Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2021 | |
Document Information [Line Items] | |
Entity Central Index Key | 0001777921 |
Entity Registrant Name | AvePoint, Inc. |
Amendment Flag | true |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2021 |
Document Type | POS AM |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 83-4461709 |
Entity Address, Address Line One | 525 Washington Blvd, Suite 1400 |
Entity Address, City or Town | Jersey City |
Entity Address, State or Province | NJ |
Entity Address, Postal Zip Code | 07310 |
City Area Code | 201 |
Local Phone Number | 793-1111 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Amendment Description | AvePoint, Inc., a Delaware corporation, filed a Registration Statement on Form S-1 on July 23, 2021, which was amended on August 5, 2021 (the “Pre-Effective Amendment”), and which was declared effective on August 9, 2021 (as amended and supplemented, the “Registration Statement”). This Post-Effective Amendment No. 1 to Form S-1 (the “Post-Effective Amendment”) is being filed in order to update certain disclosures in the Registration Statement. |
Consolidated Balance Sheets
Consolidated Balance Sheets $ in Thousands, SDG in Millions | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Assets | ||
Cash and cash equivalents | $ 268,217 | $ 69,112 |
Short-term investments | 2,411 | 992 |
Accounts receivable, net of allowance of $838 and $1,767 as of December 31, 2021 and December 31, 2020, respectively | 55,067 | 48,250 |
Prepaid expenses and other current assets | 8,461 | 2,343 |
Total current assets | 334,156 | 120,697 |
Property and equipment, net | 3,922 | 2,663 |
Deferred contract costs | 38,926 | 31,943 |
Long-term unbilled receivables | 6,268 | 5,499 |
Other assets | 5,466 | 8,252 |
Total assets | 388,738 | 169,054 |
Accounts payable | 1,824 | 774 |
Accrued expenses and other liabilities | 35,062 | 26,245 |
Current portion of deferred revenue | 74,294 | 65,203 |
Total current liabilities | 111,180 | 92,222 |
Long-term portion of deferred revenue | 8,038 | 9,485 |
Share-based awards classified as liabilities | 0 | 43,502 |
Earn-out shares liabilities | 10,012 | 0 |
Other non-current liabilities | 3,943 | 3,658 |
Total liabilities | 133,173 | 148,867 |
Commitments and contingencies (Note 10) | ||
Mezzanine equity | ||
Redeemable noncontrolling interest | 5,210 | 3,061 |
Total mezzanine equity | 5,210 | 213,014 |
Common stock, $0.0001 par value; 1,000,000 and 243,360 shares authorized, 181,822 and 100,068 shares issued and outstanding, at December 31, 2021 and December 31, 2020, respectively | 18 | 12 |
Additional paid-in capital | 625,056 | 105,159 |
Treasury stock | (1,739) | 0 |
Accumulated other comprehensive income | 2,317 | 1,791 |
Accumulated deficit | (375,297) | (299,789) |
Total stockholders’ equity (deficiency) | 250,355 | (192,827) |
Total liabilities, mezzanine equity, and stockholders’ equity (deficiency) | 388,738 | 169,054 |
Redeemable Convertible Preferred Stock [Member] | ||
Mezzanine equity | ||
Temporary Equity, Carrying Amount, Attributable to Parent | 0 | 183,390 |
Redeemable Common Shares [Member] | ||
Mezzanine equity | ||
Temporary Equity, Carrying Amount, Attributable to Parent | 0 | 25,074 |
Share-based Awards [Member] | ||
Mezzanine equity | ||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 0 | $ 1,489 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) $ in Thousands | Dec. 31, 2020USD ($)$ / sharesshares |
Accounts receivable, allowance | $ | $ 1,767 |
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 |
Common stock, shares authorized (in shares) | 243,360,000 |
Common stock, shares issued (in shares) | 100,068,469 |
Common stock, shares outstanding (in shares) | 100,068,469 |
Redeemable Convertible Preferred Stock [Member] | |
Redeemable convertible preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 |
Redeemable convertible preferred stock, shares authorized (in shares) | 94,695,000 |
Redeemable convertible preferred stock, shares issued (in shares) | 42,001,000 |
Redeemable convertible preferred stock, shares outstanding (in shares) | 42,001,000 |
Redeemable convertible preferred stock, liquidation preference | $ | $ 403,361 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue: | |||
Revenue | $ 191,909 | $ 151,533 | $ 116,099 |
Cost of revenue: | |||
Cost of revenue | 52,664 | 40,290 | 36,399 |
Gross profit | 139,245 | 111,243 | 79,700 |
Operating expenses: | |||
Sales and marketing | 100,512 | 76,545 | 61,901 |
General and administrative | 59,221 | 36,872 | 24,614 |
Research and development | 31,765 | 12,204 | 11,148 |
Depreciation and amortization | 1,238 | 1,059 | 1,049 |
Total operating expenses | 192,736 | 126,680 | 98,712 |
Loss from operations | (53,491) | (15,437) | (19,012) |
Change in earn-out shares liabilities and warrant liabilities | 21,233 | 0 | 0 |
Interest income, net | 102 | 41 | 56 |
Other expense, net | (632) | (511) | (604) |
Loss before income taxes | (32,788) | (15,907) | (19,560) |
Income tax expense | 457 | 1,062 | 614 |
Net loss | (33,245) | (16,969) | (20,174) |
Net loss attributable to and accretion of redeemable noncontrolling interest | (1,974) | (27) | 0 |
Net loss attributable to AvePoint, Inc. | (35,219) | (16,996) | (20,174) |
Deemed dividends on preferred stock | (32,928) | (34,446) | (107,469) |
Net loss available to common shareholders | $ (68,147) | $ (51,442) | $ (127,643) |
Loss per share: | |||
Basic (in dollars per share) | $ (0.48) | $ (0.57) | $ (1.72) |
Diluted (in dollars per share) | $ (0.48) | $ (0.57) | $ (1.72) |
Shares used in computing loss per share: | |||
Basic (in shares) | 141,596 | 89,638 | 74,006 |
Diluted (in shares) | 141,596 | 89,638 | 74,006 |
SaaS [Member | |||
Revenue: | |||
Revenue | $ 85,580 | $ 52,074 | $ 27,744 |
Cost of revenue: | |||
Cost of revenue | 19,039 | 11,050 | 7,500 |
Termed License and Support [Member] | |||
Revenue: | |||
Revenue | 50,970 | 38,949 | 26,985 |
Cost of revenue: | |||
Cost of revenue | 950 | 1,930 | 1,897 |
Service [Member] | |||
Revenue: | |||
Revenue | 31,919 | 34,140 | 26,662 |
Cost of revenue: | |||
Cost of revenue | 30,726 | 26,089 | 24,727 |
Maintenance [Member] | |||
Revenue: | |||
Revenue | 21,022 | 23,462 | 29,122 |
Cost of revenue: | |||
Cost of revenue | 1,949 | 1,221 | 2,275 |
License [Member] | |||
Revenue: | |||
Revenue | $ 2,418 | $ 2,908 | $ 5,586 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net loss | $ (33,245) | $ (16,969) | $ (20,174) |
Other comprehensive income net of taxes | |||
Foreign currency translation adjustments | 463 | 217 | 347 |
Total other comprehensive income | 463 | 217 | 347 |
Total comprehensive loss | (32,782) | (16,752) | (19,827) |
Comprehensive income attributable to redeemable noncontrolling interests | (1,911) | (27) | 0 |
Total comprehensive loss attributable to AvePoint, Inc | $ (34,693) | $ (16,779) | $ (19,827) |
Consolidated Statements of Mezz
Consolidated Statements of Mezzanine Equity and Stockholders' Deficiency - USD ($) $ in Thousands | Total | Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Redeemable Convertible Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Temporary Equity [Member]Redeemable Convertible Preferred Stock [Member] | Temporary Equity [Member]Redeemable Convertible Preferred Stock [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Temporary Equity [Member]Redeemable Convertible Preferred Stock [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Temporary Equity [Member]Redeemable Common Shares [Member] | Temporary Equity [Member]Redeemable Common Shares [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Temporary Equity [Member]Redeemable Common Shares [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Temporary Equity [Member]Share-based Awards [Member] | Temporary Equity [Member]Share-based Awards [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Temporary Equity [Member]Share-based Awards [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Temporary Equity [Member]Series C Preferred Stock [Member] | Temporary Equity [Member]Series A Preferred Stock [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Noncontrolling Interest [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member]Series C Preferred Stock [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member]Series A Preferred Stock [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member]Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Common Stock [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Additional Paid-in Capital [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Treasury Stock [Member] | Treasury Stock [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Treasury Stock [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Retained Earnings [Member] | Retained Earnings [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Retained Earnings [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]Series A Preferred Stock [Member] | Retained Earnings [Member]Series B Preferred Stock [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member]Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | AOCI Attributable to Parent [Member]Reclassification of Share-based Awards from Liabilities and Temporary Equity to Permanent Equity [Member] | |||
Balance, temporary equity, shares (in shares) at Dec. 31, 2018 | [1] | 58,529,461 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2018 | $ 108,958 | $ 0 | $ 774 | $ 0 | $ 109,732 | |||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | [1] | 73,838,841 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ (142,809) | $ 47,975 | $ 9 | $ 10,244 | $ (154,289) | $ 47,975 | $ 1,227 | |||||||||||||||||||||||||||||||||||||||||
Reclassification of share-based awards to mezzanine equity | (517) | 0 | 0 | 517 | 0 | 517 | 0 | (517) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Remeasurement of redemption value of common shares | $ (10,684) | 0 | 10,684 | 0 | 0 | 10,684 | $ 0 | (10,684) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | 451,953 | 451,955 | [1] | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of options | $ 88 | 88 | ||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 3,094 | 3,094 | ||||||||||||||||||||||||||||||||||||||||||||||
Remeasurement of redemption value of convertible preferred stock | (3,013) | $ 3,013 | 3,013 | (3,013) | ||||||||||||||||||||||||||||||||||||||||||||
Net loss | (20,174) | $ 0 | 0 | (20,174) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to and accretion of redeemable noncontrolling interest | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 347 | $ 0 | 0 | 0 | 347 | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from the issuance of common stock, net of issuance costs (in shares) | 42,000,593 | 10,040,777 | [1] | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the issuance of common stock, net of issuance costs | 33,670 | $ 145,230 | $ 145,230 | $ 1 | 33,669 | |||||||||||||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock (in shares) | (43,603,859) | [1] | (5,834,851) | |||||||||||||||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock | $ (80,695) | $ (9,258) | $ (9,258) | $ (80,695) | ||||||||||||||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock | $ (8,030) | $ (81,018) | $ (8,030) | $ (81,018) | ||||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2019 | [1] | 51,091,344 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2019 | $ 182,656 | 10,684 | 1,291 | 0 | 194,631 | |||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | [1] | 84,331,573 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | (198,682) | $ 10 | 33,691 | (233,957) | 1,574 | |||||||||||||||||||||||||||||||||||||||||||
Options reclassified from permanent equity to liability | (2,203) | (2,203) | ||||||||||||||||||||||||||||||||||||||||||||||
Deemed dividend on extinguishment of Series B convertible preferred stock | 15,408 | $ 15,408 | ||||||||||||||||||||||||||||||||||||||||||||||
Deemed dividend on extinguishment of Series B convertible preferred stock | $ (15,408) | $ (15,408) | ||||||||||||||||||||||||||||||||||||||||||||||
Reclassification of share-based awards to mezzanine equity | (198) | 0 | 0 | 198 | 0 | 198 | 0 | (198) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Remeasurement of redemption value of common shares | $ (14,390) | 0 | 14,390 | 0 | 0 | 14,390 | $ 0 | 0 | (14,390) | 0 | ||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | 707,888 | 759,293 | [1] | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of options | $ 612 | $ 0 | 612 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 3,277 | 0 | 3,277 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Remeasurement of redemption value of convertible preferred stock | (32,976) | $ 32,976 | 0 | 0 | 0 | 32,976 | 0 | (32,976) | 0 | |||||||||||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 4,471 | 0 | 4,471 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Net loss | (16,969) | 0 | 0 | (16,969) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 27 | 0 | 0 | 27 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to and accretion of redeemable noncontrolling interest | (27) | 0 | 0 | (27) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 217 | $ 0 | 0 | 0 | 217 | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from the issuance of common stock, net of issuance costs (in shares) | [1] | 11,979,055 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the issuance of common stock, net of issuance costs | 56,261 | $ 1 | 56,260 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Settlement of restricted stock issued in exchange for non-recourse promissory note (in shares) | [1] | 2,607,432 | ||||||||||||||||||||||||||||||||||||||||||||||
Settlement of restricted stock issued in exchange for non-recourse promissory note | 4,640 | $ 1 | 4,639 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Issuance of common shares in exchange for issuance cost (in shares) | [1] | 391,115 | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common shares in exchange for issuance cost | 2,407 | $ 0 | 2,407 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock (in shares) | [1] | (9,090,752) | ||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock | $ (32,242) | 0 | 0 | 0 | (32,242) | |||||||||||||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock | (1,470) | $ 0 | 0 | (1,470) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 0 | 0 | 0 | 3,034 | 3,034 | |||||||||||||||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interest | $ 0 | 0 | 0 | 27 | 27 | |||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2020 | 42,001,000 | 42,000,592 | [1] | |||||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2020 | 213,014 | $ 183,390 | 25,074 | 1,489 | 3,061 | 213,014 | ||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | [1] | 100,068,469 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | (192,827) | $ 12 | 105,159 | $ 0 | (299,789) | 1,791 | ||||||||||||||||||||||||||||||||||||||||||
