Audinate Group Announces Co-Founder Mr Williams As New CEO

Audinate Group Announces Co-Founder Mr Williams As New CEO

Audinate Group Limited has selected an internal successor for CEO Lee Ellison, who informed about his intention to retire on 13 September 2019, following the release of the company’s 2019 full year financial results.

In today’s announcement to exchange, audio technology company Audinate Group Limited (ASX: AD8) announced that the company’s current CTO and Co-founder, Aidan Williams will succeed Lee Ellison as CEO.

Commenting on the transition, Mr Ellison stated that he believes it is a right time for him to enter retirement and hand the Audinate’s leadership over to Aidan. He added that Aidan and the rest of the executive leadership team of Audinate, have built a close working relationship over many years, and therefore he is confident that Audinate will continue to thrive under his leadership.

Audinate is positioned as a defacto standard and most trusted brand in audio networking for the professional AV industry with additional video capability added to the company’s product portfolio.

Mr Ellison added that “Audinate is in a great position to capitalise on its vision to Pioneer the Future of AV.”

To date, Mr Williams has been involved in the strategy side of the business, but now he sees his role as leading the Audinate’s team to unravel the value embedded in transforming the worldwide AV industry through software and networking.

There has been strong ongoing momentum in the company’s growth, recorded by achieving the milestone of 2,000 Dante enabled OEM products available for sale, stated CEO-Elect Mr Williams.

Dante, Audinate’s core technology, distributes audio signals across computer networks. It comprises hardware and software system that resides inside the audio products of Audinate’s Original Equipment Manufacturers (OEM) products.

AD8 Dante AVIOTM Adapters (Source: Company’s Website)

In 1HFY19, the company has recorded a 22% growth in Dante software units shipped to 88k and 36% OEM product growth to 1,751. Moreover, the company has established a global distribution channel of online retailers and country distributors, including 77 resellers in 45+ countries and growing in 1H19, up over 50% on 2H18.

The half-year recorded the strong repeat orders with 80% revenue coming from customers who have ordered more than twice. The company, however, utilised the growth in core gross margin to fund new product initiatives such as Dante Domain Manager and Dante AV (video).

Dante AV was launched in February 2019 at Integrated System Europe on the same business model, i.e. sale to equipment manufacturers (OEMs) and repeated revenue. It adds video signal distribution to Dante networking and holds a complete HDMI-over-IP product design, enabling rapid time to market.

AD8 stock price edged up 0.26% to last trade at $7.700 on 30 May 2019. The stock closed at a price to earnings multiple of 391.840x with a market capitalisation of $471.5 million. Over the past 12 months, the stock has delivered an overwhelming return of 120.69%, including a positive price change of 52.08% recorded in the past three months.

Also Read: Audinate Group Reported 40% Growth In Its Cash Collections For 3Q FY19


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice. 

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report