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Buy Day today: Good (62) Broad market participation · no major macro event
AVPT

Avepoint Inc

Technology · Software - Infrastructure · listed since 2021

13.50$ +0.7% vs. previous close Closing price · As of: Sep 17, 2026
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Assessment

Our Rating

A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.

Quality confirmed Delivers, pledges unfinished

Business model, numbers and balance sheet hold up to our review. Whether the current price supports an entry is a separate question — it hangs on the price, not on the company.

Why this colour

The business demonstrably carries itself: $419.5 million of revenue in 2025 with 27 percent growth, 76 percent of it recurring, $85.3 million of operating cash flow, and more than 28,000 customers without a single one above 10 percent of billings. As of March 31, 2026 the balance sheet is debt-free, with $444.1 million of cash and $438.8 million of equity. There is no going-concern flag, no interest burden, no accounting or governance breach. The open questions this analysis names — the 13 percent of potential dilution, the 89 percent gross retention rate and the $340.0 million consumption commitment running to 2030 — concern how the profit is divided and what the cost base will look like, not the substance of the company. Hence green: quality on the record, paid for dearly. The decision is yours.

What the thesis turns on

Assessment: Opportunities & Risks

AvePoint is not a turnaround but a business that already worked, whose bottom line in 2025 finally shows what began operationally in 2024. In its favor: $419.5 million of revenue (+27 percent), a 76 percent subscription share, $435.2 million of annual recurring revenue as of March 31, 2026, $444.1 million of cash without debt, and a customer base with no concentration risk. Against it: 27.6 million shares still allowed to emerge from options and employee programs, a gross retention rate of 89 percent, a $340.0 million consumption commitment running to 2030, and a price-to-sales ratio of about 5.8. Whoever buys here buys quality at a price that presumes growth. Not investment advice.

Business model and growth

Revenue rose 27 percent in 2025 to $419.5 million, the SaaS share went from 70 to 76 percent and reached 80 percent in the first quarter of 2026. Annual recurring revenue hit $435.2 million on March 31, 2026. More than 28,000 customers in over 100 countries, none above 10 percent of billings — a business without concentration risk.

Balance sheet

As of March 31, 2026 the books carried $444.1 million of cash without a dollar of debt, plus $438.8 million of equity and an undrawn $30.0 million credit line. An Altman Z-Score of 5.63 and a Piotroski F-Score of 8 out of 9 (data as of July 26, 2026) describe exactly that position.

Quality of the profit swing

Of the $64.2 million improvement in the bottom line between 2024 and 2025, only $25.9 million came from operations. The rest sits in other income (expense), net, which carried $35.8 million of expense in 2024 for earn-out shares from the blank-check era. Operationally the margin does improve, but unspectacularly: 2.2 percent (2024), 7.9 percent (2025), 10.9 percent (Q1 2026).

Dilution

As of March 31, 2026, 18,414,381 options were outstanding at a weighted-average $4.95, 17,187,597 of them immediately exercisable, plus 9,160,384 unvested employee awards — roughly 13 percent on top of 211,853,736 shares. That cuts 2025 earnings per share from $0.17 to $0.15. In 2025 the share count rose 10.8 percent despite $49.8 million of buybacks.

Customer retention

Gross retention stood at 89 percent as of March 31, 2026: roughly eleven of every hundred base dollars have to be replaced each year before growth begins. Net retention of 111 percent shows the remaining customers more than make up for it — but 89 percent gross is fine, not good, for enterprise software.

Valuation and commitments

As of July 26, 2026 the stock trades at about 5.8 times trailing revenue and 61 times trailing earnings; on the company's own 2026 outlook, price-to-sales falls to roughly 5.1. On top of that sits a $340.0 million consumption commitment through November 2030, of which $290.0 million only falls due in 2030.

Worth Noting

AvePoint reached our research list through the fundamental-rank screen of our in-house stock scanner (fundamental score 80 out of 100, Piotroski 8 of 9, Altman Z of 5.63; as of July 26, 2026). On the same day the stock also appeared on the Fallen Angels, Pros 80 and Quality Growth screens. These lists are recalculated every day.

Possible confusion: the SEC file under CIK 1777921 was named Apex Technology Acquisition Corp until July 21, 2021 — the blank-check company through which AvePoint went public. Older documents under that name concern the same entity. The stock also carries a secondary listing on the Singapore Exchange (symbol AVP); prices and volumes on the two venues are not identical.

