Audinate Group (ASX:AD8) is the ASX technology name with the most riding on a single trading day this reporting season. The company confirmed to the market on 21 July 2026 that it would release its FY26 financial results on 17 August 2026, accompanied by a live investor webinar running roughly 45 minutes including questions.

The stock price was in the spotlight after its share price recorded a significant jump. At the time of writing, no FY26 results document was independently retrievable and no figures from the release could be verified, so this article builds on what is on the record: the first-half FY26 accounts, the guidance already given, and the FY25 base those numbers are measured against.

What happened?

The verified event for 17 August 2026 is the results release and webinar, flagged in an ASX announcement lodged on 21 July 2026 and authorised by chief financial officer and company secretary Chris Rollinson. That announcement contained no preliminary numbers, no guidance revision and no trading update; it was purely a calendar notice.

Audinate has not pre-released FY26 data, so the market is trading on the half-year run-rate and the guidance framework set out in February 2026.

The story behind the numbers

The most recent verified accounts cover the half year to 31 December 2025. Revenue rose 12% to US$21.1 million from US$18.9 million. Gross Profit also grew 12%, to US$17.4 million, and the gross Margin firmed to 82.6% from 82.2%.

Adaptors jumped 51% to US$4.3 million on the back of the AVIO range for installation work. Embedded components, the largest bucket, grew 5% to US$13.9 million, with embedded software up 17% as manufacturers migrated from hardware modules to software licences.

Profitability was the weak point: underlying EBITDA swung to a loss of about A$2.3 million from a A$0.8 million profit a year earlier. Cash stood at roughly A$70.9 million at 31 December 2025, down from A$109.9 million at 30 June 2025, with no debt.

The FY26 guidance against which today's result will be judged: US dollar gross profit growth of 13% to 15% over FY25, and operating cost growth of 20% over FY25, revised down from 25% after an organisational realignment expected to deliver about A$5 million in annualised savings.

Why this matters

Dante is the de facto networking standard for professional audio over IP, and its value sits in the installed base: roughly 516 original equipment manufacturers with Dante products in market, another 207 developing them, and more than 316,000 audio professionals trained on the platform. FY25 showed what happens when the hardware cycle turns against a company whose royalties ride on unit shipments; FY26 was meant to demonstrate that the software transition can carry growth without the hardware tailwind.

What is driving the Investment case?

Three threads converge: margin, since Audinate's gross margin above 82% is software-like and improving as the mix tilts away from physical modules; design wins, which reached 66 in the first half against 61 a year earlier; and video, where Iris, a usage-based subscription for intelligent camera control, launched in December 2025 with 10 camera manufacturers onboarded.

The bull case

Growth has resumed, margins are at record levels, the Balance Sheet carries no debt, and cost growth guidance has already been cut once. If FY26 lands inside the 13% to 15% gross profit growth band with costs contained, the Operating Leverage in a Business with 82% gross margins is considerable.

The bear case

The company was still loss-making at the underlying EBITDA line at the half, free Cash Flow was guided negative for FY26, and cash fell almost A$40 million in six months. Management has also acknowledged only three to four months of sales pipeline visibility, which limits forecasting confidence, and Iris remains early.

What could move the share price next?

The FY26 results release and webinar are the identified near-term events. Beyond that, any FY27 guidance framework, the FY26 free cash flow outcome against the negative guidance, updated design win and OEM counts, and Iris subscriber traction are the disclosures most likely to reset expectations.

Outlook

The question for Audinate is no longer whether Dante is valuable; the ecosystem numbers settle that. It is whether the video expansion and software mix shift can lift gross profit fast enough to outrun an operating cost base that grew through the downturn.