AVLR · Avalara, 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 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $208.59M | $204.53M | - | $181.17M | $169.07M | $153.60M | - | $127.88M | $116.49M | $111.44M |
| Cost of Revenue | $62.07M | $60.13M | - | $53.04M | $48.67M | $44.67M | - | $34.93M | $33.33M | $34.25M |
| Gross Profit | $146.52M | $144.40M | - | $128.13M | $120.39M | $108.93M | - | $92.95M | $83.16M | $77.19M |
| R&D | $56.65M | $50.85M | - | $42.57M | $40.11M | $39.16M | - | $32.56M | $26.84M | $25.85M |
| SG&A | $44.59M | $42.19M | - | $35.89M | $35.24M | $30.85M | - | $23.89M | $20.32M | $21.39M |
| Total Operating Expenses | $202.48M | $179.49M | - | $154.33M | $147.25M | $134.31M | - | $105.50M | $93.21M | $96.87M |
| D&A | $4.30M | $11.13M | - | $3.30M | $2.80M | $7.07M | - | $2.50M | $2.30M | $4.09M |
| Operating Income | ($55.96M) | ($35.09M) | - | ($26.20M) | ($26.86M) | ($25.38M) | - | ($12.56M) | ($10.05M) | ($19.68M) |
| Interest Expense | $1.50M | $1.50M | - | $815.0K | - | - | - | $0 | $0 | $0 |
| Income Tax | $895.0K | $285.0K | - | ($610.0K) | ($148.0K) | $2.36M | - | $393.0K | $137.0K | $417.0K |
| Net Income | ($55.85M) | ($32.56M) | - | ($32.55M) | ($27.65M) | ($29.99M) | - | ($12.73M) | ($10.14M) | ($15.28M) |
| EPS - Basic | ($0.36) | - | - | - | - | - | - | - | - | - |
| EPS - Diluted | ($0.36) | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Line item | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.46B | $1.48B | $1.51B | $1.54B | $639.48M | $638.79M | $673.59M | $1.06B | $474.41M | $450.54M |
| Accounts Receivable | $115.52M | $113.47M | $114.25M | $96.31M | $85.53M | $90.13M | $75.86M | $63.06M | $59.78M | $53.80M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $19.19M | $18.21M | $16.68M | $18.74M | $17.48M | $18.36M | $20.28M | $16.64M | $14.35M | $15.29M |
| Current Assets | $1.71B | $1.76B | $1.78B | $1.80B | $852.24M | $837.06M | $832.91M | $1.18B | $584.40M | $561.56M |
| Total Assets | $2.64B | $2.67B | $2.70B | $2.64B | $1.68B | $1.60B | $1.60B | $1.43B | $828.22M | $805.89M |
| Current Liabilities | $538.13M | $558.10M | $567.67M | $539.02M | $470.19M | $389.46M | $378.95M | $296.15M | $265.48M | $267.80M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $1.62B | $1.64B | $1.67B | $1.60B | $574.61M | $520.42M | $522.17M | $359.72M | $328.02M | $329.60M |
| Stockholders' Equity | $1.03B | $1.04B | $1.03B | $1.04B | $1.11B | $1.08B | $1.08B | $1.07B | $500.20M | $476.29M |
| Retained Earnings | ($791.27M) | ($735.43M) | ($684.61M) | ($649.56M) | ($617.01M) | ($589.37M) | ($559.38M) | ($548.35M) | ($535.62M) | ($525.48M) |
Cash Flow
| Line item | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | ($23.07M) | - | - | - | ($28.25M) | - | - | - | ($24.27M) |
| Investing Cash Flow | - | ($8.05M) | - | - | - | ($5.84M) | - | - | - | ($5.51M) |
| Financing Cash Flow | - | $929.0K | - | - | - | $13.55M | - | - | - | $13.73M |
| CapEx | - | $2.15M | - | - | - | $1.37M | - | - | - | $1.60M |
| Free Cash Flow | - | ($25.21M) | - | - | - | ($29.61M) | - | - | - | ($25.87M) |
Ratios