Valuation figures are dated and evergreen: the $12.24 anchor is the closing price on July 24, 2026 (data as of July 26, 2026). For comparison, mandatory filings document the company's own repurchases at an average $10.45 in March 2026 and insider sales at $13.00 on July 14 and $13.18 on July 15, 2026. Analyses are evergreen; daily prices are not a buy argument.

Stock Watch

This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at AVPT since then.

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Price history

Chart

Interactive price chart (TradingView).

52-week range: 9.00 $ to 16.00 $ · Last price: 13.50 $ (As of: September 17, 2026)

Key figures

Key figures at a glance

Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.

Basics

Market Cap ?The value of the entire company on the market: share price times total shares outstanding. 2.9$B
Shares Outstanding ?Total number of shares issued. Price times share count gives market cap. 212m
Float ?Share of stock freely tradable on the market — not locked up in the hands of founders, insiders, or major shareholders. 66.8%
Beta ?Volatility versus the overall market: 1 = moves like the market, 2 = twice as much, under 1 = calmer than the market. 1.2

Performance

Perf. 1M ?Price performance over the last month. 7.80%
Perf. 3M ?Price performance over the last 3 months. 17.30%
Perf. 6M ?Price performance over the last 6 months. -18.50%
YTD Performance (%) ?Price performance since the start of the year (Year to Date). -25.80%
52-Week-High Distance ?How far the price sits below its highest point over the last 52 weeks. 0% means the stock is at its year high. -48.1%
Perf. 1Y ?Price performance over the last 12 months. -12.44%
Perf. 3Y ?Price performance over the last 3 years. 100.89%
Perf. 5Y ?Price performance over the last 5 years. 41.13%
Perf. Since Inception ?Price performance since the first available trading day (11/05/2019) — with a complete history, that is since the IPO. 38.24%

Technical Indicators

MA 38 Days ?Moving average of the last 38 trading days: the smoothed price path. A price above it signals short-term strength. 13.30$
MA 50 Days ?Moving average of the last 50 trading days — the most widely watched medium-term trend line. 13.10$
MA 200 Days ?Moving average of the last 200 trading days — the dividing line between a long-term uptrend and downtrend. 11.70$
RSI (14) ?Relative Strength Index over 14 days, scale 0 to 100: above 70 counts as overbought, below 30 as oversold. A hint on timing, not a verdict on the company. 54.1
Volatility 30 Days ?Price swings over the last 30 trading days, annualized. The higher the value, the more the price fluctuates. 43.3%
Volatility 250 Days ?Price swings over the last 250 trading days (roughly one market year), annualized. 43.7%

Calculated from the price history · as of 09/18/2026

Valuation

P/E ?Price-to-earnings ratio: how many years of profit does the stock cost? The lower, the cheaper the valuation. No earnings means no P/E.
Forward P/E ?P/E based on expected earnings for the next 12 months instead of past earnings — analysts' bet on the future. 0.0
PEG ?P/E divided by expected earnings growth: puts valuation in relation to growth. Around 1 is considered fair, well above that is pricey.
P/B ?Price-to-book ratio: market value relative to book equity.
P/S ?Price-to-sales ratio: market value divided by annual sales. Important for companies that aren't (yet) profitable. 6.1
EV/EBITDA ?Enterprise value including debt (EV) relative to operating profit before depreciation and amortization (EBITDA) — more comparable than P/E because debt counts too. Extreme values arise when EBITDA is near zero. 47.5
Price/FCF ?Market value divided by free cash flow: how many years of freely available cash does the stock cost? More honest than P/E because cash flow is harder to dress up. 28.4

Profitability

Gross Margin ?Gross margin: what's left of sales after only direct production costs are deducted — the product's pricing power. 73.5%
EBIT Margin ?EBIT margin: operating profit as a percentage of sales — the earning power of the core business before interest and taxes. 10.9%
Net Margin ?Net margin: what's left of sales as profit after ALL costs, interest, and taxes. 15.3%
Return on Equity ?Return on equity: how much profit does the company generate per year on shareholders' equity? 11.7%
Return on Assets ?Return on assets: how much profit the company generates from its total assets (equity and debt combined). 4.0%

