AVID · Avid Technology, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $91.01M | $108.54M | $97.81M | - | $102.98M | $97.68M | $100.65M | - | $101.64M | $94.88M |
| Cost of Revenue | $33.10M | $42.20M | $35.62M | - | $33.21M | $34.31M | $33.88M | - | $35.74M | $34.74M |
| Gross Profit | $57.91M | $66.34M | $62.19M | - | $69.78M | $63.37M | $66.76M | - | $65.90M | $60.14M |
| R&D | $19.77M | $20.00M | $19.43M | - | $17.11M | $16.02M | $16.74M | - | $17.13M | $16.09M |
| SG&A | $17.58M | $16.02M | $16.61M | - | $14.07M | $13.36M | $14.81M | - | $14.90M | $13.68M |
| Total Operating Expenses | $59.76M | $66.87M | $58.70M | - | $55.70M | $53.40M | $53.49M | - | $56.35M | $51.14M |
| D&A | - | - | $2.30M | - | - | - | $1.80M | - | - | - |
| Operating Income | ($1.86M) | ($528.0K) | $3.50M | - | $14.08M | $9.96M | $13.28M | - | $9.55M | $9.00M |
| Interest Expense | $5.06M | $4.21M | $3.71M | - | $2.74M | $1.94M | $1.48M | - | $1.65M | $1.63M |
| Income Tax | $436.0K | ($126.0K) | $309.0K | - | ($665.0K) | $726.0K | $1.13M | - | $991.0K | $359.0K |
| Net Income | ($7.33M) | ($4.60M) | ($381.0K) | - | $12.02M | $7.37M | $10.59M | - | $14.78M | $7.01M |
| EPS - Basic | ($0.17) | ($0.10) | ($0.01) | - | $0.27 | $0.16 | $0.24 | - | $0.32 | $0.15 |
| EPS - Diluted | ($0.17) | ($0.10) | ($0.01) | - | $0.27 | $0.16 | $0.23 | - | $0.32 | $0.15 |
Balance Sheet
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20.96M | $33.50M | $20.86M | $35.25M | $31.34M | $44.33M | $41.24M | $56.82M | $50.48M | $53.34M |
| Accounts Receivable | $56.35M | $58.68M | $62.85M | $76.85M | $55.26M | $53.88M | $57.41M | $77.05M | $58.13M | $58.75M |
| Inventory | $28.59M | $28.03M | $26.37M | $20.98M | $21.99M | $19.25M | $17.82M | $19.92M | $22.21M | $24.24M |
| Accounts Payable | $39.53M | $51.79M | $50.08M | $45.90M | $34.91M | $32.90M | $21.38M | $26.85M | $22.41M | $21.77M |
| Current Assets | $156.51M | $173.68M | $156.29M | $178.97M | $139.88M | $152.02M | $153.06M | $182.52M | $163.96M | $170.61M |
| Total Assets | $273.74M | $293.82M | $273.91M | $287.45M | $237.53M | $247.12M | $245.11M | $274.00M | $248.89M | $256.70M |
| Current Liabilities | $145.78M | $164.26M | $176.95M | $190.62M | $162.27M | $166.89M | $174.26M | $197.37M | $170.51M | $177.14M |
| Long-term Debt | $203.72M | $202.21M | $170.69M | $172.96M | $175.68M | $177.78M | $160.89M | $160.81M | $162.99M | $165.18M |
| Total Liabilities | $396.92M | $412.77M | $392.65M | $406.24M | $378.94M | $383.48M | $375.13M | $398.07M | $375.32M | $386.45M |
| Stockholders' Equity | ($123.19M) | ($118.95M) | ($118.74M) | ($118.78M) | ($141.40M) | ($136.36M) | ($130.02M) | ($124.07M) | ($126.43M) | ($129.74M) |
| Retained Earnings | ($1.08B) | ($1.08B) | ($1.07B) | ($1.07B) | ($1.10B) | ($1.11B) | ($1.12B) | ($1.13B) | ($1.14B) | ($1.16B) |
Cash Flow
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($2.56M) | - | - | - | $7.92M | - | - | - |
| Investing Cash Flow | - | - | ($3.93M) | - | - | - | ($3.24M) | - | - | - |
| Financing Cash Flow | - | - | ($7.82M) | - | - | - | ($19.99M) | - | - | - |
| CapEx | - | - | $3.93M | - | - | - | $3.24M | - | - | - |
| Free Cash Flow | - | - | ($6.49M) | - | - | - | $4.67M | - | - | - |
Ratios
| Metric | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 63.6% | 61.1% | 63.6% | - | 67.8% | 64.9% | 66.3% | - | 64.8% | 63.4% |
| Operating margin | -2.0% | -0.5% | 3.6% | - | 13.7% | 10.2% | 13.2% | - | 9.4% | 9.5% |
| EBITDA margin | - | - | 5.9% | - | - | - | 15.0% | - | - | - |
| Net margin | -8.1% | -4.2% | -0.4% | - | 11.7% | 7.5% | 10.5% | - | 14.5% | 7.4% |
