AvePoint(AVPT) - 2024 Q4 - Annual Results

Revenue Growth - Full year SaaS revenue reached $230.7 million, representing a 43% year-over-year growth[1] - Total revenue for the full year was $330.5 million, reflecting a 22% year-over-year growth[1] - Total ARR as of December 31, 2024, was $327.0 million, indicating a 24% year-over-year growth[6] - Fourth quarter total revenue was $89.2 million, up 20% from the fourth quarter of 2023[6] - Fourth quarter SaaS revenue was $64.8 million, up 43% from the fourth quarter of 2023[6] - The company expects total revenues for 2025 to be between $380.0 million and $388.0 million, representing a year-over-year growth of 15% to 17%[10] Profitability and Loss - GAAP operating income for the full year was $7.2 million, compared to a GAAP operating loss of $(15.4) million for the full year 2023[6] - Net loss for the year ended December 31, 2024, was $29.142 million, compared to a net loss of $21.501 million in 2023[21] - GAAP operating income for Q4 2024 was $4,853 million, compared to a loss of $15,351 million in 2023[23] - Non-GAAP operating income increased to $14,461 million in Q4 2024, up from $10,301 million in Q4 2023, representing a growth of 40.9%[23] Cash and Investments - Cash and short-term investments totaled $290.9 million as of December 31, 2024[6] - Cash and cash equivalents increased to $290.735 million as of December 31, 2024, from $223.162 million in 2023[19] - Net cash provided by operating activities for the year ended December 31, 2024, was $88.894 million, significantly higher than $34.694 million in 2023[21] Expenses - Operating expenses for the year ended December 31, 2024, totaled $240.790 million, an increase from $209.716 million in 2023[17] - Research and development expenses increased to $48.699 million for the year ended December 31, 2024, from $36.340 million in 2023[17] - GAAP research and development expenses for Q4 2024 were $12,872 million, compared to $9,409 million in Q4 2023, indicating a year-over-year increase of 36.1%[23] - Total stock-based compensation expense for the year ended December 31, 2024, was $39,059 million, compared to $36,048 million in 2023[23] Gross Profit and Margins - Non-GAAP gross margin for the full year was 75.7%, compared to 73.0% for the full year 2023[6] - The company reported a gross profit of $67.262 million for the three months ended December 31, 2024, compared to $55.006 million in the same period of 2023[17] - GAAP gross profit for the year ended December 31, 2024, was $247,956 million, an increase from $194,365 million in 2023[23] - Non-GAAP gross profit for the year ended December 31, 2024, reached $250,232 million, up from $198,490 million in 2023, reflecting a growth of 26.1%[23] - Non-GAAP operating margin improved to 16.2% in Q4 2024, compared to 13.8% in Q4 2023[23] Retention and Performance Metrics - The dollar-based net retention rate was 110% on an as-reported basis[6] - Non-GAAP sales and marketing expenses as a percentage of revenue decreased to 33.7% in Q4 2024 from 35.9% in Q4 2023[23] - Non-GAAP research and development expenses as a percentage of revenue were 12.0% in Q4 2024, up from 11.0% in Q4 2023[23] - Non-GAAP general and administrative expenses as a percentage of revenue decreased to 13.6% in Q4 2024 from 14.5% in Q4 2023[23] Assets and Shares - Total assets as of December 31, 2024, were $519.055 million, up from $442.582 million in 2023[19] - The weighted average shares outstanding for the year ended December 31, 2024, were 183,721, compared to 182,257 in 2023[17]