The chief executive of sharemarket darling Audinate said it should turn free cashflow positive in the medium term and has no plans to raise capital.
Aiden Williams, chief executive of sharemarket darling Audinate, said the group has no plans to raise capital after it burned $20.9 million over a financial year 2022 disrupted by chronic semiconductor shortages, factory closures, and global lockdowns.Supplied.
“The chip shortage side of things has been really quite acute,” said Mr Williams. “Q2 this year we had one of our substantial chip providers [Chinese company Xilink] basically, at essentially zero notice, tell us they’d ship us no chips for more than five months. The total cash outflows reached $20.9 million after adding $9.1 million in acquisition costs for the Silex Technology video business.
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