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AvePoint (Nasdaq: AVPT) lifts 2026 ARR outlook after strong Q2 results

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

AvePoint, Inc. reported strong results for the second quarter ended June 30, 2026. Total revenue was $124.5 million, up 22% year over year, with SaaS revenue of $98.5 million, up 27%. Annual recurring revenue reached $465.1 million, also up 27%.

GAAP gross profit was $91.0 million with a 73.1% margin, and GAAP operating income increased to $10.2 million. GAAP net income rose to $27.6 million, aided by a $19.9 million income tax benefit from releasing a valuation allowance on certain deferred tax assets. Non-GAAP operating income was $20.3 million, with a 16.3% margin. Cash from operations for the first half of 2026 was $40.2 million, and cash and cash equivalents were $417.3 million as of June 30, 2026.

Key SaaS metrics remained solid, with a dollar-based gross retention rate of 89% and a net retention rate of 111%. The company is again raising full-year guidance for annual recurring revenue and updating 2026 revenue and non-GAAP operating income guidance, while incorporating higher planned expenses and expected foreign exchange headwinds.

Positive

  • Total revenue reached $124.5 million in Q2 2026, representing 22% year-over-year growth, with SaaS revenue of $98.5 million growing 27% year over year.
  • Annual recurring revenue (ARR) climbed to $465.1 million as of June 30, 2026, up 27% year over year, demonstrating strong expansion in contracted recurring business.
  • GAAP profitability improved, with operating income rising to $10.2 million and net income to $27.6 million, helped by a $19.9 million tax benefit from releasing a valuation allowance.
  • Non-GAAP operating income increased to $20.3 million in Q2 2026 from $18.8 million a year earlier, while non-GAAP operating margin remained in the mid-teens at 16.3%.
  • Operating cash flow strengthened, with $40.2 million generated in the first six months of 2026 versus $20.8 million in the prior-year period, supporting a cash balance of $417.3 million.
  • Full-year 2026 outlook was raised again for ARR, and updated guidance calls for $508.5–$512.5 million of revenue and $86.4–$88.4 million of non-GAAP operating income.

Negative

  • Non-GAAP operating margin compressed to 16.3% in Q2 2026 from 18.4% a year earlier, indicating slower growth in non-GAAP operating income than in revenue.
  • Updated 2026 guidance factors in expected foreign exchange headwinds that the company states more than offset the ARR raise and second-quarter outperformance for revenue and non-GAAP operating income.

Filing Explained

First-half common-stock repurchases used cash and reduced reported shares outstanding by June 30, 2026.

Form 8-K reports specified material events within four business days; on August 6, 2026, AvePoint furnished its second-quarter results under Item 2.02. The results information is furnished rather than filed for purposes of Section 18 of the Exchange Act.

