ATOMOS LIMITED — Interim / Quarterly Report 2025

Apr 29, 2025

ASX Announcement ATOMOS LIMITED (ASX:AMS)

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30 April 2025
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Q3 FY25 Quarterly Activities Report

Melbourne, Australia - Atomos Limited (‘ASX:AMS’, ‘Atomos’ or the ‘Company’) today releases its Appendix 4C and Activities Report for the quarter ended 31 March 2025 (Q3 FY25) along with an update on notable events that have occurred subsequently.

Appendix 4c Highlights:

• Q3 FY25 (seasonally weakest quarter) cash receipts of $8m and operating cash outflow of $2.3m.

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Receipts (A$000)
$10,000
$9,000
$8,000
$7,000
Q3'24 Q4'24 Q1'25 Q2'25 Q3'25
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• Cash expenses in Q2 include $6.2m for product manufacturing and operating costs and $2m for staff costs, down from $7.8m and $2.2m respectively in the previous quarter.

Net Operating Cashflow (A$000)

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Q3'24 Q4'24 Q1'25 Q2'25 Q3'25
($2,000)
($3,000)
($4,000)
($5,000)
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• Payments to related parties and their associates of $158k; relate to remuneration of both executive and non-executive Directors.

Funding

• On 31 March 2025, Atomos entered a $13.7m debt facility with Monreii Pty Ltd. This facility replaced the unsecured loans (including capitalised interest) of $8.7m.

• For additional details, refer to the ASX announcement dated 1 April 2025.

Corporate Developments

• Effective 3 May 2025, Jeromy Young will step down as Chief Executive Officer. Peter Barber, currently serving as Chief Operating Officer, will assume the role of CEO. This leadership transition reflects the next phase of Atomos’ strategic evolution, focused on executing the Company’s expanded business strategy. Jeromy Young will continue to contribute to Atomos as a Non-Executive Director, providing support through the leadership transition.

New Product Portfolio

Following the end of the quarter, Atomos commenced a strategic expansion beyond its traditional monitor-recorder market, launching a broader range of products at NAB 2025. This expansion supports Atomos’ objective to become a more comprehensive solutions provider, offering an expanded range of products within the professional camera and production ecosystem, including enhanced camera-to-cloud solutions.

Atomos’ core business has historically been centred on high-quality camera monitoring and recording products. That core remains a key strategic focus, and the Company continues to invest in the enhancement and next-generation development of its monitor-recorder range. At the same time, Atomos is expanding into complementary product categories where its brand, technical expertise, and established channel relationships can be leveraged to support broader content creation workflows.

New products announced during the quarter included:

• StudioSonic Headphones – Professional-grade monitoring headphones developed for field production, post-production, and live events.

• ATOMOSphere – A cloud-based storage and collaboration platform, enabling direct-to-cloud device upload, file management, and distribution. ATOMOSphere has been built as an open platform to broaden Atomos’ user base beyond its own hardware ecosystem.

• TX-RX Series – A wireless video transmission system designed for reliable, low-latency signal transfer from camera to monitor.

• A-Eye PTZ Camera Range – AI-powered PTZ cameras targeted at live production, education, conferencing, and streaming applications.

Each of these categories extends Atomos’ participation in the broader professional content creation market and is designed to increase the Company’s total addressable market while diversifying revenue streams.

Importantly, the addition of cloud-based services through ATOMOSphere also introduces a recurring subscription and membership-based revenue model that is expected to grow over time, providing greater revenue stability alongside traditional hardware sales.

Atomos continues to explore opportunities for strategic acquisitions and product line enhancements to diversify offerings further and bolster market presence.

Market Conditions & Outlook

Sales of $6.8m (unaudited) for the quarter, from our core product portfolio, taking into account Q3 which is seasonally weaker, while above budget still remain subdued with ongoing global downturn in discretionary spend. In addition, Gross Profit margin during the quarter fell 2% from 38.5% reflecting ongoing adjustments in pricing strategy due to competitive market pressures impacting pricing dynamics and inability to pass on increases in tariffs.

In light of the current uncertainty around increasing tariffs and demand Atomos is withdrawing its previous medium term target gross profit margins of 40% - 45%.

Atomos continues to look to drive growth and reduce costs and has:

• launched 4 new products which have received a positive early response and pre-orders although detailed market feedback remains preliminary;

• A range of new product suite under development for H1 FY26 which should drive sales volumes and provide margin retention;

• Continued to reduce costs with the restructure largely finalised, albeit run rate fixed cost base of approximately $1m per month not expected to be visible until July 2025 when redundancies (including notice periods) are completed; legacy service contracts expire; and other non-recurring expenses are finalised; and

• Started a Direct-to-Consumer (D2C) sales channel with a strategic emphasis on the European market

Given current global macroeconomic challenges, notably the imposition of tariffs impacting Atomos' sales in the US, which represent a material amount of Atomos’ total revenue, the Company remains cautious. Strategic actions are underway to mitigate tariff impacts include pricing adjustments, cost management initiatives, and increased focus on the European and D2C markets.

Management remains committed to closely managing operating expenses strategically positioning the business for sustainable growth. The Company continues to review and refine its pricing strategy to align with market dynamics and tariff developments.

Atomos Chairman, James Joughin, said “We remain focused on navigating current market uncertainties and leveraging strategic opportunities to diversify and strengthen our market position. The leadership transition aligns closely with our strategic refocus and positions us well for future growth."

This announcement has been authorised for lodgement with ASX by the Board of Directors.

--ENDS—

For further information, please contact:

James Joughin Chairman james.joughin@atomos.com

Atomos’ Interactive Investor Hub

Our investor hub is an interactive location to engage with the Atomos team on our announcements and updates.

