$AVPT reports strong financial results for Q4 and FY2022
Mar 9th 2023, 9:06 pm
Analyst Summary: AvePoint has reported strong financial results for the fourth quarter and full year of 2022, with revenues of $232.9 million and $253.0 million respectively, showing YoY growth of 45% and 58% on a constant currency basis. Non-GAAP gross margin was 72% and 73% respectively. The CEO, Dr. Tianyi Jiang, acknowledged the importance of organizations securing the digital workplace and mentioned plans for profitability improvements in 2023, while continuing to pursue opportunities for reducing costs and improving productivity. The company has also won a bid for a substantial FinTech innovation project in Singapore. The management team will discuss its strategic priorities at its first Investor Day on March 22nd. Although the COVID-19 pandemic has introduced macro uncertainty, AvePoint's financial performance has remained robust. Investors should keep an eye on the company's ability to deliver future profitability improvements and growth opportunities.