• No material deviation from market expectations on key metrics like gross profit and revenue
• Provided guidance on US$ gross profit, which was in line with actual results
• Analyst consensus estimates also aligned with actual performance
• No obligation to disclose earlier under Listing Rules 3.1 and 3.1A

Audinate Group Limited (AD8) provided a comprehensive response to the ASX Aware Letter regarding its half-year results announcement on 17 February 2025. AD8 stated that it does not consider any measure of its statutory or underlying earnings for the half-year ended 31 December 2024 differed materially from market expectations. The company referred to its market update in October 2024, where it provided guidance on US$ gross profit for Q1 FY25, indicating an expected 1H FY25 gross profit of US$14.4 million. AD8's actual gross profit for 1H FY25 was US$15.5 million, a variance of only 7.6%, which the company does not consider material under ASX Guidance Note 8. AD8 also compared its 1H FY25 results to the consensus estimates of eight sell-side analysts, showing revenue and gross profit were within 8.7% and 1.9% of expectations, respectively. AD8 confirmed it was not obligated to disclose any variance earlier under Listing Rules 3.1 and 3.1A, as its earnings were consistent with its prior guidance and analyst consensus. The company also provided some additional context around trading conditions and short positions in its securities that may have contributed to the share price movement following the results announcement.