M | $344M | 0.2x | 2.0x | |
 | Gefran SpA operates in two business divisions including industrial sensors, and automation components. The sensors business offers a complete for measuring four physical parameters position, pressure, force, and temperature. The electronic automation components business is divided into three product lines: instrumentation, power controllers, and automation platforms. It generates the majority of the revenue from sensors. It has a geographical presence in Italy, the European Union, North America, South America, and the Rest of the World. | $13 | +6% | $185M | $146M | 0.9x | 5.5x | ||
 | Zumtobel Group AG supplies lighting solutions, lighting components, and associated services. The company also manufactures and hardware and software for lighting systems (LED light sources and LED drivers, sensors, and lighting management). It provides consultation on smart lighting controls and emergency lighting systems, light contracting, design services, and project management of turnkey lighting solutions, as well as new, data-based services focused on delivering connectivity for buildings and municipalities via the lighting infrastructure. The operating segments of the group are the Lighting segment and Components segment, of which a majority of revenue is generated from the Lighting segment, The group has a business presence all around the globe. | $4 | -27% | $173M | $327M | 0.3x | 3.0x | ||
| Quartix Technologies PLC is a supplier of vehicle telematics services. It has two reportable segments: Insurance and Total Fleet operations. The Total Fleet segment has been sub-divided into two further categories. Customer Acquisition includes sales and marketing costs of acquiring new fleet customers and the cost associated with units installed for those customers. Fleet Telematics Services includes recurring revenue associated with the group's active subscription base and the cost of servicing that subscription base. The main source of revenue for all segments is from the provision of vehicle telematics services. The group's revenue by geographical markets is highest in the UK, followed by France, the USA, and other European territories. | IoT+2 | $3 | -1% | $167M | $161M | 3.3x | 9.9x | |
| Nelco Ltd is in the business of providing domestic satellite communication services to close user group (CUG) networks via Satellite System on non-exclusive basis within the territorial boundary of India under the VSAT, ISP and other Licenses and authorisation granted by Department of Telecommunications, Government of India. The company operates in a single reportable segment, namely Network Systems, comprising Satellite Communication (Satcom) Services, which include equipment sales, maintenance, and other allied services. The group earns revenue from providing Satellite communication connectivity systems and solutions through sale of goods, providing installation and annual maintenance services, renting of goods, Integrated Security & Surveillance services. | $7 | -27% | $163M | $168M | 5.2x | 54.5x | ||
| Kore Group Holdings Inc provides Internet of Things (IoT) solutions and services. In addition to providing critical services to customers globally, it enables them to manage, deploy, and scale their IoT applications and use cases. It offers connectivity services, location-based services, device solutions, and managed and professional services for the development and support of IoT technology for the Machine-to-Machine market. It derives revenue from IoT Connectivity services, IoT Solutions services, SIMs (IoT Connectivity), and IoT devices (IoT Solutions). Geographically, the company generates the majority of its revenue from the United States and the rest from other countries. | $9 | +266% | $161M | $431M | 1.5x | 6.8x | ||
 | Reeder Teknoloji Sanayi ve Ticaret AS is a company engaged in producing electronic products, which are smart mobile phones, robot vacuum cleaners, smart watches, smart televisions, and tablets. The company generates revenue from sales of mobile phones, tablets, robot vacuum cleaners, smart watches, and accessories. | $0 | -36% | $159M | $154M | 2.7x | 13.7x | ||
| Microprogram Information Co is a company that provides industrial IoT technology services and is committed to allowing their clients to have a better and sustainable life. They focus on the three major areas of electronic payment, wireless sensing and cloud data. Through user research, vertical integration of software and hardware technologies, terminal sensor devices, mobile apps, cloud service platforms and core technologies of big data analysis, we assist transportation and finance, retail, manufacturing, bicycle and other industries to innovate and upgrade. They assist you from definition of requirements, concept creation, product development, to service optimization, using the advantages of software and hardware integration technology. | $2 | +22% | $138M | $121M | 7.5x | 34.1x | ||
| Arbe Robotics Ltd is a provider of 4D Imaging Radar solutions enabling driver-assist systems while paving the way for fully autonomous driving. It is a research and development company in the field of chips for Advanced radar systems, which are mainly intended to be used as Advanced Driver Assistance Systems (ADAS) adapted for autonomous vehicles as well as for non-automotive uses. Its geographical segments include Sweden, China, Germany, Hong Kong, USA, Israel, Switzerland, Italy, and others. | $1 | -38% | $126M | $108M | 105.1x | (2.9x) | ||
