Financial Data and Key Metrics Changes - Total revenues in Q1 were $93.1 million, up 25% year over year, exceeding guidance [22] - SaaS revenue for Q1 was $68.9 million, representing year-over-year growth of 34% on a constant currency basis, comprising 74% of total revenues [22][23] - Gross profit for Q1 was $69.8 million, with a gross margin of 75%, an improvement from 74.1% in Q1 of 2024 [29] - Operating income for Q1 was $13.4 million, with an operating margin of 14.4%, compared to 8.9% in the prior year [30] Business Line Data and Key Metrics Changes - Term license and support revenue grew 12% in Q1, driven by large deals in the APAC region [23] - Maintenance revenue declined year over year, while service revenues grew 4% but decreased as a percentage of total revenues [23] - Combined SaaS and term license revenues grew 31% in Q1, indicating strong subscription revenue growth [23] Market Data and Key Metrics Changes - North America SaaS revenues grew 31% year over year, while EMEA and APAC saw growth rates of 36% and 40% respectively [24][25] - Total ARR at the end of Q1 was $345.5 million, representing year-over-year growth of 26% to 28% when adjusted for FX [26] - New ARR in Q1 was $18.5 million, representing organic growth of 57% year over year, the highest as a public company [26] Company Strategy and Development Direction - The company aims to become the world's leading data management software company, targeting $1 billion in ARR by 2029 [7] - Focus on integrated platforms to address converging challenges in data security, governance, and resilience [13][20] - Continued innovation in multi-cloud capabilities and AI-powered solutions to enhance customer value [14] Management's Comments on Operating Environment and Future Outlook - Management remains confident in navigating macroeconomic uncertainties, emphasizing the mission-critical nature of their solutions [8][20] - The demand environment has remained stable, with AI and security being top priorities for enterprises [38] - The company is cautious about potential geopolitical risks impacting the second half of the year while maintaining a strong pipeline [33] Other Important Information - The company ended Q1 with $351.8 million in cash and equivalents, including $87.3 million from warrant exercises [31] - Free cash flow was negative $1 million, primarily due to one-time tax payments [31] - The company repurchased 800,000 shares for approximately $12 million in Q1 [32] Q&A Session Summary Question: Changes in demand environment - Management indicated that the demand environment has remained stable, with no significant changes in customer hesitation or sales cycles [38] Question: Competitive environment and data governance - Management noted that data governance is a key driver for new customer acquisitions, especially as enterprises prepare for AI deployment [40] Question: Momentum in the MSP segment - The company remains optimistic about the MSP segment, which accounted for 14% of total ARR and grew 60% annually from 2020 to 2024 [47] Question: License outperformance in the quarter - The outperformance in license revenue was attributed to a combination of large deals and favorable timing dynamics [75] Question: AI implementation among customers - Management confirmed that AI implementation has not slowed down, with a sense of urgency among businesses to adopt AI solutions [80]

