Core Points - AvePoint has made history by becoming the first B2B SaaS stock listed on the Singapore Exchange (SGX) and the first company to achieve a dual listing on both Nasdaq and SGX [1][3][4] - The SGX listing is part of AvePoint's global expansion strategy, aimed at broadening its customer, partner, and investor base in response to increasing demand for data protection technology [2][3] - AvePoint's presence in Singapore, established in 2009, serves as its Asia Headquarters and International R&D Hub, driving innovation in data security, governance, and resilience [2][5] Company Performance - AvePoint's secondary offering of shares was more than three times oversubscribed, indicating strong investor interest, with shares priced at SGD 19.50 each [4] - The company has over 25,000 customers globally, relying on the AvePoint Confidence Platform for data management across various collaboration environments [5] Industry Context - The dual listing on SGX reflects AvePoint's strong track record in the Asia Pacific region and highlights Singapore's role as a key international hub for capital and innovation [3][4] - The listing is expected to enhance AvePoint's visibility and support its growth in the rapidly evolving technology landscape in Asia [2][3]

Group 1 - AvePoint announced a public offering of 13,290,360 shares at a price of S$19.50 per share, aimed at listing on the Singapore Exchange (SGX-ST) [1][2][3] - The shares are expected to begin trading on the SGX-ST on September 19, 2025, under the symbol "AVP" [2] - The primary purpose of the offering is to create a market for AvePoint's common stock on the SGX-ST, with the company not receiving any proceeds from the offering [3] Group 2 - KEM Phoenix, LLC has granted underwriters an option to purchase an additional 1,993,550 shares within 30 days from the SGX-ST listing date to cover over-allotments [2] - Jefferies LLC, Morgan Stanley & Co. LLC, Oversea-Chinese Banking Corporation Limited, and UBS Securities LLC are acting as joint global coordinators and bookrunners for the offering [3] Group 3 - A registration statement on Form S-3 was filed with the SEC and became effective on September 15, 2025, with a preliminary prospectus supplement available on the SEC's website [4] - The final prospectus supplement reflecting the final terms of the offering will also be filed with the SEC [4] Group 4 - AvePoint is recognized as a global leader in data security, governance, and resilience, serving over 25,000 customers worldwide [6] - The company has a global channel partner program that includes approximately 5,000 managed service providers and resellers, with solutions available in over 100 cloud marketplaces [6]

AvePoint FY Conference Summary Company Overview - **Company**: AvePoint (NasdaqGS:AVPT) - **Industry**: Cybersecurity and Data Management Key Points and Arguments Cyber Resilience and Demand Drivers - Cyber resilience remains a significant demand driver, especially post-Delta incident, with ongoing complexities due to AI advancements and cyber threats [5][6] - The nature of digital systems means they cannot be proven fully secure, highlighting the need for continuous improvement in cybersecurity measures [5] Competitive Landscape and Vendor Consolidation - AvePoint differentiates itself by offering a comprehensive suite of services beyond backup and ransomware recovery, including data archiving, governance, and lifecycle management [7][8] - Competitors like Cohesity and Rubrik are expanding into security, but AvePoint maintains a unique position by focusing on enterprise content management and governance [9] Importance of Data Quality for AI - Successful AI deployment relies on high-quality, relevant data, with a focus on continuous training and refinement [10][11] - AvePoint's solutions help organizations manage data hygiene, which is crucial for effective AI applications [11] Regulatory Compliance and Governance - New regulations like DORA and the EU Act are driving demand for governance solutions, with AvePoint providing tools to demonstrate compliance and maintain data lineage [20][21] - The company has helped clients save millions in fines by ensuring compliance with regulations such as ITAR [23] Market Penetration and Growth Opportunities - AvePoint currently holds about 20% of the Microsoft productivity cloud market in regulated industries, with significant growth potential in both regulated and non-regulated sectors [24][31] - The company is expanding its presence in the SMB segment, which now accounts for 40% of its revenue, and is seeing rapid growth in EMEA and APAC regions [25][29] Multi-Cloud Strategy - Less than 10% of AvePoint's business comes from non-Microsoft clouds (Google, AWS, Salesforce), indicating a substantial opportunity for growth in multi-cloud environments [33] - The company is enhancing its platform to support various cloud services, responding to customer demand for comprehensive data protection across different environments [36] Risk Posture and Command Center - The newly launched Risk Posture and Command Center provides organizations with insights into their data governance and compliance status, offering risk scores and policy recommendations [41][42] - This tool is particularly valuable for CISOs and CIOs, enabling proactive management of data security [43] Future Growth and Investment Strategy - AvePoint aims to reach $1 billion in annual recurring revenue (ARR) by 2029, with a projected compound annual growth rate (CAGR) of 25% [44] - The company plans to achieve this through organic growth, channel expansion, and potential acquisitions to enhance its market position [45] Marketing and Brand Awareness - Increased investments in digital marketing and account-based marketing are being made to enhance brand visibility and customer engagement [47] - The channel strategy is crucial for driving sales efficiency and expanding market reach [48] Additional Important Insights - AvePoint's holistic approach to data protection and governance positions it well in a fragmented competitive landscape [17][19] - The company emphasizes the importance of proactive remediation and policy adjustments based on real-time signals to enhance cybersecurity readiness [19][42]

Company Overview - AvePoint has been in operation for over 20 years, starting in New Jersey and focusing on Microsoft SharePoint, an enterprise content management platform [2] - The company was the first to transition to the cloud when Microsoft launched SharePoint Online, recognizing early on in 2010 that SharePoint would become integral to Microsoft Office [2][3] - Currently, AvePoint is the largest player in global Microsoft Office cloud data management and governance [3] Industry Position - The company has established itself as a leader in the cloud data management and governance space, particularly in relation to Microsoft Office products [3]