| AEye Inc is a provider of high-performance, active lidar systems for vehicle autonomy, driver-assistance systems (ADAS), and robotic vision applications. The company's software-definable 4Sight Intelligent Sensing Platform combines solid-state active lidar, an optionally fused low-light HD camera, and integrated deterministic artificial intelligence to capture more intelligent information with less data, enabling faster, more accurate, and more reliable perception of the surroundings. Majority of the Company's revenue is generated from customers located in the United States followed by Europe, and Asia-Pacific. | $2 | +250% | $110M | $24M | 104.7x | (0.8x) | ||
| EROAD Ltd is a New Zealand Based company which is a fully integrated technology, tolling and services provider. It designs and manufactures in-vehicle hardware operates secure payment and merchant gateways and offers web-based value-added services. The company provides electronic on-board units and software as a service to the transport industry. Its products are categorized in RUC Compliance, Health & Safety, and Fleet Management. It operates through four segments: Corporate & Development, North America, Australia, and New Zealand. | IoT+1 | $1 | -41% | $109M | $118M | 1.0x | 3.2x | |
| LumenRadio AB provide ultra-reliable and ultra-low power device-to-device wireless connectivity for the most business-critical applications. The company's scalable solutions are based on patented wireless technology for lighting control, building automation and industrial communication. | IoT+2 | $7 | +1% | $91M | $79M | 3.0x | 18.0x | |
 | iWOW Technology Ltd is a technology provider specializing in integrated wireless IOT solutions offered as a service. It combines custom-designed hardware with cloud-based software to create end-to-end IoT solutions that help clients to digitalize businesses. It offers IoT solutions in Smart Metering, Smart Tracking, and Smart City Applications. The company operates in geographical segments such as Singapore, Malaysia, Others. | $0 | -- | $89M | $87M | 3.2x | 340.0x | ||
| Airgain Inc is engaged in providing antenna technologies. These technologies can be used to enable performance wireless networking across devices and markets which include connected homes, enterprises, automotive, and the Internet of Things. It also provides solutions to complex radio frequency, engineering challenges, and improving wireless service that require higher throughput, broad coverage footprint, and carrier-grade quality. Geographically, it derives maximum revenue from North America and also has a presence in China and the Rest of the World. The company products include Antenna Plus: Fleet, M2M, IoT Antennas, Carrier-Class Antenna, Embedded Antennas, and External Dipole Antennas. | IoT+2 | $7 | +69% | $85M | $83M | 1.6x | (53.7x) | |
| Oxford Metrics PLC is a smart sensing and software company that enables organisations to capture, analyse, and act on motion and measurement data to improve performance, efficiency, and decision-making. The Group operates through two divisions, Motion Capture and Smart Manufacturing, serving life sciences, entertainment, engineering, and smart manufacturing markets. Motion Capture involves the development, production, and sale of computer software and equipment, and contributes the majority of revenue, while Smart Manufacturing focuses on vision inspection systems. The Group operates in the UK, Europe, North America, Asia Pacific, and other regions, with the majority of revenue generated from North America. | $1 | -19% | $71M | $26M | 0.4x | 3.2x | ||
| Viomi Technology Co Ltd, along with its subsidiaries, specializes in the development and sale of Internet-of-Things-enabled smart home products, particularly focusing on home water solutions. The company markets its products in China and generates the majority of its revenue through the sale of smart water purification systems and other connected home devices designed to improve convenience and automation in residential settings. Its product offerings include water purification products, water heaters, smart water kettles, electric kettles, water filters, range hoods, gas stoves, and other small appliances. | $1 | -29% | $66M | ($86M) | (0.2x) | (3.4x) | ||
| Claranova is a French-based, international technology group specializing in software, IoT, and digital photo printing, with 94% of its ~€120m+ revenue generated outside France. The company operates three core businesses—PlanetArt, Avanquest, and myDevices—focused on translating technological innovations into user-centric products sold in over 160 countries. | $1 | -- | $57M | $98M | 0.7x | 3.5x | ||
| Universal Electronics Inc is a United States-based company that principally designs, develops, manufactures, ships, and supports control and sensor technology solutions and a broad line of universal control systems, audio-video (AV) accessories, wireless security, and smart home products that are used by the world's brands in the video services, consumer electronics, security, home automation, climate control and home appliance markets. It generates its total revenue from the United States. | $4 | -42% | $49M | $52M | 0.1x | 2.2x | ||
