Haivision Systems Management
Management criteria checks 3/4
Haivision Systems' CEO is Mirko Wicha, appointed in Jan 2004, has a tenure of 22.33 years. total yearly compensation is CA$1.75M, comprised of 39.6% salary and 60.4% bonuses, including company stock and options. directly owns 14.6% of the company’s shares, worth CA$24.71M. The average tenure of the management team and the board of directors is 4.3 years and 7.7 years respectively.
Key information
Mirko Wicha
Chief executive officer
CA$1.7m
Total compensation
| CEO salary percentage | 39.60% |
| CEO tenure | 22.3yrs |
| CEO ownership | 14.6% |
| Management average tenure | 4.3yrs |
| Board average tenure | 7.7yrs |
Recent management updates
Recent updates
Narrative Update • May 12
HAI: Share Buybacks And Higher P/E Assumptions Will Support Upside Potential
Analysts have trimmed their target for Haivision Systems to about CA$10.94 from CA$11.56, reflecting updated views on revenue growth potential, profit margins, and P/E assumptions following recent Street research, including the latest cut from Canaccord. Analyst Commentary Bullish Takeaways Bullish analysts view the revised CA$10.94 target as still leaving some room for upside if the company can deliver on revenue execution assumptions embedded in recent models.Narrative Update • Apr 27
HAI: Buybacks And Modest Discount Rate Shift Will Support 2026 Confidence
Analysts have trimmed their price target on Haivision Systems by CA$2.50, citing updated assumptions around discount rates and valuation multiples, while keeping fair value broadly in line with prior estimates. Analyst Commentary Bullish Takeaways Bullish analysts see the revised price target as largely housekeeping, reflecting updated discount rate and multiple assumptions rather than a fundamental shift in the long term outlook.Narrative Update • Apr 11
HAI: Upgrade And Buybacks Will Support Confidence In 2026 Earnings Delivery
Analysts have updated their outlook on Haivision Systems, with the consensus price target now aligned with a fair value estimate of CA$11.56. Recent research points to refined assumptions for discount rate, revenue growth, profit margin, and future P/E rather than a major shift in the underlying story.Narrative Update • Mar 28
HAI: Upgrade And Buybacks Will Support Confidence In 2026 Earnings Delivery
Analysts have lifted their price target on Haivision Systems from CA$10.69 to CA$11.56, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples reflected in recent research such as the upgrade from Canaccord. Analyst Commentary Bullish Takeaways Bullish analysts view the higher CA$11.56 target as better aligned with updated assumptions on discount rates, suggesting the risk profile used in their models is now more closely matched to current conditions.Narrative Update • Mar 13
HAI: Upgrade And Buybacks Will Frame Balanced Expectations For 2026 Earnings
Analysts have adjusted their CA$ price target for Haivision Systems to reflect updated assumptions around discount rates, revenue growth, profit margins, and future P/E. The recent Canaccord upgrade highlights renewed confidence in the company’s outlook.Narrative Update • Feb 27
HAI: Upgrade And Buybacks Will Support Confidence In 2026 Earnings Execution
Analysts have raised their price target on Haivision Systems by CA$0.50 to CA$10.69, citing updated assumptions around fair value and price-to-earnings expectations following recent research commentary and an upgrade at Canaccord. Analyst Commentary Recent research commentary around Haivision Systems focuses on how updated assumptions feed into the refreshed fair value range and P/E expectations implied by the new CA$10.69 price target.
New Narrative • Feb 23
Long-Term Defense And Secure Video Demand Will Transform This Undervalued ISR And Control Room Leader
Catalysts About Haivision Systems Haivision Systems provides secure, low latency video networking, encoding and contribution solutions for mission critical, broadcast and enterprise customers worldwide. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 13
HAI: Upgrade And Buybacks Will Test Confidence In 2026 Guidance Execution
Analysts have lifted their price target on Haivision Systems from CA$8.13 to CA$10.19, pointing to adjustments in fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following recent research updates such as the Canaccord upgrade. Analyst Commentary Bullish Takeaways Bullish analysts link the higher fair value estimate to a view that the revised assumptions on revenue growth and profit margins better reflect the company’s current positioning and recent research updates.
New Narrative • Feb 08
Mission-Focused Markets And Recurring Revenue Will Support A Steady Long-Term Outlook
Catalysts About Haivision Systems Haivision Systems provides secure, low latency video encoding, contribution and control room solutions to defense, government, enterprise and live broadcast customers. What are the underlying business or industry changes driving this perspective?Narrative Update • Jan 30
HAI: Fair Value View Will Rely On 2026 Guidance Execution
Analysts have lifted their price target on Haivision Systems from $7.63 to $8.13, citing updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions reflected in recent research. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as better aligned with their refreshed view of fair value, given updated assumptions on revenue growth and profit margins.Analysis Article • Jan 16
Investors Appear Satisfied With Haivision Systems Inc.'s (TSE:HAI) Prospects
With a median price-to-sales (or "P/S") ratio of close to 1.1x in the Communications industry in Canada, you could be...Narrative Update • Jan 16
HAI: Higher P/E Outlook Will Support Re Rated Upside Potential
Analysts have lifted their price target on Haivision Systems to $7.63 from $6.09, citing updated assumptions around revenue growth, profit margin and a higher future P/E multiple following recent research. Analyst Commentary Bullish Takeaways Bullish analysts highlight that the higher price target to $7.63 reflects updated assumptions around revenue growth and profitability that they see as better aligned with recent research on the business.Narrative Update • Sep 13
Transition To Manufacturing And Defense Tech Investments Will Drive Future Opportunities
Haivision Systems' consensus analyst price target was notably raised, driven by a near doubling of its future P/E multiple despite a substantial decline in net profit margin, resulting in a new fair value of CA$6.09. Valuation Changes Summary of Valuation Changes for Haivision Systems The Consensus Analyst Price Target has significantly risen from CA$4.96 to CA$6.09.
