Audinate Group (ASX:AD8) delivers record revenue and EBITDA in 1H23

Audinate Group (ASX: AD8) has reported record 1H23 financial results, with revenue increasing 39.3% to $30.8M and EBITDA increasing 109% to $4.3M.

Audinate Group also highlighted gross profit increased 30% to US$14.5M at a gross margin of 71.2%.

Operating expenses increased by 33.4% to $17.7M due to increased headcount, salary increases and the annualisation impact of new headcount over the period.

The company says net loss after tax was $0.4M for the half-year ended 31 December 2022, compared to a $2.1M net loss after tax in the previous corresponding period.

Positive operating cashflows were recorded at $1.8M, compared to $0.6M in the previous corresponding period.