Download PDF

1. Company Snapshot

1.a. Company Description

AvePoint, Inc.provides Microsoft 365 data management solutions worldwide.It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products.


The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.In addition, the company offers software solutions for Microsoft 365, including microsoft teams, sharepoint online, exchange online, onedrive, project online, planner, yammer and other public folders.The company was incorporated in 2001 and is headquartered in Jersey City, New Jersey.

Show Full description

1.b. Last Insights on AVPT

AvePoint's recent performance was negatively impacted by a Q4 loss of $0.04 per share, surpassing the Zacks Consensus Estimate of $0.06. This decline in profitability contrasts with the company's Q3 performance. Despite strong revenue growth, with full-year SaaS revenue increasing 43% year-over-year, AvePoint's profitability may not have kept pace. The company's recent product launches, including the Risk Posture Command Center and the next generation of Elements, aim to enhance data security posture management and automate insights, but their immediate impact on profitability is unclear.

1.c. Company Highlights

2. AvePoint's Strong Q3 2025 Earnings: A Closer Look

AvePoint reported a robust third quarter 2025, with total revenues reaching $109.7 million, a 24% year-over-year increase and 3% above guidance. SaaS revenue was $84 million, growing 38% year-over-year, and represented 77% of total revenues. The company's non-GAAP operating income was $24.1 million, or an operating margin of 22%, while the gross margin stood at 75.1%. Earnings per share (EPS) came in at $0.1, beating estimates of $0.07. The company's financial performance was further bolstered by a record net new ARR of $22.4 million, with total ARR reaching $390 million, up 26% year-over-year.

Publication Date: Nov -17

📋 Highlights
  • Total Revenue Growth:: Q3 revenue reached $109.7M, up 24% YoY and 3% above guidance, driven by $84M in SaaS revenue (38% YoY growth, 77% of total revenue).
  • ARR Expansion:: Achieved record net new ARR of $22.4M, with total ARR hitting $390M (26% YoY growth), and raised full-year ARR guidance to $412.8M–$418.8M.
  • Financial Improvements:: Non-GAAP operating income reached $24.1M (22% margin) and gross margin hit 75.1%, with $472M in cash and cash equivalents.
  • Global Growth:: SaaS revenue grew 36% in North America, 42% in EMEA, and 34% in APAC YoY, outpacing the 20%+ overall growth target.

Regional Performance and Customer Retention

Regional performance was strong, with North America SaaS revenues growing 36% year-over-year, EMEA SaaS revenues growing 42%, and APAC SaaS revenues growing 34%. Customer retention rates remained steady, with a dollar-based trailing 12-month gross retention rate of 88% and a net retention rate of 110%. The company's customer wins, including a Fortune 500 company replacing manual data governance solutions with AvePoint's Control Plus bundle, demonstrated its ability to deepen existing relationships and acquire new logos.

Guidance and Outlook

AvePoint raised its full-year revenue and non-GAAP operating income guidance, expecting total revenues of $414.8 million to $416.8 million, or growth of 25.8% at the midpoint, and non-GAAP operating income of $77.3 million to $78.3 million, or an operating margin of 18.7% at the midpoint. The company continues to expect total ARR of $412.8 million to $418.8 million, or growth of 27% at the midpoint. Analysts estimate next year's revenue growth at 17.8%.

Valuation and Growth Prospects

With a P/S Ratio of 7.13 and an EV/EBITDA of 77.87, AvePoint's valuation suggests that the market is pricing in significant growth prospects. The company's long-term goal is to reach $1 billion in ARR by 2029, with a non-Microsoft revenue contribution potentially as high as 30%. AvePoint's focus on AI governance and its incorporation of AI into its platform are expected to drive efficiencies and growth.

Challenges and Opportunities

The company faced some challenges in Q3, particularly in the federal sector, where some churn and weaker upsell activity affected its gross and net retention rates. However, AvePoint remains confident about its growth prospects, driven by its expanding direct and indirect channels, and its profitable growth strategy. The MSP vertical continues to be the fastest-growing segment, and the company has seen an improvement in average contract length over the past year.

3. NewsRoom

Card image cap

AvePoint, Inc. (AVPT) Presents at UBS Global Technology and AI Conference 2025 Transcript

Dec -02

Source: seekingalpha.com

Card image cap

AvePoint: Upcoming Revenue Expansion And Demand Acceleration May Not Result In Much Upside

Nov -20

Source: seekingalpha.com

Card image cap

AvePoint Launches New AvePoint AgentPulse Command Center to Bring Security Controls to AI Agents

Nov -18

Source: globenewswire.com

Card image cap

AvePoint (AVPT) Upgraded to Strong Buy: Here's What You Should Know

Nov -17

Source: zacks.com

Card image cap

New Strong Buy Stocks for Nov. 17: ROKU, AVPT, and More

Nov -17

Source: zacks.com

Card image cap

AvePoint, Inc. (NASDAQ:AVPT) Given Average Rating of “Moderate Buy” by Analysts

Nov -17

Source: defenseworld.net

Card image cap

AvePoint to Participate in Upcoming Investor Conferences

Nov -12

Source: globenewswire.com

Card image cap

AvePoint (AVPT) Reports Q3 Earnings: What Key Metrics Have to Say

Nov -07

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (14.93%)

6. Segments

Software-as-a-Service

Expected Growth: 14.4%

AvePoint's 14.4% growth in Software-as-a-Service is driven by increasing demand for cloud-based collaboration and data management solutions, particularly in the Microsoft 365 ecosystem. Growing adoption of remote work, digital transformation, and cybersecurity concerns are also key contributors. AvePoint's strong partnerships, innovative products, and expanding global presence further support its rapid growth.

