Audinate Group (ASX:AD8) says it has entered the financial year 2024 (FY24) with demand maintaining near-record levels.

The company intends to persist its focus on profitable growth and improvements in operating cash flow.

It also anticipates doubling its revenue in the medium term and expects its gross profit growth in US dollars in FY24 to be in line with its historical performance.

Audinate Group also envisages achieving its goal of doubling revenue in the medium term in FY24.

Furthermore, the company sees the economic environment as favorable for bolt-on M&A opportunities going forward.

However, it stays vigilant about the potential softening of the global economic conditions over course of FY24.

Audinate Group is a leading provider of professional digital audio networking technologies globally.