AVYA - AVYA STOCK NEWS

Avaya (NYSE: AVYA) has been named a Leader in The Aragon Research Globe™ for Intelligent Video Conferencing, 2022. The report highlights Avaya's advancements in video meetings through its Avaya Spaces platform, which enhances collaboration for hybrid workplaces. The company's strategic partnerships, especially with NVIDIA, boost its video capabilities. Avaya's solutions support continuous collaboration, addressing challenges in the evolving work environment, and position it well to meet enterprise needs.

Avaya Holdings Corp. (NYSE: AVYA) received a notice from the New York Stock Exchange for not timely filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. The notice indicates non-compliance with NYSE rules but has no immediate effect on stock listing. Avaya has six months, until February 15, 2023, to file the report and regain compliance, with a possible extension of six months. The company is addressing the filing delay and expects to submit the Form 10-Q by the deadline.

Avaya Holdings Corp. (NYSE: AVYA) reported preliminary third-quarter fiscal 2022 results, showing a 20% year-over-year decline in revenues to $577 million despite a 12% sequential increase in OneCloud ARR to approximately $838 million. The company experienced a GAAP net loss of $1,408 million, driven significantly by a non-cash impairment charge of $1,272 million. Adjusted EBITDA dropped to $54 million, marking a 9% margin. Avaya aims to enhance its financial flexibility through recent financings and aggressive cost-cutting initiatives.

Avaya Holdings Corp. (NYSE: AVYA) announced the appointment of Alan Masarek as President and CEO, effective August 1, 2022. He succeeds Jim Chirico, who will transition out of his role. Masarek, known for his transformative leadership at Vonage, aims to leverage his extensive experience in cloud communications to drive growth at Avaya. He emphasized a comprehensive review of business operations to enhance stakeholder value and deliver innovative solutions.

Avaya Holdings Corp. (NYSE: AVYA) announced preliminary financial results for Q3 2022, expecting revenue between $575 million and $580 million, significantly lower than guidance of $685 million to $700 million. Adjusted EBITDA is expected to range from $50 million to $55 million, compared to prior guidance of $140 million to $150 million. The company anticipates substantial non-cash impairment charges of at least $650 million due to goodwill and intangible asset tests.

Avaya Holdings Corp. (NYSE: AVYA) announced financing commitments totaling $600 million, increasing from a previously announced $500 million due to high demand. The financing consists of $350 million in new Senior Secured Term Loans and $250 million in Exchangeable Senior Secured Notes, both maturing in 2027. This funding supports the company’s business model transformation and addresses convertible notes maturing in June 2024. The transactions are expected to close this quarter, pending market conditions.

Avaya (NYSE:AVYA) is showcasing its composable contact center solutions at Customer Contact Week 2022 in Las Vegas, focusing on delivering Total Experiences across customer and employee interactions. The Avaya OneCloud™ CCaaS platform integrates various communication channels, enhancing customer journeys. Sessions at CCW will discuss trends in AI and experience economy, featuring insights from executives. Gartner Peer Insights highlights Avaya's CCaaS as a highly capable solution. Key features include smarter self-service, intelligent routing, and a composable desktop to improve agent productivity and customer experience.

Avaya (NYSE: AVYA) is enhancing digital campus learning through its OneCloud platform, aiding institutions like Clemson University, Kingsborough Community College, and Nicholls State University. The platform integrates CCaaS, UCaaS, CPaaS, and Workstream Collaboration to improve communication and collaboration, crucial for attracting and retaining students amidst competition. A study highlighted that 97% of students value technology for their learning experience. Notably, Nicholls State realized $60,000 in annual savings by adopting Avaya's Cloud Office.

T-Metrics has joined Avaya's DevConnect program as a Technology Partner, enhancing customer engagement through the interoperability of its CX-2025 omnichannel contact center SaaS solution with Avaya's OneCloud™ platform. This membership allows Avaya to offer advanced features tailored for commercial and governmental clients, improving migration control and minimizing cloud lock-in. The collaboration aims to streamline operations and increase productivity, securing T-Metrics a trusted partner status with the Department of Defense.