Summary of AvPoint Conference Call Company Overview - **Company**: AvPoint - **Industry**: Software, specifically focusing on data management and governance within the Microsoft cloud ecosystem - **Founding**: Over 20 years ago, initially focused on Microsoft SharePoint - **Current Position**: Largest player in Microsoft Office cloud data management and governance globally [5][6] Core Business and Offerings - **Main Services**: - Data management for unstructured data (emails, chats, contracts, etc.) - Lifecycle management, backups, ransomware detection, license management, and data integration - **Revenue Composition**: 90% from Microsoft cloud stack, 10% from other platforms like Google, AWS, and Salesforce [6][20] Market Position and Competitive Landscape - **Market Trends**: - Increased focus on data security and AI at the board level - Convergence of backup and security services, with many players entering the data security space [11][18] - **Competitive Strength**: - Strongest in Office Cloud; wins 9 out of 10 competitive bids when Office Cloud is prioritized - Competes with various players across different segments (e.g., Commvault, Rubrik, Veeam) [20][23] Customer Engagement and Retention - **Net Retention Rate (NRR)**: Currently at 112%, with aspirations for 115% [49] - **Upselling Strategy**: Majority of NRR increases from upselling additional capabilities rather than expanding customer counts [27] - **Customer Segmentation**: - Enterprise customers have the highest retention rates, while SMBs historically have lower rates but are increasingly engaging through Managed Service Providers (MSPs) [55][58] Product Development and AI Integration - **AI as a New UI**: Leveraging AI capabilities to enhance user experience and product functionality [22] - **Future Plans**: Introduction of more AI capabilities and a shift towards consumption-based models [30][46] - **Data Governance for AI**: Early stages of managing data generated by AI, with a focus on data hygiene and governance [72][74] Financial Goals and Growth Strategy - **Target**: Achieve $1 billion in Annual Recurring Revenue (ARR) within five years, with a commitment to 25% annual growth [86] - **Investment Philosophy**: Maintain discipline in investments while exploring M&A opportunities to accelerate growth [87][88] Regional Insights - **Global Presence**: Strong in North America, with growing segments in Europe and Asia, particularly in SMBs through digital channels and MSPs [63][66] Conclusion - **Overall Strategy**: AvPoint aims to capitalize on the growing demand for data management and governance solutions, particularly in the context of AI and cloud services, while maintaining a disciplined approach to profitability and growth [86][88]

Summary of AppPoint Conference Call Company Overview - AppPoint is a global leader in data management and governance software, offering a cloud-based platform for various industries, including federal government and financial services [2][3] - The company provides solutions for data backup, ransomware detection, recovery, data archiving, governance, lifecycle management, and data analytics [4][5] Financial Performance - Q2 results showed a revenue of $100 million, marking a 31% year-over-year growth and a 27% growth in Annual Recurring Revenue (ARR) [8][9] - Operating margins improved by 720 basis points, achieving a Rule of 40 score of 44 [10][11] - Net Revenue Retention (NRR) reached a record 112%, with Gross Revenue Retention (GRR) at 89% [11][13] Market Dynamics - Demand for AppPoint's solutions remains high across all major geographies (North America, EMEA, APAC) and customer segments (enterprise, mid-market, SMB) [17][18] - The public sector is experiencing double-digit growth, although it is growing slower than the overall North American market, which saw a 25% growth in Q2 [22][23] Guidance and Future Outlook - The company raised its full-year guidance for ARR, revenue, and operating income after strong Q1 and Q2 performances [19][20] - Q3 revenue growth is expected to be around 19% year-over-year, influenced by a shift in revenue composition from term licenses to SaaS [23][24] AI and Software Industry Position - AppPoint is well-positioned to support AI initiatives by ensuring data governance and security, which are critical for successful AI deployments [30][31] - The company is leveraging AI to enhance data security and governance, viewing AI as an opportunity rather than a disruption [33] Relationship with Microsoft - AppPoint has a strong partnership with Microsoft, which is seen as a competitive strength rather than a vulnerability [34][35] - The company aims to expand its footprint within the Microsoft ecosystem while also growing its business outside of it, which currently accounts for less than 10% of revenue but is expected to grow significantly [37][41] Competitive Landscape - AppPoint faces competition from various companies depending on the solution area, including Veritas, Commvault, Veeam, and Informatica [42][43] - The company does not view Microsoft as a direct competitor but rather as a partner that enhances its offerings [45][46] Growth Strategy - AppPoint is focused on achieving a target of $1 billion in ARR by 2029, with a commitment to profitable growth [58][62] - The company is exploring M&A opportunities to accelerate growth while balancing profitability [53][56] Key Messages for Investors - AppPoint has a strong market position with a focus on responsible growth, high customer retention, and a commitment to innovation [64][65] - The company aims to escape the small-cap tech discount and be recognized as a strong global software brand [65]

Core Insights - AvePoint has launched a modernized Global Partner Program aimed at enhancing partner growth and service delivery in response to increasing demand for data security, governance, and AI enablement [1][8] - The managed IT services market is projected to grow by 12.6% to exceed US$600 billion, highlighting the strategic importance of this transition for AvePoint and its partners [2] - The new points-based program focuses on rewarding partner engagement and activities that drive success, rather than solely on revenue [3][7] Company Initiatives - The new program is designed to help partners capitalize on opportunities in high-value service engagements by rewarding engagement metrics [3][4] - Key benefits of the program include flexible advancement through tiers based on engagement, comprehensive enablement with access to technical resources, and business development support for advanced partners [7] - Early participants in the pilot program have reported significant benefits, including structured paths for onboarding and training [5][6] Market Context - The shift towards managed IT services is driven by organizations seeking specialized expertise in data security and governance, as well as AI readiness [2] - AvePoint's enhancements to its partner program are part of a broader strategy that includes acquisitions and new product launches to strengthen its channel ecosystem [8]

Financial Performance - AvePoint, Inc. reported quarterly earnings of $0.06 per share, matching the Zacks Consensus Estimate, compared to a loss of $0.01 per share a year ago, adjusted for non-recurring items [1] - The company posted revenues of $102.02 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 5.72%, and up from $77.96 million year-over-year [2] - AvePoint has surpassed consensus EPS estimates two times and revenue estimates four times over the last four quarters [1][2] Stock Performance - AvePoint shares have increased approximately 8.2% since the beginning of the year, outperforming the S&P 500's gain of 7.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $105.23 million, and for the current fiscal year, it is $0.27 on revenues of $402.1 million [7] - The outlook for the Internet - Software industry, where AvePoint operates, is currently in the top 28% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]

