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 EBITDA +41% to $4.3m, which was the top end of their previously guided range. They did report a net loss for the year of $4.5m which was a negative surprise. All in all, a decent result from a company that has run strongly in the last few months.
MM remains long & bullish AD8
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