Reclassification of share-based awards to mezzanine equity | (206) | 0 | 0 | 206 | 0 | 206 | 0 | (206) | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Reclassification of common shares to mezzanine equity | 0 | 6,872 | 0 | 0 | 6,872 | |||||||||||||||||||||||||||||||||||||||||||
Remeasurement of redemption value of common shares | $ (7,361) | 0 | 7,361 | 0 | 0 | 7,361 | $ 0 | 0 | 0 | (7,361) | 0 | |||||||||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | 5,141,331 | 5,141,331 | [1] | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of options | $ 8,242 | $ 0 | 8,242 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon vesting of restricted stock units (in shares) | [1] | 170,852 | ||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 46,475 | $ 0 | 46,475 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Remeasurement of redemption value of convertible preferred stock | (32,928) | 32,928 | 0 | 0 | 0 | 32,928 | 0 | 0 | 0 | (32,928) | 0 | |||||||||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 515 | $ 0 | 0 | 0 | 238 | 238 | $ 0 | 515 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Conversion of convertible preferred stock (in shares) | [1] | (42,000,592) | ||||||||||||||||||||||||||||||||||||||||||||||
Conversion of convertible preferred stock | $ (216,318) | 0 | 0 | 0 | (216,318) | |||||||||||||||||||||||||||||||||||||||||||
Conversion of convertible preferred stock (in shares) | [1] | 28,500,592 | ||||||||||||||||||||||||||||||||||||||||||||||
Conversion of convertible preferred stock | 85,393 | $ 3 | 85,390 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Reclassification of temporary equity to permanent equity | $ 39,307 | $ 41,152 | $ 0 | $ 0 | $ (39,307) | $ 0 | $ 0 | $ (1,695) | $ 0 | $ 0 | $ (39,307) | $ (1,695) | $ 0 | $ 0 | $ 39,307 | $ 41,152 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||||||||||||||||||||
Merger and recapitalization, net of transaction costs (in shares) | [1] | 47,940,523 | ||||||||||||||||||||||||||||||||||||||||||||||
Merger and recapitalization, net of transaction costs | 299,739 | $ 3 | 299,736 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Reclassification of earn-out RSUs to earn-out shares | (714) | 0 | (714) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Reclassification of Apex shares purchased prior to the Business Combination | (1,739) | 0 | 0 | (1,739) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Net loss | (33,245) | 0 | 0 | 0 | (33,245) | 0 | ||||||||||||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 1,974 | 0 | 0 | 0 | 1,974 | 1,974 | 0 | 0 | 0 | 1,974 | 0 | |||||||||||||||||||||||||||||||||||||
Net loss attributable to and accretion of redeemable noncontrolling interest | (1,974) | 0 | 0 | 0 | (1,974) | (1,974) | 0 | 0 | 0 | (1,974) | 0 | |||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | $ 0 | 0 | 0 | (63) | (63) | |||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 526 | $ 0 | 0 | 0 | 0 | 526 | ||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2021 | [1] | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2021 | 5,210 | $ 0 | $ 0 | $ 0 | $ 5,210 | $ 5,210 | ||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2021 | [1] | 181,821,767 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | $ 250,355 | $ 18 | $ 625,056 | $ (1,739) | $ (375,297) | $ 2,317 | ||||||||||||||||||||||||||||||||||||||||||
[1] | As part of the Business Combination (as disclosed in "Note 3 — Business Combination"), all per share information has been retroactively adjusted using an exchange ratio of 8.69144 per share. |
Consolidated Statements of Me_2
Consolidated Statements of Mezzanine Equity and Stockholders' Deficiency (Parentheticals) | Jul. 01, 2021 |
Business Combination, Share Exchange Ratio | 8.69144 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating activities | |||
Net loss | $ (33,245) | $ (16,969) | $ (20,174) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation, Depletion and Amortization, Total | 1,238 | 1,059 | 1,049 |
Foreign currency remeasurement loss (gain) | 1,308 | (378) | 362 |
Provision for doubtful accounts | (740) | 690 | 296 |
Stock-based compensation | 59,508 | 33,767 | 13,893 |
Loss (gain) on disposal of property and equipment | (15) | 80 | 7 |
Deferred income taxes | (175) | (433) | (1,610) |
Change in value of earn-out and warrant liabilities | (21,233) | 0 | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable and long-term unbilled receivables | (9,012) | (8,946) | (13,150) |
Prepaid expenses and other current assets | (5,914) | 1,204 | 156 |
Deferred contract costs and other assets | (8,121) | (3,236) | (5,023) |
Accounts payable, accrued expenses and other liabilities | 10,626 | 971 | 7,778 |
Deferred revenue | 10,805 | 11,311 | 14,365 |
Net cash provided by (used in) operating activities | 5,030 | 19,120 | (2,051) |
Investing activities | |||
Maturity (purchase) of short-term investments | (916) | 2,391 | (398) |
Purchase of property and equipment | (2,461) | (1,023) | (1,083) |
Net cash provided by (used in) investing activities | (3,377) | 1,368 | (1,481) |
Financing activities | |||
Proceeds from recapitalization of Apex shares | 491,563 | 0 | 0 |
Redemption of redeemable convertible preferred stock | (130,925) | (33,712) | (179,000) |
Redemption of Legacy AvePoint common stock | (106,169) | 0 | 0 |
Purchase of treasury stock | (1,628) | 0 | 0 |
Payment of net cash settlement for management options | (7,530) | 0 | 0 |
Proceeds from stock option exercises | 5,566 | 612 | 88 |
Proceeds from sale of common shares of subsidiary | 753 | 7,505 | 0 |
Repayments of capital leases | (25) | (49) | (82) |
Payments of debt issuance costs | 0 | (300) | 0 |
Proceeds from issuance of Common stock, net of issuance costs | 0 | 58,770 | 33,670 |
Collection of promissory note | 0 | 284 | 0 |
Collection of non-recourse promissory note | 0 | 4,639 | 0 |
Proceeds from issuance of Series C convertible preferred stock | 0 | 0 | 150,000 |
Payments of transaction fees by Legacy AvePoint | (2,998) | (2,089) | 0 |
Payments of transaction fees | (49,990) | (101) | (4,770) |
Net cash provided by (used in) financing activities | 198,617 | 35,559 | (94) |
Effect of exchange rates on cash | (1,165) | 903 | (590) |
Net increase (decrease) in cash and cash equivalents | 199,105 | 56,950 | (4,216) |
Cash and cash equivalents at beginning of period | 69,112 | 12,162 | 16,378 |
Cash and cash equivalents at end of period | 268,217 | 69,112 | 12,162 |
Supplemental disclosures of cash flow information | |||
Interest | 13 | 0 | 0 |
Income taxes | 4,037 | 1,068 | 247 |
Non-cash investing and financing activities | |||
Issuance of common shares in exchange for issuance cost | 0 | 2,408 | 0 |
Property and equipment acquired under capital leases | $ 0 | $ 29 | $ 57 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Organization | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Apex Technology Acquisition Corporation (" Apex April 5, 2019. one Legacy AvePoint July 24, 2001, 2006, June 2021. On November 23, 2020, July 1, 2021, 1, first 2, 2 July 26, 2021, AvePoint we us our Business 2021 Note 3 We are a leading provider of enterprise collaboration and productivity software solutions. We develop, market, and sell our suite of software solutions and services, primarily in North America, Europe, Australia, and Asia. We provide our customers with high-performance infrastructure management, compliance, data governance, mobility and productivity, online services and software solutions consulting. We do this through our Confidence Platform, a SaaS platform that assists organizations who use M365 one Our principal headquarters are located in Jersey City, New Jersey, with our operating headquarters in Richmond, Virginia and additional offices in North America, Europe, Asia, Australia and the Middle East. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the consolidated accounts of AvePoint, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Comparative Data Certain amounts from prior periods which have been presented separately have been grouped to conform to the current period presentation, including: • The reclassification of prepaid rent to be included in prepaid expenses and other current assets on the consolidated balance sheets as of December 31, 2020; • The reclassification of accrued rent obligation to be included in accounts payable, accrued expenses and other liabilities on the consolidated statements of cash flows for the years ended December 31, 2020 2019; • The reclassification of equity issuance costs to be offset from proceeds from issuance of common stock on the consolidated statements of mezzanine equity and stockholders' equity (deficiency) for the year ended December 31, 2020; • The reclassification of equity issuance costs to be offset from proceeds from issuance of Series C preferred stock on the consolidated statements of mezzanine equity and stockholders' equity (deficiency) for the year ended December 31, 2019; • The reclassification of remeasurement of redemption value of Series B preferred stock to be offset from remeasurement of redemption value of Series C preferred stock and both included in the remeasurement of redemption value of convertible preferred stock on the consolidated statements of mezzanine equity and stockholders’ equity (deficiency) for the years ended December 31, 2020 2019; • The reclassification of current portion of capital lease and deferred rent into others on the Note 7 December 31, 2020. Business Combination The Business Combination was accounted for as a reverse recapitalization as Legacy AvePoint was determined to be the accounting acquirer under Financial Accounting Standards Board’s Accounting Standards Codification Topic 805, 8.69144. 8.6914. "Note 3 Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. We base our estimates and assumptions on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amounts of assets and liabilities reported in our consolidated balance sheets and the amounts of revenue and expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not may 19. Foreign Currency We have foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, Foreign Currency Matters December 31, 2021 2020 2019 Cash and Cash Equivalents We maintain cash with several high credit-quality financial institutions. We consider all investments available with original maturities of three not not December 31, 2021 December 31, 2020 Short-Term Investments Short-term investments consist mainly certificate of deposits held by financial institutions which have an initial maturity of greater than three one Allowance for Doubtful Accounts The Company evaluates the collectability of its accounts receivable based on a combination of factors. Where we are aware of circumstances that may Property and Equipment Property and equipment are stated at cost and depreciated on a straight-line basis over the shorter of their estimated useful lives or related contract terms beginning in the year the asset was placed into service. Years Computer equipment and software 3.0 Leasehold improvements 5.0 - 11.0 Furniture and fixture 7.0 Office equipment 5.0 Buildings 39.5 Normal repair and maintenance costs are expensed as incurred. We write off depreciated assets that are no Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the improvements and such amortization is included in depreciation and amortization expense. We evaluate long-lived assets, which include leasehold improvements and equipment subject to amortization, for impairment whenever events or changes in business circumstances indicate that the carrying value of an asset may not There were no impairment charges recognized during the years ended years ended December 31, 2021 2020 2019 We evaluate the portion of depreciation and amortization expense attributable to cost of revenue based on organizational headcount directly attributable to the generation of revenue. Based on this evaluation, we have determined that depreciation and amortization attributable to cost of revenue is not Deferred Contract Costs We defer sales commissions earned by its sales force that are considered to be incremental and recoverable costs of obtaining SaaS, term license and support, service, perpetual license and maintenance contracts. We have structured commissions plans such that the commission rate paid on renewal contracts are less than those paid on the initial contract; therefore, it is determined that the renewal commissions are not Amortization of deferred contract costs of $9.5 million, $10.5 million and $7.7 million for the years ended December 31, 2021 2020 2019 December 31, 2021 December 31, 2020 Software Development Costs Costs incurred in the development of new software products and enhancements to existing software products to be accounted for under software revenue recognition guidance are accounted for in accordance with ASC 985 20, 985 20. 985 20. 985 20. 2002. 985 20 December 31, 2021 December 31, 2020. We account for costs to develop or obtain internal-use software and implementation costs incurred in hosting arrangements in accordance with ASC 350 40, 350 40. 