ALU +25.92%: A huge session for the software provider that underpins the design and manufacture of printed circuit boards (PCB’s) after they reported results overnight that were strong and ahead for FY23 and their guidance for FY24 was also better than consensus. For FY23, revenue of $263.3m was ~2% ahead of consensus driving a ~3% beat at the profit line thanks to strong subscriptions of 61.2k. For FY24 they have guided to revenue of $315-325m, versus the current consensus of $307m which is ~4% ahead at the midpoint.
- Commentary was positive and trends here are strong, simply a great update against conservative market positioning.
MM is bullish ALU
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