Financial Data and Key Metrics Changes - Total revenues for Q2 were $102,000,000, up 31% year over year, exceeding guidance [23] - SaaS revenue for Q2 was $77,300,000, representing a year-over-year growth of 44% [23] - Gross profit for Q2 was $76,300,000, with a gross margin of 74.8%, down from 76.2% a year ago [32] - Operating income for Q2 was $18,800,000, with an operating margin of 18.4%, marking a year-over-year margin expansion of over 700 basis points [33] Business Line Data and Key Metrics Changes - SaaS comprised 76% of total Q2 revenues, the highest quarterly mix ever, compared to 69% a year ago [23] - Term license and support revenue declined 19% year over year in Q2 [24] - Services revenue was $14,500,000, accounting for 14% of total Q2 revenues [26] Market Data and Key Metrics Changes - In North America, SaaS revenues grew 38% year over year, representing 82% of total North America revenues [26] - In EMEA, SaaS revenues grew 50% year over year, representing 91% of total EMEA revenues [26] - In APAC, SaaS revenues grew 48% year over year, representing 52% of total APAC revenues [27] Company Strategy and Development Direction - The company aims to reach $1,000,000,000 in ARR by 2029, reflecting confidence in market opportunities [6] - The platform is built around a unified framework with three core pillars: data availability, security, and governance [8] - The company is focusing on multi-cloud governance and expanding capabilities to support platforms like Google Workspace and Salesforce [62] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand across all customer segments and regions, with healthy growth in North America, EMEA, and APAC [44] - The company is increasing guidance for total ARR, total revenue, and non-GAAP operating income due to positive momentum [36] - Management expressed confidence in navigating potential uncertainties in the public sector for the second half of the year [36] Other Important Information - The company ended Q2 with $430,100,000 in cash and short-term investments [34] - The balance of remaining warrants was exercised in July for additional cash proceeds of $8,700,000 [35] - The company repurchased 414,000 shares in Q2 for approximately $7,000,000 [35] Q&A Session Summary Question: Can you talk about macro for commercial and the government vertical? - Management indicated no significant changes in federal guidance and noted healthy demand across commercial sectors [40][42] Question: Can you discuss your go-to-market investments? - Management highlighted improvements in sales efficiency and a focus on capacity planning for future growth [45][46] Question: What is the biggest theme driving customer conversations today? - The primary focus remains on security threats and AI deployment capabilities [51][52] Question: Can you explain the discrepancy in ARR and revenue guidance? - Management clarified that while ARR guidance remained unchanged, revenue guidance was increased due to operational performance and FX headwinds [54][56] Question: How early are you in the multi-cloud governance opportunity? - The company is in early stages but has already generated meaningful revenue in multi-cloud services [62][63] Question: What is driving the increase in dollar-based net revenue retention rate? - The increase is attributed to strong cross-selling and expansion within the existing customer base [78][80]

[FORM 10-Q Cover Page](index=1&type=section&id=FORM%2010-Q%20Cover%20Page) Identifies AvePoint, Inc. as the registrant for the Form 10-Q for the period ended June 30, 2025, including key corporate details [Company Information](index=1&type=section&id=Company%20Information) Provides AvePoint, Inc.'s identification details, including filing type, period, and headquarters location - Registrant: **AvePoint, Inc.**[2](index=2&type=chunk) - Filing Type: **Quarterly Report on Form 10-Q** for the period ended June 30, 2025[2](index=2&type=chunk) - Headquarters: **525 Washington Blvd, Suite 1400, Jersey City, NJ 07310**[2](index=2&type=chunk) [Securities and Filer Status](index=1&type=section&id=Securities%20and%20Filer%20Status) AvePoint, Inc.'s Common Stock is traded on The Nasdaq Global Select Market under the symbol AVPT, classified as a Large Accelerated Filer Securities Registered | Title of each class | Trading symbol | Name of each exchange on which registered | | :------------------ | :------------- | :---------------------------------------- | | Common Stock, par value $0.0001 per share | AVPT | The Nasdaq Global Select Market | | Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share | AVPTW | N/A(1) | - Warrants (AVPTW) were delisted from The Nasdaq Global Select Market on July 21, 2025, following redemption of all outstanding warrants[5](index=5&type=chunk) - Filer Status: **Large accelerated filer**[7](index=7&type=chunk) - Outstanding Common Stock: **211,926,808 shares** as of August 1, 2025[8](index=8&type=chunk) [TABLE OF CONTENTS](index=3&type=section&id=TABLE%20OF%20CONTENTS) Provides an organized overview of the report's structure, detailing all sections and their respective page numbers [FORWARD-LOOKING STATEMENTS](index=4&type=section&id=FORWARD-LOOKING%20STATEMENTS) Contains important disclaimers regarding forward-looking statements, emphasizing inherent risks and uncertainties [Disclaimer on Forward-Looking Statements](index=4&type=section&id=Disclaimer%20on%20Forward-Looking%20Statements) Advises readers that the report contains forward-looking statements subject to risks, with no obligation to update - Forward-looking statements are identified by specific terminology such as 'believe,' 'project,' and 'expect'[13](index=13&type=chunk) - Readers are cautioned against undue reliance on forward-looking statements due to inherent risks and uncertainties[13](index=13&type=chunk) - The Company does not undertake to publicly update or revise forward-looking statements, except as legally required[14](index=14&type=chunk) [PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) Presents AvePoint, Inc.'s unaudited condensed consolidated financial statements and management's discussion and analysis [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Presents AvePoint, Inc.'s unaudited condensed consolidated financial statements and accompanying notes for the specified periods [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Details the company's financial position, including assets, liabilities, and equity, as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :------------------ | | Cash and cash equivalents | $429,816 | $290,735 | | Total current assets | $539,823 | $394,795 | | Total assets | $700,129 | $519,055 | | Total current liabilities | $228,229 | $222,955 | | Total liabilities | $256,994 | $248,107 | | Total stockholders' equity | $443,135 | $270,948 | - Cash and cash equivalents significantly increased from **$290.7 million** at