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AvePoint has announced that its AvePoint Online Services cloud platform has achieved FedRAMP Authorization, enabling its use across all federal agencies at the moderate impact level. This achievement allows government agencies to modernize and automate records management for compliance with Microsoft 365 and SharePoint. With over 400 public sector organizations utilizing their solutions, AvePoint aims to address the increasing data management challenges faced by agencies. The Department of Energy led this initiative, enhancing its compliance capabilities.
Apex Technology Acquisition Corporation (NASDAQ: APXT) and AvePoint announced AvePoint's financial results for 2020, highlighting a strong fourth quarter. Key metrics include total revenue of $151.5 million (up 31% YoY), recurring revenue of $114.5 million (up 37% YoY), and subscription revenue of $91.0 million (up 66% YoY). Despite a GAAP operating loss of $15.4 million, non-GAAP operating income stood at $18.3 million, with record cash flow of $19.1 million. AvePoint's focus on collaboration solutions positions it for growth in 2021.
AvePoint, the leading Microsoft 365 data management solutions provider, launched AvePoint EduTech, a comprehensive SaaS education management system. Integrated with Microsoft 365, it features three main solutions: Curricula for learning management, Examena for secure online exams, and Vitae for managing stakeholder relationships. The company raised $11 million SGD for its expansion. AvePoint plans to go public on NASDAQ with a valuation of $2 billion USD, reporting an estimated $148-$151 million revenue in 2020, marking a 29% year-over-year growth.
AvePoint, a leader in Microsoft 365 data management, has appointed Jason Beal as senior vice president of global channel and partner ecosystems. Beal, previously with Palo Alto Networks, aims to enhance partnerships with managed service providers and boost the company's global distribution networks. His extensive experience in enterprise content management and cloud technologies is expected to accelerate AvePoint's channel growth. Recent data shows Microsoft Teams has reached 115 million daily active users, highlighting the demand for collaboration security. AvePoint's merger with Apex Technology Acquisition Corporation (NASDAQ: APXT) is anticipated to further drive channel investments.
Apex Technology Acquisition Corporation (NASDAQ: APXT) and AvePoint reported preliminary financial results for 2020. Total revenue is projected between $148 million and $151 million, reflecting a 29% increase year-over-year. AvePoint anticipates cash and equivalents of approximately $70 million, remaining debt-free. The companies aim to close their business combination by Q1 or Q2 2021, pending SEC review and shareholder approval. AvePoint's strong performance is attributed to the rise in Microsoft Teams usage amid the pandemic, showcasing its growth potential in data management solutions.
Apex Technology Acquisition Corp. (NASDAQ: APXT) and AvePoint, a leading data management solutions provider for the Microsoft cloud, announced their participation in two upcoming investor events. Co-CEOs Jeff Epstein and Dr. Tianyi Jiang will present at the Jefferies Software Virtual Bus Tour on January 14th and the Northland Securities SPAC Investor Conference on January 20th. These engagements aim to enhance investor relations and showcase AvePoint's solutions, which serve over 7 million cloud users, including a quarter of the Fortune 500.
AvePoint, a leading data management solutions provider for Microsoft cloud, has appointed Christian Buckley as its new Microsoft Go-To-Market Director. Buckley, a recognized expert with Microsoft MVP and Regional Director accolades, will oversee collaboration between AvePoint and Microsoft in enhancing their partnership and product alignment. His role aims to ensure AvePoint's technology evolves with Microsoft 365, improving digital collaboration solutions. AvePoint, a five-time Global Microsoft Partner of the Year, serves over 7 million cloud users, including many Fortune 500 companies.
AvePoint has announced a definitive business combination agreement with Apex Technology Acquisition Corporation (NASDAQ: APXT). Upon closure, the merged entity will retain the name AvePoint and trade on Nasdaq under the new symbol "AVPT." The deal values the combined company at approximately $2 billion, with an expected revenue of $148 million for 2020, representing a 26% year-over-year increase.
Dr. Tianyi Jiang will remain as CEO. The transaction is subject to shareholder approval and expected to close in Q1 2021, bolstered by $352 million in Apex's trust and a $140 million PIPE.
