DUBAI, UAE, Feb. 10, 2021 /PRNewswire/ -- Avaya Holdings
Corp. (NYSE: AVYA) today reported financial results for the first
quarter of fiscal 2021 ended December 31, 2020
First Quarter Financial Highlights
- Revenues of $743 million
- OneCloud ARR was $262 million, up
38% sequentially
- CAPS (Cloud, Alliance Partner and Subscription) revenue was
34%, up from 18% a year ago
- Software and services were 88% of revenue, up from 86% a year
ago
- Recurring revenue was 65%, up from 59% a year ago
- GAAP Operating income was $62
million; Non-GAAP Operating income was $163 million
- GAAP Net loss was $4 million;
Non-GAAP Net income was $85
million
- Adjusted EBITDA was $190 million,
25.6% of revenue
- Ending cash and cash equivalents were $750 million
- GAAP Loss Per Share of $0.06;
Non-GAAP Earnings Per Share of $0.90
"We are pleased to report first quarter results that exceeded
expectations across all key metrics. Navigating a very challenging
business environment, we emerged from 2020 even stronger. This
success reflects the significant progress we continue to make on
our transformation into an enterprise leader in cloud-based
communications and collaboration solutions," said Jim Chirico, President and CEO of Avaya. "The
investments we have made in the business are generating strong
traction across all segments in which we operate and, as a result,
we are increasing our guidance for revenue, ARR, profitability and
CFFO for the fiscal year."
Additional First Quarter Fiscal 2021 Highlights
- Total Contract Value (TCV) of $2.2B*
- Avaya OneCloud Subscription booked additional TCV of over
$180 million during the December
quarter
- Added over 1,600 new logos
- Significant large deal activity with 119 deals over
$1 million TCV, 14 over $5 million, 6 over $10
million and 3 over $25
million
- Avaya Cloud Office™ launched in Austria, Belgium, Germany, Italy, and Spain.
- The Company is launching a Term Loan Amendment transaction
today to extend the maturity of its outstanding Tranche B Term
Loans due December 2024 to
September 2027. In connection with
the Amendment, the Company will make a $100
million prepayment of the existing Tranche B Term
Loans.
Customer Highlights
- Avaya Spaces was chosen by Dubai World Trade Centre to be the
workstream collaboration platform enabling blended conference
experiences, beginning with Gitex Technology week in December 2020. Gitex is the largest technology
event of its kind, and the only one to go live in 2020. In a truly
global event, over 30,000 virtual attendees used Spaces to engage
with 350 technology experts representing 30 countries.
Business Highlights
- Avaya Earned the Frost & Sullivan Award for Excellence in
Healthcare Solutions.
- Avaya named one of 2021 America's Most Responsible Companies by
Newsweek magazine based on key performance indicators derived from
CSR Reports, Sustainability Reports, and Corporate Citizenship
Reports, as well as an independent survey of U.S. residents.
- TrustRadius recognized Avaya with the 2020 Tech Cares Award for
going above and beyond to provide global communities, clients, and
frontline workers with support during the COVID-19 crisis.
- Avaya Spaces placed in Leaders category in IDC MarketScape:
European Collaboration Tools for Education 2020 Vendor
Assessment.
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SOURCE Avaya Holdings Corp.