Revenue growth has accelerated to 26.0% year-over-year as of 2026Q1, while operating margins have improved from negative territory in early 2024 to a positive 10.9%.
| Sales/Revenue | 443.68M | 419.5M | 330.48M | 271.82M | 232.34M | 191.91M | 151.53M | 116.1M |
| Revenue Growth % | 27.12% | 26.93% | 21.58% | 16.99% | 21.07% | 26.65% | 30.52% | - |
| Cost of Goods Sold | 116.78M | 108.8M | 82.53M | 77.46M | 66.28M | 52.66M | 40.29M | 36.4M |
| COGS % of Revenue | - | 25.94% | 24.97% | 28.5% | 28.53% | 27.44% | 26.59% | 31.35% |
| Gross Profit | 326.9M | 310.7M | 247.96M | 194.37M | 166.06M | 139.25M | 111.24M | 79.7M |
| Gross Margin % | 73.68% | 74.06% | 75.03% | 71.5% | 71.47% | 72.56% | 73.41% | 68.65% |
| Gross Profit Growth % | - | 25.3% | 27.57% | 17.04% | 19.26% | 25.17% | 39.58% | - |
| Operating Expenses | 284.43M | 277.66M | 240.79M | 209.72M | 207.13M | 192.74M | 126.68M | 98.71M |
| OpEx % of Revenue | - | 66.19% | 72.86% | 77.15% | 89.15% | 100.43% | 83.6% | 85.02% |
| Selling, General & Admin | 230.77M | 225.08M | 192.09M | 173.38M | 175.77M | 159.73M | 113.42M | 86.52M |
| SG&A % of Revenue | - | 53.65% | 58.12% | 63.78% | 75.65% | 83.23% | 74.85% | 74.52% |
| Research & Development | 53.66M | 52.59M | 48.7M | 36.34M | 31.36M | 31.77M | 12.2M | 11.15M |
| R&D % of Revenue | - | 12.54% | 14.74% | 13.37% | 13.5% | 16.55% | 8.05% | 9.6% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 1.24M | 1.06M | 1.05M |
| Operating Income | 42.48M | 33.03M | 7.17M | -15.35M | -40.37M | -53.49M | -15.44M | -19.01M |
| Operating Margin % | 9.57% | 7.87% | 2.17% | -5.65% | -17.37% | -27.87% | -10.19% | -16.38% |
| Operating Income Growth % | - | 361% | 146.68% | 61.97% | 24.54% | -246.51% | 18.8% | - |
| EBITDA | 48.82M | 39.24M | 12.55M | -10.66M | -36.87M | -52.25M | -14.38M | -17.96M |
| EBITDA Margin % | 11% | 9.35% | 3.8% | -3.92% | -15.87% | -27.23% | -9.49% | -15.47% |
| EBITDA Growth % | 153.6% | 212.72% | 217.67% | 71.08% | 29.44% | -263.42% | 19.96% | - |
| D&A (Non-Cash Add-back) | 6.35M | 6.21M | 5.38M | 4.69M | 3.49M | 1.24M | 1.06M | 1.05M |
| EBIT | 48.59M | 40.5M | 7.17M | -15.35M | -33.61M | -53.49M | -15.44M | -19.01M |
| Net Interest Income | 4.87M | 0 | 166K | 26K | -40K | 102K | 41K | 56K |
| Interest Income | 4.87M | 0 | 166K | 26K | 0 | 102K | 41K | 56K |
| Interest Expense | 0 | 0 | 0 | 0 | 40K | 0 | 0 | 0 |
| Other Income/Expense | 9.69M | 7.47M | -31.57M | -3.26M | 6.72M | 20.7M | -470K | -548K |
| Pretax Income | 52.16M | 40.5M | -24.4M | -18.61M | -33.65M | -32.79M | -15.91M | -19.56M |
| Pretax Margin % | 11.76% | 9.65% | -7.38% | -6.85% | -14.48% | -17.09% | -10.5% | -16.85% |
| Income Tax | 5.36M | 5.38M | 4.74M | 2.89M | 5.04M | 457K | 1.06M | 317.9K |
| Effective Tax Rate % | 10.28% | 13.29% | -19.44% | -15.51% | -14.97% | -1.39% | -6.68% | -1.63% |
| Net Income | 46.61M | 35.12M | -29.09M | -21.73M | -41.63M | -35.22M | -17M | 2.97M |
| Net Margin % | 10.51% | 8.37% | -8.8% | -7.99% | -17.92% | -18.35% | -11.22% | 2.55% |
| Net Income Growth % | 294.74% | 220.73% | -33.9% | 47.81% | -18.2% | -107.22% | -673.15% | - |
| Net Income (Continuing) | 46.8M | 35.12M | -29.14M | -21.5M | -38.69M | -33.24M | -16.97M | 2.97M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 1.79M | 14.24M | 14.01M | 5.21M | 3.06M | 0 |
| EPS (Diluted) | 0.21 | 0.15 | -0.16 | -0.12 | -0.23 | -0.48 | -0.57 | 0.07 |
| EPS Growth % | 254.79% | 193.75% | -33.33% | 47.83% | 52.08% | 15.79% | -946.95% | - |
| EPS (Basic) | - | 0.17 | -0.16 | -0.12 | -0.23 | -0.48 | -0.57 | 0.07 |
