Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2023 | |
Document Information [Line Items] | |
Entity Central Index Key | 0001777921 |
Entity Registrant Name | AvePoint, Inc. |
Amendment Flag | true |
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 | Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Amendment Description | This registration statement on Form S-1 constitutes a post-effective amendment (the “Post-Effective Amendment”) to our registration statement on Form S-3, which was originally filed as Post-Effective Amendment No. 2 to Form S-1 (Registration No. 333-258109) (the “Form S-1”) on Form S-3 on August 25, 2022 (the “Form S-3”). The Form S-3 was declared effective on August 30, 2022. The Form S-1 was originally filed on July 23, 2021, was amended on August 5, 2021, and was declared effective on August 9, 2021. The Form S-1 was later amended pursuant to Post-Effective Amendment No. 1 to Form S-1 (the “Post-Effective Amendment No. 1”) on April 5, 2022. The Post-Effective Amendment No. 1 was declared effective on April 11, 2022. We are filing this Post-Effective Amendment for the purpose of converting the registration statement on Form S-3 into a registration statement on Form S-1 because we are now ineligible to use Form S-3 due to the untimely filing of our Annual Report on Form 10-K for the year ended December 31, 2022. This registration statement on Form S-1 contains an updated Prospectus relating to the issuance, offering, and sale of the Common Stock and Warrants that were registered for issuance or resale, as applicable, on the registration statement on Form S-3. This Post-Effective Amendment amends and restates the information contained in the registration statement on Form S-3. |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 24, 2020 | Dec. 31, 2019 |
Assets | |||||||
Cash and cash equivalents | $ 228,827 | $ 227,188 | $ 268,217 | ||||
Short-term investments | 2,879 | 2,620 | 2,411 | ||||
Accounts receivable, net of allowance of $725 and $838 as of December 31, 2022 and December 31, 2021, respectively | 56,627 | 66,474 | 55,067 | ||||
Prepaid expenses and other current assets | 6,453 | 10,013 | 8,461 | ||||
Total current assets | 294,786 | 306,295 | 334,156 | ||||
Property and equipment, net | 5,176 | 5,537 | 3,922 | ||||
Goodwill | 18,871 | 18,904 | 0 | ||||
Intangible assets, net | 10,848 | 11,079 | 0 | ||||
Operating lease right-of-use assets | 16,984 | 15,855 | 0 | ||||
Deferred contract costs | 47,794 | 48,553 | 38,926 | ||||
Other assets | 7,052 | 9,310 | 11,734 | ||||
Total assets | 401,511 | 415,533 | 388,738 | ||||
Liabilities, mezzanine equity, and stockholders’ equity | |||||||
Accounts payable | 1,451 | 1,519 | 1,824 | ||||
Accrued expenses and other liabilities | 35,057 | 47,784 | 35,062 | ||||
Current portion of deferred revenue | 91,479 | 93,405 | 74,294 | ||||
Total current liabilities | 127,987 | 142,708 | 111,180 | ||||
Long-term operating lease liabilities | 11,755 | 11,348 | 0 | ||||
Long-term portion of deferred revenue | 7,710 | 8,085 | 8,038 | ||||
Earn-out shares liabilities | 6,922 | 6,631 | 10,012 | ||||
Other non-current liabilities | 5,839 | 3,607 | 3,943 | ||||
Total liabilities | 160,213 | 172,379 | 133,173 | ||||
Commitments and contingencies (Note 13) | |||||||
Mezzanine equity | |||||||
Redeemable noncontrolling interest | 14,057 | 14,007 | 5,210 | $ 7,500 | |||
Total mezzanine equity | 14,057 | 14,007 | 5,210 | ||||
Common Stock, $0.0001 par value; 1,000,000 shares authorized, 185,278 and 181,822 shares issued and outstanding | 19 | 19 | 18 | ||||
Additional paid-in capital | 674,768 | 665,715 | 625,056 | ||||
Treasury stock | (23,477) | (21,666) | (1,739) | ||||
Accumulated other comprehensive income | 2,055 | 2,006 | 2,317 | ||||
Accumulated deficit | (426,124) | (416,927) | (375,297) | ||||
Total stockholders’ equity | 227,241 | 229,147 | $ 245,237 | 250,355 | $ (192,827) | $ (198,682) | |
Total liabilities, mezzanine equity, and stockholders’ equity | $ 401,511 | $ 415,533 | $ 388,738 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 26, 2021 |
Accounts receivable, allowance | $ 847 | $ 725 | $ 838 | |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued (in shares) | 186,788,000 | 185,277,588 | 181,821,767 | |
Common stock, shares outstanding (in shares) | 186,788,000 | 185,277,588 | 181,821,767 | 180,272,638 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | |||||
Revenue | $ 59,572 | $ 50,291 | $ 232,339 | $ 191,909 | $ 151,533 |
Cost of revenue: | |||||
Cost of revenue | 17,890 | 14,776 | 65,123 | 52,664 | 40,290 |
Gross profit | 41,682 | 35,515 | 167,216 | 139,245 | 111,243 |
Operating expenses: | |||||
Sales and marketing | 26,851 | 27,206 | 109,805 | 100,512 | 76,545 |
General and administrative | 14,648 | 15,602 | 64,874 | 59,221 | 36,872 |
Research and development | 9,015 | 6,555 | 30,519 | 31,765 | 12,204 |
Total operating expenses | 50,514 | 49,363 | 208,282 | 192,736 | 126,680 |
Loss from operations | (8,832) | (13,848) | (41,066) | (53,491) | (15,437) |
Gain on earn-out and warrant liabilities | (109) | 3,267 | 4,497 | 21,233 | 0 |
Interest (expense) income, net | 325 | 14 | (40) | 102 | 41 |
Other income (expense), net | 1,412 | (177) | 2,959 | (632) | (511) |
Loss before income taxes | (7,204) | (10,744) | (33,650) | (32,788) | (15,907) |
Income tax expense | 1,978 | 309 | 5,038 | 457 | 1,062 |
Net loss | (9,182) | (11,053) | (38,688) | (33,245) | (16,969) |
Net income attributable to and accretion of redeemable noncontrolling interest | (15) | (617) | (2,942) | (1,974) | (27) |
Net loss attributable to AvePoint, Inc. | (9,197) | (11,670) | (41,630) | (35,219) | (16,996) |
Net loss available to Common Stockholders | $ (9,197) | $ (11,670) | $ (41,630) | $ (68,147) | $ (51,442) |
Basic and diluted loss per share (in dollars per share) | $ (0.05) | $ (0.06) | $ (0.23) | $ (0.48) | $ (0.57) |
Basic and diluted shares used in computing loss per share (in shares) | 182,818 | 182,833 | 181,957 | 141,596 | 89,638 |
SaaS [Member | |||||
Revenue: | |||||
Revenue | $ 35,512 | $ 26,553 | $ 117,180 | $ 85,580 | $ 52,074 |
Cost of revenue: | |||||
Cost of revenue | 7,895 | 5,563 | 26,617 | 19,039 | 11,050 |
Termed License and Support [Member] | |||||
Revenue: | |||||
Revenue | 10,904 | 10,202 | 57,214 | 50,970 | 38,949 |
Cost of revenue: | |||||
Cost of revenue | 461 | 585 | 1,969 | 950 | 1,930 |
Service [Member] | |||||
Revenue: | |||||
Revenue | 9,747 | 8,925 | 41,283 | 31,919 | 34,140 |
Cost of revenue: | |||||
Cost of revenue | 9,351 | 8,350 | 35,629 | 30,726 | 26,089 |
Maintenance [Member] | |||||
Revenue: | |||||
Revenue | 3,409 | 4,611 | 15,868 | 21,022 | 23,462 |
Cost of revenue: | |||||
Cost of revenue | $ 183 | $ 278 | $ 908 | $ 1,949 | $ 1,221 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (9,182) | $ (11,053) | $ (38,688) | $ (33,245) | $ (16,969) |
Other comprehensive (loss) income net of taxes | |||||
Foreign currency translation adjustments | (84) | 1,728 | 250 | (463) | (217) |
Total other comprehensive (loss) income | 84 | (1,728) | (250) | 463 | 217 |
Total comprehensive loss | (9,098) | (12,781) | (38,938) | (32,782) | (16,752) |
Comprehensive income attributable to redeemable noncontrolling interest | (50) | (608) | (3,003) | (1,911) | (27) |
Total comprehensive loss attributable to AvePoint, Inc. | $ (9,148) | $ (13,389) | $ (41,941) | $ (34,693) | $ (16,779) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Mezzanine Equity and Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Noncontrolling Interest [Member] | Temporary Equity, Including Portion Attributable to Noncontrolling Interests [Member] | Common Stock Outstanding [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | |||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2019 | $ 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 | |||||||
Proceeds from exercise of options (in shares) | [1] | 759,293 | ||||||||||
Proceeds from exercise of options | 612 | $ 0 | 612 | 0 | 0 | |||||||
Stock-based compensation expense | 3,277 | 0 | 3,277 | 0 | 0 | |||||||
Net loss | (16,969) | 0 | 0 | (16,969) | 0 | |||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 27 | 27 | ||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (27) | 0 | 0 | (27) | 0 | |||||||
Foreign currency translation adjustment | 217 | $ 0 | 0 | 0 | 217 | |||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2020 | 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 | ||||||
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 | ||||||
Reclassification of earn-out RSUs to earn-out shares | (714) | 0 | (714) | 0 | 0 | 0 | ||||||
Repurchase of Common Stock | (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) | (1,974) | (1,974) | 0 | 0 | 0 | (1,974) | 0 | ||||
Foreign currency translation adjustment | (63) | (63) | ||||||||||
Foreign currency translation adjustment | 526 | $ 0 | 0 | $ 0 | 0 | 526 | ||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2021 | 5,210 | 5,210 | 5,210 | |||||||||
Balance (in shares) at Dec. 31, 2021 | 181,821,767 | [2] | 181,821,767 | [1] | 143,564 | |||||||
Balance at Dec. 31, 2021 | 250,355 | $ 18 | [2] | 625,056 | $ (1,739) | (375,297) | 2,317 | |||||
Proceeds from exercise of options (in shares) | 713,810 | [2] | 0 | |||||||||
Proceeds from exercise of options | 1,036 | 0 | [2] | 1,036 | $ 0 | 0 | 0 | |||||
Common Stock issued upon vesting of restricted stock units (in shares) | 92,430 | [2] | 0 | |||||||||
Common Stock issued upon vesting of restricted stock units | 0 | 0 | [2] | 0 | $ 0 | 0 | 0 | |||||
Stock-based compensation expense | 8,274 | 0 | [2] | 8,274 | 0 | 0 | 0 | |||||
Reclassification of earn-out RSUs to earn-out shares | (296) | 0 | [2] | (296) | 0 | 0 | 0 | |||||
Repurchase of Common Stock (in shares) | [2] | (135,000) | ||||||||||
Repurchase of Common Stock | (743) | 0 | [2] | 0 | $ (743) | 0 | 0 | |||||
Repurchase of Common Stock (in shares) | 135,000 | |||||||||||
Net loss | (11,053) | 0 | [2] | 0 | $ 0 | (11,053) | 0 | |||||
Net income attributable to and accretion of redeemable noncontrolling interest | 617 | 617 | ||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (617) | 0 | [2] | 0 | 0 | (617) | 0 | |||||
Foreign currency translation adjustment | (9) | (9) | ||||||||||
Foreign currency translation adjustment | (1,719) | 0 | 0 | $ 0 | 0 | (1,719) | ||||||
Balance, temporary equity, including noncontrolling interest at Mar. 31, 2022 | 5,818 | 5,818 | ||||||||||
Balance (in shares) at Mar. 31, 2022 | 182,493,007 | [2] | 278,564 | |||||||||
Balance at Mar. 31, 2022 | 245,237 | $ 18 | [2] | 634,070 | $ (2,482) | (386,967) | 598 | |||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2021 | 5,210 | 5,210 | 5,210 | |||||||||
Balance (in shares) at Dec. 31, 2021 | 181,821,767 | [2] | 181,821,767 | [1] | 143,564 | |||||||
Balance at Dec. 31, 2021 | $ 250,355 | $ 18 | [2] | 625,056 | $ (1,739) | (375,297) | 2,317 | |||||
Proceeds from exercise of options (in shares) | 1,799,665 | 1,799,665 | [2] | 0 | ||||||||
Proceeds from exercise of options | $ 2,818 | 0 | [2] | 2,818 | $ 0 | 0 | 0 | |||||
Common Stock issued upon vesting of restricted stock units (in shares) | 1,784,993 | [2] | 0 | |||||||||
Common Stock issued upon vesting of restricted stock units | 0 | 0 | [2] | 0 | $ 0 | 0 | 0 | |||||
Stock-based compensation expense | 37,210 | 0 | [2] | 37,210 | 0 | 0 | 0 | |||||
Reclassification of earn-out RSUs to earn-out shares | (885) | 0 | [2] | (885) | 0 | 0 | 0 | |||||
Repurchase of Common Stock (in shares) | [2] | (4,046,186) | ||||||||||
Repurchase of Common Stock | (19,927) | 0 | [2] | 0 | $ (19,927) | 0 | 0 | |||||
Repurchase of Common Stock (in shares) | 4,046,186 | |||||||||||
Net loss | (38,688) | 0 | [2] | 0 | $ 0 | (38,688) | 0 | |||||
Net income attributable to and accretion of redeemable noncontrolling interest | 2,942 | 2,942 | ||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (2,942) | 0 | [2] | 0 | 0 | (2,942) | 0 | |||||
Foreign currency translation adjustment | 61 | 61 | ||||||||||
Foreign currency translation adjustment | (311) | 0 | 0 | $ 0 | 0 | (311) | ||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2022 | 14,007 | 14,007 | 14,007 | |||||||||
Balance (in shares) at Dec. 31, 2022 | 185,277,588 | [2] | 4,189,750 | |||||||||
Balance at Dec. 31, 2022 | $ 229,147 | 19 | [2] | 665,715 | $ (21,666) | (416,927) | 2,006 | |||||
Proceeds from exercise of options (in shares) | 680,385 | 680,385 | [2] | 0 | ||||||||
Proceeds from exercise of options | $ 1,131 | 0 | [2] | 1,131 | $ 0 | 0 | 0 | |||||
Common Stock issued upon vesting of restricted stock units (in shares) | 1,254,710 | [2] | 0 | |||||||||
Common Stock issued upon vesting of restricted stock units | 0 | 0 | [2] | 0 | $ 0 | 0 | 0 | |||||
Stock-based compensation expense | 8,104 | 0 | [2] | 8,104 | 0 | 0 | 0 | |||||
Reclassification of earn-out RSUs to earn-out shares | (182) | 0 | [2] | (182) | 0 | 0 | 0 | |||||
Repurchase of Common Stock (in shares) | [2] | (424,876) | ||||||||||
Repurchase of Common Stock | (1,811) | 0 | [2] | 0 | $ (1,811) | 0 | 0 | |||||
Repurchase of Common Stock (in shares) | 424,876 | |||||||||||
Net loss | (9,182) | 0 | [2] | 0 | (9,182) | 0 | ||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 15 | 15 | ||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (15) | 0 | [2] | 0 | $ 0 | (15) | 0 | |||||
Foreign currency translation adjustment | 35 | 35 | ||||||||||
Foreign currency translation adjustment | 49 | 0 | 0 | $ 0 | 0 | 49 | ||||||
Balance, temporary equity, including noncontrolling interest at Mar. 31, 2023 | 14,057 | $ 14,057 | $ 14,057 | |||||||||
Balance (in shares) at Mar. 31, 2023 | 186,787,807 | [2] | 4,614,626 | |||||||||
Balance at Mar. 31, 2023 | $ 227,241 | $ 19 | [2] | $ 674,768 | $ (23,477) | $ (426,124) | $ 2,055 | |||||
[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.[2]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. |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating activities | ||
Net loss | $ (9,182) | $ (11,053) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 1,134 | 511 |
Operating lease right-of-use assets expense | 1,749 | 1,151 |
Foreign currency remeasurement (gain) loss | (175) | 194 |
Stock-based compensation | 8,104 | 8,274 |
Deferred income taxes | (82) | (9) |
Other | (1,566) | (21) |
Change in value of earn-out and warrant liabilities | 109 | (3,252) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 10,049 | 6,837 |
