AvePoint, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 04:05 pm EST
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AvePoint, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 74.62 million compared to USD 63.61 million a year ago. Net income was USD 4.27 million compared to net loss of USD 12.72 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 0.07 a year ago.
For the full year, revenue was USD 271.83 million compared to USD 232.34 million a year ago. Net loss was USD 21.73 million compared to USD 41.63 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.23 a year ago.
AvePoint, Inc. provides a cloud-native software platform that organizations rely on to optimize information technology (IT) operations, manage critical data and secure the digital workplace. The Companyâs AvePoint Confidence Platform delivers a set of software-as-a-service (SaaS) solutions, empowering users in a variety of technology roles, including IT operations, development operations and cybersecurity to monitor and secure the digital workplace. Built on top of platform-as-a-service (PaaS) architecture, the AvePoint Confidence Platform offers modularity and combines cloud services architecture with industry-specific functionality to address operational challenges and the ongoing management of data, as organizations leverage a variety of third-party cloud vendors. The AvePoint Confidence Platform, and the applications that it powers, is organized into three interconnected suites of functionality, which include The Control Suite, The Resilience Suite and The Modernization Suite.