AvePoint Announces Third Quarter 2025 Financial Results

Third quarter SaaS revenue of $84.0 million, representing 38% year-over-year growth, 35% on a constant currency basis
Third quarter Total revenue of $109.7 million, representing 24% year-over-year growth, 21% on a constant currency basis
Total ARR of $390.0 million, representing 26% year-over-year growth

JERSEY CITY, N.J., Nov. 06, 2025 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT, SGX: AVP), the global leader in data security, governance and resilience, today announced financial results for the third quarter ended September 30, 2025.

“Highlighted by record quarterly net new ARR, non-GAAP operating profitability and operating cash flow generation, our third quarter results demonstrate our ability to deliver on the growing demand from our customers and partners to tackle the most pressing AI-related data security and governance challenges,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “Our platform-driven approach to governing and securing data, coupled with our ongoing innovation, especially as agentic AI intensifies existing data management challenges, uniquely positions AvePoint to lead, and we are excited for a strong close to 2025.”

Third Quarter 2025 Financial Highlights

Revenue: Total revenue was $109.7 million, up 24% from the third quarter of 2024. Within total revenue, SaaS revenue was $84.0 million, up 38% from the third quarter of 2024.
Gross Profit: GAAP gross profit was $81.6 million, compared to $67.6 million for the third quarter of 2024. GAAP gross margin was 74.4%, compared to 76.1% for the third quarter of 2024. Non-GAAP gross profit was $82.4 million, compared to $68.4 million for the third quarter of 2024. Non-GAAP gross margin was 75.1%, compared to 77.0% for the third quarter of 2024.
Operating Income/(Loss): GAAP operating income was $8.1 million, compared to $7.7 million for the third quarter of 2024. GAAP operating margin was 7.4%, compared to 8.6% in the third quarter of 2024. Non-GAAP operating income was $24.1 million, compared to $17.8 million for the third quarter of 2024. Non-GAAP operating margin was 22.0%, compared to 20.1% in the third quarter of 2024.
Cash, cash equivalents and short-term investments: $472.0 million as of September 30, 2025.
Cash from operations: For the nine months ended September 30, 2025, the Company generated $55.6 million of cash from operations, compared to $56.1 million generated in the prior year period.

Third Quarter 2025 Key Performance Indicators and Recent Business Highlights

ARR as of September 30, 2025 was $390.0 million, up 26% year-over-year, both on a reported basis and when adjusted for FX.
Dollar-based gross retention rate was 88%, while dollar-based net retention rate was 110%, both on a reported basis and when adjusted for FX.
Announced new data protection solutions for Monday.com, Docusign, Smartsheet, Okta, Confluence, and Google Virtual Machines; deeper visibility into the lifecycle and compliance of Copilot Studio Agents; and a new Operational Efficiency Command Center, which helps companies centralize, streamline and track the impact of data governance practices.
Launched enhanced points-based Global Partner Program aimed at accelerating growth through an ecosystem that rewards active participation, tracks meaningful performance, and equips partners with the resources needed for success.
Announced its listing on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) under the symbol “AVP”, making AvePoint the first B2B SaaS stock to be listed on the SGX-ST and the first company to be dual listed on both Nasdaq and the SGX-ST.

Financial Outlook
The Company is raising its full-year guidance for revenue and non-GAAP operating income, which includes the respective third quarter outperformance relative to guidance, as well as incremental raises for both metrics.

For the fourth quarter of 2025, the Company expects:

Total revenues of $110.0 million to $112.0 million, or year-over-year growth of 23% to 26%. On a constant currency basis, the Company expects revenue growth of 20% to 23%.
Non-GAAP operating income of $21.0 million to $22.0 million.

For the full year 2025, the Company now expects:

Total ARR of $412.8 million to $418.8 million, or year-over-year growth of 26% to 28%. Adjusted for FX, the Company expects ARR growth of 24% to 26%.
Total revenues of $414.8 million to $416.8 million, or year-over-year growth of 25.5% to 26.1%. On a constant currency basis, the Company expects revenue growth of 23.5% to 24.1%.
Non-GAAP operating income of $77.3 million to $78.3 million, or a non-GAAP operating margin of 18.6% to 18.8%, representing year-over-year margin expansion of nearly 430 basis points.

