AvePoint Announces Fourth Quarter and Full Year 2024 Financial Results
AvePoint (NASDAQ: AVPT) reported strong financial results for Q4 and full year 2024. The company achieved full-year SaaS revenue of $230.7M (43% YoY growth) and total revenue of $330.5M (22% YoY growth). Total ARR reached $327.0M, showing 24% YoY growth.
Q4 2024 highlights include total revenue of $89.2M (20% YoY growth) and SaaS revenue of $64.8M (43% YoY growth). The company maintained strong profitability with non-GAAP gross margin of 75.5% and operating income of $14.5M.
For 2025, AvePoint projects total ARR between $401.3M-$407.3M (23-25% YoY growth) and total revenues of $380.0M-$388.0M (15-17% YoY growth).
AvePoint (NASDAQ: AVPT) ha riportato risultati finanziari solidi per il Q4 e l'intero anno 2024. L'azienda ha raggiunto un fatturato SaaS annuale di 230,7 milioni di dollari (crescita del 43% su base annua) e un fatturato totale di 330,5 milioni di dollari (crescita del 22% su base annua). L'ARR totale ha raggiunto 327,0 milioni di dollari, mostrando una crescita del 24% su base annua.
I punti salienti del Q4 2024 includono un fatturato totale di 89,2 milioni di dollari (crescita del 20% su base annua) e un fatturato SaaS di 64,8 milioni di dollari (crescita del 43% su base annua). L'azienda ha mantenuto una forte redditività con un margine lordo non-GAAP del 75,5% e un reddito operativo di 14,5 milioni di dollari.
Per il 2025, AvePoint prevede un ARR totale compreso tra 401,3 milioni e 407,3 milioni di dollari (crescita del 23-25% su base annua) e fatturati totali tra 380,0 milioni e 388,0 milioni di dollari (crescita del 15-17% su base annua).
AvePoint (NASDAQ: AVPT) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. La compañía logró ingresos anuales de SaaS de 230,7 millones de dólares (crecimiento del 43% interanual) y ingresos totales de 330,5 millones de dólares (crecimiento del 22% interanual). El ARR total alcanzó 327,0 millones de dólares, mostrando un crecimiento del 24% interanual.
Los aspectos destacados del cuarto trimestre de 2024 incluyen ingresos totales de 89,2 millones de dólares (crecimiento del 20% interanual) e ingresos de SaaS de 64,8 millones de dólares (crecimiento del 43% interanual). La compañía mantuvo una fuerte rentabilidad con un margen bruto no-GAAP del 75,5% y un ingreso operativo de 14,5 millones de dólares.
Para 2025, AvePoint proyecta un ARR total entre 401,3 millones y 407,3 millones de dólares (crecimiento del 23-25% interanual) y ingresos totales de 380,0 millones a 388,0 millones de dólares (crecimiento del 15-17% interanual).
AvePoint (NASDAQ: AVPT)는 2024년 4분기 및 연간 강력한 재무 결과를 보고했습니다. 이 회사는 230.7백만 달러의 연간 SaaS 수익 (전년 대비 43% 성장)과 330.5백만 달러의 총 수익 (전년 대비 22% 성장)을 달성했습니다. 총 ARR은 327.0백만 달러에 도달하여 전년 대비 24% 성장했습니다.
2024년 4분기 주요 내용은 총 수익 89.2백만 달러 (전년 대비 20% 성장)와 SaaS 수익 64.8백만 달러 (전년 대비 43% 성장)입니다. 이 회사는 비-GAAP 총 마진 75.5%와 운영 수익 14.5백만 달러로 강력한 수익성을 유지했습니다.
2025년을 위해 AvePoint는 총 ARR을 401.3백만 달러에서 407.3백만 달러 사이 (전년 대비 23-25% 성장)로, 총 수익을 380.0백만 달러에서 388.0백만 달러 사이 (전년 대비 15-17% 성장)로 예상하고 있습니다.
AvePoint (NASDAQ: AVPT) a annoncé des résultats financiers solides pour le quatrième trimestre et l'année complète 2024. L'entreprise a réalisé un chiffre d'affaires SaaS annuel de 230,7 millions de dollars (croissance de 43% d'une année sur l'autre) et un chiffre d'affaires total de 330,5 millions de dollars (croissance de 22% d'une année sur l'autre). Le chiffre d'affaires récurrent annuel total a atteint 327,0 millions de dollars, affichant une croissance de 24% d'une année sur l'autre.