350 40. three not Revenue Recognition We derive revenue from four The following table presents our revenue by source: For the Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: SaaS $ 85,580 $ 52,074 $ 27,744 Term license and support 50,970 38,949 26,985 Services 31,919 34,140 26,662 Maintenance 21,022 23,462 29,122 Perpetual license 2,418 2,908 5,586 Total revenue $ 191,909 $ 151,533 $ 116,099 Term license and perpetual license revenue recognized at point in time was $39.7 million, $32.4 million and $26.3 million for the years ended December 31, 2021, 2020, 2019, Our sources of revenue mainly include: • SaaS and term license and support revenue includes revenue from sale of SaaS and term license and support, versions of our software and related customer support. SaaS revenue is recognized ratably over the term of the of the contract. Term License revenue includes distinct on-premises license and support performance obligations. The license is generally recognized upfront at the point in time when the software is made available to the customer to download and use, and the support is recognized ratably over the term of the of the contract. • Perpetual license revenue is recognized up front upon delivery of the licensed product and/or the utility that enables the customer to access authorization keys, provided that an enforceable contract has been received. Typically, our perpetual licenses are sold with post-contract support (PCS), which includes unspecified technical enhancements and customer support. Revenue from PCS is classified as maintenance revenue and is recognized ratably over the term of the contract, which is typically one • Services revenue includes revenue derived primarily from the implementation of software, training, consulting, and migrations. We also offer license customization and managed services. Services revenue from implementation, training, consulting, migration, and license customization is recognized by applying a measure of progress, such as labor hours to determine the percentage of completion of each contract. Services revenue from managed services is recognized ratably on a straight line basis over the contract term. ASC 606 606, • identification of the contract, or contracts, with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the contractual performance obligations are satisfied. The timing of revenue recognition may 30 Total deferred revenue as of December 31, 2020 December 31, 2021 The opening and closing balances of the Company’s accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred receivable, Deferred contract net (1) revenue costs (in thousands) Opening (January 1, 2020) $ 43,619 $ 60,600 $ 28,351 Closing (December 31, 2020) 53,749 74,688 31,943 Increase/(decrease) 10,130 14,088 3,592 Opening (January 1, 2021) $ 53,749 $ 74,688 $ 31,943 Closing (December 31, 2021) 61,335 82,332 38,926 Increase/(decrease) 7,586 7,644 6,983 ( 1 Our revenue arrangements generally include standard warranty or service level provisions that its arrangements will perform and operate in all material respects as defined in the respective agreements, the financial impacts of which have historically been and are expected to continue to be insignificant. Our arrangements generally do not Many of our contracts include multiple performance obligations. Judgment is required in determining whether each performance obligation is distinct. Our products and services generally do not not SSP We use judgment in determining the SSP for products and services. For substantially all performance obligations except term licenses, we are able to establish the SSP based on the observable prices of products or services sold separately in comparable circumstances to similar customers. We typically establish an SSP range for our products and services which is reassessed on a periodic basis or when facts and circumstances change. Term license are sold only as a bundled arrangement that includes the rights to a term license and support. In determining the SSP of license and support in a term license arrangement we applied observable inputs using the value relationship between support and term license, the value relationship between support and perpetual licenses, the average economic life of our products, software renewals rates and the price of the bundled arrangement in relation to the perpetual licensing approach. Using a combination of the relative fair value method or the residual value method the SSP of the performance obligations in an arrangement was allocated to each performance obligation within a sales arrangement. As of December 31, 2021 , transaction price allocated to remaining performance obligations, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods, was million, of which million is related to SaaS and term license and support revenue. We expect to recognize approximately of the total transaction price allocated to remaining performance obligations over the next twelve We utilize indirect sales channels which utilize Channel Partners. These deals are executed in one two 1. Channel Partner as Customer In the first first 2. End User as Customer In the second second second second Stock-Based Compensation Stock-based compensation represents the cost related to stock-based awards granted to employees. To date, we have issued both stock options and restricted stock units (" RSUs We estimate the fair value of stock options using a Black-Scholes valuation model. The Black-Scholes model requires highly subjective assumptions in order to derive the inputs necessary to the calculate the fair value of stock options. To estimate the expected term of stock options, the Company considered contractual terms of the options, including the vesting and expiration periods, as well as historical option exercise data and current market conditions to determine an estimated expected term. The Company’s historical experience is too limited to be able to reasonably estimate expected term. Expected volatility is based on historical volatility of a group of peer entities. Dividend yields are based upon historical dividend yields. Risk-free interest rates are based on the implied yields currently available on U.S. Treasury zero Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to difference between financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. We recognize liabilities for uncertain tax positions taken or expected to be taken in income tax returns. Accrued interest and penalties related to unrecognized tax benefits are recognized as part of the provision for income taxes. Judgment is required in determining the provision for income taxes, deferred tax assets and liabilities and unrecognize tax benefits. In determining the need for a valuation allowance, the historical and projected financial performance of the operation that is recording a net deferred tax asset is considered along with any other pertinent information. We file income tax returns in the U.S. federal, various states and foreign jurisdictions. The tax years 2017 2020 2011 2020 Redeemable Noncontrolling Interest At December 31, 2021 2020, AEPL EduTech December 24, 2022 December 24, 2023 Emerging Growth Company We are considered an emerging growth company. Section 102 1 not not not Recent Accounting Pronouncements In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 December 15, 2023. 2020 06 In December 2019, 2019 12, 740 2019 12 740. December 15, 2021. not not 2019 12 In February 2016, 2016 02, 842 2017 13, 2018 10, 2018 11, 2018 20, 2019 01, 2019 10, 2020 02, 2020 05 2021 05 842 842 842 December 15, 2021. 842 In January 2016, 2016 13, not 2020 02 December 15, 2022. While we generally expect the financial records to be impacted by the requirements highlighted above, we cannot reasonably estimate the impact that adoption of the ASUs referenced in this announcement is expected to have on the financial statements at this time. |
Note 3 - Business Combination
Note 3 - Business Combination | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. On November 23, 2020, July 1, 2021 Merger Sub 1 First Merger 2, Merger Sub 2 Second Merger 2 Surviving Entity Mergers AvePoint Company we us our July 26, 2021, The following transactions occurred in connection with the Business Combination which impacted our mezzanine equity and permanent equity accounts: ● Shares of Legacy AvePoint common stock were cancelled and converted into 103,831,523 shares of our Common Stock, par value $0.0001 per share. ● $106.2 million was paid to holders of Legacy AvePoint common stock in exchange for 10,602,105 shares of Common Stock (as converted). ● Shares of Apex Class A common stock were cancelled and converted into 34,982,628 shares of our Common Stock. ● Shares of Apex Class B common stock were cancelled and converted into 9,560,000 shares of our Common Stock. ● Apex entered into subscription agreements with certain investors, whereby 14,000,000 shares of our Common Stock at $10.00 per share (“ PIPE Shares ● A portion of Legacy AvePoint preferred stock was cancelled and converted into 28,500,592 shares of our Common Stock. The remaining preferred stock was redeemed for $130.9 million. ● Options to purchase Legacy AvePoint common stock (other than certain options held by certain executives and options issued to certain employees in the People's Republic of China) were cancelled and converted into an option to purchase our Common Stock with the same terms and conditions (including vesting and exercisability terms) applicable to the corresponding former Legacy AvePoint options. ● Options to purchase Legacy AvePoint common stock issued to employees in the People's Republic of China were cancelled and converted into an option to purchase our Common Stock with the same terms and conditions with the exception of fully vested options which will incur an additional month of vesting following the Business Combination to comply with local regulations. ● Legacy AvePoint Officer Awards, as defined in "Note 13 "Note 13 ● Put options on Legacy AvePoint Modified Options and Modified Common Stock, as defined in "Note 13 "Note 13 ● We entered into earn-out agreements to issue additional shares if certain share price milestones are achieved. Refer to "Note 11 ● We assumed public and private placement warrants from Apex. Refer to "Note 11 As of the Closing Date and following the completion of the Business Combination, we are authorized to issue up to 1,000,000,000 shares of Common Stock at a par value of $0.0001 per share and up to 20,000,000 shares of preferred stock, the rights, preferences and privileges of which may As of the Closing Date and following the completion of the Business Combination, we had the following outstanding securities: ● 180,272,638 shares of Common Stock; and ● 17,905,000 warrants, each exercisable for one Warrants As a result of the Business Combination, we received net cash consideration of $204.5 million. Legacy AvePoint and Apex incurred costs that are considered direct and incremental costs associated with the transaction. These costs amounted to $56.2 million and were treated as a reduction of additional paid-in capital. Cash flows provided to or paid by Legacy AvePoint or Apex in connection with the Business Combination are included in our consolidated statements of cash flows as financing activities. Our purchase of shares of Apex common stock prior to the Business Combination is included in our consolidated statements of cash flows as a financing cash outflow. The shares purchased are recorded as treasury stock. |
Note 4 - Concentration of Credi
Note 4 - Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 4. The Company deposits its cash with financial institutions and, at times, such balances may 10% December 31, 2021 2020 2019, 10% December 31, 2021 2020. |
Note 5 - Accounts Receivable, N
Note 5 - Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. Accounts receivable, net, consists of the following components: December 31, December 31, 2021 2020 (in thousands) Trade receivables $ 38,819 $ 33,521 Current unbilled receivables 17,086 16,496 Allowance for doubtful accounts (838 ) (1,767 ) $ 55,067 $ 48,250 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property and equipment, net, consists of the following: December 31, December 31, 2021 2020 (in thousands) Computer equipment $ 5,777 $ 4,030 Leasehold improvements 2,769 2,633 Furniture and fixtures 1,102 887 Building 786 766 Office equipment 394 384 Software 378 245 11,206 8,945 Less accumulated depreciation and amortization (7,284 ) (6,282 ) $ 3,922 $ 2,663 Accumulated depreciation and amortization includes the amortization expense relating to assets acquired under capital leases. Depreciation and amortization expense was $1.2 million, $1.1 million and $1.0 million for the years ended December 31, 2021 2020 2019, |
Note 7 - Accrued Expenses and O
Note 7 - Accrued Expenses and Other Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 7. Accrued expenses and other liabilities consists of the following components: December 31, December 31, 2021 2020 (in thousands) Accrued compensation $ 22,740 $ 16,738 Indirect taxes 3,945 2,571 Cloud service fees 1,314 994 Professional service fees 1,033 500 Accrued partner expenses 903 1,253 Income taxes payable 1,197 1,713 Other 3,930 2,476 $ 35,062 $ 26,245 |
Note 8 - Line of Credit
Note 8 - Line of Credit | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8. On April 7 2020, Loan Agreement HSBC On July 1, 2021, first First Amendment First Amended Loan Agreement First Assignment and Assumption Agreement Pledge Agreement Limited Guaranty Pledged Equity On July 26, 2021, Rollup Merger July 23, 2021, second Second Assignment and Assumption Agreement Assumption Guarantors July 23, 2021 ( Limited Consent On October 31, 2021, Second Amendment Second Amended Loan Agreement The Second Amended Loan Agreement’s substantive economic terms were not may We, on a consolidated basis with our subsidiaries, are required to maintain a specified adjusted quick ratio, tested by HSBC each quarter. Pursuant to the Second Amended Loan Agreement, we pledged, assigned, and granted HSBC a security interest in all shares of our subsidiaries, future proceeds, and certain assets as security for our obligations under the Second Amended Loan Agreement. Our line of credit under the Second Amended Loan Agreement will mature on April 7, 2023. To date, we are in compliance with all covenants under the Second Amended Loan Agreement. We have not December 31, 2021, Under the Loan Agreement, the Company is required to maintain a specified adjusted quick ratio and a minimum annual recurring revenue tested by the Bank each quarter. The Company pledged, assigned and granted the Bank a security interest in all shares, future proceeds and assets (except for excluded assets, including material intellectual property) as a security for the performance of the loan and security agreement obligations. As of December 31, 2021 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. Pretax loss resulting from domestic and foreign operations is as follows: Year Ended December 31, 2021 2020 2019 (in thousands) Domestic $ (23,583 ) $ (19,107 ) $ (13,320 ) Foreign (9,205 ) 3,200 (6,240 ) Pretax loss from continuing operations $ (32,788 ) $ (15,907 ) $ (19,560 ) The components of the provision (benefit) for income taxes consists of the following: Year Ended December 31, 2021 2020 2019 (in thousands) Current income tax expense: Federal $ 467 $ — $ — State and local (881 ) 411 80 Foreign 1,117 1,096 1,813 Total current income tax expense 703 1,507 1,893 Deferred income tax expense (benefit): Federal 89 (175 ) — State and local (12 ) (843 ) — Foreign (323 ) 573 (1,279 ) Total deferred income tax expense (benefit) (246 ) (445 ) (1,279 ) Total income tax expense $ 457 $ 1,062 $ 614 The reconciliation of the amounts at the U.S. federal statutory income tax rate to the company’s effective income tax rate is as follows: Year Ended December 31, 2021 2020 2019 (in thousands) U.S. federal statutory tax rate $ (6,886 ) $ (3,340 ) $ (4,108 ) State and local income taxes, net (962 ) (519 ) 80 Stock-based compensation 10,865 6,770 2,748 Fair Value of Earnout Liability (3,946 ) — — Transaction Costs (2,209 ) — — Change in valuation allowance 3,085 (3,216 ) 1,516 Foreign operations 440 1,575 (375 ) Return-to-Provision Adjustments (196 ) (538 ) 497 Permanent differences 334 65 157 Other, net (68 ) 265 99 Total $ 457 $ 1,062 $ 614 The Company’s effective tax rate differed from the U.S. federal statutory rate primarily due to mix of pre-tax income (loss) results by jurisdictions taxed at different rates than 21%, stock-based compensation, transaction costs, Section 162 Deferred income taxes are provided for the tax effect of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. Significant components of the Company’s deferred tax assets and (liabilities) are as follows: December 31, December 31, 2021 2020 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 10,716 $ 6,814 Deferred Revenue 5,315 4,886 Compensation and benefits 4,384 1,792 Foreign tax credits 720 720 Fair Value of Earn-out Liability 181 — Other 1,047 1,066 Total deferred tax assets 22,363 15,278 Deferred tax liabilities: Property and equipment (132 ) (140 ) Amortization (214 ) — Commissions (7,918 ) (5,285 ) Prepaid Subscription (822 ) (580 ) Unbilled Receivable (2,183 ) (1,632 ) Total deferred tax liability (11,269 ) (7,637 ) Total Net Deferred Tax Assets 11,094 7,641 Valuation allowance (8,356 ) (5,530 ) Net deferred tax asset $ 2,738 $ 2,111 As of December 31, 2021, may 2031. 