AVLR - AVLR STOCK NEWS

Avalara, a cloud-based tax compliance automation provider, announced the launch of 10 new certified integrations with various software solutions, enhancing their service offerings. These integrations aim to simplify tax management for businesses, allowing for real-time tax calculations across numerous jurisdictions. Additionally, Avalara introduced 22 new marketplace connectors to bolster their automated compliance solutions, reducing noncompliance risks while improving the B2B experience. This strategic move underscores Avalara's commitment to integrating with existing customer technologies for better efficiency.

Avalara, a tax compliance automation provider, announced strong financial results for Q4 and FY 2020. Q4 revenue reached $144.8 million, up 35% YoY, with calculated billings of $167.1 million, a 38% increase. For FY 2020, revenue hit $500.6 million, reflecting a 31% increase. The gross margin improved to 72% in Q4. Despite a GAAP operating loss of $19.7 million, non-GAAP results showed progress with net income of $8.1 million. Deferred revenue rose to $209.7 million. Looking ahead, Avalara expects Q1 2021 revenue between $142 million and $144 million.

Avalara, a leader in tax compliance automation, has announced participation in several upcoming virtual investor conferences. CEO Scott McFarlane will present at the Goldman Sachs Technology and Internet Conference on February 11, 2021, and the Morgan Stanley Technology, Media & Telecom Conference on March 2, 2021. CFO Ross Tennenbaum will speak at the JMP Securities Technology Conference on March 1, 2021, followed by the Raymond James Institutional Investors Conference on March 3, and the Stephens Virtual Best Ideas Conference on March 11. Live webcasts will be available on the Avalara investor relations website.

Avalara, a leader in cloud-based tax compliance, announced its new product, Avalara Vendor Exemption Management. This tool aims to streamline the management of sales tax exemption documents for businesses. It automates the creation, tracking, and provision of exemption certificates to help tax-exempt organizations enhance compliance and efficiency. The product mitigates supply chain disruptions and minimizes audit risks by improving documentation accuracy. Avalara integrates this solution with its existing CertCapture application for seamless management of tax exemption documents.

Avalara (NYSE: AVLR) announced its fifth annual tax conference, Avalara CRUSH Virtual, scheduled for May 27, 2021. This fully virtual event aims to help businesses navigate the evolving landscape of tax compliance following the pandemic. CEO Scott McFarlane emphasized the importance of providing essential resources for compliance amidst ongoing changes. Attendees can explore CRUSH City, a new immersive activity center featuring product demos and peer networking opportunities. The event promises sessions from industry leaders on regulatory changes, digital transformation, and tailored industry insights.

Avalara (NYSE: AVLR) has launched the new Avalara Developer portal, enhancing integration opportunities for developers. The redesigned site features an API explorer for comprehensive documentation, integration guides specific to various applications, and access to Avalara-specific content, including on-demand webinars. Sanjay Parthasarathy, chief product officer, emphasized the importance of these resources for developers to maintain integrations effectively, which are crucial for Avalara's business success.

Avalara, Inc. (NYSE: AVLR) will report its fourth quarter and fiscal year results for the period ended December 31, 2020 on February 10, 2021, after market close. A conference call will take place at 2:00 p.m. PT (or 5:00 p.m. ET) to discuss the financial results and business highlights. Interested parties can join the call via phone or webcast. The earnings report will provide insights into Avalara's performance in tax compliance automation.

Avalara (NYSE: AVLR) has launched Avalara Managed Returns for Accountants (MRA), a cloud-based solution aimed at improving sales tax compliance for accounting firms. MRA helps automate tax return preparation and filing, thereby enhancing efficiency and reducing compliance risks for clients. Leveraging technology that processed over 1.5 million returns and remitted $9 billion in sales tax in 2020, MRA also allows remote management of returns and supports omnichannel data imports. This initiative addresses growing tax compliance challenges, especially post-South Dakota v. Wayfair ruling.

Avalara has announced a definitive agreement to acquire INPOSIA Solutions GmbH, a German software firm specializing in e-invoicing and digital tax reporting. This move aims to enhance Avalara's capabilities in meeting global real-time compliance requirements as governments adopt quicker data exchange for tax collection. The financial terms remain undisclosed, and the deal is expected to close in the first half of 2021. The acquisition aligns with Avalara's growth strategy, previously bolstered by acquisitions like TTR and Impendulo, further solidifying its position as a leading provider in compliance automation.