AUDINATE GROUP LIMITED (AD8)
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AD8

AD8 - AUDINATE GROUP LIMITED

FNArena Sector : Hardware & Equipment
Year End: June
GICS Industry Group : Technology Hardware & Equipment
Debt/EBITDA: 11.66
Index: ASX300 | ALL-ORDS | ALL-TECH

Audinate is a global provider of professional digital audio networking technology. Its Dante platform distributes digital audio and visual signals over computer networks. The company listed in 2017.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.71

27 Aug
2025

-0.180

OPEN

$4.88

-3.68%

HIGH

$4.88

713,277

LOW

$4.70

TARGET
$6.825 44.9% upside
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
AD8: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 7.7 - 17.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-7.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx62.1 M
Book Value Per Share xxxxxxxxxxxxxxx198.3
Net Operating Cash Flow xxxxxxxxxxxxxxx7.5 M
Net Profit Margin xxxxxxxxxxxxxxx-10.28 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-3.80 %
Return on Invested Capital xxxxxxxxxxxxxxx-3.76 %
Return on Assets xxxxxxxxxxxxxxx-3.43 %
Return on Equity xxxxxxxxxxxxxxx-3.80 %
Return on Total Capital xxxxxxxxxxxxxxx-9.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx6.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx1 M
Total Debt xxxxxxxxxxxxxxx3 M
Goodwill - Gross xxxxxxxxxxxxxxx10 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx110 M
Price To Book Value xxxxxxxxxxxxxxx3.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx13.3 M
Capex % of Sales xxxxxxxxxxxxxxx21.49 %
Cost of Goods Sold xxxxxxxxxxxxxxx63 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx15 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Shaw and Partners

xx/xx/xxxx

3

xxxx, xxxx xxxx

$xx.xx

xx.xx%

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Morgan Stanley

19/08/2025

1

Overweight

$11.00

133.55%

Morgan Stanley notes Audinate Group's FY25 revenue was in line with expectations and US$32.9m gross profit beat consensus by 6%.

The FY26 guidance was mixed as 13-15% gross profit growth implies a -4% miss vs consensus. The broker notes market is already priced for softer FY26 gross profit outlook but the guidance is still lower than expectations.

On the positive side, long-term incentives, while reset lower, still point to confidence in gross profit acceleration beyond FY27, the broker highlights.

Overweight. Target price $11. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -8.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of minus -3.00 cents.

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

20/08/2025

1

Buy

$8.50

80.47%

Audinate Group reported FY25 revenue of $62m, down -33% year-on-year but in line with expectations, observes Canaccord Genuity.

Hardware sales fell -50% while software rose 11%, lifting gross margins to 82% but leaving gross profit down -26% to $51m. Earnings (EBITDA) were $1.9m at a 2% margin, below the broker's forecasts, with higher opex from headcount and sales investment.

The analysts note investors reacted negatively to the 25% increase in FY26 opex guidance to -$78m, which is set to fund the Iris platform launch and Dante expansion.

This guidance implies to the analysts accelerating losses despite only modest gross profit growth of 13-15%.

FY26 revenue guidance of circa $70m is slightly below consensus, with tariffs and deferred spending weighing on near-term demand, explains the broker. 

Adoption of Dante solutions remains strong, notes Canaccord, with more OEM products and design wins.

The broker highlights video growth slowed but the Iris acquisition should expand addressable units by around 1m devices and strengthen control capabilities.

While cash burn remains high, net cash of $73m provides funding for growth, though free cash flow positivity is delayed to FY29.

Canaccord lowers its target price to $8.50 from $10.50 and maintains a Buy rating.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -10.90 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -6.40 cents.
Access Extra Coverage Research History >

AD8 STOCK CHART

FNArena News on AD8

1
Weekly Ratings, Targets, Forecast Changes – 22-08-25

Aug 25 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 20, 2025

Aug 20 2025 - Daily Market Reports
3
Rudi’s View: Early August Signals & Observations

Aug 20 2025 - Rudi's View
4
FNArena Corporate Results Monitor – 19-08-2025

Aug 19 2025 - Australia
5
Rudi’s View: Taking Stock Ahead Of August

Jul 30 2025 - Rudi's View

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