Business
AvePoint Announces Third Quarter 2022 Financial Results
Third quarter SaaS revenue of $30.0 million, representing 34% year-over-year growth, 45% adjusted for constant currencyThird quarter total revenue of $62.7
About this update from Avepoint, Inc.
[{"type":"text","content":"Third quarter SaaS revenue of $30.0 million, representing 34% year-over-year growth, 45% adjusted for constant currencyThird quarter total revenue of $62.7 million, representing 16% year-over-year growth, 26% adjusted for constant currencyTotal ARR of $191.7 million, representing 30% year-over-year growth, 34% adjusted for FX impact JERSEY CITY, N.J., Nov. 10, 2022 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the most advanced SaaS and data management platform provider, today announced financial results for the third quarter ended September 30, 2022. “Q3 was another strong quarter for AvePoint despite the uncertain macroeconomic environment, highlighted by 34% ARR growth and 26% revenue growth, both adjusted for the impact of FX,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder of AvePoint. “Our strong topline performance reflects the ongoing need of companies around the world to secure collaboration data, sustain connections between people and ensure business continuity. At the same time, we continue to thoughtfully invest in a number of strategic growth initiatives while emphasizing robust expense controls across the company. We are excited for a strong close to 2022 and remain well positioned to capture the enormous market opportunity ahead of us.” Third Quarter 2022 Financial Highlights Revenue: Total revenue for the third quarter of 2022 was $62.7 million, up 16% from the third quarter of 2021 and up 26% year over year on a constant currency basis. Within total revenue, SaaS revenue was $30.0 million, up 34% from the third quarter of 2021 and up 45% year over year on a constant currency basis.Gross Profit: Gross profit for the third quarter of 2022 was $45.9 million, compared to $38.7 million for the third quarter of 2021. Gross margin for the third quarter of 2022 was 73.2%, compared to 71.8% for the third quarter of 2021. Non-GAAP gross profit for the third quarter of 2022 was $46.6 million, compared to $41.1 million for the third quarter of 2021. Non-GAAP gross margin was 74.2% for the third quarter of 2022, compared to 76.3% for the third quarter of 2021.Operating Income/(Loss): GAAP operating loss for the third quarter of 2022 was $(7.4) million, compared to $(28.7) million for the third quarter of 2021. Non-GAAP operating income for the third quarter of 2022 was $2.2 million, compared to $4.0 million for the third quar...