Ann: Trading Update, page-42

The trading update today gave a revised forecast for FY22 of $80m-$90m revenue and 6%-8% EBITDA. Subtracting H1 revenue ($40.9m) gives an updated forecast for H2 revenue of $39m-$49m. H1 EBITDA was 7.82%, so forecast H2 EBITDA is should still be 6%-8%. It looks like ATOMOS are today forecasting that their H2 numbers will be similar to H1, perhaps the revenue increasing slightly for H2 (by up to 20%). EBITDA % will be essentially unchanged. The forecast H1 and H2 ratios are actually not so different to previous years.

Obviously, the market is disappointed not to have H1+H2 at $95m+ and 10-15% EBITDA as per previous advice. That would have meant an FY22 EBITDA of ~$12m rather than ~$6.5m. But it looks like an overreaction that the market cap has been halved today, with a loss of ~$65m to the company valuation.

All IMHO, DYOR