Atomos Ltd. (AU:AMS) has released an update.
Atomos Ltd reported a revenue decline of 16% to $35.7 million in FY24, but highlighted a significant improvement in EBITDA with better margins and tighter expense control. Despite the revenue drop, gross profit surged to $11.2 million, a notable increase from the previous year, with a gross profit percentage rise from 11% to 31%. The company did not issue dividends and reported non-recurring costs of $7.3 million, including provisions for inventory obsolescence and restructuring costs.
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