Financial Performance - Total revenue for the three months ended March 31, 2025, was $93,064,000, representing a 25% increase from $74,534,000 in the same period of 2024[19] - SaaS revenue increased to $68,942,000, up 34.5% from $51,311,000 year-over-year[19] - Net income for the quarter was $3,566,000, compared to a net loss of $1,954,000 in the prior year[19] - Gross profit for the quarter was $69,165,000, resulting in a gross margin of approximately 74.3%[19] - Operating expenses totaled $65,878,000, an increase of 15% from $57,293,000 in the previous year[19] - The company reported a basic net income per share of $0.02 for the quarter, compared to a loss of $0.01 per share in the same quarter of the previous year[19] - Total comprehensive income for the three months ended March 31, 2025, was $4,702,000, compared to a loss of $2,532,000 in the prior year[22] - The company reported other income, net of $1,586,000 for Q1 2025, down from $3,404,000 in Q1 2024[137] Cash and Assets - Cash and cash equivalents increased to $351,481,000 as of March 31, 2025, up from $290,735,000 at the end of 2024[17] - Total assets grew to $598,848,000, a 15.3% increase from $519,055,000 at the end of 2024[17] - Total current assets increased to $446,639,000 as of March 31, 2025, up from $394,795,000 at the end of 2024[17] - Cash and cash equivalents at the end of the period were $351,481,000, an increase of $60,746,000 from $290,735,000 at the beginning of the period[27] - The company reported total cash equivalents and short-term investments of $189.412 million as of March 31, 2025, compared to $187.106 million as of December 31, 2024[124] Stockholders' Equity - Total stockholders' equity rose to $361,453,000, compared to $270,948,000 at the end of 2024, reflecting a 33.4% increase[17] - Total stockholders' equity increased to $361,453,000 as of March 31, 2025, up from $270,948,000 at the end of 2024, reflecting a growth of approximately 33.5%[24] - The company had 203,030,980 shares of common stock issued and outstanding, an increase from 194,070,512 shares as of December 31, 2024, representing a growth of approximately 4.9%[103] Liabilities and Expenses - AvePoint's total liabilities decreased to $877,000,000 as of March 31, 2025, down from $883,000,000 at the end of 2024, showing a reduction of approximately 0.7%[24] - Operating expenses rose to $65,878,000, up 15% from $57,293,000 year-over-year, primarily driven by increased sales and marketing expenses[19] - The company incurred stock-based compensation expenses of $9,620,000 for the three months ended March 31, 2025, slightly up from $9,458,000 in the prior year[27] - Total lease costs for the three months ended March 31, 2025, were $2.621 million, an increase from $2.122 million in the same period of 2024, reflecting a rise of approximately 23.6%[78] Acquisitions and Investments - The company completed the acquisition of 80% of Ydentic for an estimated fair value of $20.4 million, consisting of $14.9 million in cash and a $5.5 million unconditional purchase obligation[56] - Goodwill increased to $36.8 million as of March 31, 2025, from $17.7 million as of December 31, 2024, primarily due to the Ydentic acquisition[68] - The company plans to acquire the remaining interest in MaivenPoint for approximately $11.6 million in cash, enhancing its market position[143] - The preliminary fair value of intangible assets acquired in the Ydentic acquisition was estimated at $2.8 million, with a weighted average life of 4.2 years[63] - The company established a growth equity fund with Lumens Capital Partners Ltd., committing $50 million for portfolio investments, with no portion called as of March 31, 2025[107][109] Revenue by Region - North America generated $36,452,000 in revenue for Q1 2025, up 22% from $29,895,000 in Q1 2024[135] - EMEA revenue increased by 29% to $29,484,000 in Q1 2025 from $22,806,000 in Q1 2024[135] - APAC revenue rose to $27,128,000 in Q1 2025, a 24% increase from $21,833,000 in Q1 2024[135] Tax and Compliance - The effective tax rate for the three months ended March 31, 2025, was 26.8%, a significant decrease from 1062.6% for the same period in 2024, primarily due to changes in pre-tax income mix and other factors[74] - The Company has a revolving line of credit of up to $30.0 million with HSBC, with no borrowings outstanding as of March 31, 2025, and compliance with all covenants under the line[73] Other Financial Metrics - AvePoint's operating cash