Prepaid expenses and other current assets | 3,571 | 205 |
Deferred contract costs and other assets | 2,987 | 321 |
Accounts payable, accrued expenses, operating lease liabilities and other liabilities | (12,828) | (11,725) |
Deferred revenue | (2,620) | 2,444 |
Net cash provided by (used in) operating activities | 1,250 | (6,123) |
Investing activities | ||
Maturities of investments | 1,670 | 861 |
Purchases of investments | (74) | (179,890) |
Cash paid in business combinations and asset acquisitions, net of cash acquired | 0 | (1,473) |
Capitalization of internal-use software | (259) | 0 |
Purchase of property and equipment | (225) | (969) |
Other | (250) | 0 |
Net cash provided by (used in) investing activities | 862 | (181,471) |
Financing activities | ||
Purchase of common stock | (1,811) | (744) |
Proceeds from stock option exercises | 1,131 | 1,036 |
Repayments of finance leases | (10) | (5) |
Net cash (used in) provided by financing activities | (690) | 287 |
Effect of exchange rates on cash | 217 | (2,146) |
Net increase (decrease) in cash and cash equivalents | 1,639 | (189,453) |
Cash and cash equivalents at beginning of period | 227,188 | 268,217 |
Cash and cash equivalents at end of period | 228,827 | 78,764 |
Supplemental disclosures of cash flow information | ||
Income taxes paid | 327 | 335 |
Contingent consideration in business combination | $ 0 | $ 5,636 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 24, 2020 | Dec. 31, 2019 |
Assets | |||||||
Cash and cash equivalents | $ 228,827 | $ 227,188 | $ 268,217 | ||||
Short-term investments | 2,879 | 2,620 | 2,411 | ||||
Accounts receivable, net of allowance of $725 and $838 as of December 31, 2022 and December 31, 2021, respectively | 56,627 | 66,474 | 55,067 | ||||
Prepaid expenses and other current assets | 6,453 | 10,013 | 8,461 | ||||
Total current assets | 294,786 | 306,295 | 334,156 | ||||
Property and equipment, net | 5,176 | 5,537 | 3,922 | ||||
Goodwill | 18,871 | 18,904 | 0 | ||||
Intangible assets, net | 10,848 | 11,079 | 0 | ||||
Operating lease right-of-use assets | 16,984 | 15,855 | 0 | ||||
Deferred contract costs | 47,794 | 48,553 | 38,926 | ||||
Other assets | 7,052 | 9,310 | 11,734 | ||||
Total assets | 401,511 | 415,533 | 388,738 | ||||
Liabilities, mezzanine equity, and stockholders’ equity | |||||||
Accounts payable | 1,451 | 1,519 | 1,824 | ||||
Accrued expenses and other liabilities | 35,057 | 47,784 | 35,062 | ||||
Current portion of deferred revenue | 91,479 | 93,405 | 74,294 | ||||
Total current liabilities | 127,987 | 142,708 | 111,180 | ||||
Long-term operating lease liabilities | 11,755 | 11,348 | 0 | ||||
Long-term portion of deferred revenue | 7,710 | 8,085 | 8,038 | ||||
Earn-out shares liabilities | 6,922 | 6,631 | 10,012 | ||||
Other non-current liabilities | 5,839 | 3,607 | 3,943 | ||||
Total liabilities | 160,213 | 172,379 | 133,173 | ||||
Commitments and contingencies (Note 13) | |||||||
Mezzanine equity | |||||||
Redeemable noncontrolling interest | 14,057 | 14,007 | 5,210 | $ 7,500 | |||
Total mezzanine equity | 14,057 | 14,007 | 5,210 | ||||
Common Stock, $0.0001 par value; 1,000,000 shares authorized, 185,278 and 181,822 shares issued and outstanding | 19 | 19 | 18 | ||||
Additional paid-in capital | 674,768 | 665,715 | 625,056 | ||||
Treasury stock | (23,477) | (21,666) | (1,739) | ||||
Accumulated other comprehensive income | 2,055 | 2,006 | 2,317 | ||||
Accumulated deficit | (426,124) | (416,927) | (375,297) | ||||
Total stockholders’ equity | 227,241 | 229,147 | $ 245,237 | 250,355 | $ (192,827) | $ (198,682) | |
Total liabilities, mezzanine equity, and stockholders’ equity | $ 401,511 | $ 415,533 | $ 388,738 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 26, 2021 |
Accounts receivable, allowance | $ 847 | $ 725 | $ 838 | |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued (in shares) | 186,788,000 | 185,277,588 | 181,821,767 | |
Common stock, shares outstanding (in shares) | 186,788,000 | 185,277,588 | 181,821,767 | 180,272,638 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | |||
Revenue | $ 232,339 | $ 191,909 | $ 151,533 |
Cost of revenue: | |||
Cost of revenue | 65,123 | 52,664 | 40,290 |
Gross profit | 167,216 | 139,245 | 111,243 |
Operating expenses: | |||
Sales and marketing | 109,805 | 100,512 | 76,545 |
General and administrative | 64,874 | 59,221 | 36,872 |
Research and development | 30,519 | 31,765 | 12,204 |
Depreciation and amortization | 3,084 | 1,238 | 1,059 |
Total operating expenses | 208,282 | 192,736 | 126,680 |
Loss from operations | (41,066) | (53,491) | (15,437) |
Gain on earn-out and warrant liabilities | 4,497 | 21,233 | 0 |
Interest (expense) income, net | (40) | 102 | 41 |
Other income (expense), net | 2,959 | (632) | (511) |
Loss before income taxes | (33,650) | (32,788) | (15,907) |
Income tax expense | 5,038 | 457 | 1,062 |
Net loss | (38,688) | (33,245) | (16,969) |
Net income attributable to and accretion of redeemable noncontrolling interest | (2,942) | (1,974) | (27) |
Net loss attributable to AvePoint, Inc. | (41,630) | (35,219) | (16,996) |
Deemed dividends on preferred stock | 0 | (32,928) | (34,446) |
Net loss available to Common Stockholders | $ (41,630) | $ (68,147) | $ (51,442) |
Basic and diluted loss per share (in dollars per share) | $ (0.23) | $ (0.48) | $ (0.57) |
Basic and diluted shares used in computing loss per share (in shares) | 181,957 | 141,596 | 89,638 |
SaaS [Member | |||
Revenue: | |||
Revenue | $ 117,180 | $ 85,580 | $ 52,074 |
Cost of revenue: | |||
Cost of revenue | 26,617 | 19,039 | 11,050 |
Termed License and Support [Member] | |||
Revenue: | |||
Revenue | 57,214 | 50,970 | 38,949 |
Cost of revenue: | |||
Cost of revenue | 1,969 | 950 | 1,930 |
Service [Member] | |||
Revenue: | |||
Revenue | 41,283 | 31,919 | 34,140 |
Cost of revenue: | |||
Cost of revenue | 35,629 | 30,726 | 26,089 |
Maintenance [Member] | |||
Revenue: | |||
Revenue | 15,868 | 21,022 | 23,462 |
Cost of revenue: | |||
Cost of revenue | 908 | 1,949 | 1,221 |
License [Member] | |||
Revenue: | |||
Revenue | $ 794 | $ 2,418 | $ 2,908 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ 9,182 | $ 11,053 | $ 38,688 | $ 33,245 | $ 16,969 |
Other comprehensive (loss) income net of taxes | |||||
Foreign currency translation adjustments | (84) | 1,728 | 250 | (463) | (217) |
Total other comprehensive (loss) income | 84 | (1,728) | (250) | 463 | 217 |
Total comprehensive loss | (9,098) | (12,781) | (38,938) | (32,782) | (16,752) |
Comprehensive income attributable to redeemable noncontrolling interest | (50) | (608) | (3,003) | (1,911) | (27) |
Total comprehensive loss attributable to AvePoint, Inc. | $ (9,148) | $ (13,389) | $ (41,941) | $ (34,693) | $ (16,779) |
Consolidated Statements of Mezz
Consolidated Statements of Mezzanine Equity and Stockholders' Equity (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] | 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] | Common Stock Outstanding [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, Common [Member] | Treasury Stock, Common [Member] Reclassification of Redeemable Common Shares from Temporary to Permanent Equity [Member] | Treasury Stock, Common [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] | 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] | 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] | |||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2019 | $ 0 | $ 194,631 | $ 182,656 | $ 10,684 | $ 1,291 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | [1] | 759,293 | |||||||||||||||||||||||||||||||||||
Proceeds from exercise of options | 612 | $ 0 | 612 | 0 | 0 | ||||||||||||||||||||||||||||||||
Stock-based compensation expense | 3,277 | 0 | 3,277 | 0 | 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 | 27 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (27) | 0 | 0 | (27) | 0 | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 217 | 0 | 0 | 0 | 217 | ||||||||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2019 | [1] | 51,091,344 | |||||||||||||||||||||||||||||||||||
Reclassification of share-based awards to mezzanine equity | (198) | 0 | 198 | 0 | (198) | 0 | 0 | $ 0 | 0 | 198 | |||||||||||||||||||||||||||
Remeasurement of redemption value of common shares | (14,390) | 0 | 14,390 | 0 | 0 | (14,390) | 0 | 0 | 14,390 | 0 | |||||||||||||||||||||||||||
Remeasurement of redemption value of convertible preferred stock | (32,976) | 0 | 32,976 | 0 | 0 | (32,976) | 0 | $ 32,976 | 0 | 0 | |||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 4,471 | 0 | 4,471 | 0 | 0 | ||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 27 | $ 0 | 0 | 27 | 0 | ||||||||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2020 | [1] | 42,000,592 | |||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2020 | 3,061 | 213,014 | $ 183,390 | 25,074 | 1,489 | ||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||
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 | 0 | (32,242) | $ (32,242) | 0 | 0 | ||||||||||||||||||||||||||||||||
Redemption of Series B convertible preferred stock | $ (1,470) | $ 0 | 0 | (1,470) | 0 | ||||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 3,034 | 3,034 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interest | 27 | 27 | 0 | 0 | 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 | |||||||||||||||||||||||||||||||||||
Common Stock issued upon acquisition (in shares) | [1] | 47,940,523 | |||||||||||||||||||||||||||||||||||
Common Stock issued upon acquisition | 299,739 | $ 3 | 299,736 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Stock-based compensation expense | 46,475 | 0 | 46,475 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 515 | 238 | 238 | 0 | 515 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Reclassification of earn-out RSUs to earn-out shares | (714) | 0 | (714) | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Repurchase of Common Stock | (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) | (1,974) | (1,974) | 0 | 0 | 0 | (1,974) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Foreign currency translation adjustment | (63) | (63) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 526 | 0 | 0 | 0 | 0 | 526 | |||||||||||||||||||||||||||||||
Reclassification of share-based awards to mezzanine equity | (206) | 0 | 206 | 0 | (206) | 0 | 0 | 0 | 0 | 0 | 206 | ||||||||||||||||||||||||||
Reclassification of common shares to mezzanine equity | 0 | 6,872 | 0 | 6,872 | 0 | ||||||||||||||||||||||||||||||||
Remeasurement of redemption value of common shares | (7,361) | 0 | 7,361 | 0 | 0 | 0 | (7,361) | 0 | 0 | 7,361 | 0 | ||||||||||||||||||||||||||
Remeasurement of redemption value of convertible preferred stock | (32,928) | 0 | 32,928 | 0 | 0 | 0 | (32,928) | 0 | 32,928 | 0 | 0 | ||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 515 | 238 | 238 | $ 0 | 515 | 0 | 0 | 0 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||
Conversion of convertible preferred stock (in shares) | [1] | (42,000,592) | |||||||||||||||||||||||||||||||||||
Conversion of convertible preferred stock | 0 | (216,318) | $ (216,318) | 0 | 0 | ||||||||||||||||||||||||||||||||
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) | $ (1,695) | $ 0 | $ 0 | $ 39,307 | $ 41,152 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (39,307) | $ 0 | $ 0 | $ (1,695) | |||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 1,974 | 1,974 | 1,974 | $ 0 | 0 | $ 0 | 1,974 | 0 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2021 | [1] | 0 | |||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2021 | 5,210 | 5,210 | 5,210 | $ 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 181,821,767 | [2] | 181,821,767 | [1] | 143,564 | ||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | 250,355 | $ 18 | [2] | 625,056 | $ (1,739) | (375,297) | 2,317 | ||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | 713,810 | [2] | 0 | ||||||||||||||||||||||||||||||||||
Proceeds from exercise of options | 1,036 | 0 | [2] | 1,036 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Common Stock issued upon vesting of restricted stock units (in shares) | 92,430 | [2] | 0 | ||||||||||||||||||||||||||||||||||
Common Stock issued upon vesting of restricted stock units | 0 | 0 | [2] | 0 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Stock-based compensation expense | 8,274 | 0 | [2] | 8,274 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Reclassification of earn-out RSUs to earn-out shares | (296) | 0 | [2] | (296) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Repurchase of Common Stock (in shares) | [2] | (135,000) | |||||||||||||||||||||||||||||||||||
Repurchase of Common Stock | (743) | 0 | [2] | 0 | $ (743) | 0 | 0 | ||||||||||||||||||||||||||||||
Repurchase of Common Stock (in shares) | 135,000 | ||||||||||||||||||||||||||||||||||||
Net loss | (11,053) | 0 | [2] | 0 | $ 0 | (11,053) | 0 | ||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 617 | 617 | |||||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (617) | 0 | [2] | 0 | 0 | (617) | 0 | ||||||||||||||||||||||||||||||
Foreign currency translation adjustment | (9) | (9) | |||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | (1,719) | 0 | 0 | 0 | 0 | (1,719) | |||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 617 | 0 | [2] | 0 | $ 0 | 617 | 0 | ||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Mar. 31, 2022 | 5,818 | 5,818 | |||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2022 | 182,493,007 | [2] | 278,564 | ||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2022 | 245,237 | $ 18 | [2] | 634,070 | $ (2,482) | (386,967) | 598 | ||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interest | 617 | 617 | |||||||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2021 | 5,210 | 5,210 | 5,210 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 181,821,767 | [2] | 181,821,767 | [1] | 143,564 | ||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | $ 250,355 | $ 18 | [2] | 625,056 | $ (1,739) | (375,297) | 2,317 | ||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | 1,799,665 | 1,799,665 | [2] | 0 | |||||||||||||||||||||||||||||||||
Proceeds from exercise of options | $ 2,818 | 0 | [2] | 2,818 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Common Stock issued upon vesting of restricted stock units (in shares) | 1,784,993 | [2] | 0 | ||||||||||||||||||||||||||||||||||
