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.
AvePoint, Inc. reports developments in AI data protection, data security, governance and resilience for cloud collaboration environments. The company’s AvePoint Confidence Platform is used to secure, govern and recover data across Microsoft, Google, Salesforce and other cloud ecosystems, with product updates focused on lifecycle control, multicloud governance, backup, rapid recovery and automation.
Recurring AvePoint news includes SaaS revenue, annual recurring revenue and operating results, along with platform releases such as AgentPulse Command Center for AI agent observability, governance and cost control. Company updates also cover managed service provider research, partner ecosystem activity, investor conference participation and cloud-marketplace distribution.
AvePoint reported Q2 2022 total revenue of $55.7 million, reflecting a 23% year-over-year growth, while SaaS revenue reached $27.6 million, a 34% increase. Total ARR was $178.2 million, up 28% year-over-year. Despite strong revenue growth, the company faced an operating loss of $(11.8) million, worsened from $(11.2) million in the previous year. The Q3 guidance estimates total revenue between $62 million and $64 million, with a projected operating income of $1 million to $2 million.
AvePoint (NASDAQ: AVPT) has announced a rebranding of its SaaS learning product line to MaivenPoint as part of a broader effort to enhance digital education experiences. The rebranding aims to reflect a shift towards user-driven learning in response to changes in how people learn. MaivenPoint offers four main product suites: Curricula Learning Management, Examena Exams Management, Vitae Student and Alumni Management, and eTeams Training Management. Key acquisitions include Combined Knowledge Ltd and i-Access, furthering AvePoint's mission in the educational sector.
AvePoint (NASDAQ: AVPT) will report its financial results for Q2 2022 on August 11, 2022, after market close. A conference call hosted by CEO Dr. Tianyi Jiang and CFO Jim Caci will follow at 4:30 PM ET to discuss the results and current business trends. Investors can register for the call by dialing 1 (844) 826 3035 or 1 (412) 317 5195 for international participants, using conference ID 10169265. A live webcast will also be available on the Investor Relations section of AvePoint’s website.
AvePoint Japan has won the Global Independent Software Vendor (ISV) Award at the Microsoft Japan Partner of the Year 2022 event, marking its first award in this regional program. This accolade recognizes AvePoint's strong collaboration with Microsoft to facilitate cloud migration for various sectors, including government and manufacturing. The award highlights AvePoint's effective solutions in data migration, governance, and backup for Microsoft 365, reinforcing its commitment to digital transformation in Japan.
AvePoint announces key leadership changes to drive growth. Thomas Lin has been appointed as Chief Revenue Officer, previously serving as the company's first sales executive. He emphasizes building strong global sales teams and enhancing customer success. Stuart Robertson takes on the role of Chief Operating Officer, focusing on leadership development and operational efficiency. These moves are designed to capitalize on growth opportunities as the company evolves as a public entity.
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.
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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.