Term License and Support

Expected Growth: 11.53%

AvePoint's Term License and Support growth is driven by increasing demand for Microsoft 365 data management and protection, expansion into new markets, and strategic partnerships. The company's innovative solutions, such as AvePoint Cloud Governance and AvePoint FLY, are resonating with customers, leading to a 11.53% growth rate.

Services

Expected Growth: 22.0%

AvePoint's 22.0% growth is driven by increasing demand for cloud-based Microsoft 365 data management solutions, expansion into new markets, and strategic partnerships. The company's innovative products, such as AvePoint Cloud Governance and AvePoint FLY, are resonating with customers seeking to simplify and secure their Microsoft 365 environments.

Maintenance

Expected Growth: 10.98%

AvePoint's Maintenance segment growth of 10.98% is driven by increasing adoption of cloud-based solutions, expansion of existing customer relationships, and strategic partnerships. Additionally, the company's focus on innovation, customer success, and sales execution have contributed to the growth. Furthermore, the rising demand for data management and protection solutions, particularly in the Microsoft 365 ecosystem, has also fueled the segment's growth.

7. Detailed Products

AvePoint Cloud Governance

AvePoint Cloud Governance is a cloud-based solution that enables organizations to manage and govern their Microsoft 365 and SharePoint environments. It provides features such as automated provisioning, permissions management, and content lifecycle management.

AvePoint FLY

AvePoint FLY is a cloud-based migration tool that enables organizations to migrate their content from on-premises environments to Microsoft 365. It provides features such as automated content analysis, migration, and validation.

AvePoint Compliance Guardian

AvePoint Compliance Guardian is a solution that enables organizations to monitor and manage their Microsoft 365 environment for compliance with regulatory requirements. It provides features such as real-time monitoring, alerting, and reporting.

AvePoint Edge

AvePoint Edge is a solution that enables organizations to extend their Microsoft 365 environment to the edge of their network, providing secure and fast access to content and applications.

AvePoint Perimeter

AvePoint Perimeter is a solution that enables organizations to secure their Microsoft 365 environment with advanced threat protection and data loss prevention capabilities.

8. AvePoint, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

AvePoint, Inc. operates in a niche market, providing Microsoft-centric software solutions. While there are some substitutes available, they are not as comprehensive as AvePoint's offerings, reducing the threat of substitutes.

Bargaining Power Of Customers

AvePoint's customers are primarily large enterprises and governments, which have limited bargaining power due to their complex IT infrastructure and reliance on AvePoint's solutions.

Bargaining Power Of Suppliers

AvePoint has a diversified supplier base, and its suppliers have limited bargaining power due to the company's strong market position and negotiating power.

Threat Of New Entrants

The barriers to entry in AvePoint's market are relatively high, requiring significant investments in research and development, marketing, and sales. This limits the threat of new entrants.

Intensity Of Rivalry

AvePoint operates in a competitive market, but its strong brand recognition, comprehensive product offerings, and established customer base help to mitigate the intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 6.53%
Debt Cost 3.95%
Equity Weight 93.47%
Equity Cost 8.24%
WACC 7.96%
Leverage 6.99%

11. Quality Control: AvePoint, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
CSG Systems

A-Score: 5.9/10

Value: 4.1

Growth: 5.1

Quality: 6.0

Yield: 4.0

Momentum: 8.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Evertec

A-Score: 5.3/10

Value: 5.4

Growth: 6.3

Quality: 6.5

Yield: 1.0

Momentum: 5.0

Volatility: 7.3

1-Year Total Return ->

View Full Report
Stock-Card
Couchbase

A-Score: 4.9/10

Value: 6.2

Growth: 5.1

Quality: 5.5

Yield: 0.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

View Full Report
Stock-Card
Bridgeline Digital

A-Score: 4.5/10

Value: 8.4

Growth: 4.7

Quality: 4.9

Yield: 0.0

Momentum: 7.0

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
AvePoint

A-Score: 4.5/10

Value: 3.0

Growth: 6.3

Quality: 6.0

Yield: 0.0

Momentum: 7.0

Volatility: 4.7

1-Year Total Return ->

View Full Report
Stock-Card
Sterling Check

A-Score: 3.4/10

Value: 3.2

Growth: 7.1

Quality: 2.7

Yield: 0.0

Momentum: 5.0

Volatility: 2.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

13.4$

Current Price

13.4$

Potential

-0.00%

Expected Cash-Flows