2031 6 2022 2023. Under the provisions of the Internal Revenue Code, the U.S. NOL carryforwards are subject to review and possible adjustment by the Internal Revenue Service and state tax authorities. NOL and tax credit carryforwards may 50% three 50%, 382 383 may December 31, 2021, not 382. ASC 740 10 30 5 not not December 31, 2021 December 31, 2020, not not December 31, 2021, December 31, 2020 December 31, 2021, not The Tax Cuts and Jobs Act of 2017 Act GILTI December 31, 2021, not not A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties is as follows: December 31, December 31, 2021 2020 (in thousands) Beginning balance $ 5,369 $ 5,230 Additions based on tax positions related to the current year — — Additions for tax positions of prior years — 139 Reduction for tax positions of prior years (4,281 ) — Reduction for settlements — — Expiration of applicable statute of limitations — — Ending balance $ 1,088 $ 5,369 The Company recognizes accrued interest and penalties related to unrecognized tax benefits as part of the provision for income taxes. As of December 31, 2021, December 31, 2020, December 31, 2021 December 31, 2020, not As of December 31, 2021, The Company files income tax returns in the U.S. federal jurisdiction, various state and foreign jurisdictions. The tax years 2017 2020 2011 2020 December 31, 2021 December 31, 2020 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | 10. Operating Leases The Company is obligated under various non-cancelable operating leases for office space. The initial terms of the leases expire on various dates through 2030. During the years ended December 31, 2021 2020 2019, December 31, 2021 The future minimum rental payments for all long-term non-cancelable property leases are as follows: Year Ending December 31: (in thousands) 2022 $ 5,680 2023 3,808 2024 2,428 2025 1,840 2026 1,438 Thereafter 2,960 $ 18,154 Purchase Commitments The Company has outstanding unconditional purchase commitments to procure licenses to use IT software from suppliers. These agreements are negotiated in consideration of the volume of transactions with select suppliers and the associated required transaction volumes are expected to be met through the normal course of business. In June 2017, June 2017 June 2020. No 2018. December 31, 2019 December 31, 2020 In April 2019, 365 three 2019, 2020, 2021. May 2020, three three May 2023. 2021 2022 2023. December 31, 2019, 2019 December 31, 2020, 2019 2020 December 31, 2021 2019 2020 The Company is obligated to make the following future minimum payments under the non-cancelable terms of these contracts as of December 31, 2021 Years ending December 31, (in thousands) 2022 $ 6,813 2023 — 2024 — 2025 — 2026 — Thereafter — $ 6,813 Legal Proceedings In the normal course of its business, the Company may December 31, 2021, not Guarantees In the normal course of business, we are seldomly required to enter into service agreements that require contingency agreements with customers in highly regulated sectors. These agreements are secured by certificates of deposits. As of December 31, 2021, not |
Note 11 - Company Earn-Out and
Note 11 - Company Earn-Out and Warrant Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earn-Out and Warrant Liabilities [Text Block] | 11. Company Earn-Out As a result of the Business Combination, the holders of Legacy AvePoint Preferred Stock, Legacy AvePoint common stock and Legacy AvePoint Options shall be issued additional shares of AvePoint's Common Stock, as follows: • 1,000,000 shares of AvePoint's Common Stock, in the aggregate, if at any time from and after the Business Combination through the seventh $12.50 20 30 $12.50 • 1,000,000 shares of AvePoint's Common Stock, in the aggregate, if at any time from and after the Business Combination through the seventh $15.00 20 30 $15.00 • 1,000,000 shares of AvePoint's Common Stock, in the aggregate, if at any time from and after the Business Combination through the seventh $17.50 20 30 $17.50 The rights described above are hereafter referred to as the "Company Earn-Out Shares". To the extent that any portion of the Company Earn-Out Shares that would otherwise be issued to a holder of options that remain unvested at the date of the milestones described above, then in lieu of issuing the applicable Company Earn-Out Shares, the Company shall instead issue an award of restricted stock units of the Company for a number of shares of AvePoint's Common Stock equal to such portion of the Company Earn-Out Shares issuable with respect to the unvested options (the “Company Earn-Out RSUs”). In evaluation of the Company Earn-Out Shares and Company Earn-Out RSUs, management determined that the Company Earn-Out Shares represent derivatives to be marked to market at each reporting period, while the Company Earn-Out RSUs represent equity under ASC 718. "Note 13 In order to capture the market conditions associated with the Company Earn-Out Shares, the Company applied an approach that incorporated a Monte Carlo simulation, which involved random iterations that took different future price paths over the Sponsor Earn-Out Shares’ contractual life based on the appropriate probability distributions. The fair value was determined by taking the average of the fair values under each Monte Carlo simulation trial. The Monte Carlo model requires highly subjective assumptions including the expected volatility of the price of our common stock, and the expected term of the earn-out shares. Significant increases or decreases to these inputs in isolation could result in a significantly higher or lower liability. Under this approach, the fair value of the Company Earn-Out Shares on July 1, 2021 December 31, 2021 July 1, December 31, 2021 2021 Term (in years) 7.00 6.50 Volatility 40.00 % 40.00 % Warrants to Acquire Common Stock On July 1, 2021, The private placement warrants are held by only two . July 1, 2021 December 31, 2021 |
Note 12 - Mezzanine Equity and
Note 12 - Mezzanine Equity and Stockholders' Equity (Deficiency) | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 12. Equity (Deficiency) Prior to the Business Combination, the Company had two one Common Stock Pursuant to the Company's restated Articles of Incorporation, the Company is authorized to issue up to 1,000,000,000 shares of common stock at $0.0001 par value. There were 181,821,767 and 100,068,469 shares issued and outstanding at December 31, 2021 December 31, 2020 one not On July 1, 2021, 8.6914. Sponsor Earn-Out Shares On July 1, 2021, Sponsor Earn-Out Shares • 100% seventh $15.00 20 30 • 100% not seventh The Sponsor Earn-Out Shares are currently outstanding and receive all benefits of regular shares with the exception of the fact that the shares are held in escrow and restricted from transfer until the vesting conditions described above are met. Consequently, the shares are classified as equity. No Sponsor Earn-Out Shares have vested as of December 31, 2021 Public Warrants to Acquire Common Stock On July 1, 2021, one fifth July 1, 2021 December 31, 2021 Convertible Contingently Redeemable Preferred Stock On July 1, 2021, "Note 3 December 31, 2021 December 31, 2020 Series C Preferred Stock Preferred Stock December 31, 2021 December 31, 2020 December 31, 2020 December 31, 2021 may December 31, 2021 No dividends were declared related to the Preferred Stock in the years ended December 31, 2021 2020 Redeemable Noncontrolling Interest On December 24, 2020, AEPL December 31, 2020 February 11, 2021, December 24, 2022 December 24, 2023 Redeemable noncontrolling interest (in thousands) Beginning balance (December 31, 2020) $ 3,061 Issuance of redeemable noncontrolling interest in EduTech 238 Net income (loss) attributable to redeemable noncontrolling interest (847 ) Other comprehensive income (loss) attributable to redeemable noncontrolling interest (63 ) Adjustment to present redemption value as of December 31, 2021 2,821 Ending balance (December 31, 2021) $ 5,210 |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 13. The Company maintains an equity incentive plan established in 2006, 2006 2006 2006 may January 1, 2016, 2016 2016 2006 not 2006 2016 no 2006 May 27, 2021, 2021 2021 June 30, 2021. 2021 no 2016 2006 December 31, 2021 2006 2016 2006 2016 The Company records stock-based compensation in cost of revenue, sales and marketing, general and administrative and research and development. Stock-based compensation was included in the following line items: Year Ended December 31, 2021 2020 2019 (in thousands) Cost of revenue $ 3,477 $ 592 $ 415 Sales and marketing 15,906 19,973 8,166 General and administrative 24,063 12,916 5,034 Research and development 16,062 286 278 Total stock-based compensation $ 59,508 $ 33,767 $ 13,893 Stock Options The compensation costs for stock option awards are accounted for in accordance with ASC 718, Compensation-Stock Compensation four tenth Officer Awards not July 1, 2022 718; no July 1, 2021 The Company’s stock option awards granted to certain international employees (the "Legacy International options") contained a performance condition that stated that the awards are only exercisable if the Company’s common shares are publicly traded. When the exercise contingency was resolved upon completion of the Business Combination, the Legacy International Options were cancelled and replaced with new awards with substantially the same terms and conditions (the " International Options no not July 1, 2021 718 one In 2020, Time and Performance Based Options three Time-Based Options Performance-Based 1 Performance-Based II Options one 12 first 2021. January 1, 2021. On September 1, 2021, 2021 December 31, 2021, 2020 2019 July 1, September 1, 2021 2021 Expected term (in years) 2.77 6.11 Expected volatility 43.25 % 43.31 % Risk-free rate 0.37 % 0.94 % Dividend yield — — To estimate the expected term of stock options, the Company considered the vesting term, contractual expiration period, and market conditions. Expected volatility is based on historical volatility of a group of peer entities. Dividend yields are based upon historical dividend yields. Risk-free interest rates are based on the implied yields currently available on U.S. Treasury zero September 2021 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value (Aggregate Intrinsic Value figure presented in thousands) Balance, January 1, 2019 23,326,692 0.96 6.12 — Options granted 5,333,452 1.52 — — Options exercised (451,953 ) 0.19 — — Options forfeited or expired (2,501,900 ) 0.70 — — Balance, December 31, 2019 24,926,640 1.13 6.42 — Options granted 11,537,242 3.91 — — Options exercised (707,888 ) 0.77 — — Options forfeited or expired (898,926 ) 1.32 — — Balance, December 31, 2020 34,857,068 2.05 6.89 — Options granted 5,611,658 9.64 — — Options exercised (5,141,331 ) 1.08 — — Options forfeited or expired (4,847,078 ) 0.44 — — Balance, December 31, 2021 30,480,317 $ 3.87 2.83 $ 92,600 At December 31, 2021, Outstanding Exercisable Exercise Price Stock Options Weighted-Average Contractual Life Weighted-Average Exercise Price Stock Options Weighted-Average Contractual Life Weighted-Average Exercise Price $ 0.03 - $ 1.34 6,634,833 4.69 $ 1.28 6,634,833 4.69 $ 1.28 $ 1.52 - $ 1.89 6,879,874 5.84 1.59 5,195,211 5.46 1.59 $ 3.90 - $ 9.64 16,965,610 8.96 5.80 3,545,801 8.61 3.90 30,480,317 7.33 $ 3.87 15,375,845 5.85 $ 1.99 As of December 31, 2021 December 31, 2020 $18.4 At December 31, 2021 December 31, 2021 Restricted Stock Units In addition to Stock Options granted under the 2006 2016 2021 2021 September 1, 2021. 718, four tenth December 31, 2021 For the year ended December 31, 2021 2021 December 31, 2021 2021 Company Earn-Out RSUs The compensation costs for Company Earn-Out RSUs are accounted for in accordance with ASC 718, Compensation-Stock Compensation July 1, 2021 four tenth not seventh not December 31, 2021 Put and Call Options On December 26, 2019, March 25, 2025 April, 2025 ( 30 30 Mezzanine equity classification is required if stock awards that would otherwise qualify for equity classification are subject to contingent redemption features that are not December 31, 2021 December 31, 2020 2019, one The fair values of Modified Options were estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions at July 1, 2021 December 31, 2020 July 1 2021 Expected term (in years) 4.10 Expected volatility 34.44 % Risk-free rate 0.79 % Dividend yield — At December 31, 2021 December 31, 2020 December 31, 2021 2020, During 2021 2020, 2020, 2021 2020, six 2021 2020, six July 1, 2021, December 31, 2020 December 31, 2021 In connection with the Business Combination, the agreements creating the Modified Common Stock and Modified Options were terminated. As a result, the $39.3 million mezzanine balance and the $49.7 million liability balance were reclassified to permanent equity on July 1, 2021. |
Note 14 - Financial Instruments
Note 14 - Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 14. Fair value is defined by ASC 820, Fair Value Measurement 820 820 three three • Level 1 • Level 2 1 • Level 3 Year Ended December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: U.S. treasury bills $ — $ 199,999 $ — $ 199,999 Certificate of deposits — 1,433 — 1,433 Short term investments: Certificate of deposits — 2,411 — 2,411 Other assets: Certificate of deposits — 285 — 285 Total $ — $ 204,128 $ — $ 204,128 Liabilities Earn-out liabilities (1) $ — $ — $ 10,012 $ 10,012 Warrant liabilities (1) — 458 — 458 Total $ — $ 458 $ 10,012 $ 10,470 Year Ended December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificate of deposits $ — $ 919 $ — $ 919 Short term investments: Certificate of deposits — 992 — 992 Other assets: Certificate of deposits — 800 — 800 Total $ — $ 2,711 $ — $ 2,711 ( 1 July 1, 2021, 3. 1. 11 |
Note 15 - Segment Information
