Avaya Reports Second Quarter Fiscal 2021 Financial Results

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05/06/2021 - 07:00 AM

Avaya Holdings Corp. (NYSE: AVYA) today reported financial results for the second quarter of fiscal 2021 ended March 31, 2021.

Second Quarter Financial Highlights

Revenues of $738 million, up 8% from a year ago
OneCloud ARR was $344 million, up 31% sequentially
CAPS (Cloud, Alliance Partner and Subscription) was 40% of revenue, up from 23% a year ago
Software and services were 90% of revenue, up from 88% a year ago
Recurring revenue was 66%, up from 64% a year ago
GAAP Operating income was $44 million; Non-GAAP Operating income was $148 million
GAAP Net loss was $58 million; Non-GAAP Net income was $72 million
Adjusted EBITDA was $177 million, 24.0% of revenue, up 220 basis points year over year
Ending cash and cash equivalents were $593 million
GAAP Loss Per Share of $0.70; Non-GAAP Earnings Per Share of $0.74

“We drove solid second quarter results which highlight the company’s continuing momentum. But more importantly, they represent the significant work and strategic investments we have been making over the last few years to reshape our company and portfolio to be a leader in enterprise communications and collaboration,” said Jim Chirico, president and CEO of Avaya. “The playbook for our industry is not a secret. It is all about how you execute and I couldn’t be more delighted with our performance, which is why we are again raising guidance across several key financial metrics.”

GAAP

Non-GAAP ⁽¹⁾

(In millions, except percentages)

2Q21

1Q21

2Q20

2Q21

1Q21

2Q20

Revenue

738