Welcome to our dedicated page for Avepoint news (Ticker: AVPT), a resource for investors and traders seeking the latest updates and insights on Avepoint stock.
About AvePoint Inc. (NASDAQ: AVPT)
AvePoint Inc. is a global leader in data security, governance, and resilience, empowering organizations to modernize their digital workplaces and collaborate with confidence. Founded in 2001 and headquartered in Jersey City, NJ, AvePoint specializes in providing cloud-based solutions that enable businesses to manage, protect, and optimize their critical data across multi-cloud environments, including platforms such as Microsoft 365, Google Workspace, and Salesforce. With a presence in over 100 cloud marketplaces and a global customer base exceeding 25,000 organizations, AvePoint is at the forefront of addressing the pivotal challenges of digital transformation, cybersecurity, and compliance.
Core Offerings
The company’s flagship product, the AvePoint Confidence Platform, is a comprehensive suite of SaaS solutions designed to support IT operations, cybersecurity, and compliance teams. It provides tools for:
- Data Protection: Safeguarding sensitive information through advanced backup, recovery, and encryption capabilities.
- Information Lifecycle Management: Ensuring data is stored, accessed, and disposed of in compliance with regulatory requirements.
- Risk Intelligence: Identifying and mitigating potential vulnerabilities in enterprise data systems.
- Cloud Migration: Seamlessly transferring data between on-premises and cloud environments.
These solutions cater to a wide range of industries, including financial services, healthcare, public sector, and energy, addressing their unique data management and compliance needs.
Business Model and Market Position
AvePoint generates revenue primarily through subscription-based SaaS offerings, licensing, and partnerships with managed service providers (MSPs) and value-added resellers (VARs). Its solutions are available on a global scale, supported by a robust partner network of approximately 5,000 MSPs and VARs. This extensive reach, combined with its deep integration with leading collaboration platforms, positions AvePoint as a trusted partner for enterprises navigating complex digital transformations.
Industry Context and Competitive Landscape
The increasing reliance on cloud services and the adoption of AI technologies have amplified the need for robust data governance and cybersecurity solutions. AvePoint's focus on enabling secure collaboration and its ability to address compliance and risk management challenges make it a key player in this growing market. Competitors include companies like Veeam, Veritas, and Datto, but AvePoint differentiates itself through its multi-cloud capabilities, scalability, and long-standing partnerships with technology giants like Microsoft and Google.
Commitment to Innovation and Sustainability
AvePoint continuously invests in R&D to enhance its platform, recently expanding its offerings to include advanced solutions for Google Workspace and AI-driven data governance. Its focus on innovation ensures that its customers are equipped to handle the evolving challenges of data management in a rapidly changing technological landscape. Additionally, its commitment to sustainable business practices underscores its role as a responsible corporate citizen.
Why Choose AvePoint?
With over two decades of experience, AvePoint combines technical expertise with a customer-centric approach to deliver solutions that drive operational efficiency, enhance security, and ensure compliance. Whether it’s optimizing SaaS operations or enabling secure collaboration, AvePoint empowers organizations to achieve their business objectives with confidence.
AvePoint reported strong financial results for 2022, with total revenue reaching $232.3 million, marking a 21% increase year-over-year. SaaS revenue was $117.2 million, up 37% year-over-year. The company achieved a total Annual Recurring Revenue (ARR) of $201.7 million, a 27% increase from 2021. However, it also reported a GAAP operating loss of $(41.1) million. For 2023, AvePoint anticipates total revenues between $253.8 million and $260.8 million, representing 11% growth year-over-year.
With a cash position of $229.8 million, the company aims for profitability improvements and plans to discuss strategic priorities at its upcoming Investor Day.
AvePoint (NASDAQ: AVPT) will host its inaugural Investor Day on March 22, 2023, at 9:00 AM ET at the Nasdaq MarketSite in New York City. The event will feature insights from the executive management team, discussing market trends, the AvePoint Confidence Platform, and the company’s financial outlook. Registration is required for attendance, and a live webcast will be available on the AvePoint Investor Relations website, with an archived version accessible afterward. AvePoint, founded in 2001, provides advanced SaaS solutions and is a recognized Microsoft Partner, supporting over 9 million cloud users globally.
