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 has appointed Heather Murray as Chief Channel Officer and Angela Choo as VP of Channel, Asia, reinforcing its global channel strategy. Murray, with over 30 years of experience, aims to enhance partnerships and distribution networks. Choo brings 20 years of expertise in the APAC region, focusing on leveraging digital transformation opportunities. The company also launched its Certified AvePoint Professional Services (CAPS) program, enhancing partner training, with over 3,500 partners engaged. These strategic hires and initiatives signal AvePoint's commitment to expanding its market presence.
AvePoint has joined the Russell 3000®, Russell 2000®, and Russell Microcap® indexes, providing enhanced visibility and engagement within the institutional investor community. This inclusion follows nearly a year after its listing on Nasdaq. The Russell indexes encompass the largest US stocks and are significant benchmarks for investment strategies, with approximately $12 trillion in assets linked to them. The company aims to leverage this recognition to further its mission in SaaS and data management.
AvePoint (NASDAQ: AVPT) has enhanced its Cloud Backup solution by adding data recovery capabilities for Microsoft Azure, bolstering its commitment to risk mitigation and productivity. This new feature allows for periodic backups of business-critical applications every six hours, and secure multi-cloud storage options. The solution now supports granular recovery options, ensuring quick access to data. Recognized with notable industry accolades, AvePoint aims to help organizations protect data efficiently amid increasing cyber threats.
AvePoint (NASDAQ: AVPT) announced the launch of four new solutions on Microsoft AppSource, enhancing its commitment to assist businesses in managing their Microsoft investments. The new products include AvePoint Entrust, Cloud Governance, Insights, and Cloud Backup. These tools aim to streamline operations, enhance security, and support faster implementation, thereby delivering significant time and resource savings for businesses.
AvePoint (NASDAQ: AVPT), a leading SaaS and data management platform, announces its participation in several upcoming investor conferences. The company will present at the Needham 17th Annual Technology & Media Conference on May 17, 2022, Jefferies Software Conference on June 1, 2022, Cowen 50th Annual Technology, Media & Telecom Conference on June 2, 2022, and William Blair 42nd Annual Growth Stock Conference on June 9, 2022. Live and archived audio webcasts will be accessible on its Investor Relations website.
AvePoint reported a strong first quarter for 2022 with total revenue of $50.3 million, a 30% increase year-over-year. SaaS revenue reached $26.6 million, up 45%, contributing to an annual recurring revenue (ARR) of $167.4 million, a 30% growth. However, the company faced an operating loss of $(13.8) million, widening from $(5.9) million in the previous year. The guidance for Q2 2022 anticipates revenue between $54.0 million and $56.0 million, with a non-GAAP operating loss between $(1.5) million and $(2.5) million.
AvePoint (NASDAQ: AVPT) has appointed Janet Schijns to its Board of Directors, bringing over 20 years of experience in channel program optimization from roles at Office Depot, Verizon, and Motorola. Her expertise is expected to enhance AvePoint's indirect sales strategy as the company focuses on global growth. CEO Dr. Tianyi Jiang expressed confidence in Schijns’ ability to contribute to the company's expansion. Schijns is also the CEO of JS Group and committed to women in technology.
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