Note 15 - Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 15. The Company operates in one CODM not Revenue by geography are based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. No customers represented greater than 10% December 31, 2021 2020 2019. Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: United States $ 83,034 $ 67,823 $ 48,614 EMEA 58,285 42,441 33,661 APAC 50,590 41,269 33,824 Total revenue $ 191,909 $ 151,533 $ 116,099 The following table sets forth revenue generated from customers by country, based outside of the United States, and represent more than 10% Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: Germany $ 23,574 $ 17,650 $ 15,094 Japan 23,360 17,331 16,619 Singapore 16,580 15,376 10,674 Other 45,361 33,353 25,098 The following table sets forth property and equipment, net held within the United States, China and foreign countries: December 31, December 31, 2021 2020 (in thousands) Property and equipment, net: United States $ 923 $ 976 China 2,376 1,219 Other 623 468 Total property and equipment, net $ 3,922 $ 2,663 |
Note 16 - Loss Per Share
Note 16 - Loss Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 16. Basic loss per share available to the Company's common shareholders (“ EPS two Note 12 no no Year Ended December 31, 2021 2020 2019 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (33,245 ) $ (16,969 ) $ (20,174 ) Net income attributable to redeemable noncontrolling interest (1,974 ) (27 ) — Net loss attributable to AvePoint, Inc. $ (35,219 ) $ (16,996 ) $ (20,174 ) Deemed dividends on preferred stock (32,928 ) (34,446 ) (107,469 ) Total net loss available to common shareholders $ (68,147 ) $ (51,442 ) $ (127,643 ) Denominator: Weighted average common shares outstanding 141,596 89,638 74,006 Effect of dilutive securities — — — Weighted average diluted shares 141,596 89,638 74,006 Basic loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.48 ) $ (0.57 ) $ (1.72 ) Diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.48 ) $ (0.57 ) $ (1.72 ) To arrive at net loss available to common shareholders, the Company deducted net income attributable to the redeemable noncontrolling interest in EduTech and deemed dividends, which related to the redemption, extinguishment, and remeasurement of preferred stock. For the years ended December 31, 2021 2020 2019, The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities has an antidilutive impact due to losses reported: Year Ended December 31, 2021 2020 2019 (in thousands) Convertible preferred stock — 42,001 51,091 Restricted stock — — 2,607 Stock options 30,480 34,857 24,927 Restricted stock units 5,167 — — Warrants 17,905 — — Company Earn-Outs 3,000 — — Total potentially dilutive securities 56,552 76,858 78,625 |
Note 17 - Related Party Transac
Note 17 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 17. The Company has entered into indemnification agreements with its executive officers and directors. These agreements, among other things, require AvePoint to indemnify its directors and executive officers to the fullest extent permitted by Delaware law, specifically the Delaware General Corporation Law (as the same exists or may one |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 18. The following material subsequent events occurred since the date of the most recent balance sheet period reported. I-Access Solutions Pte. Ltd. Acquisition On February 18, 2022 ( Acquisition Close Date I-Access 2022 2023. $5.9 $5.9 24 The initial allocation of the purchase price is still being assessed by the Company. Significant, relevant information needed to complete the initial accounting is not not not Share Repurchase Program On March 17, 2022, Share Repurchase Program three not may Stock Based Compensation On March 21, 2022 4,159,532 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the consolidated accounts of AvePoint, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. |
Reclassification, Comparability Adjustment [Policy Text Block] | Comparative Data Certain amounts from prior periods which have been presented separately have been grouped to conform to the current period presentation, including: • The reclassification of prepaid rent to be included in prepaid expenses and other current assets on the consolidated balance sheets as of December 31, 2020; • The reclassification of accrued rent obligation to be included in accounts payable, accrued expenses and other liabilities on the consolidated statements of cash flows for the years ended December 31, 2020 2019; • The reclassification of equity issuance costs to be offset from proceeds from issuance of common stock on the consolidated statements of mezzanine equity and stockholders' equity (deficiency) for the year ended December 31, 2020; • The reclassification of equity issuance costs to be offset from proceeds from issuance of Series C preferred stock on the consolidated statements of mezzanine equity and stockholders' equity (deficiency) for the year ended December 31, 2019; • The reclassification of remeasurement of redemption value of Series B preferred stock to be offset from remeasurement of redemption value of Series C preferred stock and both included in the remeasurement of redemption value of convertible preferred stock on the consolidated statements of mezzanine equity and stockholders’ equity (deficiency) for the years ended December 31, 2020 2019; • The reclassification of current portion of capital lease and deferred rent into others on the Note 7 December 31, 2020. |
Business Combinations Policy [Policy Text Block] | Business Combination The Business Combination was accounted for as a reverse recapitalization as Legacy AvePoint was determined to be the accounting acquirer under Financial Accounting Standards Board’s Accounting Standards Codification Topic 805, 8.69144. 8.6914. "Note 3 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. We base our estimates and assumptions on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amounts of assets and liabilities reported in our consolidated balance sheets and the amounts of revenue and expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not may 19. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency We have foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, Foreign Currency Matters December 31, 2021 2020 2019 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We maintain cash with several high credit-quality financial institutions. We consider all investments available with original maturities of three not not December 31, 2021 December 31, 2020 |
Investment, Policy [Policy Text Block] | Short-Term Investments Short-term investments consist mainly certificate of deposits held by financial institutions which have an initial maturity of greater than three one |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company evaluates the collectability of its accounts receivable based on a combination of factors. Where we are aware of circumstances that may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and depreciated on a straight-line basis over the shorter of their estimated useful lives or related contract terms beginning in the year the asset was placed into service. Years Computer equipment and software 3.0 Leasehold improvements 5.0 - 11.0 Furniture and fixture 7.0 Office equipment 5.0 Buildings 39.5 Normal repair and maintenance costs are expensed as incurred. We write off depreciated assets that are no Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the improvements and such amortization is included in depreciation and amortization expense. We evaluate long-lived assets, which include leasehold improvements and equipment subject to amortization, for impairment whenever events or changes in business circumstances indicate that the carrying value of an asset may not There were no impairment charges recognized during the years ended years ended December 31, 2021 2020 2019 We evaluate the portion of depreciation and amortization expense attributable to cost of revenue based on organizational headcount directly attributable to the generation of revenue. Based on this evaluation, we have determined that depreciation and amortization attributable to cost of revenue is not |
Deferred Charges, Policy [Policy Text Block] | Deferred Contract Costs We defer sales commissions earned by its sales force that are considered to be incremental and recoverable costs of obtaining SaaS, term license and support, service, perpetual license and maintenance contracts. We have structured commissions plans such that the commission rate paid on renewal contracts are less than those paid on the initial contract; therefore, it is determined that the renewal commissions are not Amortization of deferred contract costs of $9.5 million, $10.5 million and $7.7 million for the years ended December 31, 2021 2020 2019 December 31, 2021 December 31, 2020 |
Software to be Sold, Leased, or Otherwise Marketed and Internal Use Software, Policy [Policy Text Block] | Software Development Costs Costs incurred in the development of new software products and enhancements to existing software products to be accounted for under software revenue recognition guidance are accounted for in accordance with ASC 985 20, 985 20. 985 20. 985 20. 2002. 985 20 December 31, 2021 December 31, 2020. We account for costs to develop or obtain internal-use software and implementation costs incurred in hosting arrangements in accordance with ASC 350 40, 350 40. 350 40. three not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition We derive revenue from four The following table presents our revenue by source: For the Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: SaaS $ 85,580 $ 52,074 $ 27,744 Term license and support 50,970 38,949 26,985 Services 31,919 34,140 26,662 Maintenance 21,022 23,462 29,122 Perpetual license 2,418 2,908 5,586 Total revenue $ 191,909 $ 151,533 $ 116,099 Term license and perpetual license revenue recognized at point in time was $39.7 million, $32.4 million and $26.3 million for the years ended December 31, 2021, 2020, 2019, Our sources of revenue mainly include: • SaaS and term license and support revenue includes revenue from sale of SaaS and term license and support, versions of our software and related customer support. SaaS revenue is recognized ratably over the term of the of the contract. Term License revenue includes distinct on-premises license and support performance obligations. The license is generally recognized upfront at the point in time when the software is made available to the customer to download and use, and the support is recognized ratably over the term of the of the contract. • Perpetual license revenue is recognized up front upon delivery of the licensed product and/or the utility that enables the customer to access authorization keys, provided that an enforceable contract has been received. Typically, our perpetual licenses are sold with post-contract support (PCS), which includes unspecified technical enhancements and customer support. Revenue from PCS is classified as maintenance revenue and is recognized ratably over the term of the contract, which is typically one • Services revenue includes revenue derived primarily from the implementation of software, training, consulting, and migrations. We also offer license customization and managed services. Services revenue from implementation, training, consulting, migration, and license customization is recognized by applying a measure of progress, such as labor hours to determine the percentage of completion of each contract. Services revenue from managed services is recognized ratably on a straight line basis over the contract term. ASC 606 606, • identification of the contract, or contracts, with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the contractual performance obligations are satisfied. The timing of revenue recognition may 30 Total deferred revenue as of December 31, 2020 December 31, 2021 The opening and closing balances of the Company’s accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred receivable, Deferred contract net (1) revenue costs (in thousands) Opening (January 1, 2020) $ 43,619 $ 60,600 $ 28,351 Closing (December 31, 2020) 53,749 74,688 31,943 Increase/(decrease) 10,130 14,088 3,592 Opening (January 1, 2021) $ 53,749 $ 74,688 $ 31,943 Closing (December 31, 2021) 61,335 82,332 38,926 Increase/(decrease) 7,586 7,644 6,983 ( 1 Our revenue arrangements generally include standard warranty or service level provisions that its arrangements will perform and operate in all material respects as defined in the respective agreements, the financial impacts of which have historically been and are expected to continue to be insignificant. Our arrangements generally do not Many of our contracts include multiple performance obligations. Judgment is required in determining whether each performance obligation is distinct. Our products and services generally do not not SSP We use judgment in determining the SSP for products and services. For substantially all performance obligations except term licenses, we are able to establish the SSP based on the observable prices of products or services sold separately in comparable circumstances to similar customers. We typically establish an SSP range for our products and services which is reassessed on a periodic basis or when facts and circumstances change. Term license are sold only as a bundled arrangement that includes the rights to a term license and support. In determining the SSP of license and support in a term license arrangement we applied observable inputs using the value relationship between support and term license, the value relationship between support and perpetual licenses, the average economic life of our products, software renewals rates and the price of the bundled arrangement in relation to the perpetual licensing approach. Using a combination of the relative fair value method or the residual value method the SSP of the performance obligations in an arrangement was allocated to each performance obligation within a sales arrangement. As of December 31, 2021 , transaction price allocated to remaining performance obligations, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods, was million, of which million is related to SaaS and term license and support revenue. We expect to recognize approximately of the total transaction price allocated to remaining performance obligations over the next twelve We utilize indirect sales channels which utilize Channel Partners. These deals are executed in one two 1. Channel Partner as Customer In the first first 2. End User as Customer In the second second second second |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Stock-based compensation represents the cost related to stock-based awards granted to employees. To date, we have issued both stock options and restricted stock units (" RSUs We estimate the fair value of stock options using a Black-Scholes valuation model. The Black-Scholes model requires highly subjective assumptions in order to derive the inputs necessary to the calculate the fair value of stock options. To estimate the expected term of stock options, the Company considered contractual terms of the options, including the vesting and expiration periods, as well as historical option exercise data and current market conditions to determine an estimated expected term. The Company’s historical experience is too limited to be able to reasonably estimate expected term. Expected volatility is based on historical volatility of a group of peer entities. Dividend yields are based upon historical dividend yields. Risk-free interest rates are based on the implied yields currently available on U.S. Treasury zero |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to difference between financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. We recognize liabilities for uncertain tax positions taken or expected to be taken in income tax returns. Accrued interest and penalties related to unrecognized tax benefits are recognized as part of the provision for income taxes. Judgment is required in determining the provision for income taxes, deferred tax assets and liabilities and unrecognize tax benefits. In determining the need for a valuation allowance, the historical and projected financial performance of the operation that is recording a net deferred tax asset is considered along with any other pertinent information. We file income tax returns in the U.S. federal, various states and foreign jurisdictions. The tax years 2017 2020 2011 2020 |