Les faits marquants du quatrième trimestre 2024 comprennent un chiffre d'affaires total de 89,2 millions de dollars (croissance de 20% d'une année sur l'autre) et un chiffre d'affaires SaaS de 64,8 millions de dollars (croissance de 43% d'une année sur l'autre). L'entreprise a maintenu une forte rentabilité avec une marge brute non-GAAP de 75,5% et un revenu opérationnel de 14,5 millions de dollars.
Pour 2025, AvePoint prévoit un ARR total compris entre 401,3 millions et 407,3 millions de dollars (croissance de 23-25% d'une année sur l'autre) et des revenus totaux de 380,0 millions à 388,0 millions de dollars (croissance de 15-17% d'une année sur l'autre).
AvePoint (NASDAQ: AVPT) hat starke Finanzergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Das Unternehmen erzielte einen jährlichen SaaS-Umsatz von 230,7 Millionen Dollar (43% Wachstum im Jahresvergleich) und einen Gesamtumsatz von 330,5 Millionen Dollar (22% Wachstum im Jahresvergleich). Der gesamte ARR erreichte 327,0 Millionen Dollar, was einem Wachstum von 24% im Jahresvergleich entspricht.
Die Highlights des vierten Quartals 2024 umfassen einen Gesamtumsatz von 89,2 Millionen Dollar (20% Wachstum im Jahresvergleich) und einen SaaS-Umsatz von 64,8 Millionen Dollar (43% Wachstum im Jahresvergleich). Das Unternehmen hielt eine starke Rentabilität mit einer Non-GAAP-Bruttomarge von 75,5% und einem operativen Einkommen von 14,5 Millionen Dollar aufrecht.
Für 2025 prognostiziert AvePoint einen Gesamt-ARR zwischen 401,3 Millionen und 407,3 Millionen Dollar (23-25% Wachstum im Jahresvergleich) und Gesamtumsätze zwischen 380,0 Millionen und 388,0 Millionen Dollar (15-17% Wachstum im Jahresvergleich).
- SaaS revenue grew 43% YoY to $230.7M
- Total ARR increased 24% YoY to $327.0M
- Non-GAAP gross margin improved to 75.7% from 73.0%
- Operating cash flow increased to $88.9M from $34.7M YoY
- Strong cash position of $290.9M
- Turned GAAP operating loss into $7.2M profit
- Dollar-based gross retention rate declined to 88%
- Expected revenue growth slowdown to 15-17% in 2025 vs 22% in 2024
Insights
AvePoint's Q4 and full-year 2024 results showcase a company successfully executing its transition to a SaaS-focused business model while delivering substantial growth and profitability improvements. The 43% year-over-year growth in SaaS revenue to
The company's profitability metrics tell an impressive story of operational leverage. AvePoint swung from a
Customer metrics reveal both strengths and potential areas for improvement. The dollar-based net retention rate of 111% indicates successful upselling and cross-selling to existing customers, while the gross retention rate of 89% suggests reasonable but not exceptional customer stickiness. AvePoint's ARR growth of
The company's strategic investments in AI capabilities, including benchmarking for Microsoft 365 Copilot and the new AI Lab in Singapore, position AvePoint to capitalize on growing enterprise demand for AI-ready data governance solutions. With
The 2025 guidance projects continued strong growth, with ARR expected to reach
AvePoint's 2024 results reveal a company successfully capitalizing on the convergence of two critical enterprise trends: the shift to cloud-based data management and the growing need for AI-ready data governance. Their 43% SaaS revenue growth significantly outpacing overall revenue growth indicates strong market validation of their cloud platform strategy within the Microsoft ecosystem and beyond.
The company's strategic focus on AI-enabling technologies is particularly well-timed. Their new benchmarking capabilities for Microsoft 365 Copilot address a critical enterprise need: measuring ROI and governance of generative AI investments. As organizations struggle with AI implementation challenges, AvePoint is positioning itself as an essential bridge between raw enterprise data and productive AI applications. The Singapore AI Lab establishment signals a deeper commitment to embedding AI throughout their platform, potentially creating both product differentiation and internal operational efficiencies.
