AD8 +19.89%: A very strong move today from AD8 on what was a largely pre-released FY24 result.
- FY24 revenue of $91.5 million, +31% y/y
- NPAT $10.2 million, -3.8% y/y
- Ebitda $20.4 million, +85% y/y
- Guidance inline with their recent update for USD gross profit marginally lower than FY24 on a likely decline in revenue in FY25
- & cost growth to be in the range of 7%-9% in FY25
We’re surprised by the extent of the rally today – though we’re pleased to see it – with the main positive new news (vs the recent downgrade to FY25 expectations) being the ongoing positive momentum in video in 2H24 and the inclusion of ‘disciplined examination of M&A opportunities’ as part of their guidance. Aside from that, it seemed today’s result was void of anything new, the market is clearly now looking past what the company describes as a ‘transitional year’ ahead into FY26 where growth will resume at a strong clip.
MM is sticking with our position in AD8
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