Core Points - AvePoint has won its sixth global Microsoft Partner of the Year Award, specifically in the Education category, recognizing its excellence in innovation and implementation of customer solutions based on Microsoft technology [1][2] - The Microsoft Partner of the Year Awards highlight outstanding Microsoft Cloud applications, services, devices, and AI innovations, with this year's awards receiving over 4,700 nominations from more than 100 countries [2][4] - AvePoint's AI-powered MaivenPoint edtech platform was recognized for transformative learning solutions, including an AI chatbot for Fairfield Primary School that served as a language tutor and addressed students' social and emotional needs [3] Company Achievements - AvePoint was awarded two Microsoft Singapore Partner of the Year Awards for the Education Industry and Future of Work Transformation, Modern Work categories, and was a finalist for the Microsoft APAC ISV Partner of the Year Award last year [5] - The company continues to collaborate with Microsoft as a Microsoft Content AI Partner, featuring advanced integrations for Microsoft 365 Backup Storage and as a SharePoint Embedded launch partner for AvePoint Confide [5][6] - AvePoint has over 21,000 customers worldwide relying on its data management and governance solutions across various cloud environments, including Microsoft, Google, and Salesforce [6]

Core Points - AvePoint has been awarded the 2024 Education Microsoft Partner of the Year for its AI-powered MaivenPoint edtech platform, recognized for its innovative solutions in the education sector [1][3] - The Microsoft Partner of the Year Awards highlight outstanding Microsoft Cloud applications and services, with over 4,700 nominations from more than 100 countries this year [2][4] - AvePoint's AI initiatives include the development of a chatbot for Fairfield Primary School, which serves as a language tutor and addresses students' social and emotional needs, and enhancements in workforce training with NTUC LearningHub, saving over 2,500 hours annually [3][5] Company Achievements - AvePoint has won its sixth global Microsoft Partner of the Year Award, demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology [1][2] - The company has also received two Microsoft Singapore Partner of the Year Awards for the Education Industry and Future of Work Transformation, Modern Work categories [5] - AvePoint collaborates with Microsoft as a Content AI Partner and is among the first to feature advanced integrations for Microsoft 365 Backup Storage [5][6] Industry Context - The recognition of AvePoint reflects the growing importance of AI and cloud technologies in enhancing educational outcomes and workforce training [2][4] - The Microsoft Partner of the Year Awards serve to inspire innovation among partners, showcasing the capabilities and creativity within the partner ecosystem [4]

Not long after a Wall Street analyst increased their price target by a significant amount and retained a ‘buy’ recommendation, the stocks of independent software vendor for specialty SaaS solutions AvePoint (NASDAQ: AVPT) have skyrocketed to the highest level in 12 months.Specifically, shortly upon Northland Securities raising their price target on AVPT shares from $12.00 to $18.00 alongside the ‘buy’ score, AvePoint stock started to increase in price, culminating with a one-year high, according to the most ...

JERSEY CITY, N.J., June 18, 2024 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ:AVPT), the global leader in robust data management and data governance, today announced it has been named to Inc.'s annual Best Workplaces list in the software industry. Honorees represent a group of American companies that have created exceptional workplaces and company cultures, selected from thousands of applicants, and AvePoint's achievement reflects its ongoing investment in its people, a critical component to innovation and growth. ...

Core Insights - AvePoint has been recognized in Inc.'s annual Best Workplaces list in the software industry, highlighting its exceptional workplace culture and investment in employees [1][3] - The company has grown significantly since its inception in 2001, now employing 2,600 people globally while maintaining an entrepreneurial spirit [2] - AvePoint's focus on internal mobility, enablement, and rewards programs has fostered a performance-based culture that encourages individual growth [2] Company Culture and Recognition - AvePoint's overall survey score exceeded the average for similar-sized companies, and its benefits score was ten percentage points higher than average [1] - The company has received multiple accolades for its culture, including being named one of the best places to work in the U.S. for three consecutive years by BuiltIn [3] Technology and Innovation - AvePoint is investing in AI to enhance operations and productivity, evolving its Confidence Platform to help organizations integrate AI into their business frameworks [2] - The company aims to prepare customers for using AI tools like Copilot for Microsoft 365, showcasing its commitment to innovation [2][4]

We’re all online these days. Thanks to technology’s exponential growth, we’ve been hurtling through the digital age, making it easier for everyone to access the internet anytime and anywhere. With that ease of access, however, comes several threats. Personal information can be swiped off unsecured servers. Credit card details can be stolen. Lives can be ruined. That’s why companies invest in cybersecurity—and many investors invest in cybersecurity stocks, making it one of the most promising up-and-coming se ...