Quarterly Conference Call

AvePoint will host a conference call today, November 6, 2025, to review its third quarter 2025 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 2236745. 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

Beyond Secure. AvePoint is the global leader in data security, governance, and resilience, going beyond traditional solutions to ensure a robust data foundation and enable organizations everywhere to collaborate with confidence. Over 25,000 customers worldwide rely on the AvePoint Confidence Platform to prepare, secure, and optimize their critical data across Microsoft, Google, Salesforce, and other collaboration environments. AvePoint’s global channel partner program includes approximately 5,000 managed service providers, value-added resellers, and systems integrators, with our solutions available in more than 100 cloud marketplaces. 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, term license and support, and maintenance 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 and Quarterly Report on Form 10-Q. Copies of these 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 (Loss) (In thousands, except per share amounts) (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2025			2024			2025		2024
Revenue:
SaaS	$	83,982		$	60,866		$	230,241	$	165,820
Term license and support		11,143			14,140			31,255		35,128
Services		13,766			10,810			39,189		31,808
Maintenance		837			2,988			4,125		8,543
Total revenue		109,728			88,804			304,810		241,299
Cost of revenue:
SaaS		14,596			10,624			41,156		30,139
Term license and support		278			373			1,074		1,202
Services		13,255			10,057			35,973		28,777
Maintenance		16			167			320		487
Total cost of revenue		28,145			21,221			78,523		60,605
Gross profit		81,583			67,583			226,287		180,694
Operating expenses:
Sales and marketing		35,593			30,050			105,888		90,459
General and administrative		23,925			17,043			62,304		52,095
Research and development		13,936			12,838			39,585		35,827
Total operating expenses		73,454			59,931			207,777		178,381
Income from operations		8,129			7,652			18,510		2,313
Other income (expense), net		4,678			(4,541	)		6,024		(8,107	)
Income (loss) before income taxes		12,807			3,111			24,534		(5,794	)
Income tax (benefit) expense		(210	)		183			5,058		6,170
Net income (loss)	$	13,017		$	2,928		$	19,476	$	(11,964	)
Net income (loss) attributable to noncontrolling interest		—			308			321		(59	)
Net income (loss) available to common stockholders	$	13,017		$	2,620		$	19,155	$	(11,905	)
Net income (loss) per share:
Basic	$	0.06		$	0.01		$	0.09	$	(0.07	)
Diluted	$	0.06		$	0.01		$	0.08	$	(0.07	)
Weighted average shares outstanding:
Basic		212,001			183,946			205,049		182,753
Diluted		232,897			203,859			228,985		182,753

AvePoint, Inc. Condensed Consolidated Balance Sheets (In thousands, except par value) (Unaudited)

	September 30,			December 31,
	2025			2024
Assets
Current assets:
Cash and cash equivalents	$	471,640		$	290,735
Accounts receivable, net		90,884			87,365
Prepaid expenses and other current assets		18,169			16,695
Total current assets		580,693			394,795
Property and equipment, net		6,140			5,289
Goodwill		37,908			17,715
Intangible assets, net		12,349			8,889
Operating lease right-of-use assets		18,380			15,954
Deferred contract costs		65,304			59,838
Other assets		22,741			16,575
Total assets	$	743,515		$	519,055
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	2,519		$	2,352
Accrued expenses and other current liabilities		83,200			76,135
Current portion of deferred revenue		159,136			144,468
Total current liabilities		244,855			222,955
Long-term operating lease liabilities		11,344			9,909
Long-term portion of deferred revenue		15,066			8,840
Other liabilities		5,441			6,403
Total liabilities		276,706			248,107
Commitments and contingencies
Stockholders’ equity
Common stock, $0.0001 par value; 1,000,000 shares authorized, 212,588 and 194,071 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		21			19
Additional paid-in capital		970,918			779,007
Accumulated other comprehensive income		6,744			576
Accumulated deficit		(510,874	)		(510,448	)
Noncontrolling interest		—			1,794
Total stockholders’ equity		466,809			270,948
Total liabilities and stockholders’ equity	$	743,515		$	519,055

AvePoint, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited)