Common Stock issued upon vesting of restricted stock units | 0 | 0 | [2] | 0 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Common Stock issued upon acquisition (in shares) | 324,845 | [2] | 0 | ||||||||||||||||||||||||||||||||||
Common Stock issued upon acquisition | 1,517 | 0 | [2] | 1,517 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Common Stock issued for canceled officer awards (in shares) | 3,592,504 | [2] | 0 | ||||||||||||||||||||||||||||||||||
Common Stock issued for canceled officer awards | 0 | 1 | [2] | (1) | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Stock-based compensation expense | 37,210 | 0 | [2] | 37,210 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 0 | 5,794 | 5,794 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Reclassification of earn-out RSUs to earn-out shares | (885) | 0 | [2] | (885) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Repurchase of Common Stock (in shares) | [2] | (4,046,186) | |||||||||||||||||||||||||||||||||||
Repurchase of Common Stock | (19,927) | 0 | [2] | 0 | $ (19,927) | 0 | 0 | ||||||||||||||||||||||||||||||
Repurchase of Common Stock (in shares) | 4,046,186 | ||||||||||||||||||||||||||||||||||||
Net loss | (38,688) | 0 | [2] | 0 | $ 0 | (38,688) | 0 | ||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 2,942 | 2,942 | |||||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (2,942) | 0 | [2] | 0 | 0 | (2,942) | 0 | ||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 61 | 61 | |||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | (311) | 0 | 0 | 0 | 0 | (311) | |||||||||||||||||||||||||||||||
Balance, temporary equity, shares (in shares) at Dec. 31, 2021 | [1] | 0 | |||||||||||||||||||||||||||||||||||
Issuance of redeemable noncontrolling interest in EduTech | 0 | 5,794 | 5,794 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 2,942 | 0 | [2] | 0 | $ 0 | 2,942 | 0 | ||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2022 | 14,007 | 14,007 | 14,007 | ||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2022 | 185,277,588 | [2] | 4,189,750 | ||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2022 | $ 229,147 | 19 | [2] | 665,715 | $ (21,666) | (416,927) | 2,006 | ||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interest | 2,942 | 2,942 | |||||||||||||||||||||||||||||||||||
Proceeds from exercise of options (in shares) | 680,385 | 680,385 | [2] | 0 | |||||||||||||||||||||||||||||||||
Proceeds from exercise of options | $ 1,131 | 0 | [2] | 1,131 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Common Stock issued upon vesting of restricted stock units (in shares) | 1,254,710 | [2] | 0 | ||||||||||||||||||||||||||||||||||
Common Stock issued upon vesting of restricted stock units | 0 | 0 | [2] | 0 | $ 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Stock-based compensation expense | 8,104 | 0 | [2] | 8,104 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Reclassification of earn-out RSUs to earn-out shares | (182) | 0 | [2] | (182) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Repurchase of Common Stock (in shares) | [2] | (424,876) | |||||||||||||||||||||||||||||||||||
Repurchase of Common Stock | (1,811) | 0 | [2] | 0 | $ (1,811) | 0 | 0 | ||||||||||||||||||||||||||||||
Repurchase of Common Stock (in shares) | 424,876 | ||||||||||||||||||||||||||||||||||||
Net loss | (9,182) | 0 | [2] | 0 | (9,182) | 0 | |||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 15 | 15 | |||||||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | (15) | 0 | [2] | 0 | $ 0 | (15) | 0 | ||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 35 | 35 | |||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 49 | 0 | 0 | 0 | 0 | 49 | |||||||||||||||||||||||||||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 15 | 0 | [2] | 0 | $ 0 | 15 | 0 | ||||||||||||||||||||||||||||||
Balance, temporary equity, including noncontrolling interest at Mar. 31, 2023 | 14,057 | 14,057 | 14,057 | ||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2023 | 186,787,807 | [2] | 4,614,626 | ||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2023 | $ 227,241 | $ 19 | [2] | $ 674,768 | $ (23,477) | $ (426,124) | $ 2,055 | ||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interest | $ 15 | $ 15 | |||||||||||||||||||||||||||||||||||
[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.[2]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' Equity (Deficiency) (Parentheticals) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Common Stock [Member] | |||
Business Combination, Share Exchange Ratio | 8.69144 | 8.69144 | 8.69144 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (38,688) | $ (33,245) | $ (16,969) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 3,494 | 1,238 | 1,059 |
Operating lease right-of-use assets expense | 5,945 | 0 | 0 |
Foreign currency remeasurement (gain) loss | 835 | 1,308 | (378) |
Stock-based compensation | 37,218 | 59,508 | 33,767 |
Deferred income taxes | 3,701 | (175) | (433) |
Other | (607) | (755) | 770 |
Change in value of earn-out and warrant liabilities | (4,402) | (21,233) | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (14,388) | (8,243) | (7,133) |
Prepaid expenses and other current assets | (2,108) | (5,914) | 1,204 |
Deferred contract costs and other assets | (9,596) | (8,890) | (5,049) |
Accounts payable, accrued expenses, operating lease liabilities and other liabilities | (2,553) | 10,626 | 971 |
Deferred revenue | 20,375 | 10,805 | 11,311 |
Net cash provided by (used in) operating activities | (774) | 5,030 | 19,120 |
Investing activities | |||
Maturities of investments | 183,554 | 0 | 2,391 |
Purchases of investments | (180,969) | (916) | 0 |
Cash paid in business combinations and asset acquisitions, net of cash acquired | (18,572) | 0 | 0 |
Capitalization of internal-use software | (1,612) | 0 | 0 |
Purchase of property and equipment | (3,853) | (2,461) | (1,023) |
Net cash provided by (used in) investing activities | (21,452) | (3,377) | 1,368 |
Financing activities | |||
Proceeds from recapitalization of Apex shares, net of transaction fees of $49,990 | 0 | 441,573 | 0 |
Redemption of redeemable convertible preferred stock | 0 | (130,925) | (33,712) |
Redemption of Legacy AvePoint Common Stock | 0 | (106,169) | 0 |
Purchase of common stock | (19,927) | (1,628) | 0 |
Payment of net cash settlement for management options | 0 | (7,530) | 0 |
Proceeds from stock option exercises | 2,818 | 5,566 | 612 |
Proceeds from sale of common shares of subsidiary | 0 | 753 | 7,505 |
Repayments of finance leases | (39) | (25) | (49) |
Payments of debt issuance costs | 0 | 0 | (300) |
Proceeds from issuance of Common Stock, net of issuance costs | 0 | 0 | 58,770 |
Collection of promissory note | 0 | 0 | 284 |
Collection of non-recourse promissory note | 0 | 0 | 4,639 |
Payments of transaction fees by Legacy AvePoint | 0 | (2,998) | (2,089) |
Payments of transaction fees | 0 | 0 | (101) |
Net cash (used in) provided by financing activities | (17,148) | 198,617 | 35,559 |
Effect of exchange rates on cash | (1,655) | (1,165) | 903 |
Net increase (decrease) in cash and cash equivalents | (41,029) | 199,105 | 56,950 |
Cash and cash equivalents at beginning of period | 268,217 | 69,112 | 12,162 |
Cash and cash equivalents at end of period | 227,188 | 268,217 | 69,112 |
Supplemental disclosures of cash flow information | |||
Income taxes paid | 3,320 | 4,037 | 1,068 |
Issuance of common shares in exchange for issuance cost | 0 | 0 | 2,408 |
Contingent consideration in business combination | 5,635 | 0 | 0 |
Common Stock issued in business combination | 1,517 | 0 | 0 |
Loan to certain acquiree shareholders | 235 | 0 | 0 |
Property and equipment acquired under capital leases | $ 0 | $ 0 | $ 29 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) $ in Thousands | 12 Months Ended |
Dec. 31, 2021 USD ($) | |
Transaction fees | $ 49,990 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Organization | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Nature of Operations [Text Block] | 1. AvePoint, Inc. (hereinafter referred to as “ AvePoint Company we us our July 24, 2001 2006. AvePoint provides a cloud-native software platform that organizations rely on to optimize operations, manage critical data and secure the digital workplace. As companies around the world embrace the new normal of hybrid work, they must build and deliver a new, seamless workplace experience for knowledge workers, centered around an extensive portfolio of SaaS solutions and productivity applications aimed at improving collaboration across the organization. The adoption of this portfolio of solutions – what has been generally described as the “digital transformation” – is a substantial and ongoing challenge for most organizations, which for decades had previously relied upon only a small number of multi-purpose on-premises applications to drive business outcomes. However, to build and deliver an efficient digital workplace today, companies must address this abundance of applications – and the associated explosive growth and sprawl of data – with a platform offering that is well governed, fit for purpose, easy to use and built on automation. AvePoint’s Confidence Platform empowers organizations – of all sizes, in all regions, and across all industries – to optimize and secure the solutions that most commonly establish and underpin the digital workplace. As our customers seek to rapidly reduce costs, improve productivity and make more informed business decisions, they depend on our platform for data-driven insights, critical business intelligence and ongoing operational value through automation. Our principal corporate headquarters are located in Jersey City, New Jersey, with our principal operating headquarters in Richmond, Virginia and additional offices in North America, Europe, Asia, Australia and the Middle East. | 1. Nature of Business and Organization AvePoint, Inc. was incorporated as a New Jersey corporation on July 24, 2001, 2006. July 1, 2021, AvePoint Company we us our Note 3 AvePoint provides a cloud-native software platform that organizations rely on to optimize operations, manage critical data and secure the digital workplace. As companies around the world embrace the new normal of hybrid work, they must build and deliver a new, seamless workplace experience for knowledge workers, centered around an extensive portfolio of SaaS solutions and productivity applications aimed at improving collaboration across the organization. The adoption of this portfolio of solutions – what has been generally described as the “digital transformation” – is a substantial and ongoing challenge for most organizations, which for decades had previously relied upon only a small number of multi-purpose on-premises applications to drive business outcomes. However, to build and deliver an efficient digital workplace today, companies must address this abundance of applications – and the associated explosive growth and sprawl of data – with a platform offering that is well governed, fit for purpose, easy to use and built on automation. AvePoint’s Confidence Platform empowers organizations – of all sizes, in all regions, and across all industries – to optimize and secure the solutions that most commonly establish and underpin the digital workplace. As our customers seek to rapidly reduce costs, improve productivity and make more informed business decisions, they depend on our platform for data-driven insights, critical business intelligence and ongoing operational value through automation. 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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Significant Accounting Policies [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed consolidated balance sheet as of December 31, 2022, SEC GAAP In the opinion of management, these financial statements contain all material adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Operating results for the three March 31, 2023 not may December 31, 2023 These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements as of December 31, 2022 2021, December 31, 2022 2021, 10 December 31, 2022 March 31, 2023 (“ Annual Report Recently Adopted Accounting Guidance In January 2016, 2016 13, Financial Instruments Credit Losses on Financial Instruments not 2020 02 December 15, 2022. January 1, 2023. not In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 January 1, 2022. not Comparative Data Certain amounts from prior periods have been reclassed to conform to the current period presentation, including: • The reclassification of perpetual license revenue to be included in maintenance revenue on the condensed consolidated statements of operations for the three March 31, 2022; • The reclassification of depreciation and amortization to be included in cost of revenue, sales and marketing, general and administrative and research and development on the condensed consolidated statements of operations for the three March 31, 2022; • The reclassification of operating lease right-of-use assets expense to be separated from depreciation and amortization within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022; • The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022; • The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022. Business Combination When we consummate a business combination, the assets acquired and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the acquisition date fair value of the net identifiable assets acquired. