Audinate Group Ltd. · ASX:AD8
Audinate — Shareholder Meeting (October 2024)
24 slides from Audinate's shareholder meeting presentation, Oct 22, 2024
Slide 1: Chairman's Speaker Notes
Audinate AGM 22 October 2024 - Chairman’s Speaker Notes Welcome. I imagine that much of everyone’s focus has already shifted to 2025 and beyond – that’s true for me as well. But I’d like to take a few moments in my presentation to review the performance of the company over the past few years, and to
Slide 2: Chairman's Speaker Notes (continued)
the same time, pushed our manufacturers to place orders further into the future than they had historically, in order to insure their supply of components from us. Both of these factors together resulted in historic backlog levels for Audinate. The return of chip supplies in FY24 enabled us to start
Slide 3: Audinate FY24 Annual General Meeting
Audinate FY24 Annual General Meeting Authorisation: approved by the Board 22 October 2024 of Audinate Group Limited
Slide 4: Chairman's Presentation
Chairman’s Presentation 2024 Annual General Meeting 2
Slide 5: Achievement FY24
Achievement FY24 FY24 OUTCOME TARGET A$91.5M FY21 (US$60M) Double revenue over medium- A$33.4M term (US$25M) 2024 Annual General Meeting 3
Slide 6: Key Strategic Pillars
Key Strategic Pillars Strengthen Grow Control & Audio Video Management • Expand into lower cost • Continue to build out video • Vision: interoperable control higher volume products platform capability and management of Dante networks, from anywhere • Shift to software • Ongoing focus on design wins
Slide 7: Entering FY24
Entering FY24 Macro Environment Covid Bump Chip in end-user Shortages spending Record Backlog Levels 2024 Annual General Meeting 55
Slide 8: First Half of FY24
First Half of FY24 Macro Environment Easing End Chip User Demand Availability Increasing OEM Inventory Levels 2024 Annual General Meeting 66
Slide 9: Market Opportunity and Long-Term Prospects Unchanged
Market Opportunity and Long-Term Prospects Unchanged Audinate TAM: 2023 Annual General Meeting • Market Opportunity Unchanged: analysis did not reveal any factors that would alter the total market opportunity or TAM for Audinate • Confident in Market Share: no reason to believe that Audinate will ca
Slide 10: FY25 Underway…
FY25 Underway… Continue to focus on our new products like Dante Director …balanced with financial outcomes … and potential M&A activity 2024 Annual General Meeting 8
Slide 11: CEO's Presentation
CEO’s Presentation 2024 Annual General Meeting 9
Slide 12: World-leading Technology Supplier to Pro-AV
World-leading Technology Supplier to Pro-AV Audinate is the company behind the Dante® media networking solution used in the professional AV industry 660 4,176 Total OEM 13 Dante-enabled brands licensing Locations Poland products Dante products USA UK Belgium Japan France China Mexico Germany Hong Ko
Slide 13: FY24 Gross Profit Growth Accelerates
FY24 Gross Profit Growth Accelerates Variance Other Financial Metrics US$M Gross Profit vs FY23 $50M 98.0% $44.5 $45M A$91.5M Revenue 31.3% $40M 93.0% $35M $33.4 US$60.0M US$ Revenue 28.4% 88.0% $30M $24.9 $25M 74.3% Gross Margin % 3.1% 83.0% $18.8 $20M $15.6 $15M 76.4% 78.0% A$20.4M EBITDA* 85.5% 7
Slide 14: FY24 Objectives Achieved
FY24 Objectives Achieved FY24 Objectives Achievements 1. Double the video ecosystem - Strong growth in 2H to substantially over-achieve target >30k video units-in-field or shipped - Next-generation Dante AV Ultra product complete (first OEM product shown at ISE) 2. Release additional video and cloud
Slide 15: Demand for Dante Remains Strong
Demand for Dante Remains Strong Dante Trained and Certified Professionals Interest in Dante continues to be strong across key metrics: (cumulative) 271k AV professionals trained on Dante grew 22% 223k 183k 150k Units of retail software sold to AV professionals up 22%1 120k Downloads of Dante Control
Slide 16: Leading Global Supplier of AV Networking
Leading Global Supplier of AV Networking Total audio products per protocol 660 4500 "Over the past 12 months Dante 4,176 >US$2bn OEM brands again increased it’s dominance in Total addressable audio networking technology. An shipping Dante 4000 market order of magnitude more products enabled products
Slide 17: Ongoing traction in Video
Ongoing traction in Video In FY24 we have… Achieved FY24 objective to double the video ecosystem (target substantially over-achieved) 54 Dante AV partners / OEMs licenced for video up from 34 at FY23 84 Dante video products launched by customers at the end of FY24, up from 48 products at FY23 Next-g
Slide 18: Driving Revenue FY25 Priorities
Driving Revenue FY25 Priorities 1 2 3 4 Double down on sales Get customer video Successfully deliver Dante Director - & marketing activities products to market new Dante products to ongoing development to drive revenue with repeat orders broaden revenue base of technology and infrastructure 2024 Ann
Slide 19: FY25 Outlook Global AV Industry Size
FY25 Outlook Global AV Industry Size 2023 2029 US$306 US$422 Customer re-balancing of inventory holdings and rate of OEM’s clearing raw materials to influence revenue BILLION Shorter order lead times – now back to pre-COVID 2024 BILLION levels US$325 Ongoing customer preference for software-based BI
Slide 20: Q1 Trading Update
Q1 TRADING UPDATE • Audinate delivered unaudited gross profit of US$7.2 million Long-term strategic thesis for Audinate remains strong (A$10.6M) in Q1 FY25 • Expanding Dante Device Base - 6 million+ devices in use and • Factors affecting Q1 performance - shorter order lead times, more than 1 million
Slide 21: Welcome Our Recent New Hires to Audinate
Welcome Our Recent New Hires to Audinate Chris Rollinson Nick Peace Tim Neal Chief Financial Officer Chief Strategy Officer Vice President, Digital Services & Company Secretary 2024 Annual General Meeting 19
Slide 22: Appendix
Appendix 20
Slide 23: Investment Highlights
Investment Highlights Global Market Attractive Financial Innovative Large Market Strong Customer Base Experienced Leader Profile Products Opportunity Management Dominant position Gross margins >74% Broad intellectual AV just starting digital Existing customer base of Founder-led as de-facto supporte
Slide 24: FY24 ESG Highlights
FY24 ESG Highlights Employee Engagement Supporting Diversity Supply Chain Cyber Security Environment & Wellbeing Families & Inclusion Management Management Preparation for climate- Top quartile Over the past two years, 14 Females represent 26% of Regular audit of key Strengthened IT, privacy related