Redeemable Noncontrolling Interest [Policy Text Block] | Redeemable Noncontrolling Interest At December 31, 2021 2020, AEPL EduTech December 24, 2022 December 24, 2023 |
Emerging Growth Company [Policy Text Block] | Emerging Growth Company We are considered an emerging growth company. Section 102 1 not not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 December 15, 2023. 2020 06 In December 2019, 2019 12, 740 2019 12 740. December 15, 2021. not not 2019 12 In February 2016, 2016 02, 842 2017 13, 2018 10, 2018 11, 2018 20, 2019 01, 2019 10, 2020 02, 2020 05 2021 05 842 842 842 December 15, 2021. 842 In January 2016, 2016 13, not 2020 02 December 15, 2022. While we generally expect the financial records to be impacted by the requirements highlighted above, we cannot reasonably estimate the impact that adoption of the ASUs referenced in this announcement is expected to have on the financial statements at this time. |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Useful Life of Property, Plant and Equipment [Table Text Block] | Years Computer equipment and software 3.0 Leasehold improvements 5.0 - 11.0 Furniture and fixture 7.0 Office equipment 5.0 Buildings 39.5 |
Disaggregation of Revenue [Table Text Block] | For the Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: SaaS $ 85,580 $ 52,074 $ 27,744 Term license and support 50,970 38,949 26,985 Services 31,919 34,140 26,662 Maintenance 21,022 23,462 29,122 Perpetual license 2,418 2,908 5,586 Total revenue $ 191,909 $ 151,533 $ 116,099 |
Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions [Table Text Block] | Accounts Deferred receivable, Deferred contract net (1) revenue costs (in thousands) Opening (January 1, 2020) $ 43,619 $ 60,600 $ 28,351 Closing (December 31, 2020) 53,749 74,688 31,943 Increase/(decrease) 10,130 14,088 3,592 Opening (January 1, 2021) $ 53,749 $ 74,688 $ 31,943 Closing (December 31, 2021) 61,335 82,332 38,926 Increase/(decrease) 7,586 7,644 6,983 |
Note 5 - Accounts Receivable,_2
Note 5 - Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, December 31, 2021 2020 (in thousands) Trade receivables $ 38,819 $ 33,521 Current unbilled receivables 17,086 16,496 Allowance for doubtful accounts (838 ) (1,767 ) $ 55,067 $ 48,250 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, 2021 2020 (in thousands) Computer equipment $ 5,777 $ 4,030 Leasehold improvements 2,769 2,633 Furniture and fixtures 1,102 887 Building 786 766 Office equipment 394 384 Software 378 245 11,206 8,945 Less accumulated depreciation and amortization (7,284 ) (6,282 ) $ 3,922 $ 2,663 |
Note 7 - Accrued Expenses and_2
Note 7 - Accrued Expenses and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, December 31, 2021 2020 (in thousands) Accrued compensation $ 22,740 $ 16,738 Indirect taxes 3,945 2,571 Cloud service fees 1,314 994 Professional service fees 1,033 500 Accrued partner expenses 903 1,253 Income taxes payable 1,197 1,713 Other 3,930 2,476 $ 35,062 $ 26,245 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands) Domestic $ (23,583 ) $ (19,107 ) $ (13,320 ) Foreign (9,205 ) 3,200 (6,240 ) Pretax loss from continuing operations $ (32,788 ) $ (15,907 ) $ (19,560 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands) Current income tax expense: Federal $ 467 $ — $ — State and local (881 ) 411 80 Foreign 1,117 1,096 1,813 Total current income tax expense 703 1,507 1,893 Deferred income tax expense (benefit): Federal 89 (175 ) — State and local (12 ) (843 ) — Foreign (323 ) 573 (1,279 ) Total deferred income tax expense (benefit) (246 ) (445 ) (1,279 ) Total income tax expense $ 457 $ 1,062 $ 614 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands) U.S. federal statutory tax rate $ (6,886 ) $ (3,340 ) $ (4,108 ) State and local income taxes, net (962 ) (519 ) 80 Stock-based compensation 10,865 6,770 2,748 Fair Value of Earnout Liability (3,946 ) — — Transaction Costs (2,209 ) — — Change in valuation allowance 3,085 (3,216 ) 1,516 Foreign operations 440 1,575 (375 ) Return-to-Provision Adjustments (196 ) (538 ) 497 Permanent differences 334 65 157 Other, net (68 ) 265 99 Total $ 457 $ 1,062 $ 614 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, December 31, 2021 2020 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 10,716 $ 6,814 Deferred Revenue 5,315 4,886 Compensation and benefits 4,384 1,792 Foreign tax credits 720 720 Fair Value of Earn-out Liability 181 — Other 1,047 1,066 Total deferred tax assets 22,363 15,278 Deferred tax liabilities: Property and equipment (132 ) (140 ) Amortization (214 ) — Commissions (7,918 ) (5,285 ) Prepaid Subscription (822 ) (580 ) Unbilled Receivable (2,183 ) (1,632 ) Total deferred tax liability (11,269 ) (7,637 ) Total Net Deferred Tax Assets 11,094 7,641 Valuation allowance (8,356 ) (5,530 ) Net deferred tax asset $ 2,738 $ 2,111 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31, December 31, 2021 2020 (in thousands) Beginning balance $ 5,369 $ 5,230 Additions based on tax positions related to the current year — — Additions for tax positions of prior years — 139 Reduction for tax positions of prior years (4,281 ) — Reduction for settlements — — Expiration of applicable statute of limitations — — Ending balance $ 1,088 $ 5,369 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31: (in thousands) 2022 $ 5,680 2023 3,808 2024 2,428 2025 1,840 2026 1,438 Thereafter 2,960 $ 18,154 |
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | Years ending December 31, (in thousands) 2022 $ 6,813 2023 — 2024 — 2025 — 2026 — Thereafter — $ 6,813 |
Note 11 - Company Earn-Out an_2
Note 11 - Company Earn-Out and Warrant Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | July 1, December 31, 2021 2021 Term (in years) 7.00 6.50 Volatility 40.00 % 40.00 % |
Note 12 - Mezzanine Equity an_2
Note 12 - Mezzanine Equity and Stockholders' Equity (Deficiency) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Redeemable Noncontrolling Interest [Table Text Block] | Redeemable noncontrolling interest (in thousands) Beginning balance (December 31, 2020) $ 3,061 Issuance of redeemable noncontrolling interest in EduTech 238 Net income (loss) attributable to redeemable noncontrolling interest (847 ) Other comprehensive income (loss) attributable to redeemable noncontrolling interest (63 ) Adjustment to present redemption value as of December 31, 2021 2,821 Ending balance (December 31, 2021) $ 5,210 |
Note 13 - Stock-based Compens_2
Note 13 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands) Cost of revenue $ 3,477 $ 592 $ 415 Sales and marketing 15,906 19,973 8,166 General and administrative 24,063 12,916 5,034 Research and development 16,062 286 278 Total stock-based compensation $ 59,508 $ 33,767 $ 13,893 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | July 1, September 1, 2021 2021 Expected term (in years) 2.77 6.11 Expected volatility 43.25 % 43.31 % Risk-free rate 0.37 % 0.94 % Dividend yield — — July 1 2021 Expected term (in years) 4.10 Expected volatility 34.44 % Risk-free rate 0.79 % Dividend yield — |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value (Aggregate Intrinsic Value figure presented in thousands) Balance, January 1, 2019 23,326,692 0.96 6.12 — Options granted 5,333,452 1.52 — — Options exercised (451,953 ) 0.19 — — Options forfeited or expired (2,501,900 ) 0.70 — — Balance, December 31, 2019 24,926,640 1.13 6.42 — Options granted 11,537,242 3.91 — — Options exercised (707,888 ) 0.77 — — Options forfeited or expired (898,926 ) 1.32 — — Balance, December 31, 2020 34,857,068 2.05 6.89 — Options granted 5,611,658 9.64 — — Options exercised (5,141,331 ) 1.08 — — Options forfeited or expired (4,847,078 ) 0.44 — — Balance, December 31, 2021 30,480,317 $ 3.87 2.83 $ 92,600 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Outstanding Exercisable Exercise Price Stock Options Weighted-Average Contractual Life Weighted-Average Exercise Price Stock Options Weighted-Average Contractual Life Weighted-Average Exercise Price $ 0.03 - $ 1.34 6,634,833 4.69 $ 1.28 6,634,833 4.69 $ 1.28 $ 1.52 - $ 1.89 6,879,874 5.84 1.59 5,195,211 5.46 1.59 $ 3.90 - $ 9.64 16,965,610 8.96 5.80 3,545,801 8.61 3.90 30,480,317 7.33 $ 3.87 15,375,845 5.85 $ 1.99 |
Note 14 - Financial Instrumen_2
Note 14 - Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Year Ended December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: U.S. treasury bills $ — $ 199,999 $ — $ 199,999 Certificate of deposits — 1,433 — 1,433 Short term investments: Certificate of deposits — 2,411 — 2,411 Other assets: Certificate of deposits — 285 — 285 Total $ — $ 204,128 $ — $ 204,128 Liabilities Earn-out liabilities (1) $ — $ — $ 10,012 $ 10,012 Warrant liabilities (1) — 458 — 458 Total $ — $ 458 $ 10,012 $ 10,470 Year Ended December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificate of deposits $ — $ 919 $ — $ 919 Short term investments: Certificate of deposits — 992 — 992 Other assets: Certificate of deposits — 800 — 800 Total $ — $ 2,711 $ — $ 2,711 |
Note 15 - Segment Information (
Note 15 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: United States $ 83,034 $ 67,823 $ 48,614 EMEA 58,285 42,441 33,661 APAC 50,590 41,269 33,824 Total revenue $ 191,909 $ 151,533 $ 116,099 Year Ended December 31, 2021 2020 2019 (in thousands) Revenue: Germany $ 23,574 $ 17,650 $ 15,094 Japan 23,360 17,331 16,619 Singapore 16,580 15,376 10,674 Other 45,361 33,353 25,098 December 31, December 31, 2021 2020 (in thousands) Property and equipment, net: United States $ 923 $ 976 China 2,376 1,219 Other 623 468 Total property and equipment, net $ 3,922 $ 2,663 |
Note 16 - Loss Per Share (Table
Note 16 - Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (33,245 ) $ (16,969 ) $ (20,174 ) Net income attributable to redeemable noncontrolling interest (1,974 ) (27 ) — Net loss attributable to AvePoint, Inc. $ (35,219 ) $ (16,996 ) $ (20,174 ) Deemed dividends on preferred stock (32,928 ) (34,446 ) (107,469 ) Total net loss available to common shareholders $ (68,147 ) $ (51,442 ) $ (127,643 ) Denominator: Weighted average common shares outstanding 141,596 89,638 74,006 Effect of dilutive securities — — — Weighted average diluted shares 141,596 89,638 74,006 Basic loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.48 ) $ (0.57 ) $ (1.72 ) Diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.48 ) $ (0.57 ) $ (1.72 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2021 2020 2019 (in thousands) Convertible preferred stock — 42,001 51,091 Restricted stock — — 2,607 Stock options 30,480 34,857 24,927 Restricted stock units 5,167 — — Warrants 17,905 — — Company Earn-Outs 3,000 — — Total potentially dilutive securities 56,552 76,858 78,625 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies 1 (Details Textual) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jul. 01, 2021USD ($) | Feb. 11, 2021 | Dec. 24, 2020 | |
Business Combination, Share Exchange Ratio | 8.69144 | |||||
Cash, Ending Balance | $ 9,300 | $ 6,800 | ||||
Tangible Asset Impairment Charges, Total | 0 | 0 | $ 0 | |||
Capitalized Contract Cost, Amortization | 9,500 | 10,500 | 7,700 | |||
Capitalized Contract Cost, Net, Total | 38,926 | 31,943 | 28,351 | |||
Capitalized Computer Software, Net, Ending Balance | 0 | 0 | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 191,909 | 151,533 | 116,099 | |||
Contract with Customer, Liability, Total | 82,332 | $ 74,688 | 60,600 | |||
Contract with Customer, Liability, Revenue Recognized | $ 62,100 | |||||
AvePoint EduTech PTE. LTD. [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 76.09% | 77.78% | 76.09% | 77.78% | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.91% | 22.22% | 23.91% | 22.22% | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||||
Open Tax Year | 2017 2018 2019 2020 | |||||
State and Local Jurisdiction [Member] | ||||||
Open Tax Year | 2017 2018 2019 2020 | |||||
Foreign Tax Authority [Member] | ||||||
Open Tax Year | 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 | |||||
Termed License and Support [Member] | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 50,970 | $ 38,949 | 26,985 | |||
Revenue, Remaining Performance Obligation, Amount | 147,100 | |||||
SaaS [Member | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 85,580 | 52,074 | 27,744 | |||
Revenue, Remaining Performance Obligation, Amount | 201,100 | |||||
Transferred at Point in Time [Member] | Termed License and Support [Member] | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 39,700 | 32,400 | 26,300 | |||
Software Development Sold to Customers [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||||
Internal Use Software [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||||
Other Nonoperating Income (Expense) [Member] | ||||||
Foreign Currency Transaction Gain (Loss), before Tax, Total | $ (900) | $ (600) | $ (700) | |||
Merger [Member] | ||||||
Goodwill, Ending Balance | $ 0 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 0 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Dec. 31, 2021 |
Revenue, Remaining Performance Obligation, Percentage | 76.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month) | 12 months |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Computer Equipment and Software [Member] | |
