25% and $10m down on revenue, with a $5.5m loss. Audinate announced last week record sales growth and profits.
I watched the webinar and they highlighted stable 26% gross margins, I don't see this as something to highlight as 26% for a manufacturer is extremely low. Audinate are working on more than 70%.
They give no guidance, no metrics, no way to measure this company at all. The closest we got was at the end of the webinar they said we are 99% towards the budget for first 2 months of FY24'. But what's the budget based on? Assuming it's a revised down number based on the 25% revenue dip from last FY so in that context might also be bad news?
I'm in at 65cents and can't see a way back based on results delivered. I'm losing all confidence in birddog. Am I missing something? Anyone got a better take on this than I do?
BDT Price at posting:
13.0¢ Sentiment: None Disclosure: Held
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