| Diluted Shares Outstanding | 226.11M | 229.29M | 183.72M | 182.26M | 181.96M | 141.6M | 89.64M | 44.06M |
| Basic Shares Outstanding | 213.27M | 207.59M | 183.72M | 182.26M | 181.96M | 141.6M | 89.64M | 44.06M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Microsoft platform dependency risk
According to quarterly financial disclosures, AvePoint has demonstrated consistent top-line expansion, with revenue climbing from $74.6 million in 2023Q4 to $117.2 million by 2026Q1, representing a robust growth trajectory that appears to be accelerating as the company captures demand for AI-ready data governance solutions.
The consistent double-digit year-over-year revenue growth suggests that the company is successfully capitalizing on the Microsoft 365 ecosystem expansion. This trend implies that the firm's transition to a subscription-heavy model is yielding predictable, durable demand, though investors should monitor whether this pace can be maintained as the installed base matures.
As reported in recent income statements, AvePoint has successfully transitioned from operating losses in early 2024 to a positive operating margin of 10.9% in 2026Q1, indicating that the company is beginning to realize significant economies of scale across its fixed cost base.
The ability to grow operating income faster than revenue suggests that management is exercising disciplined control over SG&A expenses relative to top-line gains. This shift appears to validate the scalability of the SaaS model, provided that R&D investments remain sufficient to maintain the competitive moat against native Microsoft tools.
Based on the provided income statement data, AvePoint's net income remains sensitive to stock-based compensation, which averaged approximately $9.5 million per quarter over the last ten periods, potentially masking the true underlying cash profitability of the core software business for some investors.
While GAAP net income has turned positive, the persistent level of stock-based compensation warrants careful scrutiny regarding shareholder dilution. Investors should interpret these earnings figures as being partially supported by non-cash equity grants, which may overstate the company's current ability to generate organic, cash-based net income.
Data from the latest filings indicate that gross margins have stabilized in the 72% to 74% range, reflecting the inherent cost structure of hosting services and the lower-margin professional services segment that accompanies complex enterprise software deployments.
The stability in gross margins suggests that the company is managing its cloud hosting costs effectively despite the inherent volatility of service-heavy revenue. However, the reliance on professional services as a customer acquisition tool may continue to act as a ceiling on overall gross margin expansion in the near term.
Quick answers to the most common questions about buying AVPT stock.
For fiscal year 2025, AvePoint, Inc. (AVPT) reported total revenue of $419.5M. This represents a 261.3% increase compared to $116.1M in 2019.
AvePoint, Inc. (AVPT) is profitable, generating $35.1M in net income for the fiscal year ending 2025 with a net profit margin of 8.4%.
AvePoint, Inc. (AVPT) reported an operating income of $33.0M, resulting in an operating profit margin of 7.9%. This margin reflects the operational efficiency of the business before interest and taxes.
AvePoint, Inc. (AVPT) generated $310.7M in gross profit for the year, representing a gross profit margin of 74.1%. This demonstrates the company's core pricing power and production efficiency.