So if that’s helpful.
Larry Holub: Okay, no, very helpful. Thank you very much for your time. Appreciate it.
Saagar Govil: Sure.
Operator: Our next question comes from the line of [Alan Rosenthal] (ph) with Scarlett Knight Capital. Please proceed with your question.
Unidentified Analyst: Hi. So I’ve got a great quarter. Thank you for taking my questions. I have two, can you discuss the geographic composition really of the Vicon business that’s growing so rapidly right now, how much is domestic here in the United States, how much is foreign? And then a little add on to that, and also, you know, kind of where you see the growth in each, whether it’s outside the USA versus inside?
Saagar Govil: Yes, sure, happy to talk about that. So as we think about this past fiscal year, I would say most of the growth came domestically, you know. So, I would say it’s almost, it’s probably 85%, 90% U.S. or Domestic. I’d say probably 85% and 15% international out of that $34 million. Again, that’s just me off the cuff here. But I think what’s interesting really about this moment in time is that there’s just a — so in the United States, there’s enormous growth in terms of the need for security for organizations that hadn’t been as serious about it before. So schools, for instance, right, religious institutions, churches, synagogues. So they are now all spending more money than they ever had to because of just the nature of the world we live in today.
And so we are seeing growth here, right? And then obviously the innovation is driving the adoption of new technologies, AI and so forth. So I think that’s going to be the growth driver here in the U.S. Internationally it’s a little bit of a different story. And what’s really driving that there is just the growing middle class and the growing economies around the world, whether it’s Saudi Arabia, whether it’s India, Indonesia, Malaysia, and some of these economies that are starting to boom and have extremely high growth. And so in those economies you’re seeing a more a widespread deployment of security solutions, because they’re building so much infrastructure like train stations, like police stations, schools, hospitals. And so as these economies are building all of that, there’s going to be massive, massive opportunity for growth there as well.
And so I’d say we’re excited about both markets. I certainly don’t want to downplay the opportunity for us in the U.S., because I think it’s extremely promising. But I think some of the growth in some of these emerging markets can also be pretty fantastic as well for us. So frankly, we’re focused on both. But as I may have mentioned on prior calls, I mean, I think there’s opportunities to make it maybe a 50-50 split over time in terms of the amount of business we’re doing internationally versus domestically. And [Multiple Speakers] we’re definitely focused on growing long-term in international markets.
Unidentified Analyst: That’s excellent. It just actually made me think of another question here. What’s the average, when you get a new contract here and so on, could you discuss what’s the average, I guess, sale that you make? And if you see that number improving and kind of how that works, you know what I’m saying? So your average selling price on a solution, for example, kind of, describe how that works and if you’ve seen that number increase and what your expectation is? Because obviously, as you said, demand is surging here. So what are you seeing in terms of pricing?
Saagar Govil: Yes. I think giving you some rough math, I can tell you that a couple of years ago, our average order size was probably around 50,000. And I can tell you that this past year, that number was closer to 100,000, maybe even a little bit over.
Unidentified Analyst: Beautiful.
Saagar Govil: So I think there’s just a natural growth in terms of the kinds of projects we’re doing in terms of size. And we’re hopeful and optimistic that, that number will continue to grow, right? But then there’s also, there’s a lot of, like if we sell let’s say 100,000 systems over the next couple of years, we may sell a lot of smaller orders to continue to expand that system and support that customer. Maybe they expand the building or something like that. Maybe they want to add more cameras. So we do certainly benefit from some of that residual revenue. But I think in general, we are a systems solutions company. We sell generally on projects. And so I think the idea is that we want to be increasing the size of the number of orders, the size of the order — the average order that we’re getting in the organization.
