Avaya Market Momentum Continues, Looks Ahead to Annual Customer Conference

Avaya, a global leader in customer experience and communications solutions, outlined continued business momentum, innovation, and industry leadership in the recent quarter as the company and its extended partner ecosystem work closely with customers to help their organizations accelerate and grow. Avaya made the announcement as it prepares for a Global Industry Analyst Summit this week in La Jolla, CA, and then its largest global customer conference — Avaya ENGAGE 2024 — scheduled for May 13-15 in Denver, CO.

Over the last quarter, Avaya accelerated its momentum as the company showcased how enterprises can leverage AI-powered innovation on top of existing systems to deliver customer experiences that drive better business performance. The momentum resulted from various strategic decisions, including the announcement of a simplified portfolio and solutions architecture, new strategic partnerships, industry and analyst event presence, new executive appointments, and more.

“Avaya’s upward momentum reflects our core differentiator as we deliver on the promise of ‘innovation without disruption’ — a strategy that helps enterprise customers avoid the serious business repercussions that can come from ‘rip and replace’ upgrades of entire systems,” said Alan Masarek, CEO, Avaya. “Avaya’s innovation without disruption strategy is adding tangible value for enterprises, giving these organizations the unmatched ability to add AI and other innovations on top of existing investments, keeping their business moving with speed and quality with Avaya’s solutions, services, and world-class ecosystem. We are excited about the possibilities we are exploring with customers, as we continue to break ground on new opportunities to empower our customers with improved customer and employee experiences that drive better business growth and outcomes.”

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Avaya Business Performance Continues to Build on Strong Momentum

Avaya’s market momentum includes continued strong business performance that builds on the company’s successful financial transformation in 2023. With the financial restructuring behind it, the company is levered free cash flow positive, excluding one-time items, and retains a strong balance sheet with <1x net leverage¹.

This solid financial position has provided more than sufficient liquidity to execute the strategic plan and continued reinvestment in the business as the company exited the calendar year with ~$650M of cash, and access to a further $128M in a revolving facility. Avaya successfully delivered on its revenue plan for the past five quarters (across FY23 and Q1 FY24) and is on track to exceed planned revenue for the first half of FY24. Avaya said its core value proposition — ‘innovation without disruption’ — continues to resonate exceedingly well with customers, with net logo retention among large enterprise customers at 97% and renewal rates on base subscription contracts ahead of plan.

The company’s momentum was recently showcased through several announcements at a leading industry trade show, Enterprise Connect, where Avaya announced a strategic partnership for AI-powered collaboration with Zoom and streamlined its solutions portfolio into a single product suite for Unified Communications and Collaboration, and a single platform offering for Customer Experience.

Enterprise Connect was preceded by a similar event — ITEXPO — where CEO Alan Masarek delivered a keynote address highlighting key CX trends. In addition, a steady stream of customer and partner announcements, along with positive industry analyst recognition, executive additions, and continued financial performance have underpinned the company’s continued acceleration.

SOURCE: Businesswire