Avid Q4 results mixed, co guides FY 2023 revenue, adj. EPS in-line

Mar. 01, 2023 4:11 PM ETAvid Technology, Inc. (AVID)By: Anuron Mitra, SA News Editor

Avid press release (NASDAQ:AVID): Q4 Non-GAAP EPS of $0.45 misses by $0.03.
Revenue of $116.1M (-2.5% Y/Y) beats by $1.09M.
Subscription ARR of $141.3M, an increase of 37.1% year-over-year and 38.8% at constant currency, and total ARR of $244.9M, an increase of 10.2% year-over-year and 13.4% at constant currency.
Sees Q1 2023 ARR, at end of period, of $247M to $251M.
Sees Q1 2023 revenue of $97M to $105M. The consensus Q1 2023 revenue estimate is $105.20M.
Sees Q1 2023 adj. EPS of $0.21 to $0.29. The consensus Q1 2023 EPS estimate is $0.30.
Sees FY 2023 ARR, at end of period, of $270M to $280M.
Sees FY 2023 revenue of $447M to $472M. The consensus FY 2023 revenue estimate is $454.44M.
Sees FY 2023 adj. EPS of $1.53 to $1.75. The consensus FY 2023 EPS estimate is $1.64.