Despite the COVID-19 pandemic, Avalara cuts its loss to $10.1 million, 28.8 percent better than the $14.2 million in red ink a year ago while revenue for the recently ended quarter was $116.5 million, an increase of 27.6 percent from $91.3 million in last year's corresponding period. “ROI is the best and most meaningful message we have,” McFarlane said. In good times, the messaging tends to be event driven—"You are upgrading your ERP why don’t you think about sales tax.” He continued that, “It’s easier to talk about efficiency and outsourcing in the times we are in right now.” He said the trick will be to maintain both approaches when the economy returns to a more normal footing. CFO Ross Tennenbaum said the quarter benefited from pent-up demand, but that Avalara will be cautious and not forecast the year based on that experience. McFarlane listed a number of trends including the adoption of ecommerce and move to the cloud, spurred by the pandemic. He also touted the growth of revenue Avalara has received this year through the Streamlined Sales Tax program. SST revenue for the first half of 2020 is more than 100 percent higher than in the first half of 2019.
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AVALARA MOVES TO ROI STORY Featured
Avalara has adopted a message stressing the return on investment its indirect tax systems can provide, according to CEO Scott McFarlane. He made the comments during this week’s webcast for the company’s second quarter ended June 30.
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