AD8 -3.75%: first half numbers for the audio visual technology company were out this morning. Revenue was in line with expectations at $US14.8m in the half, up 33%. EBITDA ($2m) and profit (-$2.1m) were slight misses to expectations however these are less of a focus. The hardware side of the business maintained its dominance in the space with 42% revenue growth on 1H21, now 19x its nearest competitor in terms of number of products. The volume growth shows that Audinate is doing well to manage supply chain issues, though the outlook statement was cautious. We believe the headwinds facing Audinate at the moment will pass and the business is set to see a strong tailwind of demand as mobility picks up.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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MM liked AD8 into current weakness around $7.40
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