AvePoint's competitive position within the Microsoft data management ecosystem appears increasingly strong. While competitors like Veeam, Commvault, and Rubrik also address data protection, AvePoint's specialized focus on governance and compliance for Microsoft workloads creates a differentiated value proposition. Their recognition in the Forbes America's Best Companies List suggests operational excellence that likely contributes to their improving efficiency metrics.
The dollar-based net retention rate of 111% is particularly significant in the context of their product strategy. This metric indicates customers are expanding their AvePoint footprint after initial deployment, validating both the platform approach and cross-sell strategy. The slightly lower gross retention rate (
AvePoint's
As enterprises increasingly recognize that effective AI deployment requires well-governed, secure data foundations, AvePoint's platform approach positions them to capture expanding wallet share in this high-growth intersection of data governance and AI enablement.
Full year SaaS revenue of
Full year Total revenue of
Total ARR of
JERSEY CITY, N.J., Feb. 27, 2025 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the global leader in data security, governance and resilience, today announced financial results for the fourth quarter and full year ended December 31, 2024.
“Our fourth quarter was an outstanding close to 2024, and we are pleased with the team’s steady focus and broad-based execution,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “Our results this year – as well as our outlook for 2025 – reflect the growing demand from companies around the world for platform solutions that enable them to prepare, secure and optimize their data for AI, as well as our ongoing improvement in effectively and efficiently delivering on that demand. Today, AvePoint stands at the forefront of addressing the pivotal challenges in data security, governance, and resilience, and we are excited for the many opportunities we see in 2025 and beyond to continue driving shareholder value.”
Fourth Quarter 2024 Financial Highlights
- Revenue: Total revenue was
$89.2 million , up20% from the fourth quarter of 2023 and up20% on a constant currency basis. Within total revenue, SaaS revenue was$64.8 million , up43% from the fourth quarter of 2023 and up44% on a constant currency basis. - Gross Profit: GAAP gross profit was
$67.3 million , compared to$55.0 million for the fourth quarter of 2023. Non-GAAP gross profit was$67.3 million , compared to$56.1 million for the fourth quarter of 2023. Non-GAAP gross margin was75.5% , compared to75.2% for the fourth quarter of 2023. - Operating Income/(Loss): GAAP operating income was
$4.9 million , compared to$0.9 million for the fourth quarter of 2023. Non-GAAP operating income was$14.5 million , compared to$10.3 million for the fourth quarter of 2023.
Full Year 2024 Financial Highlights
- Revenue: Total revenue was
$330.5 million , up22% from the full year 2023 and up22% on a constant currency basis. Within total revenue, SaaS revenue was$230.7 million , up43% from the full year 2023 and up44% on a constant currency basis. - Gross Profit: GAAP gross profit was
$248.0 million , compared to$194.4 million for the full year 2023. Non-GAAP gross profit was$250.2 million , compared to$198.5 million for the full year 2023. Non-GAAP gross margin was75.7% , compared to73.0% for the full year 2023. - Operating Income/(Loss): GAAP operating income was
$7.2 million , compared to a GAAP operating loss of$(15.4) million for the full year 2023. Non-GAAP operating income was$47.6 million , compared to$22.2 million for the full year 2023. - Cash and short-term investments:
$290.9 million as of December 31, 2024. - Cash from operations: For the twelve months ended December 31, 2024, the Company generated
$88.9 million of cash from operations, compared to$34.7 million in the prior year period.
Fourth Quarter 2024 Key Performance Indicators and Recent Business Highlights
- ARR as of December 31, 2024 was
$327.0 million , representing growth of24% year-over-year. Adjusted for FX, ARR grew25% year-over-year. - Adjusted for FX, dollar-based gross retention rate was
89% , while dollar-based net retention rate was111% . On an as-reported basis, dollar-based gross retention rate was88% , while dollar-based net retention rate was110% . - Introduced first-to-market benchmarking capabilities within AvePoint tyGraph for Microsoft 365 Copilot to provide organizations critical insights into their AI adoption and usage patterns.