December 31, 2024, to **$429.8 million** at June 30, 2025[20](index=20&type=chunk) - Total assets grew by approximately **$181 million**, while total liabilities saw a modest increase of about **$8.9 million**[20](index=20&type=chunk) [Condensed Consolidated Statements of Income (Loss)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20%28Loss%29) Presents the company's financial performance, including revenue, gross profit, and net income (loss), for the specified periods Condensed Consolidated Statements of Income (Loss) Highlights (in thousands, except per share) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total revenue | $102,018 | $77,961 | $195,082 | $152,495 | | Gross profit | $75,539 | $59,019 | $144,704 | $113,111 | | Income (loss) from operations | $7,094 | $(2,138) | $10,381 | $(5,339) | | Net income (loss) | $2,893 | $(12,938) | $6,459 | $(14,892) | | Basic EPS | $0.01 | $(0.07) | $0.03 | $(0.08) | | Diluted EPS | $0.01 | $(0.07) | $0.03 | $(0.08) | - Total revenue increased by **30.9%** for the three months and **27.9%** for the six months ended June 30, 2025, year-over-year[22](index=22&type=chunk) - The company reported net income for both the three and six months ended June 30, 2025, reversing prior year losses[22](index=22&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) Details the company's comprehensive income (loss), including net income and other comprehensive income components Condensed Consolidated Statements of Comprehensive Income (Loss) Highlights (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income (loss) | $2,893 | $(12,938) | $6,459 | $(14,892) | | Foreign currency translation adjustments | $5,983 | $79 | $7,131 | $(399) | | Total comprehensive income (loss) | $8,871 | $(12,900) | $13,573 | $(15,432) | - Foreign currency translation adjustments significantly contributed to comprehensive income in 2025, with a positive impact of **$5.98 million** (3 months) and **$7.13 million** (6 months)[25](index=25&type=chunk) [Condensed Consolidated Statements of Mezzanine Equity and Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Mezzanine%20Equity%20and%20Stockholders%27%20Equity) Outlines changes in mezzanine equity and stockholders' equity, reflecting capital transactions and net income Stockholders' Equity Changes (Six Months Ended June 30, 2025, in thousands) | Item | Amount | | :-------------------------------- | :----- | | Balance, December 31, 2024 | $270,948 | | Proceeds from exercise of options | $8,029 | | Stock-based compensation expense | $20,763 | | Proceeds from exercise of warrants | $159,471 | | Repurchase and retirement of common stock | $(18,953) | | Net income | $6,459 | | Foreign currency translation adjustments | $7,131 | | Balance, June 30, 2025 | $443,135 | - Total stockholders' equity increased from **$270.9 million** at December 31, 2024, to **$443.1 million** at June 30, 2025, driven by warrant exercises and stock-based compensation[28](index=28&type=chunk) - The company repurchased and retired **1,215,323 shares** of common stock for **$18.95 million** during the six months ended June 30, 2025[28](index=28&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Summarizes cash inflows and outflows from operating, investing, and financing activities for the specified periods Condensed Consolidated Statements of Cash Flows Highlights (Six Months Ended June 30, in thousands) | Activity | 2025 | 2024 | | :-------------------------------- | :----- | :----- | | Net cash provided by operating activities | $20,765 | $23,914 | | Net cash used in investing activities | $(30,332) | $(2,587) | | Net cash provided by (used in) financing activities | $146,794 | $(15,820) | | Net increase in cash and cash equivalents | $139,081 | $3,836 | | Cash and cash equivalents at end of period | $429,816 | $226,998 | - Net cash provided by financing activities significantly increased in 2025 to **$146.8 million**, primarily due to proceeds from warrant exercises[31](index=31&type=chunk) - Net cash used in investing activities increased substantially in 2025 to **$30.3 million**, mainly due to business acquisitions and noncontrolling interest repurchase[31](index=31&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures supporting the condensed consolidated financial statements [1. Nature of Business and Organization](index=14&type=section&id=1.%20Nature%20of%20Business%20and%20Organization) Describes AvePoint, Inc.'s core business, its cloud-native data management platform, and corporate structure - AvePoint, Inc. provides the cloud-native **'AvePoint Confidence Platform'** for data security, governance, and business continuity[35](index=35&type=chunk) - The company, incorporated in New Jersey in 2001 and redomiciled in Delaware in 2006, maintains global offices with headquarters in Jersey City, NJ[33](index=33&type=chunk)[34](index=34&type=chunk) [2. Summary of Significant Accounting Policies](index=14&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) Outlines the key accounting principles and estimates used in preparing the interim condensed consolidated financial statements - Unaudited interim condensed consolidated financial statements adhere to SEC rules and GAAP, with certain information condensed or omitted[36](index=36&type=chunk) - Management's estimates and assumptions impact financial statements, particularly for revenue recognition, goodwill, and stock-based compensation[40](index=40&type=chunk) - Cash and cash equivalents include short-term investments; **$12.0 million** of cash balances are subject to transfer limitations as of June 30, 2025[42](index=42&type=chunk) - Recent accounting pronouncements (ASU 2023-09 and ASU 2024-03/2025-01) are being evaluated for future financial statement impact[57](index=57&type=chunk)[58](index=58&type=chunk) [3. Business Combination](index=18&type=section&id=3.%20Business%20Combination) Details the acquisition of Ydentic Holding B.V. and its preliminary fair value allocation - On January 29, 2025, AvePoint acquired **80%** of Ydentic Holding B.V. for approximately **$20.4 million** to expand SaaS solutions for MSPs[60](index=60&type=chunk) Preliminary Fair Value Allocation of Ydentic Acquisition (in thousands) | Item | Preliminary Allocation | | :-------------------------------- | :--------------------- | | Goodwill | $17,736 | | Intangible assets, net | $2,802 | | Total purchase consideration, net of cash acquired | $20,392 | - The purchase price allocation is preliminary and subject to change, with goodwill attributed to unqualifying intangible assets and expected synergies[63](index=63&type=chunk)[66](index=66&type=chunk) - A mandatorily redeemable noncontrolling interest of **$7.1 million** was recognized for the remaining **20%** of Ydentic, with **$0.8 million** interest expense recorded for the six months ended June 30, 2025[68](index=68&type=chunk)[70](index=70&type=chunk) [4. Goodwill](index=20&type=section&id=4.%20Goodwill) Presents the changes in goodwill carrying amounts, primarily due to acquisitions and foreign currency translation Goodwill Carrying Amounts (in thousands) | Item | Amount | | :-------------------------------- | :----- | | Balance, December 31, 2024 | $17,715 | | Acquisitions | $17,736 | | Effect of foreign currency translation | $3,367 | | Balance, June 30, 2025 | $38,818 | - Goodwill increased from **$17.7 million** at December 31, 2024, to **$38.8 million** at June 30, 2025, due to the Ydentic acquisition and foreign currency translation[73](index=73&type=chunk) [5. Intangible Assets, Net](index=20&type=section&id=5.