Avalara (AVLR) Quarterly Income Statement

Income Statement Summary

Avalara (AVLR) quarterly income statement covering the six quarters from December 2020 to March 2022, as reported to the SEC.

Avalara reported revenues of $204.53M in the quarter ended March 31, 2022, up 33.2% from $153.6M a year earlier.
That is 4.8% higher than the December 2021 quarter.
Gross profit was $144.4M, up 32.4% from $109.11M. That is a gross margin of 70.6%.
Operating loss was $35.09M, a bigger loss than the $25.46M a year earlier. Operating margin was -17.2%.
Net loss was $32.56M, a bigger loss than the $30.07M a year earlier. Net margin was -15.9%.
Cost of revenues took 29.4% of revenues, research and development 24.9% and general and administrative 20.6%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Mar'22	Dec'21	Sep'21	Jun'21	Mar'21	Dec'20
Revenue:
Revenues
204,530	195,142	181,167	169,067	153,601	144,760	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						204,530	195,142	181,167	169,067	153,601	144,760	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenue:
Cost of revenues
60,126	58,621	53,040	48,675	44,496	40,579	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues						60,126	58,621	53,040	48,675	44,496	40,579	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
144,404	136,521	128,127	120,392	109,105	104,181	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						144,404	136,521	128,127	120,392	109,105	104,181	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Research and development
50,852	45,432	42,574	40,111	39,274	34,457	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development						50,852	45,432	42,574	40,111	39,274	34,457	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing
86,447	84,149	75,867	71,897	64,093	59,759	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing						86,447	84,149	75,867	71,897	64,093	59,759	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
42,194	34,971	35,887	35,244	31,199	29,647	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						42,194	34,971	35,887	35,244	31,199	29,647	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring charges
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring charges						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill impairment
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill impairment						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
179,493	164,552	154,328	147,252	134,566	123,863	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						179,493	164,552	154,328	147,252	134,566	123,863	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating loss
-35,089	-28,031	-26,201	-26,860	-25,461	-19,682	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating loss						-35,089	-28,031	-26,201	-26,860	-25,461	-19,682	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense):
Fair value changes in earnout liabilities
-4,001	-	-	-	1,350	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Fair value changes in earnout liabilities						-4,001	-	-	-	1,350	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income
186	33	28	23	24	32	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						186	33	28	23	24	32	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
1,496	-	815	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						1,496	-	815	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net
126	7,115	-6,168	-961	-924	-2,962	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net						126	7,115	-6,168	-961	-924	-2,962	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (expense), net
2,817	-5,229	-6,955	-938	-2,250	-605	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (expense), net						2,817	-5,229	-6,955	-938	-2,250	-605	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss before income taxes
-32,272	-33,260	-33,156	-27,798	-27,711	-20,287	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss before income taxes						-32,272	-33,260	-33,156	-27,798	-27,711	-20,287	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for income taxes
285	1,709	-610	-148	2,357	-9,256	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for income taxes						285	1,709	-610	-148	2,357	-9,256	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss
-32,557	-34,969	-32,546	-27,650	-30,068	-11,031	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss						-32,557	-34,969	-32,546	-27,650	-30,068	-11,031	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per share attributable to common shareholders, basic and diluted
-0.37	-0.40	-0.38	-0.32	-0.35	-0.13	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per share attributable to common shareholders, basic and diluted						-0.37	-0.40	-0.38	-0.32	-0.35	-0.13	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average shares of common stock outstanding, basic and diluted
87,463	86,996	86,530	86,090	85,436	84,824	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average shares of common stock outstanding, basic and diluted						87,463	86,996	86,530	86,090	85,436	84,824	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Subscription and Returns
Revenues
186,866	177,094	164,237	152,442	139,318	132,567	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						186,866	177,094	164,237	152,442	139,318	132,567	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues
50,077	49,574	44,824	40,983	38,033	34,882	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues						50,077	49,574	44,824	40,983	38,033	34,882	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Professional Services
Revenues
17,664	18,048	16,930	16,625	14,283	12,193	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						17,664	18,048	16,930	16,625	14,283	12,193	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues
10,049	9,047	8,216	7,692	6,463	5,697	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues						10,049	9,047	8,216	7,692	6,463	5,697	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx