AD8 +9.64%: audio-visual technology business surprised the market with a strong earnings pre-release today. Revenue is now expected to come in around $US33.4m when they report next month, over 10% higher than the guidance provided in June, up 33.4% for the year. EBITDA is also expected to grow ~30% to between $US3.8-4.3m, well above expectations around $US1.2m. The company said a significant improvement in the semi-conductor market late in the year contributed to the improved numbers, giving them a strong launchpad for FY23 and beyond. Audinate is the market leader in the space.
MM remains bullish AD8, though we lightened our large overweight into strength today
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