Avaya Holdings Corp. reported its financial results for the fourth quarter of fiscal 2021 ended September 30, 2021. The financial highlights included the below:
- Q4 Revenues of $760 million and fiscal 2021 revenues of $2.973 billion. Fiscal 2021 revenue includes an adjustment of approximately $15 million for the cumulative effect of an understatement of revenue in prior periods
- OneCloud ARR (Annualised Recurring Revenue) was $530 million, up 25% sequentially and 177% from a year ago
- CAPS (Cloud, Alliance Partner and Subscription) was 44% of revenue, up from 33% a year ago; and 40% for fiscal 2021
- For fiscal 2021, software and services were 88% of revenue, flat year over year
- Recurring revenue was 66% for fiscal 2021, up from 63% a year ago
- GAAP Operating income was $33 million and Non-GAAP Operating income was $145 million; for fiscal 2021 GAAP Operating income was $180 million and Non-GAAP Operating income was $602 million
- GAAP Net income was $6 million and Non-GAAP Net income was $74 million; for fiscal 2021 GAAP Net loss was $13 million and Non-GAAP Net income was $304 million
- Adjusted EBITDA was $179 million, 23.6% of revenue, down 290 basis points year over year; for fiscal 2021 Adjusted EBITDA was $719 million, 24.2% of revenue
- GAAP Earnings Per Share of $0.06 and Non-GAAP Earnings Per Share of $0.77; for fiscal 2021 GAAP Loss Per Share was $0.20 and Non-GAAP Earnings Per Share was $3.16
- Ending cash and cash equivalents were $498 million
“Fiscal year 2021 for Avaya was a year marked by many firsts, and the outstanding results we delivered exceeded expectations on most every front. Most impressive is the fact that we reversed over a decade of annual revenue declines, delivering year over year growth closing up approximately $100 million, while we also grew ARR 177% to $530 million”, said Jim Chirico, President and CEO of Avaya. “This year marked a real and substantive milestone for the company and I couldn’t be prouder of the performance or more thankful for the commitment of our customers and partners and performance of our global team as we’ve navigated a purposeful and deliberate journey of transformation to be an enterprise cloud leader”.
View the full financial report here.