%20Intangible%20Assets,%20Net) Details the net carrying amounts of intangible assets and related amortization expense Intangible Assets, Net (in thousands) | Category | June 30, 2025 (Net Carrying Amount) | December 31, 2024 (Net Carrying Amount) | | :-------------------------------- | :---------------------------------- | :------------------------------------ | | Technology and software | $7,806 | $5,460 | | Customer related assets | $3,763 | $3,293 | | Content | $0 | $136 | | Total | $11,569 | $8,889 | - Total net intangible assets increased from **$8.9 million** to **$11.6 million** from December 31, 2024, to June 30, 2025[74](index=74&type=chunk) - Amortization expense for intangible assets was **$1.6 million** for the six months ended June 30, 2025, up from **$1.2 million** in the prior year[74](index=74&type=chunk) [6. Accounts Receivable, Net](index=21&type=section&id=6.%20Accounts%20Receivable,%20Net) Provides a breakdown of accounts receivable, net, including trade and unbilled receivables Accounts Receivable, Net (in thousands) | Component | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :------------------ | | Trade receivables | $71,628 | $68,007 | | Current unbilled receivables | $22,552 | $20,205 | | Allowance for credit losses | $(851) | $(847) | | Total Accounts receivable, net | $93,329 | $87,365 | - Accounts receivable, net, increased by approximately **$6 million** from December 31, 2024, to June 30, 2025, driven by trade and unbilled receivables[77](index=77&type=chunk) [7. Line of Credit](index=21&type=section&id=7.%20Line%20of%20Credit) Details the company's revolving line of credit and its compliance status - The Company maintains a revolving line of credit of up to **$30.0 million** with HSBC Bank USA, with an additional **$20.0 million** accordion feature[78](index=78&type=chunk) - As of June 30, 2025, the Company was compliant with all covenants and had no outstanding borrowings under the line of credit[78](index=78&type=chunk) [8. Income Taxes](index=21&type=section&id=8.%20Income%20Taxes) Presents the effective tax rates and factors influencing changes for the reported periods Effective Tax Rates | Period | 2025 | 2024 | | :-------------------------------- | :----- | :----- | | Three Months Ended June 30 | 57.8% | (42.1)% | | Six Months Ended June 30 | 44.9% | (67.2)% | - Effective tax rates for both three and six months ended June 30, 2025, significantly increased due to pre-tax income mix, foreign inclusions, and stock-based compensation[80](index=80&type=chunk)[81](index=81&type=chunk) [9. Leases](index=22&type=section&id=9.%20Leases) Details total lease costs and key lease terms for operating leases Total Lease Cost (in thousands) | Period | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total lease cost | $2,745 | $2,239 | $5,366 | $4,361 | - Total lease cost increased for both the three and six months ended June 30, 2025, reflecting higher lease liability and short-term lease expenses[84](index=84&type=chunk) - As of June 30, 2025, the weighted average remaining lease term for operating leases was **3.3 years**, with total future lease payments of **$20.6 million**[87](index=87&type=chunk)[90](index=90&type=chunk) [10. Commitments and Contingencies](index=24&type=section&id=10.%20Commitments%20and%20Contingencies) Outlines significant unconditional purchase commitments and class action settlement contributions - The Company has an unconditional purchase commitment of **$96.0 million** for IT solutions, with **$17.3 million** paid during the six months ended June 30, 2025[95](index=95&type=chunk) - A new unconditional purchase commitment of **$15.0 million** for additional IT solutions was signed in December 2024[96](index=96&type=chunk) - AvePoint contributed **$1.4 million** towards a **$14.4 million** class action settlement, with the remaining **$13 million** covered by insurance policies[100](index=100&type=chunk) [11. Warrant Liabilities](index=26&type=section&id=11.%20Warrant%20Liabilities) Describes the reclassification and eventual elimination of private placement warrant liabilities - Private placement warrants were reclassified to additional paid-in capital by **$1.5 million** after conversion to public warrants on April 10, 2025[105](index=105&type=chunk) - As of June 30, 2025, no private placement warrants remained outstanding[106](index=106&type=chunk) [12. Stockholders' Equity](index=26&type=section&id=12.%20Stockholders%27%20Equity) Details changes in common stock, share repurchase programs, and warrant redemption activities - Common stock outstanding increased to **211,138,994 shares** as of June 30, 2025, from **194,070,512 shares** at December 31, 2024[108](index=108&type=chunk) - The Board of Directors renewed the Share Repurchase Program, authorizing up to **$150 million** in common stock buybacks for an additional three years[109](index=109&type=chunk) - During the six months ended June 30, 2025, the Company repurchased and retired **1,215,323 shares** at an average price of **$15.60 per share**[109](index=109&type=chunk) - On June 11, 2025, the Company initiated redemption of all outstanding public warrants, with **13,866,954 warrants** exercised for **$159.5 million** cash proceeds by June 30, 2025[113](index=113&type=chunk)[114](index=114&type=chunk) - On May 30, 2025, AvePoint repurchased the remaining **23.9%** noncontrolling interest in MaivenPoint Ptd. Ltd. for **$12.1 million**, making it a wholly-owned subsidiary[115](index=115&type=chunk) [13. Growth Equity Fund](index=27&type=section&id=13.%20Growth%20Equity%20Fund) Describes AvePoint's commitment to a growth equity fund and its current financial impact - AvePoint committed **$50.0 million** as a limited partner to A3 Ventures Fund 1, L.P., established with Lumens Capital Partners Ltd. on February 28, 2024[116](index=116&type=chunk)[117](index=117&type=chunk) - As of June 30, 2025, no portion of the **$50.0 million** commitment has been called, with no material financial impact from the Fund's operations[118](index=118&type=chunk) [14. Stock-Based Compensation](index=28&type=section&id=14.%20Stock-Based%20Compensation) Presents total stock-based compensation expense and unrecognized costs related to equity awards Total Stock-Based Compensation Expense (in thousands) | Period | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total expense | $11,143 | $10,538 | $20,763 | $19,996 | - As of June 30, 2025, **$5.4 million** in unrecognized compensation costs for unvested stock options and **$69.5 million** for unvested RSUs remain[124](index=124&type=chunk)[129](index=129&type=chunk) - During the six months ended June 30, 2025, **1,495,597 stock options** were exercised with an intrinsic value of **$18.8 million**, and **2,114,747 Time-Based RSUs** and **301,842 PSUs** were granted[125](index=125&type=chunk)[129](index=129&type=chunk) [15. Fair Value Measurements](index=29&type=section&id=15.