Overview

* AvePoint ( AVPT ) Q2 revenue hits $102 mln, up 31% yr/yr, surpassing $100 mln for the first time

* SaaS revenue grows 44% yr/yr to $77.3 mln, driving overall revenue growth

* ARR increases 27% yr/yr to $367.6 mln, reflecting strong subscription growth

Outlook

* AvePoint ( AVPT ) sees Q3 revenue between $104.6 mln and $106.6 mln

* Company expects Q3 non-GAAP operating income of $18 mln to $19 mln

* AvePoint ( AVPT ) projects full-year revenue of $406.6 mln to $410.6 mln

* Company forecasts full-year ARR of $412.8 mln to $418.8 mln

Result Drivers

* SAAS REVENUE GROWTH - SaaS revenue increased 44% yr/yr to $77.3 mln, driving overall revenue growth

* ARR INCREASE - Annual recurring revenue rose 27% yr/yr to $367.6 mln, reflecting strong subscription growth

* PLATFORM EXPANSION - Expanded AvePoint Confidence Platform with new features, enhancing data governance and security

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net $2.89

Income mln

Q2 74.8%

Adjusted

Gross

Margin

Q2 $76.30

Adjusted mln

Gross

Profit

Q2 ARR $367.60

mln

Q2 Gross $75.54

Profit mln

Q2 $68.44

Operatin mln

g

Expenses

Q2 $7.09

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the it services & consulting peer group is "buy"

* Wall Street's median 12-month price target for AvePoint Inc ( AVPT ) is $21.50, about 16.9% above its August 6 closing price of $17.86

* The stock recently traded at 59 times the next 12-month earnings vs. a P/E of 58 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)