avpt20260331

avpt20260331_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to ___________.

Commission file number: 001-39048

AvePoint, Inc.

(Exact name of registrant as specified in its charter)

Delaware	83-4461709
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

525 Washington Blvd, Suite 1400

Jersey City, NJ 07310

(Address of principal executive offices) (Zip Code)

(804) 314-5903

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report).

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		AVPT		The Nasdaq Global Select Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒	Accelerated filer ☐
Non-accelerated filer ☐	Smaller reporting company ☐
	Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 6, 2026, there were 212,017,196 shares of the registrant’s common stock, par value $0.0001 per share, issued and outstanding.

Table of Contents

AVEPOINT, INC.

FORM 10-Q

For the Fiscal Quarter Ended March 31, 2026

TABLE OF CONTENTS

	Page
FORWARD-LOOKING STATEMENTS	3
PART I. FINANCIAL INFORMATION	4
Item 1. Financial Statements	4
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	29
Item 3. Quantitative and Qualitative Disclosures About Market Risk	42
Item 4. Controls and Procedures	43
PART II. OTHER INFORMATION	44
Item 1. Legal Proceedings	44
Item 1A. Risk Factors	44
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities	45
Item 3. Defaults Upon Senior Securities	45
Item 4. Mine Safety Disclosures	45
Item 5. Other Information	46
Item 6. Exhibits	47
Signatures	48

Table of Contents

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (this “Quarterly Report”) of AvePoint, Inc. (hereinafter referred to as the “Company,” “AvePoint,” “we," “us” and “our”) includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements, as well as descriptions of the risks and uncertainties that could cause actual results and events to differ materially, may appear throughout this Quarterly Report, including in the following sections: “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (Part I, Item 2 of this Quarterly Report), “Quantitative and Qualitative Disclosures about Market Risk” (Part I, Item 3 of this Quarterly Report), and “Risk Factors” (Part II, Item 1A of this Quarterly Report). These risks and uncertainties also include, but are not limited to, those described from time to time in the Company’s reports filed with the Securities and Exchange Commission (“SEC”).

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. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events, or developments that we expect or anticipate will occur in the future — including statements relating to volume growth, sales, earnings, and statements expressing general views about future operating results — are forward-looking statements. These forward-looking statements are, by their nature, subject to significant risks and uncertainties, and are based on the beliefs of, as well as assumptions made by and information currently available to, our management. Our management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Readers should evaluate all forward-looking statements made in the context of these risks and uncertainties. The important factors referenced above may not contain all of the factors that are important to investors.

In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our operations in the way we expect. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by these cautionary statements as well as other cautionary statements that are made from time to time in our other SEC filings and public communications.

Table of Contents

PART I

Item 1

PART I. FINANCIAL INFORMATION.

Item 1. Financial Statements.

Index to Financial Statements (Unaudited)		Page
Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025		5
Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2026 and 2025		6
Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2026 and 2025		7
Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2026 and 2025		8
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025		9
Notes to Condensed Consolidated Financial Statements		10

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AvePoint, Inc.

Condensed Consolidated Balance Sheets

(In thousands, except par value)

(Unaudited)

	*March 31,*			*December 31,*
	*2026*			*2025*
Assets
Current assets:
Cash and cash equivalents	$	444,135		$	481,060
Accounts receivable, net		100,406			124,526
Prepaid expenses and other current assets		17,708			19,726
Total current assets		562,249			625,312
Property and equipment, net		6,593			6,020
Goodwill		37,177			37,986
Intangible assets, net		11,512			12,052
Operating lease right-of-use assets		21,664			16,824
Deferred contract costs		71,625			71,257
Other assets		23,370			19,730
Total assets	$	734,190		$	789,181
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	4,049		$	3,805
Accrued expenses and other current liabilities		67,500			84,191
Current portion of deferred revenue		188,711			185,696
Total current liabilities		260,260			273,692
Long-term operating lease liabilities		13,271			9,949
Long-term portion of deferred revenue		14,877			15,260
Other liabilities		6,975			11,581
Total liabilities		295,383			310,482
Commitments and contingencies (Note 10)
Stockholders’ equity
Common stock, $0.0001 par value; 1,000,000 shares authorized, 211,854 and 215,076 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively		21			22
Additional paid-in capital		963,971			980,389
Accumulated other comprehensive income		6,131			8,366
Accumulated deficit		(531,316	)		(510,078	)
Total stockholders’ equity		438,807			478,699
Total liabilities and stockholders’ equity	$	734,190		$	789,181

See accompanying notes.

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AvePoint, Inc.

Condensed Consolidated Statements of Income

(In thousands, except per share amounts)

(Unaudited)

	*Three Months Ended*
	*March 31,*
	*2026*		*2025*
Revenue:
SaaS	$	93,382	$	68,942
Term license and support		9,319		13,185
Services		14,541		10,937
Total revenue		117,242		93,064
Cost of revenue:
SaaS		16,762		12,537
Term license and support		281		564
Services		14,830		10,798
Total cost of revenue		31,873		23,899
Gross profit		85,369		69,165
Operating expenses:
Sales and marketing		42,010		34,522
General and administrative		16,872		18,667
Research and development		13,760		12,689
Total operating expenses		72,642		65,878
Income from operations		12,727		3,287
Other income, net		3,810		1,586
Income before income taxes		16,537		4,873
Income tax expense		1,287		1,307
Net income	$	15,250	$	3,566
Net income attributable to noncontrolling interest		—		126
Net income available to common stockholders	$	15,250	$	3,440
Net income per share:
Basic	$	0.07	$	0.02
Diluted	$	0.07	$	0.02
Weighted average shares outstanding:
Basic		213,266		197,924
Diluted		226,107		224,573

See accompanying notes.

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AvePoint, Inc.

Condensed Consolidated Statements of Comprehensive Income

(In thousands)

(Unaudited)

	*Three Months Ended*
	*March 31,*
	*2026*			*2025*
Net income	$	15,250		$	3,566
Other comprehensive (loss) income net of taxes
Unrealized loss on available-for-sale securities		(7	)		(12	)
Foreign currency translation adjustments		(2,228	)		1,148
Total other comprehensive (loss) income		(2,235	)		1,136
Total comprehensive income	$	13,015		$	4,702
Comprehensive income attributable to noncontrolling interest		—			156
Total comprehensive income available to common stockholders	$	13,015		$	4,546

See accompanying notes.

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AvePoint, Inc.

Condensed Consolidated Statements of Stockholders’ Equity

(In thousands, except share amounts)

(Unaudited)

	*Three Months Ended March 31, 2026*
													Accumulated
							Additional						Other		Total
	Common Stock						Paid-In			Accumulated			Comprehensive		Stockholders’
	Shares			Amount			Capital			Deficit			Income		Equity
Balance, December 31, 2025		215,076,033		$	22		$	980,389		$	(510,078	)	$	8,366	$	478,699
Proceeds from exercise of options		581,088			—			942			—			—		942
Common stock issued upon vesting of restricted stock units		1,609,573			—			—			—			—		—
Stock-based compensation expense		—			—			7,270			—			—		7,270
Repurchase and retirement of common stock		(5,412,958	)		(1	)		(24,630	)		(36,488	)		—		(61,119	)
Comprehensive income:

SEC Form 10-Q filed by AvePoint Inc.