AVALARA, INC.

2021 Q3 Form 10-Q Financial Statement

#000156459021054616 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q4 2020 Q3

Balance Sheet

Concept 2021 Q3 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.536B $673.6M $1.064B
YoY Change 44.39% 44.24% 138.27%
Cash & Equivalents $1.536B $673.6M $1.064B
Short-Term Investments
Other Short-Term Assets $1.611M $5.016M $2.440M
YoY Change -33.98% 117.99% 45.5%
Inventory
Prepaid Expenses $29.29M $13.97M $15.63M
Receivables $96.31M $75.86M $63.10M
Other Receivables $1.280M $500.0K $500.0K
Total Short-Term Assets $1.798B $832.9M $1.182B
YoY Change 52.11% 46.95% 120.87%
LONG-TERM ASSETS
Property, Plant & Equipment $42.65M $34.71M $33.55M
YoY Change 27.1% -0.81% -2.85%
Goodwill $603.8M $513.2M $101.7M
YoY Change 493.85% 407.03% 0.74%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $58.22M $82.60M $40.40M
YoY Change 44.11% 158.13% 36.49%
Total Long-Term Assets $839.8M $769.4M $244.1M
YoY Change 244.06% 219.98% 28.72%
TOTAL ASSETS
Total Short-Term Assets $1.798B $832.9M $1.182B
Total Long-Term Assets $839.8M $769.4M $244.1M
Total Assets $2.638B $1.602B $1.426B
YoY Change 84.96% 98.49% 96.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.74M $20.28M $16.60M
YoY Change 12.9% 73.44% 51.43%
Accrued Expenses $91.98M $84.53M $62.76M
YoY Change 46.56% 42.45% 25.86%
Deferred Revenue $208.0M
YoY Change 29.8%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $539.0M $378.9M $296.2M
YoY Change 81.98% 39.46% 27.7%
LONG-TERM LIABILITIES
Long-Term Debt $960.4M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $817.0K $380.0K $63.00M
YoY Change -98.7% -84.0% 2568.36%
Total Long-Term Liabilities $817.0K $380.0K $63.00M
YoY Change -98.7% -84.0% 2568.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $539.0M $378.9M $296.2M
Total Long-Term Liabilities $817.0K $380.0K $63.00M
Total Liabilities $1.603B $522.2M $359.7M
YoY Change 345.6% 52.0% 37.78%
SHAREHOLDERS EQUITY
Retained Earnings -$649.6M -$559.4M
YoY Change 9.64%
Common Stock $1.688B $1.641B
YoY Change 68.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.035B $1.080B $1.067B
YoY Change
Total Liabilities & Shareholders Equity $2.638B $1.602B $1.426B
YoY Change 84.96% 98.49% 96.76%

Cashflow Statement

Concept 2021 Q3 2020 Q4 2020 Q3

Facts In Submission

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us-gaap Nature Of Operations
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-style:italic;">Nature of Operations </span></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:4.54%;text-indent:-4.54%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-top:2pt;margin-bottom:0pt;text-indent:2.13%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Avalara, Inc. (the “Company”) provides software solutions that help businesses of all types and sizes comply with transaction tax requirements worldwide. The Company offers a broad and growing suite of compliance solutions for transaction and other product-related taxes such as sales and use tax, value-added tax (“VAT”), fuel excise tax, beverage alcohol, cross-border taxes (including tariffs and duties), lodging tax, communications tax, and <span style="Background-color:#FFFFFF;color:#000000;">insurance premium </span>tax. These solutions enable customers to automate the process of determining taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. The Company, a Washington corporation, was originally incorporated in 1999 and is headquartered in Seattle, Washington.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:2.27%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-top:2pt;margin-bottom:0pt;text-indent:2.13%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has wholly owned subsidiaries outside of the U.S. in Brazil, Canada, Europe, and India, which conduct sales and operations and provide business development, software development, and support services.</p>
us-gaap Prior Period Reclassification Adjustment Description
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<p style="margin-top:2pt;margin-bottom:0pt;margin-left:2.13%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-top:12pt;margin-bottom:0pt;margin-left:2.67%;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior period amounts have been reclassified to conform to current period presentation.</p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.43
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-32546000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-12729000
us-gaap Net Income Loss
NetIncomeLoss
-90184000
us-gaap Net Income Loss
NetIncomeLoss
-38152000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86530000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82288000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86023000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79715000
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86530000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82288000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86023000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79715000
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.15
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.05
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.48
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7807000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6501000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6517000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6949000

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