Estimated useful life (Year) | 3 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Estimated useful life (Year) | 5 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Estimated useful life (Year) | 11 years |
Furniture and Fixtures [Member] | |
Estimated useful life (Year) | 7 years |
Office Equipment [Member] | |
Estimated useful life (Year) | 5 years |
Building [Member] | |
Estimated useful life (Year) | 39 years 6 months |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Revenue by Source (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 191,909 | $ 151,533 | $ 116,099 |
SaaS [Member | |||
Revenue | 85,580 | 52,074 | 27,744 |
Termed License and Support [Member] | |||
Revenue | 50,970 | 38,949 | 26,985 |
Service [Member] | |||
Revenue | 31,919 | 34,140 | 26,662 |
Maintenance [Member] | |||
Revenue | 21,022 | 23,462 | 29,122 |
License [Member] | |||
Revenue | $ 2,418 | $ 2,908 | $ 5,586 |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Opening, accounts receivable, net | [1] | $ 53,749 | $ 43,619 |
Opening, deferred revenue | 74,688 | 60,600 | |
Opening, deferred sales commissions | 31,943 | 28,351 | |
Closing, accounts receivable, net | [1] | 61,335 | 53,749 |
Closing, deferred revenue | 82,332 | 74,688 | |
Closing, deferred sales commissions | 38,926 | 31,943 | |
Increase/(decrease), accounts receivable, net | [1] | 7,586 | 10,130 |
Increase/(decrease), deferred revenue | 7,644 | 14,088 | |
Increase/(decrease), deferred sales commissions | $ 6,983 | $ 3,592 | |
[1] | Accounts receivable, net is inclusive of accounts receivable, net of allowance for doubtful accounts, current unbilled receivables and long-term unbilled receivables. |
Note 3 - Business Combination (
Note 3 - Business Combination (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Jul. 26, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Payments for Exchange of Common Stock in Business Combination | $ 106.2 | ||
Stock Repurchased During Period, Shares (in shares) | 10,602,105 | ||
Common Stock, Shares Authorized (in shares) | 1,000,000,000 | 1,000,000,000 | 243,360,000 |
Preferred Stock, Shares Authorized (in shares) | 20,000,000 | 20,000,000 | |
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 180,272,638 | 181,821,767 | 100,068,469 |
Class of Warrant or Right, Outstanding (in shares) | 17,905,000 | ||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.50 | ||
Cash Acquired in Excess of Payments to Acquire Business | $ 204.5 | ||
Business Combination, Acquisition Related Costs | $ 56.2 | ||
Subscription Agreements [Member] | |||
Stock Issued During Period, Shares, New Issues (in shares) | 14,000,000 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 10 | ||
Proceeds from Issuance of Common Stock | $ 140 | ||
Conversion of Legacy AvePoint Common Stock into Common Stock [Member] | |||
Conversion of Stock, Shares Issued (in shares) | 103,831,523 | ||
Conversion of Apec Class A Common Stock into Common Stock [Member] | |||
Conversion of Stock, Shares Issued (in shares) | 34,982,628 | ||
Conversion of Apec Class B Common Stock into Common Stock [Member] | |||
Conversion of Stock, Shares Issued (in shares) | 9,560,000 | ||
Conversion of Legacy AvePoint Preferred Stock into Common Stock [Member] | |||
Conversion of Stock, Shares Issued (in shares) | 28,500,592 | ||
Conversion of Stock, Amount Issued | $ 130.9 |
Note 4 - Concentration of Cre_2
Note 4 - Concentration of Credit Risk (Details Textual) - Customer Concentration Risk [Member] Pure in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer Benchmark [Member] | |||
Number of Major Customers | 0 | 0 | 0 |
Accounts Receivable [Member] | |||
Number of Major Customers | 0 | 0 |
Note 5 - Accounts Receivable,_3
Note 5 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Allowance for doubtful accounts | $ (838) | $ (1,767) |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 55,067 | 48,250 |
Trade Accounts Receivable [Member] | ||
Accounts receivable, gross | 38,819 | 33,521 |
Unbilled Receivable [Member] | ||
Accounts receivable, gross | $ 17,086 | $ 16,496 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Depletion and Amortization, Total | $ 1,238 | $ 1,059 | $ 1,049 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment, Gross, Ending Balance | $ 11,206 | $ 8,945 |
Less accumulated depreciation and amortization | (7,284) | (6,282) |
Property, Plant and Equipment, Net, Ending Balance | 3,922 | 2,663 |
Computer Equipment [Member] | ||
Property, Plant and Equipment, Gross, Ending Balance | 5,777 | 4,030 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Gross, Ending Balance | 2,769 | 2,633 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Gross, Ending Balance | 1,102 | 887 |
Building [Member] | ||
Property, Plant and Equipment, Gross, Ending Balance | 786 | 766 |
Office Equipment [Member] | ||
Property, Plant and Equipment, Gross, Ending Balance | 394 | 384 |
Software and Software Development Costs [Member] | ||
Property, Plant and Equipment, Gross, Ending Balance | $ 378 | $ 245 |
Note 7 - Accrued Expenses and_3
Note 7 - Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued compensation | $ 22,740 | $ 16,738 |
Indirect taxes | 3,945 | 2,571 |
Cloud service fees | 1,314 | 994 |
Professional service fees | 1,033 | 500 |
Accrued partner expenses | 903 | 1,253 |
Income taxes payable | 1,197 | 1,713 |
Other | 3,930 | 2,476 |
Accrued Liabilities and Other Liabilities, Total | $ 35,062 | $ 26,245 |
Note 8 - Line of Credit (Detail
Note 8 - Line of Credit (Details Textual) - HSBC Venture Bank USA Inc. [Member] - USD ($) $ in Thousands | Apr. 07, 2020 | Dec. 31, 2021 | Jul. 01, 2021 |
Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000 | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | ||
Proceeds from Lines of Credit, Total | $ 0 | ||
Long-term Line of Credit, Total | $ 0 | ||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.50% | ||
Revolving Credit Facility [Member] | AvePoint US, LLC [Member] | |||
Debt Instrument, Percentage of Equity Pledged | 100.00% | ||
Line of Credit, Accordion Feature [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |
Deferred Tax Assets, Valuation Allowance, Total | $ 8,356 | $ 5,530 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 2,900 | (4,600) |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 1,300 | 1,200 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 0 | $ 0 |
Unrecognized Tax Benefits, Decrease Resulting from Filing Amended Tax Returns | 4,000 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 6,600 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Open Tax Year | 2017 2018 2019 2020 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 14,700 | |
Open Tax Year | 2017 2018 2019 2020 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 35,600 | |
Tax Credit Carryforward, Amount | $ 700 | |
Open Tax Year | 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 | |
Foreign Tax Authority [Member] | Minimum [Member] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2022 | |
Foreign Tax Authority [Member] | Maximum [Member] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2023 |
Note 9 - Income Taxes - Pretax
Note 9 - Income Taxes - Pretax Loss Resulting from Domestic and Foreign Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Domestic | $ (23,583) | $ (19,107) | $ (13,320) |
Foreign | (9,205) | 3,200 | (6,240) |
Loss before income taxes | $ (32,788) | $ (15,907) | $ (19,560) |
Note 9 - Income Taxes - Compone
Note 9 - Income Taxes - Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Federal | $ 467 | $ 0 | $ 0 |
State and local | (881) | 411 | 80 |
Foreign | 1,117 | 1,096 | 1,813 |
Total current income tax expense | 703 | 1,507 | 1,893 |
Federal | 89 | (175) | 0 |
State and local | (12) | (843) | 0 |
Foreign | (323) | 573 | (1,279) |
Total deferred income tax expense (benefit) | (246) | (445) | (1,279) |
Total | $ 457 | $ 1,062 | $ 614 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Amounts of US Federal Statutory Income Tax Rate to Effective Income Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
U.S. federal statutory tax rate | $ (6,886) | $ (3,340) | $ (4,108) |
State and local income taxes, net | (962) | (519) | 80 |
Stock-based compensation | 10,865 | 6,770 | 2,748 |
Fair Value of Earnout Liability | (3,946) | 0 | 0 |
Transaction Costs | (2,209) | 0 | 0 |
Change in valuation allowance | 3,085 | (3,216) | 1,516 |
Foreign operations | 440 | 1,575 | (375) |
Return-to-Provision Adjustments | (196) | (538) | 497 |
Permanent differences | 334 | 65 | 157 |
Other, net | (68) | 265 | 99 |
Total | $ 457 | $ 1,062 | $ 614 |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Net operating loss carryforwards | $ 10,716 | $ 6,814 |
Deferred Revenue | 5,315 | 4,886 |
Compensation and benefits | 4,384 | 1,792 |
Foreign tax credits | 720 | 720 |
Fair Value of Earn-out Liability | 181 | 0 |
Other | 1,047 | 1,066 |
Total deferred tax assets | 22,363 | 15,278 |
Property and equipment | 132 | 140 |
Amortization | 214 | 0 |
Commissions | 7,918 | 5,285 |
Prepaid Subscription | (822) | (580) |
Unbilled Receivable | (2,183) | (1,632) |
Total deferred tax liability | (11,269) | (7,637) |
Total Net Deferred Tax Assets | 11,094 | 7,641 |
Valuation allowance | (8,356) | (5,530) |
Net deferred tax asset | $ 2,738 | $ 2,111 |
Note 9 - Income Taxes - Recon_2
Note 9 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning balance | $ 5,369 | $ 5,230 |
Additions based on tax positions related to the current year | 0 | 0 |
Additions for tax positions of prior years | 0 | 139 |
Reduction for tax positions of prior years | (4,281) | 0 |
Reduction for settlements | 0 | 0 |
Expiration of applicable statute of limitations | 0 | 0 |
Ending balance | $ 1,088 | $ 5,369 |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
May 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Apr. 30, 2019 | Jun. 30, 2017 | |
Operating Lease, Expense | $ 6,400 | $ 5,600 | $ 5,400 | ||||
Unrecorded Unconditional Purchase Obligation, Total | 6,813 | $ 8,000 | |||||
Payments for Unconditional Purchase Commitment | 3,800 | 5,500 | $ 0 | ||||
Microsoft Office 365 [Member] | |||||||
Unrecorded Unconditional Purchase Obligation, Total | $ 2,100 | ||||||
Payments for Unconditional Purchase Commitment | 700 | 700 | $ 700 | ||||
IT solutions [Member] | |||||||
Unrecorded Unconditional Purchase Obligation, Total | $ 22,000 | ||||||
Payments for Unconditional Purchase Commitment | 12,100 | $ 3,100 | |||||
Unrecorded Unconditional Purchase Obligation, Term (Year) | 3 years | ||||||
Guarantee for Operating Leases [member] | |||||||
Letters of Credit Outstanding, Amount | 500 | ||||||
Guarantee for Service Agreement [Member] | |||||||
Letters of Credit Outstanding, Amount | $ 900 |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingencies - Operating Leases (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 5,680 |
2023 | 3,808 |
2024 | 2,428 |
2025 | 1,840 |
2026 | 1,438 |
Thereafter | 2,960 |
Lessee, Operating Lease, Liability, to be Paid, Total | $ 18,154 |
Note 10 - Commitments and Con_5
Note 10 - Commitments and Contingencies - Purchase Commitments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 30, 2017 |
2022 | $ 6,813 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
2026 | 0 | |
Thereafter | 0 | |
Unrecorded Unconditional Purchase Obligation, Total | $ 6,813 | $ 8,000 |
Note 11 - Company Earn-Out an_3
Note 11 - Company Earn-Out and Warrant Liabilities (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Jul. 26, 2021 | Dec. 31, 2021 | Jul. 01, 2021 |
Number of Shares Exchangeable at $12.50 (in shares) | 1,000,000 | ||
Number of Shares Exchangeable at $15.00 (in shares) | 1,000,000 | ||
Number of Shares Exchangeable at $17.50 (in shares) | 1,000,000 | ||
Business Combination, Contingent Consideration, Liability, Total | $ 10 | $ 29.6 | |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 20.3 | ||
Class of Warrant or Right, Outstanding (in shares) | 17,905,000 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.50 | ||
Private Placement Warrant [Member] | |||
Class of Warrant or Right, Outstanding (in shares) | 405,000 | ||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.50 | ||
Warrants and Rights Outstanding | 0.5 | $ 1.4 | |
Fair Value Adjustment of Warrants | $ 0.9 |
Note 11- Company Earn-Out and W
Note 11- Company Earn-Out and Warrant Liabilities - Earn-out Shares Fair Value Assumptions (Details) | Dec. 31, 2021 | Jul. 01, 2021 |
Measurement Input, Expected Term [Member] | ||
Measurement input | 6.50 | 7 |
Measurement Input, Price Volatility [Member] | ||
Measurement input | 40 | 40 |
Note 12 - Mezzanine Equity an_3
Note 12 - Mezzanine Equity and Stockholders' Equity (Deficiency) (Details Textual) $ / shares in Units, $ in Thousands, SDG in Millions, $ in Millions | Jul. 01, 2021USD ($)$ / sharesshares | Feb. 11, 2021USD ($) | Feb. 11, 2021SGD ($) | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Jul. 26, 2021$ / sharesshares | Dec. 24, 2020USD ($) | Dec. 24, 2020SDG |
Common Stock, Shares Authorized (in shares) | 1,000,000,000 | 243,360,000 | 1,000,000,000 | |||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||
Common Stock, Shares, Issued, Total (in shares) | 181,821,767 | 100,068,469 | ||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 181,821,767 | 100,068,469 | 180,272,638 | |||||
Business Combination, Share Exchange Ratio | 8.69144 | |||||||
Number of Shares Subject to Vesting Provision (in shares) | 2,916,700 | 0 | ||||||
Class of Warrant or Right, Outstanding (in shares) | 17,905,000 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 11.50 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||
Preferred Stock, Shares Authorized (in shares) | 20,000,000 | 20,000,000 | ||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | |||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |||||||
Preferred Stock, Liquidation Preference, Value | $ | $ 403,400 | |||||||
Dividends, Preferred Stock, Total | $ | $ 0 | 0 | ||||||
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total | 5,210 | 3,061 | $ 7,500 | SDG 10 | ||||
Redeemable Noncontrolling Interest, Increase from Contribution by Noncontrolling Interest | $ 800 | $ 1 | ||||||
AvePoint EduTech PTE. LTD. [Member] | ||||||||
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total | $ | $ 5,210 | $ 3,061 | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 76.09% | 76.09% | 76.09% | 77.78% | 77.78% | 77.78% | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.91% | 23.91% | 23.91% | 22.22% | 22.22% | 22.22% | ||
Convertible Preferred Stock [Member] | ||||||||
Preferred Stock, Shares Authorized (in shares) | 42,000,592 | 42,000,592 | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 42,000,592 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 42,000,592 | ||||||
Public Warrant [Member] | ||||||||
