Avaya Reports Second Quarter Fiscal 2021 Financial Results

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