Business
AvePoint Announces Fourth Quarter and Full Year 2022 Financial Results
Full year SaaS revenue of $117.2 million, representing 37% year-over-year growth, 46% adjusted for constant currencyFull year total revenue of $232.3 million,
About this update from Avepoint, Inc.
[{"type":"text","content":"Full year SaaS revenue of $117.2 million, representing 37% year-over-year growth, 46% adjusted for constant currencyFull year total revenue of $232.3 million, representing 21% year-over-year growth, 29% adjusted for constant currencyTotal ARR of $201.7 million, representing 27% year-over-year growth, 32% adjusted for FX impact JERSEY CITY, N.J., March 09, 2023 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the most advanced platform to optimize SaaS operations and secure collaboration, today announced financial results for the fourth quarter and full year ended December 31, 2022. “Our fourth quarter results were a strong close to 2022, highlighted by 32% ARR growth and 26% revenue growth, both adjusted for the impact of FX,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder of AvePoint. “Despite an uncertain macro environment, our strong topline performance underscores the ongoing need for organizations around the world to optimize and secure the digital workplace.” “At the same time, we continue to aggressively manage expenses across the business, and we plan to show significant profitability improvements in 2023. We are excited for the many opportunities ahead of us to help companies rapidly reduce costs, improve productivity, and make more informed business decisions, and we look forward to discussing these and other strategic priorities at our first Investor Day on March 22nd.” Fourth Quarter 2022 Financial Highlights Revenue: Total revenue was $63.6 million, up 18% from the fourth quarter of 2021 and up 26% year-over-year on a constant currency basis. Within total revenue, SaaS revenue was $33.0 million, up 36% from the fourth quarter of 2021 and up 46% year-over-year on a constant currency basis.Gross Profit: GAAP gross profit was $45.4 million, compared to $38.9 million for the fourth quarter of 2021. Non-GAAP gross profit was $46.1 million, compared to $39.6 million for the fourth quarter of 2021. Non-GAAP gross margin was 72.4%, compared to 73.5% for the fourth quarter of 2021.Operating Income/(Loss): GAAP operating loss was $(8.0) million, compared to $(7.7) million for the fourth quarter of 2021. Non-GAAP operating income was $1.4 million, compared to $1.4 million for the fourth quarter of 2021. Excluding the one-time expenses associated with the reduction in workforce the Company announced in December of 2022, non-GAAP op...