Highlights

  • Second quarter 2026 total revenue was $124,495 thousand, compared with $102,018 thousand, and net income was $27,570 thousand.
  • Total annual recurring revenue was $465.1 million as of June 30, 2026, compared with $367.6 million a year earlier.
  • Cash and cash equivalents were $417.3 million as of June 30, 2026, with no outstanding debt.
  • Management guided 2026 revenue of $508.5 million to $512.5 million and annual recurring revenue of $522.1 million to $528.1 million.

AvePoint, Inc. (NASDAQ:AVPT) shares were trading at USD 17.01 on October 28, 2026, up 3.34%, with a relative volume at time of 3.02. The data protection software company filed its 10-Q for the second quarter ended June 30, 2026 on August 6, and management gave updated guidance on its August 13 earnings call.

AvePoint is incorporated in Delaware and lists its principal executive offices in Jersey City, New Jersey, with its principal operating headquarters in Richmond, Virginia. The company is a global provider of data protection, helping organizations secure, govern and operationalize data across major cloud ecosystems through the AvePoint Confidence Platform. It generates revenue from SaaS, term license and support, and services. Its fiscal year ends December 31.

Second Quarter 2026 Results

Total revenue for the three months ended June 30, 2026 was $124,495 thousand, compared with $102,018 thousand, an increase of 22.0%. SaaS revenue was $98,511 thousand, compared with $77,317 thousand. Term license and support revenue was $10,245 thousand, compared with $10,215 thousand, and services revenue was $15,739 thousand, compared with $14,486 thousand.

Gross profit was $91,006 thousand, and gross margin was 73.1%, compared with 74.0%. Income from operations was $10,224 thousand, compared with $7,094 thousand. The company recorded an income tax benefit of $15,559 thousand, compared with income tax expense of $3,961 thousand, which it attributed primarily to a $19.9 million release of the valuation allowance on certain deferred tax assets.

Net income was $27,570 thousand, compared with $2,893 thousand, and diluted net income per share was $0.12, compared with $0.01. On a non-GAAP basis, operating margin was 16.3%, compared with 18.4%, which the company attributed to its plan to increase investments across the business in 2026.

For the six months ended June 30, 2026, total revenue was $241,737 thousand and net income was $42,820 thousand, compared with $6,459 thousand.

Balance Sheet, Cash Flow and Capital

As of June 30, 2026, the company had $417.3 million in cash and cash equivalents and no outstanding debt. It maintains a loan agreement with HSBC Bank USA, National Association for a revolving line of credit of up to $30.0 million, which matures on November 3, 2026. No borrowings were outstanding, and the company was compliant with all covenants.

Net cash provided by operating activities for the six months was $40,202 thousand, compared with $20,765 thousand. Net cash used in financing activities was $99,686 thousand, primarily consisting of $110.3 million in repurchases of common stock under a Share Repurchase Program that authorizes up to $150 million, partially offset by $12.5 million of proceeds from stock option exercises.

On the call, the chief financial officer said the company had spent $121.5 million this year on share repurchases and had approximately $108.6 million remaining in the program.

Business Developments and Outlook

The company released its third annual State of AI report and announced advancements to the AvePoint Confidence Platform extending governance, security, recovery and backup controls to agentic AI, new enterprise applications and multicloud infrastructure.

On the August 13, 2026 call, management guided third quarter revenue of $128.2 million to $130.2 million and non-GAAP operating income of $21 million to $22 million. For full-year 2026, management expects total annual recurring revenue of $522.1 million to $528.1 million, total revenue of $508.5 million to $512.5 million and non-GAAP operating income of $86.4 million to $88.4 million.

Management said the full-year revenue guidance includes a $5.6 million foreign exchange headwind and that it is increasing its expense plans for the second half of the year, with a focus on technology and go-to-market capacity.