AVLR - Avalara tops estimate on strong subscription revenue shift to automation boosts 2021 outlook

Avalara ([[AVLR]] -0.5%) reports strong beat in its Q4 earnings report after both subscription and professional services revenue posted double-digit growth during the quarter.Revenue of $144.76M (+34.5% Y/Y) beats consensus by $11.39M.By segment: Subscription and returns revenue, $132.6M (+33% Y/Y); Professional services, $12.2M (+59% Y/Y). Total revenue from 4Q20 acquisitions was $6.5M.Calculated billings were $167.1M (+38% Y/Y).Adj. gross profit was $107.7M, representing a 74% margin, compared to $76.8M and a 71% margin a year ago.Adj. operating loss was $0.6M, compared to $5.1M loss in 4Q19.Net cash provided by operating activities was $31.6M in Q4, and free cash flow was positive $28.6M. With this, the company ended the quarter with $673.6M in cash and equivalents.Non-GAAP EPS of $0.09 beats by $0.15; GAAP EPS of -$0.13 beats by $0.04."As we look ahead to 2021, the generational shifts to omnichannel commerce and cloud-based solutions, a growing emphasis on efficiency through automation, and an increasingly complex regulatory

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Avalara tops estimate on strong subscription revenue, shift to automation boosts 2021 outlook