%20Fair%20Value%20Measurements) Classifies financial assets and liabilities into a three-level fair value hierarchy based on input observability - Financial assets and liabilities are classified into a three-level fair value hierarchy based on input observability[130](index=130&type=chunk)[131](index=131&type=chunk) Fair Value Measurements (June 30, 2025, in thousands) | Item | Level 1 | Level 2 | Level 3 | Total | | :-------------------------------- | :------ | :------ | :------ | :---- | | Cash Equivalents (Certificates of deposit, Money market funds, U.S. treasury bills) | $0 | $190,978 | $0 | $190,978 | | Short-term investments (Certificates of deposit) | $0 | $338 | $0 | $338 | | Other assets (Certificates of deposit, Notes receivables) | $0 | $206 | $4,304 | $4,510 | | Mandatorily redeemable noncontrolling interest | $0 | $0 | $6,903 | $6,903 | - The fair value of mandatorily redeemable noncontrolling interest (**$6.9 million**) and notes receivables (**$4.3 million**) are classified as Level 3[133](index=133&type=chunk)[134](index=134&type=chunk)[135](index=135&type=chunk) [16. Segment Information](index=31&type=section&id=16.%20Segment%20Information) Confirms the company operates in a single segment and provides revenue breakdown by geographic area - The Company operates in a single operating segment, with the CEO assessing performance and allocating resources on a consolidated basis[139](index=139&type=chunk)[140](index=140&type=chunk) Revenue by Geographic Area (in thousands) | Region | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | North America | $39,571 | $31,697 | $76,023 | $61,592 | | EMEA | $31,822 | $23,089 | $61,306 | $45,895 | | APAC | $30,625 | $23,175 | $57,753 | $45,008 | | Total revenue | $102,018 | $77,961 | $195,082 | $152,495 | - Revenue from North America, EMEA, and APAC all showed significant growth for both the three and six months ended June 30, 2025[143](index=143&type=chunk) [17. Other (Expense) Income, Net](index=33&type=section&id=17.%20Other%20%28Expense%29%20Income,%20Net) Details the components of other (expense) income, net, and their impact on financial results Other (Expense) Income, Net (in thousands) | Item | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Change in value of earn-out and warrant liabilities | $(65) | $(8,670) | $408 | $(7,180) | | Interest income, net | $1,371 | $37 | $1,072 | $71 | | Gain on securities | $1,975 | $2,336 | $3,906 | $4,753 | | Foreign currency exchange loss, net | $(3,416) | $(644) | $(3,746) | $(1,212) | | Other (expense) income, net | $(240) | $(6,970) | $1,346 | $(3,566) | - Other (expense) income, net, improved significantly from a net expense of **$(6.97) million** in Q2 2024 to **$(0.24) million** in Q2 2025, driven by favorable changes in earn-out and warrant liabilities and increased interest income[145](index=145&type=chunk) [18. Net Income (Loss) Per Share](index=33&type=section&id=18.%20Net%20Income%20%28Loss%29%20Per%20Share) Presents basic and diluted net income (loss) per share and weighted average shares outstanding Net Income (Loss) Per Share (in thousands, except per share amounts) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total net income (loss) available to common stockholders | $2,698 | $(12,809) | $6,138 | $(14,525) | | Basic EPS | $0.01 | $(0.07) | $0.03 | $(0.08) | | Diluted EPS | $0.01 | $(0.07) | $0.03 | $(0.08) | | Weighted average diluted shares | 229,179 | 182,804 | 226,951 | 182,150 | - Basic and diluted EPS turned positive to **$0.01** for the three months and **$0.03** for the six months ended June 30, 2025, reversing prior year losses[147](index=147&type=chunk) - Weighted average diluted shares outstanding increased significantly in 2025 due to the effect of dilutive securities such as stock options, RSUs, and warrants[147](index=147&type=chunk) [19. Subsequent Events](index=34&type=section&id=19.%20Subsequent%20Events) Discloses significant events occurring after the reporting period, including new legislation - The **One Big Beautiful Bill Act (OBBBA)** was signed into law on July 4, 2025, with the Company assessing its impact on financial statements[151](index=151&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on AvePoint's financial condition, results of operations, liquidity, and cash flows for the periods presented, highlighting key business developments, financial performance, and operational trends [Second Quarter 2025 Business Highlights](index=35&type=section&id=Second%20Quarter%202025%20Business%20Highlights) Summarizes key business achievements and performance metrics for the second quarter of 2025 - AvePoint's cloud-native **'AvePoint Confidence Platform'** unifies data security, governance, and business continuity, addressing challenges like AI optimization and data growth[156](index=156&type=chunk)[157](index=157&type=chunk)[158](index=158&type=chunk)[160](index=160&type=chunk) Key Business Metrics (as of June 30, 2025) | Metric | Value | Change YoY | | :-------------------------------- | :------ | :--------- | | Total Annual Recurring Revenue (ARR) | $367.6M | 27% (27% adjusted for FX) | | Total Revenue (Q2 2025) | $102.0M | 31% (27% constant currency) | | SaaS Revenue (Q2 2025) | $77.3M | 44% (40% constant currency) | - The AvePoint Confidence Platform expanded with new Risk Posture, Optimization & ROI, and Resilience command centers, including advanced Agentic AI security features[159](index=159&type=chunk) - Named to Inc.'s **Best Workplaces list** for the second consecutive year[159](index=159&type=chunk) [Components of Results of Operations](index=37&type=section&id=Components%20of%20Results%20of%20Operations) Explains the primary revenue sources, cost of revenue, and operating expense categories - Revenue is generated from four primary sources: SaaS, term license and support, services, and maintenance, with recurring components[166](index=166&type=chunk) - SaaS revenue is recognized ratably over the contract term, while term license revenue is recognized upfront for the license component[167](index=167&type=chunk) - Cost of revenue includes direct costs for product delivery and support, personnel, hosting fees, and depreciation/amortization, expected to increase in absolute dollars[169](index=169&type=chunk) - Operating expenses, including Sales & Marketing, G&A, and R&D, primarily consist of personnel-related expenses and stock-based compensation, with planned investment for growth[170](index=170&type=chunk)[173](index=173&type=chunk) [Results of Operations Comparison (Three Months Ended June 30, 2025 vs 2024)](index=39&type=section&id=Results%20of%20Operations%20Comparison%20%28Three%20Months%20Ended%20June%2030,%202025%20vs%202024%29) Compares the company's financial performance for the three months ended June 30, 2025, against the prior year Revenue by Source (Three Months Ended June 30, in thousands) | Revenue Source | 2025 | 2024 | Change Amount | Change % | | :-------------------------------- | :----- | :----- | :------------ | :------- | | SaaS | $77,317 | $53,643 | $23,674 | 44.1% | | Term license and support | $8,922 | $10,983 | $(2,061) | (18.8)% | | Services | $14,486 | $10,517 | $3,969 | 37.7% | | Maintenance | $1,293 | $2,818 | $(1,525) | (54.1)% | | Total revenue | $102,018 | $77,961 | $24,057 | 30.9% | - SaaS revenue was the