flow for the three months ended March 31, 2025, was $495,000, a decrease from $7,756,000 in the same period of 2024[27] - The company recognized term license revenue of $7.2 million for the three months ended March 31, 2025, up from $5.6 million for the same period in 2024, representing a year-over-year increase of approximately 28.6%[43] - The company experienced a foreign currency translation adjustment gain of $1,148,000, compared to a loss of $478,000 in the prior year[22] - The company reported a foreign currency remeasurement loss of $540,000 for the three months ended March 31, 2025, compared to a loss of $580,000 in the same period of 2024[27]

[Financial & Business Highlights](index=1&type=section&id=First%20Quarter%202025%20Financial%20Highlights) AvePoint reported strong Q1 2025 financial results, achieving significant revenue and SaaS growth, and improved GAAP operating income Q1 2025 Key Financial Metrics (YoY) | Metric | Q1 2025 ($M) | YoY Growth | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | Total Revenue | $93.1M | 25% | 27% | | SaaS Revenue | $68.9M | 34% | 37% | | Total ARR | $345.5M | 26% | 28% | | GAAP Operating Income | $3.3M | N/A (vs. $(3.2)M loss) | N/A | | Non-GAAP Operating Income | $13.4M | 103% | N/A | Q1 2025 Key Performance Indicators | Indicator | As-Reported | Adjusted for FX | | :--- | :--- | :--- | | Dollar-based Gross Retention Rate | 88% | 89% | | Dollar-based Net Retention Rate | 111% | 111% | - Key strategic initiatives in Q1 2025 included: - **Acquisition:** Completed the acquisition of Ydentic to enhance its AI-driven platform for Managed Service Providers (MSPs) - **Product Launch:** Launched the next generation of AvePoint Elements to help MSPs automate insights and secure data - **Platform Expansion:** Released new data security solutions for Google, expanding multi-cloud protection capabilities - **Capital Allocation:** Renewed the Share Repurchase Program for an additional three years, authorizing up to **$150.0 million** in buybacks[5](index=5&type=chunk)[6](index=6&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) AvePoint issued Q2 2025 guidance and raised its full-year 2025 outlook, reflecting strong Q1 performance and FX tailwinds Q2 2025 Guidance | Metric | Guidance Range ($M) | YoY Growth (Reported) | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | Total Revenue | $95.3M - $97.3M | 22% - 25% | 20% - 22% | | Non-GAAP Operating Income | $13.2M - $14.2M | N/A | N/A | Full Year 2025 Updated Guidance | Metric | Guidance Range ($M) | YoY Growth (Reported) | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | Total ARR | $411.8M - $417.8M | 26% - 28% | 24% - 26% | | Total Revenue | $397.4M - $405.4M | 20% - 23% | 18% - 20% | | Non-GAAP Operating Income | $61.4M - $64.4M | N/A | N/A | - The updated full-year guidance incorporates both the first quarter's outperformance and incremental foreign exchange tailwinds[7](index=7&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) Consolidated financial statements detail AvePoint's Q1 2025 financial position, highlighting profitability, balance sheet strength, and significant financing cash inflows [Condensed Consolidated Statements of Income (Loss)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Loss)) AvePoint reported a net income of $3.6 million in Q1 2025, a significant turnaround from a prior-year loss, driven by robust revenue growth Q1 Income Statement Highlights (in thousands) | Metric | Q1 2025 ($ thousands) | Q1 2024 ($ thousands) | | :--- | :--- | :--- | | SaaS Revenue | $68,942 | $51,311 | | Total Revenue | $93,064 | $74,534 | | Gross Profit | $69,165 | $54,092 | | Income (loss) from operations | $3,287 | $(3,201) | | Net income (loss) | $3,566 | $(1,954) | | Diluted EPS | $0.02 | $(0.01) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, AvePoint's balance sheet showed a strong financial position with increased assets, cash, and equity Balance