November 14, 2022 I Finance
Avid Releases Third Quarter Earnings
Avid has announced its financial results for the third quarter of 2022, which ended on Sept. Avid’s total revenue was $103 million, an increase of 1.3% year-over-year. The recurring components of Avid’s revenue also remained strong during the third quarter, with subscription revenue increasing 49.2% year-over-year in the third quarter to $41.8 million and subscription and maintenance revenue growing 17.6% year-over-year to $69.1 million.
“We are pleased by the strong growth from our subscription software business, particularly enterprise subscription and re-acceleration of our creative tools, most notably Pro Tools,” said