primary driver of total revenue growth, increasing **44.1%** and representing **76%** of total revenue in Q2 2025[175](index=175&type=chunk) Operating Expenses (Three Months Ended June 30, in thousands) | Expense Category | 2025 | 2024 | Change Amount | Change % | | :-------------------------------- | :----- | :----- | :------------ | :------- | | Sales and marketing | $35,773 | $30,470 | $5,303 | 17.4% | | General and administrative | $19,712 | $18,184 | $1,528 | 8.4% | | Research and development | $12,960 | $12,503 | $457 | 3.7% | - Income tax expense increased to **$4.0 million** in Q2 2025 from **$3.8 million** in Q2 2024, with the effective tax rate shifting from **(42.1)%** to **57.8%**[189](index=189&type=chunk) [Results of Operations Comparison (Six Months Ended June 30, 2025 vs 2024)](index=43&type=section&id=Results%20of%20Operations%20Comparison%20%28Six%20Months%20Ended%20June%2030,%202025%20vs%202024%29) Compares the company's financial performance for the six months ended June 30, 2025, against the prior year Revenue by Source (Six Months Ended June 30, in thousands) | Revenue Source | 2025 | 2024 | Change Amount | Change % | | :-------------------------------- | :----- | :----- | :------------ | :------- | | SaaS | $146,259 | $104,954 | $41,305 | 39.4% | | Term license and support | $20,112 | $20,988 | $(876) | (4.2)% | | Services | $25,423 | $20,998 | $4,425 | 21.1% | | Maintenance | $3,288 | $5,555 | $(2,267) | (40.8)% | | Total revenue | $195,082 | $152,495 | $42,587 | 27.9% | - Total revenue increased **27.9%** to **$195.1 million** for the six months ended June 30, 2025, primarily driven by a **39.4%** increase in SaaS revenue[192](index=192&type=chunk) Operating Expenses (Six Months Ended June 30, in thousands) | Expense Category | 2025 | 2024 | Change Amount | Change % | | :-------------------------------- | :----- | :----- | :------------ | :------- | | Sales and marketing | $70,295 | $60,409 | $9,886 | 16.4% | | General and administrative | $38,379 | $35,052 | $3,327 | 9.5% | | Research and development | $25,649 | $22,989 | $2,660 | 11.6% | - Income tax expense decreased to **$5.3 million** for the six months ended June 30, 2025, from **$6.0 million** in the prior year, with the effective tax rate changing from **(67.2)%** to **44.9%**[205](index=205&type=chunk) [Non-GAAP Financial Measures](index=47&type=section&id=Non-GAAP%20Financial%20Measures) Presents non-GAAP operating income and margin, providing alternative performance insights Non-GAAP Operating Income and Margin (in thousands, except percentages) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | GAAP operating income (loss) | $7,094 | $(2,138) | $10,381 | $(5,339) | | Non-GAAP operating income | $18,783 | $8,749 | $32,156 | $15,359 | | Non-GAAP operating margin | 18.4% | 11.2% | 16.5% | 10.1% | - Non-GAAP operating margin significantly improved to **18.4%** (Q2 2025) and **16.5%** (YTD Q2 2025), driven by enhanced expense management and channel partner strategy scaling[209](index=209&type=chunk)[210](index=210&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=Liquidity%20and%20Capital%20Resources) Discusses the company's cash position, capital resources, and ability to meet future liquidity needs - As of June 30, 2025, AvePoint had **$429.8 million** in cash and cash equivalents and **$0.3 million** in short-term investments, with no outstanding debt[211](index=211&type=chunk) - The Company believes its existing cash, operating cash flows, and **$30.0 million** revolving line of credit are sufficient to meet liquidity needs for at least the next twelve months[214](index=214&type=chunk)[215](index=215&type=chunk) Cash Flows Summary (Six Months Ended June 30, in thousands) | Activity | 2025 | 2024 | | :-------------------------------- | :----- | :----- | | Net cash provided by operating activities | $20,765 | $23,914 | | Net cash used in investing activities | $(30,332) | $(2,587) | | Net cash provided by (used in) financing activities | $146,794 | $(15,820) | - Net cash provided by financing activities significantly increased in 2025 due to **$157.7 million** from warrant exercises, offsetting **$19.0 million** in common stock repurchases[223](index=223&type=chunk) - Net cash used in investing activities increased to **$30.3 million** in 2025, primarily due to business acquisitions and noncontrolling interest repurchase[220](index=220&type=chunk) [Critical Accounting Policies and Estimates](index=50&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Highlights key accounting policies and estimates requiring significant management judgment in financial statement preparation - Financial statement preparation requires management estimates and assumptions, particularly for revenue recognition, goodwill, and stock-based compensation[232](index=232&type=chunk) - Revenue recognition involves judgment in determining distinct performance obligations and allocating transaction prices based on relative standalone selling price (SSP)[234](index=234&type=chunk)[235](index=235&type=chunk) [Economic Conditions, Challenges, and Risks](index=51&type=section&id=Economic%20Conditions,%20Challenges,%20and%20Risks) Discusses the dynamic and competitive market, dependence on talent, and macroeconomic factors affecting the business - The software and cloud-based services markets are dynamic and highly competitive, requiring continuous evolution and adaptation, which may increase costs and decrease margins[237](index=237&type=chunk) - Success is highly dependent on attracting and retaining qualified global employees[238](index=238&type=chunk) - Demand for software and services correlates with dynamic and unpredictable global macroeconomic and geopolitical factors, potentially affecting trade, exchange rates, costs, sales, and earnings[239](index=239&type=chunk) [Seasonality](index=51&type=section&id=Seasonality) Explains the historical quarterly fluctuations in revenue and factors influencing these trends - Quarterly revenue fluctuates, with the first quarter historically the lowest and the fourth quarter the highest, though not indicative of future results[241](index=241&type=chunk) - The timing of new product/service introductions and revenue mix can significantly impact quarterly results due to differing revenue recognition principles[241](index=241&type=chunk) [Recently Issued and Adopted Accounting Pronouncements (MD&A)](index=51&type=section&id=Recently%20Issued%20and%20Adopted%20Accounting%20Pronouncements%20%28MD%26A%29) Directs readers to relevant notes for information on recent accounting pronouncements - For information on recent accounting pronouncements, refer to Note 2 - Summary of Significant Accounting Policies in Part I, Item 1[242](index=242&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details AvePoint's exposure to market risks, including interest rate risk, foreign currency exchange risk, and concentration of credit risk, and assesses their potential impact on the Company's financial condition and results of operations [Interest Rate Risk](index=52&type=section&id=Interest%20Rate%20Risk) Assesses the company's exposure to interest rate fluctuations and its potential financial impact - As of June 30, 2025, AvePoint held **$430.1 million** in cash, cash