AVYA - Avaya Holdings falls 20% on guidance cut misses company Q1 guidance

Avaya Holdings (NYSE:AVYA) -20% reported Q1 Non-GAAP EPS misses by 27 cents. Revenue of $713M down 4% Y/Y misses by analyst estimate by $23M. The company expected Q1 guidance of $735M. OneCloud ARR (Annualized Recurring Revenue) was $620 million, up 17% Q/Q and 137% Y/Y primarily driven by our enterprise segment and contact center solutions. CAPS (Cloud, Alliance Partner and Subscription) was 44% of revenue, up 34% a year ago. Software and Services were 86%; Software was 62% of total revenue. Recurring revenue was 66% of revenue, up from 65% a year ago. Signed 100+ deals with TCV greater than $1 million, for the 7th consecutive quarter. Added over 1,400 new logos. Significant large deal activity with 108 deals over $1 million TCV, 9 over $5 million TCV, 6 over $10 million TCV and 2 over $25 million TCV. Ending cash and cash equivalents were $354 million. 2Q22 Outlook: Revenue of

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Avaya Holdings falls 20% on guidance cut, misses company Q1 guidance