Balance Sheet & Safety

Equity Ratio ?Equity ratio: equity as a share of total assets. The higher, the more resilient the balance sheet. 59.8%
Debt/Equity ?Leverage ratio: financial debt divided by equity. Under 1 is generally seen as solid; negative values mean negative equity.
Altman Z″ ?Edward Altman's bankruptcy early-warning score. We use the Z″ variant, built from four balance-sheet ratios — it is designed for service companies and non-manufacturers and uses book value instead of market value. On that scale: below 1.1 = danger zone, 2.6 and up = safe zone, in between a grey area. Because the classic Altman Z is calculated differently, the two numbers are not directly comparable. The formula does not fit banks, insurers, or real-estate stocks. 5.63
Piotroski ?Balance-sheet health check by Joseph Piotroski: 9 yes/no criteria on profit, cash flow, leverage, and efficiency. 7+ is very solid, under 3 is a red flag. very solid 8 out of 9

Growth

Sales Growth Last Quarter ?Sales growth in the most recently reported quarter versus the same quarter a year ago (YoY). 26.00%
EPS Growth Last Quarter ?Growth in earnings per share in the most recently reported quarter versus the same quarter a year ago (YoY). 302.80%
Sales Growth (Year) ?Sales growth in the last fiscal year versus the year before. 26.93%
Forward Sales Growth ?Sales growth analysts expect over the next 12 months — an estimate, not a guarantee. 20.17%
Forward EPS Growth ?Earnings-per-share growth analysts expect over the next 12 months — an estimate, not a guarantee. 23.20%

Dividend

This stock currently pays no dividend.

Quality & Screener

Stage ?Weinstein phases 1 through 4: 1 = basing, 2 = uptrend (the only buy phase), 3 = topping, 4 = downtrend. Measured against the 30-week line. 4
RS Rating ?Relative strength from 1 to 99: an RS of 95 means the stock has outperformed 95% of all stocks. 14
EPS Rating ?Earnings growth rating from 1 to 99 versus all stocks — high values mean above-average earnings growth. Top 10% 93
Fundamental Rating ?Our own Fundamental Rating: 0 to 100 points with an A+ to F grade. 50 points is the average across the universe, 100 the best possible score. It scores growth, earnings surprises, analyst estimates, margins, cash flow, and balance-sheet safety — every stock percentile-ranked against all others. Grades: A+ from 95, A from 75, B from 55, C from 45, D from 25, E from 5, F below. A (79 out of 100)

Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.

Comparison

Industry comparison

The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.

Industry: Software - Infrastructure

Industry comparison
Company Market cap ($B) P/E EV/EBITDA Gross Margin % EBIT Margin % Sales Growth (Year) % Perf. 1Y %
Avepoint Inc AVPT 2.9 47.5 73.5 10.9 26.9 -12.4
Microsoft Corporation MSFT 3,632.6 30.8 17.6 67.9 46.3 14.9 -1.6
Oracle Corporation ORCL 435.3 24.7 14.8 64.0 36.2 17.4 -49.5
Palantir Technologies Inc. PLTR 432.5 199.0 147.5 84.8 46.2 56.2 4.7
Palo Alto Networks Inc PANW 305.7 302.6 194.0 70.4 -2.5 14.9 84.7
Crowdstrike Holdings Inc CRWD 248.2 490.1 75.2 -2.2 21.7 120.6
Fortinet Inc FTNT 124.2 61.8 39.6 80.2 31.3 14.2 115.0
Cloudflare Inc NET 115.1 2,805.8 72.6 -9.7 29.9 56.1
Synopsys Inc SNPS 73.0 77.0 22.3 82.9 10.4 15.1 -10.4
Median of companies shown 248.2 69.4 47.5 73.5 10.9 17.4 4.7

Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →

Fiscal years

Annual Figures

Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.

