Asetek – Q1 2024: Soft start to the year as expected, full-year expectations maintained
· First-quarter revenue of $12.2 million, compared with $14.8 million in Q1 2023. · Gross margin of 44%, level with Q1 2023 · Q1 EBITDA adjusted of ($37) thousand compared with $2.8 million in Q1 2023 · SimSports revenue of $2.2 million, up 69% from Q1 2023 · In April, new OEM partner TRYX introduced a line of all-in-one CPU coolers, featuring unique new features including a custom display · Full-year 2024 outlook maintained – expected revenue in the range of -5% to 5% compared with 2023, with adjusted EBITDA projected to be between 12% and 17% of revenue Asetek reported