AVPT - AvePoint reverses losses hits 1-month high after earnings report
AvePoint (AVPT +10.5%) stock reversed Thursday's postmarket losses and rose to its highest in a month after the software firm reported Q4 results. Q4 revenue grew 16.7% Y/Y to $53.84M. Of this, SaaS revenue was $24.3M, up 52%. Term license and support revenue was $13.7M, down 13%, due to a change in revenue recognition timing on term license contracts, leading to deferral of an additional $4.4M of revenue. Excluding the effects of this adjustment, Q4 revenue growth would have been 26% and term license and support growth would have been 15%. In a post-earnings call, CFO Jim Caci said for term license contracts, AVPT adjusted the percentage of revenue recognized upfront attributable to the license and shift more of the contract value to post-contract customer support, which is recognized over the term of the contract. "Although this change impacts timing of revenue recognition, it has no impact on ARR. We expect
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AvePoint reverses losses, hits 1-month high after earnings report