Q2 2026 AvePoint, Inc. Earnings Call Transcript
Key Points
- AvePoint Inc (AVPT) delivered strong Q2 results, outperforming all guided metrics with total revenue growth of 22% year-over-year and record net new ARR of $29.9 million, up 35% year-over-year.
- The company saw accelerating demand for its new AgentPulse product, which drove a doubling of Control package customers quarter-over-quarter and deals that are 2-3 times larger in value.
- AvePoint Inc (AVPT) achieved record customer cohort growth, with customers over $250K, $500K, and $1M ARR each growing at or above 30%, and added a record number of new SMB logos.
- The company reported its eighth straight quarter of GAAP operating profitability, with GAAP operating margins expanding to 8.2% and free cash flow surpassing $100 million on a trailing twelve-month basis.
- AvePoint Inc (AVPT) raised its full-year ARR guidance and continues to see strong momentum across all regions, with EMEA ARR growing 34% and all three regions now exceeding $100 million in ARR.
- AvePoint Inc (AVPT) faces incremental FX headwinds that are offsetting some of its operational outperformance, with a $5.6 million impact on full-year revenue guidance.
- The company's net revenue retention (NRR) remains at 110%, below its long-term target of 115%, as the impact of AgentPulse and Control bundle sales has not yet fully translated into expansion metrics.
- Gross margin declined year-over-year to 73.7% from 74.8%, driven by lower services gross margins, although software product margins remained stable at 83%.
- AvePoint Inc (AVPT) is increasing its expense plans for the second half of the year, which will temper near-term operating margin expansion despite the strong demand environment.
- The company's migration products continue to act as a two-point headwind to gross retention rates (GRR), which remained at 89% in the quarter.
Good day, and welcome to the AvePoint Inc. second quarter 2026 results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to James Arestia, Head of Investor Relations.
Thank you, operator. Good afternoon, and welcome to AvePoint's second quarter 2026 earnings call. With me on the call this afternoon is Dr. Tianyi Jiang, Chief Executive Officer, and Jim Caci, Chief Financial Officer. After preliminary remarks, we will open the call for a question-and-answer session. Please note that this call will include forward-looking statements that involve risks and uncertainties that could cause actual results to differ
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