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may one 2022 not not Goodwill Goodwill represents the excess of the fair value of consideration transferred over the fair value of net identifiable assets acquired. We review goodwill for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not first not not no No March 31, 2023 December 31, 2022. Intangible Assets, net Intangible assets primarily consist of customer related assets and acquired software and technology. Typical customer related assets include order backlogs and customer relationships. Intangible assets that have finite useful lives are amortized over their useful lives on a straight-line basis, which range from one ten may may Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our condensed 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 condensed 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 Foreign Currency The Company has foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, Foreign Currency Matters three March 31, 2023 2022, Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers all investments available with original maturities of three not not March 31, 2023 December 31, 2022 Short-Term Investments Short-term investments consist mainly of U.S. treasury bills and certificates of deposit held by financial institutions which have an initial maturity of greater than three one Based on our intentions regarding these investments, we classify substantially all of our investments as available-for-sale. We carry these securities at fair value, and report the unrealized gains and losses, net of taxes, as a component of stockholders’ equity, except for any unrealized losses determined to be related to credit losses, which we record within non-operating income, net in the accompanying condensed consolidated statements of operations. Substantially all of our investments are classified as current based on the nature of the investments and their availability for use in current operations. Prepaid Expenses and Other Current Assets The Company recognizes payments made for services to be received in the near future as prepaid expenses and other current assets. Prepaid expenses and other current assets consist primarily of payments related to insurance premiums, prepaid rent, prepaid subscriptions, and other costs. The prepaid expenses balance as of March 31, 2023 December 31, 2022 Deferred Contract Costs We defer sales commissions earned by our 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 $4.2 million and $3.0 million for the three March 31, 2023 2022, March 31, 2023 December 31, 2022 Revenue Recognition The Company derives revenue from four Three Months Ended March 31, 2023 2022 (in thousands) Revenue: SaaS $ 35,512 $ 26,553 Term license and support 10,904 10,202 Services 9,747 8,925 Maintenance 3,409 4,611 Total revenue $ 59,572 $ 50,291 Term license revenue recognized at point in time was $5.9 million and $6.2 million for the three March 31, 2023 2022, We use judgement in determining the relative standalone selling price (“ SSP In rare cases when the software and the related when-and-if available updates are critical to the combined utility of the software, the Company has determined this to be one Accounts receivable, net is inclusive of accounts receivable, current unbilled receivables and long-term unbilled receivables, net of allowance for doubtful accounts. We record an unbilled receivable when revenue is recognized prior to invoicing. We have a well-established collection history from our direct and indirect sales. We periodically evaluate the collectability of our accounts receivable and provide an allowance for doubtful accounts as necessary, based on the age of the receivable, expected payment ability, and collection experience. As of March 31, 2023 December 31, 2022 not We record deferred revenue in the condensed consolidated balance sheets when cash is collected or invoiced before revenue is earned. Deferred revenue as of March 31, 2023 December 31, 2022 three March 31, 2023 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 revenue costs (in thousands) Balance, December 31, 2022 $ 73,348 $ 101,490 $ 48,553 Balance, March 31, 2023 60,738 99,189 47,794 There were no December 31, 2022 three March 31, 2023 As of March 31, 2023 twelve 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 the Black-Scholes valuation model. The Black-Scholes model requires highly subjective assumptions in order to derive the inputs necessary to calculate the fair value of stock options. To estimate the expected term of stock options, the Company considers the 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 the 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 unrecognized 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 2019 2022 2012 2022 Emerging Growth Company The Company is considered an emerging growth company. Section 102 1 not not 21E 1934, not Recent Accounting Pronouncements Recently issued accounting pronouncements are not | 2. Summary of Significant Accounting Policies 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 subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Recently Adopted Accounting Guidance In February 2016, FASB ASU 2016 02, Leases ASC 2017 13, 2018 10, 2018 11, 2018 20, 2019 01, 2019 10, 2020 02, 2020 05 2021 05 ASC 842 842 January 1, 2022, not 842 ROU The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carry forward its historical assessments of whether a contract contains a lease, lease classification and initial direct costs. The Company elected not 842: not ASC 840 840 12 The adoption of the new standard resulted in the recognition of ROU assets of $13.9 million, net of previously recognized deferred rent balance of $0.6 million and total lease liabilities of $14.5 million, including a current liability of $3.6 million, and corresponding deferred tax assets and liabilities, on the Company’s consolidated balance sheet as of January 1, 2022. no In October 2021, No. 2021 08, ASC 805 ASC 606 December 15, 2022, not January 1, 2022. not In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 January 1, 2022. not Comparative Data Certain amounts from prior periods have been presented separately or have been grouped to conform to the current period presentation, including: ● The reclassification of long-term unbilled receivables to be included in other assets on the consolidated balance sheets as of December 31, 2021; ● The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets on the consolidated statements of cash flows for the years ended December 31, 2021 2020; ● The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other on the consolidated statements of cash flows for the years ended December 31, 2021 2020; ● The payments of transaction fees to be included in proceeds from recapitalization of Apex shares on the consolidated statements of cash flows for the year ended December 31, 2021. Business Combination When we consummate a business combination, the assets acquired, and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the acquisition date fair value of the net identifiable assets acquired. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may one 2022 not not Goodwill Goodwill represents the excess of the fair value of consideration transferred over the fair value of net identifiable assets acquired. We review goodwill for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not first not not no During the year ended December 31, 2022, not December 31, 2021 December 31, 2020. Intangible Assets, net Intangible assets primarily consist of customer related assets and acquired software and technology. Typical customer related assets include order backlogs and customer relationships. Intangible assets that have finite useful lives are amortized over their useful lives on a straight-line basis, which range from one ten may may 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 Foreign Currency The Company has foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, December 31, 2022, December 31, 2021 2020, Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers all investments available with original maturities of three not not December 31, 2022 2021, Short-Term Investments Short-term investments consist mainly of certificates of deposit 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 Prepaid Expenses and other Current Assets The company recognizes payments made for services to be received in the near future as prepaid expenses and other current assets. Prepaid expenses and other current assets consist primarily of payments related to insurance premium, prepaid rent, prepaid subscriptions, and other costs. The prepaid expense balance as of December 31, 2022 December 31, 2021 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. We depreciate computer equipment and software generally over a period of three seven forty five Normal repair and maintenance costs are expensed as incurred. We write off depreciated assets that are no We evaluate long-lived assets, which include leasehold improvements and equipment subject to depreciation and 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 December 31, 2022, 2021, 2020 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 our sales force that are considered to be incremental and recoverable costs of obtaining or renewing 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 December 31, 2022, 2021, 2020. Amortization of deferred contract costs of $13.4 million, $9.5 million, and $10.5 million for the years ended December 31, 2022, 2021, 2020, December 31, 2022 2021, 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. five 985 20 December 31, 2022 2021. 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, 2022 2021 2020 (in thousands) Revenue: SaaS $ 117,180 $ 85,580 $ 52,074 Term license and support 57,214 50,970 38,949 Services 41,283 31,919 34,140 Maintenance 15,868 21,022 23,462 Perpetual license 794 2,418 2,908 Total revenue $ 232,339 $ 191,909 $ 151,533 Term license and perpetual license revenue recognized at point in time was $40.0 million, $39.7 million, and $32.4 million for the years ended December 31, 2022, 2021, 2020, Our sources of revenue mainly include: ● SaaS and term license and support revenue includes revenue from the 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 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 contract. ● Perpetual license revenue is recognized upfront 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. In rare cases when the software and the related when-and-if available updates are critical to the combined utility of the software, the Company has determined this to be one 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 twelve 30 Total deferred revenue as of December 31, 2021, December 31, 2022. The opening and closing balances of the Company’s accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred Deferred (in thousands) 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 Opening (January 1, 2022) $ 61,335 $ 82,332 $ 38,926 Closing (December 31, 2022) 73,348 101,490 48,553 Increase/(decrease) 12,013 19,158 9,627 ( 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 licenses 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 apply 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 renewal 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 is allocated to each performance obligation within a sales arrangement. As of December 31, 2022, 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 the 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 the 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 2018 2021 2012 2021 Redeemable Noncontrolling Interest As of December 31, 2022 2021, EduTech AEPL PTE. LTD. ( AEPL ) As part of AEPL’s investment in EduTech, the Company granted AEPL a put option which allows AEPL to cause the Company to repurchase AEPL’s shares in EduTech at any time between December 24, 2022, December 24, 2023, December 31, 2022 2021, I-Access Solutions Pte. Ltd. ( I-Access ) On February 18, 2022, ( I-Access Closing Date January 31, 2022, ( Share Purchase Agreement December 31, 2022, 3 Emerging Growth Company The Company is considered an emerging growth company. Section 102 1 not not not Recent Accounting Pronouncements In January 2016, 2016 13, not 2020 02 December 15, 2022. not 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 - Goodwill
Note 3 - Goodwill | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Goodwill Disclosure [Text Block] | 3. The changes in the carrying amounts of goodwill were as follows: Goodwill (in thousands) Balance as of December 31, 2022 $ 18,904 Effect of foreign currency translation (33 ) Balance as of March 31, 2023 $ 18,871 | 4. The changes in the carrying amounts of goodwill were as follows: Goodwill (in thousands) Balance as of December 31, 2021 $ — Acquisitions 19,167 Effect of foreign currency translation (263 ) Balance as of December 31, 2022 $ 18,904 |
Note 4 - Intangible Assets, Net
Note 4 - Intangible Assets, Net | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Intangible Assets Disclosure [Text Block] | 4. Intangible assets consist of the acquired intangible assets and the self-developed software. Amortization expense for intangible assets was $0.5 million and $0.1 million for the three March 31, 2023 2022, As of March 31, 2023 Year Ending December 31: (in thousands) 2023 (nine months) $ 1,521 2024 1,961 2025 1,573 2026 1,163 2027 1,136 Thereafter 3,494 Total intangible assets subject to amortization $ 10,848 A summary of the balances of the Company's intangible assets as of March 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average March 31, December 31, Life 2023 2022 (in thousands) (in years) Technology and software, net 7,129 (1,081 ) 6,048 6,842 (777 ) 6,065 6.8 Customer related assets, net 4,466 (294 ) 4,172 4,799 (477 ) 4,322 10.0 Content, net 838 (210 ) 628 830 (138 ) 692 3.0 Total $ 12,433 $ (1,585 ) $ 10,848 $ 12,471 $ (1,392 ) $ 11,079 7.7 | 5. Intangible assets consist of the acquired intangible assets and the self-developed software. Amortization expense for intangible assets was $1.4 million for the year ended December 31, 2022. December 31, 2021. As of December 31, 2022, Year Ending December 31: (in thousands) 2023 $ 1,981 2024 1,869 2025 1,480 2026 1,135 2027 1,132 Thereafter 3,482 Total intangible assets subject to amortization $ 11,079 A summary of the balances of the Company’s intangible assets as of December 31, 2022 2021 Gross Carrying Accumulated Amortization Net Carrying Gross Carrying Accumulated Amortization Net Carrying Weighted December 31, December (in thousands) (in years) Technology and software, net 6,842 (777 ) 6,065 — — — 6.9 Customer related assets, net 4,799 (477 ) 4,322 — — — 9.4 Content, net 830 (138 ) 692 — — — 3.0 Total $ 12,471 $ (1,392 ) $ 11,079 $ — $ — $ — 7.6 |
Note 5 - Concentration of Credi
Note 5 - Concentration of Credit Risk | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Concentration Risk Disclosure [Text Block] | 5. The Company deposits its cash with financial institutions and, at times, such balances may 10% three March 31, 2023 2022 | 6. The Company deposits its cash with financial institutions and, at times, such balances may 10% December 31, 2022, 2021, 2020, 10% December 31, 2022 2021. |
