Welcome to our dedicated page for AVLR news (Ticker: AVLR), a resource for investors and traders seeking the latest updates and insights on AVLR stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect AVLR's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of AVLR's position in the market.
Avalara reported strong financial results for Q3 2021, with total revenue of $181.2 million, up 42% from the previous year. Subscription and returns revenue rose to $164.2 million, a 38% increase, while professional services revenue surged 95% to $16.9 million. However, the company posted a GAAP operating loss of $26.2 million, worsening from a loss of $12.6 million in Q3 2020. Despite this, Avalara's deferred revenue reached $257.9 million, reflecting strong demand for its services.
Avalara (NYSE: AVLR) has enhanced its cross-border compliance capabilities through a partnership with Shopify Markets, automating duty and import tax calculations for over 180 countries. This feature will aid Shopify's 1.7 million merchants in managing international sales effectively. Additionally, Avalara has acquired 3CE Technologies to improve Harmonized System code classification, further streamlining compliance processes. The global e-commerce market grew to $4.2 trillion in 2020, highlighting the significant potential for cross-border sales, with Shopify generating $20 billion in such sales.
Avalara, Inc. (NYSE: AVLR), a leader in tax compliance automation, has announced upcoming virtual investor presentations. CEO Scott McFarlane will present at the Berenberg U.S. CEO Conference on November 10, 2021, at 1:00 p.m. ET. CFO Ross Tennenbaum will present at the Stephens Annual Investment Conference on November 29, 2021, at 1:00 p.m. CT. Live webcasts and archived replays of these presentations will be available on Avalara's investor relations website.
Avalara, Inc. (NYSE: AVLR), a leader in tax compliance automation, will release its third quarter financial results for the period ending September 30, 2021, on November 4, 2021, post-market. The company will hold a conference call and webcast at 2:00 PM PT to discuss the results and key business highlights. Investors can access the webcast at investor.avalara.com. The replay will be available until November 11, 2021.
Avalara (NYSE: AVLR) has announced the acquisition of CrowdReason, a provider of SaaS-based property tax compliance applications, enhancing its tax compliance portfolio. This acquisition allows Avalara to better address property tax management challenges across all U.S. states and the District of Columbia. Key benefits include improved document management, expanded tax content, and streamlined property tax return processes. While the deal's financial terms were undisclosed, it aligns with Avalara's growth strategy to enhance compliance solutions for enterprises.
Avalara (NYSE: AVLR) has acquired Track1099 LLC, enhancing its tax compliance automation software. Track1099 specializes in managing IRS forms like 1099s and W-2s, supporting over 40,000 customers. With the IRS lowering the e-filing threshold from 250 to 100 forms, the acquisition aims to simplify compliance for businesses. The deal adds valuable technology and expertise to Avalara's portfolio, following its previous acquisition of DAVO Technologies. Terms of the deal remain undisclosed, but the integration is expected to provide significant growth opportunities.
Avalara, Inc. (NYSE: AVLR) announced the appointment of Marcela Martin to its board of directors. As CFO of Squarespace, Martin brings over 25 years of global finance expertise, having previously served as CFO at Booking.com. Her experience in managing finance operations, risk, and corporate development is expected to enhance Avalara's strategic direction. The board addition follows the resignation of Chelsea Stoner, effective August 27, 2021, who played a significant role since 2012. Avalara aims to revolutionize tax compliance through automation, aspiring to be integral to every transaction globally.
Avalara announced the pricing of $850 million in 0.25% convertible senior notes due 2026 in a private placement. A 13-day option for an additional $127.5 million has been granted. Net proceeds are estimated at $834.7 million, which will fund acquisitions, product development, and other corporate purposes. The notes will mature on August 1, 2026, with interest payments starting February 1, 2022. The conversion rate is initially set at 4.1940 shares per $1,000, equating to about $238.44 per share, subject to adjustments.
Avalara (NYSE: AVLR) plans to offer $850 million of convertible senior notes due 2026 in a private placement, with a 13-day option for purchasers to buy an additional $127.5 million. Proceeds will fund capped call transactions and general corporate purposes including acquisitions, product development, and working capital. The notes are unsecured and convertible under certain conditions, with payments made in cash or shares. Market activities surrounding the notes could influence Avalara's stock price. The offering is restricted to qualified institutional buyers under Rule 144A of the Securities Act.
FAQ
What is the market cap of AVLR (AVLR)?
