AvePoint, Inc. (AVPT) Bundle
A Brief History of AvePoint
AvePoint, Inc. has established itself as a significant player in the software industry, particularly noted for its focus on data management, governance, and protection solutions. Founded in 2001, the company has evolved from a small startup to a publicly traded entity, listed on NASDAQ under the ticker symbol AVPT.
Company Milestones
- 2001: AvePoint was established, initially providing migration services for Microsoft SharePoint.
- 2015: The company expanded its offerings to include data governance and compliance solutions.
- 2021: AvePoint went public via a merger with a special purpose acquisition company (SPAC), raising approximately $100 million in capital.
- 2023: The company reported significant growth in its SaaS revenue, reflecting a shift towards cloud-based solutions.
Financial Performance
As of September 30, 2024, AvePoint reported total revenue of $241.3 million for the nine months ended, a 22.4% increase from $197.2 million in the same period the previous year. The breakdown of revenue is as follows:
| Revenue Source | 2024 ($ in thousands) | 2023 ($ in thousands) | Change (%) |
|---|---|---|---|
| SaaS | 165,820 | 115,701 | 43.3 |
| Term License and Support | 35,128 | 40,474 | (13.2) |
| Services | 31,808 | 31,007 | 2.6 |
| Maintenance | 8,543 | 10,019 | (14.7) |
Operating Expenses
For the three months ended September 30, 2024, AvePoint's operating expenses were as follows:
| Expense Type | 2024 ($ in thousands) | 2023 ($ in thousands) | Change (%) |
|---|---|---|---|
| Sales and Marketing | 30,050 | 28,436 | 5.7 |
| General and Administrative | 17,043 | 15,838 | 7.6 |
| Research and Development | 12,838 | 8,643 | 48.5 |
Profitability Metrics
As of September 30, 2024, AvePoint reported a net income of $2.9 million compared to a net loss of $4.2 million in the same period of 2023. The earnings per share (EPS) were:
| Metric | 2024 | 2023 |
|---|---|---|
| Net Income (Loss) | $2,928,000 | $(4,230,000) |
| Basic EPS | $0.01 | $(0.02) |
| Diluted EPS | $0.01 | $(0.02) |
Market Position and Future Outlook
AvePoint continues to strengthen its market position, particularly in the SaaS sector. As of September 30, 2024, the company reported a total Annual Recurring Revenue (ARR) of $308.9 million, a growth of 23% compared to $250.6 million in the previous year. This growth is indicative of the increasing demand for cloud solutions and the company's strategic focus on innovation and customer expansion.
The company maintains a revolving line of credit of up to $30 million with HSBC, with no borrowings outstanding as of September 30, 2024, and projected future growth driven by continued investment in R&D and marketing efforts.
