• Revenue declined 9% to $32.7m, impacted by global headwinds and US tariffs
• Gross margin improved to 34% on an underlying basis, expected to improve further in FY26
• Underlying EBITDA loss reduced 37% to $7.4m, with comprehensive cost restructure completed

Atomos Ltd reported a 9% decline in FY25 revenue to $32.7m, primarily due to ongoing global economic headwinds and the introduction of additional tariffs in the United States from February 2025, which significantly impacted H2 FY25 sales. Revenue in the second half of FY25 was 24% lower than the first half. Gross profit margin was 26%, significantly impacted by $3.2m of inventory obsolescence expense and the US tariffs. On an underlying basis, excluding non-recurring items, FY25 gross profit margins were consistent with FY24 at 34% and are expected to improve further in FY26 following repricing in the US market. Operating expenses were 30% lower in FY25 compared to FY24, with the company completing a comprehensive cost restructure that has reduced headcount to under 55. The FY25 underlying EBITDA loss of $7.4m was 37% favourable compared to FY24. Finance costs increased by $0.2m to $1.4m due to the drawdown on a new debt facility during the year. The consolidated loss for the financial year after tax amounted to $14.5 million, an improvement of 35% compared to the prior year.