New York, NY (November 24, 2021)—This month, Focusrite plc announced the final results for its financial year that ended August 31, 2021, highlighting the success of its various brands. Over the 12-month period, Focusrite, Focusrite Pro, ADAM Audio, Martin Audio, Novation, Amplify, Optimal Audio and Sequential cumulatively sold more than 1.5 million physical products and more than 1.4 million downloads in total.
Revenues grew 34% across the group, according to the report. Of note, sales of Focusrite products were up by 24% to £124.4 million, reportedly driven in large part by the Scarlett 3rd Generation range. Meanwhile, new generations of Novation’s Circuit and Launchkey saw that brand’s revenues grow by 14%. Live sound loudspeaker brand Martin Audio grew 23% despite the pandemic severely curtailing live events and tours, seeing the company return to pre-COVID levels of business via a pivot to installed sound.
During 2021, Focusrite plc also purchased analog synth brand Sequential in April for $20 million net of acquired cash, and also launched a new brand, Optimal Audio, aimed at the commercial audio market.
The group’s year-end net cash balance landed at £17.6 million (FY20: £3.3 million), repaying debt drawdown of $10m for Sequential in four months.
Tim Carrol, CEO, commented in the report, “All the Group’s acquisitions are settling in well, numerous cross-business initiatives have already been completed and many more are slated to occur later this year, the benefit of which we expect in the latter part of FY22 and into FY23. Our roadmap across all the brands remains robust, with many new product introductions planned to occur later in FY22. Accordingly, we are now cautiously optimistic about the prospects for modest revenue growth in the current year.”