Audinate Group Ltd. ( (AU:AD8) ) has issued an announcement.
Audinate Group Ltd. has responded to an ASX inquiry regarding its half-year results and share price movement, stating that its earnings for the period ending December 31, 2024, did not materially differ from market expectations. The company reported a gross profit of US$15.5 million for the first half of FY25, which was slightly above the expected US$14.4 million, reflecting a 7.6% variance. Despite a decrease in revenue by 8.7%, the gross profit variance was only 1.9% below analyst consensus, indicating stable performance amidst ongoing trading challenges. Audinate’s focus on gross profit as a key performance metric aligns with its strategy to provide consistent market guidance unaffected by currency fluctuations.
More about Audinate Group Ltd.
Audinate Group Ltd. operates in the audio networking industry, primarily providing digital audio networking solutions. The company’s key product, Dante, is widely used for transmitting high-quality audio over long distances with low latency, catering to the professional audio-visual market.
YTD Price Performance: 4.67%
Average Trading Volume: 1,074
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $471.5M
Learn more about AD8 stock on TipRanks’ Stock Analysis page.