The release also discloses completed first-half common-stock repurchases, which used cash and reduced the number of reported shares outstanding. The balance sheet reports cash and cash equivalents and shares issued and outstanding at June 30, 2026, and December 31, 2025.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Total Revenue $124.5 million Total revenue for the second quarter of 2026, up 22% from the second quarter of 2025.
Q2 2026 SaaS Revenue $98.5 million SaaS revenue in Q2 2026, representing 27% year-over-year growth.
Annual Recurring Revenue (ARR) $465.1 million ARR as of June 30, 2026, up 27% year over year; 24% adjusted for FX.
Q2 2026 GAAP Net Income $27,570 Net income (in thousands) for the quarter ended June 30, 2026, including a $19.9 million tax benefit.
Q2 2026 Non-GAAP Operating Income $20,275 Non-GAAP operating income (in thousands) in Q2 2026, with a 16.3% non-GAAP operating margin.
Cash and Cash Equivalents $417,250 Cash and cash equivalents (in thousands) as of June 30, 2026.
Operating Cash Flow H1 2026 $40,202 Net cash provided by operating activities (in thousands) for the six months ended June 30, 2026.
2026 Revenue Guidance Range $508.5–$512.5 million Full-year 2026 total revenue guidance, implying 22% year-over-year growth at the midpoint.
Annual Recurring Revenue financial
"Total ARR of $465.1 million, representing 27% year-over-year growth"
Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.
dollar-based gross retention rate financial
"Dollar-based gross retention rate was 89% on a reported and FX-adjusted basis"
Dollar-based gross retention rate measures how much of a company’s recurring revenue from existing customers is preserved over a set period, excluding any extra sales or price increases to those customers. It matters to investors because it shows the pure stability of the core customer base—think of a leaky bucket where this metric tells you what percent of the water is still in the bucket after accounting only for losses, not new pours.
dollar-based net retention rate financial
"dollar-based net retention rate was 111% on a reported basis and 110% when adjusted for FX"
Dollar-based net retention rate measures how much recurring revenue a company keeps and grows from its existing customers over a set period, after accounting for upgrades, downgrades, and churn. Think of it like checking whether a group of current customers are spending more, the same, or less this year compared with last year; investors use it as a thermometer for revenue health and the business’s ability to expand sales without finding new customers.
constant currency basis financial
"Total revenue of $124.5 million, representing 22% year-over-year growth, 21% on a constant currency basis"
A "constant currency basis" is a way companies compare financial results by removing the effects of changing exchange rates between different currencies. It helps show how the business is really performing, without the confusion caused by currency value swings, much like adjusting for inflation to see true growth.
valuation allowance financial
"Includes an income tax benefit of $19.9 million related to the release of a previously recorded valuation allowance"
A valuation allowance is a reserve set aside to reduce the value of certain assets on a company's financial records when there is uncertainty about whether they will generate the expected benefits. It acts like a caution sign, indicating that some assets might not be fully recoverable or worth their recorded amount. This matters to investors because it provides a more realistic picture of a company's financial health and potential risks.
stock-based compensation expense financial
"These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense"
Stock-based compensation expense is the value that a company records when it gives employees or executives shares or options to buy shares as part of their pay. It matters because it shows the true cost of paying employees this way, which can affect the company's profits and how investors see its financial health.
Total revenue $124.5 million up 22% from the second quarter of 2025
SaaS revenue $98.5 million up 27% from the second quarter of 2025
GAAP net income $27,570 (in thousands) compared to $2,893 (in thousands) in Q2 2025, including a $19.9 million tax benefit
Non-GAAP operating income $20.3 million compared to $18.8 million in the second quarter of 2025
Annual Recurring Revenue (ARR) $465.1 million up 27% year over year; 24% adjusted for FX
Guidance

For Q3 2026, the company expects total revenues of $128.2–$130.2 million and non-GAAP operating income of $21.0–$22.0 million. For full-year 2026, it expects ARR of $522.1–$528.1 million, total revenues of $508.5–$512.5 million, and non-GAAP operating income of $86.4–$88.4 million, incorporating higher expenses and FX headwinds.

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FAQ

How much revenue did AvePoint (AVPT) generate in Q2 2026 and what was the growth rate?
AvePoint generated $124.5 million in total revenue in Q2 2026, an increase of 22% year over year. SaaS revenue was $98.5 million, up 27% from the second quarter of 2025, highlighting strong subscription-driven growth.

Was AvePoint (AVPT) profitable in the second quarter of 2026?
AvePoint reported GAAP net income of $27.6 million in Q2 2026, up from $2.9 million a year earlier. Results included a $19.9 million income tax benefit from releasing a valuation allowance, and non-GAAP operating income was $20.3 million.

What were AvePoint (AVPT)’s ARR and retention metrics as of June 30, 2026?
As of June 30, 2026, AvePoint’s annual recurring revenue (ARR) was $465.1 million, up 27% year over year. Dollar-based gross retention was 89%, and dollar-based net retention was 111%, with FX-adjusted net retention at 110%.