| Free cash flow margin | - | - | -6.6% | - | - | - | 4.6% | - | - | - |
| FCF / Net income | - | - | 17.03 | - | - | - | 0.44 | - | - | - |
| R&D / Revenue | 21.7% | 18.4% | 19.9% | - | 16.6% | 16.4% | 16.6% | - | 16.9% | 17.0% |
| SG&A / Revenue | 19.3% | 14.8% | 17.0% | - | 13.7% | 13.7% | 14.7% | - | 14.7% | 14.4% |
| Effective tax rate | - | - | - | - | -5.9% | 9.0% | 9.6% | - | 6.3% | 4.9% |
| Return on assets | -2.7% | -1.6% | -0.1% | - | 5.1% | 3.0% | 4.3% | - | 5.9% | 2.7% |
| Return on equity | 6.0% | 3.9% | 0.3% | - | -8.5% | -5.4% | -8.1% | - | -11.7% | -5.4% |
| Return on invested capital | -1.8% | -0.5% | 5.3% | - | 41.1% | 21.9% | 38.9% | - | 24.5% | 24.2% |
| Liquidity | ||||||||||
| Current ratio | 1.07 | 1.06 | 0.88 | 0.94 | 0.86 | 0.91 | 0.88 | 0.92 | 0.96 | 0.96 |
| Quick ratio | 0.88 | 0.89 | 0.73 | 0.83 | 0.73 | 0.80 | 0.78 | 0.82 | 0.83 | 0.83 |
| Cash ratio | 0.14 | 0.20 | 0.12 | 0.18 | 0.19 | 0.27 | 0.24 | 0.29 | 0.30 | 0.30 |
| Leverage | ||||||||||
| Debt / Equity | -1.65 | -1.70 | -1.44 | -1.46 | -1.24 | -1.30 | -1.24 | -1.30 | -1.29 | -1.27 |
| Debt / Assets | 0.74 | 0.69 | 0.62 | 0.60 | 0.74 | 0.72 | 0.66 | 0.59 | 0.65 | 0.64 |
| Debt / EBITDA | - | - | 29.46 | - | - | - | 10.67 | - | - | - |
| Interest coverage | -0.4x | -0.1x | 0.9x | - | 5.1x | 5.1x | 9.0x | - | 5.8x | 5.5x |
| Equity multiplier | -2.22 | -2.47 | -2.31 | -2.42 | -1.68 | -1.81 | -1.89 | -2.21 | -1.97 | -1.98 |
| Liabilities / Assets | 1.45 | 1.40 | 1.43 | 1.41 | 1.60 | 1.55 | 1.53 | 1.45 | 1.51 | 1.51 |
| Efficiency | ||||||||||
| Asset turnover | 0.33 | 0.37 | 0.36 | - | 0.43 | 0.40 | 0.41 | - | 0.41 | 0.37 |
| Inventory turnover | 1.16 | 1.51 | 1.35 | - | 1.51 | 1.78 | 1.90 | - | 1.61 | 1.43 |
| Days sales outstanding | 226d | 197d | 235d | - | 196d | 201d | 208d | - | 209d | 226d |
| Days inventory outstanding | 315d | 242d | 270d | - | 242d | 205d | 192d | - | 227d | 255d |
| Days payable outstanding | 436d | 448d | 513d | - | 384d | 350d | 230d | - | 229d | 229d |
| Cash conversion cycle | 105d | -8d | -8d | - | 54d | 56d | 170d | - | 207d | 252d |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -11.6% | 11.1% | -2.8% | - | 1.3% | 3.0% | 6.7% | - | 12.4% | 19.7% |
| Revenue CAGR (3y) | 0.2% | 11.0% | 4.2% | - | -0.3% | -0.3% | -0.9% | - | -0.8% | -1.3% |
| Revenue CAGR (5y) | -2.6% | 1.9% | -0.0% | - | -0.4% | -0.9% | -0.7% | - | -3.1% | -6.7% |
| Gross profit growth (YoY) | -17.0% | 4.7% | -6.8% | - | 5.9% | 5.4% | 8.7% | - | 13.1% | 16.6% |
| Operating income growth (YoY) | - | - | -73.7% | - | 47.5% | 10.7% | 25.9% | - | -27.2% | 11.6% |
| Net income growth (YoY) | - | - | - | - | -18.6% | 5.2% | 141.1% | - | 85.0% | 279.7% |
| EPS growth (YoY) | - | - | - | - | -15.6% | 6.7% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | 3.3% | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | -57.8% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | 20.9% | - | - | - |
| Book value growth (YoY) | 12.9% | 12.8% | 8.7% | 4.3% | -11.8% | -5.1% | 3.4% | 6.7% | 12.3% | 17.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$589.03M totalService$179.09M · 30.4%
Integrated Solutions$131.07M · 22.3%
Maintenance$122.41M · 20.8%
Product$108.44M · 18.4%
Professional Services Training And Other Services$24.22M · 4.1%
License$23.79M · 4.0%
Geographic
$409.94M totalUS$173.72M · 42.4%
Europe Middle East And Africa$160.39M · 39.1%
Asia Pacific$55.44M · 13.5%
Other Americas$20.40M · 5.0%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing AVID TECHNOLOGY against the 5 most active filers in the same SIC group.