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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Avid Technology, Inc.    AVID

AVID TECHNOLOGY, INC.

(AVID)
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Avid Technology : Q3 2020 Earnings Data Sheet

10/28/2020 | 05:35pm EST

AVID TECHNOLOGY, INC.

Investor Relations Datasheet

(unaudited, in AFX unless noted, in $ millions, except per share amounts)

Please refer to SEC filings for a definition of the non-GAAP measures and operational metrics used herei

Q1

2019

Q2 2019

Q3

2019

Q4

2019

Q1

2020

Q2

2020

Q3

2020

Net Revenue

Subscription

$ 9.3

$ 9.8

$ 10.3

$ 15.8

$

14.0

$ 16.4

$ 17.9

Maintenance

32.0

31.6

33.4

33.4

31.8

30.6

30.8

Subscription and Maintenance

41.3

41.4

43.7

49.3

45.8

47.0

48.7

Perpetual

8.1

8.6

8.7

9.5

5.4

6.8

9.0

Software Licenses and Maintenance

49.4

50.0

52.3

58.8

51.1

53.8

57.7

Hardware & Integrated Software

46.3

41.7

34.2

50.3

29.3

20.8

26.8

Professional Services & Training

7.6

7.0

6.9

7.2

6.0

4.6

5.9

Total Net Revenue

$ 103.3

$ 98.7

$ 93.5

$ 116.3

$ 86.5

$ 79.3

$ 90.4

US & Rest of Americas

$ 46.3

$ 46.9

$ 40.7

$ 50.9

$ 41.5

$ 38.8

$ 40.7

Europe, Middle East & Africa

$ 37.2

$ 37.4

$ 40.6

$ 46.6

$ 33.2

$ 28.7

$ 37.5

Asia-Pacific

$ 19.9

$ 14.4

$ 12.1

$ 18.8

$ 11.7

$ 11.8

$ 12.2

Non-GAAP Gross Margin %

Software Licenses and Maintenance

84.8%

85.2%

86.7%

85.8%

85.2%

85.6%

85.2%

Hardware & Integrated Software

43.8%

36.5%

34.2%

43.1%

32.2%

25.8%

30.3%

Professional Services & Training

14.5%

11.1%

14.5%

18.8%

5.7%

8.9%

23.7%

Total Non-GAAP Gross Margin %

61.3%

59.4%

62.1%

63.2%

61.7%

65.4%

64.9%

Non-GAAP Operating Expenses

$ 53.1

$ 51.8

$ 47.3

$ 54.4

$ 51.3

$ 40.5

$ 41.4

Adjusted EBITDA

$ 12.6

$ 9.4

$ 12.8

$ 21.2

$ 4.2

$ 13.5

$ 19.3

Non-GAAP Net Income (Loss)

$ 4.5

$ 0.9

$ 4.6

$ 12.2

($ 3.4)

$ 5.1

$ 12.2

Net Income (Loss) per Share

$ 0.11

$ 0.02

$ 0.10

$ 0.28

($ 0.08)

$ 0.12

$ 0.27

Free Cash Flow

$ 4.6

($ 4.5)

($ 4.6)

$ 17.0

($ 7.1)

($ 5.2)

$ 15.5

Other Metrics

Cash & Cash Equivalents

$ 55.3

$ 51.0

$ 52.3

$ 69.1

$ 81.2

$ 55.7

$ 49.1

Long Term Debt

$ 218.2

$ 200.2

$ 199.6

$ 199.6

$ 220.4

$ 227.4

$ 204.1

Accounts Receivable DSO

53

54

53

58

64

61

61

Inventory Turns

4.8

4.8

4.9

5.4

4.6

4.6

4.6

Deferred Revenue

$ 101.3

$ 93.5

$ 85.0

$ 97.9

$ 95.4

$ 85.7

$ 81.2

Contractually Committed Backlog

358.4

351.3

358.6

342.3

339.6

336.5

321.7

Total Revenue Backlog (1)

$ 459.7

$ 444.8

$ 443.6

$ 440.2

$ 435.0

$ 422.2

$ 402.9

Cloud-enabled software subscriptions

137,141

147,676

170,225

187,871

217,504

242,008

269,199

LTM Recurring Revenue % (3)

57.0%

58.1%

59.4%

62.1%

66.3%

69.8%

71.2%

Annual Contract Value (4)

$ 237.1

$ 244.6

$ 255.3

$ 279.8

$ 264.2

$ 265.3

$ 271.9

  1. Revenue Backlog consists of firm orders received and includes both (i) orders where the customer has been invoiced in advance of our performance obligations being fulfilled and (ii) orders for future product deliveries or services that have not yet been invoiced by us.
  2. Cloud-enabledsoftware subscriptions as of a given date represent the number of paid subscription licenses under an active contract as of that date, excluding any licenses that may be receiving service under an active contract but that are not paid for at that time by the customer, whether due to a promotion, cancellation or otherwise.
  3. LTM Recurring Revenue % is Recurring Revenue divided by Total Net Revenue for the most recent four quarters. Recurring Revenue is defined as the sum, without duplication, of subscription revenue, maintenance revenue, and revenue under our long-term contractual agreements.
  4. Annual Contract Value is defined, as of a given date, as the sum, without
    duplication, of the following three components: (i) the annual value of all long- term contractual agreements in effect on such date, calculated by dividing the total value of each contract (excluding expected maintenance revenue included in (ii) below and expected subscription revenue included in (iii) below) divided by the total number of years of such contract, (ii) maintenance revenue for the quarter ended on such date, multiplied by four, and (iii) subscription revenue for the quarter ended on such date, multiplied by four.

Disclaimer

Avid Technology Inc. published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 22:34:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 361 M - -
Net income 2020 15,4 M - -
Net Debt 2020 139 M - -
P/E ratio 2020 52,7x
Yield 2020 -
Capitalization 839 M 839 M -
EV / Sales 2020 2,71x
EV / Sales 2021 2,37x
Nbr of Employees 1 429
Free-Float 93,4%
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Technical analysis trends AVID TECHNOLOGY, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 19,88 $
Last Close Price 18,98 $
Spread / Highest target 21,2%
Spread / Average Target 4,72%
Spread / Lowest Target -13,1%
EPS Revisions
Managers and Directors
NameTitle
Jeff Rosica President, Chief Executive Officer & Director
Peter Miles Westley Chairman
Kenneth Gayron Chief Financial Officer & Executive Vice President
Kevin W. Riley Chief Technology Officer & Senior Vice President
Nancy Hawthorne Independent Director
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