Highlights

  • Second quarter 2026 revenue rose 22% to $124.5 million, with SaaS revenue up 27% to $98.5 million.
  • Annual recurring revenue reached $465.1 million at June 30, up 27% year over year, or 24% adjusted for currency.
  • GAAP net income rose to $27.6 million, or $0.12 diluted, including a $19.9 million valuation allowance release.
  • The company held $417.3 million of cash with no debt and repurchased $110.3 million of stock in six months.

AvePoint, Inc. (NASDAQ:AVPT) shares were trading near their 52-week high at USD 15.77 on October 21, 2026, up 3.51%. The data protection software company renewed its share repurchase program in May, released its third annual State of AI report, and reported second quarter results in a Form 10-Q filed on August 6.

Based in Jersey City, New Jersey, AvePoint was incorporated as a New Jersey corporation in 2001 and redomiciled as a Delaware corporation in 2006. It describes itself as a global provider of modern 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, and reports as one operating segment. Its common stock trades on the Nasdaq Global Select Market, with a secondary listing in Singapore, and its fiscal year ends December 31.

SaaS Growth Lifts Revenue 22%

Revenue for the three months ended June 30, 2026 was $124.5 million, up from $102.0 million. SaaS revenue climbed 27.4% to $98.5 million and made up 79% of revenue, versus 76% a year earlier. Term license and support revenue was flat at $10.2 million, and services revenue grew 8.6% to $15.7 million. North America grew 23.1%, EMEA 26.6% and APAC 15.9%, and total revenue growth was 21% in constant currency.

Total annual recurring revenue (ARR) was $465.1 million at June 30, up 27% from $367.6 million, or 24% adjusted for foreign exchange. Remaining performance obligations were $559.4 million, of which $477.8 million related to SaaS and term license and support.

Margins, Net Income and Tax Benefit

Gross profit rose 20.5% to $91.0 million, and gross margin eased to 73.1% from 74.0%. Sales and marketing expense increased 27.3% to $45.5 million and research and development 27.8% to $16.6 million, while general and administrative expense fell 5.3% to $18.7 million. Income from operations was $10.2 million, an 8.2% GAAP margin versus 7.0%.

Non-GAAP operating income was $20.3 million, a 16.3% margin, compared with $18.8 million and 18.4%. The company attributed the lower non-GAAP margin mainly to planned 2026 investments across the business.

Net income was $27.6 million against $2.9 million, with an income tax benefit of $15.6 million. The benefit was primarily from a $19.9 million release of a valuation allowance on certain deferred tax assets. Diluted earnings per share were $0.12 versus $0.01. Six-month operating cash flow was $40.2 million, up from $20.8 million.

Balance Sheet, Buybacks and Product News

Cash and cash equivalents were $417.3 million at June 30, 2026, and the company had no debt. It maintains a $30.0 million revolving line of credit with HSBC, with a $20.0 million accordion, which is undrawn, matures November 3, 2026, and was covenant compliant at quarter end.

Financing activities used $99.7 million in six months, mainly $110.3 million of stock repurchases, partly offset by $12.5 million from option exercises. On May 5, 2026, the board renewed its share repurchase program for three years, with authority to buy up to $150 million.

Among product developments, the company announced advances to the AvePoint Confidence Platform that extend governance, security, recovery and backup controls to agentic AI, new enterprise applications and multicloud infrastructure.

Outlook and What to Watch

The 10-Q includes no quantitative revenue or earnings guidance. Management believes cash and operating cash flow will cover working capital and capital expenditure needs for at least 12 months, and said it may raise capital through equity or debt in the future, noting that equity sales would dilute stockholders. It also plans increased investment across the business in 2026 and attributed the lower non-GAAP operating margin to that spending. These are company expectations, and the figures cover the quarter ended June 30, 2026.