Audinate Group (AD8) H2 2026 earnings summary

Executive summary

• Celebrated 20th anniversary, reflecting on growth, strategic evolution, and strong foundation for future opportunities.

• Dante networking technology expanded to over 8 million devices, 5,158 products, and 542 OEM partners globally.

• FY26 revenue reached US$46.0 million (A$67.8 million), up 14.9% year-over-year, with gross profit of US$37.7 million.

• Strategic focus on expanding product offerings into video and control, highlighted by the Iris acquisition and organizational realignment.

• Major platform investments and cost base restructuring position the company for the next phase of growth.

Financial highlights

• FY26 revenue grew 14.9% to US$46.0 million (A$67.8 million), with gross profit up 14.7% to US$37.7 million and gross margin stable at 82.0%.

• Underlying EBITDA was a loss of A$3.6 million, down from a profit of A$0.7 million in FY25, reflecting investment in new products and restructuring.

• Net loss after tax widened to A$19.6 million, driven by higher operating expenses and acquisition-related charges.

• Cash and term deposits at year-end were A$65.1 million, with no external debt.

• Operating cash flow positive at A$1.2 million, but down from A$7.4 million in FY25 due to acquisition and restructuring.

Outlook and guidance

• FY27 guidance: revenue and gross profit growth in line with or slightly ahead of FY26, with gross margins maintained at ~82% and flat operating costs.

• Pathway to positive free cash flow expected by FY28, with stronger operating cash flow in FY27.

• CapEx expected to be around A$13 million in FY27.

• Iris not expected to be cash flow positive in FY27, but improvement anticipated as subscriber base scales.

• Continued investment in new product development, geographic expansion, and deeper customer engagement.