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Investor Presentation M a y 2 0 2 5
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. DISCLAIMER This presentation (“Presentation”) is for informational purposes only and shall not be reproduced or distributed in whole or in part without the express written consent of AvePoint, Inc. No Reliance No representations or warranties, express or implied, are given in, or in respect of, this Presentation. To the fullest extent permitted by law, under no circumstances will AvePoint, its subsidiaries, or any of their respective affiliates be responsible or liable for a direct, indirect, or consequential loss or loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of AvePoint. Viewers of this Presentation should each make their own evaluation of AvePoint and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. Forward-Looking Statements This Presentation contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. Viewers of this Presentation should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K. Copies of this and other documents filed by AvePoint from time to time are available on the SEC's website, www.sec.gov. This filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Viewers of this Presentation are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Use of Projections This Presentation contains projected financial information. Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underling such financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive, and other risks and uncertainties. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the financial forecast information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such forecasts will be achieved. Use of Data The data contained herein is derived from various internal and external sources. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. AvePoint assumes no obligation to update the information in this presentation. Use of Non-GAAP Financial Metrics and Other Key Financial Metrics This Presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as non-GAAP operating income (loss) and non-GAAP operating margin. AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets. Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue. These non-GAAP measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this Presentation. AvePoint believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about AvePoint. AvePoint’s management uses forward looking non-GAAP measures to evaluate AvePoint’s projected financial and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore AvePoint’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies. In addition to the non-GAAP metric described above, AvePoint management uses the key financial metric annual recurring revenue ("ARR"). ARR is the annualized sum of contractually obligated Annual Contract Value (“ACV”) from SaaS, term license and support and maintenance revenues, from all active customers. No Solicitation, Offer, Recommendation, or Advice This Presentation shall not constitute nor be construed as an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful. Further Information Investors and security holders of AvePoint are urged to read AvePoint’s recent disclosure statements and other relevant documents that have been or will be filed with the SEC carefully and in their entirety when they become available because they will contain important information about AvePoint. Investors and security holders will be able to obtain free copies of such documents containing important information about AvePoint through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by AvePoint can be obtained free of charge by directing a written request to AvePoint Investor Relations at 901 East Byrd Street, Suite 900, Richmond VA 23219 or by emailing IR@avepoint.com.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. PREPARE SECURE OPTIMIZE Our Vision. To Take Organizations Beyond Secure Our Mission. To Enable Organizations to Collaborate with Confidence by Ensuring a Robust Data Foundation Transforming Data to be AI-Ready Our Vision and Mission
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Machine-generated Data Human-generated Data A Focus on Managing Human-Generated Data CRM Sales Excel Financials Client Portfolios Machine-generated Data Voice Transcripts Emails Client Transactions Notes and Text Documents Chats Manuals – HR, LCD Call Center Videos Surveys Human-generated Data