Note 6 - Accounts Receivable, N
Note 6 - Accounts Receivable, Net | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 6. Accounts receivable, net, consists of the following components: March 31, December 31, 2023 2022 (in thousands) Trade receivables $ 35,841 $ 47,046 Current unbilled receivables 21,633 20,153 Allowance for doubtful accounts (847 ) (725 ) $ 56,627 $ 66,474 | 7. Accounts receivable, net, consists of the following components: December 31, 2022 December 31, 2021 (in thousands) Trade receivables $ 47,046 $ 38,819 Current unbilled receivables 20,153 17,086 Allowance for doubtful accounts (725 ) (838 ) $ 66,474 $ 55,067 Long-term unbilled receivables were $6.9 million and $6.3 million as of December 31, 2022 2021, |
Note 7 - Line of Credit
Note 7 - Line of Credit | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | 7. The Company maintains a loan and security agreement with a commercial bank for a revolving line of credit of up to $30.0 million, with an accordion feature that provides up to $20.0 million of additional borrowing capacity the Company may July 7, 2023. March 31, 2023, no | 10. The Company maintains a loan and security agreement with a commercial bank. As lender for a revolving line of credit of up to $30.0 million, with an accordion feature that provides up to $20.0 million of additional borrowing capacity the Company may April 7, 2023. December 31, 2022, no The Company has not December 31, 2022, December 31, 2022, |
Note 8 - Income Taxes
Note 8 - Income Taxes | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | 8. The Company had an effective tax rate of (27.46)% and (2.88)% for the three March 31, 2023 2022 The change in effective tax rates for the three March 31, 2023 three March 31, 2022 no The Company continues to evaluate the realizability of its deferred tax assets on a quarterly basis and will adjust such amounts in light of changing facts and circumstances. In making such an assessment, management would consider all available positive and negative evidence, including the level of historical taxable income, future reversals of existing temporary differences, tax planning strategies, and projected future taxable income. | 11. Pretax loss resulting from domestic and foreign operations is as follows: Year Ended December 31, 2022 2021 2020 (in thousands) Domestic $ (17,081 ) $ (23,583 ) $ (19,107 ) Foreign (16,569 ) (9,205 ) 3,200 Pretax loss from continuing operations $ (33,650 ) $ (32,788 ) $ (15,907 ) The components of the provision (benefit) for income taxes consists of the following: Year Ended December 31, 2022 2021 2020 (in thousands) Current income tax expense: Federal $ 1,937 $ 467 $ — State and local 668 (881 ) 411 Foreign (1,478 ) 1,117 1,096 Total current income tax expense 1,127 703 1,507 Deferred income tax expense (benefit): Federal 2,370 89 (175 ) State and local (820 ) (12 ) (843 ) Foreign 2,361 (323 ) 573 Total deferred income tax expense (benefit) 3,911 (246 ) (445 ) Total income tax expense $ 5,038 $ 457 $ 1,062 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, 2022 2021 2020 (in thousands) U.S. federal statutory tax rate $ (7,067 ) $ (6,886 ) $ (3,340 ) State and local income taxes, net (292 ) (962 ) (519 ) Stock-based compensation (51 ) 10,865 6,770 Executive compensation limitation 3,566 — — Fair value of earnout liability (828 ) (3,946 ) — Transaction costs 125 (2,209 ) — Change in valuation allowance 12,844 3,085 (3,216 ) Foreign rate differential (2,066 ) 440 1,575 Return-to-provision adjustments (1,029 ) (196 ) (538 ) Permanent differences 29 334 65 Other, net (193 ) (68 ) 265 Total $ 5,038 $ 457 $ 1,062 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%, a permanent item recorded for the executive compensation limitation, and changes in valuation allowance in certain foreign jurisdictions. 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, 2022 December 31, 2021 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 13,775 $ 10,716 Deferred revenue 4,301 5,315 Compensation and benefits 6,567 4,384 Research and development expenses 6,169 — Lease liability 3,622 — Foreign tax credits 270 720 Fair value of earnout liability 93 181 Other 457 1,047 35,254 22,363 Less: Valuation allowance (20,808 ) (8,356 ) Deferred tax assets, net 14,446 14,007 Deferred tax liabilities: Property and equipment (197 ) (132 ) Amortization (2,595 ) (214 ) Commissions (8,384 ) (7,918 ) Prepaid subscription (836 ) (822 ) Unbilled receivable (1,489 ) (2,183 ) Right-of-use assets (3,402 ) — Total deferred tax liability (16,903 ) (11,269 ) Net deferred tax (liabilities) assets $ (2,457 ) $ 2,738 Deferred tax assets are included within other assets in the consolidated balance sheets, and deferred tax liabilities are included within other non-current liabilities in the consolidated balance sheets. December 31, 2022 December 31, 2021 (in thousands) Deferred tax assets, net of valuation allowance $ 488 $ 3,182 Deferred tax liabilities (2,945 ) (444 ) Net deferred tax (liabilities) assets $ (2,457 ) $ 2,738 As of December 31, 2022, NOL may 2026. 2024 6 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, 2022, not 382. ASC 740 10 30 5 not not December 31, 2022 2021, not not December 31, 2022, As of December 31, 2022, not not A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties is as follows: December 31, 2022 December 31, 2021 (in thousands) Beginning balance $ 1,088 $ 5,369 Additions based on tax positions related to the current year — — Reduction for tax positions of prior years (12 ) (4,281 ) Reduction for settlements (935 ) — Expiration of applicable statute of limitations — — Ending balance $ 141 $ 1,088 During 2022, The Company recognizes accrued interest and penalties related to unrecognized tax benefits as part of the provision for income taxes. As of December 31, 2022 2021, December 31, 2022, December 31, 2021, not The Company files income tax returns in the U.S. federal jurisdiction, various state and foreign jurisdictions. The tax years 2018 2021 2012 2021 December 31, 2022 December 31, 2021 |
Note 9 - Leases
Note 9 - Leases | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Lessee, Operating Leases [Text Block] | 9. The Company is obligated under various non-cancelable operating leases primarily for office space. The initial terms of the leases expire on various dates through 2030. Leases are classified as either operating or finance leases based on certain criteria. This classification determines the timing and presentation of expenses on the income statement, as well as the presentation of the related cash flows and balance sheet. Operating leases are recorded on the balance sheet beginning January 1, 2022, no ROU assets and related liabilities are recorded at lease commencement based on the present value of the lease payments over the expected lease term. Lease payments include future increases unless the increases are based on changes in an index or rate. As the Company's leases do not The components of the Company's operating lease expenses are reflected in the condensed consolidated statements of income for the three March 31, 2023 2022 Three Months Ended March 31, 2023 2022 (in thousands) Lease liability cost $ 1,749 $ 1,151 Short-term lease expenses (1) 248 814 Variable lease cost not included in the lease liability (2) 110 32 Total lease cost $ 2,107 $ 1,997 ( 1 12 ( 2 Our lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. We elected to combine fixed payments for non-lease components, for all classes of underlying assets, with our lease payments and account for them together as a single lease component which increases the amount of our lease assets and liabilities. During the three March 31, 2023 Other information related to operating leases for the three March 31, 2023 2022, Three Months Ended March 31, 2023 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 2,046 $ 1,354 As of March 31, 2023 As of December 31, 2022, The maturity schedule of the operating lease liabilities as of March 31, 2023 Year Ending December 31: (in thousands) 2023 (nine months) $ 4,789 2024 5,171 2025 3,590 2026 2,499 2027 1,709 Thereafter 1,999 Total future lease payments $ 19,757 Less: Present value adjustment (2,186 ) Present value of future lease payments (1) $ 17,571 ( 1 | 12. The Company is obligated under various non-cancelable operating leases primarily for office space. The initial terms of the leases expire on various dates through 2030. Leases are classified as either operating or finance leases based on certain criteria. This classification determines the timing and presentation of expenses on the income statement, as well as the presentation of the related cash flows and balance sheet. Operating leases are recorded on the balance sheet beginning January 1, 2022, no ROU assets and related liabilities are recorded at lease commencement based on the present value of the lease payments over the expected lease term. Lease payments include future increases unless the increases are based on changes in an index or rate. The rate implicit in the leases was not The components of the Company’s operating lease expense are reflected in the consolidated statements of operations for the year ended December 31, 2022, Year Ended December 31, 2022 (in thousands) Lease liability cost $ 5,945 Short-term lease expenses (1) 1,760 Variable lease cost not included in the lease liability (2) 261 Total lease cost $ 7,966 ( 1 12 ( 2 Our lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. We elected to combine fixed payments for non-lease components, for all classes of underlying assets, with our lease payments and account for them together as a single lease component which increases the amount of our lease assets and liabilities. During the year ended December 31, 2022, Other information related to operating leases for the year ended December 31, 2022, Year Ended December 31, 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 5,626 As of December 31, 2022, The maturity schedule of the operating lease liabilities as of December 31, 2022, Year Ending December 31: (in thousands) 2023 $ 6,104 2024 4,360 2025 2,817 2026 2,159 2027 1,373 Thereafter 1,887 Total future lease payments 18,700 Less: Present value adjustment (1,960 ) Present value of future lease payments (1) $ 16,740 ( 1 During the years ended December 31, 2021 2020, The future minimum rental payments under ASC 840 December 31, 2021, 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 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Commitments Contingencies and Guarantees [Text Block] | 10. Legal Proceedings In the normal course of its business, the Company may March 31, 2023 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 deposit. As of March 31, 2023 not | 13. 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 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 December 31, 2022, 2020 In July 2022, 365 three 2022, 2023, 2024. December 31, 2022, July 2022 In December 2022, three three December 2025. 2023 2025 2025. The Company is obligated to make the following future minimum payments under the non-cancelable terms of these contracts as of December 31, 2022: Years ending December 31, (in thousands) 2023 $ 2,026 2024 2,213 2025 96,000 2026 — 2027 — Thereafter — $ 100,239 Legal Proceedings In the normal course of its business, the Company may December 31, 2022, 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, 2022, not |
Note 11 - Earn-Out and Warrant
Note 11 - Earn-Out and Warrant Liabilities | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Earn-Out and Warrant Liabilities [Text Block] | 11. Company Earn-Out Agreement Certain holders of common stock and certain holders of 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 July 1, 2021 seventh $12.50 20 30 $12.50 • 1,000,000 shares of AvePoint's common stock, in the aggregate, if at any time from July 1, 2021 seventh $15.00 20 30 $15.00 • 1,000,000 shares of AvePoint's common stock, in the aggregate, if at any time from July 1, 2021 seventh $17.50 20 30 $17.50 The rights described above are hereafter referred to as the “ Company Earn-Out Shares Company Earn-Out RSUs 718, Compensation-Stock Compensation 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’ (as defined below) 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 March 31, 2023 December 31, 2022 three March 31, 2023 March 31, 2023 Term (in years) 5.25 Volatility 55.00 % Private Warrants to Acquire Common Stock On July 1, 2021, The private placement warrants are held by only two July 1, 2021, March 31, 2023 December 31, 2022 three March 31, 2023 2022 | 14. 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 Company Earn-Out RSUs 718. Note 16 Stock-Based Compensation 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, 2022 2021, December 31, 2022 2021, December 31, 2022 December 31, 2021 July 1, 2021 Term (in years) 5.50 6.50 7.00 Volatility 55.00 % 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, 2022 2021, December 31, 2022 2021, |
Note 12 - Mezzanine Equity and
