Volume 14 | April 25, 2025

This Weeks Featured Articles & Media

Video |  Conversations with Lee | Featuring Gareth Robinson

Article 1 | A wake-up call for Biometrics

Article 2 | ASSA ABLOY vs. Allegion Q1 2025 Performance and how we can compare those to major companies

Podcast | Launching of the East to West podcast series

Show | Why ACS?

Video | ISC West 2025 - Bouchon Breakfast

Find them all below!

This week on Conversations with Lee, we had the pleasure of speaking with Gareth Robinson, Solutions Manager at 2N, a global leader in IP communications and systems solutions. With over seven years of experience at 2N, Gareth brings a wealth of knowledge about the company and its industry impact.

In this episode, we explore the remarkable evolution of 2N, delving into how the company has grown and adapted over the years. We also dive into the fascinating story behind the three visionary founders who had the foresight to bet on IP intercoms long before they became the industry standard. Their innovative thinking and willingness to challenge conventional approaches revolutionized the market and paved the way for 2N’s leadership in the field.

Tune in to hear more about 2N's journey, the pivotal moments that shaped the company’s success, and how their pioneering spirit continues to drive innovation in the world of IP communication solutions. Don’t miss this insightful conversation!

When Dystopia Wins: A Wake-Up Call for Biometrics

The biometrics industry just got a crystal-clear example of its biggest challenge — and it happened just a mile from my house, thanks to a sharp post by my neighbor, Daniel I. Levy.

It’s the classic dilemma we keep running into: the struggle to communicate real-world value versus the ease and viral appeal of dystopian narratives. This incident perfectly encapsulates what I wrote about recently: the core challenge facing biometrics adoption isn’t technical. It’s one we’ve created ourselves.

Daniel’s post is already resonating far beyond our professional bubble. It’s being seen and understood by people outside the industry, reaching a broader and more mainstream audience than the combined efforts of all biometrics companies’ content ever will.

And how does the industry respond? Predictably, with a fragmented chorus. Every company and vendor jumps in to promote their specific solution as the answer, rather than rallying around a united front.

Meanwhile, the fear-driven narratives take off with lightning speed, while our collective value proposition remains diluted, disjointed, and largely ignored.

Until the biometrics industry can align behind a strong, cohesive story — one that clearly articulates the benefits and purpose of this technology — we’ll keep shouting into the void. Scattered grains of rice never make a meaningful heap. It’s time we start moving as one.

Interested in ASSA ABLOY vs. Allegion Q1 2025 Performance? Good, we have it here:

In a tale of two of the largest security companies in the industry, ASSA ABLOY and Allegion show different paths to growth in Q1 2025. While ASSA ABLOY achieved 8% revenue growth largely through acquisitions, Allegion demonstrated strong organic growth at 5.4%. The contrast in their strategies is striking - ASSA ABLOY's aggressive acquisition approach (six companies, ~$340M in annual sales) versus Allegion's focus on operational efficiency, achieving an impressive 22.7% operating margin.Want to dive deeper into how these industry leaders are navigating market challenges and what it means for the future of security hardware? Read more here and here.

Breaking: ASSA ABLOY Group Q1 2025 Report Released   Call it “steady in… | Lee Odess

Call it “steady in a challenging market,” and it indicates what’s happening for others (without the M&A help). With ongoing macroeconomic headwinds (tariff concerns, high interest rates), they delivered 2% organic growth and total sales up 8% to SEK 37.9 B.

Key takeaways:

• Positive aftermarket exposure continues to help

• Global Technologies division leads with 8% organic growth

• Operating income up 4% to SEK 5.6B (margins slightly compressed at 14.9%)

• 6 acquisitions completed, adding SEK 3.6B in annual sales

• New Manufacturing Footprint Program launched with ~SEK 1B annual savings target

• EPS increased 3% to SEK 3.20

• Cash conversion at 51% (down from 67% last year)

• Operating cash flow decreased 22% to SEK 2.4B (affected by inventory build-up preparing for tariffs)

• Regional performance varied: Americas good (+2%), EMEIA flat, Asia Pacific down (-5%)

• North America Residential segment is declining due to high interest rates

• Expected -5% currency headwind on sales for Q2

The focus on electromechanical transition and emerging markets positions them well for the long term, even if current market conditions remain challenging in the short term (question for all of us: how long is this going to last and how deep?). The margin pressure (down 140bps from acquisitions/divestments) is worth watching, but appears mostly temporary. The 60% operating leverage from price realization and cost management shows strong execution. I’ll dive deeper into it with The Access Control Executive Brief Member Slack. If you aren’t a member, consider joining in the deeper conversation.

Breaking: Allegion ‘s Q1 2025 results announced.   The company is… | Lee Odess

The company is showing some real resilience (thanks to the Allegion US), revenue up 5.4% to $941.9M with adjusted EPS increasing 20% to $1.86. What stands out to me is their Americas non-residential business - up high single digits while residential declined mid-single digits...and lack of mention of International results.

Looking into the numbers, the International segment's 0.3% revenue decline and 20 basis point drop in adjusted operating margin to 10.2% speak volumes. At this point it’s a pattern and trend.

The margin story for the overall business is impressive - adjusted operating margin up 150 basis points to 22.7%. This speaks to their operational discipline in a challenging environment.

