External broker reports(aggregated public sources), CCZ Statton Equities

CCZ Statton Equities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul>
<li>BirdDog (BDT) recorded Q2'FY23 unaudited revenue of $7.4m, -24% pcp (H1'FY23 of $15.5m, -36% pcp), which was below mgmt and CCZ expectations.</li>
<li>Trading conditions remain challenging in BDT's key markets, with revenue down in the USA (-32% pcp) and APAC (-30% pcp), whilst recent declines in the EU have now stabilised (+93% pcp).</li>
<li>Notwithstanding the short-term challenges in sales and more considered spending from customers, our channel checks continue to reinforce BDT's market appeal, particularly within the education segment.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


BirdDog (BDT) recorded Q2'FY23 unaudited revenue of $7.4m, -24% pcp (H1'FY23 of $15.5m, -36% pcp), which was below mgmt and CCZ expectations.
Trading conditions remain challenging in BDT's key markets, with revenue down in the USA (-32% pcp) and APAC (-30% pcp), whilst recent declines in the EU have now stabilised (+93% pcp).
Notwithstanding the short-term challenges in sales and more considered spending from customers, our channel checks continue to reinforce BDT's market appeal, particularly within the education segment.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BirdDog Technology - A High-Quality Product, but the Market's Not Buying