AVID TECHNOLOGY, INC. (AVID) [Rocket]

Overview

AVID TECHNOLOGY, INC. (AVID)

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Recent News + Filings (All items)

Date Filed	Type	Description
08/25/2023	DEFA14A	Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material:
08/18/2023	SC 13D	Form SC 13D - General statement of acquisition of beneficial ownership:
08/16/2023	DEFA14A	Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material:
08/11/2023	DEFA14A	Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material:
08/10/2023	DEFA14A	Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material:
08/10/2023	SC 13D/A	Impactive Capital LP reports a 16.3% stake in Avid Technology, Inc.
08/10/2023	8-K	Entry into a Material Definitive Agreement, Departure of Directors or Certain Officers; Election of Directors; Appointment of...

Revenue Mix by Segment

Financial Summary (All financials)

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
Revenues	417.4	409.9	360.5	411.8	413.3	419.0	511.9	505.6
Revenue growth	1.8%	13.7%	-12.5%	-0.4%	-1.4%	-18.2%	1.3%	-4.6%
Cost of goods sold	143.0	144.1	132.1	162.7	174.1	176.9	179.2	197.4
Gross profit	274.4	265.8	228.3	249.1	239.2	242.1	332.7	308.2
Gross margin	65.7%	64.8%	63.3%	60.5%	57.9%	57.8%	65.0%	60.9%
Sales and marketing	96.0	95.5	87.6	99.9	101.3	106.3	110.3	122.5
Research and development	66.9	65.6	57.0	62.3	62.4	68.2	81.6	95.9
General and administrative	57.2	57.4	47.1	53.4	55.2	53.9	61.5	74.1
EBITA	54.4	47.4	36.6	33.4	20.3	13.8	79.4	15.6
EBITA margin	13.0%	11.6%	10.2%	8.1%	4.9%	3.3%	15.5%	3.1%
Amortization of intangibles				0.7	1.5	1.5	2.5	2.4
EBIT	54.4	47.4	36.6	32.7	18.8	12.3	76.9	13.3
EBIT margin	13.0%	11.6%	10.2%	7.9%	4.6%	2.9%	15.0%	2.6%
Pre-tax income	45.3	44.0	12.4	2.5	-9.4	-13.4	45.3	0.6
Income taxes	-9.9	2.6	1.4	-5.1	1.3	0.1	-2.9	-1.9
Tax rate		5.8%	11.0%
Net income	55.2	41.4	11.1	7.6	-10.7	-13.6	48.2	2.5
Net margin	13.2%	10.1%	3.1%	1.8%	-2.6%	-3.2%	9.4%	0.5%

Diluted EPS	$1.23	$0.89	$0.25	$0.17	($0.26)	($0.33)	$1.20	$0.06
Shares outstanding (diluted)	44.9	46.3	44.9	43.5	41.7	41.0	40.2	40.4

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.