AVID offers A/V content creation tools to ad-supported media companies.
AVID turned profitable during the lock-down due mostly to a timely shift to SAAS model.
Q2/20 70% of Rev was recurring in part because production companies have switched to remote workers
Coincidentally (????) DIS & MSFT became clients in Q3/19. So, AVID is now serving some of the most sought after filthy subhumans ( should I say clients) in the Woke Capital Universe.
Margins reached 65.4% in Q2/20.
Now it remains to be seen whether Pandemic effects on the Ad market and live events put a cap on AVID growth.
Reasons for optimism going forward:
1) New product introductions 2) Cost reduction plan implemented during the pandemic Q will peak H2/20 and become 'permanent' in 2021
This could be an earnings play going forward especially if they sign up more woke capital dingleberries hanging from soyboy tampons.