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The Leading One-stop Solution for Data Management: Platform Approach in the Age of AI A Leading One-stop Solution for Data Management: Generative AI requires a robust data management strategy: Data Security Data Governance Data Protection 01 Resilience of Cybersecurity Posture Control of IT Environment Modernization of Workforce03 02
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Current Serviceable Market Long-term Addressable MarketMid-term Serviceable Market (2024-28E CAGR 6.4% to $24.4bn) (2024-28E CAGR 13.2% to $16.6bn) (2024-28E CAGR 17.4% to $99.0bn) $19.0bn $6.7bn Governance, Risk, and Compliance $12.3bn Data Replication and Protection $10.1bn $52.2bn $23.8bn Identity & Access Management $4.6bn Cloud Native Application Protection $23.7bn Security Analytics Data Integration and Intelligence + + $10.1bn (1) As of 2024; IDC, Semiannual Software Tracker, November 2024 Enormous Addressable Market 2024E $81.3 bn 2028E $140.0 bn (2025-28E CAGR 14.6%)
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Building Enterprise- Grade Software Direct Selling into Highly Regulated Industries Fought to Enter New Regions Subscription Model Transition Went Public with only $60mm Primary Capital and No Debt We Do the Hard Things First Putting the pieces in place to support durable, profitable growth at scale
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Rapidly Built a Diverse Customer Base… 17,085 21,214 25,178 2022 2023 2024 21% 2022-2024 CAGR T O T A L C U S T O M E R S
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. …Spanning Every Industry… 12% 12% 11% 10% 8% 7% 5% 6% 5% 3% 3% 4% 13% Professional & Admin Services Finance & Insurance Federal Government Manufacturing & Production State & Local Construction Healthcare Retail Information Technology Life Sciences & Pharmacy Energy & Utilities Education Other Chart reflects breakdown of total ARR as of December 31, 2024.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. North America 44% of Total ARR 26% ARR CAGR EMEA 35% of Total ARR 27% ARR CAGR APAC 21% of Total ARR 30% ARR CAGR ARR contributions as of December 31, 2024. CAGR is for the 2022-2024 period. …Around the World
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. This Has Enabled Rapid Topline Growth… $214.7 $264.5 $327.0 23% 2022-2024 CAGR T O T A L A R R ($mm) 2022 2023 2024
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. (1.2%) 8.1% 14.4% N O N- G A A P O P E R A T I N G M A R G I N …While Improving Operating Efficiency +1,560 bps IMPROVEMENT SINCE 2022 2022 2023 2024 2022 was the first full year as a public company AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets. Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. ©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Full Year 2024 Financial Highlights Financial data and customer metrics as of December 31, 2024. All other metrics are for the FY 2024 period; Free cash flow margin is calculated as net cash provided by operating activities less purchase of property and equipment, as a percentage of total revenues, on a TTM basis; AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets. Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue; Rule of 40 is calculated as ARR growth plus non-GAAP operating margin $327mm Annual Recurring Revenue 25,000+ Total Customers 14.4% Non-GAAP Operating Margin 43% SaaS Revenue Growth 666 Customers >$100K+ ARR 38% Rule of 40 26.0% Free Cash Flow Margin $330mm Total Revenue
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Challenges All Companies Currently Face Need for Automation Complex Regulatory Environment Increasing Ransomware Attacks Move to the Cloud Explosive Growth of Data
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Generative AI Amplifies These Challenges D ATA S E C U R I T Y D ATA G O V E R N A N C E B U S I N E S S P R O C E S S E S S C A L A B I L I T Y R I S K R E S P O N S E Traditional Approach Fragmented Across Systems Inconsistent and Poorly Regulated Manual Limited Slow Response to Data Breach Incidents Requirements in the Age of Generative AI Centralized Uniform Standard Automated Efficient and Flexible Proactive and Agile
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Business continuity depends on the ability to bring data resilience and data quality into a single, seamless experience Customer Needs Today PLATFORM-FIRST STRATEGY Maximize the interoperability of every solution ROBUST POLICIES Ensure that critical data is secured DATA SECURITY AND GOVERNANCE Secure and govern every workspace
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. How can we take organizations Beyond Secure and ensure a robust data foundation in the age of AI?