Smart moves with 2 acquisitions (Next Door Company and Lemaar Pty Ltd) expanding their core business and leveraging channel strengths. With cash and equivalents of $494.5M against $1.99B in debt, they're positioned for more strategic moves and I’d expect more - maybe in electronics vs hardware or doors?

For the full year, they' re maintaining an outlook of 1-3% reported growth while noting potential upside if current tariff-related pricing actions and FX rates persist.Solid execution.

I’ll share more and how this compares to ASSA ABLOY Group quarterly reports from yesterday in The Access Control Executive Brief Slack.

Exciting News: Announcing West to East — A Monthly Industry Podcast from RX, SIA, and ACEB!

We are thrilled to officially announce the launch of "West to East," a brand-new monthly podcast created in partnership with RX and the Security Industry Association (SIA). This series is designed to bring the security industry closer together — connecting insights and experiences from ISC West to ISC East, and offering fresh perspectives from both inside and outside the conference halls.

We’re building something that goes beyond just recaps and talking points. West to East is about creating a dynamic, ongoing conversation that explores where the industry is heading, what’s working (and what’s not), and how security professionals across all roles and verticals are thinking about the future.

Each episode will follow a two-part structure:

1. Segment One: A featured conversation with a SIA staff member, board member, or RX executive, digging into key themes shaping the security industry — from trends in show content and education to broader market dynamics and strategic initiatives.

2. Segment Two: Real-world reflections from an ACEB member who’s either attended ISC West or is preparing to attend ISC East. These voices will bring a boots-on-the-ground perspective and help tie the episode’s topic to actionable insights and takeaways for peers across the industry.

This format ensures each episode delivers both insider context and real-life relevance — a blend that reflects the diversity and depth of our community.

1. Episode 1 (May): Don Erickson (SIA & ISC West) – A closer look at SIA-led content, initiatives, and how this year’s ISC West compares to past years.

2. Episode 2 (June): Mary Beth Shaughnessy – A data-driven recap of ISC West, with key takeaways and performance by the numbers.

3. Episode 3 (July):– A deep dive into tradeshow trends, attendee behaviors, and how shows are evolving.

4. Episode 4 (August):– Spotlight on innovative companies to watch in the months ahead.

5. Episode 5 (September): – What’s new and noteworthy at ISC East, with a focus on educational content and new show features.

6. Episode 6 (October):– A first-hand look at industry challenges and needs from an end user’s POV.

7. Episode 7 (November): Hilary Gallagher and Lee Odess – A practical guide to ISC East: what to expect, what not to miss, and how to make the most of it.

8. Episode 8 (December): – A full ISC East review, with reflections on what worked and what we learned.

9. Episode 9 (January): Mary Beth Shaughnessy– An early look at what’s in store for ISC West 2026.

10. Episode 10 (February): – A forward-looking episode focused on where the industry is headed in 2026 and beyond.

11. Episode 11 (March): – Reflections on how things have changed since ISC West 2025 — and what those changes mean.

12. Episode 12 (April): Don Erickson & Mary Beth Shaughnessy – A full ISC West 2026 wrap-up and reflections on where we go from here.

Want to Be Featured? Let’s Talk.

We’re reserving just 12 exclusive guest spots for ACEB members to be featured in the second segment of each episode. If you have experience, perspective, or a story to share from ISC West or ISC East — or you’re preparing for one of the shows — we’d love to include your voice in the conversation.

Participation is easy, and it’s a great way to contribute to the industry conversation, raise your profile, and help others learn from your experience.

Whether you’re an exhibitor, attendee, or somewhere in between, West to East is your chance to stay connected with the pulse of the security industry year-round.

If you’re interested in being part of this project, just reach out. We’d love to have you on the mic.

Let’s keep the conversation going — from West to East.

We launched this conference with a clear purpose: to give the industry the bold, unapologetic voice it truly needs. For too long, the conversation around innovation and progress has been stuck in a loop—an echo chamber of technical jargon and safe, sanitized talking points. We've seen a rise in corporate groupthink, where originality is stifled and genuine thought leadership is replaced with buzzwords and empty platitudes. This event is our answer to that. It's a space where real ideas can be shared without filters, where challenging the status quo is not just encouraged but expected, and where authenticity cuts through the noise. We're here to provoke, to inspire, and to reshape the conversation—because the future of this industry depends on it.

Join us May 28-29th in San Sebastián, Spain. Register here.

The FAST Breakfast at ISC West was more than just a morning of coffee and croissants at Bouchon (though let’s be honest — we absolutely delivered on that front). It was a meaningful gathering with a bigger purpose: investing in the future of the security industry by supporting the mission of the Foundation for Advancing Security Talent (FAST).

FAST is dedicated to building real, lasting career pathways in the technology that safeguards people, places, and property. It’s about ensuring that the next generation of talent has the tools, guidance, and opportunities they need to thrive in this critical field.

A huge thank-you to Wesco, SwiftConnect, Scott Dunn, and everyone who came out to champion this important cause. Your support fuels the momentum and makes it all possible.

And yes — we’re doing it again next year. Same time, same place. Let’s keep building the future, together.

Click here to get involved in FAST.