Interesting @Mujo that audio equipment is getting whacked - freedom of speech transmission!

It might be wishful thinking on my part but I think this probably helps Audinate more than it hurts them in the longer term.

When there's industry headwinds in the short term this should favour the incumbants as it should be a less attractive destination for capital from those with other options / less conviction.

For video however, they are not he biggest player. NDI is the biggest and have been investing fairly aggressively in product dev recently - this looks like a competitive response to Dante product dev and growth in video to me.

However NDI is PE backed - owned by Virtz which is in turn owned by Nordic Capital Fund X. This fund is focused on Healthcare, Technology & Payments, and Financial Services sectors. So I expect there will be plenty of internal competition for growth funds. If Pro-AV growth is slowing as AD8 and others have said it is, there could be a better use of capital for a multi industry fund like Nordic Capital Fund X.

Audinate however are cashed up and investing heavily via M&A and organically despite the current slowdown.

This is exactly the sort of long term thinking I would hope for from a business chasing a big pot of gold at the end of a potential winner takes all rainbow.

Or it might just be wishful thinking on my part...

Disc: Held.