Why is Avaya Holdings Corp. (AVYA) stock rallied today?

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Avaya Holdings Corp. (AVYA) stock announced fourth quarter and fiscal 2021 financial results after which the stock became bullish today. AVYA stock price saw a push of 23.88% to reach $22.20 a share at the time of this writing. The trading volume was 1,131,555, significantly higher than the average trading volume.

Fourth Quarter and Fiscal Year 2021 Financial Results:

  • AVYA stock generated $760 million in revenue in the fourth quarter of 2021. The fiscal year 2021 revenue totaled $2.973 billion.
  • The annualized recurring revenue for OneCloud reached $530 million, 25% high sequentially and 177% over the year.
  • CAPS (Cloud, Alliance Partner, and Subscription) represented a 33% increase from a year ago to reach 44% of revenue.
  • Software and services remained flat year over year to 88% of the revenue.
  • For the fiscal year 2021, AVYA stock recurring revenue was 66%. This represents an increase of 63% over the year.
  • AVYA stock reported $33 million in GAAP operating income and $145 million in non-GAAP operating income. For the fiscal year 2021, GAAP Operating income and non-GAAP operating income were $180 million and $602 million
  • The stock reported $6 million GAAP net income and $74 million in non-GAAP net income. The GAAP net loss was $13 million for the fiscal year 2021 and non-GAAP net income was $304 million.
  • The Adjusted EBITDA declined by 290 basis points year over year to drop at $179 million. For fiscal 2021, adjusted EBITDA was 24.2% of revenue.
  • AVYA stock reported $0.06 GAAP earnings per share and $0.77 in non-GAAP earnings per share in the reported quarter. The stock reported $0.20 and $3.16 GAAP loss per share and non-GAAP earnings per share in fiscal 2021.
  • By the end of fourth-quarter 2021, AVYA stock had $498 million in cash and cash equivalents.

Outlook of AVYA stock:

For the first quarter of fiscal 2022, the Avaya stock has projected its revenue between $725 million to $745 million. The company anticipates $33 million to $48 million GAAP operating income and 5% to 6% GAAP operating margin. AVYA stock estimates non-GAAP operating income of $131 million to $146 million in the first quarter of fiscal 2022. The company projected $160 million to $175 million adjusted EBITDA for the first quarter of fiscal 2022. For the full fiscal year 2022, the company has estimated revenue between $2.975 billion to $3.025 billion.

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