The S&P/ASX 200 Index (ASX: XJO) is fighting hard to start the week with a gain. In afternoon trade, the benchmark index is up almost 0.1% to 8,946.5 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:
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Audinate Group Ltd (ASX: AD8)
The Audinate share price is down 22% to $4.76. Investors have been selling this audio-visual networking solution provider's shares following the release of another disappointing full year result. Audinate posted a 33% decline in revenue to US$40 million and a 26% decline in gross profit to US$32.9 million. This ultimately led to the company's net profit swinging to a loss of A$6.4 million for the year. One positive is that management is expecting an improved performance in FY 2026 and is guiding to gross profit growth of 13% to 15%.
DigiCo Infrastructure REIT (ASX: DGT)
The DigiCo Infrastructure REIT share price is down 11% to $2.86. This follows the release of the data centre operator's full year results. DigiCo reported FY 2025 annualised underlying EBITDA of $99 million, which is ahead of its prospectus guidance. However, its guidance for FY 2026 was somewhat uncertain and may have spooked investors. It stated: "FY26 EBITDA growth will ultimately be dependent on the timing of new contract commencements, renewals and remixing of existing capacity in the Australian business."
Kogan.com Ltd (ASX: KGN)
The Kogan share price is down 3.5% to $3.86. This follows news that the struggling ecommerce company is writing down the goodwill of its Mighty Ape acquisition. It advised that "the decision to write down the goodwill reflects a recognition of the poorer-than-expected trading performance and longer than anticipated recovery from the platform technology challenges following the October 2024 website upgrade. This was compounded by the recent challenging retail environment in New Zealand marked by weak consumer confidence." The value of goodwill associated with the disastrous Mighty Ape acquisition was $46.3 million at 30 June 2024.
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is down 5.5% to $4.29. Investors have been selling this coal miner's shares following the release of its full year update. New Hope revealed an 18.1% increase in group saleable coal production to 10.7Mt, but an 11% decline in its average realised sales price. This ultimately led to it reporting underlying EBITDA of $765.8 million for FY 2025, which is down from $860 million a year earlier.
