• Shipped 1M Dante devices, established first cloud-based management platform, and completed strategic acquisition of Iris
• Embedded Software revenue up 15%, a key indicator of underlying growth
• Robust balance sheet with A$109.9 million in cash, enabling continued investment in product development and future growth
• Acquired Iris, a leader in AI-driven, cloud-based camera control, to enhance Audinate's video platform and control capabilities

Audinate Group Ltd's FY25 was a year of transition, with the company shipping 1 million Dante devices, establishing its first cloud-based management platform, and completing the strategic acquisition of Iris, a leader in AI-driven, cloud-based camera control. Despite a 33% decline in revenue due to manufacturing customers working through accumulated inventory balances, the company saw strong second-half momentum, with US$ gross profit increasing 12% compared to the first half. Embedded Software revenue grew 15%, a key indicator of underlying growth, and the company secured 129 design wins, an increase of 12%, strengthening the foundation for future revenue expansion. Audinate continued to invest in product development, launching new offerings such as Dante Director, a cloud-based audio device management platform, and Dante AVIOs for Installation, a next-gen adaptor targeting the professional installer market. The acquisition of Iris significantly enhanced Audinate's video platform and control capabilities, aligning with the company's vision for a fully interoperable AV control and management solution. Audinate ended the year with a robust balance sheet, holding A$109.9 million in cash, providing financial capacity and strategic flexibility to fund continued investment in product development and future growth.

Audinate is well-positioned for a return to growth in FY26, with the inventory rebalancing now largely complete and signs of recovery evident in the second half of FY25. The company will continue to invest in go-to-market and product development activities to drive adoption and scale of its Dante platform, including the newly acquired Iris cloud-based video production capabilities.