| 3alogics Inc is a technology-intensive company that designs and develops SoC (System on Chip) such as NFC/ RFID Reader Chips. The NFC/ RFID technology, a short-range wireless communication technology, for implementing the Internet of Things (IoT). Its products are NFC Reader IC, NFC Tag IC, NFC Reader Module, NFC Label Tag, NFC Study Kit, BLE + NFC IC, and NFC Wireless Charging. | IoT+2 | $5 | +6% | $46M | $49M | 5.1x | (51.4x) | |
| Franklin Wireless Corp is a provider of wireless solutions, including mobile hotspots, routers, and modems, as well as hardware and software products that support machine-to-machine (M2M) applications and the Internet of Things (IoT). Its M2M and IoT solutions include embedded modules, modems, and gateways built to deliver reliable always-on connectivity supporting a spectrum of applications. These products are designed to solve wireless connectivity challenges in a range of vertical markets, including video surveillance, digital signage, home security, oil and gas exploration, kiosks, fleet management, smart grid, vehicle diagnostics, and telematics. | $3 | -19% | $40M | $8M | 0.2x | (4.0x) | ||
 | Yanosik SA is a technology company providing vehicle monitoring and navigation solutions through its flagship mobile application and devices. It creates a smart driver community, offering real-time traffic alerts, personalized notifications, and safety features to improve road safety and travel efficiency. The company combines modern technology with user collaboration to deliver a comprehensive system for safer and more comfortable journeys. | IoT+2 | $4 | +18% | $40M | $38M | 2.2x | 13.2x | |
| MicroCloud Hologram Inc, through its subsidiaries, is mainly engaged in holographic Technology. It includes Holographic solutions and Holographic technology services. The company also provides holographic digital twin technology services for customers and has built a holographic digital twin technology resource library. Geographically company is operating in single segment, China. | $2 | -72% | $39M | ($357M) | (6.0x) | (565.5x) | ||
| Checkit PLC is a real-time operation management software company engaged in providing intelligent operations management platforms for desk less workforces, enabling operational agility and intelligent decision-making in large multinational and complex national organizations. The company's subscription business model offers optional plugins for smart sensor networks and workflow task management. Its solutions apply digital tools and monitoring to transform workforce management and incorporate physical assets into a digital ecosystem using Internet of Things (IoT) sensors and monitoring devices. The company has two operating segments; the United Kingdom, and The Americas. It derives a majority of its revenue from the United Kingdom. | $0 | +76% | $38M | $34M | 1.9x | 253.8x | ||
| learnd SE is engaged in the design, installation, service and maintenance of Building Management Systems (BMS) and Building Energy Management Systems, and the provision of associated bureau services. | $3 | -- | $37M | $66M | 0.9x | 5.9x | ||
| Shelfie-Tech Ltd is a fully automated stock manager that utilizes AI and robotics to enhance store management and streamline workflows. Its robotic retail shelf monitoring system uses machine learning and image processing algorithms to automatically optimize inventory management and retail store shelf filling while ensuring an enhanced customer experience. | $1 | -- | $36M | $34M | — | (52.9x) | ||
| Latch Inc is a technology company delivering an integrated ecosystem of hardware, software and services designed to enhance operations and experiences within buildings, serving the multifamily rental market. Its core offering is built around a proprietary, cloud-based software-as-a-service (SaaS) platform (the DOOR Platform) that powers and manages the suite of smart access control devices (including locks, readers and intercoms) and smart home devices and integrates with other connected devices within a building. The company generates the majority of revenue revenue through the license of its SaaS over the cloud-based platform on a subscription-based arrangement. | $0 | +174% | $35M | $35M | 0.9x | (0.2x) | ||
| BOS Better Online Solutions Ltd is a provider of Intelligent Robotics and Supply Chain solutions for enterprises. The company manages its business in three reportable divisions: the Intelligent Robotics segment, the RFID Division segment, and the Supply Chain Solutions segment. The majority of revenue derives from Supply Chain Solutions which distributes electro-mechanical components, mainly to customers in the aerospace, defense, and other industries, and is a supply chain service provider for aviation customers that seek a comprehensive solution to their components-supply needs. Geographically company derives the majority of its revenue from Israel. | $5 | +2% | $32M | $23M | 0.5x | 5.0x | ||
| Informetis Co Ltd is engaged in the energy-Informatics business which includes sales, engineering and developing proprietary energy sensor, data-mining, in-house designed IoT data platforms to handle energy data, development of end-user apps, creation of new services that benefit the created values out of energy data. | IoT+3 | $5 | +12% | $27M | $30M | 8.7x | (8.4x) | |