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. An all-in-one data management platform that seamlessly prepares, secures and optimizes human-generated data
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The AvePoint Confidence Platform Resilience Suite DATA SECURITY & PROTECTION comply with regulations, preserve critical records, and ensure business continuity Modernization Suite EMPLOYEE PRODUCTIVITY transform legacy data and processes for modern SaaS platforms Control Suite DATA GOVERNANCE a ready-made framework for automated governance and policy enforcement to reduce security risk
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Company A Company I Company B Company H Company G Company F Companies Can Choose From a Number of Point Tools… Data Protection Data GovernanceData Security Company A Company I Company B Company H Company G Company F Company M Company N Company J Company D Company L Company K Company C Company E
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. …but AvePoint Provides a One-Stop Solution Company A Company I Company B Company H Company G Company F Company A Company I Company B Company H Company G Company F BENEFITS TO CUSTOMERSADVANTAGES OF A ONE-STOP PLATFORM Rapid Innovation Customer Stickiness Comprehensive Support Deep Competitive Moat Efficient Cross-sell Opportunities Streamlined Workflow, Better Experience Cost Savings and Higher ROI Holistic Data Insights Data Protection Data GovernanceData Security
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Tangible Benefits of Platform Approach Lower Time to Value Immediate savings in data retention costs Enterprise Scalability 500+ petabytes managed customer data High ROI Substantial cost savings automating data governance efforts Improved Operational Efficiency Platform automatically performs backup & governance operations
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. # of Employees % of Total ARR Engagement Buyer 5,000+ 53% Direct CTO, CIO, CISO 500 – 5,000 28% Direct + Indirect CTO, CIO, CISO or Partners < 500 19% Indirect Partners Enterprise Mid-Market Small and Medium Business Enterprise Mid-Market Small and Medium Business Customer Segmentation ARR contribution as of December 31, 2024.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Wins (Close) Pipeline Creation Awareness Demand Generation Customer/Partner Success & Expansion Welcome & Onboarding Customer/Partner Loyalty & Advocacy Direct Sales Channel Sales Consultants, Resellers, MSPs MSPs, Distributors Systems Integrators, Consultants Enterprise (5,000+ employees) Mid-Market (500-5,000 employees) SMB (< 500 employees) Go-to-Market Motion Customer Segmentation Go-to-Market Motion
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Customer Buying Journey (Example) ~$1mm ARR ~$2.5mm ARR BUSINESS IMPACT VALUE CREATION Fortune 50 Consumer Goods Company This is an illustrative example of one customer’s buying journey and is not representative of all our customer relationships or their individual needs
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Complex Data Ecosystem of Major Technology Providers Infrastructure Agnostic Data Management Data Resources Cybersecurity Concerns AvePoint Seamless End-User Experience Mission Critical for “Data-first” Enterprises Empower Data Management with Security Unified Data Platform Enable Collaboration Optimized Data Governance Empower Transformative Processes Protection and Rapid Recovery Multi-Ecosystem Opportunity
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28©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. AI The AI Opportunity for AvePoint
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Strategic Priorities Accelerate Customer Adoption and Retention Expand Platform Offerings Continued Scaling of Channel Ecosystem Broaden Global Presence Strategic Acquisitions and Investments
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. ($ in mm) The Path to $1 Billion of ARR $122 $327 2020 2024 2029 H O W W E G E T T H E R E Solutions Segments Geographies Cross-Selling Partners $1B
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Key Takeaways We are a true platform company, focused on profitable growth1 We sell to companies of all sizes, across all verticals, in all regions of the world3 We operate in an addressable market that is large and growing4 Customers rely on AvePoint to address a number of strategic use cases2 Generative AI will be a long-term growth catalyst for AvePoint5
