Benzinga | Nov 15, 2021 11:03AM EST

AvePoint Clocks 36% Revenue Growth In Q3

* AvePoint Inc (NASDAQ: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.