What financial guidance did AvePoint (AVPT) provide for full-year 2026?
For 2026, AvePoint now expects ARR of $522.1–$528.1 million and total revenue of $508.5–$512.5 million. Non-GAAP operating income is projected between $86.4 million and $88.4 million, incorporating higher planned expenses and foreign exchange headwinds.

How strong is AvePoint (AVPT)’s cash position and cash flow so far in 2026?
AvePoint ended June 30, 2026 with $417.3 million in cash and cash equivalents. For the first six months of 2026, the company generated $40.2 million in cash from operations, nearly doubling the $20.8 million generated in the prior-year period.

What margins did AvePoint (AVPT) report for Q2 2026?
In Q2 2026, AvePoint’s GAAP gross margin was 73.1%, slightly below 74.0% a year earlier. Non-GAAP gross margin was 73.7%, and non-GAAP operating margin was 16.3%, compared with 18.4% in the second quarter of 2025.

What is AvePoint (AVPT)’s revenue and non-GAAP income outlook for Q3 2026?
For Q3 2026, AvePoint expects total revenue of $128.2–$130.2 million, implying about 18% year-over-year growth at the midpoint. The company guides to non-GAAP operating income of $21.0–$22.0 million for the quarter.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 6, 2026

_______________________________

AvePoint, Inc.

(Exact name of registrant as specified in its charter)

_______________________________

Delaware001-3904883-4461709
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

525 Washington Boulevard Suite 1400

Jersey City, New Jersey 07310

(Address of Principal Executive Offices) (Zip Code)

(201) 793-1111

(Registrant's telephone number, including area code)

 

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par valueAVPTThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 
 
Item 2.02. Results of Operations and Financial Condition.

 

On August 6, 2026, AvePoint, Inc. issued a press release (the “AvePoint PR”) announcing its financial results for the second quarter ended June 30, 2026. The AvePoint PR is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information under Item 2.02 in this Current Report on Form 8-K, and the related information in the exhibit attached hereto as Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number Description
   
99.1 Press Release, dated August 6, 2026, reporting AvePoint, Inc.’s financial results for the second quarter ended June 30, 2026, (furnished pursuant to Item 2.02 of Form 8-K)
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 AvePoint, Inc.
   
  
Date: August 6, 2026By: /s/ BRIAN MICHAEL BROWN        
  Brian Michael Brown
  Chief Legal and Compliance Officer
  
Date: August 6, 2026By: /s/ JAMES CACI        
  James Caci
  Chief Financial Officer
  

 

EXHIBIT 99.1

AvePoint Announces Second Quarter 2026 Financial Results

Second quarter SaaS revenue of $98.5 million, representing 27% year-over-year growth, 26% on a constant currency basis
Second quarter Total revenue of $124.5 million, representing 22% year-over-year growth, 21% on a constant currency basis
Total ARR of $465.1 million, representing 27% year-over-year growth, 24% adjusted for FX

JERSEY CITY, N.J., Aug. 06, 2026 (GLOBE NEWSWIRE) -- AvePoint (Nasdaq: AVPT, SGX: AVP), the unifying Trust Layer for AI, today announced financial results for the second quarter ended June 30, 2026. 

“Our excellent second quarter results reflect the growing demand for trusted AI, as we accelerated topline growth, outperformed all guided metrics, and delivered record net new ARR,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “As organizations rapidly integrate and rely on agentic AI, their need for visibility, governance, and security — for trust in this technology — has only intensified. Because trust is the foundational layer of enterprise AI, AvePoint is uniquely positioned to help organizations deploy intelligent systems with confidence, maximizing business value while minimizing risk. Our continued momentum underscores the strength of our platform and strategy as we capture the significant opportunity ahead.”

