Atomos (ASX:AMS) shares fall over 24% today; Kalkine Media decodes why

September 01, 2022 02:40 PM AEST | By Khushboo Joshi

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Atomos (ASX:AMS) shares fall over 24% today; Kalkine Media decodes why — Image source: © Jefras | Megapixl.com

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Highlights:

Atomos Limited shares lost more than 24% (as of 12:51 PM AEST) on ASX today (1 September 2022).

The company has shared a comment note on ASX today, regarding ‘misreporting’ by a media publication.

Atomos, in its FY22 financial results, has marked a record revenue of AU$82.0 million.

Shares of video technology company Atomos Limited (ASX:AMS) were trading in red territory on Thursday (1 September 2022) and at 1:18 PM AEST, company’s shares were trading at AU$0.195 apiece, down 21.999%.

The company has shared a comment on an article published by a media publication where it ‘chose to misreport’ a fact. Atomos also shared that it has made a formal complaint to the concerned media firm regarding the same.

Meanwhile, the shares of Atomos have lost 87.61% in last one year and have shed off 36% in last one month on ASX (as of 1:27 PM AEST, 1 September).

Atomos in other news:

Atomos, on 30 August 2022, shared its FY22 financial results according to which, it has posted a record revenue of AU$82 million, up 4.3% on previous corresponding period.
The company’s underlying EBITDA is AU$4.5 million.
The cashflow for FY22 was AU$21 million as compared to AU$7.1 million in FY2021.
Also, the company launched Atomos Cloud Studio and new Series 2 ‘connected’ products in its fourth quarter.
The company, on 5 August, shared it has appointed interim Chief Executive Officer (CEO) and Chief Technology Officer (CTO), Trevor Elbourne, as the CEO. Trevor was appointed interim CEO in April 2022.
Trevor had launched Atomos’ new cloud-based products and services shortly after his appointment as interim CEO. Trevor is a systems engineer with over two decades of experience.

What does Atomos do?

Atomos is a video technology firm that provides simple-to-use monitor-recorder content creation products. These products help content creators with high quality products and affordable production system.

Atomos boasts of strategic relationships with major tech giants like Apple, Adobe, Nikon, Panasonic, Canon et al.

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