Aferian has released a positive update on trading for the year ending November 2022. The group finished the year in line with the Board’s recently-lowered expectations, with FY22 revenue now expected to be approximately $91m, with record levels of ARR and a stronger-than-expected cash balance.
Management reiterated its expectation of reporting adjusted EBIT in the $7.8m-$8.8m guidance range. We leave estimates unchanged ahead of the full results announcement due in February, and continue to believe the group remains well placed to capture growth from the ongoing structural shifts in global TV consumption.
Aferian plc (LON:AFRN) is a trusted partner and global provider of innovative, scalable media and entertainment technology solutions. As an IPTV pioneer, working with over 250 operator customers in 100-plus countries, Aferian continuously innovates to help customers deliver modern video experiences.