Proactive Investors - Run By Investors For Investors

Atomos upgrades 2019 financial year guidance to at least $50 million

The company’s products take images directly from the sensor of camera manufacturers, then enhances, records and distributes them in high-quality formats for content creation using video editing software.
Atomos upgrades 2019 financial year guidance to at least $50 million
Atomos delivers monitor-recorder content creation products

Atomos Limited (ASX:AMS) has upgraded its expectations for revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) for the 2019 financial year to June 30.

Revenue is now anticipated to be in excess of $50 million compared to the prospectus forecast of $42.2 million.

The second half of financial year 2019 pro forma EBITDA is anticipated to be in line with the first half of $700,000, in comparison to the prospectus forecast of $300,000 for the full year.

Shares up 29%

Investors have responded positively with shares up by as much as 29% to an intra-day high of $1.35.

Atomos chief executive officer Jeromy Young said: “The improved revenue and Pro Forma EBITDA expectations reflect the strong customer response to both existing and new Atmos products.

“We are particularly pleased to exceed expectations in our first year as a public company as we seek to deliver shareholder value.

“The company has worked hard during the past few years to create the underlying ‘Ninja Platform’ that we are now successfully leveraging across multiple products and market segments.”

Atomos is a global video technology company delivering simple to use monitor-recorder content creation products.

These products give content creators across the rapidly growing social, pro-video and entertainment markets a faster, higher quality and more affordable production system.

Stronger than forecast sales

The upgrade to expectations can be attributed to several factors:

  • Stronger than forecast sales from the Ninja V which was launched in September 2018;
  • Stronger than forecast sales from two Shinobi devices, 5-inch HDMI and SDI monitors targeting the rapidly growing ‘social’ segment of the video market, which was launched in February and March 2019; and
  • In part offset by continued investment in market development and product innovation.

Young added: “In the prospectus we stated a goal of doubling our product line during the next few years and we are well on track to deliver on that goal with four new products having been announced during the last nine months.”

View full AMS profile View Profile

Atomos Ltd Timeline

Related Articles

Greenhouse full  of plants
February 02 2019
The global marijuana market is projected to reach an eye-watering US$58.90 billion between 2018 and 2023
N-P-K, nitrogen-phosphorus-potassium acronym image
April 02 2019
The Australian company will host a Q&A call for investors this Thursday at 10.30am eastern time.
Digital Marketing
June 10 2019
"The group has had a good start to the year," chairman David Morrison said.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use