Australia's BirdDog Technology sees worst session ever as revenue slides

BirdDog Technology

31/01/2023 24:49

** Shares of video technology firm BirdDog Technology
 BDT.AX  fall as much as 28.2% to A$0.14, their worst session on
record 
    ** Says Q2 unaudited revenue fell 24% to A$7.6 million,
dragged by softer demand in Americas and Asia-Pacific regions 
    ** "Our two primary markets (the U.S. and Europe) have both
been experiencing similarly challenging times due to
macro-economic factors leading to the deferral of key capital
investment decisions" - Co-Founder and CEO Dan Miall
    ** Adds it experienced higher costs during the quarter due
to significant one-off cash investments 
    ** Expects return to quarterly revenue growth across regions
by December 2023 
    ** Shares hit their lowest since Dec. 15, 2022
    ** As of last close, BDT up 25.8% YTD
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))