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Financial Highlights
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Tremendous Growth Potential Multiple growth levers to capture new markets and build share in a large and growing TAM Diverse Customer Base Rapidly growing and underpenetrated customer base that spans industries, geographies and company sizes Strong Financial Performance Established track record of execution, highlighted by durable topline growth, improving profitability and strong cash flow generation 1 32 A Compelling Equity Story
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. • Total ARR grew 26% YoY to $345.5 million, 28% adjusted for FX • Net new ARR was $18.5 million and grew 85% YoY • SaaS revenues grew 34% YoY, 37% on a constant currency basis • Total revenues grew 25% YoY, 27% on a constant currency basis • Dollar based gross retention rate was 89%, adjusted for FX • Dollar based net retention rate was 111%, adjusted for FX • Non-GAAP operating margin was 14.4% Q1 2025 Financial Highlights Constancy currency growth is calculated by applying the average exchange rates in effect during the comparison period, rather than the average exchange rates in effect during the current period.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Strong Financial Performance (TTM) 35 $222.4 $274.5 $345.5 Q1 2023 Q1 2024 Q1 2025 Total ARR ($mm) Total Revenue ($mm) Non-GAAP Operating Income ($mm) $241.6 $286.8 $349.0 Q1 2023 Q1 2024 Q1 2025 $2.3 $29.1 $54.4 Q1 2023 Q1 2024 Q1 2025 Revenue and non-GAAP operating income shown on a trailing twelve-month basis. AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 12% 13% 11% 10% 8%6% 4% 6% 7% 3% 3% 4% 13% Professional & Admin Services Finance & Insurance Federal Gov Manufacturing & Production State & Local Construction Healthcare Retail Info Tech Life Sciences & Pharma Energy & Utilities Education Other Geography Direct vs Channel New vs Existing Product Suites Customer Segment • North America 44% | • EMEA 35% | • APAC 21% • Channel 55% | • Direct 45% • Existing 68% | • New 32% • Control 28% | • Modernization 11% | • Resilience 62% • Enterprise 53% | • Mid-Market 28% | • SMB 19% 68% 32% 55%45% 28% 11% 62% 44% 35% 21% 53%28% 19% Diversified ARR Base Industries All charts reflect ARR as of December 31, 2024. New/existing split is applicable to gross incremental ARR.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Recurring Revenue Mix Continues to Grow Q1 2023 Q1 2024 Q1 2025 SaaS Term License & Support Services Maintenance $242mm $287mm SaaS Revenue as % of Total Revenue 52% 62% 71% $349mm 83% 84% 87% Recurring Revenue(1) as % of Total Revenue Revenues shown on a trailing twelve-month basis. Recurring Revenue includes SaaS, Term License & Support, and Maintenance revenues
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Attractive Retention Rates with Room to Grow Dollar-Based Gross Retention Rate Dollar-Based Net Retention Rate Retention rates are adjusted for FX. 87% 87% 89% Q1 2023 Q1 2024 Q1 2025 106% 110% 111% Q1 2023 Q1 2024 Q1 2025
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Increasing Operating Leverage All metrics shown on a trailing twelve-month basis. Gross profit and operating expenses are non-GAAP and shown as a percentage of revenue; AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets. Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue. Revenues ($mm) & Gross Margin $241.6 $286.8 $349.0 72.8% 73.6% 75.9% Q1 2023 Q1 2024 Q1 2025 Operating Expenses 40.8% 36.7% 33.8% 12.4% 11.6% 12.0% 18.6% 15.2% 14.5% Q1 2023 Q1 2024 Q1 2025 S&M R&D G&A Non-GAAP Operating Margin 1.0% 10.1% 15.6% Q1 2023 Q1 2024 Q1 2025
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. $5.2 $37.2 $77.6 Q1 2023 Q1 2024 Q1 2025 Strong Free Cash Flow Generation Free cash flow is shown on a trailing twelve-month basis. Free cash flow margin is calculated as net cash provided by operating activities, less purchase of property and equipment, as a percentage of total revenues. 2.1% 13.0% 22.2% Free Cash Flow Margin ($mm)
