Mission Statement, Vision, & Core Values (2024) of AvePoint, Inc. (AVPT)

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An Overview of AvePoint, Inc. (AVPT)

General Summary of AvePoint, Inc. (AVPT)

AvePoint, Inc. is a leading provider of SaaS solutions that help organizations manage, protect, and optimize their Microsoft 365 environments. Founded in 2001, AvePoint has evolved from its early focus on SharePoint backup solutions to a comprehensive suite of products that includes data governance, compliance, and migration services. As of 2024, AvePoint continues to innovate and expand its offerings, catering to a diverse clientele across various sectors.

As of 2024, AvePoint's total sales reached approximately $241.3 million for the nine months ended September 30, reflecting a significant increase from previous years. The company’s strategic focus on SaaS products has driven substantial growth in this segment, which accounted for 69% of total revenue, up from 59% in the prior year.

Company's Financial Performance in Latest Financial Reports

In the latest financial report for the third quarter ending September 30, 2024, AvePoint reported total revenue of $88.8 million, marking a 22.1% increase compared to $72.8 million for the same period in 2023. This growth was primarily driven by a remarkable 45.2% increase in SaaS revenue, which reached $60.9 million for the quarter. This segment's growth demonstrates strong customer demand for AvePoint's solutions.

Revenue Source Q3 2024 Q3 2023 Change (%)
SaaS $60.9 million $41.9 million 45.2%
Term License and Support $14.1 million $16.3 million (13.2%)
Services $10.8 million $11.2 million (3.4%)
Maintenance $3.0 million $3.4 million (11.2%)
Total Revenue $88.8 million $72.8 million 22.1%

For the nine months ended September 30, 2024, AvePoint reported total revenue of $241.3 million, a 22.4% increase from $197.2 million in the same period of 2023. The growth in total revenue was primarily attributed to the significant rise in SaaS revenue, which increased by 43.3%, reaching $165.8 million.

Introduction to Company as a Leader in the Industry

AvePoint is recognized as a leader in the data management and SaaS industry, leveraging over two decades of experience to deliver innovative solutions that address complex data management challenges. The company's commitment to enhancing its offerings through continuous improvement and adaptation to market demands positions it favorably against competitors.

As of September 30, 2024, AvePoint's total annual recurring revenue (ARR) was approximately $308.9 million, reflecting a growth of 23% year-over-year. This metric underscores the company's strong performance and its critical role in enabling businesses to optimize their Microsoft 365 environments.

Investors and stakeholders are encouraged to explore further the factors contributing to AvePoint's success and its strategic direction in the evolving landscape of data management solutions.




Mission Statement of AvePoint, Inc. (AVPT)

Mission Statement of AvePoint, Inc. (AVPT)

AvePoint, Inc.'s mission statement articulates its commitment to empowering organizations to optimize and secure their digital workplaces through innovative data management solutions. This mission is significant as it guides the company's strategic direction, shapes customer engagement, and influences product development. The focus on high-quality products and services is reflected in its robust financial performance and market growth.

Core Component 1: Empowering Organizations

AvePoint's mission emphasizes its goal of empowering organizations, which is evident in its diverse offerings that enhance operational efficiency and data security. For instance, the company's annual recurring revenue (ARR) reached $308.9 million as of September 30, 2024, reflecting a 23% increase year-over-year. This growth is driven by strong demand for its SaaS solutions, which constituted 69% of total revenue for the same period.

Core Component 2: Optimizing Digital Workplaces

The mission's focus on optimizing digital workplaces is underscored by AvePoint's innovative software solutions, which facilitate seamless collaboration and data management. For the three months ended September 30, 2024, AvePoint reported total revenue of $88.8 million, a 22.1% increase from the previous year. The company’s flagship offerings, such as AvePoint Cloud Backup Express, are designed to enhance data protection and operational efficiency.

Core Component 3: Innovative Data Management Solutions

AvePoint's commitment to innovation is reflected in its significant investment in research and development, which amounted to $12.8 million for the three months ended September 30, 2024, marking a 48.5% increase compared to the prior year. This investment facilitates the development of cutting-edge technologies that address complex data management challenges faced by organizations, positioning AvePoint as a leader in the data management industry.

Metric Q3 2024 Q3 2023 Change (%)
Total Revenue $88.8 million $72.8 million 22.1%
SaaS Revenue $60.9 million $41.9 million 45.2%
Annual Recurring Revenue (ARR) $308.9 million $250.6 million 23%
Research and Development Expenses $12.8 million $8.6 million 48.5%

AvePoint's mission statement and its core components demonstrate the company's strategic focus on empowering organizations, optimizing digital workplaces, and delivering innovative data management solutions. The impressive financial metrics underscore its commitment to high-quality products and services, reinforcing its position as a key player in the tech industry.




Vision Statement of AvePoint, Inc. (AVPT)

Vision Statement Overview

AvePoint, Inc. (AVPT) envisions a future where organizations can seamlessly manage and protect their data with confidence. The company aims to empower enterprises to embrace innovation while ensuring data security and compliance. This vision is reflected in their commitment to providing comprehensive cloud-native solutions that enhance operational efficiency.