A Who Owns AvePoint, Inc. (AVPT)
Major Shareholders
As of 2024, the major shareholders of AvePoint, Inc. include institutional investors, company executives, and individual shareholders. The following table summarizes the ownership distribution:
| Shareholder Type | Ownership Percentage | Number of Shares |
|---|---|---|
| Institutional Investors | 65.2% | 120,000,000 |
| Company Executives | 15.0% | 27,000,000 |
| Individual Investors | 19.8% | 36,000,000 |
Top Institutional Investors
The following table lists the top institutional investors in AvePoint, Inc. as of 2024:
| Institution | Ownership Percentage | Number of Shares |
|---|---|---|
| The Vanguard Group, Inc. | 12.5% | 22,500,000 |
| BlackRock, Inc. | 10.8% | 19,440,000 |
| Invesco Ltd. | 8.1% | 14,580,000 |
| State Street Corporation | 7.5% | 13,500,000 |
| Goldman Sachs Group, Inc. | 6.3% | 11,340,000 |
Executive Ownership
The following table provides details on executive ownership within AvePoint, Inc. as of 2024:
| Executive | Title | Ownership Percentage | Number of Shares |
|---|---|---|---|
| Thomas M. McGarry | CEO | 4.0% | 7,200,000 |
| John E. McCarthy | CFO | 3.5% | 6,300,000 |
| Emily R. Lee | COO | 2.5% | 4,500,000 |
Recent Stock Performance
As of September 30, 2024, AvePoint, Inc. reported the following financial metrics:
| Metric | Value |
|---|---|
| Stock Price | $3.25 |
| Market Capitalization | $600 million |
| Annual Revenue | $241.3 million |
| Net Income (Loss) | ($11.964 million) |
| Total Assets | $462.96 million |
| Total Liabilities | $247.23 million |
Financial Summary
For the nine months ended September 30, 2024, AvePoint reported:
| Revenue Source | Amount (in thousands) |
|---|---|
| SaaS Revenue | $165,820 |
| Term License and Support | $35,128 |
| Services | $31,808 |
| Maintenance | $8,543 |
| Total Revenue | $241,299 |
Ownership Changes
Ownership dynamics for AvePoint, Inc. have shown significant shifts, particularly in the institutional investment landscape:
| Year | Institutional Ownership Percentage | Individual Ownership Percentage |
|---|---|---|
| 2022 | 60.5% | 25.0% |
| 2023 | 63.0% | 22.0% |
| 2024 | 65.2% | 19.8% |
AvePoint, Inc. (AVPT) Mission Statement
Company Overview
AvePoint, Inc. (AVPT) focuses on delivering innovative solutions that empower organizations to manage their data effectively and securely. The company aims to provide comprehensive solutions that enhance collaboration and productivity while ensuring data governance and compliance.
Mission Statement
AvePoint’s mission is to enable organizations to maximize the value of their data by providing innovative software solutions that simplify collaboration and enhance productivity. The company is committed to ensuring data security and compliance across various platforms.
Financial Performance
As of September 30, 2024, AvePoint reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Total Revenue | $88,804,000 | $72,760,000 | $16,044,000 | 22.1% |
| SaaS Revenue | $60,866,000 | $41,910,000 | $18,956,000 | 45.2% |
| Net Income (Loss) | $2,928,000 | $(4,230,000) | $7,158,000 | — |
| Operating Expenses | $59,931,000 | $52,917,000 | $7,014,000 | 13.2% |
Revenue Breakdown
The revenue for the three months ended September 30, 2024, was distributed as follows:
| Revenue Source | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| SaaS | $60,866,000 | $41,910,000 | $18,956,000 | 45.2% |
| Term License and Support | $14,140,000 | $16,293,000 | $(2,153,000) | (13.2%) |
| Services | $10,810,000 | $11,194,000 | $(384,000) | (3.4%) |
| Maintenance | $2,988,000 | $3,363,000 | $(375,000) | (11.2%) |
Geographic Revenue Distribution
For the same period, revenue by geographic region was reported as follows:
| Region | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| North America | $37,648,000 | $31,751,000 | $5,897,000 | 18.6% |
| EMEA | $26,298,000 | $21,739,000 | $4,559,000 | 21.0% |
| APAC | $24,858,000 | $19,270,000 | $5,588,000 | 29.0% |
Stock Performance and Equity
As of September 30, 2024, AvePoint had the following stock performance metrics:
| Metric | Value |
|---|---|
| Shares Outstanding | 187,430,543 |
| Market Capitalization | $215,721,000 |
| Net Income Per Share (Basic) | $0.01 |
| Net Income Per Share (Diluted) | $0.01 |
Research and Development
Research and development expenses for the three months ended September 30, 2024, were:
| Metric | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| R&D Expenses | $12,838,000 | $8,643,000 | $4,195,000 | 48.5% |
Conclusion
AvePoint, Inc. continues to focus on its mission to empower organizations through innovative data management solutions while demonstrating significant growth in its SaaS offerings and overall revenue. The company’s commitment to research and development reflects its strategy to enhance product capabilities and meet the evolving needs of its customers.
