AvePoint Announces Fourth Quarter and Full Year 2025 Financial Results

Full year SaaS revenue of $319.2 million, representing 38% year-over-year growth, 36% on a constant currency basis
Full year Total revenue of $419.5 million, representing 27% year-over-year growth, 25% on a constant currency basis
Total ARR of $416.8 million, representing 27% year-over-year growth, 26% adjusted for FX

JERSEY CITY, N.J., Feb. 26, 2026 (GLOBE NEWSWIRE) -- AvePoint (Nasdaq: AVPT, SGX: AVP), the global leader in AI data protection, unifying security, governance and resilience, today announced financial results for the fourth quarter and full year ended December 31, 2025. 

“In the fourth quarter we accelerated revenue growth, achieved double-digit GAAP operating margins, and delivered our 11

straight quarter of double-digit net new ARR growth, closing 2025 from a clear position of strength and highlighting our ability to deliver durable value to companies around the world,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “As organizations prepare to deploy AI at scale, the need for a secure, governed, and resilient data foundation will only become more structurally important, and our platform technology, domain expertise, extensive partnerships, and global scale and distribution provide a durable competitive moat. We are excited to capitalize on this enormous market opportunity in 2026 and beyond.”

Fourth Quarter 2025 Financial Highlights

• Revenue: Total revenue was $114.7 million, up 29% from the fourth quarter of 2024. Within total revenue, SaaS revenue was $88.9 million, up 37% from the fourth quarter of 2024.
  
• Gross Profit: GAAP gross profit was $84.4 million, compared to $67.3 million for the fourth quarter of 2024. GAAP gross margin was 73.6%, compared to 75.4% for the fourth quarter of 2024. Non-GAAP gross profit was $85.1 million, compared to $67.3 million for the fourth quarter of 2024. Non-GAAP gross margin was 74.2%, compared to 75.5% for the fourth quarter of 2024.
  
• Operating Income: GAAP operating income was $14.5 million, compared to $4.9 million for the fourth quarter of 2024. GAAP operating margin was 12.7%, compared to 5.4% for the fourth quarter of 2024. Non-GAAP operating income was $22.9 million, compared to $14.5 million for the fourth quarter of 2024. Non-GAAP operating margin was 19.9%, compared to 16.2% for the fourth quarter of 2024.
  
  

Full Year 2025 Financial Highlights

• Revenue: Total revenue was $419.5 million, up 27% from the full year 2024. Within total revenue, SaaS revenue was $319.2 million, up 38% from the full year 2024.
  
• Gross Profit: GAAP gross profit was $310.7 million, compared to $248.0 million for the full year 2024. GAAP gross margin was 74.1%, compared to 75.0% for the full year 2024. Non-GAAP gross profit was $313.6 million, compared to $250.2 million for the full year 2024. Non-GAAP gross margin was 74.8%, compared to 75.7% for the full year 2024.
  
• Operating Income: GAAP operating income was $33.0 million, compared to $7.2 million for the full year 2024. GAAP operating margin was 7.9%, compared to 2.2% for the full year 2024. Non-GAAP operating income was $79.2 million, compared to $47.6 million for the full year 2024. Non-GAAP operating margin was 18.9%, compared to 14.4% for the full year 2024.
  
• Cash and cash equivalents: $481.1 million as of December 31, 2025.
  
• Cash from operations: For the twelve months ended December 31, 2025, the Company generated $85.3 million of cash from operations, compared to $88.9 million generated in the prior year period.
  
  

Fourth Quarter 2025 Key Performance Indicators and Recent Business Highlights

• ARR as of December 31, 2025 was $416.8 million, up 27% year-over-year. Adjusted for FX, ARR grew 26%.
  
• Dollar-based gross retention rate was 88% 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.
  
• Announced new agentic AI governance and data protection features for the AvePoint Confidence Platform, including a new risk definition for AI agents and expanded support for multi‑SaaS backup, IaaS, and PaaS sources, to provide organizations with more information about agent security posture and help them use agentic AI tools safely and efficiently.
  
• Launched the AgentPulse Command Center, giving organizations total visibility into the security posture of agentic AI tools by tracking AI agents in one place, to manage security threats and financial expenses without sacrificing innovation and productivity.
  
• Announced a global partnership with the International Association of Microsoft Channel Partners (IAMCP), the world’s leading professional association for Microsoft partners, empowering members to expand their services business and scale operations through AvePoint Elements and with access to AvePoint Partner Program enablement offerings.
  
  

Financial Outlook

The Company’s 2026 financial guidance for total ARR, total revenue and non-GAAP operating income is below. The Company’s guidance for 2026 ARR growth represents an acceleration relative to 2025, after adjusting for the acquisition of Ydentic in the first quarter of 2025. Additionally, while guidance for non-GAAP operating income reflects increased investments aimed at strengthening the Company’s go-to-market strategies, the Company expects that its ongoing management of stock-based compensation will drive year-over-year expansion of GAAP operating margins.

