Welcome to our dedicated page for Avalara news (Ticker: AVLR), a resource for investors and traders seeking the latest updates and insights on Avalara stock.
This page contains historical news coverage for Avalara Inc (AVLR), which operated as a tax compliance software company before being acquired by Vista Equity Partners. The company specialized in cloud-based solutions for sales tax, VAT, and other transaction tax automation.
Avalara's news typically covered product launches and integrations with major business software platforms, as the company continuously expanded its ecosystem of certified connections with accounting systems, e-commerce platforms, and ERP solutions. Partnership announcements represented a key category of news, as each new integration extended Avalara's reach into different business workflows and industries.
Earnings reports and financial results provided insights into the company's subscription revenue growth and customer acquisition trends, reflecting the health of the tax technology SaaS market. The company also generated news around regulatory changes affecting transaction tax compliance, positioning itself as a resource for businesses navigating evolving nexus rules and cross-border tax obligations.
This archive documents the company's journey from a specialized tax software provider to its acquisition, including developments around shareholder proceedings and transaction approval processes. Browse historical news to understand Avalara's business evolution and the events surrounding its transition to private ownership.
Avalara, Inc. (NYSE: AVLR) will report its fourth quarter and fiscal year financial results on February 10, 2022, after market close. A conference call is scheduled for the same day at 2:00 PM PT to discuss the results and business highlights. Stakeholders can join via phone or through a webcast on the company's investor relations site. The earnings report will provide insights into Avalara's tax compliance automation services, which assist businesses in navigating various tax regulations.
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.
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