BirdDog (ASX:$BDT) strategic update

BirdDog Technology Limited (ASX:BDT) has successfully navigated supply chain challenges and implemented a cost improvement program, accelerating its path to profitability. The company has overcome camera contract manufacturing challenges through accelerated efforts to optimize its supply chain, resulting in the arrival of new products from a new manufacturing partner at BirdDog's warehouse this week.

Executive commentary on strategic measures

We are committed to taking decisive action to both optimize our global supply chain, as well as address the current market challenges and inflationary environment, ensuring we are well-positioned for future growth. Following these measures, we are confident our go-forward cost base is commensurate with current revenues as we continue to seek added scale and growth, whilst our productive capacity of core sales, engineering and support functions remains very much intact.

Summary of strategic update and outlook

BirdDog (ASX:BDT) has successfully addressed supply chain challenges and implemented a cost improvement program to accelerate its path to profitability. The company has secured long-term camera manufacturing security and expects improving product margins as early as Q3 FY24. Additionally, the implementation of cost improvement initiatives is anticipated to result in an annualized overhead saving of more than $2.0 million. BirdDog remains focused on its long-term strategic objectives and is confident that the announced measures will strengthen the company and lead to increased profitability in the future.