| Metric | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 70.2% | 70.6% | - | 70.7% | 71.2% | 70.9% | - | 72.7% | 71.4% | 69.3% |
| Operating margin | -26.8% | -17.2% | - | -14.5% | -15.9% | -16.5% | - | -9.8% | -8.6% | -17.7% |
| EBITDA margin | -24.8% | -11.7% | - | -12.6% | -14.2% | -11.9% | - | -7.9% | -6.7% | -14.0% |
| Net margin | -26.8% | -15.9% | - | -18.0% | -16.4% | -19.5% | - | -10.0% | -8.7% | -13.7% |
| Free cash flow margin | - | -12.3% | - | - | - | -19.3% | - | - | - | -23.2% |
| FCF / Net income | - | 0.77 | - | - | - | 0.99 | - | - | - | 1.69 |
| R&D / Revenue | 27.2% | 24.9% | - | 23.5% | 23.7% | 25.5% | - | 25.5% | 23.0% | 23.2% |
| SG&A / Revenue | 21.4% | 20.6% | - | 19.8% | 20.8% | 20.1% | - | 18.7% | 17.4% | 19.2% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -2.1% | -1.2% | - | -1.2% | -1.6% | -1.9% | - | -0.9% | -1.2% | -1.9% |
| Return on equity | -5.4% | -3.1% | - | -3.1% | -2.5% | -2.8% | - | -1.2% | -2.0% | -3.2% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.18 | 3.15 | 3.13 | 3.34 | 1.81 | 2.15 | 2.20 | 3.99 | 2.20 | 2.10 |
| Quick ratio | 3.18 | 3.15 | 3.13 | 3.34 | 1.81 | 2.15 | 2.20 | 3.99 | 2.20 | 2.10 |
| Cash ratio | 2.71 | 2.66 | 2.67 | 2.85 | 1.36 | 1.64 | 1.78 | 3.59 | 1.79 | 1.68 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -37.4x | -23.5x | - | -32.1x | - | - | - | - | - | - |
| Equity multiplier | 2.58 | 2.58 | 2.63 | 2.55 | 1.52 | 1.48 | 1.48 | 1.34 | 1.66 | 1.69 |
| Liabilities / Assets | 0.61 | 0.61 | 0.62 | 0.61 | 0.34 | 0.32 | 0.33 | 0.25 | 0.40 | 0.41 |
| Efficiency | ||||||||||
| Asset turnover | 0.08 | 0.08 | - | 0.07 | 0.10 | 0.10 | - | 0.09 | 0.14 | 0.14 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 202d | 202d | - | 194d | 185d | 214d | - | 180d | 187d | 176d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 113d | 111d | - | 129d | 131d | 150d | - | 174d | 157d | 163d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 23.4% | 33.2% | - | 41.7% | 45.1% | 37.8% | - | 82.9% | 82.4% | 81.6% |
| Revenue CAGR (3y) | 48.4% | 49.4% | - | 48.5% | 49.2% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 21.7% | 32.6% | - | 37.8% | 44.8% | 41.1% | - | 35.2% | 30.0% | 29.4% |
| Operating income growth (YoY) | -108.3% | -38.2% | - | -108.7% | -167.3% | -29.0% | - | 10.0% | 26.8% | -102.2% |
| Net income growth (YoY) | -102.0% | -8.6% | - | -155.7% | -172.7% | -96.2% | - | -3.0% | 23.0% | -65.3% |
| EPS growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | 14.9% | - | - | - | -14.5% | - | - | - | -52.2% |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -7.1% | -4.2% | -5.0% | -2.9% | 121.0% | 127.1% | 132.9% | 130.0% | 10.6% | 181.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$1.28B totalSubscription And Circulation$633.09M · 49.4%
Subscription And Returns Tax Calculations$349.43M · 27.2%
Subscription And Returns Tax Returns And Compliance Management$233.42M · 18.2%
Professional Services$65.89M · 5.1%
Subscription And Returns Interest Income On Funds Held From Customers$769.0K · 0.1%
Geographic
$698.98M totalUS$643.13M · 92.0%
Non Us$55.84M · 8.0%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing AVALARA against the 5 most active filers in the same SIC group.