New Narrative • Mar 10
$826 Million US Navy Contract Will Showcase Role In High-Margin, Mission-Critical Projects
Transition to a manufacturer model and international scaling will improve margins and drive growth.Analysis Article • Jan 28
Haivision Systems' (TSE:HAI) Earnings Offer More Than Meets The Eye
Despite posting healthy earnings, Haivision Systems Inc.'s ( TSE:HAI ) stock has been quite weak. We have done some...Analysis Article • Jan 17
Haivision Systems Inc.'s (TSE:HAI) Shares May Have Run Too Fast Too Soon
It's not a stretch to say that Haivision Systems Inc.'s ( TSE:HAI ) price-to-sales (or "P/S") ratio of 1x right now...Analysis Article • Aug 29
Optimistic Investors Push Haivision Systems Inc. (TSE:HAI) Shares Up 26% But Growth Is Lacking
Haivision Systems Inc. ( TSE:HAI ) shareholders have had their patience rewarded with a 26% share price jump in the...Analysis Article • Aug 20
Is Haivision Systems (TSE:HAI) Using Too Much Debt?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Mar 22
Haivision Systems' (TSE:HAI) Performance Is Even Better Than Its Earnings Suggest
The subdued stock price reaction suggests that Haivision Systems Inc.'s ( TSE:HAI ) strong earnings didn't offer any...Analysis Article • Mar 22
Haivision Systems' (TSE:HAI) Robust Earnings Are Not All Good News For Shareholders
After announcing healthy earnings, Haivision Systems Inc.'s ( TSE:HAI ) stock rose over the last week. While the...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jan 31 2026 | n/a | n/a | CA$1m |
| Oct 31 2025 | n/a | n/a | CA$115k |
| Jul 31 2025 | n/a | n/a | -CA$1m |
| Apr 30 2025 | n/a | n/a | -CA$980k |
| Jan 31 2025 | n/a | n/a | CA$2m |
| Oct 31 2024 | n/a | n/a | CA$5m |
| Jul 31 2024 | n/a | n/a | CA$5m |
| Apr 30 2024 | n/a | n/a | CA$4m |
| Jan 31 2024 | n/a | n/a | CA$1m |
| Oct 31 2023 | CA$2m | CA$670k | -CA$1m |
| Jul 31 2023 | n/a | n/a | -CA$5m |
| Apr 30 2023 | n/a | n/a | -CA$8m |
| Jan 31 2023 | n/a | n/a | -CA$7m |
| Oct 31 2022 | CA$1m | CA$670k | -CA$6m |
| Jul 31 2022 | n/a | n/a | -CA$5m |
| Apr 30 2022 | n/a | n/a | CA$1m |
| Jan 31 2022 | n/a | n/a | CA$3m |
| Oct 31 2021 | CA$2m | CA$635k | -CA$9m |
Compensation vs Market: Mirko's total compensation ($USD1.27M) is above average for companies of similar size in the Canadian market ($USD150.69K).
Compensation vs Earnings: Mirko's compensation has been consistent with company performance over the past year.
CEO
Mirko Wicha
22.3yrs
Tenure
CA$1,747,282
Compensation
Mr. Miroslav Wicha, also known as Mirko serves as Chairman of the Board and Chief Executive Officer of HaiVision Systems Inc. since 2004 and also serves as its President. Mr. Wicha has executive management...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 22.3yrs | CA$1.75m | 14.6% CA$ 24.7m | |
| CFO, Secretary & EVP | 17.5yrs | CA$1.19m | 2.09% CA$ 3.5m | |
| Chief Operating Officer | 1.5yrs | CA$553.75k | 0.25% CA$ 428.3k | |
| Chief Strategy Officer & Executive VP of Strategic Partnerships | 4.3yrs | CA$690.00k | 2.26% CA$ 3.8m | |
| Chief Product Officer & EVP Broadcast | 4.3yrs | CA$966.70k | 0.071% CA$ 119.4k | |
| Vice President of Marketing | 4.3yrs | no data | no data | |
| Senior Vice President Engineering of Broadcast | 4.3yrs | no data | no data | |
| EVP Mission & Chief Innovation Officer | 1.3yrs | no data | no data | |
| Senior Vice President | 1.3yrs | no data | no data | |
| President of MCS | 1.5yrs | no data | no data |
4.3yrs
Average Tenure
Experienced Management: HAI's management team is considered experienced (4.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 22.1yrs | CA$1.75m | 14.6% CA$ 24.7m | |
| Independent Lead Director | 15.8yrs | CA$147.00k | 0.86% CA$ 1.5m | |
| Independent Director | 8.3yrs | CA$110.00k | 1.14% CA$ 1.9m | |
| Independent Director | 4.8yrs | CA$100.00k | no data | |
| Independent Director | 7.1yrs | CA$100.00k | no data | |
| Independent Director | 5.3yrs | CA$100.00k | no data |
7.7yrs
Average Tenure
65yo
Average Age
Experienced Board: HAI's board of directors are considered experienced (7.7 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/18 04:51 |
| End of Day Share Price | 2026/05/15 00:00 |
| Earnings | 2026/01/31 |
| Annual Earnings | 2025/10/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Haivision Systems Inc. is covered by 5 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Nick Corcoran | Acumen Capital Finance Partners Limited |
| Jesse Pytlak | ATB Cormark Historical (Cormark Securities) |
| Donangelo Volpe | Beacon Securities Limited |