Commitment to Innovation

AvePoint’s vision emphasizes a strong commitment to innovation. The company is dedicated to developing advanced solutions that leverage emerging technologies such as artificial intelligence and machine learning. This focus on innovation is a cornerstone of their strategy to enhance customer experience and operational effectiveness.

As of September 30, 2024, AvePoint reported a total annual recurring revenue (ARR) of $308.9 million, indicating a significant year-over-year increase of 23%. This growth is driven by a robust demand for their SaaS products, which accounted for 69% of total revenue for the nine months ended September 30, 2024.

Data Management and Security

AvePoint's vision underscores the importance of data management and security in today’s digital landscape. The company aims to provide organizations with the tools necessary to navigate the complexities of data governance and compliance effectively. Their solutions are designed to mitigate risks associated with data breaches and ensure regulatory compliance.

Their revenue from SaaS solutions increased by 45% year-over-year, reaching $60.9 million for the three months ended September 30, 2024. This growth reflects AvePoint's successful strategy in addressing the increasing demand for secure data management solutions.

Customer-Centric Approach

AvePoint’s vision is also centered around a customer-centric approach. The company aims to understand and address the unique needs of its diverse customer base, which spans various industries and regions. By prioritizing customer feedback and insights, AvePoint continuously improves its offerings.

During the three months ended September 30, 2024, AvePoint generated $88.8 million in total revenue, a 22% increase compared to the same period in the previous year. This growth is indicative of their effective engagement with customers and responsiveness to market demands.

Global Reach and Impact

AvePoint envisions expanding its global reach to impact organizations worldwide. The company seeks to empower enterprises in all regions to optimize their operations through its innovative solutions. Their strategy includes enhancing partnerships and expanding their footprint in emerging markets.

For the three months ended September 30, 2024, revenue by geographic region was as follows:

Region Revenue (in thousands) Year-over-Year Change (%)
North America $37,648 18.6%
EMEA $26,298 21.0%
APAC $24,858 29.0%
Total $88,804 22.1%

Conclusion

AvePoint, Inc. is poised to lead the market in data management and security by adhering to its vision of innovation, customer-centricity, and global impact. Their commitment to empowering organizations to thrive in a data-driven world continues to drive their growth and success.




Core Values of AvePoint, Inc. (AVPT)

Integrity

The core value of Integrity at AvePoint, Inc. emphasizes ethical conduct and transparency in all business practices. This value is critical as it builds trust with customers, employees, and stakeholders.

In 2024, AvePoint demonstrated its commitment to integrity through various initiatives, including:

  • Implementing a comprehensive ethics training program for all employees, ensuring everyone understands the company's ethical standards.
  • Publishing an annual transparency report that outlines business practices, financial performance, and compliance with regulatory standards.
  • Engaging in regular audits and reviews to uphold compliance with industry regulations and internal policies.

Innovation

Innovation is at the heart of AvePoint’s mission to enhance data management solutions. The company invests significantly in research and development to foster continuous improvement and technological advancement.

In 2024, AvePoint launched several innovative products, such as:

  • AvePoint Cloud Backup Express, designed for rapid and efficient data protection within Microsoft 365 environments.
  • New features for its SaaS platform that improve user experience and data security, resulting in a 45.2% increase in SaaS revenue, contributing $60.9 million for Q3 2024 .

Collaboration

The value of Collaboration highlights AvePoint’s belief in teamwork and shared goals. This value is essential for driving collective success and fostering a positive work environment.

In 2024, AvePoint emphasized collaboration through:

  • Cross-functional teams that work on product development, enhancing the integration of various departments.
  • Partnerships with major cloud service providers to enhance product offerings and expand market reach.
  • Employee engagement initiatives that promote teamwork, resulting in improved employee satisfaction scores.

Customer Commitment

Customer Commitment is a cornerstone of AvePoint’s operations, reflecting its dedication to understanding and addressing customer needs. This value fosters long-lasting relationships and customer loyalty.

In 2024, AvePoint achieved significant milestones in customer commitment, including:

  • A total annual recurring revenue (ARR) growth of 23%, reaching $308.9 million by September 30, 2024 .
  • Enhanced customer support services, leading to a 30% improvement in customer satisfaction ratings.
  • Regular feedback loops with customers to iterate on product features, resulting in a 22.4% increase in overall revenue year-over-year .

Excellence

The core value of Excellence drives AvePoint to maintain high standards in all aspects of its business. This commitment ensures that the company not only meets but exceeds customer expectations.

In 2024, AvePoint showcased its dedication to excellence through:

  • A rigorous quality assurance process that reduced product defects by 15% compared to the previous year.
  • Recognition in industry awards for outstanding product performance and customer service.
  • Investment in employee training programs that focus on skill enhancement, leading to a more efficient workforce.
Core Value Initiatives 2024 Impact
Integrity Ethics training, transparency reports, audits Increased trust and compliance
Innovation New product launches, R&D investment 45.2% increase in SaaS revenue
Collaboration Cross-functional teams, partnerships Improved employee satisfaction
Customer Commitment Feedback loops, enhanced support 23% growth in ARR
Excellence Quality assurance, employee training 15% reduction in product defects

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Resources:

  1. 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.
  2. 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.