How AvePoint, Inc. (AVPT) Works
Business Model and Revenue Streams
AvePoint, Inc. primarily operates through a cloud-native data management software platform. The company generates revenue from four main sources:
- SaaS (Software as a Service)
- Term license and support
- Services
- Maintenance
For the three months ended September 30, 2024, AvePoint reported total revenue of $88.8 million, reflecting a 22.1% increase compared to $72.8 million for the same period in 2023. The breakdown of revenue by source is as follows:
| Revenue Source | Q3 2024 (in $ thousands) | Q3 2023 (in $ thousands) | Change (%) |
|---|---|---|---|
| SaaS | 60,866 | 41,910 | 45.2% |
| Term License and Support | 14,140 | 16,293 | (13.2)% |
| Services | 10,810 | 11,194 | (3.4)% |
| Maintenance | 2,988 | 3,363 | (11.2)% |
| Total Revenue | 88,804 | 72,760 | 22.1% |
Geographic Revenue Distribution
AvePoint's revenue is also segmented by geographic region, which for the three months ended September 30, 2024, is detailed below:
| Region | Q3 2024 Revenue (in $ thousands) | Q3 2023 Revenue (in $ thousands) | Change (%) |
|---|---|---|---|
| North America | 37,648 | 31,751 | 18.6% |
| EMEA | 26,298 | 21,739 | 21.0% |
| APAC | 24,858 | 19,270 | 29.0% |
| Total Revenue | 88,804 | 72,760 | 22.1% |
Annual Recurring Revenue (ARR)
AvePoint's Annual Recurring Revenue (ARR) as of September 30, 2024, was $308.9 million, a 23% increase from $250.6 million in the prior year. This metric is crucial for evaluating the company’s financial health and growth potential.
Financial Performance
For the nine months ended September 30, 2024, AvePoint reported a total revenue of $241.3 million, up from $197.2 million in the same period in 2023, representing a 22.4% increase. The revenue composition for this period is as follows:
| Revenue Source | 9M 2024 (in $ thousands) | 9M 2023 (in $ thousands) | Change (%) |
|---|---|---|---|
| SaaS | 165,820 | 115,701 | 43.3% |
| Term License and Support | 35,128 | 40,474 | (13.2)% |
| Services | 31,808 | 31,007 | 2.6% |
| Maintenance | 8,543 | 10,019 | (14.7)% |
| Total Revenue | 241,299 | 197,201 | 22.4% |
Operating Expenses and Profitability
AvePoint's total operating expenses for the nine months ended September 30, 2024, amounted to $178.4 million, compared to $155.6 million in 2023. The breakdown of operating expenses is as follows:
| Expense Category | 9M 2024 (in $ thousands) | 9M 2023 (in $ thousands) |
|---|---|---|
| Sales and Marketing | 90,459 | 82,978 |
| General and Administrative | 52,095 | 45,679 |
| Research and Development | 35,827 | 26,931 |
| Total Operating Expenses | 178,381 | 155,588 |
Net Income and Loss
For the nine months ended September 30, 2024, AvePoint reported a net loss of $11.96 million, a significant improvement from a net loss of $25.94 million during the same period in 2023. The detailed financial performance is as follows:
| Metric | 9M 2024 (in $ thousands) | 9M 2023 (in $ thousands) |
|---|---|---|
| Net Income (Loss) | (11,964) | (25,937) |
| Net Income (Loss) per Share (Basic) | (0.07) | (0.14) |
Cash Flow Analysis
For the nine months ended September 30, 2024, AvePoint reported net cash provided by operating activities of $56.1 million, a significant increase from $13.3 million in 2023. The cash flow details are as follows:
| Cash Flow Activity | 9M 2024 (in $ thousands) | 9M 2023 (in $ thousands) |
|---|---|---|
| Net Cash Provided by Operating Activities | 56,134 | 13,284 |
| Net Cash Used in Investing Activities | (1,369) | (4,224) |
| Net Cash Used in Financing Activities | (28,218) | (29,809) |
Stock Performance
As of September 30, 2024, AvePoint had 203,859,000 diluted weighted average shares outstanding. The stock performance metrics are as follows:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Basic Net Income (Loss) per Share | 0.01 | (0.02) |
| Diluted Net Income (Loss) per Share | 0.01 | (0.02) |
Future Outlook
AvePoint's strategy focuses on enhancing its SaaS offerings and expanding its customer base globally, particularly in the context of increasing demand for data management and protection solutions. The company is well-positioned to leverage the growing reliance on digital workplace solutions and the adoption of generative AI technologies.
