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Full year SaaS revenue of $ 85.6 million , up 64 % year - over - year Total ARR of $ 159.2 million , up 34 % year - over - year Cloud user base exceeds 9 million JERSEY CITY , N.J. , March 17 , 2022 ( GLOBE NEWSWIRE ) -- AvePoint ( NASDAQ : AVPT ) , the most advanced SaaS and data management solutions provider , today announced financial results for the fourth quarter and full year ended December 31 , 2021 . " AvePoint's fourth quarter performance was a solid finish to our first year as a public company , which was highlighted by 64 % SaaS revenue growth and 34 % ARR growth , with an additional 36 % growth in customers with ARR above 100k , ” said Dr. Tianyi Jiang ( TJ ) , CEO and Co - Founder , AvePoint . " As enterprises continue their long - term shift to SaaS based platforms , and we see increased application usage in 2022 and beyond , we believe we are well positioned to capitalize on this massive opportunity , which will require the industry leading data management and collaboration security solutions that AvePoint offers . I'm incredibly thankful to our team for their continued focus on expanding our unique product offerings , enhancing our channel business , and delivering exceptional service to our existing multi - cloud customers . " Fourth Quarter 2021 Financial Highlights • Revenue Total revenue for the fourth quarter of 2021 was $ 53.8 million , up 17 % from the fourth quarter of 2020. Within total revenue , SaaS revenue was $ 24.3 million , up 52 % from the fourth quarter of 2020 , and term license and support revenue was $ 13.7 million , a decline of 13 % due to an adjustment in the timing of revenue recognition on term license contracts , which resulted in the deferral of an additional $ 4.4 million of revenue into future periods . Excluding the effects of this adjustment , total revenue growth would have been 26 % and term license and support growth would have been 15 % . • Gross Profit : Gross profit for the fourth quarter of 2021 was $ 38.9 million , compared to $ 35.5 million for the fourth quarter of 2020. Gross margin for the fourth quarter of 2021 was 72.2 % , compared to 77.0 % for the fourth quarter of 2020. Non - GAAP gross profit for the fourth quarter of 2021 was $ 39.6 million , compared to $ 35.8 million for the fourth quarter of 2020. Non - GAAP gross margin was 73.5 % for the fourth quarter of 2021 , compared to 77.6 % for the fourth quarter of 2020 . • Operating Income / ( Loss ) : Operating loss for the fourth quarter of 2021 was $ ( 7.7 ) million , compared to $ ( 10.8 ) million for the fourth quarter of 2020. Non - GAAP operating income for the fourth quarter of 2021 was $ 1.4 million , compared to $ 6.7 million for the fourth quarter of 2020 . Full Year 2021 Financial Highlights • Revenue Total revenue for the full year 2021 was $ 191.9 million , up 27 % from 2020. Within total revenue , SaaS revenue was $ 85.6 million , up 64 % from 2020 , and term license and support revenue was $ 51.0 million , up 31 % from 2020. Adjusting for the change in the timing of revenue recognition of $ 4.4 million , total revenue would have been up 30 % and term license and support revenue would have increased 42 % from 2020 . • Gross Profit : Gross profit for the full year of 2021 was $ 139.2 million , compared to $ 111.2 million for 2020. Gross margin for the full year 2021 was 72.6 % , compared to 73.4 % for 2020. Non - GAAP gross profit for the full year 2021 was $ 142.7 million , compared to $ 111.8 million for 2020. Non - GAAP gross margin was 74.4 % for the full year 2021 , compared to 73.8 % for 2020 . Operating Income / ( Loss ) : Operating loss for the full year 2021 was $ ( 53.5 ) million , compared to $ ( 15.4 ) million for 2020. Non - GAAP operating income for the full year 2021 was $ 6.0 million , compared to $ 18.3 million for 2020 . • Free cash flow of $ 3.1 million for the full year 2021 and $ 271 million of cash and short - term investments as of the end of the year . Fourth Quarter Key Highlights • Grew total ARR 34 % year - over - year to $ 159.2 million .