Audinate's bread & butter growth strategy

Shares of Australian listed company Audinate Group (AD8) have surged to touch a record high, after the provider of audio-visual networking technologies posted half year net profit after tax of $4.7 million compared to the $0.4 million loss a year ago. Audinate CEO Aidan Williams says it’s been an excellent first half largely due to the video adoption side of the business. 

Aidan says the bread and butter for the business is still selling its technology to manufacturing of professional audio and visual equipment. When it comes to revenue the company makes the bulk of its revenue from selling chips or software solutions, but now with the addition of its new program Dante Director, Aiden says the company is opening up a new value chain, opening up a whole new revenue opportunity. 

Looking ahead Audinate has forecasted growth in gross profit for full-year 2024 that will be consistent with historical performance. Lastly, Aidan weighs in on any economic pressures the company may face. He says one of the good things about Audinate is that it is a technology company that is growing consistently and is able to manage any economic downturns without laying off stacks of people.