Revenue, operating income and net income per fiscal year $M

Revenue Operating income Net income

2018 · Revenue: 107 $M 2018 · Operating income: -2 $M 2018 · Net income: -4 $M 2019 · Revenue: 116 $M 2019 · Operating income: -19 $M 2019 · Net income: -20 $M 2020 · Revenue: 152 $M 2020 · Operating income: -15 $M 2020 · Net income: -17 $M 2021 · Revenue: 192 $M 2021 · Operating income: -53 $M 2021 · Net income: -35 $M 2022 · Revenue: 232 $M 2022 · Operating income: -40 $M 2022 · Net income: -42 $M 2023 · Revenue: 272 $M 2023 · Operating income: -15 $M 2023 · Net income: -22 $M 2024 · Revenue: 330 $M 2024 · Operating income: 7 $M 2024 · Net income: -29 $M 2025 · Revenue: 420 $M 2025 · Operating income: 33 $M 2025 · Net income: 35 $M
20182019202020212022202320242025
Annual Figures
Fiscal Year Revenue ($M) EBIT ($M) Net Income ($M) EPS ($) Operating Cash Flow ($M) Equity ($M) Total Assets ($M)
2018 107 -2 -4 -0.47 -3
2019 116 -19 -20 -0.46 -2 318 353
2020 152 -15 -17 -0.19 19 -8 169
2021 192 -53 -35 -0.25 5 250 389
2022 232 -40 -42 -0.23 -1 229 416
2023 272 -15 -22 -0.12 35 211 443
2024 330 7 -29 -0.16 89 269 519
2025 420 33 35 0.15 85 479 789

Quarters

Quarterly Figures

Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.

Revenue & Profit

Cash Flow

Balance Sheet

Margins

Per Share

Click the chart or tab into it, then use ← and → to step through the periods.

None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.

These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.

The figures could not be loaded right now.

Sales Per Quarter ($M)
2024: Q4 · 89.2 $M Q4 2025: Q1 · 93.1 $M Q1 2025: Q2 · 102.0 $M Q2 2025: Q3 · 109.7 $M Q3 2025: Q4 · 114.7 $M Q4 2026: Q1 · 117.2 $M Q1 2026: Q2 · 124.5 $M Q2

Source: fundamental data

Quarterly Figures
Quarter EPS (Earnings Per Share) EPS YoY (%) Sales ($M) Sales YoY (%) Net Margin (%) OCF ($M) FCF ($M)
2024: Q4 -0.09 -493.20 89 19.50 -19.30 33 32
2025: Q1 0.02 93 24.90 3.70 1 -2
2025: Q2 0.01 102 30.90 2.60 20 19
2025: Q3 0.06 292.40 110 23.60 11.90 35 34
2025: Q4 0.07 115 28.60 13.60 30 29
2026: Q1 0.07 340.30 117 26.00 13.00 24 23
2026: Q2 0.12 1,100.00 125 22.10 22.20 16 15

What Do These Terms Mean?

EPS (Earnings Per Share):
Quarterly profit divided by the total share count — how much of the profit works out to a single share.
YoY (Year over Year):
Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
Sales:
All revenue for the quarter, before any costs are deducted — the top line of the income statement.
Net Margin:
What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
OCF (Operating Cash Flow):
The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
FCF (Free Cash Flow):
Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.

Compare with other stocks →

Screening

Appears in These Scanners

This stock currently matches 11 of our scanner strategies — each hit links to the scanner.

Best Hits

Growth

Quality & Balance Sheet

Earnings & Surprises

Momentum & Trend

Research

Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners

Outlook

Analysts & Price Target

Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.

Consensus Sell 1 = Strong buy … 5 = Strong sell
Analyst Ratings 8
Price Target (average) 16.71$
Distance to price 23.8% The price target sits 23.8% above the current price.

Distribution of Recommendations

Strong Buy 5
Buy 1
Hold 2
Sell 0
Strong Sell 0

Estimates by Fiscal Year

Estimates by Fiscal Year
Fiscal Year EPS Estimate ($) EPS Range ($) Revenue Estimate ($M) Expected Growth Analysts
12/31/2026 0.45 0.38 – 0.52 511 40.8% 12
12/31/2027 0.50 0.44 – 0.63 615 10.4% 12

Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.

Valuation

What is priced in?

Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.

Today’s market value implies roughly 12.5% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).

What is priced in?
Free cash flow (last twelve months) $100.7M
Market cap $2.86B
Free cash flow in year ten $326.2M
Terminal value as a share of market value 60.1%

For comparison: over the past five years free cash flow grew by 35.1% per year.

It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.

A simplified model calculation — not a forecast and not a recommendation.

AI classification

AI Rating

Sells AI

AvePoint beschreibt im Geschäftsbericht 10-K für 2025 eigene KI-Produkte als Umsatzquelle — die Anwendungsfälle „AI Confidence and Readiness“ und „Agentic AI Governance“ sind Bestandteil der verkauften Plattform-Bündel, nicht bloß interne Werkzeuge.

