FADEL has reported FY22 results in line to slightly ahead of the forecasts from our May initiation, and we reiterate our FY23-FY25 forecasts. FY22 revenue grew +10% to $13.2m vs our previous forecast of $13.1m, as IPM Suite delivered +19% yoy growth and Brand Vision scaled to $1.9m following the IDS acquisition in October 2021. FY22 adjusted EBITDA of -$0.6m was ahead of our previous forecast of -$0.8m, and as the company invests in scaling the platform, today’s announcement confirms the hiring ....