equivalents, and short-term deposits, primarily in cash deposits and money market funds[245](index=245&type=chunk) - Due to the short-term nature of instruments and no outstanding debt, the Company believes it has no material exposure to interest rate fluctuations[245](index=245&type=chunk) - A hypothetical **10%** change in interest rates would not materially negatively impact the condensed consolidated financial statements[245](index=245&type=chunk) [Foreign Currency Exchange Risk](index=52&type=section&id=Foreign%20Currency%20Exchange%20Risk) Details the company's exposure to foreign currency exchange rate fluctuations and their potential impact - AvePoint is exposed to foreign currency risks from revenue and operating expenses denominated in currencies other than the U.S. Dollar, primarily Euro, Singapore Dollar, Japanese Yen, Australian Dollar, and British Pound Sterling[246](index=246&type=chunk)[247](index=247&type=chunk) - Revenues denominated in U.S. Dollar were approximately **37%** of total revenues, and expenses in U.S. Dollar were approximately **49%** of total expenses for the quarter ended June 30, 2025[248](index=248&type=chunk) - A hypothetical **10%** increase in the U.S. Dollar against other currencies would result in an approximate **$1.6 million** decrease in income from operations for the quarter ended June 30, 2025[249](index=249&type=chunk) [Concentration of Credit Risk](index=52&type=section&id=Concentration%20of%20Credit%20Risk) Addresses the company's credit risk exposure related to cash deposits with financial institutions - The Company deposits cash with financial institutions, where balances may at times exceed federally insured limits[250](index=250&type=chunk) [Item 4. Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) This section reports on the effectiveness of AvePoint's disclosure controls and procedures and internal control over financial reporting as of June 30, 2025 [Evaluation of Disclosure Controls and Procedures](index=53&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) Concludes on the effectiveness of the company's disclosure controls and procedures as of June 30, 2025 - The CEO and CFO concluded that AvePoint's disclosure controls and procedures were effective as of June 30, 2025[253](index=253&type=chunk) - The condensed consolidated financial statements fairly present the financial position, results of operations, and cash flows in conformity with GAAP[254](index=254&type=chunk) [Changes in Internal Control Over Financial Reporting](index=53&type=section&id=Changes%20in%20Internal%20Control%20Over%20Financial%20Reporting) States that no material changes occurred in internal control over financial reporting during the quarter - No material changes occurred in internal control over financial reporting during the quarter ended June 30, 2025[255](index=255&type=chunk) [PART II. OTHER INFORMATION](index=54&type=section&id=PART%20II.%20OTHER%20INFORMATION) Contains additional information not covered in the financial statements, including legal proceedings and equity matters [Item 1. Legal Proceedings](index=54&type=section&id=Item%201.%20Legal%20Proceedings) This section states that AvePoint is not a party to any material asserted, ongoing, threatened, or pending claims, suits, assessments, proceedings, or other litigation, beyond those arising in the normal course of business, as of June 30, 2025 - As of June 30, 2025, the Company is not a party to any material legal proceedings beyond those in the normal course of business[257](index=257&type=chunk) [Item 1A. Risk Factors](index=54&type=section&id=Item%201A.%20Risk%20Factors) This section refers readers to the risk factors previously disclosed in the Company's Annual Report on Form 10-K and Quarterly Report on Form 10-Q for Q1 2025, noting no material changes to these risks - No material changes to the risk factors previously disclosed in the Annual Report and Q1 2025 10-Q[259](index=259&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=55&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section confirms no unregistered sales of equity securities during the quarter and provides details on the Company's share repurchase program, including shares bought back and remaining authorization - No unregistered sales of equity securities occurred during the quarter ended June 30, 2025[261](index=261&type=chunk) - The Board of Directors renewed the Share Repurchase Program, authorizing up to **$150 million** in common stock buybacks for an additional three years[262](index=262&type=chunk) Issuer Purchases of Equity Securities (Three Months Ended June 30, 2025) | Period | Total shares purchased | Average price paid per share | Approximate dollar value of shares that may yet be purchased | | :-------------------------------- | :--------------------- | :--------------------------- | :--------------------------------------------------------- | | April 1, 2025 - April 30, 2025 | 142,934 | $14.1443 | $136,346,900 | | May 1, 2025 - May 31, 2025 | 14,505 | $17.5561 | $136,092,249 | | June 1, 2025 - June 30, 2025 | 256,889 | $18.5760 | $131,320,274 | [Item 3. Defaults Upon Senior Securities](index=55&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section states that there were no defaults upon senior securities during the reporting period - No defaults upon senior securities occurred during the reporting period[265](index=265&type=chunk) [Item 4. Mine Safety Disclosures](index=55&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section indicates that mine safety disclosures are not applicable to the Company - Mine safety disclosures are not applicable to the Company[266](index=266&type=chunk) [Item 5. Other Information](index=56&type=section&id=Item%205.%20Other%20Information) This section provides information on Rule 10b5-1 trading arrangements adopted by executive officers and details subsequent events regarding the redemption of public warrants - Executive Chairman Xunkai Gong adopted a Rule 10b5-1 trading arrangement for the sale of up to **300,000 shares** of common stock until January 15, 2026[267](index=267&type=chunk) - CFO James Caci adopted a Rule 10b5-1 trading arrangement for the sale of up to **30,000 shares** of common stock until December 31, 2025[268](index=268&type=chunk) - Subsequent to June 30, 2025, AvePoint completed the redemption of all outstanding public warrants on July 11, 2025, after **758,100 warrants** were exercised for **$8.7 million** cash proceeds[270](index=270&type=chunk)[271](index=271&type=chunk) [Item 6. Exhibits](index=57&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with or incorporated by reference into the Quarterly Report on Form 10-Q, including certifications, XBRL documents, and the cover page interactive data file - Includes certifications from Principal Executive Officer and Principal Financial Officer, and Inline XBRL documents[275](index=275&type=chunk) [Signatures](index=58&type=section&id=Signatures) This section contains the required signatures of the registrant's Chief Executive Officer and Chief Financial Officer, certifying the report's submission - Report signed by **Tianyi Jiang** (Chief Executive Officer) and **James Caci** (Chief Financial Officer) on August 7, 2025[280](index=280&type=chunk)