- Announced the launch of AvePoint’s AI Lab in Singapore, to advance AI-driven research and innovation that will address global industry challenges and embed AI across the AvePoint Confidence Platform.
- Named to the inaugural Forbes America’s Best Companies List, which recognizes the top 300 companies in the U.S. across over 60 measures, including financial performance, customer and employee satisfaction, cybersecurity, and more.
Financial Outlook
For the first quarter of 2025, the Company expects:
- Total revenues of
$87.8 million to$89.8 million , or year-over-year growth of18% to21% . On a constant currency basis, the Company expects revenue growth of19% to22% . - Non-GAAP operating income of
$11.1 million to$12.1 million .
For the full year 2025, the Company expects:
- Total ARR of
$401.3 million to$407.3 million , or year-over-year growth of23% to25% . Adjusted for FX, the Company expects ARR growth of24% to26% . - Total revenues of
$380.0 million to$388.0 million , or year-over-year growth of15% to17% . On a constant currency basis, the Company expects revenue growth of17% to19% . - Non-GAAP operating income of
$52.3 million to$55.3 million .
Quarterly Conference Call
AvePoint will host a conference call today, February 27, 2025, to review its fourth quarter and full year 2024 financial results and to discuss its financial outlook. The call is scheduled to begin at 4:30pm ET. You may access the call and register with a live operator by dialing 1 (833) 816-1428 for US participants and 1 (412) 317-0520 for outside the US. The passcode for the call is 8306574. Investors can also join by webcast by visiting https://www.avepoint.com/ir/events-and-presentations. The webcast will be available live, and a replay will be available following the completion of the live broadcast for approximately 90 days.
About AvePoint
Beyond Secure. AvePoint is the global leader in data security, governance, and resilience, going beyond traditional solutions to ensure a robust data foundation and enable organizations everywhere to collaborate with confidence. Over 25,000 customers worldwide rely on the AvePoint Confidence Platform to prepare, secure, and optimize their critical data across Microsoft, Google, Salesforce, and other collaboration environments. AvePoint’s global channel partner program includes approximately 5,000 managed service providers, value-added resellers, and systems integrators, with our solutions available in more than 100 cloud marketplaces. To learn more, visit www.avepoint.com.
Non-GAAP Financial Measures and Other Key Metrics
To supplement AvePoint’s consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (including percentage of revenue figures), non-GAAP operating income and non-GAAP operating margin, and key metrics include annual recurring revenue, dollar-based gross retention rate, and dollar-based net retention rate. The company has included a reconciliation of GAAP to non-GAAP financial measures at the end of this press release. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense and the amortization of acquired intangible assets. The company believes the presentation of its non-GAAP financial measures provides a better representation as to its overall operating performance. The presentation of AvePoint’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for its financial results prepared in accordance with GAAP, and AvePoint’s non-GAAP measures may be different from non-GAAP measures used by other companies.
Annual Recurring Revenue. This metric is calculated as the annualized sum of contractually obligated Annual Contract Value (“ACV”) from SaaS, term license and support, and maintenance revenue sources from all active customers at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or replace these items. ARR is not a forecast of future revenue, and the active contracts used in calculating ARR may or may not be extended or renewed by our customers. The company believes this metric further enables measurement of its business performance, is an important metric for financial forecasting and better enables strategic decision making. Because this metric does not have the effect of providing a numerical measure that is different from any comparable GAAP measure, the company does not consider it a non-GAAP measure.
Dollar-based Gross Retention Rate. This metric is calculated by starting with the ARR from all active customers as of 12 months prior to such period end, or Prior Period ARR. The company then calculates ARR from these same customers as of the current period end, or Current Period ARR. Current Period ARR includes net contraction or attrition over the last 12 months but excludes ARR from new customers in the current period. The company then divides the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based gross retention rate. The company uses this metric as a measure of its ability to retain existing customers, and believes it is useful to investors for the same reason. Because this metric does not have the effect of providing a numerical measure that is different from any comparable GAAP measure, the company does not consider it a non-GAAP measure.
