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.
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AvePoint has bolstered its security offerings by adding three new solutions to its FedRAMP (moderate) Authorization, allowing federal agencies to utilize verified SaaS solutions. This expansion reflects AvePoint's commitment to meet stringent government security standards for its public sector customers. As of now, a total of 19 solutions are authorized. New offerings include Cloud Backup for Azure, ReCenter, and Confide, enhancing their capability to secure cloud collaboration and data recovery. AvePoint's services are leveraged by over 1,000 public sector organizations, emphasizing its role in safeguarding sensitive data.
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.