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Capital Allocation Priorities Strategic Investments and Acquisitions Invest in companies and technologies complementary to our business, and consistent with our strategy Share Repurchases Take a measured approach while prioritizing investments in the business Invest in Profitable Growth Accelerate customer adoption, scale channel ecosystem, broaden market presence, and invest in R&D
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Track Record of Successful M&A Acquisition of UK-based SaaS software provider Torsion, which specializes in data access governance for Microsoft 365 Acquisition of South Korea-based software solutions provider Essential, to expand market reach in South Korea Acquisition of Singapore-based I-Access Solutions, an IT solutions provider for training institutes and academic schools Acquisition of UK-based Combined Knowledge, which specializes in the development and delivery of Collaboration Education and Support Acquisition of Canada-based tyGraph, a platform allowing organizations to organize, measure, and analyze human interactions to accelerate success in the digital workplace Acquisition of I-Access Solutions Acquisition of Combined Knowledge Acquisition of Essential Acquisition of tyGraph Acquisition of Torsion Acquisition of Netherlands-based Ydentic, which specializes in centralized multi-tenant management for Microsoft MSPs, which will drive the continued evolution of Elements, our MSP platform Acquisition of Ydentic FEBRUARY 2022 JUNE 2022 OCTOBER 2022 SEPTEMBER 2022 JULY 2024 JANUARY 2025 • Acquired to offer customers better insights into employee engagement • Invested to further enhance analytics tied to M365, including Copilot • ARR has more than doubled since acquisition • Expect it will continue to perform well, especially as we see Copilot rolled out more widely Acquisition of
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Q2 & Full-Year 2025 Financial Guidance FY 2025 (Current) FY 2025 (Prior) Change at Midpoint($ in mm) Low High Low High Annual Recurring Revenue $411.8 $417.8 $401.3 $407.3 $10.5 y/y growth (reported) 26% 28% 23% 25% 321 bps y/y growth (adjusted for FX) 24% 26% 24% 26% - Total Revenue $397.4 $405.4 $380.0 $388.0 $17.4 y/y growth (reported) 20% 23% 15% 17% 527 bps y/y growth (constant currency) 18% 20% 17% 19% 94 bps Non-GAAP Operating Income $61.4 $64.4 $52.3 $55.3 $9.2 Non-GAAP Operating Margin (reported) 15.5% 15.9% 13.8% 14.3% 168 bps Q2 2025 ($ in mm) Low High Total Revenue $95.3 $97.3 y/y growth (reported) 22% 25% y/y growth (constant currency) 20% 22% Non-GAAP Operating Income $13.2 $14.2 Non-GAAP Operating Margin (reported) 13.9% 14.6%
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Q1 Performance Comparison to Guidance Q1 2025 Revenues $88.8 $0.6 $3.6 $93.1 Q1 guidance (midpoint) Currency impact Q1 performance Q1 actual Q1 2025 Operating Income $11.6 $0.4 $1.4 $13.4 Q1 guidance (midpoint) Currency impact Q1 performance Q1 actual
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Comparison to Previously Issued Full Year Guidance FY 2025 Revenues (estimate) $384.0 $401.4 $13.8 $3.6 Initial guidance (midpoint) Currency impact Q1 performance Updated guidance (midpoint) FY 2025 Operating Income (estimate) FY 2025 ARR (estimate) $404.3 $414.8 $1.3 $9.2 Initial guidance (midpoint) Q1 currency impact Q2-Q4 currency impact Updated guidance (midpoint) $10.5m FY currency tailwind $53.8 $7.8 $1.4 $62.9 Initial guidance (midpoint) Currency impact Q1 performance Updated guidance (midpoint)
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Targets for R&D and Operating Margin are the midpoint of 5 percentage point ranges. See "GAAP to Non-GAAP Reconciliation" slide for add-backs. 2021 2022 2023 2024 Long-Term Target Gross Margin 74% 73% 73% 76% 80% S&M as % of Revenue 44% 43% 38% 34% 30% R&D as % of Revenue 8% 12% 12% 12% 12.5% G&A as % of Revenue 18% 20% 15% 15% 10% Operating Margin 3.1% (1.2%) 8.1% 14.4% 27.5% Stock-Based Compensation 31% 16% 13% 12% <10% Long-Term Non-GAAP Targets $1B ARR 2029
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Tremendous Growth Potential Multiple growth levers to capture new markets and build share in a large and growing TAM Diverse Customer Base Rapidly growing customer base that spans industries, geographies and customer sizes Strong Financial Performance Established track record of execution, highlighted by durable topline growth, improving profitability and strong cash flow generation 1 32 A Compelling Equity Story