Second Quarter 2026 Financial Highlights

  • Revenue: Total revenue was $124.5 million, up 22% from the second quarter of 2025. Within total revenue, SaaS revenue was $98.5 million, up 27% from the second quarter of 2025.
  • Gross Profit: GAAP gross profit was $91.0 million, compared to $75.5 million for the second quarter of 2025. GAAP gross margin was 73.1%, compared to 74.0% for the second quarter of 2025. Non-GAAP gross profit was $91.7 million, compared to $76.3 million for the second quarter of 2025. Non-GAAP gross margin was 73.7%, compared to 74.8% for the second quarter of 2025.
  • Operating Income: GAAP operating income was $10.2 million, compared to $7.1 million for the second quarter of 2025. GAAP operating margin was 8.2%, compared to 7.0% for the second quarter of 2025. Non-GAAP operating income was $20.3 million, compared to $18.8 million for the second quarter of 2025. Non-GAAP operating margin was 16.3%, compared to 18.4% for the second quarter of 2025.
  • Cash and cash equivalents: $417.3 million as of June 30, 2026.
  • Cash from operations: For the six months ended June 30, 2026, the Company generated $40.2 million of cash from operations, compared to $20.8 million in the prior year period.

Second Quarter 2026 Key Performance Indicators and Recent Business Highlights

  • ARR as of June 30, 2026 was $465.1 million, up 27% year-over-year. Adjusted for FX, ARR grew 24%.
  • Dollar-based gross retention rate was 89% on a reported and FX-adjusted basis, while dollar-based net retention rate was 111% on a reported basis and 110% when adjusted for FX.
  • The Company released its third annual State of AI report, finding that organizations lack the trust layer required to scale AI safely, as governance gaps, deployment delays, and AI-generated data are compounding the challenge.
  • The Company announced new advancements to the AvePoint Confidence Platform that extend the trust layer — the connected layer of governance, security, recovery, and backup controls that sits across an organization’s data — to agentic AI, new enterprise applications, and new multicloud infrastructure.

Financial Outlook

The Company is again raising its full-year guidance for annual recurring revenue, and the Company’s updated full-year guidance for revenue and non-GAAP operating income includes the respective second quarter outperformance relative to guidance. Second, the Company is increasing its expense plans for the second half of the year, given the rapidly growing market opportunity and demand for its platform and services. Lastly, the Company’s updated financial guidance reflects the current expected headwind from the fluctuation in foreign exchange rates for all metrics, which more than offset the raise in ARR and the second quarter outperformance for revenue and non-GAAP operating income.

For the third quarter of 2026, the Company expects:

  • Total revenues of $128.2 million to $130.2 million, or year-over-year growth of 18% at the midpoint. On a constant currency basis, the Company expects revenue growth of 19% at the midpoint.
  • Non-GAAP operating income of $21.0 million to $22.0 million.

For the full year 2026, the Company now expects:

  • Total ARR of $522.1 million to $528.1 million, or year-over-year growth of 26% at the midpoint. Adjusted for FX, the Company continues to expect ARR growth of 26% at the midpoint.
  • Total revenues of $508.5 million to $512.5 million, or year-over-year growth of 22% at the midpoint. On a constant currency basis, the Company now expects revenue growth of 21% at the midpoint.
  • Non-GAAP operating income of $86.4 million to $88.4 million.

Quarterly Conference Call

AvePoint will host a conference call today, August 06, 2026, to review its second quarter financial results and to discuss its financial outlook. The call is scheduled to begin at 4:30pm ET. You may access the call and register with a live operator by dialing 1 (833) 816-1428 for US participants and 1 (412) 317-0520 for outside the US. The passcode for the call is 2808027. Investors can also join the webcast here. The webcast will be available live, and a replay will be available following the completion of the live broadcast for approximately 90 days.

About AvePoint

AvePoint is the unifying Trust Layer for AI. AvePoint enables more than 28,000 organizations and 6,000 channel partners to protect, secure, and govern their entire AI estate across data, infrastructure, AI and agents for Microsoft, Google, Salesforce, and other leading cloud environments — so that enterprises can deploy AI with confidence and scale innovation without scaling risk. To learn more, visit www.avepoint.com.

