AD8 +10.04%: a record half for the audio-visual hardware and software company, further boosted by favourable FX. Revenue of $US20.6m and EBITDA at $US 4.3m were new highs for Audinate and were in line with the most bullish analyst expectations. The only black mark on the result was a bigger contribution from Video which saw margins fall. The backlog of orders provides a solid line of sight for further growth in the second half, while the software contribution is tracking ahead of expectations. Overall a strong start to the year which de-risks Audinate’s growth outlook.
MM is bullish and long AD8 in the Emerging Companies Portfolio
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