Insights

Audinate (ASX:AD8) share price lifts on annual report

Shares in the audio tech company are bucking the downward trend of the broader market today
The post Audinate (ASX:AD8) share price lifts on annual report appeared first on The Motley Fool Australia. –

The Audinate Group Ltd (ASX: AD8) share price is edging higher in today’s session.

Shares in the audio tech company are currently up 0.19% to $10.56. This comes after the company released its annual report earlier today.

Let’s take a closer look at what’s buoying the Audinate share price.

What did Audinate announce?

Shares in Audinate are rising after the company released its annual report for FY21.

The company’s management lauded Audinate’s emergence from the uncertainty of the COVID-19 pandemic.

However, Audinate said supply chain uncertainties could impact the first half of FY22. As of 30 June 2021, the company noted record backlogs due to the temporary shutdown of its manufacturing line in Malaysia.

Despite the disruptions, Audinate does not expect new product delays to impact revenue given the ongoing strong demand from end-users.

For FY22, the company highlighted several priorities including;

Driving further design wins for Dante video and next generation software products;
Launching new Dante video software and cloud services products;
Improving adoption of Dante by non-English speakers; and
Implementing business scalability initiatives.

The positive annual report follows Audinate’s strong full-year report released late last month.

How did Audinate perform in FY21?

The Audinate share price bolted higher after the release of the company’s full-year results for FY21.

The company’s result was highlighted by a 22.5% increase in revenue of $33.4 million.

Other highlights included:

Gross profit increased 23.1% to US$19.2 million compared to prior year;

Earnings before interest, tax, depreciation, and amortisation (EBITDA) of A$3 million, up 50.1%;
Bottom line losses narrowed to A$3.4 million, a 17% improvement on FY20; and
Expanded into video products with launch of Bolin Technology and Patton Electronics.

Audinate attributed its strong report to a 62% surge in revenue from its software products. Additionally, the company also reported narrowing losses on its bottom line.

Snapshot of the Audinate share price

Audinate specialises in hardware and software solutions for the audio-visual (AV) market. The company’s flagship and award-winning Dante program is a global leader in AV connectivity.

Since the start of the year, shares in Audinate have soared by around 29%.

The Audinate share price is bucking the trend of the broader market today. At the time of writing, the All Ordinaries Index (ASX: XAO) is down 0.56%, while Audinate shares are up 0.19%.

The post Audinate (ASX:AD8) share price lifts on annual report appeared first on The Motley Fool Australia.

Should you invest $1,000 in Audinate right now?

Before you consider Audinate, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Audinate wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

3 growing mid cap ASX shares named as buys

Brokers think these 2 top ASX shares are buys in September 2021

Audinate (ASX:AD8) share price climbs as FY21 revenue surges 22%
The Audinate (ASX:AD8) share price tanked 7% last time the company reported
Brokers name 2 mid cap ASX shares as buys

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!