Tech stocks and software companies have recovered substantially in the past few years and continue to climb upwards as Wall Street feels comfortable slapping a higher and higher premium on these stocks. The tech sector’s resilience and growth potential have been the driving forces behind this bullish sentiment.Of course, we all know that the Big Tech companies have dominated and will likely continue to be the top dogs in the tech industry in the coming decade. However, it is worth peering at some other tech ...

Financial Data and Key Metrics Changes - For Q1 2024, total revenues were $74.5 million, up 25% year-over-year, exceeding guidance [18] - SaaS revenue was $51.3 million, growing 44% year-over-year, comprising 69% of total revenues compared to 60% a year ago [18] - Gross profit for Q1 was $55.2 million, with a gross margin of 74.1%, up from 71.5% in Q1 2023 [22] - Operating income was $6.6 million, with an operating margin of 8.9% [23] - Total ARR as of March 31, 2024, was $274.5 million, representing year-over-year growth of 23% [20] Business Line Data and Key Metrics Changes - SaaS revenue continues to be the fastest-growing segment, with a 44% year-over-year growth [18] - Services revenues grew 8% year-over-year but declined as a percentage of total revenue to 14% [19] - Term license and support revenue declined year-over-year, both in dollars and as a percentage of total revenue [18] Market Data and Key Metrics Changes - SaaS revenue growth was above 40% in every region: North America (42%), EMEA (46%), and APAC (47%) [19] - North America ARR grew 22%, EMEA ARR grew 27%, and APAC ARR grew 27% [20] Company Strategy and Development Direction - The company focuses on building a strong data foundation for customers to leverage generative AI and improve operational efficiency [6] - Ongoing investments are being made to innovate in the dynamic business environment, particularly in AI readiness solutions [16] - The strategy emphasizes the importance of a robust information management strategy to realize benefits from AI [13] Management's Comments on Operating Environment and Future Outlook - Management highlighted the critical need for organizations to prepare their data for AI deployment, citing that 83% of surveyed organizations plan to increase AI spending [8] - The company raised its full-year guidance for total ARR, total revenue, and non-GAAP operating income, reflecting confidence in continued growth [25] Other Important Information - The company ended Q1 with $219.3 million in cash and short-term investments, with cash generated from operations of $7.8 million [24] - The company repurchased 1.8 million shares for approximately $13.7 million during the quarter [24] Q&A Session Summary Question: Can you talk about the rollout of the Copilot analytics offering within tyGraph? - Management noted that tyGraph for Copilot is the first solution in the market to help customers focus on high-density collaboration areas for AI readiness [29] Question: What is driving the inflection in SaaS growth? - Management indicated that growth is driven by both new customers and expansion within the existing customer base, contributing to a net retention rate of 110% [32] Question: Are there any updates on the SMB sector and potential budget constraints? - Management reported strong demand from managed service providers (MSPs) and did not observe significant weakness in the SMB segment [36] Question: How is the push towards cost optimization trending among larger customers? - Management observed that customers are increasingly seeking platform vendors for cost savings and maximizing ROI on existing cloud investments [55] Question: How is the go-to-market strategy evolving? - Management emphasized the importance of a comprehensive data management approach and the need for a solid data state to support AI initiatives [62]

