AvePoint Clocks 36% Revenue Growth In Q3

AvePoint Inc AVPT reported third-quarter FY21 revenue growth of 36% year-on-year to $53.9 million, beating the consensus of $52.6 million.
Total ARR of $147.5 million as of September 30 was up 32% Y/Y. SaaS Revenue of $22.4 million was up 59% Y/Y.
Margins: The non-GAAP gross margin expanded 150 bps to 76.3%. The non-GAAP operating margin contracted 1,110 bps to 7.4%.
EPS loss of $(0.05) missed the consensus of $0.01.
AvePoint held $262.3 million in cash and equivalents.
"AvePoint delivered its eleventh consecutive record quarter with total revenue of $54 million and 79% year over year growth in subscription revenue for our SaaS and data management platform," CEO Dr. Tianyi Jiang said.
Outlook: AvePoint sees Q4 revenues of $56.4 million - $58.4 million against the consensus of $57.2 million.
AvePoint sees FY21 revenues of $194.4 million - $196.4 million (prior view $192.0 million - $196.0 million), above the consensus of $193.9 million.
Price Action: AVPT shares traded lower by 0.11% at $9.20 in the premarket session on the last check Monday.

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