Stock soared b/c of FALSE ARR -- Annualized Reoccurring Revenue that was Calculated via unverified # of Revenue Seats
Avaya leaders discovered a perfect con scheme where they would perpetuate the false declaration of 90-100m "seats". This implied that ALL seats were revenue generating. No marketing leader or executive bothered to validate the numbers. They were 'told' by previous leaders (who were also falsifying # of seats) and combined the Nortel/Avaya/Lucent "claims" of installed base and then it became a hot potato of "as long as I'm not the one holding the potato when the music stops I won't be held accountable for the fact that I keep claiming these seats as revenue generating, when in fact no one has ANY evidence that our #s are anywhere close".
When you declare Subscription Economy ARR as your new Accounting, you can get away with Implied revenue" vs REAL Revenue
So the victory laps made in 2021 about BS "Year-over-Year" Growth are simply based on Applying a value to every seat that was possibly tied to the subscription bait and switch and declaring that as monthly reoccurring revenue. It was all MAKE BELIEVE.
Mr. CMO is STILL making those empty claims and it's hysterical if it weren't pathetic
December 2022 --
"Offering innovation without disruption starts with Avaya’s customer base currently on the Avaya Aura and Contact Center Elite platforms, which make up the bulk of Avaya’s 100 million-seat install base, Forcum said"
Business ethics is that one should always verify before making claims. If you make a claim, be ready to be questioned and held accountable. One can't simply say 'because someone told me'. We all now know that no one verified anything they claimed. They are all accountable for the BIG LIE of 100m seats