Class of Warrant or Right, Outstanding (in shares) | 17,500,000 | 17,500,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 11.50 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
Warrants and Rights Outstanding | $ | $ 59,300 |
Note 12 - Mezzanine Equity an_4
Note 12 - Mezzanine Equity and Stockholders' Equity (Deficiency) - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 3,061 | ||
Net loss attributable to and accretion of redeemable noncontrolling interest | (1,974) | $ (27) | $ 0 |
Ending balance | 5,210 | 3,061 | |
AvePoint EduTech PTE. LTD. [Member] | |||
Beginning balance | 3,061 | ||
Issuance of redeemable noncontrolling interest in EduTech | 238 | ||
Net loss attributable to and accretion of redeemable noncontrolling interest | (847) | ||
Other comprehensive income (loss) attributable to redeemable noncontrolling interest | (63) | ||
Adjustment to present redemption value as of December 31, 2021 | 2,821 | ||
Ending balance | $ 5,210 | $ 3,061 |
Note 13 - Stock-based Compens_3
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Sep. 01, 2021 | Jul. 01, 2021 | Dec. 26, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 5,611,658 | 11,537,242 | 5,333,452 | ||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 42,700 | $ 18,400 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 30,480,317 | 34,857,068 | 24,926,640 | 23,326,692 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 15,375,845 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 92,600 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 66,100 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 5,141,331 | 707,888 | 451,953 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 40,000 | ||||||
Put Option, Redemption Share (in shares) | 3,113,170 | ||||||
Put Option, Underlying Option (in shares) | 5,148,777 | ||||||
Liability Balance Related to Common Stock | $ 49,700 | $ 6,700 | |||||
Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 3,592,504 | ||||||
Reclassifications of Temporary to Permanent Equity | $ 1,700 | ||||||
Share-based Payment Arrangement, Expense | 3,500 | ||||||
PRC Options [Member] | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 24,300 | ||||||
Time and Performance Based Option [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,445,542 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised (in shares) | 60,000 | ||||||
Earn-Out RSUs [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Share-based Payment Arrangement, Expense | $ 400 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Fair Value | $ 2,500 | ||||||
Modified Common Stock [Member] | |||||||
Reclassifications of Temporary to Permanent Equity | 39,300 | ||||||
Share-based Payment Arrangement, Expense | $ 500 | ||||||
Temporary Equity, Carrying Amount, Attributable to Parent | 0 | $ 25,100 | |||||
Modified Options [Member] | |||||||
Reclassifications of Temporary to Permanent Equity | $ 49,700 | ||||||
Share-based Payment Arrangement, Expense | $ 11,800 | $ 29,600 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 1,365,503 | 19,443 | |||||
Liability Balance Related to Modified Options | $ 0 | $ 36,800 | |||||
Liability Balance Related to Modified Options Reclassified to Liability-classified Outstanding Shares | 15,400 | 5,800 | |||||
Liability Balance Related to Outstanding Shares Reclassified toTemporary Equity | $ 6,900 | 0 | |||||
Six Months Completion Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 690,474 | ||||||
Liability-classified Common Stock [Member] | |||||||
Share-based Payment Arrangement, Expense | $ 1,200 | $ 900 | |||||
The 2021 Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 43,238,067 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 5,611,658 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 4.09 | $ 1.63 | $ 0.68 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $ 23,000 | ||||||
The 2021 Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Share-based Payment Arrangement, Expense | $ 6,200 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 9.64 | ||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 45,200 |
Note 13 - Stock-based Compens_4
Note 13 - Stock-based Compensation - Stock-based Compensation (Details) - The 2006, 2016 and 2021 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stock-based Compensation | $ 59,508 | $ 33,767 | $ 13,893 |
Cost of Sales [Member] | |||
Stock-based Compensation | 3,477 | 592 | 415 |
Selling and Marketing Expense [Member] | |||
Stock-based Compensation | 15,906 | 19,973 | 8,166 |
General and Administrative Expense [Member] | |||
Stock-based Compensation | 24,063 | 12,916 | 5,034 |
Research and Development Expense [Member] | |||
Stock-based Compensation | $ 16,062 | $ 286 | $ 278 |
Note 13 - Stock-based Compens_5
Note 13 - Stock-based Compensation - Stock Option Valuation Assumptions (Details) | Sep. 01, 2021 | Jul. 01, 2021 |
Share-based Payment Arrangement, Option [Member] | The 2021 Plan [Member] | ||
Expected term (in years) (Year) | 6 years 1 month 9 days | 2 years 9 months 7 days |
Expected volatility | 43.31% | 43.25% |
Risk-free rate | 0.94% | 0.37% |
Modified Options [Member] | ||
Expected term (in years) (Year) | 4 years 1 month 6 days | |
Expected volatility | 34.44% | |
Risk-free rate | 0.79% |
Note 13 - Stock-based Compens_6
Note 13 - Stock-based Compensation - Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Balance, shares (in shares) | 34,857,068 | 24,926,640 | 23,326,692 | |
Balance, weighted average exercise price (in dollars per share) | $ 2.05 | $ 1.13 | $ 0.96 | |
Balance, weighted average remaining contractual life (Year) | 2 years 9 months 29 days | 6 years 10 months 20 days | 6 years 5 months 1 day | 6 years 1 month 13 days |
Options granted, shares (in shares) | 5,611,658 | 11,537,242 | 5,333,452 | |
Options granted, weighted average exercise price (in dollars per share) | $ 9.64 | $ 3.91 | $ 1.52 | |
Options exercised, shares (in shares) | (5,141,331) | (707,888) | (451,953) | |
Options exercised, weighted average exercise price (in dollars per share) | $ 1.08 | $ 0.77 | $ 0.19 | |
Options forfeited or expired, shares (in shares) | (4,847,078) | (898,926) | (2,501,900) | |
Options forfeited or expired, weighted average exercise price (in dollars per share) | $ 0.44 | $ 1.32 | $ 0.70 | |
Balance, shares (in shares) | 30,480,317 | 34,857,068 | 24,926,640 | 23,326,692 |
Balance, weighted average exercise price (in dollars per share) | $ 3.87 | $ 2.05 | $ 1.13 | $ 0.96 |
Balance, aggregate intrinsic value | $ 92.6 |
Note 13 - Stock-based Compens_7
Note 13 - Stock-based Compensation - Summary of Outstanding and Exercisable Stock Options (Details) | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Outstanding, stock options (in shares) | shares | 30,480,317 |
Outstanding, weighted average contractual life (Year) | 7 years 3 months 29 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 3.87 |
Exercisable, stock options (in shares) | shares | 15,375,845 |
Exercisable, weighted average contractual life (Year) | 5 years 10 months 6 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.99 |
Range 1 [Member] | |
Lower exercise price (in dollars per share) | 0.03 |
Upper exercise price (in dollars per share) | $ 1.34 |
Outstanding, stock options (in shares) | shares | 6,634,833 |
Outstanding, weighted average contractual life (Year) | 4 years 8 months 8 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 1.28 |
Exercisable, stock options (in shares) | shares | 6,634,833 |
Exercisable, weighted average contractual life (Year) | 4 years 8 months 8 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.28 |
Range 2 [Member] | |
Lower exercise price (in dollars per share) | 1.52 |
Upper exercise price (in dollars per share) | $ 1.89 |
Outstanding, stock options (in shares) | shares | 6,879,874 |
Outstanding, weighted average contractual life (Year) | 5 years 10 months 2 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 1.59 |
Exercisable, stock options (in shares) | shares | 5,195,211 |
Exercisable, weighted average contractual life (Year) | 5 years 5 months 15 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.59 |
Range 3 [Member] | |
Lower exercise price (in dollars per share) | 3.90 |
Upper exercise price (in dollars per share) | $ 9.64 |
Outstanding, stock options (in shares) | shares | 16,965,610 |
Outstanding, weighted average contractual life (Year) | 8 years 11 months 15 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 5.80 |
Exercisable, stock options (in shares) | shares | 3,545,801 |
Exercisable, weighted average contractual life (Year) | 8 years 7 months 9 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 3.90 |
Note 14 - Financial Instrumen_3
Note 14 - Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Total | $ 0 | $ 0 | |
Liabilities | 0 | ||
Company Earn-Outs [Member] | |||
Liabilities | [1] | 0 | |
Warrant Liabilities [Member] | |||
Liabilities | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | |||
Total | 204,128 | 2,711 | |
Liabilities | 458 | ||
Fair Value, Inputs, Level 1 [Member] | Company Earn-Outs [Member] | |||
Liabilities | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Warrant Liabilities [Member] | |||
Liabilities | [1] | 458 | |
Fair Value, Inputs, Level 2 [Member] | |||
Total | 0 | 0 | |
Liabilities | 10,012 | ||
Fair Value, Inputs, Level 2 [Member] | Company Earn-Outs [Member] | |||
Liabilities | [1] | 10,012 | |
Fair Value, Inputs, Level 2 [Member] | Warrant Liabilities [Member] | |||
Liabilities | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Total | 204,128 | 2,711 | |
Liabilities | 10,470 | ||
Fair Value, Inputs, Level 3 [Member] | Company Earn-Outs [Member] | |||
Liabilities | [1] | 10,012 | |
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member] | |||
Liabilities | [1] | 458 | |
US Treasury Securities [Member] | |||
Cash Equivalents | 0 | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash Equivalents | 199,999 | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash Equivalents | 0 | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash Equivalents | 199,999 | ||
Certificates of Deposit [Member] | |||
Cash Equivalents | 0 | 0 | |
Short term investments | 0 | 0 | |
Certificate of deposits | 0 | 0 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash Equivalents | 1,433 | 919 | |
Short term investments | 2,411 | 992 | |
Certificate of deposits | 285 | 800 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash Equivalents | 0 | 0 | |
Short term investments | 0 | 0 | |
Certificate of deposits | 0 | 0 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash Equivalents | 1,433 | 919 | |
Short term investments | 2,411 | 992 | |
Certificate of deposits | $ 285 | $ 800 | |
[1] | As a result of the Business Combination on July 1, 2021, the Company recorded Company Earn-Out Shares and private placement warrants as liabilities that must be marked to market each reporting period. The Company measured the Company Earn-Out Shares at fair value determined at Level 3. The Company measured the private placement warrants at fair value determined at Level 1. Refer to "Note 123 — Earn-Out and Warrant Liabilities" for further details. |
Note 15 - Segment Information_2
Note 15 - Segment Information (Details Textual) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Number of Operating Segments | 1 | ||
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | |||
Number of Major Customers | 0 | 0 | 0 |
Note 15 - Segment Information -
Note 15 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 191,909 | $ 151,533 | $ 116,099 |
Property and equipment, net | 3,922 | 2,663 | |
UNITED STATES | |||
Revenue | 83,034 | 67,823 | 48,614 |
Property and equipment, net | 923 | 976 | |
GERMANY | |||
Revenue | 23,574 | 17,650 | 15,094 |
EMEA [Member] | |||
Revenue | 58,285 | 42,441 | 33,661 |
JAPAN | |||
Revenue | 23,360 | 17,331 | 16,619 |
CHINA | |||
Property and equipment, net | 2,376 | 1,219 | |
Asia Pacific [Member] | |||
Revenue | 50,590 | 41,269 | 33,824 |
SINGAPORE | |||
Revenue | 16,580 | 15,376 | 10,674 |
Other Countries [Member] | |||
Revenue | 45,361 | 33,353 | $ 25,098 |
Property and equipment, net | $ 623 | $ 468 |
Note 16 - Loss Per Share - Loss
Note 16 - Loss Per Share - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net loss | $ (33,245) | $ (16,969) | $ (20,174) |
Net loss attributable to and accretion of redeemable noncontrolling interest | (1,974) | (27) | 0 |
Net loss attributable to AvePoint, Inc. | (35,219) | (16,996) | (20,174) |
Deemed dividends on preferred stock | (32,928) | (34,446) | (107,469) |
Total net loss available to common shareholders | $ (68,147) | $ (51,442) | $ (127,643) |
Weighted average common shares outstanding (in shares) | 141,596 | 89,638 | 74,006 |
Effect of dilutive securities (in shares) | 0 | 0 | 0 |
Weighted average diluted shares (in shares) | 141,596 | 89,638 | 74,006 |
Basic loss per share available to common shareholders, excluding sponsor earn-out shareholders (in dollars per share) | $ (0.48) | $ (0.57) | $ (1.72) |
Diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders (in dollars per share) | $ (0.48) | $ (0.57) | $ (1.72) |
Note 16 - Loss Per Share - Anti
Note 16 - Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive securities (in shares) | 56,552 | 76,858 | 78,625 |
Convertible Preferred Stock [Member] | |||
Antidilutive securities (in shares) | 42,001 | 51,091 | |
Restricted Stock [Member] | |||
Antidilutive securities (in shares) | 2,607 | ||
Share-based Payment Arrangement, Option [Member] | |||
Antidilutive securities (in shares) | 30,480 | 34,857 | 24,927 |
Restricted Stock Units (RSUs) [Member] | |||
Antidilutive securities (in shares) | 5,167 | ||
Warrant [Member] | |||
Antidilutive securities (in shares) | 17,905 | ||
Company Earn-Outs [Member] | |||
Antidilutive securities (in shares) | 3,000 |
Note 18 - Subsequent Events (De
Note 18 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Mar. 21, 2022 | Mar. 17, 2022 | Feb. 18, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 5,611,658 | 11,537,242 | 5,333,452 | |||
Subsequent Event [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 689,406 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options , Grants in Period, Value | $ 26.3 | |||||
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 4,159,532 | |||||
Subsequent Event [Member] | Share Repurchase Program [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 150 | |||||
Treasury Stock, Shares, Acquired (in shares) | 135,000 | |||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 5.49 | |||||
I-Access Solutions Pte. Ltd. [Member] | Subsequent Event [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 7.4 | |||||
Payments to Acquire Businesses, Gross | 1.5 | |||||
I-Access Solutions Pte. Ltd. [Member] | Subsequent Event [Member] | Ordinary Shares of EduTech [Member] | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 5.9 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Percentage Held in Escrow | 9.50% |