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APPENDIX
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The AvePoint Elements Platform Cloud Migration Tenant Baseline Enforcement Cyber Protection Identity Management Workspace Governance Change Management Company A Company I Company B Company H Company G Company F Data Protection Data GovernanceData Security
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Key Balance Sheet Items and Free Cash Flow 20242022 2023 ($ in mm) As of December 31 Cash and cash equivalents 227.2 223.2 290.7 Accounts receivable 66.5 85.9 87.4 Prepaid expenses and other current assets 10.0 12.8 16.5 Property and equipment 5.5 5.1 5.3 Goodwill 18.9 19.2 17.7 Intangible assets 11.1 10.5 8.9 Other assets 76.3 85.9 92.6 Total assets 415.5 442.6 519.1 Accounts payable 1.5 1.4 2.4 Accrued expenses and other current liabilities 47.8 53.8 76.1 Current portion of deferred revenue 93.4 121.5 144.5 Long-term portion of deferred revenue 8.1 7.7 8.8 Other liabilities 21.6 33.3 16.3 Total liabilities 172.4 217.7 248.1 Mezzanine equity 14.0 6.0 0.0 Stockholders' equity 229.1 218.8 270.9 Total liabilities, mezzanine equity, and stockholders' equity 415.5 442.6 519.1 For the Twelve Months Ended December 31 Net cash provided by (used in) operating activities (0.8) 34.7 88.9 Purchase of property and equipment (3.9) (2.1) (3.0) Free cash flow (4.6) 32.6 85.9
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Historical Customer Metrics F I N A N C I A L S CUSTOMER COUNT 2022 2023 2024 Total Customers 17,085 21,214 25,178 RETENTION RATES 2022 2023 2024 Gross Retention Rate 86% 86% 88% Gross Retention Rate (FX Adjusted) 87% 87% 89% Net Retention Rate 103% 108% 110% Net Retention Rate (FX Adjusted) 107% 109% 111% Retention rates are for all customers and on a TTM basis. LARGE CUSTOMER COUNT 2022 2023 2024 Customers > $100K ARR 455 547 666 Customers > $250K ARR 137 178 225 Customers > $500K ARR 40 53 81 Customers > $1M ARR 12 18 26
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 1.Percentages are applicable to incremental ARR. 2.Excludes ARR from maintenance and other legacy products. Totals may not foot due to rounding. 2022 2023 2024 Direct vs. Channel Direct 53% 49% 45% Channel 47% 51% 55% Customer Segment Enterprise 51% 52% 53% Mid-Market 30% 29% 28% Small Business 19% 18% 19% New vs. Existing(1) New Customers 58% 50% 32% Existing Customers 42% 50% 68% Geography North America 45% 45% 44% EMEA 35% 35% 35% APAC 20% 20% 21% Product Suite(2) Control 27% 27% 28% Modernization 15% 12% 11% Resilience 58% 61% 62% ARR Composition F I N A N C I A L S
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. GAAP to Non-GAAP Reconciliation 20242023 ($ in mm) For the Twelve Months Ended December 31 GAAP gross profit $166.1 $194.4 $248.0 GAAP gross margin 71.5% 71.5% 75.0% Stock-based compensation expense & amortization of acquired intangible assets $3.3 $4.1 $2.3 Non-GAAP gross profit $169.3 $198.5 $250.2 Non-GAAP gross margin 72.9% 73.0% 75.7% GAAP operating expenses $207.1 $209.7 $240.8 Stock-based compensation expense & amortization of acquired intangible assets $34.9 $33.4 $38.2 Non-GAAP operating expenses $172.2 $176.3 $202.6 Non-GAAP operating expense as % of revenue 74.1% 64.9% 61.3% GAAP operating income (loss) ($41.1) ($15.4) $7.2 Stock-based compensation expense & amortization of acquired intangible assets $38.2 $37.5 $40.5 Non-GAAP operating income (loss) ($2.9) $22.2 $47.6 Non-GAAP operating margin (1.2%) 8.1% 14.4% 2022 2025 For the Three Months Ended March 31 $69.2 74.3% $0.7 $69.8 75.0% $65.9 $9.4 $56.5 60.7% $3.3 $10.1 $13.4 14.4%
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The Rule of 40 and Other Valuation Metrics Rule of 40 ARR Growth + Non-GAAP Op. margin Rule of 40 Revenue Growth + FCF margin Rule of X (Revenue Growth x 2) + FCF margin 28% 23% 24% (1%) 8% 14%27% 31% 38% 2022 2023 2024 21% 17% 22% (2%) 12% 26% 19% 29% 48% 2022 2023 2024 42% 34% 43% (2%) 12% 26% 40% 46% 69% 2022 2023 2024 Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue; Rule of 40 is calculated as ARR growth plus non-GAAP operating margin; Free cash flow margin is calculated as net cash provided by operating activities, less purchase of property and equipment, as a percentage of total revenues.