| Veea Inc is a company providing an edge platform having extensive knowledge and expertise on content delivery and edge computing, and has brought a broad range of Wi-Fi, 4G/5G mobile wireless, and IoT products to market over the past two decades. The company has first-in-class VeeaHub smart connectivity and computing hubs that integrate a full range of connectivity options, application processing power, and a full security stack to form an elastic edge computing platform with a dynamic connectivity and application mesh that can easily be deployed and centrally managed from the cloud. | IoT+2 | $1 | -74% | $27M | $46M | 208.9x | (12.5x) | |
| Silvair Inc is a software application service provider. The company creates software for solutions for the Internet of Things. The firm provides Silvair lighting firmware which is a software for intelligent lighting components and provides silvair platform that includes digital tools for launching, configuring, and managing intelligent lighting networks. The company operates in the following segments; Lighting Control, Smart Lighting Services, and Smart Building Management. The majority of its revenue is generated from the Lighting Control segment. Geographically, the company derives maximum revenue from the European Union and the rest from other regions. | IoT+2 | $1 | +15% | $26M | $30M | 11.8x | 24.0x | |
 | NCTE AG develops, produces, and distributes sensors that measure torque, angle, position, bending, and shear. Its patented technology is based on the principle of magnetostriction. That means: It is contactless and thus maintenance-free. Its sensors work very precisely and reliably even over a long period and under difficult conditions. | $5 | -- | $22M | $21M | 3.0x | 42.7x | ||
| Farm Innovations SA is a Polish technology company focused on developing solutions for breeders and the veterinary sector. The company creates animal identification and monitoring systems based on microchips, sensors, and intelligent data analytics. | $10 | -- | $14M | $13M | 50.1x | 153.9x | ||
| TalkPool AG specializes in the design, integration, management, and optimization of communication networks and solutions. The company has built large telecom networks in over 50 countries on all continents. It offers services for the complete communication network life cycle from planning and implementation of new networks to operation and optimization and finally repair and consulting. | IoT+1 | $2 | +45% | $12M | $12M | 0.6x | 5.7x | |
| Fingerprint Cards AB is a Sweden-based company that is principally engaged in offering a broad range of biometric solutions. The company's products include fingerprint touch sensors, fingerprint swipe sensors, fingerprint area sensors, biometric modules, development kits, solutions, and others. The company targets the smartphone/tablet market and vertical markets where it can integrate its products; smartcards, the automotive industry, and the Internet of Things are prioritized markets. on. | $1 | -40% | $11M | $9M | 1.0x | (4.1x) | ||
| Cibox Inter@ctive specializes in the development of computer peripherals, connected terminals and Internet objects. The company manufactures smartphones, tablets and PC, and connected objects. The product portfolio includes - Myfone 5, Myfone 5c, Myfone 5e, Myfone 5s, My game 7, Oberon, Smoke detector, Motion detector, Door detector, and Plug. | $0 | -47% | $11M | $13M | 0.7x | (4.6x) | ||
| Kerlink SA is a provider of connectivity solutions for designing, launching, and operating public & private Internet of Things networks. It specializes in enabling future-proof intelligent IoT connectivity for key verticals such as fleet management, transportation & logistics, retail, asset tracking, and smart metering, as well as smart agriculture & environment, and smart cities, buildings, and factories. Its key revenue is generated from Private Networks followed by Historic and alternative telecom operators. Geographically, Key revenue is generated from EMEA (Europe, Middle East and Africa). | $1 | -16% | $8M | $18M | 1.0x | (38.1x) | ||
| AMA Corp PLC specializes in the development of remote assistance, inspection, and training solutions involving connected glasses, a dedicated smartphone, and external video sources such as webcams, thermographic cameras, endoscopes, microscopes, and others. Geographically the company operates in Europe, which includes subsidiaries in France, Germany, the UK, Romania, Italy and Spain and which invoice customers in Europe; North America, which includes subsidiaries in the United States and Canada and which invoice customers in the North American area; and lastly Asia, which includes subsidiaries in Hong Kong, Shanghai and Japan and which invoice customers in the Asia area. | $0 | -49% | $8M | $8M | 3.6x | (1.4x) | ||
| Track Group Inc designs, manufactures, and markets location-tracking devices and develops and sells a variety of related software, services, accessories, networking solutions, and monitoring applications. Its products and services include a full-range of one-piece GPS tracking devices, a device-agnostic operating system, a portfolio of software applications including smartphone, alcohol and predictive analytics, and a variety of accessory, service and support offerings. The company sells products across the world through its direct sales team and resellers. It sells to government customers on federal, state, and local levels in the United States and to members of the Ministry of Justice internationally. Geographically, it derives a majority of its revenue from the United States. | $1 | -- | $7M | $46M | — | — | ||
| Median | $6 | +9% | $543M | $543M | 3.0x | 13.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.