Avepoint, Inc. ( (AVPT) ) has released its Q4 earnings. Here is a breakdown of the information Avepoint, Inc. presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
AvePoint, Inc. is a global leader in data security, governance, and resilience, providing platform solutions that enable organizations to prepare, secure, and optimize their data across various collaboration environments. In its latest earnings report, AvePoint announced significant growth in its SaaS revenue and total revenue for the full year 2024, with SaaS revenue reaching $230.7 million, marking a 43% year-over-year increase. The company also reported a total revenue of $330.5 million, up 22% from the previous year. AvePoint’s fourth-quarter results highlighted a 20% increase in total revenue, driven by a 43% rise in SaaS revenue compared to the same period in 2023. The company’s GAAP operating income for the year was $7.2 million, a notable improvement from the previous year’s loss, while non-GAAP operating income more than doubled to $47.6 million. AvePoint’s annual recurring revenue (ARR) grew by 24% year-over-year, reflecting strong demand for its data management solutions. Looking ahead, AvePoint’s management is optimistic about continued growth in 2025, with expectations of increased revenue and ARR, driven by ongoing demand for data security and governance solutions.