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Avid Technology Announces Q4 and FY 2020 Results

Avid Technology Announces Q4 and FY 2020 Results
March 09, 2021 16:05 ET
| Source:
Avid Technology, Inc.
Avid Technology, Inc.
Burlington, Massachusetts, UNITED STATES
15.3% Sequential Revenue Growth in the Fourth Quarter as End Markets Continue to Recover from COVID-19 Downturn
54.9% Year-Over-Year Subscription Revenue Growth in the Fourth Quarter Driven by Net Increase of Approximately 27,000 Paid Subscriptions and Strong Enterprise Subscription Sales in the Quarter
$30.7 million in Net Cash Provided by Operating Activities in the Fourth Quarter Leading to Free Cash Flow of $30.6 million in the Quarter
BURLINGTON, Mass., March 09, 2021 (GLOBE NEWSWIRE) Avid
® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the fourth quarter and full year ended December 31, 2020. ....

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MDC Partners Inc. Reports Results For The Three And Twelve Months Ended December 31, 2020

Guides 7-9% Revenue Growth in 2021
FOURTH QUARTER & 2020 HIGHLIGHTS:
Revenue of $328.2 million in the fourth quarter versus $382.0 million in the prior year period, a decline of 14.1%; and $1.20 billion in 2020 versus $1.42 billion in the prior year, a decline of 15.3%.
Sequential revenue growth of 15.8% from the third quarter of 2020.
Organic revenue declined 13.7% in the fourth quarter and 13.9% in 2020.
Net loss attributable to MDC Partners Inc. common shareholders was $243.2 million (inclusive of principally non-cash impairment and other charges of $96.4 million and a $130 million non-cash income tax valuation allowance) in 2020 versus a net loss of $17.6 million in the prior year.
Adjusted EBITDA of $177.3 million in 2020 versus $174.2 million in the prior year, an increase of 1.8%. Adjusted EBITDA Margin of 14.8% in 2020, increasing 250 basis points from 12.3% in the prior year. ....

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