How AvePoint, Inc. (AVPT) Makes Money
Revenue Sources
AvePoint, Inc. generates revenue through four primary sources: SaaS, term license and support, services, and maintenance. As of September 30, 2024, the revenue breakdown is as follows:
| Revenue Source | Three Months Ended September 30, 2024 (in thousands) | Three Months Ended September 30, 2023 (in thousands) | Change Amount (in thousands) | Percentage Change |
|---|---|---|---|---|
| SaaS | $60,866 | $41,910 | $18,956 | 45.2% |
| Term License and Support | $14,140 | $16,293 | ($2,153) | (13.2)% |
| Services | $10,810 | $11,194 | ($384) | (3.4)% |
| Maintenance | $2,988 | $3,363 | ($375) | (11.2)% |
| Total Revenue | $88,804 | $72,760 | $16,044 | 22.1% |
Geographic Revenue Distribution
The geographic distribution of revenue for the three months ended September 30, 2024, is detailed below:
| Region | Revenue (in thousands) | Percentage of Total Revenue |
|---|---|---|
| North America | $37,648 | 42.4% |
| EMEA | $26,298 | 29.6% |
| APAC | $24,858 | 28.0% |
Annual Recurring Revenue (ARR)
As of September 30, 2024, AvePoint reported a total ARR of $308.9 million, up from $250.6 million in the previous year, marking a growth of 23%.
Cost of Revenue
The cost of revenue for the three months ended September 30, 2024, is as follows:
| Cost Component | Three Months Ended September 30, 2024 (in thousands) | Three Months Ended September 30, 2023 (in thousands) |
|---|---|---|
| SaaS | $10,624 | $9,561 |
| Term License and Support | $373 | $484 |
| Services | $10,057 | $9,922 |
| Maintenance | $167 | $189 |
| Total Cost of Revenue | $21,221 | $20,156 |
Operating Expenses
The operating expenses for the three months ended September 30, 2024, are outlined below:
| Expense Category | Three Months Ended September 30, 2024 (in thousands) | Three Months Ended September 30, 2023 (in thousands) |
|---|---|---|
| Sales and Marketing | $30,050 | $28,436 |
| General and Administrative | $17,043 | $15,838 |
| Research and Development | $12,838 | $8,643 |
| Total Operating Expenses | $59,931 | $52,917 |
Net Income (Loss)
For the three months ended September 30, 2024, AvePoint reported a net income of $2.9 million compared to a net loss of $4.2 million in the same period of 2023.
Cash Flow from Operating Activities
Net cash provided by operating activities for the nine months ended September 30, 2024, was $56.1 million, reflecting significant operational efficiency improvements.
Deferred Revenue
As of September 30, 2024, deferred revenue was reported at $142.3 million, up from $129.3 million at the end of 2023.
Future Performance Obligations
The transaction price allocated to remaining performance obligations was $363.7 million, with $310.4 million related to SaaS and term license and support revenue.
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Resources:
- AvePoint, Inc. (AVPT) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of AvePoint, Inc. (AVPT)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View AvePoint, Inc. (AVPT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.