Non-GAAP Financial Measures and Other Key Metrics

To supplement AvePoint’s consolidated financial statements presented in accordance with GAAP, the Company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (including percentage of revenue figures), non-GAAP operating income and non-GAAP operating margin, and key metrics include annual recurring revenue, dollar-based gross retention rate, and dollar-based net retention rate. The Company has included a reconciliation of GAAP to non-GAAP financial measures at the end of this press release. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, the amortization of acquired intangible assets and expenses related to the secondary listing on the SGX-ST and the Company’s decision to discontinue its participation in a growth equity fund. The Company believes the presentation of its non-GAAP financial measures provides a better representation as to its overall operating performance. The presentation of AvePoint’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for its financial results prepared in accordance with GAAP, and AvePoint’s non-GAAP measures may be different from non-GAAP measures used by other companies.

Annual Recurring Revenue. This metric is calculated as the annualized sum of contractually obligated Annual Contract Value (“ACV”) from SaaS and term license and support revenue sources from all active customers at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or replace these items. ARR is not a forecast of future revenue, and the active contracts used in calculating ARR may or may not be extended or renewed by our customers. The Company believes this metric further enables measurement of its business performance, is an important metric for financial forecasting and better enables strategic decision making. Because this metric does not have the effect of providing a numerical measure that is different from any comparable GAAP measure, the Company does not consider it a non-GAAP measure.

Dollar-based Gross Retention Rate. This metric is calculated by starting with the ARR from all active customers as of 12 months prior to such period end, or Prior Period ARR. The Company then calculates ARR from these same customers as of the current period end, or Current Period ARR. Current Period ARR includes net contraction or attrition over the last 12 months but excludes ARR from new customers in the current period. The Company then divides the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based gross retention rate. The Company uses this metric as a measure of its ability to retain existing customers, and believes it is useful to investors for the same reason. Because this metric does not have the effect of providing a numerical measure that is different from any comparable GAAP measure, the Company does not consider it a non-GAAP measure.

Dollar-based Net Retention Rate. This metric is calculated by starting with the ARR from all active customers as of 12 months prior to such period end, or Prior Period ARR. The Company then calculates ARR from these same customers as of the current period end, or Current Period ARR. Current Period ARR includes net expansion over the last 12 months but excludes ARR from new customers in the current period. The Company then divides the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based net retention rate. The Company uses this metric as a measure of its ability to expand business with existing customers, and believes it is useful to investors for the same reason. Because this metric does not have the effect of providing a numerical measure that is different from any comparable GAAP measure, the Company does not consider it a non-GAAP measure.

Guidance for non-GAAP financial measures excludes, as applicable, share-based compensation expense and the amortization of intangible assets related to acquisitions. A reconciliation of the guidance for non-GAAP financial measures to the corresponding GAAP measures is not available on a forward-looking basis due to the uncertainty regarding, and the potential variability and significance of, the amounts of share-based compensation expense and amortization of intangible assets related to acquisitions that are excluded from the guidance, as well as changes in interest rates and foreign exchange rates, which impact other GAAP performance metrics. Accordingly, a reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures for future periods is not available without unreasonable effort.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K. Copies of this and other documents filed by AvePoint from time to time are available on the SEC's website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Unless the context otherwise indicates, references in this press release to the terms “AvePoint,” “the Company,” “we,” “our” and “us” refer to AvePoint, Inc. and its subsidiaries.

