Benzinga | May 20, 2021 07:14AM EDT

Apex Technology Acquisition Corp SPAC Merger Partner AvePoint Reports Q1 Sales $38.8M, Up 19% YoY; Sees FY21 Sales $193M-$194M

First Quarter 2021 Financial Results

* Total Revenue of $38.8 million, up 19% year-over-year

* Total ARR1of $129.2 million as of March 31, 2021, up 33% year-over-year

* SaaS Revenue of $18.3 million, up 78% year-over-year

* GAAP Operating Loss of $5.9 million; GAAP Operating Margin of (15.3)%

* Non-GAAP Operating Loss of $2.6 million; Non-GAAP Operating Margin2 of (6.8)%

* Cash and Cash Equivalents of approximately $64.6 million as of March 31, 2021; Company remains debt-free