Overview
AvePoint Q3 total revenue rises 24% yr/yr to $109.7 mln
SaaS revenue grows 38% yr/yr to $84.0 mln in Q3
Total ARR reaches $390 mln, up 26% yr/yr
Outlook
AvePoint raises full-year revenue guidance to $414.8 mln-$416.8 mln
Company expects Q4 revenue of $110 mln to $112 mln
AvePoint projects full-year ARR of $412.8 mln to $418.8 mln
Result Drivers
SAAS GROWTH - SaaS revenue increased 38% yr/yr to $84.0 mln, driven by demand for AI-related data security solutions
ARR INCREASE - Total ARR reached $390 mln, up 26% yr/yr, reflecting strong customer retention and expansion
NEW SOLUTIONS - Introduction of new data protection solutions and an enhanced partner program supported growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income | $13.02 mln | ||
Q3 Adjusted Gross Margin | 75.10% | ||
Q3 Adjusted Gross Profit | $82.40 mln | ||
Q3 ARR | $390 mln | ||
Q3 Gross Profit | $81.58 mln | ||
Q3 Operating Expenses | $73.45 mln | ||
Q3 Operating Income | $8.13 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 3 "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 is $22.00, about 35.1% above its November 5 closing price of $14.28
The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 61 three months ago
Press Release: ID:nGNX4mLwZL
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(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.)
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