Dollar-based Net Retention Rate. This metric is calculated by starting with the ARR from all active customers as of 12 months prior to such period end, or Prior Period ARR. The company then calculates ARR from these same customers as of the current period end, or Current Period ARR. Current Period ARR includes net expansion over the last 12 months but excludes ARR from new customers in the current period. The company then divides the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based net retention rate. The company uses this metric as a measure of its ability to expand business with existing customers, and believes it is useful to investors for the same reason. Because this metric does not have the effect of providing a numerical measure that is different from any comparable GAAP measure, the company does not consider it a non-GAAP measure.
Disclosure Information
AvePoint uses its Investor Relations website (https://avepoint.com/ir) as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and its registration statement on Form S-1 and related prospectus and prospectus supplements filed with the SEC. Copies of these and other documents filed by AvePoint from time to time are available on the SEC's website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Unless the context otherwise indicates, references in this press release to the terms “AvePoint”, “the Company”, “we”, “our” and “us” refer to AvePoint, Inc. and its subsidiaries.
Investor Contact
AvePoint
Jamie Arestia
ir@avepoint.com
(551) 220-5654
Media Contact
AvePoint
Nicole Caci
pr@avepoint.com
(201) 201-8143
| AvePoint, Inc. Condensed Consolidated Statements of Income (In thousands, except per share amounts) (Unaudited) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue: | |||||||||||||||
| SaaS | $ | 64,847 | $ | 45,260 | $ | 230,667 | $ | 160,961 | |||||||
| Term license and support | 9,432 | 12,270 | 44,560 | 52,744 | |||||||||||
| Services | 12,228 | 13,788 | 44,036 | 44,795 | |||||||||||
| Maintenance | 2,676 | 3,306 | 11,219 | 13,325 | |||||||||||
| Total revenue | 89,183 | 74,624 | 330,482 | 271,825 | |||||||||||
| Cost of revenue: | |||||||||||||||
| SaaS | 11,405 | 9,338 | 41,544 | 35,924 | |||||||||||
| Term license and support | 382 | 505 | 1,584 | 1,946 | |||||||||||
| Services | 9,980 | 9,576 | 38,757 | 38,807 | |||||||||||
| Maintenance | 154 | 199 | 641 | 783 | |||||||||||
| Total cost of revenue | 21,921 | 19,618 | 82,526 | 77,460 | |||||||||||
| Gross profit | 67,262 | 55,006 | 247,956 | 194,365 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 32,410 | 29,127 | 122,869 | 112,105 | |||||||||||
| General and administrative | 17,127 | 15,592 | 69,222 | 61,271 | |||||||||||
| Research and development | 12,872 | 9,409 | 48,699 | 36,340 | |||||||||||
| Total operating expenses | 62,409 | 54,128 | 240,790 | 209,716 | |||||||||||
| Income (loss) from operations | 4,853 | 878 | 7,166 | (15,351 | ) | ||||||||||
| Other expense, net | (23,458 | ) | (1,687 | ) | (31,565 | ) | (3,263 | ) | |||||||
| Loss before income taxes | (18,605 | ) | (809 | ) | (24,399 | ) | (18,614 | ) | |||||||
| Income tax (benefit) expense | (1,427 | ) | (5,245 | ) | 4,743 | 2,887 | |||||||||
| Net (loss) income | $ | (17,178 | ) | $ | 4,436 | $ | (29,142 | ) | $ | (21,501 | ) | ||||
| Net income (loss) attributable to noncontrolling interest | 7 | 167 | (52 | ) | 224 | ||||||||||
| Net (loss) income available to common stockholders | $ | (17,185 | ) | $ | 4,269 | $ | (29,090 | ) | $ | (21,725 | ) | ||||
| Earnings per share: | |||||||||||||||
| Basic | $ | (0.09 | ) | $ | 0.02 | $ | (0.16 | ) | $ | (0.12 | ) | ||||
| Diluted | $ | (0.09 | ) | $ | 0.02 | $ | (0.16 | ) | $ | (0.12 | ) | ||||
