AvePoint Inc. (AVPT) saw its stock price plunge 15.52% in the after-hours trading session on Thursday, following the release of its disappointing fourth-quarter earnings results.
According to a brief earnings release, AvePoint reported a net loss of $17.178 million for the fourth quarter, missing analysts' expectations of a $10.3 million profit. The company's operating expenses ballooned to $62.409 million, resulting in an operating income of just $4.853 million, despite a relatively strong adjusted gross profit of $67.3 million and an adjusted gross margin of 75.5%.
While AvePoint's Q4 annual recurring revenue (ARR) reached $327 million, the company likely failed to provide a satisfactory outlook for the upcoming quarters, causing concerns among investors and leading to the sharp sell-off in the after-hours trading session.
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