AvePoint Announces Fourth Quarter and Full Year 2024 Financial Results

Core Insights - AvePoint reported a full year SaaS revenue of $230.7 million, reflecting a 43% year-over-year growth, and a total revenue of$ 330.5 million, which is a 22% increase year-over-year [1][6] - The company’s CEO highlighted the growing demand for platform solutions that enhance data security and governance, particularly in the context of AI [2][6] - AvePoint's total Annual Recurring Revenue (ARR) reached $327.0 million, marking a 24% year-over-year growth [1][6] Financial Performance - Fourth quarter total revenue was$ 89.2 million, up 20% from Q4 2023, with SaaS revenue at $64.8 million, a 43% increase [6][18] - For the full year 2024, GAAP gross profit was$ 248.0 million, compared to $194.4 million in 2023, with a non-GAAP gross margin of 75.7% [6][18] - The company generated$ 88.9 million in cash from operations for the year, significantly up from $34.7 million in the previous year [6][21] Key Metrics - The dollar-based gross retention rate was 88%, while the dollar-based net retention rate was 110% [6][12] - AvePoint introduced first-to-market benchmarking capabilities for Microsoft 365 Copilot, enhancing insights into AI adoption [6][8] - The company was named to Forbes America's Best Companies List, recognizing its performance across various metrics [6][8] Outlook - For Q1 2025, the company expects total revenues between$ 87.8 million to $89.8 million, indicating a year-over-year growth of 18% to 21% [11] - For the full year 2025, total ARR is projected to be between$ 401.3 million to $407.3 million, reflecting a growth of 23% to 25% [11]