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Avid Technology (AVID) Launches Pro Tools to Elevate Audio
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Avid Technology recently introduced its new Pro Tools MTRX II and MTRX Thunderbolt 3 module, specifically designed for post-production users to enhance audio capabilities to get the best sound possible.
MTRX II empowers users by offering greater IO capacity, routing, and more immersive monitoring flexibility. It allows capturing all of the power of Pro Tools software-based workflows, providing even greater flexibility and expandability than MTRX.
The new Thunderbolt 3 module is a significant development that combines the power of MTRX II and MTRX Studio interfaces to native audio applications, which can be used simultaneously with Pro Tools HDX systems.
The new all-in-one audio interface encompasses features like studio streamlining with customizable Dante and IO card count, unparallel sound quality and audio monitoring with integrated SPQ speaker and 512 x 64 summing mixer, increased channel count, low latency, and workflow expansion.
Strong Product Portfolio to Drive AVID’s Subscription Revenues
AVID is riding on a strong product portfolio with Pro Tools, MediaCentral and Media Composer. These tools are providing creators with state-of-the-art media creation workflows. With the launch of its new Pro Tools solutions, it expects to increase subscriber base.
AVID is benefiting from frequent product launches. Early this month Avid launched Works with Avid On Demand program that incorporates third-party tools on the Avid Edit On Demand model to expand cloud workflows. It allows users to deploy a greater set of tools in the cloud to maximize earning potential, efficiency and deliver content faster than previously possible.
To further extend and enhance its proven media creation workflows, Avid has collaborated with the likes of Adobe (ADBE - Free Report) , Microsoft (MSFT - Free Report) and NVIDIA (NVDA - Free Report) .
Avid’s partnership with Adobe integrates the MediaCentral Cloud UX and Avid NEXIS panel into Adobe Premiere Pro, After Effects, and Photoshop, allowing production teams to efficiently adopt and share media in Avid workflows.
Its cloud alliance with Microsoft includes technology collaboration, co-development of cloud bases solutions and the launch of several software-as-a-service offerings. This partnership allows Avid to create new technologies, thereby attracting new users to many of its subscription-based product offerings.
Integration of Avid’s Media Composer and Edit On Demand solutions with NVIDIA’s GPU acceleration helped boost increasingly demanding production workflows.
These partnerships have helped Avid expand subscriber base thereby driving top-line growth. In the fourth quarter of 2022, Avid realized net additions of 46,200 total subscriptions and delivered year-over-year growth of 23.2%. Avid reported subscription revenue growth of 37.1% in the reported quarter.
What awaits AVID’s Shares in 2023?
Avid’s shares have risen 21.3% year-to-date, primarily due to the rapid adoption of enterprise subscriptions, innovative product releases, continued strategic capital deployment and recovery of the supply chain situation resulting in strong sequential growth.
Avid has outperformed the Zacks Computer and Technology sector, which has 18.4% over the same time frame.
Avid expects strong growth in subscription and maintenance revenues due to its consistent investments in music creation innovation as well as digital transformation. This will address the changing business and technology requirements and support long-term growth plans.
For the first quarter of 2023, Avid expects revenues between $97 million and $105 million.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $100.84 million, indicating 0.18% growth from the year-ago quarter’s reported figure.
The consensus mark for first-quarter 2023 earnings remained unchanged at 25 cents per share in the past 30 days.
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Avid Technology (AVID) Launches Pro Tools to Elevate Audio
Avid Technology recently introduced its new Pro Tools MTRX II and MTRX Thunderbolt 3 module, specifically designed for post-production users to enhance audio capabilities to get the best sound possible.
MTRX II empowers users by offering greater IO capacity, routing, and more immersive monitoring flexibility. It allows capturing all of the power of Pro Tools software-based workflows, providing even greater flexibility and expandability than MTRX.
The new Thunderbolt 3 module is a significant development that combines the power of MTRX II and MTRX Studio interfaces to native audio applications, which can be used simultaneously with Pro Tools HDX systems.
The new all-in-one audio interface encompasses features like studio streamlining with customizable Dante and IO card count, unparallel sound quality and audio monitoring with integrated SPQ speaker and 512 x 64 summing mixer, increased channel count, low latency, and workflow expansion.
Avid Technology, Inc. Price and Consensus
Avid Technology, Inc. price-consensus-chart | Avid Technology, Inc. Quote
Strong Product Portfolio to Drive AVID’s Subscription Revenues
AVID is riding on a strong product portfolio with Pro Tools, MediaCentral and Media Composer. These tools are providing creators with state-of-the-art media creation workflows. With the launch of its new Pro Tools solutions, it expects to increase subscriber base.
AVID is benefiting from frequent product launches. Early this month Avid launched Works with Avid On Demand program that incorporates third-party tools on the Avid Edit On Demand model to expand cloud workflows. It allows users to deploy a greater set of tools in the cloud to maximize earning potential, efficiency and deliver content faster than previously possible.
To further extend and enhance its proven media creation workflows, Avid has collaborated with the likes of Adobe (ADBE - Free Report) , Microsoft (MSFT - Free Report) and NVIDIA (NVDA - Free Report) .
Avid’s partnership with Adobe integrates the MediaCentral Cloud UX and Avid NEXIS panel into Adobe Premiere Pro, After Effects, and Photoshop, allowing production teams to efficiently adopt and share media in Avid workflows.
Its cloud alliance with Microsoft includes technology collaboration, co-development of cloud bases solutions and the launch of several software-as-a-service offerings. This partnership allows Avid to create new technologies, thereby attracting new users to many of its subscription-based product offerings.
Integration of Avid’s Media Composer and Edit On Demand solutions with NVIDIA’s GPU acceleration helped boost increasingly demanding production workflows.
These partnerships have helped Avid expand subscriber base thereby driving top-line growth. In the fourth quarter of 2022, Avid realized net additions of 46,200 total subscriptions and delivered year-over-year growth of 23.2%. Avid reported subscription revenue growth of 37.1% in the reported quarter.
What awaits AVID’s Shares in 2023?
Avid’s shares have risen 21.3% year-to-date, primarily due to the rapid adoption of enterprise subscriptions, innovative product releases, continued strategic capital deployment and recovery of the supply chain situation resulting in strong sequential growth.
Avid has outperformed the Zacks Computer and Technology sector, which has 18.4% over the same time frame.
Avid expects strong growth in subscription and maintenance revenues due to its consistent investments in music creation innovation as well as digital transformation. This will address the changing business and technology requirements and support long-term growth plans.
This Zacks Rank #3 (Hold) company expects first-quarter 2023 earnings in the range of 21-29 cents per share. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the first quarter of 2023, Avid expects revenues between $97 million and $105 million.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $100.84 million, indicating 0.18% growth from the year-ago quarter’s reported figure.
The consensus mark for first-quarter 2023 earnings remained unchanged at 25 cents per share in the past 30 days.