Audinate Group Warns of Profit Shortfall, Stock Falls 9%

Audinate Group Limited (ASX: AD8) saw its stock drop 9% after the software maker cautioned investors that it does not expect to meet its full-year gross profit target. The company highlighted ongoing "headwinds" impacting its performance, which are likely to persist into the second quarter. Audinate cited challenges such as supply chain disruptions and rising costs, contributing to its revised profit outlook. The company’s warning sent a ripple effect through the market, with investors reacting negatively to the news. Despite the current challenges, Audinate remains focused on navigating through these difficulties in the upcoming quarters.

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