{"id":27411460,"date":"2022-01-24T08:00:16","date_gmt":"2022-01-24T13:00:16","guid":{"rendered":"https:\/\/www.brivo.com\/?post_type=newsroom_item&p=27411460"},"modified":"2026-10-23T01:43:29","modified_gmt":"2026-10-23T06:43:29","slug":"brivo-expects-to-outperform-initial-2021-revenue-outlook","status":"publish","type":"newsroom_item","link":"https:\/\/www.brivo.com\/es\/newsroom\/brivo-expects-to-outperform-initial-2021-revenue-outlook\/","title":{"rendered":"Brivo Expects to Outperform Initial 2021 Revenue Outlook"},"content":{"rendered":"

BETHESDA, MD., JANUARY 24, 2022<\/strong><\/p>\n

Brivo (\u201cthe Company\u201d) \u2013 the global leader in cloud-based access control and smart building technologies that recently entered into a definitive merger agreement with Crown PropTech Acquisitions (NYSE: CPTK) \u2013 today announced it expects to outperform its initial 2021 revenue outlook. The Company expects full year 2021 total revenue to be between $71.6 million to $72.5 million, up from its prior expectation of $71.6 million.<\/p>\n

\u201cWe are pleased to be delivering strong results in the fourth quarter, resulting in expected full year 2021 revenue growth of more than 25% and exceeding our prior expectations,\u201d said Steve Van Till, founder and CEO of Brivo. \u201cThese results reflect the breadth of our solutions, which are increasingly important as companies seek cloud-based solutions to manage their diverse and changing real estate needs.\u201d<\/p>\n

This press release is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination (the \u201cproposed business combination\u201d) between Brivo, Inc. (\u201cBrivo\u201d) and Crown PropTech Acquisition Corp. (\u201cCrown\u201d) and related transactions and for no other purpose.<\/p>\n

The information presented herein represents our preliminary estimates based on currently available information, is not a comprehensive statement of our financial results our operating performance and is subject to change. We have provided a range for revenue primarily because our financial closing procedures for the year ended December 31, 2021 are not yet complete and, as a result, our final results upon completion of our closing procedures may vary from the preliminary estimate. These estimates should not be viewed as a substitute for our full annual financial statements prepared in accordance with generally accepted accounting principles in the United States, or GAAP.<\/p>\n

Forward Looking Statements<\/strong>
\nThis press release includes \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201ctarget\u201d or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches, potential benefits of the proposed business combination and the potential success of Brivo\u2019s go-to-market strategy, and expectations related to the terms and timing of the proposed business combination. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Brivo\u2019s and Crown\u2019s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Brivo and Crown. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the shareholders of Crown or Brivo is not obtained; the lack of third party valuation in determining whether or not to pursue the proposed business combination; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Brivo; the risk that the conditions to the financing for the proposed business combination may not be satisfied or waived; the effect of the announcement or pendency of the proposed business combination on Brivo\u2019s business relationships, performance and business generally; risks that the proposed business combination disrupts current plans of Brivo and potential difficulties in Brivo employee retention as a result of the proposed business combination; the ability to implement business plans, forecasts and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; Brivo\u2019s ability to attract and retain customers; the combined company\u2019s ability to up-sell and cross-sell to customers, including the success of Brivo\u2019s customers\u2019 development programs, which will drive future revenues; the ability of the combined company to compete effectively and its ability to manage growth; the amount of redemption requests made by Crown\u2019s public shareholders; the ability of Crown or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; the risk that the combined company\u2019s securities will not be approved for listed on the New York Stock Exchange or if approved, maintain the listing; and those factors discussed in Crown\u2019s final prospectus dated February 8, 2021 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, dated August 16, 2021, and, when available, the preliminary proxy statement\/prospectus of Crown related to the proposed business combination, in each case, under the heading \u201cRisk Factors,\u201d and other documents of Crown filed, or to be filed, with the Securities and Exchange Commission (\u201cSEC\u201d). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Crown nor Brivo presently know or that Crown and Brivo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Crown\u2019s and Brivo\u2019s expectations, plans or forecasts of future events and views as of the date of this presentation. Crown and Brivo anticipate that subsequent events and developments will cause Crown\u2019s and Brivo\u2019s assessments to change. However, while Crown and Brivo may elect to update these forward-looking statements at some point in the future, Crown and Brivo specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Crown\u2019s and Brivo\u2019s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.<\/p>\n

Additional Information About the Proposed Business Combination and Where To Find It<\/strong>
\nThe proposed business combination will be submitted to shareholders of Crown for their consideration. Crown intends to file a registration statement on Form S-4 (the \u201cRegistration Statement\u201d) with the SEC which will include preliminary and definitive proxy statements to be distributed to Crown\u2019s shareholders in connection with Crown\u2019s solicitation for proxies for the vote by Crown\u2019s shareholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Brivo\u2019s shareholders in connection with the completion of the proposed business combination. After the Registration Statement has been filed and declared effective, Crown will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed business combination. Crown\u2019s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement \/ prospectus and any amendments thereto and, once available, the definitive proxy statement \/ prospectus, in connection with Crown\u2019s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about Crown, Brivo and the proposed business combination. Shareholders may also obtain a copy of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by Crown, without charge, at the SEC\u2019s website located at www.sec.gov<\/a> or by directing a request to 667 Madison Avenue, 12th Floor, New York, NY 10065, attention: Nikki Sacks.<\/p>\n

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.<\/p>\n

Participants in the Solicitation<\/strong>
\nCrown, Brivo and certain of their respective directors, executive officers and other members of management, employees and consultants may, under SEC rules, be deemed to be participants in the solicitations of proxies from Crown\u2019s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Crown\u2019s shareholders in connection with the proposed business combination will be set forth in Crown\u2019s proxy statement \/ prospectus when it is filed with the SEC. You can find more information about Crown\u2019s directors and executive officers in Crown\u2019s final prospectus dated February 8, 2021 and filed with the SEC on February 10, 2021. Additional
\ninformation regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement \/ prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement \/ prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.<\/p>\n

No Offer or Solicitation<\/strong>
\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.<\/p>\n","protected":false},"excerpt":{"rendered":"

BETHESDA, MD., JANUARY 24, 2022 Brivo (\u201cthe Company\u201d) \u2013 the global leader in cloud-based access control and smart building technologies that recently entered into a definitive merger agreement with Crown PropTech Acquisitions (NYSE: CPTK) \u2013 today announced it expects to outperform its initial 2021 revenue outlook. The Company expects full year 2021 total revenue to […]<\/p>\n","protected":false},"featured_media":27412941,"template":"","meta":{"_acf_changed":false},"product_line":[212],"news_type":[246],"platform":[],"access_control":[224],"video_surveillance":[],"operations_administration":[],"class_list":["post-27411460","newsroom_item","type-newsroom_item","status-publish","has-post-thumbnail","hentry","product_line-access","news_type-press","access_control-access-control"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t