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Avid Technology reports Q3 adjusted EPS 38c, consensus 31c
The Fly

Avid Technology reports Q3 adjusted EPS 38c, consensus 31c

Reports Q3 revenue $103M, consensus $105.46M. Subscription revenue was $41.8 million, an increase of 49.2% year-over-year. At constant currency, subscription revenue increased 56.2% year-over-year. Paid Cloud-enabled software subscriptions increased by an all-time record of 32,600 during the quarter to approximately 482,900 as of September 30, 2022, an increase of 24.1% year-over-year. Annual Recurring Revenue was $237.2 million, an increase of 10.0% year-over-year. At constant currency, Annual Recurring Revenue increased 13.2% year-over-year. Subscription ARR was $131.3 million, an increase of 33.2% year-over-year. At constant currency, Subscription ARR increased 36.9% year-over-year.

Published first on TheFly

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