Avepoint Inc Cl A (AVPT) said after close Thursday that it lost $0.02 per share in quarter three 2023.
On the revenue line, the company reported $72.8 million, beating estimates by $3.8 million.
In the same quarter a year ago, the company lost $0.04 per share on revenue of $62.7 million.
The stock is up 9.11% to $8.09 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Avepoint Inc Cl A a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 66. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
AvePoint Inc is a Microsoft 365 data management solutions provider, offering a full suite of SaaS solutions to migrate, manage and protect data. Its products include Cloud Products, Hybrid Products; and solutions include Data Protection, Operational Governance, Records & Information Management, Microsoft Teams, SharePoint Online, Exchange Online, OneDrive for Business, Project Online, Planner, Yammer, and Public Folders.