Note 12 - Mezzanine Equity and Stockholders' Equity | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Equity [Text Block] | 12. Equity The Company has one Common Stock Pursuant to the Company’s restated Articles of Incorporation, the Company was authorized to issue up to 1,000,000,000 shares of common stock at $0.0001 par value. There were 191,402,433 and 189,467,338 shares issued and outstanding, including treasury shares, at March 31, 2023 December 31, 2022 one not 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 March 31, 2023 Public Warrants to Acquire Common Stock On July 1, 2021, one fifth March 31, 2023 Share Repurchase Program On March 17, 2022, Share Repurchase Program three may not three March 31, 2023 | 15. 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 185,277,588 and 181,821,767 shares issued and outstanding as of December 31, 2022 2021, 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, 2022. Public Warrants to Acquire Common Stock On July 1, 2021, one fifth July 1, 2021, December 31, 2022, Convertible Contingently Redeemable Preferred Stock On July 1, 2021, Note 3 Business Combination December 31, 2021 December 31, 2020, Series C Preferred Stock Preferred Stock 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. Share Repurchase Program On March 17, 2022, Share Repurchase Program three may not December 31, 2022, Redeemable Noncontrolling Interest On December 24, 2020, December 31, 2020, On February 11, 2021, December 24, 2022, December 24, 2023, On February 18, 2022, GMR may On April 15, 2022, no December 31, 2022, At each reporting period, we increase the carrying amount of the redeemable noncontrolling interest by periodic accretions using the interest method so that the carrying amount will equal the redemption amount on the date that the put option becomes exercisable. These adjustments are recorded as net income attributable to and accretion of redeemable noncontrolling interest on the consolidated statements of mezzanine equity and stockholders’ equity (deficiency). The roll forward of the balance of the redeemable noncontrolling interest is as follows: Redeemable noncontrolling interest (in thousands) Beginning balance (December 31, 2021) $ 5,210 Issuance of redeemable noncontrolling interest in EduTech 5,794 Net loss attributable to redeemable noncontrolling interest (401 ) Other comprehensive income attributable to redeemable noncontrolling interest 61 Adjustment to present redemption value as of December 31, 2022 3,343 Ending balance (December 31, 2022) $ 14,007 |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Share-Based Payment Arrangement [Text Block] | 13. The Company previously maintained the 2006 2006 2016 2016 2006 2016 May 27, 2021, 2021 2021 2016 2021 2021 no 2016 2006 March 31, 2023 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: Three Months Ended March 31, 2023 2022 (in thousands) Cost of revenue $ 670 $ 578 Sales and marketing 2,201 2,462 General and administrative 4,382 4,484 Research and development 851 750 Total stock-based compensation $ 8,104 $ 8,274 Stock Options The compensation costs for stock option awards are accounted for in accordance with ASC 718. four tenth On March 13, 2023, 2021 March 13, 2023 Expected life (in years) 6.11 Expected volatility 59.19 % Risk-free rate 3.63 % Dividend yield — To estimate the expected life 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 As of March 31, 2023 As of March 31, 2023 three March 31, 2023 Restricted Stock Units 6,349,464 RSUs were granted under the 2021 three March 31, 2023 718. four March 31, 2023 2021 Company Earn-Out RSUs The compensation costs for Company Earn-Out RSUs are accounted for in accordance with ASC 718. July 1, 2021, four tenth not seventh not | 16. The Company previously maintained the 2006 2006 2016 2016 2006 2016 May 27, 2021, 2021 2021 2016 2021 2021 no 2016 2006 December 31, 2022, 2021 2006 2016 2006 2016 Stock-based compensation was included in the following line items in the consolidated statements of operations: Year Ended December 31, 2022 2021 2020 Cost of revenue $ 2,640 $ 3,477 $ 592 Sales and marketing 11,393 15,906 19,973 General and administrative 19,398 24,063 12,916 Research and development 3,787 16,062 286 Total stock-based compensation $ 37,218 $ 59,508 $ 33,767 Total tax benefit related to vested or exercised awards during the years ended December 31, 2022 2021, 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 2021, 718; no July 1, 2021, July 2022. The Company’s stock option awards granted to certain international employees (the “ Legacy International Options International Options no not July 1, 2021, 718, 2021 one In 2020, Time and Performance Based Options three Time-Based Options Performance-Based 1 Performance-Based II Options four 2021. January 1, 2021. The weighted-average grant date fair value of options granted in the years ended December 31, 2022, 2021, 2020 not zero The Company estimated the grant date fair value of these stock options using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2022 2021 Expected term (in years) 6.11 6.11 Expected volatility 45.18 % 43.31 % Risk-free rate 2.16 % 0.94 % Dividend yield — — A summary of the Company’s stock option activity during the year ended December 31, 2022 Stock Options Weighted-Average Exercise Price Weighted-Average Contractual Life Balance, January 1, 2022 30,480,317 $ 3.87 2.83 Granted 689,406 5.88 — Exercised (1,799,665 ) 1.57 — Forfeited or expired (202,255 ) 4.94 — Balance, December 31, 2022 29,167,803 $ 4.05 6.53 As of December 31, 2022, Outstanding Exercisable Exercise Price Stock Options Weighted-Average Weighted-Average Stock Options Weighted-Average Contractual Life Weighted-Average $0.03 - $1.34 5,964,947 3.68 $ 1.28 5,964,947 3.68 $ 1.28 $1.52 - $1.89 5,795,861 4.98 1.59 5,519,215 4.92 1.59 $3.90 - $9.64 17,406,995 8.01 5.82 7,973,397 7.85 5.17 29,167,803 6.53 $ 4.05 19,457,559 5.74 $ 2.96 As of December 31, 2022, As of December 31, 2022, December 31, 2022, December 31, 2021, Restricted Stock Units In addition to Stock Options granted under the 2006 2016 2021 2021 2022. 718, four tenth A summary of the Company’s RSU activity during the year ended December 31, 2022 Unvested Restricted Stock Number of Weighted- Unvested as of December 31, 2021 5,167,479 $ 9.64 Granted 5,749,764 5.55 Vested (1,784,993 ) 9.42 Forfeited (739,707 ) 7.17 Unvested as of December 31, 2022 8,392,543 $ 7.10 The per share weighted-average grant date fair value of RSUs granted during the years ended December 31, 2022 2021 December 31, 2020. The total fair value of shares vested during the years ended December 31, 2022 2021 December 31, 2020. As of December 31, 2022, 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, 2022 2021, Put and Call Options On December 26, 2019, Modified Common Stock Modified Options Eligible Shares March 25, 2025, April, 2025 ( Settlement Period 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 2019, one The fair values of Modified Options were estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions on July 1, 2021: July 1 2021 Expected term (in years) 4.10 Expected volatility 34.44 % Risk-free rate 0.79 % Dividend yield — As of December 31, 2021, December 31, 2021 2020, During the years ended December 31, 2021 2020, 2020, 2021 2020, six 2021 2020, six July 1, 2021, December 31, 2021 December 31, 2020, 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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Financial Instruments Disclosure [Text Block] | 14. Fair value is defined by ASC 820, Fair Value Measurement ASC 820 820 three three • Level 1 • Level 2 1 • Level 3 March 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,707 $ — $ 1,707 Money funds (2) — 190,734 — 190,734 Short term investments: Certificates of deposit (1) — 2,879 — 2,879 Total $ — $ 195,320 $ — $ 195,320 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,922 $ 6,922 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,922 $ 7,149 December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,693 $ — $ 1,693 Money funds (2) — 188,769 — 188,769 Short term investments: Certificates of deposit (1) — 2,620 — 2,620 Other assets: Certificates of deposit (1) — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,631 $ 6,631 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 ( 1 ( 2 three March 31, 2023 2022 ( 3 Note 11 The following table presents the reconciliation in Level 3 three March 31, 2023 Three Months Ended March 31, 2023 (in thousands) Opening balance $ 6,631 Total gains or losses from the period Included in earnings 109 Reclass from Earnout-RSU 182 Closing balance $ 6,922 | 17. Fair value is defined by ASC 820, 820 820 three three ■ Level 1 ■ Level 2 1 ■ Level 3 Year Ended December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit $ — $ 1,693 $ — $ 1,693 Money funds — 188,769 — 188,769 Short term investments: Certificates of deposit — 2,620 — 2,620 Other assets: Certificates of deposit — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares (2) $ — $ — $ 6,631 $ 6,631 Warrant liabilities (2) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 Year Ended December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: U.S. treasury bills (1) $ — $ 199,999 $ — $ 199,999 Certificates of deposit — 1,433 — 1,433 Short term investments: Certificates of deposit — 2,411 — 2,411 Other assets: Certificates of deposit — 285 — 285 Total $ — $ 204,128 $ — $ 204,128 Liabilities: Earn-out shares (2) $ — $ — $ 10,012 $ 10,012 Warrant liabilities (2) — 458 — 458 Total $ — $ 458 $ 10,012 $ 10,470 ( 1 December 31, 2022 2021, ( 2 July 1, 2021, 3. 2. 14 The following table presents the reconciliation in Level 3 December 31, 2022. Year Ended December 31, 2022 (in thousands) Opening balance $ 10,012 Total gains or losses from the period Included in earnings (4,165 ) Reclass from Earnout-RSU 784 Closing balance $ 6,631 |
Note 15 - Segment Information
Note 15 - Segment Information | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Segment Reporting Disclosure [Text Block] | 15. The Company operates in one CODM not Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. No 10% three March 31, 2023 2022 Three Months Ended March 31, 2023 2022 (in thousands) Revenue: North America $ 24,436 $ 21,709 EMEA 19,488 15,342 APAC 15,648 13,240 Total revenue $ 59,572 $ 50,291 The following table sets forth revenue generated from customers by country and represent more than 10% Three Months Ended March 31, 2023 2022 (in thousands) Revenue: United States $ 23,518 21,709 Germany 8,655 5,971 Singapore 6,437 4,200 Japan 5,375 5,895 | 18. The Company operates in one segment. Its products and services are sold throughout the world, through direct and indirect sales channels. The Company’s chief operating decision maker (the “ CODM not Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. No 10% December 31, 2022, 2021, 2020. Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: North America $ 102,025 $ 83,034 $ 67,823 EMEA 71,635 58,285 42,441 APAC 58,679 50,590 41,269 Total revenue $ 232,339 $ 191,909 $ 151,533 The following table sets forth revenue generated from customers by country, which represents more than 10% Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: United States $ 100,870 $ 83,034 $ 67,823 Germany 30,625 23,574 17,650 Japan 21,348 23,360 17,331 Singapore 21,915 16,580 15,376 The following table sets forth property and equipment, net held within the United States, China and foreign countries: December 31, December 31, 2022 2021 (in thousands) Property and equipment, net: United States $ 1,279 $ 923 China 2,982 2,376 Other 1,276 623 Total property and equipment, net $ 5,537 $ 3,922 |
Note 16 - Loss Per Share
Note 16 - Loss Per Share | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Earnings Per Share [Text Block] | 16. Basic loss per share available to AvePoint common shareholders (“ EPS two Note 12 no no Three Months Ended March 31, 2023 2022 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (9,182 ) $ (11,053 ) Net income attributable to redeemable noncontrolling interest (15 ) (617 ) Net loss attributable to AvePoint, Inc. $ (9,197 ) $ (11,670 ) Total net loss available to common shareholders $ (9,197 ) $ (11,670 ) Denominator: Weighted average common shares outstanding 182,818 182,833 Effect of dilutive securities — — Weighted average diluted shares 182,818 182,833 Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.05 ) $ (0.06 ) To arrive at net loss available to common shareholders, the Company deducted net income attributable to the redeemable noncontrolling interest. For the three March 31, 2023 2022 The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported: March 31, 2023 2022 (in thousands) Stock options 29,437 30,437 Restricted stock units 13,246 9,369 Warrants 17,905 17,905 Company Earn-Outs 3,000 3,000 Total potentially dilutive securities 63,588 60,711 | 19. Basic loss per share available to the Company’s common shareholders (“ EPS two Note 15 Mezzanine Equity and Stockholders Equity (Deficiency) no no Year Ended December 31, 2022 2021 2020 (in thousands, except per share amounts) Loss per share available to common stockholders, excluding sponsor earn-out stockholders Numerator: Net loss $ (38,688 ) $ (33,245 ) $ (16,969 ) Net income attributable to redeemable noncontrolling interest (2,942 ) (1,974 ) (27 ) Net loss attributable to AvePoint, Inc. $ (41,630 ) $ (35,219 ) $ (16,996 ) Deemed dividends on preferred stock — (32,928 ) (34,446 ) Total net loss available to common stockholders $ (41,630 ) $ (68,147 ) $ (51,442 ) Denominator: Weighted average common shares outstanding 181,957 141,596 89,638 Effect of dilutive securities — — — Weighted average diluted shares 181,957 141,596 89,638 Basic and diluted loss per share available to common stockholders, excluding sponsor earn-out stockholders $ (0.23 ) $ (0.48 ) $ (0.57 ) To arrive at net loss available to common stockholders, 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, 2022, 2021, 2020, The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported: Year Ended December 31, 2022 2021 2020 (in thousands) Convertible preferred stock — — 42,001 Stock options 29,168 30,480 34,857 Restricted stock units 8,493 5,167 — Warrants 17,905 17,905 — Company Earn-Outs 3,000 3,000 — Total potentially dilutive securities 58,566 56,552 76,858 |
Note 17 - Related Party Transac
Note 17 - Related Party Transactions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
