Avid Technology, Inc. (AVID) financial statements (2022 and earlier)

Company profile

Business Address 75 NETWORK DRIVE
BURLINGTON, MA 01803
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments57505356804956
Cash and cash equivalents57505356804956
Restricted cash and investments2111122
Receivables77585959796053
Inventory, net of allowances, customer advances and progress billings20222428272830
Inventory20222428272830
Prepaid expense579761110
Contract with customer, asset19      
Other current assets2222236
Other undisclosed current assets 232222191518
Total current assets:183164171175213167173
Noncurrent Assets
Operating lease, right-of-use asset24252728293029
Property, plant and equipment16151516171918
Intangible assets, net (including goodwill)33333333333333
Goodwill33333333333333
Deferred income tax assets5566777
Other noncurrent assets13666665
Total noncurrent assets:91858688929492
TOTAL ASSETS:274249257263305261265
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities101857981958171
Accounts payable27222219221318
Accrued liabilities38353335423529
Employee-related liabilities35262326293022
Taxes payable1121222
Deferred revenue87778186887174
Debt0006   
Other undisclosed current liabilities99173543
Total current liabilities:197171177177188156149
Noncurrent Liabilities
Long-term debt and lease obligation24242627303028
Long-term debt, excluding current maturities1   1  
Finance lease, liability   0 1 
Operating lease, liability23242627282928
Liabilities, other than long-term debt17171819191617
Deferred revenue11101111111012
Other liabilities6777865
Other undisclosed noncurrent liabilities160163165175201204227
Total noncurrent liabilities:201205209221250250273
Total liabilities:398375386398438406422
Stockholders' equity
Stockholders' equity attributable to parent(124)(126)(130)(135)(133)(144)(156)
Common stock0000000
Treasury stock, value(25)(11)     
Additional paid in capital1,0321,0301,0301,0321,0371,0341,030
Accumulated other comprehensive loss(4)(4)(3)(3)(2)(3)(4)
Accumulated deficit(1,127)(1,142)(1,157)(1,164)(1,168)(1,175)(1,183)
Total stockholders' equity:(124)(126)(130)(135)(133)(144)(156)
TOTAL LIABILITIES AND EQUITY:274249257263305261265

Income statement (P&L) ($ in millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Revenues11910295941049079
Cost of revenue(41)(36)(35)(33)(39)(32)(28)
Gross profit:78666061655852
Operating expenses(61)(56)(51)(51)(55)(45)(44)
Operating income:171091111138
Nonoperating income (expense)5   (1)  
Interest and debt expense(2)(2)(2)(6)(5)(4)(5)
Other undisclosed income from continuing operations before equity method investments, income taxes    2  
Income from continuing operations before equity method investments, income taxes:20875793
Other undisclosed income (loss) from continuing operations before income taxes(4)8     
Income from continuing operations before income taxes:161675793
Income tax expense (benefit)(1)(1)(0)(0)0(1)(1)
Net income available to common stockholders, diluted:151574782

Comprehensive Income ($ in millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Net income:151574782
Other comprehensive income (loss) (1)0(1) 11
Other undisclosed comprehensive income (loss)(0)   1 (1)
Comprehensive income, net of tax, attributable to parent:151473892

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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