AD8 -8.67%: Q1 update today for the audio/visual tech business. While the new financial year has started well, supply chain issues weighed on the stock today. Revenue was up to $US7.6m, +46% on pcp, a record quarter for the business. They did flag continued issues in sourcing silicon microchips out of Korea which ahs seen the backlog of orders grow to $US14.8m which is expected to impact through the second half of FY22. In an effort to limit the impact, Audinate have brought forward the next generation of product, though this won’t be available until the 4th quarter. The stock is not overly cheap still, though they have built a strong buffer ahead of their nearest competitors which should bear fruit once these issues pass.
MM is neutral AD8 here
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