ALU +2.38%: Held their AGM today and reconfirmed their FY23 guidance for revenue $255m to 265m, and still sees underlying EBITDA margin 35% to 37%. They talked to a solid first four months of fiscal 2023 year across the business with higher average revenue per user (ARPU) for PCB subscriptions as mainstream customers continue to adopt Pro-level platform capabilities in tandem with the growing uptake of Term-Based Licences. They went on to talk about their FY26 aspirational revenue target of $500m per annum, saying they now believe this will be achieved from a base of 75,000 to 90,000 subscriptions rather than 100,000 seats. A good update from a great company!
MM remains long & bullish ALU
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