Sheet Highlights (in thousands) | Metric | March 31, 2025 ($ thousands) | December 31, 2024 ($ thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $351,481 | $290,735 | | Total Assets | $598,848 | $519,055 | | Total Liabilities | $237,395 | $248,107 | | Total Stockholders' Equity | $361,453 | $270,948 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased to $0.5 million, while financing activities provided a significant $76.2 million inflow, primarily from warrant exercises Cash Flow Summary (in thousands) | Activity | Three Months Ended Mar 31, 2025 ($ thousands) | Three Months Ended Mar 31, 2024 ($ thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $495 | $7,756 | | Net cash used in investing activities | $(16,859) | $(1,542) | | Net cash provided by (used in) financing activities | $76,181 | $(12,961) | | Net increase (decrease) in cash | $60,746 | $(7,673) | [Non-GAAP Financial Measures & Key Metrics](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Other%20Key%20Metrics) AvePoint presents non-GAAP financial measures, excluding certain expenses, and defines key operational metrics like ARR and retention rates GAAP to Non-GAAP Operating Income Reconciliation (in thousands) | Line Item | Q1 2025 ($ thousands) | Q1 2024 ($ thousands) | | :--- | :--- | :--- | | GAAP operating income (loss) | $3,287 | $(3,201) | | Stock-based compensation expense | $9,620 | $9,458 | | Amortization of acquired intangible assets | $466 | $353 | | **Non-GAAP operating income** | **$13,373** | **$6,610** | GAAP to Non-GAAP Gross Profit Reconciliation (in thousands) | Line Item | Q1 2025 ($ thousands) | Q1 2024 ($ thousands) | | :--- | :--- | :--- | | GAAP gross profit | $69,165 | $54,092 | | Stock-based compensation expense | $342 | $871 | | Amortization of acquired intangible assets | $333 | $241 | | **Non-GAAP gross profit** | **$69,840** | **$55,204** | - Key metrics definitions: - **Annual Recurring Revenue (ARR):** The annualized sum of contractually obligated Annual Contract Value (ACV) from all active customers - **Dollar-based Gross Retention Rate:** Measures the ability to retain ARR from existing customers over a 12-month period - **Dollar-based Net Retention Rate:** Measures the ability to retain and expand ARR from existing customers over a 12-month period[12](index=12&type=chunk)[13](index=13&type=chunk)[14](index=14&type=chunk)

First quarter SaaS revenue of $68.9 million, representing 34% year-over-year growth, 37% on a constant currency basisFirst quarter Total revenue of $93.1 million, representing 25% year-over-year growth, 27% on a constant currency basisTotal ARR of $345.5 million, representing 26% year-over-year growth, 28% adjusted for FX JERSEY CITY, N.J., May 08, 2025 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the global leader in data security, governance and resilience, today announced financial results for the first ...

JERSEY CITY, N.J., May 05, 2025 (GLOBE NEWSWIRE) -- AvePoint (Nasdaq: AVPT), the global leader in data security, governance and resilience, today announced that members of the Company’s executive management team will present at the following investor conferences:  TD Cowen 53rd Annual Technology, Media & Telecom Conference (New York, NY): Thursday, 5/29 at 2:25 pm ET Jefferies Public Technology Conference (Newport Coast, CA): Thursday, 5/29 at 10:30am PT In addition, AvePoint will attend the following inves ...

The latest innovations to AvePoint Elements reflect the continued evolution of the platform to expand business for MSPs, enhance cybersecurity solutions, and drive AI confidence for their customers JERSEY CITY, N.J., April 22, 2025 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the global leader in data security, governance and resilience, today announced new capabilities available in the AvePoint Elements Platform, empowering managed service providers (MSPs) to simplify user lifecycle management and unify de ...