View the full file — quotes, sources, reviewed filings
„Agentic AI Governance : Discover, monitor, and control AI agents to strengthen compliance, security, and trust as organizations scale AI."

Steuerung agentischer KI: KI-Agenten erkennen, überwachen und kontrollieren, um Regeltreue, Sicherheit und Vertrauen zu stärken, während Organisationen ihren KI-Einsatz ausweiten.

10-K · 2026-02-26 · View SEC filing

„AI Confidence and Readiness : Improve data quality, security, governance, and adoption to accelerate AI-driven innovation while reducing exposure, regulatory, and integrity risks."

KI-Vertrauen und KI-Reife: Datenqualität, Sicherheit, Steuerung und Nutzung verbessern, um KI-getriebene Innovation zu beschleunigen und zugleich Offenlegungs-, Regulierungs- und Integritätsrisiken zu senken.

10-K · 2026-02-26 · View SEC filing

„In an era where trusted data is a prerequisite for AI adoption, data protection is no longer a back-office IT function, it is a strategic business imperative."

In einer Zeit, in der vertrauenswürdige Daten die Voraussetzung für den Einsatz von KI sind, ist Datenschutz keine IT-Funktion im Hintergrund mehr, sondern ein strategisches Gebot für das Geschäft.

10-K · 2026-02-26 · View SEC filing

Filings Reviewed: 10-K 2026-02-26 · 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-08 · 10-K 2025-02-28

Rated on July 26, 2026 · How the Rating Is Built

Earnings calls

What the Earnings Calls Reveal

Across all ten calls we reviewed, from fiscal 2023-Q4 to 2026-Q1, AvePoint beat its own revenue and operating income guidance every single time and met both core pledges from its first investor day: GAAP profitability (a year early) and Rule of 40 status in 2025. On the numbers, delivery is exceptionally reliable. Other commitments are still open: two projects announced in the 2023-Q4 call with an explicit promise to report back, the A3 Ventures growth fund and an AI industry lab in Singapore, never come up again in the nine following calls. The self-imposed target of gross retention above 90 percent is still narrowly missed at 89 percent more than two years on, and gross margin at 73.4 percent sits below the 75 percent goal that was never withdrawn. Management called the Control suite its fastest-growing family in three calls and it then grew slower than the group in 2025, though management explained that swing at length, unprompted, in the 2025-Q4 call.

Red flags Delivers, pledges unfinished 10 calls reviewed, 2023-Q4 through 2026-Q1 · As of August 2, 2026

Ten straight quarters above own guidance

From 2023-Q4 to 2026-Q1, revenue came in above the top end of guidance in every single quarter. For 2024, management guided in the 2023-Q4 call to full-year revenue of 308.6 to 316.6 million dollars and non-GAAP operating income of 27.4 to 30.4 million; the 2024-Q4 call reported 330.5 million of revenue and 47.6 million of operating income. For 2025 the opening guide was 380 to 388 million of revenue and the outcome was 419.5 million. The company's own Rule of 40 figure was lifted from 29 to 37 during 2024 and finished at 38, then from 38 to 46 during 2025. This track record is the stock's strongest feature.

Control suite: growth leader, then below group

In three calls the CEO described the Control suite as the fastest-growing family: in 2024-Q2 literally as "the strongest growth, in fact", in 2025-Q1 as the "highest growth suite", and twice in 2025-Q2. In the 2025-Q4 call an analyst countered that the Control suite's share of total ARR had fallen from 28 to 26 percent; the CFO put its growth at "roughly 20 percent" against 27 percent for the group, and in the 2026-Q1 call an analyst cited 18 percent for the fourth quarter. This did not go unexplained: in the same call the CFO and CEO attributed the decline to the sharp pick-up in migration projects in the second half of 2025, which lifted the Modernization suite by almost 40 percent, and to the smaller average deal size of Control licences. What stands is that the superlatives from 2024-Q2 through 2025-Q2 were not borne out by the annual disclosure, and that the Opus product moved from the Control suite ("Opus is part of our ControlSuites", 2024-Q2) to the Resilience suite by 2025-Q1 with no explanation. That reshuffle takes volume out of Control rather than flattering its growth rate, but it does make a metric AvePoint discloses only once a year harder to compare.

