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Audinate Group Ltd. ( (AU:AD8) ) has provided an announcement.
Audinate Group Limited reported a significant decline in its half-year financial results for the period ending December 31, 2024, with revenues dropping by 38.4% to $28.7 million and EBITDA plummeting by 91.5% to $0.8 million. This downturn was primarily attributed to a decrease in demand for its hardware products as customers ran down existing inventory, despite an improved gross margin due to higher software sales. The company experienced an increased net loss after tax of $2.2 million, compared to a net profit of $4.7 million in the previous corresponding period. Additionally, operating expenses saw a slight decrease, but the rise in depreciation and amortization expenses contributed to the financial challenges faced by Audinate during this period.
More about Audinate Group Ltd.
Audinate Group Limited operates in the technology industry, specializing in the development of networking software and hardware for the professional audio-visual market. The company’s primary products include chips, cards, and modules, with a focus on the Dante platform, which is widely used for connecting audio systems over IT networks.
YTD Price Performance: 4.67%
Average Trading Volume: 1,074
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $401.5M
See more insights into AD8 stock on TipRanks’ Stock Analysis page.
