AVID - Avid Technology

[concerto]

Just started looking into this business and it doesn't look like there's an existing thread here.

 

Avid provides differentiated hardware and software solutions to high-end video and audio production professionals. They're currently trading at ~8x NTM EBITDA off of a broken narrative of y/y sales declines (which are mostly the result of accounting treatment) and bad prior management. They're currently working on transitioning their revenues toward stable recurring subscriptions (which will hopefully rerate the stock upwards over time) and enjoy a good market position within its niche.

 

The VIC write-up here does a good job of digging into the business: https://valueinvestorsclub.com/idea/AVID_TECHNOLOGY_INC/6539645691

The company provides a good overview of the business in its November 2019 Analyst Day presentation: https://ir.avid.com/static-files/12da157b-0ece-485d-a361-80374f703786

 

I was wondering if anybody had any thoughts on the business / have looked into investing here? Bonus points if you have used Avid software and have perspectives on the product.