Company Report

Avaya’s CAPS revenue up from 18% a year ago in Q1 2021

Avaya Holdings Corp. (NYSE: AVYA) reported financial results for the first quarter of fiscal 2021 ended December 31, 2020.

CAPS revenue growth of ~$300 million, which will represent between 35% and 40% of Avaya’s total revenue in FY21.

CAPS (Cloud, Alliance Partner and Subscription) revenue was 34%, up from 18% a year ago.

As Avaya’s CAPS metric reflects revenue that is already recognized, management believes it would be helpful to provide investors with a better view into the performance of the company’s broader-based OneCloud software solutions that are driving the company’s recurring revenue growth by also providing a forward-looking metric, Annualized Recurring Revenue, or OneCloud ARR.


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