AvePoint, Inc. posted a net profit attributable to common shareholders of US$13.0 million for the quarter ended Sept 30, surging from US$2.6 million a year earlier, as stronger demand for its cloud-based offerings lifted margins.

Earnings per share rose to US$0.06 from US$0.01 a year earlier. The board did not declare a dividend for the period.

Third-quarter revenue climbed 23.6 % year-on-year to US$109.7 million. SaaS sales contributed US$84.0 million, up 38.0 % YoY and accounting for 77 % of total revenue. Term licence and support revenue fell 21.2 % to US$11.1 million, while services revenue expanded 27.3 % to US$13.8 million. Maintenance income declined 72.0 % to US$0.8 million, reflecting the group’s ongoing pivot away from perpetual licences.

By geography, sales in North America grew 14.5 % YoY to US$43.1 million. Revenue from Europe, the Middle East and Africa increased 34.8 % to US$35.5 million, and Asia-Pacific turnover rose 25.4 % to US$31.2 million.

Gross profit advanced 20.7 % to US$81.6 million, although the gross margin eased to 74.4 % from 76.1 % a year earlier owing to higher cloud-hosting and personnel costs. Operating income improved to US$8.1 million from US$7.7 million.

During the quarter the company secured a secondary listing on the Singapore Exchange’s main board, completed the acquisition of an 80 % stake in Netherlands-based Ydentic to bolster its managed service provider platform, and repurchased US$8.4 million of shares under its ongoing US$150 million buy-back programme. It also used US$12.1 million to acquire the remaining minority interest in MaivenPoint Pte. Ltd., making the education-technology subsidiary wholly owned.

Looking ahead, management highlighted a 26 % rise in annual recurring revenue to US$390.0 million as at Sept 30 and reiterated its focus on scaling partner channels and expanding the AvePoint Confidence Platform to capture growing demand for data governance and security solutions. No formal earnings or revenue guidance was provided.