Please go to the Atomos Investor Hub for all market announcements & other news https://announcements.atomos.com.

About Atomos

ATOMOS designs pioneering products that transform the way film and video content is made around the world. From our range of hardware devices for monitoring and recording, easy-to-use software tools, and intelligent cloud services, we engineer best-in-class technologies and create products for the next generation of filmmakers.

Through relentless innovation, we simplify your workflow. Whether you record cinema-quality footage, monitor a scene with crystal clear colour accuracy, switch between multiple cameras, or stream a live event with a portable studio, ATOMOS empowers anyone to realize the best possible version of their creative potential.

ATOMOS is based in Melbourne, Australia, with a distributed worldwide team and offices in the USA, Japan, China, UK, and Germany and has a worldwide distribution partner network.

For more information, please visit www.atomos.com

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AUSTRALIA • USA • UK • GERMANY • CHINA [•] [JAPAN] | PG 4
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Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

ATOMOS LIMITED

Quarter ended (“current quarter”)

ABN 25 139 730 500 31 March 2025

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Consolidated statement of cash flows Current quarter Year to date (9
$A’000 months)
$A’000
1. Cash flows from operating activities
1.1 Receipts from customers 8,026 26,898
1.2 Payments for
(a) research and development (363) (1,008)
(b) product manufacturing and operating (6,222) (22,562)
costs
(c) advertising and marketing (406) (2,112)
- -
(d) leased assets (AASB 16 para. 50(a)
applies)
(e) staff costs (1,956) (6,424)
(f) administration and corporate costs (1,281) (4,372)
1.3 Dividends received (see note 3) - -
1.4 Interest received - 18
1.5 Interest and other costs of finance paid (86) (223)
1.6 Income taxes paid (16) (24)
1.7 Government grants and tax incentives - -
1.8 Other - -
1.9 Net cash from / (used in) operating (2,304) (9,809)
activities
2. Cash flows from investing activities
2.1 Payments to acquire or for:
- -
(a) entities
- -
(b) businesses
(c) property, plant and equipment (9) (57)
- -
(d) investments
- -
(e) intellectual property
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ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

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Consolidated statement of cash flows Current quarter Year to date (9
$A’000 months)
$A’000
(f) other non-current assets - -
2.2 Proceeds from disposal of:
- -
(a) entities
- -
(b) businesses
- -
(c) property, plant and equipment
- -
(d) investments
- -
(e) intellectual property
(f) other non-current assets - -
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other (provide details if material) - -
2.6 Net cash from / (used in) investing (9) (57)
activities
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
-
(excluding convertible debt securities)
3.2 Proceeds from issue of convertible debt - -
securities
3.3 Proceeds from exercise of options - 40
3.4 Transaction costs related to issues of - -
equity securities or convertible debt
securities
3.5 Proceeds from borrowings 1,700 8,250
3.6 Repayment of borrowings (incl AASB 16 (187) (795)
para. 50(a) principal amounts)
3.7 Transaction costs related to loans and - -
borrowings
3.8 Dividends paid - -
3.9 Other (movement in Credit Card balances) 180 189
3.10 Net cash from / (used in) financing 1,693 7,684
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period 1,386 2,900
4.2 Net cash from / (used in) operating (2,304) (9,809)
activities (item 1.9 above)
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ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

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Consolidated statement of cash flows Current quarter Year to date (9
$A’000 months)
$A’000
4.3 Net cash from / (used in) investing activities (9) (57)
(item 2.6 above)
4.4 Net cash from / (used in) financing activities 1,693 7,684
(item 3.10 above)
4.5 Effect of movement in exchange rates on 18 66
cash held
4.6 Cash and cash equivalents at end of 784 784
period
5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents $A’000 $A’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1 Bank balances 301 903
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (Rental Guarantees) 483 483
5.5 Cash and cash equivalents at end of 784 1,386
quarter (should equal item 4.6 above)
6. Payments to related parties of the entity and their Current quarter
associates $A'000
6.1 Aggregate amount of payments to related parties and their 158
associates included in item 1
6.2 Aggregate amount of payments to related parties and their -
associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an
explanation for, such payments.
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ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

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7. Financing facilities Total facility Amount drawn at
Note: the term “facility’ includes all forms of financing amount at quarter quarter end
arrangements available to the entity.
end $A’000
Add notes as necessary for an understanding of the
$A’000
sources of finance available to the entity.
7.1 Loan facilities - -
7.2 Credit standby arrangements - -
7.3 Other (Debt Facility) 13,700 8,250
Other (Corporate Credit Card) 500 324
7.4 Total financing facilities 14,200 8,574
7.5 Unused financing facilities available at quarter end 5,626
7.6 Include in the box below a description of each facility above, including the lender, interest
rate, maturity date and whether it is secured or unsecured. If any additional financing
facilities have been entered into or are proposed to be entered into after quarter end,
include a note providing details of those facilities as well.
A new $13.7m Debt Facility was entered into on the 2 [nd] of April 2025 with Monreii Pty Ltd,
an entity owned by Atomos Executive Director, Peter Barber.
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8. Estimated cash available for future operating activities $A’000
8.1 Net cash from / (used in) operating activities (item 1.9) (2,304)
8.2 Cash and cash equivalents at quarter end (item 4.6) 784
8.3 Unused finance facilities available at quarter end (item 7.5) 5,626
8.4 Total available funding (item 8.2 + item 8.3) 6,410
8.5 Estimated quarters of funding available (item 8.4 divided by
2.78
item 8.1)
Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a
figure for the estimated quarters of funding available must be included in item 8.5.
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• 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions:

8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer:

8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer:

8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer:

Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

30 April 2025

Date: ...................................................................................

Authorised by: .....Jeromy Young, CEO.......................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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