(MENAFN- Baystreet.ca) Apex Technology Acquisition Corporation (NASDAQ:APXT) shares rose Thursday.
AvePoint, the buyer, said it sees preliminary Q1 sales of $38.4 million to $38.8 million. The company also announced up to $20 million repurchase of Apex shares.
The company reported total ARR in the range of $128.0 million to $129.2 million as of March 31, 2021, up 32.6% year-over-year at the mid-point
Subscription Revenue in the range of $26.7 million to $27.0 million, up 49.3% year-over-year at the mid-point
GAAP operating loss was in the range of $(11.9) million to $(4.1) million, representing GAAP operating margins of (31.0)% and (10.6)%, respectively
Non-GAAP operating loss was in the range of $(1.9) million to $(1.5) million , representing non-GAAP operating margins of (4.9)% and (3.9)%, respectively
The company reported cash, cash equivalents and Short-Term Investments of approximately $65.8 million as of March 31, 2021, and to boot, the company remains debt-free
AvePoint enables customers to collaborate with confidence. "Our data management solutions,' according to today's news release, 'help our diverse, global customer base overcome complex transformation, governance, and compliance challenges in the Microsoft cloud."
Apex is a special purpose acquisition corporation led by co-CEOs Jeff Epstein, the former CFO of Oracle, and Brad Koenig, the former head of Goldman Sachs' global technology investment banking team.
APXT gained 38 cents, or 3.4%, to $11.53.
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