Full Year 2024 Audinate Group Ltd Earnings Call Transcript
Key Points
- Audinate Group Ltd (ASX:AD8) achieved a record USD60 million in revenue for FY24, marking a 28.4% increase from FY23.
- Gross profit dollars grew by 33.2% to USD44.5 million, with a gross margin percentage of 74.3%.
- The company shipped a record 1.4 million units in FY24, with over 6 million Dante devices now in the field.
- The launch of Dante Director, a cloud-based SaaS product, represents a new revenue stream for Audinate.
- The number of OEMs developing their first Dante product increased to 161, up from 138 in the previous period.
- Audinate expects a revenue decline in FY25 due to manufacturers' increased preference for software-based Dante implementations.
- Many manufacturing customers have over-ordered chips and modules, leading to soft FY25 revenue.
- The end-of-life of the Viper and MY16 products will result in a loss of USD2.8 million in revenue for FY25.
- Lead times are shortening, reducing future order visibility and backlog going into FY25.
- Operating expenses increased by 21% to USD47.5 million for the year ended June 30, 2024, driven by higher employee costs and marketing expenses.
Good morning, everyone. Thank you for joining our call today. My name is Aidan Williams, I'm co-founder and CEO at Audinate. And with me is Rob Goss, our CFO.
In the first part of the call today, we will be talking through the investor presentation that accompanied our financial statements, both of which were lodged with the ASX earlier today. You can ask questions at any time by typing them into the Q&A box that you should find in your Zoom client. At the end of the presentation, we will collate all those questions, and we'll answer as many as we can in the time that we have available.
Before getting into the details of the full year results presentation, I'd like to briefly recap our earlier announcement on Tuesday, the August 6, before moving into the substance of our full year release. The trigger for this announcement was the Board approval of our FY25 budget after which it was considered appropriate to make an announcement in light of our continuous disclosure obligations.
As
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
