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Avalara, a leader in cloud-based tax compliance automation, has launched Avalara Content Generation for POS. This new solution aids businesses with physical locations in managing complex tax calculations at point-of-sale systems. By providing up-to-date tax content, it addresses challenges such as varying tax rates and rules across jurisdictions. Key benefits include reduced compliance risks, streamlined operations across checkout systems, improved customer experience, and enhanced efficiency in tax calculations.
Avalara, a leading provider of tax compliance automation, will host a Virtual Analyst Day on May 27, 2021, as part of its annual CRUSH Virtual conference. Presentations from the executive team will begin at 11:30 a.m. PT and conclude at 2:00 p.m. PT. The event can be accessed via a webcast and will be archived for later viewing.
Avalara, Inc. (NYSE: AVLR) reported strong financial results for Q1 2021, with total revenue of $153.6 million, a 38% increase from Q1 2020. Subscription revenue rose 32% to $139.3 million, while professional services revenue surged 142% to $14.3 million. Despite a GAAP net loss of $30 million, the company achieved a gross margin of 71% and saw calculated billings grow to $171.8 million. Looking ahead, Avalara expects Q2 revenue between $153.0 and $155.0 million and full-year revenue of $650.0 to $654.0 million, indicating continued growth.
Avalara, a leader in tax compliance automation, has announced participation in several upcoming virtual investor conferences. CEO Scott McFarlane will present at the J.P. Morgan Global Technology, Media, and Communications Conference on May 24, 2021, and at the BofA Securities Global Technology Conference on June 9, 2021. CFO Ross Tennenbaum is scheduled to present at the Needham Virtual Technology and Media Conference on May 17, the William Blair Growth Stock Conference on June 1, and the Stifel Virtual Cross Sector Insight Conference on June 8. Webcasts will be available on Avalara's investor relations website.
Avalara, Inc. (NYSE: AVLR) has announced 22 newly certified integrations with a variety of software applications, enhancing its cloud-based tax compliance automation solutions. These integrations aim to provide a seamless experience for customers by ensuring reliable tax calculations for billing items across multiple jurisdictions. Avalara’s commitment to partnerships focuses on integrating with technology solutions already utilized by clients, thus streamlining tax management processes. The new integrations include solutions for retail, winery management, commodity trading, and B2B ecommerce, among others.
Avalara, a leader in cloud-based tax compliance automation, has launched Avalara Shipping Verification for Beverage Alcohol. This new tool enhances Avalara for Beverage Alcohol by enabling wineries, breweries, and retailers to verify compliance with various legal shipping requirements in real time. Key compliance areas checked include license requirements, dry areas, volume limits, and age validation. As regulations for direct-to-consumer alcohol shipments become more complex, this feature helps mitigate risks and ensure operational readiness. Avalara Shipping Verification is bundled with AvaTax for Beverage Alcohol at no extra cost.
Avalara, Inc. (NYSE: AVLR) will report its financial results for the first quarter ended March 31, 2021, on May 6, 2021, after market close. A conference call will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results and key business developments. Interested parties can join the call by dialing (866) 393-4306 from the U.S. and Canada or (734) 385-2616 internationally, using conference ID 5876383. A webcast will also be available on Avalara's investor relations website.
Avalara (NYSE: AVLR) announced the acquisition of DAVO Technologies LLC, specializing in sales tax automation for small businesses. DAVO aids over 4,000 merchants, including restaurants and shops, by automating tax compliance via POS integration. This acquisition enhances Avalara's services, offering expanded tax compliance solutions and leveraging DAVO's partner relationships. Financial terms were not disclosed. Avalara aims to streamline sales tax management and improve customer service, affirming its commitment to growth and compliance technology.
Avalara (NYSE: AVLR) announced its fifth annual Avalara CRUSH Virtual tax conference, featuring keynotes focused on tax compliance, commerce, and technology. Moderated by industry leaders, attendees will explore topics including regulatory change, ecommerce trends, and leveraging technology post-COVID-19. Notable speakers include Diane Swonk and Brent Bellm. New this year, CRUSH City offers interactive experiences to help solve tax challenges. The event, hosted by Soledad O’Brien and Scott McFarlane, aims to empower participants with insights into navigating evolving global tax landscapes.
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