Tag: avaya

Avaya has completed its financial restructuring, emerged from the Chapter 11 process, and has $650 million left to sort itself out.

Avaya filed for Chapter 11 bankruptcy protection in February following months of speculation of a bankruptcy declaration after its 2022 cloud subscription accounting problems that led to substantial earnings and revenue misses.

In its bankruptcy court filing, Avaya listed total assets of between $1 billion and $10 billion and total liabilities of between $1 to $10 billion.

Avaya has been bankrupt before and seems to be immortal. It did all this in 2017. Read more…

Avaya is providing Kettering Buccleuch Academy (KBA), a multi-age, Northamptonshire school, with its all-in-one, cloud-based communications solution to create a more cohesive digital environment.

KBA chose Avaya Cloud Office and will provide communication within the school and indirectly using technologies such as audio, video, and messaging systems and employing these functions to enable better outcomes. This includes the links between departments, parents and carers, partners and suppliers, and with outside authorities. Read more…

Unified communications giant Avaya is filing for bankruptcy for the second time in six years.

The struggling firm filed for Chapter 11 bankruptcy protection in federal court in Texas. This had long been expected due to the company’s 2022 cloud subscription accounting problems, which led to substantial earnings and revenue target misses.

Avaya said in a press release that its Chapter 11 actions “will not impact the company’s customers, channel and strategic partners, suppliers, vendors or employees.” Read more…

Avaya reported some pretty good financial results for its fourth quarter.

The company said it made revenues of $760 million and fiscal 2021 revenues of $2.973 billion. Fiscal 2021 revenue included a $15 million adjustment for the cumulative effect of an understatement of revenue in prior periods.

OneCloud Annualised Recurring Revenue was $530 million, up 25 percent sequentially and 177 percent from a year ago. Cloud, Alliance Partner and Subscription was 44 percent of revenue, up from 33 percent a year ago; and 40 percent for fiscal 2021

For fiscal 2021, software and services were flat but recurring revenue was 66 percent for fiscal 2021, up from 63 percent 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 per cent of revenue, down 290 basis points year over year; for fiscal 2021 Adjusted EBITDA was $719 million, 24.2% of revenue
Ending cash and cash equivalents were $498 million.

Avaya President and CEO Jim Chirico said the year was marked by many firsts, and the outstanding results exceeded expectations on almost 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 per cent to $530 million”, he said.

“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.”

More than half of UK workers have felt happier over the past year as a result of working from home, according to a study commissioned by Avaya.

The Life and Work Beyond 2020 study, conducted by research firm Davies Hickman Partners, polled 10,000 consumers and workers in 11 countries to discover the impacts of COVID-19 on consumer wellbeing and values as the world embraces a new world of work.

The research found that workers in the UK are among the most appreciative of work-from-anywhere models, with 44 percent saying that the ability to conduct hybrid work – from a home or office – would contribute to their happiness. The survey also revealed that over half UK workers feel they have the right technology to work from wherever they want. However, the UK has some catching up to do as it trails in 6th place behind India, where 73 percent consider themselves to be equipped for remote working as well as the UAE with 64 percent and the US with 62 percent.

A key finding is that only 30 percent of UK employees said that they loved the idea of being able to work from anywhere in the future, meaning that a key requirement for business success in 2021 and beyond will be building a hybrid model of work that suits the needs of every employee. Read more…

Avaya CEO and president Jim Chirico took time out of his results call to praise the outfit’s channel.

Chirico said that revenues from its Cloud, Alliance Partner and Subscription growth engines had more than doubled from the same period last year and now accounted for 34 percent of total revenue.

Those numbers, for the three months ended 31 December 2020, showed a  four percent climb in revenues to $743 million. Read more…

Avaya announced a redesign of its Avaya Vantage desktop device in a bid to spruce up its home office offerings.

The Avaya Vantage is an all-in-one meeting solution for the home office which includes a built-in high definition conferencing camera, wide band audio and four microphones and is designed to do away with a laptop.

Avaya also announced that it has integrated the Avaya Vantage with its Avaya Spaces collaboration app. Avaya Spaces is the cloud-based team collaboration and meeting tool that is changing how work gets done, enabling the digital workplace by bringing together distributed groups of people instantly with immersive work spaces where they can message, meet, share content, manage tasks and collaborate in the cloud.

The Avaya Vantage and Avaya Spaces are part of Avaya’s Composable Home Office Solutions strategy – which is driven by the Avaya OneCloud framework and uses the capabilities Avaya OneCloud UCaaS, CCaaS and CPaaS.  Read more…

Avaya’s shares jumped 15 percent after sales beat expectations. This means shares in the outfit have almost doubled in 2020.

The outfit’s third quarter revenue of $721 million was much better than the predicted $687 million.  GAAP Operating income was $53 million and Non-GAAP Operating income was $164 million and Net income was $9 million.

Chief Executive Officer Jim Chirico said: “The company grew sequentially and year over year, which marks a major milestone for Avaya. Software and services as a percent of revenue was 89 per cent – beating the record set this past March.” Read more…