| Weighted average shares outstanding: | |||||||||||||||
| Basic | 186,605 | 181,152 | 183,721 | 182,257 | |||||||||||
| Diluted | 186,605 | 198,570 | 183,721 | 182,257 | |||||||||||
| AvePoint, Inc. Condensed Consolidated Balance Sheets (In thousands, except par value) | |||||||
| December 31, | December 31, | ||||||
| 2024 | 2023 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 290,735 | $ | 223,162 | |||
| Short-term investments | 167 | 3,721 | |||||
| Accounts receivable, net | 87,365 | 85,877 | |||||
| Prepaid expenses and other current assets | 16,528 | 12,824 | |||||
| Total current assets | 394,795 | 325,584 | |||||
| Property and equipment, net | 5,289 | 5,118 | |||||
| Goodwill | 17,715 | 19,156 | |||||
| Intangible assets, net | 8,889 | 10,546 | |||||
| Operating lease right-of-use assets | 15,954 | 13,908 | |||||
| Deferred contract costs | 59,838 | 54,675 | |||||
| Other assets | 16,575 | 13,595 | |||||
| Total assets | $ | 519,055 | $ | 442,582 | |||
| Liabilities, mezzanine equity, and stockholders’ equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 2,352 | $ | 1,384 | |||
| Accrued expenses and other current liabilities | 76,135 | 53,766 | |||||
| Current portion of deferred revenue | 144,468 | 121,515 | |||||
| Total current liabilities | 222,955 | 176,665 | |||||
| Long-term operating lease liabilities | 9,909 | 9,383 | |||||
| Long-term portion of deferred revenue | 8,840 | 7,741 | |||||
| Earn-out shares liabilities | — | 18,346 | |||||
| Other liabilities | 6,403 | 5,603 | |||||
| Total liabilities | 248,107 | 217,738 | |||||
| Commitments and contingencies | |||||||
| Mezzanine equity | |||||||
| Redeemable noncontrolling interest | — | 6,038 | |||||
| Total mezzanine equity | — | 6,038 | |||||
| Stockholders’ equity | |||||||
| Common stock, | 19 | 18 | |||||
| Additional paid-in capital | 779,007 | 667,881 | |||||
| Accumulated other comprehensive income | 576 | 3,196 | |||||
| Accumulated deficit | (510,448 | ) | (460,496 | ) | |||
| Noncontrolling interest | 1,794 | 8,207 | |||||
| Total stockholders’ equity | 270,948 | 218,806 | |||||
| Total liabilities, mezzanine equity, and stockholders’ equity | $ | 519,055 | $ | 442,582 | |||
| AvePoint, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | |||||||
| Year Ended | |||||||
| December 31, | |||||||
| 2024 | 2023 | ||||||
| Operating activities | |||||||
| Net loss | $ | (29,142 | ) | $ | (21,501 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 5,382 | 4,687 | |||||
| Operating lease right-of-use assets expense | 6,270 | 6,234 | |||||
| Foreign currency remeasurement loss | 866 | — | |||||
| Stock-based compensation | 39,059 | 36,048 | |||||
| Deferred income taxes | 498 | (864 | ) | ||||
| Other | (67 | ) | 1,068 | ||||
| Change in value of earn-out and warrant liabilities | 37,276 | 11,454 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (4,898 | ) | (19,448 | ) | |||
| Prepaid expenses and other current assets | (3,350 | ) | (2,773 | ) | |||
| Deferred contract costs and other assets | (8,482 | ) | (7,687 | ) | |||
| Accounts payable, accrued expenses, operating lease liabilities and other current liabilities | 16,046 | 609 | |||||
| Deferred revenue | 29,436 | 26,867 | |||||
| Net cash provided by operating activities | 88,894 | 34,694 | |||||
| Investing activities | |||||||
| Maturities of investments | 5,353 | 2,620 | |||||
| Purchases of investments | (1,819 | ) | (3,497 | ) | |||
| Capitalization of internal-use software | (1,211 | ) | (1,434 | ) | |||
| Purchase of property and equipment | (3,044 | ) | (2,087 | ) | |||
| Issuance of notes receivables | (1,750 | ) | (1,250 | ) | |||
| Other investing activities | (130 | ) | — | ||||