AvePoint (NASDAQ: AVPT) will release its fourth quarter and full year 2022 financial results on March 9, 2023, after market close. A conference call, led by CEO Dr. Tianyi Jiang and CFO Jim Caci, is scheduled for 4:30 PM ET to discuss the results and current business trends. Interested parties can join the call via specific dialing information provided in the release. A live webcast will also be available on AvePoint's Investor Relations website, with a replay accessible for 90 days post-event. AvePoint is recognized for its SaaS solutions, utilized by over 9 million users, and has been a five-time Global Microsoft Partner of the Year.
AvePoint (NASDAQ: AVPT) announced enhancements to its Confidence Platform, extending governance and data protection capabilities to Microsoft Power Platform. This integration aims to address the challenges IT leaders face in managing governance, security, and compliance while adopting Power Platform for automation and digital solutions. Key features include full-time protection for critical workspaces, comprehensive management strategies, and seamless data migration capabilities. These developments are expected to empower organizations to increase IT agility and enhance productivity without compromising data integrity.
AvePoint (NASDAQ: AVPT) will participate in the 25th Annual Needham Growth Conference on January 12, 2023. CEO Dr. Tianyi Jiang and CFO Jim Caci will engage in a virtual fireside chat at 8:00 AM ET. The event will be streamed live and can be accessed later on the Investor Relations website.
AvePoint specializes in SaaS and data management solutions, serving over 9 million cloud users. Founded in 2001, it's recognized as a five-time Global Microsoft Partner of the Year, headquartered in Jersey City, New Jersey.
AvePoint has announced the appointment of Kevin Briggs as Vice President of U.S. Public Sector, focusing on clients in education and government. This move aligns with the company’s ongoing revenue and SaaS growth, as noted in their recent Q3 earnings report. Briggs, with 20 years in federal government experience from firms like Microsoft, aims to enhance AvePoint's presence in the public sector. The company serves over 1,000 U.S. public sector organizations and is committed to expanding its MaivenPoint product line for universities.
AvePoint (NASDAQ: AVPT) will host a virtual product showcase on December 14, 2022, at 11:00 a.m. ET, focusing on the AvePoint Confidence Platform and its role in digital transformation. The event will feature insights from CEO Dr. Tianyi Jiang, Chief Strategy Officer Mario Carvajal, and more, providing an overview and live demonstration of the platform. AvePoint’s platform helps organizations using various cloud services enhance efficiency and collaboration, supporting over 9 million users globally.
AvePoint (NASDAQ: AVPT) reported strong financial results for Q3 2022, with total revenue of $62.7 million, a 16% year-over-year increase. Adjusted for constant currency, revenue growth reached 26%. SaaS revenue stood at $30.0 million, reflecting a 34% year-over-year growth. The company’s Annual Recurring Revenue (ARR) grew to $191.7 million, a 30% increase over the previous year. Despite a GAAP operating loss of $7.4 million, AvePoint anticipates Q4 revenue between $63 million and $65 million, forecasting continued growth amidst strategic investments and strong market demand.
AvePoint (NASDAQ: AVPT) is set to release its financial results for Q3 2022 on November 10, 2022, after market close. The company will conduct a conference call at 4:30 PM ET featuring CEO Dr. Tianyi Jiang and CFO Jim Caci, who will discuss the results and current business trends. The call can be accessed by dialing (888) 254-3590 for US participants. A live webcast will be available on AvePoint’s Investor Relations page, with a replay accessible for 90 days post-call.
AvePoint (NASDAQ: AVPT) has been announced as a featured launch partner for Microsoft Syntex, a new cloud-based service that enhances the processing and management of content in Microsoft 365.
This partnership aims to empower organizations with advanced AI capabilities for automating workflows and improving information management, including features like backup and restore for SharePoint and compliance archiving.
John Peluso, AvePoint's Chief Product Officer, emphasized the significance of this collaboration for enhancing Microsoft 365 environments.
FAQ
What is the current stock price of Avepoint (AVPT)?
What is the market cap of Avepoint (AVPT)?
What does AvePoint Inc. specialize in?
What is the AvePoint Confidence Platform?
How does AvePoint generate revenue?
Who are AvePoint’s key competitors?
What industries does AvePoint serve?
What makes AvePoint’s solutions unique?
What is AvePoint’s approach to AI and digital transformation?
Where is AvePoint headquartered?
