Audinate (AD8) revenue guidance impresses
AD8 +0.57%: a positive sales update from the Audio-Visual hardware & software company failed to really ignite the share price. Audinate now expects revenue of over $US30m in FY22 after positive momentum in March & April continued throughout May. The guidance sits at least 5% above consensus expectations for the year and shows the company has continued to navigate short supply in the semiconductor industry positively. Missing from the release was an update on gross margins which were running over 75% at the end of April, but are expected to fall as higher input costs flowed into the cost of goods sold, though pricing increases have been pushed through the suite of Audinate products.
MM is bullish & long AD8 in the Emerging Companies Portfolio
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