| Net cash used in investing activities | (2,601 | ) | (5,648 | ) | |||
| Financing activities | |||||||
| Repurchase of common stock | (33,053 | ) | (39,036 | ) | |||
| Proceeds from warrant exercises | 17,182 | — | |||||
| Proceeds from stock option exercises | 11,033 | 5,569 | |||||
| Redemption of redeemable noncontrolling interest | (6,130 | ) | — | ||||
| Purchase of public warrants | (3,991 | ) | — | ||||
| Company earn-out shares settled in cash | (572 | ) | — | ||||
| Repayments of finance leases | (6 | ) | (64 | ) | |||
| Payments of debt issuance costs | — | (136 | ) | ||||
| Net cash used in financing activities | (15,537 | ) | (33,667 | ) | |||
| Effect of exchange rates on cash | (3,183 | ) | 595 | ||||
| Net decrease in cash and cash equivalents | 67,573 | (4,026 | ) | ||||
| Cash and cash equivalents at beginning of period | 223,162 | 227,188 | |||||
| Cash and cash equivalents at end of period | $ | 290,735 | $ | 223,162 | |||
| Supplemental disclosures of cash flow information | |||||||
| Income taxes paid | $ | 6,882 | $ | 6,112 | |||
| Company earn-out shares issuance | $ | 53,871 | $ | — | |||
| AvePoint, Inc. Non-GAAP Reconciliations (In thousands) (Unaudited) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Non-GAAP operating income | |||||||||||||||
| GAAP operating income (loss) | $ | 4,853 | $ | 878 | $ | 7,166 | $ | (15,351 | ) | ||||||
| Stock-based compensation expense | 9,252 | 9,073 | 39,059 | 36,048 | |||||||||||
| Amortization of acquired intangible assets | 356 | 350 | 1,420 | 1,456 | |||||||||||
| Non-GAAP operating income | $ | 14,461 | $ | 10,301 | $ | 47,645 | $ | 22,153 | |||||||
| Non-GAAP operating margin | 16.2 | % | 13.8 | % | 14.4 | % | 8.1 | % | |||||||
| Non-GAAP gross profit | |||||||||||||||
| GAAP gross profit | $ | 67,262 | $ | 55,006 | $ | 247,956 | $ | 194,365 | |||||||
| Stock-based compensation expense | (201 | ) | 869 | 1,315 | 3,161 | ||||||||||
| Amortization of acquired intangible assets | 239 | 239 | 961 | 964 | |||||||||||
| Non-GAAP gross profit | $ | 67,300 | $ | 56,114 | $ | 250,232 | $ | 198,490 | |||||||
| Non-GAAP gross margin | 75.5 | % | 75.2 | % | 75.7 | % | 73.0 | % | |||||||
| Non-GAAP sales and marketing | |||||||||||||||
| GAAP sales and marketing | $ | 32,410 | $ | 29,127 | $ | 122,869 | $ | 112,105 | |||||||
| Stock-based compensation expense | (2,281 | ) | (2,251 | ) | (8,965 | ) | (9,518 | ) | |||||||
| Amortization of acquired intangible assets | (117 | ) | (111 | ) | (459 | ) | (492 | ) | |||||||
| Non-GAAP sales and marketing | $ | 30,012 | $ | 26,765 | $ | 113,445 | $ | 102,095 | |||||||
| Non-GAAP sales and marketing as a % of revenue | 33.7 | % | 35.9 | % | 34.3 | % | 37.6 | % | |||||||
| Non-GAAP general and administrative | |||||||||||||||
| GAAP general and administrative | $ | 17,127 | $ | 15,592 | $ | 69,222 | $ | 61,271 | |||||||
| Stock-based compensation expense | (5,032 | ) | (4,787 | ) | (20,483 | ) | (19,338 | ) | |||||||
| Non-GAAP general and administrative | $ | 12,095 | $ | 10,805 | $ | 48,739 | $ | 41,933 | |||||||
| Non-GAAP general and administrative as a % of revenue | 13.6 | % | 14.5 | % | 14.7 | % | 15.4 | % | |||||||
| Non-GAAP research and development | |||||||||||||||
| GAAP research and development | $ | 12,872 | $ | 9,409 | $ | 48,699 | $ | 36,340 | |||||||
| Stock-based compensation expense | (2,140 | ) | (1,166 | ) | (8,296 | ) | (4,031 | ) | |||||||
| Non-GAAP research and development | $ | 10,732 | $ | 8,243 | $ | 40,403 | $ | 32,309 | |||||||
| Non-GAAP research and development as a % of revenue | 12.0 | % | 11.0 | % | 12.2 | % | 11.9 | % | |||||||
FAQ
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