Highlights

• Audinate grew FY26 revenue 15% to US$46.0 million, equal to A$67.8 million, with gross margin steady at 82.0%.

• Net loss after tax widened to A$19.6 million from A$6.4 million, while underlying EBITDA moved to a A$3.6 million loss.

• Dante-enabled products in market reached 5,158, including 555 launched during the year, supported by 137 new design wins.

• Cash and term deposits stood at A$65.1 million after the Iris acquisition, funded with US$20.0 million paid on completion.

A year of buying, building and cutting costs has left Audinate Group Limited (ASX:AD8) with faster sales but a deeper loss. Shares were trading at A$2.04 on 23 October 2026, up 4.62%. The audio-over-network technology company reported revenue of US$46.0 million for the year ended 30 June 2026, up 15% on FY25, as it moved beyond its core Dante networking platform into software.

Growth Meets a Heavier Cost Base

In Australian dollars, revenue rose 9% to A$67.8 million from A$62.1 million. In US dollars, gross profit rose 14.7% to US$37.7 million, with gross margin holding at 82.0% against 82.1% a year earlier.

Profit moved the other way. Underlying EBITDA was a loss of A$3.6 million, compared with a A$0.7 million profit in FY25, and reported EBITDA was a loss of A$8.9 million. The net loss after tax widened to A$19.6 million from A$6.4 million, equal to a basic loss of 23.51 cents per share.

Cash and term deposits fell to A$65.1 million from A$109.9 million a year earlier. The company attributed the decline mainly to the Iris acquisition, which completed on 21 July 2025 with net cash consideration of US$20.0 million, or A$31.0 million, paid at completion.

Dante Keeps Spreading Across Brands

The core Dante platform continued to extend its reach. There were 5,158 Dante-enabled products in the market at year end, including 555 launched during FY26, and more than 8 million units have shipped. Audinate counted 542 OEM brands shipping Dante products and booked 137 design wins during the year.

Dante Director, the company's cloud-based management platform, gained enterprise features and control functions. Audinate also launched its AVIO range for installation, which pairs an installer-friendly mounting system with an upgraded Pro S1 chip that adds audio encryption.

The third edition of Dante Certification launched in October 2025, and more than 375,000 AV professionals have been certified.

Iris Adds a Software Layer

Iris, a software-as-a-service camera control and cloud production offering, launched in December 2025 and supports cameras from 20 manufacturers. It contributed about US$0.2 million of revenue during its early ramp.

The company now organises its strategy around three areas: the Component Business, which embeds technology in OEM products; Installed Products, led by AVIO; and AV System Software and Services, which covers Iris, Dante Director and DVS.

To align costs with that structure, Audinate restructured its workforce, reducing roles by a net 10% at a cost of A$1.8 million. The company expects the benefits to flow from FY27.

What Management Is Targeting for FY27

Audinate said it enters FY27 with a strengthened revenue outlook and a clear focus on executing its strategic priorities. Management expects the leaner cost base to improve operating profit and cash generation in FY27.

Leadership comments in the annual report acknowledged that returns to shareholders have lagged the company's operational progress. Chief executive Aidan Williams said the share price had not reflected the progress made during the year, and chair Alison Ledger said shareholder returns did not keep pace with strategic delivery.

On governance, Alison Ledger became chair on 18 August 2025, succeeding David Krall, and director Tim Finlayson retired from the board on 30 June 2026.