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 | 20. 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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | 18. No | 21. The following material subsequent events occurred since the date of the most recent balance sheet period reported. Stock-Based Compensation On March 13, 2023, 205 In conjunction with the business combination between Apex and Legacy AvePoint, Apex issued a proxy statement on June 2, 2021, Charter Proposal June 30, 2021, one not July 1, 2021. A recent decision of the Delaware Court of Chancery has created uncertainty as to whether Section 242 2 March 2, 2023, In response to the Petition, the Court of Chancery granted an order on March 17, 2023 ( ● “The Charter, including the filing and effectiveness thereof, is hereby validated and declared effective retroactive to the date of its filing with the Office of the Secretary of State of the State of Delaware on July 1, 2021, ● “The Company’s securities (and the issuance of the securities) described in the Petition and any other securities issued in reliance on the validity of the Charter are hereby validated and declared effective as of the original date of issuance of such securities.” The Court’s granting of the Order has addressed and eliminated the uncertainty created by the Boxed Decision. |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Organization | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Nature of Operations [Text Block] | 1. AvePoint, Inc. (hereinafter referred to as “ AvePoint Company we us our July 24, 2001 2006. AvePoint provides a cloud-native software platform that organizations rely on to optimize operations, manage critical data and secure the digital workplace. As companies around the world embrace the new normal of hybrid work, they must build and deliver a new, seamless workplace experience for knowledge workers, centered around an extensive portfolio of SaaS solutions and productivity applications aimed at improving collaboration across the organization. The adoption of this portfolio of solutions – what has been generally described as the “digital transformation” – is a substantial and ongoing challenge for most organizations, which for decades had previously relied upon only a small number of multi-purpose on-premises applications to drive business outcomes. However, to build and deliver an efficient digital workplace today, companies must address this abundance of applications – and the associated explosive growth and sprawl of data – with a platform offering that is well governed, fit for purpose, easy to use and built on automation. AvePoint’s Confidence Platform empowers organizations – of all sizes, in all regions, and across all industries – to optimize and secure the solutions that most commonly establish and underpin the digital workplace. As our customers seek to rapidly reduce costs, improve productivity and make more informed business decisions, they depend on our platform for data-driven insights, critical business intelligence and ongoing operational value through automation. Our principal corporate headquarters are located in Jersey City, New Jersey, with our principal operating headquarters in Richmond, Virginia and additional offices in North America, Europe, Asia, Australia and the Middle East. | 1. Nature of Business and Organization AvePoint, Inc. was incorporated as a New Jersey corporation on July 24, 2001, 2006. July 1, 2021, AvePoint Company we us our Note 3 AvePoint provides a cloud-native software platform that organizations rely on to optimize operations, manage critical data and secure the digital workplace. As companies around the world embrace the new normal of hybrid work, they must build and deliver a new, seamless workplace experience for knowledge workers, centered around an extensive portfolio of SaaS solutions and productivity applications aimed at improving collaboration across the organization. The adoption of this portfolio of solutions – what has been generally described as the “digital transformation” – is a substantial and ongoing challenge for most organizations, which for decades had previously relied upon only a small number of multi-purpose on-premises applications to drive business outcomes. However, to build and deliver an efficient digital workplace today, companies must address this abundance of applications – and the associated explosive growth and sprawl of data – with a platform offering that is well governed, fit for purpose, easy to use and built on automation. AvePoint’s Confidence Platform empowers organizations – of all sizes, in all regions, and across all industries – to optimize and secure the solutions that most commonly establish and underpin the digital workplace. As our customers seek to rapidly reduce costs, improve productivity and make more informed business decisions, they depend on our platform for data-driven insights, critical business intelligence and ongoing operational value through automation. 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 Significa_2
Note 2 - Summary of Significant Accounting Policies (10K) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Significant Accounting Policies [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed consolidated balance sheet as of December 31, 2022, SEC GAAP In the opinion of management, these financial statements contain all material adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Operating results for the three March 31, 2023 not may December 31, 2023 These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements as of December 31, 2022 2021, December 31, 2022 2021, 10 December 31, 2022 March 31, 2023 (“ Annual Report Recently Adopted Accounting Guidance In January 2016, 2016 13, Financial Instruments Credit Losses on Financial Instruments not 2020 02 December 15, 2022. January 1, 2023. not In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 January 1, 2022. not Comparative Data Certain amounts from prior periods have been reclassed to conform to the current period presentation, including: • The reclassification of perpetual license revenue to be included in maintenance revenue on the condensed consolidated statements of operations for the three March 31, 2022; • The reclassification of depreciation and amortization to be included in cost of revenue, sales and marketing, general and administrative and research and development on the condensed consolidated statements of operations for the three March 31, 2022; • The reclassification of operating lease right-of-use assets expense to be separated from depreciation and amortization within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022; • The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022; • The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022. Business Combination When we consummate a business combination, the assets acquired and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the acquisition date fair value of the net identifiable assets acquired. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may one 2022 not not Goodwill Goodwill represents the excess of the fair value of consideration transferred over the fair value of net identifiable assets acquired. We review goodwill for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not first not not no No March 31, 2023 December 31, 2022. Intangible Assets, net Intangible assets primarily consist of customer related assets and acquired software and technology. Typical customer related assets include order backlogs and customer relationships. Intangible assets that have finite useful lives are amortized over their useful lives on a straight-line basis, which range from one ten may may Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our condensed 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 condensed 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 Foreign Currency The Company has foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, Foreign Currency Matters three March 31, 2023 2022, Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers all investments available with original maturities of three not not March 31, 2023 December 31, 2022 Short-Term Investments Short-term investments consist mainly of U.S. treasury bills and certificates of deposit held by financial institutions which have an initial maturity of greater than three one Based on our intentions regarding these investments, we classify substantially all of our investments as available-for-sale. We carry these securities at fair value, and report the unrealized gains and losses, net of taxes, as a component of stockholders’ equity, except for any unrealized losses determined to be related to credit losses, which we record within non-operating income, net in the accompanying condensed consolidated statements of operations. Substantially all of our investments are classified as current based on the nature of the investments and their availability for use in current operations. Prepaid Expenses and Other Current Assets The Company recognizes payments made for services to be received in the near future as prepaid expenses and other current assets. Prepaid expenses and other current assets consist primarily of payments related to insurance premiums, prepaid rent, prepaid subscriptions, and other costs. The prepaid expenses balance as of March 31, 2023 December 31, 2022 Deferred Contract Costs We defer sales commissions earned by our 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 $4.2 million and $3.0 million for the three March 31, 2023 2022, March 31, 2023 December 31, 2022 Revenue Recognition The Company derives revenue from four Three Months Ended March 31, 2023 2022 (in thousands) Revenue: SaaS $ 35,512 $ 26,553 Term license and support 10,904 10,202 Services 9,747 8,925 Maintenance 3,409 4,611 Total revenue $ 59,572 $ 50,291 Term license revenue recognized at point in time was $5.9 million and $6.2 million for the three March 31, 2023 2022, We use judgement in determining the relative standalone selling price (“ SSP In rare cases when the software and the related when-and-if available updates are critical to the combined utility of the software, the Company has determined this to be one Accounts receivable, net is inclusive of accounts receivable, current unbilled receivables and long-term unbilled receivables, net of allowance for doubtful accounts. We record an unbilled receivable when revenue is recognized prior to invoicing. We have a well-established collection history from our direct and indirect sales. We periodically evaluate the collectability of our accounts receivable and provide an allowance for doubtful accounts as necessary, based on the age of the receivable, expected payment ability, and collection experience. As of March 31, 2023 December 31, 2022 not We record deferred revenue in the condensed consolidated balance sheets when cash is collected or invoiced before revenue is earned. Deferred revenue as of March 31, 2023 December 31, 2022 three March 31, 2023 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 revenue costs (in thousands) Balance, December 31, 2022 $ 73,348 $ 101,490 $ 48,553 Balance, March 31, 2023 60,738 99,189 47,794 There were no December 31, 2022 three March 31, 2023 As of March 31, 2023 twelve 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 the Black-Scholes valuation model. The Black-Scholes model requires highly subjective assumptions in order to derive the inputs necessary to calculate the fair value of stock options. To estimate the expected term of stock options, the Company considers the 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 the 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 unrecognized 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 2019 2022 2012 2022 Emerging Growth Company The Company is considered an emerging growth company. Section 102 1 not not 21E 1934, not Recent Accounting Pronouncements Recently issued accounting pronouncements are not | 2. Summary of Significant Accounting Policies 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 subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Recently Adopted Accounting Guidance In February 2016, FASB ASU 2016 02, Leases ASC 2017 13, 2018 10, 2018 11, 2018 20, 2019 01, 2019 10, 2020 02, 2020 05 2021 05 ASC 842 842 January 1, 2022, not 842 ROU The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carry forward its historical assessments of whether a contract contains a lease, lease classification and initial direct costs. The Company elected not 842: not ASC 840 840 12 The adoption of the new standard resulted in the recognition of ROU assets of $13.9 million, net of previously recognized deferred rent balance of $0.6 million and total lease liabilities of $14.5 million, including a current liability of $3.6 million, and corresponding deferred tax assets and liabilities, on the Company’s consolidated balance sheet as of January 1, 2022. no In October 2021, No. 2021 08, ASC 805 ASC 606 December 15, 2022, not January 1, 2022. not In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 January 1, 2022. not Comparative Data Certain amounts from prior periods have been presented separately or have been grouped to conform to the current period presentation, including: ● The reclassification of long-term unbilled receivables to be included in other assets on the consolidated balance sheets as of December 31, 2021; ● The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets on the consolidated statements of cash flows for the years ended December 31, 2021 2020; ● The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other on the consolidated statements of cash flows for the years ended December 31, 2021 2020; ● The payments of transaction fees to be included in proceeds from recapitalization of Apex shares on the consolidated statements of cash flows for the year ended December 31, 2021. Business Combination When we consummate a business combination, the assets acquired, and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the acquisition date fair value of the net identifiable assets acquired. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may one 2022 not not Goodwill Goodwill represents the excess of the fair value of consideration transferred over the fair value of net identifiable assets acquired. We review goodwill for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not first not not no During the year ended December 31, 2022, not December 31, 2021 December 31, 2020. Intangible Assets, net Intangible assets primarily consist of customer related assets and acquired software and technology. Typical customer related assets include order backlogs and customer relationships. Intangible assets that have finite useful lives are amortized over their useful lives on a straight-line basis, which range from one ten may may 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 Foreign Currency The Company has foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, December 31, 2022, December 31, 2021 2020, Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers all investments available with original maturities of three not not December 31, 2022 2021, Short-Term Investments Short-term investments consist mainly of certificates of deposit 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 Prepaid Expenses and other Current Assets The company recognizes payments made for services to be received in the near future as prepaid expenses and other current assets. Prepaid expenses and other current assets consist primarily of payments related to insurance premium, prepaid rent, prepaid subscriptions, and other costs. The prepaid expense balance as of December 31, 2022 December 31, 2021 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. We depreciate computer equipment and software generally over a period of three seven forty five Normal repair and maintenance costs are expensed as incurred. We write off depreciated assets that are no We evaluate long-lived assets, which include leasehold improvements and equipment subject to depreciation and 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 December 31, 2022, 2021, 2020 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 our sales force that are considered to be incremental and recoverable costs of obtaining or renewing 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 December 31, 2022, 2021, 2020. Amortization of deferred contract costs of $13.4 million, $9.5 million, and $10.5 million for the years ended December 31, 2022, 2021, 2020, December 31, 2022 2021, 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. five 985 20 December 31, 2022 2021. 