AvePoint Second Quarter Revenue Jumps 16%; Raises Full Year Guidance
By Daniella Parra
AvePoint (NASDAQ: AVPT) said second quarter revenue rose 16 percent to $64.9 million as the company raised its full year guidance.
AvePoint now expects 2023 total annual recurring revenue of $258 million to $263 million, or 21% year-over-year growth at the midpoint, it said in a statement.
The company said GAAP operating loss was $7.1 million, compared to a loss of $11.7 million for the second quarter of 2022. Non-GAAP operating income was $2.9 million, compared to a non-GAAP operating loss of $1.2 million for the second quarter of 2022, it said.
“Amidst the ongoing uncertainty in the macro environment, our customers continue to depend on AvePoint’s Confidence Platform to rapidly reduce costs, improve productivity and make more informed business decisions,” said CEO Tianyi Jiang. “As a result, we are pleased to once again raise our full-year guidance for total ARR, total revenues and operating income.”
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