For the first quarter of 2026, the Company expects:

• Total revenues of $115.0 million to $117.0 million, or year-over-year growth of 25% at the midpoint. On a constant currency basis, the Company expects revenue growth of 20% at the midpoint.
• Non-GAAP operating income of $19.5 million to $20.5 million.
  
  

For the full year 2026, the Company expects:

• Total ARR of $525.1 million to $531.1 million, or year-over-year growth of 27% at the midpoint. Adjusted for FX, the Company expects ARR growth of 26% at the midpoint.
• Total revenues of $509.4 million to $517.4 million, or year-over-year growth of 22% at the midpoint. On a constant currency basis, the Company expects revenue growth of 20% at the midpoint.
• Non-GAAP operating income of $92.6 million to $96.6 million.
  
  

Quarterly Conference Call

AvePoint will host a conference call today, February 26, 2026, to review its fourth quarter and full year 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 9713106. Investors can also join the webcast. 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 global leader in data protection, unifying data security, governance, and resilience to provide a trusted foundation for AI. More than 28,000 customers rely on the AvePoint Confidence Platform to secure, govern, and rapidly recover data across Microsoft, Google, Salesforce, and other cloud environments. With a single platform for lifecycle control, multicloud governance, and rapid recovery paired with clear ownership across the business, we prevent overexposure and sprawl, modernize legacy and fragmented data, and minimize data loss and interruption. Our global partner ecosystem includes approximately 6,000 MSPs, VARs, and SIs, and our solutions are available in over 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

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								Year Ended
		December 31,								December 31,
		2025				2024				2025				2024
Revenue:
SaaS		$	88,926			$	64,847			$	319,167			$	230,667
Term license and support			10,131				9,432				41,386				44,560
Services			14,650				12,228				53,839				44,036
Maintenance			980				2,676				5,105				11,219
Total revenue			114,687				89,183				419,497				330,482
Cost of revenue:
SaaS			16,146				11,405				57,302				41,544
Term license and support			286				382				1,360				1,584
Services			13,791				9,980				49,764				38,757
Maintenance			55				154				375				641
Total cost of revenue			30,278				21,921				108,801				82,526
Gross profit			84,409				67,262				310,696				247,956
Operating expenses:
Sales and marketing			38,138				32,410				144,026				122,869
General and administrative			18,746				17,127				81,050				69,222
Research and development			13,000				12,872				52,585				48,699
Total operating expenses			69,884				62,409				277,661				240,790
Income from operations			14,525				4,853				33,035				7,166
Other income (expense), net			1,442				(23,458	)			7,466				(31,565	)
Income (loss) before income taxes			15,967				(18,605	)			40,501				(24,399	)
Income tax expense (benefit)			323				(1,427	)			5,381				4,743
Net income (loss)		$	15,644			$	(17,178	)		$	35,120			$	(29,142	)
Net income (loss) attributable to noncontrolling interest			—				7				321				(52	)
Net income (loss) available to common stockholders		$	15,644			$	(17,185	)		$	34,799			$	(29,090	)
Net income (loss) per share:
Basic		$	0.07			$	(0.09	)		$	0.17			$	(0.16	)
Diluted		$	0.07			$	(0.09	)		$	0.15			$	(0.16	)
Weighted average shares outstanding:
Basic			215,117				186,605				207,587				183,721
Diluted			231,225				186,605				229,293				183,721

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

		December 31,				December 31,
		2025				2024
Assets
Current assets:
Cash and cash equivalents		$	481,060			$	290,735
Accounts receivable, net			124,526				87,365
Prepaid expenses and other current assets			19,726				16,695
Total current assets			625,312				394,795
Property and equipment, net			6,020				5,289
Goodwill			37,986				17,715
Intangible assets, net			12,052				8,889
Operating lease right-of-use assets			16,824				15,954
Deferred contract costs			71,257				59,838
Other assets			19,730				16,575
Total assets		$	789,181			$	519,055
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	3,805			$	2,352
Accrued expenses and other current liabilities			84,191				76,135
Current portion of deferred revenue			185,696				144,468
Total current liabilities			273,692				222,955
Long-term operating lease liabilities			9,949				9,909
Long-term portion of deferred revenue			15,260				8,840
Other liabilities			11,581				6,403
Total liabilities			310,482				248,107
Commitments and contingencies
Stockholders’ equity
Common stock, $0.0001 par value; 1,000,000 shares authorized, 215,076 and 194,071 shares issued and outstanding as of December 31, 2025 and 2024, respectively			22				19
Additional paid-in capital			980,389				779,007
Accumulated other comprehensive income			8,366				576
Accumulated deficit			(510,078	)			(510,448	)
Noncontrolling interest			—				1,794
Total stockholders’ equity			478,699				270,948
Total liabilities and stockholders’ equity		$	789,181			$	519,055

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

		Year Ended
		December 31,
		2025				2024

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

Three Months Ended

Year Ended