• The company actually managed to turn profitable despite a pandemic induced headwind that cut 50% of their product sales.
• The good results were produced by an ongoing shift to SaaS and aggressive reduction in COGS and OpEx.
• Much of that is going to last when product sales gradually return.
• We think the shares are well below where they should be considering the progress the company is making.

Source: Avid Turnaround Has Considerably Further To Run (NASDAQ:AVID) | Seeking Alpha