BURLINGTON, Mass.—Avid announced total revenues inched up 1.3% for Q3 2022, led by strong subscription growth but offset by continuing supply chain challenges that have prevented the company from shipping “a significant amount” of orders received for integrated solutions during the first nine months of 2022. 

Profit for Q3 totaled $12 million and net income was 27 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 38 cents per share, beating Wall St.’s expectations of 32 cents per share.

Subscription revenues increased 49.2% year over year to $41.8 million and subscription and maintenance revenue grew 17.6% year over year to $69.1 million. Total revenue increased 1.3% year-over-year to $103.0 million in Q3. Paid Cloud-enabled software subscriptions increased by an all-time record of 32,600 during the quarter to approximately 482,900 as of Sept. 30, 2022, an increase of 24.1% year-over-year.

“We are pleased by the strong growth from our subscription software business, particularly enterprise subscription and reacceleration of our creative tools, most notably Pro Tools,” said Avid CEO/President Jeff Rosica. “Demand for our integrated solutions products remains strong, and while we continue to see some lingering constraints in the supply chain, we were able to resume production of certain audio hardware products late in the third quarter and we believe the remaining constraints are temporary. For the fourth quarter and full year, we believe we are well positioned to deliver earnings growth despite revenue headwinds from the impacts of foreign exchange and slower-than expected recovery from the current global supply chain situation.”

LAS VEGAS — Audinate Group Limited will showcase six new Dante AVIO adapters at InfoComm 2018, June 6–8 at the Las Vegas Convention Center. The new adapters are designed to serve as cost-effective endpoints that connect legacy analog and digital audio equipment to Dante audio over IP networks.

Dante networks can transmit synchronized audio signals long distances over Ethernet cable to multiple locations simultaneously. Available as dedicated inputs or outputs with one or two channels of audio, Dante AVIO analog input adapters allow mixers, mic preamps, stage DIs and more to connect to a Dante audio network, while analog output adapters can drive amplifiers, powered speakers or recorders. This eliminates long, potentially noisy analog cable, and signal routes can be remotely managed using Dante Controller software.

The product line also includes the Dante AVIO USB adapter, which connects any computer to a Dante audio network without additional software, providing class-compliant stereo input and output that can be used by any audio application. Suitable for presentations and conference rooms, the Dante AVIO USB adapter may be passed between computers without altering networked audio connections.

Lastly, the Dante AVIO AES3 adapter provides stereo inputs/outputs, connecting any AES device to any Dante network with no degradation of signal due to extraneous D/A and A/D conversion. The company says this preserves the customers’ investment in AES3-connected devices, such as DSPs, mixers, compressors, and preamps.

At the InfoComm show, Audinate will have daily drawings to give attendees a chance to win a free Dante AVIO adapter. The product is now available from several online retailers, including Full Compass, Dale Pro Audio and Thomann, as well as regional distributors worldwide.

Audinate will be in Booth #456 in the Central Hall.

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