ALU +2.98%: held its AGM today and provided a positive trading update that suggests FY22 upgrades within their previously stated guidance range are on the cards in February. Management commentary highlighted a strong first four months of FY22 across the entire Altium group as momentum returns to the business – it was actually one of the more upbeat CEO discussions I’ve been on this AGM season. As a refresher, they have guided to revenue US$209-217m (16-20% growth), underlying EBITDA margin of 34-36% and ARR growth of 23-27%. In terms of revenue consensus implies 17% growth so some upside to that numbers seems like.
MM remains bullish ALU
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