08/11/2023 09:20

Audinate (AD8) $13.00

The audio-visual technology company has been a significant driver of strong performance in the Emerging Companies Portfolio, particularly over 2023, where the stock is up over 70%. FY23 results were well ahead of market expectations which saw the stock re-rate and surge higher in August. More recently, the company raised $70m through a placement and Share Purchase Plan (SPP), which has further strengthened its balance sheet and leaves it well-placed to look at M&A opportunities to add to its already impressive earnings growth trajectory.

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29/09/2023 08:42

Audinate (AD8) $13.59

The audio-visual technology company has a Share Purchase Plan that closes on Monday, October 3, allowing shareholders to bid for up to $30,000 of new shares at $13/sh. We currently hold a 4% weighting in the Emerging Companies portfolio, and with AD8 trading ~5% above the raise price, it makes sense to participate in the SPP.

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22/08/2023 09:49

Emerging Companies Portfolio – Amendments

We are reducing BAP & AD8, selling CAJ, buying SFR & CAT and adding to CNI in the Emerging Companies Portfolio.

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21/08/2023 17:21

Audinate (AD8) $11.40

AD8 +10.68%: the audio-visual company hit all-time highs today after posting record numbers in FY23, and hitting free cash flow positive in the second half. Revenue grew 40% to $US46.7m, around 7% ahead of consensus.

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13/02/2023 16:46

Audinate (AD8) $7.89

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.

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07/12/2022 09:29

Audinate (AD8) $7.89

The position is down nearly 6% since we flagged the software company that is big in audio now but has aspirations in video that are progressing. Last week, we attended a site tour at AD8 hearing from their international technology teams who were out visiting their offices in Surry Hills. This is a good company, with good people running it, a great...

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26/10/2022 09:46

Audinate (AD8) $8.38

The audio-visual chip maker rallied more than 10% yesterday on strong AGM comments – and we think this is just the start.

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14/09/2022 09:27

Emerging Companies Portfolio

The portfolio was up +7.72% in the week, outperforming the S&P/ASX Small Ords index which rallied +4.06%.  Cash in the portfolio fell to around 5% after we added Sandfire Resources (SFR) to the portfolio. The Copper miner was one of the standout performers in the week, rallying 16% since our purchase. Also supporting the outperformance was a 19% rally in lithium miner...

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24/08/2022 09:31

Emerging Companies Portfolio

The portfolio was down -6.31% in the week, underperforming the small ords. Cash in the portfolio is sitting at around 9% while the portfolio is now up 13.10% for the financial year to date. This week the losers were last week’s winners, Adore Beauty (ABY) -21.36%, having been up 50% the week before, while Audinate (AD8) fell -12.45% following their FY22 results.  Pilbara Minerals (PLS) +3.15%, unfortunately, was the only stock to make a positive contribution to performance.

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22/08/2022 17:28

Audinate (AD8) $8.80

AD8 -3.61%: FY22 result was largely pre-announced on 28 July 2022 when they upgraded however we got some more colour on their FY23 outlook for (1) Video to start ramping up delivering >US$3m in revenues; and (2) existing headcount of 178 could deliver 2x revenues in the medium term. Overall, revenue was up 33% for the year to $46.3m with...

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