Welcome to our dedicated page for Avid Technology news (Ticker: AVID), a resource for investors and traders seeking the latest updates and insights on Avid Technology stock.
Avid Technology, Inc. (NASDAQ: AVID) delivers cutting-edge solutions for media production and content management, serving professionals across film, TV, music, and news. This page aggregates official announcements and verified updates about the company’s strategic initiatives, product developments, and industry partnerships.
Investors and media professionals will find timely updates on product launches like Avid | Stream IO, financial developments including the Symphony Technology Group acquisition, and strategic collaborations such as the ITV News workflow modernization. Educational outreach efforts like the Roybal Learning Center partnership are also documented here.
All content is curated to provide a comprehensive view of Avid’s evolving role in media technology. Bookmark this page for streamlined access to earnings reports, innovation announcements, and operational milestones that shape the digital content landscape.
Avid reported strong Q3 2022 financial results, with subscription revenue of $41.8 million, reflecting a 49.2% year-over-year increase, driven by a record 32,600 net paid subscription additions. Total revenue grew by 1.3% year-over-year to $103.0 million, despite supply chain challenges affecting order shipments. Net income decreased 18.6% to $12.0 million, impacted by a prior year loan forgiveness gain. Nevertheless, Non-GAAP EPS rose 40.7% to $0.38. Avid has adjusted its full-year 2022 revenue guidance due to foreign exchange headwinds.
Avid (NASDAQ: AVID) will announce its third-quarter 2022 earnings on Nov. 8, 2022, at 5:30 p.m. ET, followed by a conference call featuring CEO Jeff Rosica and CFO Ken Gayron. The earnings report will cover the period ending Sept. 30, 2022. Investors can register for the Zoom webinar through Avid's investor relations website. The company, known for its innovative technology solutions in media and entertainment, focuses on enhancing the creative capabilities of professionals across various sectors. A replay of the call will also be available.
Avid has launched the Pro Tools | Carbon Pre at AES Show 2022, enhancing audio production capabilities with 32-bit AD/DA conversion for superior dynamic range. This device allows for the expansion of studio setups, providing 24 channels of high-quality mic/line preamps and outputs, ideal for capturing large sessions. With remote control and instant session recall features, it integrates seamlessly into workflows. Priced at $2,999, the Carbon Pre aims to boost artist productivity and sound quality.
Avid has amended its secured credit facility with JPMorgan Chase, increasing its unfunded revolver availability by approximately $70 million while maintaining existing pricing and debt levels. The facility now includes $186.7 million in senior secured term loans and $120 million in an unfunded revolving line of credit. The financial flexibility gained from this arrangement is expected to support Avid's growth and capital deployment strategy, enhancing returns for shareholders. The maturity remains unchanged, set for February 2027.
Avid has launched Pro Tools Intro, a new free version of its acclaimed music production software, aimed at emerging music creators. This version allows users to easily produce professional-quality music with essential tools, MIDI capabilities, and a range of plugins. It fosters connectivity through the Avid Link app, enabling users to collaborate and share content within a broader community. With a legacy of supporting creators, Avid aims to expand its user base and enhance the Pro Tools ecosystem.
Avid has announced the release of Pro Tools 2022.9, enhancing its digital audio workstation with features aimed at boosting creativity and productivity for music creators. Key highlights include the integration of Celemony Melodyne via ARA 2 technology for efficient vocal tuning and harmonization, the Aux I/O feature for improved remote collaboration, and SoundFlow Cloud Avid Edition for workflow automation. This update is available to all subscribers, reflecting Avid's commitment to innovation in audio production.
Avid has launched its next-generation Maestro subscription software, which enhances broadcast graphics capabilities while ensuring backward compatibility. Available immediately, this innovative solution allows graphics teams to utilize existing hardware and cloud workflows, enabling flexibility for various live production needs. The subscription model promotes easier integration with Avid's MediaCentral platform, ensuring users access the latest features while optimizing their IT infrastructure. This upgrade aims to streamline collaboration and accelerate content production in demanding environments.
Avid has launched the Avid Learning Academy program, providing K-12 students free access to the Pro Tools Artist software, enhancing music creation capabilities. This transition from the previous Pro Tools First allows students to work with professional tools and gain skills aligned with U.S. National Core Arts Standards. The program supports music and audio education, enabling high school students to earn industry-recognized credentials while fostering creativity. The initiative aims to lower entry barriers for aspiring music creators.
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