Disclosure Information
AvePoint uses the https://www.avepoint.com/ir website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Investor Contact
AvePoint
Jamie Arestia
ir@avepoint.com
(551) 220-5654

Media Contact
AvePoint
Nicole Caci
pr@avepoint.com
(201) 201-8143


AvePoint, Inc.
Condensed Consolidated Statements of Income
(In thousands, except per share amounts)
(Unaudited)
      
 Three Months Ended  Six Months Ended 
 June 30,  June 30, 
 2026  2025  2026  2025 
Revenue:               
SaaS$98,511  $77,317  $191,893  $146,259 
Term license and support 10,245   10,215   19,564   23,400 
Services 15,739   14,486   30,280   25,423 
Total revenue 124,495   102,018   241,737   195,082 
Cost of revenue:               
SaaS 17,760   14,023   34,522   26,560 
Term license and support 388   536   669   1,100 
Services 15,341   11,920   30,171   22,718 
Total cost of revenue 33,489   26,479   65,362   50,378 
Gross profit 91,006   75,539   176,375   144,704 
Operating expenses:               
Sales and marketing 45,542   35,773   87,552   70,295 
General and administrative 18,677   19,712   35,549   38,379 
Research and development 16,563   12,960   30,323   25,649 
Total operating expenses 80,782   68,445   153,424   134,323 
Income from operations 10,224   7,094   22,951   10,381 
Other income (loss), net 1,787   (240)  5,597   1,346 
Income before income taxes 12,011   6,854   28,548   11,727 
Income tax (benefit) expense (15,559)(1)  3,961   (14,272)(1)  5,268 
Net income$27,570  $2,893  $42,820  $6,459 
Net income attributable to noncontrolling interest —   195   —   321 
Net income available to common stockholders$27,570  $2,698  $42,820  $6,138 
Net income per share:               
Basic$0.13  $0.01  $0.20  $0.03 
Diluted$0.12  $0.01  $0.19  $0.03 
Weighted average shares outstanding:               
Basic 210,204   205,068   211,727   201,516 
Diluted 220,856   229,179   223,517   226,951 

(1)  Includes an income tax benefit of $19.9 million related to the release of a previously recorded valuation allowance on certain deferred tax assets.



AvePoint, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except par value)
(Unaudited)
      
 June 30,  December 31, 
 2026  2025 
Assets       
Current assets:       
Cash and cash equivalents$417,250  $481,060 
Accounts receivable, net 116,993   124,526 
Prepaid expenses and other current assets 23,249   19,726 
Total current assets 557,492   625,312 
Property and equipment, net 6,795   6,020 
Goodwill 36,779   37,986 
Intangible assets, net 11,113   12,052 
Operating lease right-of-use assets 26,154   16,824 
Deferred contract costs 74,305   71,257 
Other assets 44,365   19,730 
Total assets$757,003  $789,181 
Liabilities and stockholders’ equity       
Current liabilities:       
Accounts payable$3,313  $3,805 
Accrued expenses and other current liabilities 77,518   84,191 
Current portion of deferred revenue 198,096   185,696 
Total current liabilities 278,927   273,692 
Long-term operating lease liabilities 16,310   9,949 
Long-term portion of deferred revenue 14,975   15,260 
Other liabilities 9,917   11,581 
Total liabilities 320,129   310,482 
Commitments and contingencies       
Stockholders’ equity       
Common stock, $0.0001 par value; 1,000,000 shares authorized, 211,431 and 215,076 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 21   22 
Additional paid-in capital 962,907   980,389 
Accumulated other comprehensive income 5,676   8,366 
Accumulated deficit (531,730)  (510,078)
Total stockholders’ equity 436,874   478,699 
Total liabilities and stockholders’ equity$757,003  $789,181 



