AvePoint Announces First Quarter 2025 Financial Results

Core Insights - AvePoint reported strong financial results for the first quarter of 2025, with total revenue of $93.1 million, reflecting a 25% year-over-year growth, and SaaS revenue of $68.9 million, which is a 34% increase year-over-year [1][5][19] - The company aims to become the world's leading data management software company and is targeting a billion-dollar ARR by 2029, driven by AI-driven data management strategies [2][5] Financial Performance - Total revenue for Q1 2025 was $93.1 million, up 25% from Q1 2024, with SaaS revenue at $68.9 million, a 34% increase [1][5] - GAAP gross profit was $69.2 million, compared to $54.1 million in Q1 2024, with a non-GAAP gross profit of $69.8 million [5][19] - GAAP operating income was $3.3 million, a significant improvement from a loss of $(3.2) million in Q1 2024, while non-GAAP operating income was $13.4 million [5][19] - Cash and cash equivalents stood at $351.8 million as of March 31, 2025 [5][21] Key Performance Indicators - Annual Recurring Revenue (ARR) reached $345.5 million, representing a 26% year-over-year growth, with an adjusted growth of 28% when accounting for foreign exchange [5][19] - The dollar-based gross retention rate was 89%, while the dollar-based net retention rate was 111% [5][19] - The company completed the acquisition of Ydentic to enhance its offerings for Managed Service Providers (MSPs) [5][19] Business Highlights - AvePoint launched the next generation of AvePoint Elements to automate insights and secure data for MSPs [5][19] - New data security solutions for Google were released, expanding multi-cloud protection capabilities [5][19] - The existing Share Repurchase Program was renewed for an additional three years, allowing for the purchase of up to $150 million of common stock [5][19]