Audinate Group Limited

ASX:AD8

Audinate Group Limited

ASX:AD8
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$8.47 (-5.5%)
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#5
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93
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Pinned straw:
actionman
Last edited 9 months ago

Audinate delivers record revenue and EBITDA in 1H24

Key 1H24 financial highlights:

• Revenue increased 47.7% on 1H23 to US$30.4 million (A$46.6 million)

• Gross profit (GP) of US$21.8 million, up 50.1% – gross margin of 71.8%

• EBITDA of A$10.1 million, up 137% on 1H23

• Net profit after tax of A$4.7 million, improved from A$0.4 million loss in 1H23

• Operating cash flow A$11.8 million, improved from A$1.8 million in 1H23

• Strong cash and term deposits balance of A$111.7 million 
Strawman
Added 9 months ago

Hard to fault Audinate's results today, let alone a 20% share price jump. Not bad for a >$1 billion company!

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I guess there's a reason it's the most heavily owned stock across Strawman :)

(I only wish I had the same good sense to buy..)

Another example of giving high quality businesses a lot of rope in terms of valuation. Especially as they demonstrate effective scaling!

The P/E looks pretty high, but Audinate grew gross profit by 34% last year and said today that they expected similar growth in FY24. So a bit of extrapolation on costs would suggest they should more or less double full year EBITDA. And there's still a lot of runway ahead for them.

I will have a crack at a very basic valuation.

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