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Jun 30, 2021
Avepoint Q2 2021 Earnings Report
Announced second quarter 2021 financial results, demonstrating revenue growth and strategic investments.
Key Takeaways
AvePoint reported a record revenue of $45.3 million for the second quarter of 2021, a 38% increase year-over-year. The growth was driven by the continued adoption of Microsoft Teams and collaboration security technologies. The company is focused on expanding its market share, improving customer retention, and growing in the SMB market through channel partners.
Total revenue reached $45.3 million, up 38% year-over-year.
Total ARR reached $139.0 million as of June 30, 2021, up 33% year-over-year.
SaaS revenue increased to $20.6 million, a 76% year-over-year increase.
AvePoint's SaaS cloud platform achieved FedRAMP Authorization.
Avepoint
Avepoint
Forward Guidance
AvePoint provided financial outlook for the third quarter and full year 2021.
Positive Outlook
- Expects total revenues between $51.5 and $53.5 million for Q3 2021
- Projects non-GAAP operating income between $1.7 and $3.2 million for Q3 2021
- Anticipates total revenues between $192.0 and $196.0 million for the full year 2021
- Forecasts non-GAAP operating income between $4.7 and $7.7 million for the full year 2021
- Continued expansion in user base with more than 8 million cloud users