IPDROM Loses a Third of Its Revenue: 1.2 Billion Rubles and Profit Down 73%

IPDROM, a Russian maker of video surveillance equipment, ended 2025 with revenue of about 1.2 billion rubles. That is 34.9% less than in 2024, when the company earned 1.85 billion. Net profit fell even harder: from 39 million to 10.5 million rubles, a drop of 73.2%. The figures come from the financial statements of OOO IPDROM published on the FNS website. TAdviser found them on 25 September 2026.

What the financial statements show

The company develops and supplies cameras, video recorders and related video surveillance solutions. Annual revenue shrank by roughly 650 million rubles. Profit fell faster than revenue, which is an important signal: costs did not drop in proportion to sales. Some of those costs are probably fixed, such as salaries, warehousing, development and warranty servicing.

Simple arithmetic gives the net profit margin. In 2024 it was about 2.1% (39 million out of 1.85 billion). In 2025 it was about 0.9% (10.5 million out of 1.2 billion). For a hardware supplier squeezed on price by integrators and Asian competitors, that is a very thin safety margin.

Key figures from the statements:

• 2025 revenue: 1.2 billion rubles (−34.9% versus 2024);
• 2024 revenue: 1.85 billion rubles;
• 2025 net profit: 10.5 million rubles (−73.2%);
• 2024 net profit: 39 million rubles;
• net margin: from ~2.1% to ~0.9%.

What the numbers do not show

Financial statements filed with the FNS show results, not mechanics. They do not reveal which product lines declined, whether sales fell in units or in money terms, how component purchase prices changed, or how much the company earned from government customers versus commercial projects. They also do not say whether the high 2024 base was a one-off, for example because of large contracts.

Any explanation therefore remains a hypothesis. Possible factors include customers' budget reallocation, price pressure from competitors, swings in the exchange rate and in the cost of imported components, and changes in sales channels. The data itself confirms none of these, and the company has not commented on them publicly.

How practitioners should read this news

For the video surveillance market, the takeaway is a cautious one. A single reporting year does not make a trend, but a one-third drop combined with near-zero profitability deserves attention from anyone who specifies the company's products in projects.

What integrators and corporate customers should check:

• warranty terms and duration for the equipment, especially in multi-year projects;
• the firmware update policy and support for models already installed at sites;
• warehouse stock levels and lead times for large volumes;
• plans for on-camera analytics: that requires compute chips and a development team, and a 0.9% margin leaves little room for R&D.

Those following the industry should wait for the 2026 financial statements and compare them with data from other Russian manufacturers. If the slump turns out to be segment-wide, this is a story about the market. If it is only IPDROM, it is a story about one company.