Financial Performance - Total revenue for Q1 2024 was $74.534 million, a 25% increase from $59.572 million in Q1 2023[19] - SaaS revenue reached $51.311 million, up 45% from $35.512 million year-over-year[19] - Gross profit for the quarter was $54.092 million, compared to $41.682 million in the same period last year, reflecting a gross margin improvement[19] - Operating expenses totaled $57.293 million, an increase of 13% from $50.514 million in Q1 2023[19] - The net loss for Q1 2024 was $1.954 million, a significant improvement from a net loss of $9.182 million in Q1 2023[19] - Total comprehensive loss for the three months ended March 31, 2024, was $2,221 thousand, compared to $9,148 thousand for the same period in 2023, indicating a decrease of about 75.8%[22] - Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders, was $(0.01) for the three months ended March 31, 2024, compared to $(0.05) for the same period in 2023[120] Cash and Assets - Cash and cash equivalents as of March 31, 2024, were $215.489 million, down from $223.162 million at the end of 2023[17] - Total assets decreased to $413.818 million from $442.582 million at the end of 2023[17] - Current liabilities decreased to $163.461 million from $176.665 million at the end of 2023[17] - Cash and cash equivalents at the end of the period were $215,489 thousand, down from $228,827 thousand at the end of 2023, reflecting a decrease of approximately 5.8%[28] - The company's cash balances at entities with regulations limiting cash transfer were $9.1 million as of March 31, 2024, down from $13.1 million as of December 31, 2023[42] - The total stockholders' equity as of March 31, 2024, was $212,748 thousand, a decrease from $229,147 thousand as of December 31, 2023, indicating a decline of approximately 7.1%[24] Revenue Breakdown - Revenue from North America was $29.895 million, up from $24.436 million year-over-year, reflecting a 22.5% increase[115] - EMEA revenue increased to $22.806 million from $19.488 million, a growth of 16.0%[115] - APAC revenue rose to $21.833 million, compared to $15.648 million in the prior year, marking a 39.2% increase[115] - Total annual recurring revenue (ARR) increased 23% year-over-year to $274.5 million as of March 31, 2024[128] - SaaS revenue represented 69% of total revenue for the three months ended March 31, 2024, up from 60% in the prior year[150] Operating Activities - Net cash provided by operating activities for the three months ended March 31, 2024, was $7,756 thousand, compared to $1,250 thousand for the same period in 2023, showing an increase of about 520.5%[28] - The company reported a GAAP operating loss of $3.2 million for the three months ended March 31, 2024, with a GAAP operating margin of (4.3)%, while the non-GAAP operating income was $6.6 million, resulting in a non-GAAP operating margin of 8.9%[171] Stock and Compensation - Stock-based compensation expense for the three months ended March 31, 2024, was $9,458 thousand, up from $8,104 thousand in the same period of 2023, representing an increase of approximately 16.7%[28] - The Company repurchased common stock amounting to $13,743 thousand during the three months ended March 31, 2024, compared to $1,811 thousand in the same period of 2023[28] - The Company reported total stock-based compensation for the three months ended March 31, 2024, was $9.458 million, up from $8.104 million in the same period of 2023, representing a 16.7% increase[98] Future Outlook and Strategy - The company continues to focus on expanding its SaaS offerings and improving operational efficiency to drive future growth[19] - The company continues to focus on expanding its cloud-native software platform to enhance operations and secure digital workplaces for organizations globally[31] - The company plans to continue investment in sales and marketing by hiring additional personnel and executing a global go-to-market strategy[143] Risks and Compliance - The company is exposed to foreign currency exchange risk, which may significantly affect revenue and expenses due to fluctuations in foreign exchange rates[196] - The company has identified a material weakness in internal control over financial reporting as of March 31, 2024, affecting the accuracy and completeness of information used[203] - The company’s financial position and results of operations are presented in conformity with U.S. GAAP despite the identified material weakness[204]

EXHIBIT 99.1 AvePoint Announces First Quarter 2024 Financial Results First quarter SaaS revenue of $51.3 million, representing 44% year-over-year growth First quarter Total revenue of $74.5 million, representing 25% year-over-year growth Total ARR of $274.5 million, representing 23% year-over-year growth JERSEY CITY, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), a global leader in robust data management and data governance, today announced financial results for the first quarter ended Marc ...