AvePoint Stock Down After Q4 Revenue Miss, Guides Q1 And FY22 Revenue Below Consensus

AvePoint Inc AVPT reported fourth-quarter FY21 revenue growth of 16.7% year-on-year to $53.84 million, missing the consensus of $57.52 million.
Total ARR of $159.2 million, an increase of 34% Y/Y. SaaS revenue was $24.3 million, up 52% Y/Y.
The non-GAAP gross margin contracted 411 bps to 73.5%.
Loss from operations for the quarter was $7.62 million, compared to $10.79 million a year ago.
AVPT expanded its cloud user base to 9.4 million, up 34% from 7.0 million as of December 31, 2020.
EPS loss improved to $(0.04) from $(0.26) in 4Q20.
AvePoint generated cash from operating activities of $5.55 million in FY21, compared to $19.12 million in FY20.
Free cash flow was $3.1 million for FY21 and $271 million of cash and short-term investments at the end of the year.
Buyback: The Board authorized a new share repurchase program for AVPT to buy back up to a maximum of $150 million worth of shares over the next three years.
1Q22 Outlook: AvePoint expects total revenue to be in the range of $48 million to $49 million, versus a consensus of $50.53 million and Non-GAAP operating loss of $(6.0) to $(6.5) million.
FY22 Outlook: The company expects total revenue to be in the range of $236 million to $242 million versus a consensus of $254.67 million, and Non-GAAP operating income/loss to be in the range of a loss of $(3.5) million to income of $1 million.
It expects ARR to be between $212 million to $216 million or ~34% Y/Y growth.
Price Action: AVPT shares traded lower by 3.95% at $5.10 during the post-market session on Thursday.

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