Core Insights - AvePoint has launched the Risk Posture Command Center within its Confidence Platform to enhance data security posture management for organizations [1][3] - The new Command Center aims to simplify the complex data landscape organizations face, providing immediate visibility and actionable recommendations [3][4] Group 1: Product Features - The Risk Posture Command Center offers an intuitive interface that delivers insights into an organization's risk posture and provides actionable recommendations [3] - Key features include early threat detection for ransomware, a unified view of data protection status, compliance insights, and visual representations of the data landscape [8] Group 2: Market Context - 86% of organizations struggle to balance data security needs with business objectives, and 47% of IT leaders lack confidence in managing security and access risks [2] - AvePoint's solutions aim to address these challenges by breaking down silos between technical teams and business leadership, creating a universal language of data intelligence [6] Group 3: Strategic Vision - The introduction of the Risk Posture Command Center is part of AvePoint's broader strategy to transform data complexity into a strategic advantage, driving innovation and reducing risk for organizations [4][6] - The Command Centers are positioned as strategic transformation engines that can influence board-level strategy by turning raw data into narratives of organizational health and risk management [6]

Core Viewpoint - AvePoint, a leader in data security, governance, and resilience, is set to report its Q1 2025 financial results on May 8, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results for Q1 2025 will be reported after the US financial markets close on May 8, 2025 [1] - A conference call will be held at 4:30 PM ET on the same day, featuring CEO Dr. Tianyi Jiang and CFO Jim Caci [2] - The call will include an overview of the results, discussion of current business trends, and a Q&A session [2] Group 2: Access to Information - Participants can access the conference call by dialing specific numbers for US and international participants, with a passcode provided [2] - A live webcast of the call will be available on AvePoint's Investor Relations website, with a replay accessible for approximately 90 days [3] Group 3: Company Overview - AvePoint serves over 25,000 customers globally, providing solutions that ensure a robust data foundation for collaboration across platforms like Microsoft, Google, and Salesforce [4] - The company has a global channel partner program with around 5,000 managed service providers and resellers, making its solutions available in over 100 cloud marketplaces [4]

Financial Data and Key Metrics Changes - Total ARR growth accelerated to 24% year-over-year, and was 25% when adjusted for foreign exchange [31] - Net new ARR growth was 30% year-over-year, just shy of the record 31% growth delivered in Q3 [31] - Q4 total revenues were $89.2 million, representing year-over-year growth of 20% [35] - SaaS revenue for Q4 was $64.8 million, growing 43% year-over-year and representing 73% of total Q4 revenues [36] - Non-GAAP operating margin for Q4 was 16.2%, a meaningful improvement from a year ago [34][44] Business Line Data and Key Metrics Changes - SaaS revenues grew 43% year-over-year, while term license and support declined to $9.4 million, representing 11% of Q4 revenues [36] - Maintenance revenue, tied to legacy perpetual licenses, also declined year-over-year and represented 3% of total Q4 revenues [37] - Services revenue was $12.2 million, representing 14% of total Q4 revenues [37] Market Data and Key Metrics Changes - In North America, SaaS revenues grew 46% year-over-year, representing 77% of total North America revenues [38] - In EMEA, SaaS revenues grew 37% year-over-year, representing 86% of total EMEA revenues [38] - In APAC, SaaS revenues grew 50% year-over-year, representing 52% of total APAC revenues [38] Company Strategy and Development Direction - The company aims to become the world's leading data management software company, focusing on durable, profitable growth at scale [8][9] - The "Beyond Secure" philosophy addresses traditional data management inadequacies, promoting a holistic approach to data security, governance, and resilience [27][28] - The strategic acquisition of Ydentic aims to enhance automation and IT management capabilities for Microsoft Managed Services Providers [28] Management's Comments on Operating Environment and Future Outlook - Management highlighted the growing demand for data management solutions amid digital transformations and the need for data modernization [10][15] - The company is optimistic about the future, with expectations of continued strong performance and market opportunities [30][54] - Management acknowledged the competitive landscape but expressed confidence in their platform's differentiation and ability to capture market share [78] Other Important Information - The company ended Q4 with $290.9 million in cash and short-term investments, with cash generated from operations reaching $88.9 million for the year [46] - Full-year 2024 results showed total revenues of $330.5 million, representing growth of 22% [48] - The company repurchased approximately 3.3 million shares for a total cost of $33.1 million during the