	Nine Months Ended
	September 30,
	2025			2024
Operating activities
Net income (loss)	$	19,476		$	(11,964	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		4,642			4,020
Operating lease right-of-use assets expense		6,400			4,975
Foreign currency remeasurement loss		4,302			1,212
Stock-based compensation		31,441			29,807
Deferred income taxes		(3,617	)		(235	)
Allowance for credit loss on notes receivables		4,037			—
Other		78			(4	)
Change in value of earn-out and warrant liabilities		(408	)		11,717
Changes in operating assets and liabilities:
Accounts receivable		2,210			6,873
Prepaid expenses and other current assets		(972	)		1,767
Deferred contract costs and other assets		(8,616	)		(3,280	)
Accounts payable, accrued expenses, other current liabilities, operating lease liabilities and other liabilities		(16,167	)		(598	)
Deferred revenue		12,792			11,844
Net cash provided by operating activities		55,598			56,134
Investing activities
Maturities of investments		140			5,361
Purchases of investments		(140	)		(1,850	)
Repurchase of noncontrolling interest		(12,148	)		—
Capitalization of internal-use software		(1,162	)		(947	)
Purchase of property and equipment		(2,986	)		(2,303	)
Issuance of notes receivables		—			(1,500	)
Cash paid in business combinations, net of cash acquired		(14,893	)		—
Other investing activities		—			(130	)
Net cash used in investing activities		(31,189	)		(1,369	)
Financing activities
Purchase of common stock		(27,309	)		(21,704	)
Proceeds from warrant exercises		168,189			—
Proceeds from stock option exercises		8,519			3,613
Funds held on behalf of others		6,064			—
Redemption of redeemable noncontrolling interest		—			(6,130	)
Purchase of public warrants		—			(3,991	)
Repayments of finance leases		(5	)		(6	)
Redemption of warrants		(2	)		—
Net cash provided by (used in) financing activities		155,456			(28,218	)
Effect of exchange rates on cash		1,040			94
Net increase in cash and cash equivalents		180,905			26,641
Cash and cash equivalents at beginning of period		290,735			223,162
Cash and cash equivalents at end of period	$	471,640		$	249,803
Supplemental disclosures of cash flow information
Income taxes paid	$	4,700		$	5,552
Unpaid purchase consideration transferred in connection with the business combination	$	5,499		$	—

AvePoint, Inc. Non-GAAP Reconciliations (In thousands) (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2025			2024			2025			2024
Non-GAAP operating income
GAAP operating income	$	8,129		$	7,652		$	18,510		$	2,313
GAAP operating margin		7.4	%		8.6	%		6.1	%		1.0	%
Stock-based compensation expense		10,678			9,811			31,441			29,807
Amortization of acquired intangible assets		477			362			1,489			1,064
Secondary listing costs		2,941			—			2,941			—
Discontinuation of growth equity fund		1,917			—			1,917			—
Non-GAAP operating income	$	24,142		$	17,825		$	56,298		$	33,184
Non-GAAP operating margin		22.0	%		20.1	%		18.5	%		13.8	%



Non-GAAP gross profit
GAAP gross profit	$	81,583		$	67,583		$	226,287		$	180,694
GAAP gross margin		74.4	%		76.1	%		74.2	%		74.9	%
Stock-based compensation expense		409			530			1,150			1,516
Amortization of acquired intangible assets		360			242			1,092			722
Non-GAAP gross profit	$	82,352		$	68,355		$	228,529		$	182,932
Non-GAAP gross margin		75.1	%		77.0	%		75.0	%		75.8	%

Non-GAAP sales and marketing
GAAP sales and marketing	$	35,593		$	30,050		$	105,888		$	90,459
Stock-based compensation expense		(2,679	)		(2,186	)		(7,847	)		(6,684	)
Amortization of acquired intangible assets		(117	)		(120	)		(397	)		(342	)
Non-GAAP sales and marketing	$	32,797		$	27,744		$	97,644		$	83,433
Non-GAAP sales and marketing as a % of revenue		29.9	%		31.2	%		32.0	%		34.6	%

Non-GAAP general and administrative
GAAP general and administrative	$	23,925		$	17,043		$	62,304		$	52,095
Stock-based compensation expense		(5,515	)		(4,925	)		(15,849	)		(15,451	)
Secondary listing costs		(2,941	)		—			(2,941	)		—
Discontinuation of growth equity fund		(1,917	)		—			(1,917	)		—
Non-GAAP general and administrative	$	13,552		$	12,118		$	41,597		$	36,644
Non-GAAP general and administrative as a % of revenue		12.4	%		13.6	%		13.6	%		15.2	%

Non-GAAP research and development
GAAP research and development	$	13,936		$	12,838		$	39,585		$	35,827
Stock-based compensation expense		(2,075	)		(2,170	)		(6,595	)		(6,156	)
Non-GAAP research and development	$	11,861		$	10,668		$	32,990		$	29,671
Non-GAAP research and development as a % of revenue		10.8	%		12.0	%		10.8	%		12.3	%

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