AvePoint, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
   
 Six Months Ended 
 June 30, 
 2026  2025 
Operating activities       
Net income$42,820  $6,459 
Adjustments to reconcile net income to net cash provided by operating activities:       
Depreciation and amortization 3,373   3,126 
Operating lease right-of-use assets expense 4,763   4,301 
Foreign currency remeasurement (gain) loss (1,556)  4,053 
Stock-based compensation 16,842   20,763 
Deferred income taxes (20,171)  (155)
Other 2,007   1,091 
Change in value of warrant liabilities —   (408)
Changes in operating assets and liabilities:       
Accounts receivable 5,957   285 
Prepaid expenses and other current assets (3,639)  2,591 
Deferred contract costs and other assets (8,597)  (5,438)
Accounts payable, accrued expenses and other current liabilities, and other liabilities (11,617)  (19,730)
Operating lease liabilities (4,685)  (4,142)
Deferred revenue 14,705   7,969 
Net cash provided by operating activities 40,202   20,765 
Investing activities       
Maturities of investments 145   — 
Purchases of investments (128)  — 
Capitalization of internal-use software (965)  (812)
Purchase of property and equipment (2,484)  (2,479)
Cash paid in business combinations, net of cash acquired —   (14,893)
Net cash used in investing activities (3,432)  (18,184)
Financing activities       
Purchase of common stock (110,325)  (18,954)
Proceeds from warrant exercises —   157,723 
Proceeds from stock option exercises 12,485   8,029 
Repurchase of noncontrolling interest (1,843)  (12,148)
Other financing activities (3)  (4)
Net cash (used in) provided by financing activities (99,686)  134,646 
Effect of exchange rates on cash (894)  1,854 
Net (decrease) increase in cash and cash equivalents (63,810)  139,081 
Cash and cash equivalents at beginning of period 481,060   290,735 
Cash and cash equivalents at end of period$417,250  $429,816 
Supplemental disclosures of cash flow information       
Income taxes paid$8,614  $2,411 
Unpaid purchase consideration transferred in connection with the business combination$—  $5,499 
Unpaid purchase of common stock$561  $— 
Receivable proceeds from warrant exercises$—  $1,747 



AvePoint, Inc.
Non-GAAP Reconciliations
(In thousands)
(Unaudited)
      
 Three Months Ended  Six Months Ended 
 June 30,  June 30, 
 2026  2025  2026  2025 
Non-GAAP operating income               
GAAP operating income$10,224  $7,094  $22,951  $10,381 
GAAP operating margin 8.2%  7.0%  9.5%  5.3%
Stock-based compensation expense 9,572   11,143   16,842   20,763 
Amortization of acquired intangible assets 479   546   961   1,012 
Non-GAAP operating income$20,275  $18,783  $40,754  $32,156 
Non-GAAP operating margin 16.3%  18.4%  16.9%  16.5%
                
                
                
Non-GAAP gross profit               
GAAP gross profit$91,006  $75,539  $176,375  $144,704 
GAAP gross margin 73.1%  74.0%  73.0%  74.2%
Stock-based compensation expense 380   399   717   741 
Amortization of acquired intangible assets 342   399   687   732 
Non-GAAP gross profit$91,728  $76,337  $177,779  $146,177 
Non-GAAP gross margin 73.7%  74.8%  73.5%  74.9%
                
Non-GAAP sales and marketing               
GAAP sales and marketing$45,542  $35,773  $87,552  $70,295 
Stock-based compensation expense (3,152)  (2,842)  (5,467)  (5,168)
Amortization of acquired intangible assets (137)  (147)  (274)  (280)
Non-GAAP sales and marketing$42,253  $32,784  $81,811  $64,847 
Non-GAAP sales and marketing as a % of revenue 33.9%  32.1%  33.8%  33.2%
                
Non-GAAP general and administrative               
GAAP general and administrative$18,677  $19,712  $35,549  $38,379 
Stock-based compensation expense (4,276)  (5,580)  (7,281)  (10,334)
Non-GAAP general and administrative$14,401  $14,132  $28,268  $28,045 
Non-GAAP general and administrative as a % of revenue 11.6%  13.9%  11.7%  14.4%
                
Non-GAAP research and development               
GAAP research and development$16,563  $12,960  $30,323  $25,649 
Stock-based compensation expense (1,764)  (2,322)  (3,377)  (4,520)
Non-GAAP research and development$14,799  $10,638  $26,946  $21,129 
Non-GAAP research and development as a % of revenue 11.9%  10.4%  11.1%  10.8%


Source: View Original Filing on SEC EDGAR

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