Atomos requested voluntary suspension, under listing rule 17.2, pending the release of HY23 financial statements.

Trading commences 15 March 2023 or earlier lodgement of the financial report.

This suspension was requested as there is some unresolved matters which will delay the auditors review of the financial report.

Red flags galore with AMS.

Atomos released their FY22 result today.

The FY22 webinar will be held today at 11am and also 12pm on Wednesday.

You can join here:

11:00am Tuesday- https://us02web.zoom.us/webinar/register/WN_vg__EERMSHGwhQ4xbHhtCQ

12:00pm Wednesday- https://us02web.zoom.us/webinar/register/WN_Ac9PZKEmTz-DOo-zErtVsQ

It will be interesting to hear if they tackle the departure and claim/complaint from previous CEO Estelle McGechie.

Atomos FY2022 results

Atomos met revised guidance of $80-$90m with $82m in revenue for FY22. Although this was at the lower end, I think the market was expecting a further downgrade with the share price jumping at 30% this morning.

Its notable that growth was only 4.3% year on year; However, majority of sales was seen in Q4 which had 37% growth pcp ($37m in sales).

Insiders have recently been buying shares.

Market cap is $50m (PS 0.60x)

Expected EBITDA 6-8%

Several members of the Atomos board and management team have been buying shares shares on market.

Approximately 3m shares (1.3%) of the shares outstanding have recently been bought back by insiders. This includes the CEO, CFO, COO and non-executive directors.

It seems that after the recent revenue downgrade and departure of the CEO, the current management team feel the company is undervalued and have taken the opportunity to increase their holdings.

Current market cap is $65m and expected revenue FY22 is $85-$90m. 1H22 PE is 23 but expecting reduced earnings for FY22 due to increased costs.

This is a good step by management to show a strong united belief in the future of the company. I continue to hold shares but as mentioned by others in the strawman community, the management team can’t keep on put another foot wrong or there may be even further downgrades.

Just to add to @Slideup Atomos post:

They have reduced revenue guidance by approx 10% and the share-price has fallen 50% off an already low base.

I agree that the departure of the original CEO, new CEO and now reduced guidance doesn't look good.

But, I think shares have been oversold based on this recent announcement.

The company has a lot of work to do to get share-holders back on their side.

I have purchased more shares in the sell-off. However, similar to @Slideup I will be keeping an eye out for any more bad news.

Current Market Cap is $75m for a company that should produce $85m in revenue for FY22 and is trending towards positive free cashflow.

The company is in a growing industry and developing products in the audio visual space with new products offering cloud compatibility and collaboration.

Atomos will be hosting a webinar tomorrow (Friday 22nd April at 9.30am) regarding the announcement of a new product.

We will also hear from the interim CEO Tevor Elbourne.

The following link can be used to register:

https://us02web.zoom.us/webinar/register/WN_Iv_KVGEzQmCHS9ce-I-cTg

Atomos released FY2021 results this morning,

Highlights:

- Increase in revenue by 77% to $78.6m

- Increased earnings from -$7.1m to +$8.2m ($15.3m increase)

- Strong cash position of $26m at the end of FY21 (FY20: $18.8m)

- Record 2H’21 revenue of $45.8m (288% up on pcp).
  

There is a webinar this morning at 9am with the CEO and CFO to go through the earnings results:

https://us02web.zoom.us/webinar/register/WN_sgp5c4neQtKNhg1sgrJ9BA