Avaya Holdings Corp. (NYSE: AVYA) today reported financial results for the second quarter of fiscal 2022 ended March 31, 2022.
Second Quarter Financial Highlights
- Revenues of $716 million, down 2% year over year in constant currency
- OneCloud ARR (Annualized Recurring Revenue) was $750 million, up 21% sequentially and 118% from a year ago
- CAPS (Cloud, Alliance Partner and Subscription) was 54% of revenue, up from 40% a year ago
- Software and Services were 89% of revenue; Software was 67% of revenue
- Recurring revenue was 69% of revenue, up from 66% a year ago
- GAAP Operating income was $23 million and Non-GAAP Operating income was $115 million
- GAAP Net loss was $1 million and Non-GAAP Net income was $51 million
- Adjusted EBITDA was $145 million, 20% of revenue, down 370 basis points year over year
- GAAP Diluted Loss Per Share of $0.02 and Non-GAAP Diluted Earnings Per Share of $0.53
- Ending cash and cash equivalents were $324 million