Two announced initiatives vanish without comment

In the 2023-Q4 call the CEO announced two projects with an explicit promise to report back: the A3 Ventures growth fund, on which more would follow "in the coming months", and an AI industry lab in Singapore with the local economic development board, on which progress would be shared "in the coming quarters". Across the nine following calls through 2026-Q1 the name A3 Ventures never appears again; the Singapore lab is never mentioned again, and the umbrella "AvePoint AI" programme only once more, in the 2024-Q1 call. No analyst followed up and management volunteered nothing.

Gross retention: target narrowly missed since 2023

In the 2023-Q4 call the CFO named 90 percent plus as the medium-term target for gross retention, which then stood at 87 percent. In the 2024-Q3 call he put the horizon at "the next couple of years". Since then: 89 percent in 2024-Q4, 89 percent in 2025-Q1 and 2025-Q2, 88 percent in 2025-Q3 and 2025-Q4, 89 percent in 2026-Q1. That is two points of progress, but the target is still unmet after more than two years. From the 2025-Q2 call onward management also quotes a figure excluding migration products, which comes to 90 or 91 percent. That second calculation does not hide the headline number: both are given in every call since, the CFO had already named the weaker renewal rate of migration products as the biggest churn driver back in the 2024-Q2 call, and in the 2025-Q4 call he warned unprompted of further pressure on the ratio in 2026.

Gross margin below its own 75 percent goal

In the 2023-Q4 call the CFO named 75 percent as the long-term gross margin target and cited a further shrinking services share, with a long-run goal of roughly 10 percent of revenue, as the route there. On the services share AvePoint is on track: 16 percent in 2023, 14 percent in 2024-Q1, 12 percent in 2026-Q1, and in the 2024-Q3 call the CFO explicitly noted that the figure keeps trending closer to the 10 percent target. Gross margin itself, however, sits below target: after peaking at 77.0 percent in 2024-Q3 it was 74.2 percent in 2025-Q4 and 73.4 percent in 2026-Q1. For 2026-Q1 management attributed the decline not to a larger services share but to lower margins within the services business itself. The 75 percent goal has never been withdrawn, while by the 2026-Q1 call the services business is recast as "outcome as a service" and an IP engine.

What the AI products earn stays unanswered for two years

The question of what new products actually contribute in revenue has been asked repeatedly since 2024 and repeatedly left unanswered. In the 2024-Q1 call an analyst asked about the ARPU uplift from Opus; the answer pointed to 2025. In the 2024-Q2 call Opus monetisation was raised twice and the answer stayed at suite level. In the 2025-Q3 call an analyst asked what the new command centers contribute to pipeline and bookings; the answer was that such detail comes only annually or at the investor day so soon after a launch. On AgentPulse, the 2025-Q4 and 2026-Q1 calls offer only qualitative wording such as the "beginning of revenue generation" plus a pipeline share, but no figure. The same pattern applies to the suite split, asked three calls running in 2024-Q1, 2024-Q2 and 2024-Q3 and three times deferred to the annual disclosure. That annual disclosure does happen, though: it is what allowed analysts to challenge the suite shares in the 2025-Q4 and 2026-Q1 calls in the first place.

Management promises

  • 2023-Q4 — GAAP profitability and Rule of 40 status in 2025. Exceeded. GAAP profitability arrived for full-year 2024, a year ahead of the pledge, and 2025 closed at Rule of 46 with a 7.9 percent GAAP margin. kept
  • 2023-Q4 — Gross retention rate to 90 percent or better over the medium term. Narrowly missed after more than two years: 89 percent in 2026-Q1 against 87 percent at the outset. Since 2025-Q2 management also quotes a figure excluding migration products that clears the target on paper; both numbers are given in every call. open
  • 2023-Q4 — More information on the A3 Ventures growth fund within the coming months. The fund is never mentioned again in any of the nine following calls through 2026-Q1. The promised update never came. broken
  • 2023-Q4 — Progress reports in coming quarters on the AvePoint AI programme including an AI industry lab in Singapore. The lab is never named again after 2023-Q4 and the programme only once more, in passing, in 2024-Q1. Silence for nine quarters thereafter. broken
  • 2025-Q1 — One billion dollars of annual recurring revenue by 2029, announced at the March 2025 investor day. Starting point 416.8 million dollars at the end of 2025 with guidance of 525 to 531 million for 2026. That requires roughly 25 percent annual growth through 2029, about the pace achieved in 2025; the pledge is reaffirmed in every call since. open
  • 2023-Q4 — Services share to about 10 percent of revenue over the long run, gross margin toward 75 percent. A split picture: the services share has fallen from 16 percent in 2023 to 12 percent in 2026-Q1, close to the 10 percent goal. Gross margin, at 73.4 percent, sits below the 75 percent target, which has never been withdrawn. open

Based on public earnings call transcripts. Reviewed: 10 transcripts 2023-Q4 through 2026-Q1.