year [50] Q&A Session Summary Question: What is the U.S. Federal exposure and outlook? - The company's federal business exposure is around 2% of total ARR, with ongoing discussions about digital transformation and AI readiness with agencies [58][59] Question: What is causing the gap between ARR growth and revenue growth in 2025? - The gap is influenced by foreign exchange impacts and a shift in revenue mix, particularly the decline of term license revenue [60][93] Question: How have price increases impacted ARR and NRR in 2024? - Price increases across multiple products had a small impact on overall NRR growth, which is primarily driven by customers consuming more of the platform [68] Question: How significant is the expansion into Google environments? - The expansion into Google includes risk intelligence and lifecycle management, enhancing the company's position as a strategic partner for multi-cloud customers [72] Question: How is the competitive environment evolving in data security posture management? - The competitive landscape remains strong, but the company is confident in its platform approach and ability to expand into mid-market segments [78] Question: What are the integration goals with the Ydentic acquisition? - The acquisition aims to enhance managed services offerings and expand into SMB and medium-sized customers efficiently [82][85] Question: What is the outlook for cash flow and operating income margins in 2025? - The company expects improvement in cash flow but acknowledges that margin expansion may flatten as investments are made for long-term growth [138]

Financial Data and Key Metrics Changes - Total ARR growth accelerated to 24% year-over-year, and 25% when adjusted for foreign exchange [31][40] - Total revenues for Q4 were $89.2 million, representing year-over-year growth of 20% [35] - Non-GAAP operating margin for Q4 was 16.2%, a significant improvement from the previous year [44][50] - Cash generated from operations for the full year was $88.9 million, with free cash flow of $85.9 million, more than doubling the previous year's figures [46] Business Line Data and Key Metrics Changes - SaaS revenue for Q4 was $64.8 million, growing 43% year-over-year and representing 73% of total Q4 revenues [36] - Term license and support revenue declined to $9.4 million, representing 11% of Q4 revenues [37] - Maintenance revenue also declined year-over-year, representing 3% of total Q4 revenues [37] Market Data and Key Metrics Changes - In North America, SaaS revenues grew 46% year-over-year, while EMEA and APAC saw growth rates of 37% and 50% respectively [38] - North America ARR grew 21%, EMEA ARR grew 24%, and APAC ARR grew 29% [39][40] Company Strategy and Development Direction - The company aims to become the world's leading data management software company, focusing on durable, profitable growth at scale [8][9] - The "Beyond Secure" philosophy addresses traditional data management inadequacies, promoting a comprehensive approach to data security and governance [27][28] - The strategic acquisition of Ydentic aims to enhance automation and IT management capabilities for Microsoft Managed Services Providers [28][82] Management's Comments on Operating Environment and Future Outlook - Management highlighted the growing demand for data management solutions amid digital transformations and AI adoption [10][17] - The company is positioned to capitalize on the urgent need for data modernization and governance as businesses navigate complex regulatory environments [15][18] - Management expressed confidence in the demand environment and plans to invest in sales, marketing, and R&D for long-term growth [100][101] Other Important Information - The company ended Q4 with $290.9 million in cash and short-term investments [45] - The full-year 2024 results showed total revenues of $330.5 million, representing growth of 22% [48] Q&A Session Summary Question: What is the U.S. Federal exposure and outlook? - The company's federal business exposure is around 2% of total ARR, with ongoing discussions about digital transformation and AI readiness with agencies [58][59] Question: What is causing the gap between ARR growth and revenue growth in 2025? - The gap is influenced by foreign exchange impacts and a shift in revenue mix, particularly the decline in term license revenue [60][92] Question: How are pricing changes impacting ARR and NRR? - The primary driver for NRR growth is customers consuming more of the platform, with price increases contributing minimally [67][68] Question: What is the significance of the new data security solutions for Google? - The expansion into Google enhances the company's multi-cloud capabilities, positioning it as a strategic partner for customers [72] Question: How is the competitive environment evolving in data security posture management? - The market remains competitive, but the company is confident in its platform approach and ability to expand into mid-market segments [78] Question: What are the integration goals for the Ydentic acquisition? - The acquisition aims to enhance managed services offerings and expand into SMB and medium-sized customers [82][84] Question: What are the expectations for seasonality in the next fiscal year? - Seasonality is expected to remain similar to previous years, with Q1 typically being the lowest ARR quarter [113][115]