AvePoint: Fiscal 1Q26 Financial Results

Summary:

First quarter SaaS revenue of $93.4 million, representing 35% YoY growth, 29% on a constant currency basis
First quarter Total revenue of $117.2 million, representing 26% YoY growth, 20% on a constant currency basis
Total ARR of $435.2 million, representing 26% YoY growth, 23% adjusted for FX

AvePoint, a player in AI data protection, unifying data security, governance and resilience, announced financial results for the first quarter ended March 31, 2026.“Our first quarter results mark a strong start to the year, as our leading position at the intersection of data protection and security, coupled with the demand for secure, automated, and AI-ready solutions, enabled us to outperform our guidance on the top and bottom line, secure our twelfth straight quarter of double-digit growth in organic net new ARR, and deliver more than 700 basis points of GAAP operating margin expansion,” said Dr. Tianyi Jiang (TJ), CEO and co-founder, AvePoint. “Our unique ability to provide real-time visibility, automated governance, and granular recovery across the data estate is rapidly transforming AI risk into a manageable variable for our customers, and this competitive advantage ensures a durable opportunity for AvePoint to support organizations around the world.”

First Quarter 2026 Financial Highlights

Revenue: Total revenue was $117.2 million, up 26% from the first quarter of 2025. Within total revenue, SaaS revenue was $93.4 million, up 35% from the first quarter of 2025
Gross Profit: GAAP gross profit was $85.4 million, compared to $69.2 million for the first quarter of 2025. GAAP gross margin was 72.8%, compared to 74.3% for the first quarter of 2025. Non-GAAP gross profit was $86.1 million, compared to $69.8 million for the first quarter of 2025. Non-GAAP gross margin was 73.4%, compared to 75.0% for the first quarter of 2025
Operating Income: GAAP operating income was $12.7 million, compared to $3.3 million for the first quarter of 2025. GAAP operating margin was 10.9%, compared to 3.5% for the first quarter of 2025. Non-GAAP operating income was $20.5 million, compared to $13.4 million for the first quarter of 2025. Non-GAAP operating margin was 17.5%, compared to 14.4% for the first quarter of 2025
Cash and cash equivalents: $444.1 million as of March 31, 2026
Cash from operations: For the three months ended March 31, 2026, the Company generated $24.3 million of cash from operations, compared to $0.5 million in the prior year period

First Quarter 2026 Key Performance Indicators and Recent Business Highlights

ARR as of March 31, 2026 was $435.2 million, up 26% YoY. Adjusted for FX, ARR grew 23%
Dollar-based gross retention rate was 89% on a reported and FX-adjusted basis, while dollar-based net retention rate was 111% on a reported basis and 110% when adjusted for FX
Announced the general availability of its AgentPulse Command Center, which provides unified monitoring, governance, and cost control for AI agents across Microsoft 365 and Google Cloud environments, and helps organizations manage shadow AI and data exposure
Announced major upgrades to the AvePoint Confidence Platform, adding agentic AI governance, rapid multicloud recovery focused on restoring core business operations, and scalable automation tools to strengthen data security and resilience
Renewed the existing Share Repurchase Program for an additional three years, providing the authority to buy up to $150.0 million of the Company’s common stock

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Financial Outlook
The company is raising its full-year guidance for annual recurring revenue, and the company’s updated full-year guidance for revenue and non-GAAP operating income includes the respective first quarter outperformance relative to guidance. Additionally, the Company’s updated financial guidance reflects the current expected headwind from the fluctuation in foreign exchange rates for all metrics, which more than offset the raise in ARR and the first quarter outperformance for revenue and non-GAAP operating income.

For the second quarter of 2026, the company expects:

Total revenues of $120.3 million to $122.3 million, or YoY growth of 19% at the midpoint. On a constant currency basis, the Company expects revenue growth of 18% at the midpoint
Non-GAAP operating income of $18.7 million to $19.7 million

For the full year 2026, the company now expects:

Total ARR of $523.4 million to $529.4 million, or YoY growth of 26% at the midpoint. Adjusted for FX, the Company continues to expect ARR growth of 26% at the midpoint
Total revenues of $509.4 million to $515.4 million, or YoY growth of 22% at the midpoint. On a constant currency basis, the Company expects revenue growth of 20% at the midpoint
Non-GAAP operating income of $91.5 million to $94.5 million