Growth

Growth Score

Ten checks against the annual reports — each one passed counts a point.

8 of 10 Growth gem
  • Revenue grows by more than 15% a year over three years 21.8%
  • More than 10% revenue growth is expected for the coming year 20.2%
  • Share count grows by less than 3% a year 8.0%
  • Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 46.4%
  • Gross margin at 40% or higher and without meaningful erosion 74.1%
  • Goodwill from acquisitions does not grow faster than revenue 4.8%
  • Net debt below twice EBITDA 464 m net cash
  • Operating cash flow covers the profits of the last three years 225 m
  • Return on capital at 15% or higher, or up versus two years ago 6.4%
  • Insiders hold at least 10% or are net buyers 23.5%

A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail

Quality check

AAQS

6/10

The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).

  • Sales growth 10Y > 5% 21.5%
  • Exp. sales growth 3Y > 5% 21.1%
  • EBIT growth 10Y > 5%
  • Exp. EBIT growth 3Y > 5% 79.9%
  • Net debt < 4x EBIT -14.0x
  • EBIT positive, 10Y straight 2
  • Max. EBIT decline < 50% 0.0%
  • Return on equity > 15% 8.2%
  • ROCE > 15% 6.4%
  • Expected return > 10% 85.0%

View stocks with the full AAQS score · Read the methodology at AlleAktien

Source: fundamental data

Insiders

Insider Transactions

Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.

Insider Transactions
Date Person Role Type Shares Price Value
Sep 14, 2026 Caci James Chief Financial Officer Other 2,517 13.60 34,231
Sep 14, 2026 Brown Brian Michael Chief Legal Officer Other 1,875 13.60 25,500
Sep 11, 2026 Jiang Tianyi Chief Executive Officer Other 2,914 12.66 36,891
Sep 11, 2026 Gong Xunkai Executive Chairman Other 3,137 12.66 39,714
Sep 11, 2026 Caci James Chief Financial Officer Other 6,120 12.66 77,479
Sep 11, 2026 Brown Brian Michael Chief Legal Officer Other 5,010 12.66 63,427
Sep 4, 2026 Jiang Tianyi Chief Executive Officer Other 3,422 13.43 45,957
Sep 4, 2026 Jiang Tianyi Chief Executive Officer Other 968 13.43 13,000
Sep 4, 2026 Gong Xunkai Executive Chairman Other 3,683 13.43 49,463
Sep 4, 2026 Gong Xunkai Executive Chairman Other 1,041 13.43 13,981

View all insider transactions →

The company

About the Company

AvePoint, Inc. bietet eine cloudnative Datenmanagement-Softwareplattform in Nordamerika, Europa, im Nahen Osten, in Afrika und im asiatisch-pazifischen Raum an.

CEO Insider Trades (12 Mo.)
selling own stock
Employees
3,443
Headquarters
Jersey City, NJ
Address
525 Washington Boulevard, 07310 Jersey City, United States
Phone
201 793 1111
IPO Date
07/02/2021
ISIN
US0536041041

Management

Management
Name Title Birth Year
Xunkai Gong Co-founder & Executive Chairman 1962
James Caci CPA Chief Financial Officer 1965
Brian Michael Brown J.D. Chief Legal & Compliance Officer, Secretary and Director 1973
Stuart Robertson Chief Operating Officer
Sophia Wu Chief Accounting Officer 1977
John Peluso Chief Technology Officer
Dana Louise Simberkoff Cipp, J.D. Chief Risk, Privacy & Information Security Officer
Clara Lim Chief Administrative Officer
James Arestia Vice President of Investor Relations
Nicole Caci Director of Content & Communications

Executives per the latest required filings; titles kept in their original language. Source: fundamental data.

Filings

Company Filings (8-K)

An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).

  • 08/06/2026 AvePoint, Inc. (AVPT): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗

Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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