Atomos Ltd Reports Sharp Revenue Decline in FY23

Atomos Ltd. (AU:AMS) has released an update.

Atomos Ltd, a Melbourne-based company specializing in video production technology, experienced a significant downturn in FY23 with revenue dropping by 42% and a net loss of $61.1 million, a substantial increase from the previous year’s $10.4 million loss. The decline was attributed to challenging economic conditions, reduced sales momentum for new products, and aggressive discounting which led to lower gross margins and substantial inventory provisions.

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