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, 2022 2021 2020 (in thousands) Revenue: SaaS $ 117,180 $ 85,580 $ 52,074 Term license and support 57,214 50,970 38,949 Services 41,283 31,919 34,140 Maintenance 15,868 21,022 23,462 Perpetual license 794 2,418 2,908 Total revenue $ 232,339 $ 191,909 $ 151,533 Term license and perpetual license revenue recognized at point in time was $40.0 million, $39.7 million, and $32.4 million for the years ended December 31, 2022, 2021, 2020, Our sources of revenue mainly include: ● SaaS and term license and support revenue includes revenue from the 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 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 contract. ● Perpetual license revenue is recognized upfront 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. In rare cases when the software and the related when-and-if available updates are critical to the combined utility of the software, the Company has determined this to be one 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 twelve 30 Total deferred revenue as of December 31, 2021, December 31, 2022. The opening and closing balances of the Company’s accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred Deferred (in thousands) 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 Opening (January 1, 2022) $ 61,335 $ 82,332 $ 38,926 Closing (December 31, 2022) 73,348 101,490 48,553 Increase/(decrease) 12,013 19,158 9,627 ( 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 licenses 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 apply 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 renewal 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 is allocated to each performance obligation within a sales arrangement. As of December 31, 2022, 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 the 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 the 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 2018 2021 2012 2021 Redeemable Noncontrolling Interest As of December 31, 2022 2021, EduTech AEPL PTE. LTD. ( AEPL ) As part of AEPL’s investment in EduTech, the Company granted AEPL a put option which allows AEPL to cause the Company to repurchase AEPL’s shares in EduTech at any time between December 24, 2022, December 24, 2023, December 31, 2022 2021, I-Access Solutions Pte. Ltd. ( I-Access ) On February 18, 2022, ( I-Access Closing Date January 31, 2022, ( Share Purchase Agreement December 31, 2022, 3 Emerging Growth Company The Company is considered an emerging growth company. Section 102 1 not not not Recent Accounting Pronouncements In January 2016, 2016 13, not 2020 02 December 15, 2022. not 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, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. Business Combination Apex Technology Acquisition Corporation On November 23, 2020, Legacy AvePoint July 1, 2021, July 26, 2021, ( Business Combination Apex The Business Combination was accounted for as a reverse recapitalization as Legacy AvePoint was determined to be the accounting acquirer under ASC 805. no 8.6914. 8.69144 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 international employees) 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 certain international employees 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 16 Stock-Based Compensation Note 16 Stock-Based Compensation ● Put options on Legacy AvePoint Modified Options and Modified Common Stock, as defined in “ Note 16 Stock-Based Compensation Note 16 Stock-Based Compensation ● We entered into earn-out agreements to issue additional shares if certain share price milestones are achieved. Refer to “ Note 14 Company Earn-Out and Warrant Liabilities ● We assumed public and private placement warrants from Apex. Refer to “ Note 14 Company Earn-Out and Warrant Liabilities 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 our 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 our common stock; and ● 17,905,000 warrants, each exercisable for one 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. I-Access Acquisition On the I-Access Closing Date, EduTech consummated its acquisition of all of the ordinary shares of I-Access. As a result, I-Access became a wholly-owned subsidiary of EduTech. The acquisition was made pursuant to the Share Purchase Agreement, by and among EduTech and the former I-Access shareholders. The Company, through its subsidiary EduTech, completed the acquisition of I-Access to further expand its SaaS solutions for corporate learning and development. The fair value of the transaction consideration totaled approximately $7.1 million, consisting of: $1.5 million in cash, and contingent consideration measured at a fair value of $5.6 million on the I-Access Closing date. The above-mentioned contingent consideration consists of: (i) 2.98% of EduTech common shares (of those, 292,440 shares were issued on the I-Access Closing Date and 30,252 shares were held in escrow pending distribution pursuant to the Adjustment for Guaranteed Minimum Revenue (as defined below)); (ii) a put option which allows sellers to cause EduTech to repurchase the shares of EduTech for approximately $5.9 million, upon 24 months from Acquisition Close Date or the occurrence of certain triggering events which are in the control of the Company; and (iii) earnout in EduTech shares held in escrow at a fair value equal to revenue surplus above the agreed guaranteed minimum revenue amount, of up to approximately $0.7 million, or the return of EduTech shares at a fair value equal to the revenue shortfall below the agreed guaranteed minimum revenue amount, of up to approximately $0.7 million (together, the “ Adjustment for Guaranteed Minimum Revenue On April 15, 2022, no The acquisition-related costs totaled $0.3 million and are recognized as an expense within general and administrative in the consolidated statements of operations. Prior to being reclassified to mezzanine equity, the contingent consideration was liability classified and was measured at fair value on the I-Access Closing Date and remeasured on the date the Adjustment for Guaranteed Minimum Revenue was cancelled. The fair value of the contingent consideration was estimated using a combination of multiple valuation methods, including discounted cash flows method, guideline public company method, and the Black-Scholes option-pricing model with the following weighted-average assumptions as of February 18, 2022, April 15, 2022: February 18, 2022 April 15, 2022 Expected life (in years) 2.08 1.93 Expected volatility 50 % 50 % Risk-free rate 1.23 % 1.83 % Dividend 0 % 0 % The contingent consideration fair value estimated on the I-Access Closing Date and the date the Adjustment for Guaranteed Minimum Revenue was cancelled was $5.6 million and $5.8 million, respectively. During the year ended December 31, 2022, 805 740, The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: Preliminary Allocation (in thousands) Accounts receivable, net $ 429 Prepaid expenses and other current assets 72 Property and equipment 22 Goodwill 3,950 Technology and software 2,750 Customer related assets 909 Other assets 997 Accrued expenses and other liabilities (718 ) Current portion of deferred revenue (230 ) Other non-current liabilities (1,072 ) Total purchase consideration $ 7,109 The goodwill, which is generally not not Intangible assets primarily relate to acquired technology and software and customer related assets. The acquired definite-lived intangible assets are being amortized over an estimated useful life of: (i) 10 years for technology and software on a straight-line basis; and (ii) 1 to 10 years for customer related assets on a straight-line basis. The estimated fair values of identifiable intangible assets were determined using the relief from royalty method which is based on the premise that the only value that a purchaser of the assets receives is the exemption from paying a royalty for its use over its remaining useful life. Some of the significant assumptions inherent in the development of such asset valuations include revenues, royalty rate, contributory asset charges, discount rate, useful life, as well as other factors. The fair value of intangible assets as of December 31, 2022, Essential Acquisition On August 25, 2022, not tyGraph Companies Acquisition On September 12, 2022, tyGraph US AvePoint Ontario tyGraph Canada tyGraph Companies September 12, 2022, (i) the cash purchase price of $13.5 million; (ii) the entire outstanding principal and interest of the loans made to certain tyGraph Companies shareholders which was approximately $0.2 million; and (iii) unpaid transaction costs incurred by the tyGraph Companies as of the open of business on the closing date which was approximately $0.1 million. The acquisition-related costs incurred by the Company totaled $0.4 million and are recognized as an expense within general and administrative in the consolidated statements of operations. The financial results of the tyGraph Companies have been included in our consolidated financial statements since the date of the acquisitions. The tyGraph Companies businesses are reported within our reportable segment. In accordance with ASC 805 740, The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: Preliminary Allocation (in thousands) Accounts receivable, net $ 449 Prepaid expenses and other current assets 262 Property and equipment 30 Goodwill 12,193 Customer related assets 3,868 Technology and software 2,552 Other assets 219 Accounts payable (93 ) Accrued expenses and other liabilities (342 ) Current portion of deferred revenue (2,079 ) Other non-current liabilities (1,724 ) Total purchase consideration $ 15,335 The goodwill, which is generally not not Intangible assets primarily relate to acquired technology and software and customer related assets. The acquired definite-lived intangible assets are being amortized over an estimated useful life of: (i) 6 years for technology and software on a straight-line basis; and (ii) 10 years for customer related assets on a straight-line basis. The estimated fair values of identifiable intangible assets were determined using the relief from royalty method which is based on the premise that the only value that a purchaser of the assets receives is the exemption from paying a royalty for its use over its remaining useful life. Some of the significant assumptions inherent in the development of such asset valuations include revenues, royalty rate, contributory asset charges, discount rate, useful life, as well as other factors. The fair value of intangible assets as of December 31, 2022, |
Note 4 - Goodwill
Note 4 - Goodwill | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Goodwill Disclosure [Text Block] | 3. The changes in the carrying amounts of goodwill were as follows: Goodwill (in thousands) Balance as of December 31, 2022 $ 18,904 Effect of foreign currency translation (33 ) Balance as of March 31, 2023 $ 18,871 | 4. The changes in the carrying amounts of goodwill were as follows: Goodwill (in thousands) Balance as of December 31, 2021 $ — Acquisitions 19,167 Effect of foreign currency translation (263 ) Balance as of December 31, 2022 $ 18,904 |
Note 5 - Intangible Assets, Net
Note 5 - Intangible Assets, Net | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Intangible Assets Disclosure [Text Block] | 4. Intangible assets consist of the acquired intangible assets and the self-developed software. Amortization expense for intangible assets was $0.5 million and $0.1 million for the three March 31, 2023 2022, As of March 31, 2023 Year Ending December 31: (in thousands) 2023 (nine months) $ 1,521 2024 1,961 2025 1,573 2026 1,163 2027 1,136 Thereafter 3,494 Total intangible assets subject to amortization $ 10,848 A summary of the balances of the Company's intangible assets as of March 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average March 31, December 31, Life 2023 2022 (in thousands) (in years) Technology and software, net 7,129 (1,081 ) 6,048 6,842 (777 ) 6,065 6.8 Customer related assets, net 4,466 (294 ) 4,172 4,799 (477 ) 4,322 10.0 Content, net 838 (210 ) 628 830 (138 ) 692 3.0 Total $ 12,433 $ (1,585 ) $ 10,848 $ 12,471 $ (1,392 ) $ 11,079 7.7 | 5. Intangible assets consist of the acquired intangible assets and the self-developed software. Amortization expense for intangible assets was $1.4 million for the year ended December 31, 2022. December 31, 2021. As of December 31, 2022, Year Ending December 31: (in thousands) 2023 $ 1,981 2024 1,869 2025 1,480 2026 1,135 2027 1,132 Thereafter 3,482 Total intangible assets subject to amortization $ 11,079 A summary of the balances of the Company’s intangible assets as of December 31, 2022 2021 Gross Carrying Accumulated Amortization Net Carrying Gross Carrying Accumulated Amortization Net Carrying Weighted December 31, December (in thousands) (in years) Technology and software, net 6,842 (777 ) 6,065 — — — 6.9 Customer related assets, net 4,799 (477 ) 4,322 — — — 9.4 Content, net 830 (138 ) 692 — — — 3.0 Total $ 12,471 $ (1,392 ) $ 11,079 $ — $ — $ — 7.6 |
Note 6 - Concentration of Credi
Note 6 - Concentration of Credit Risk | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Concentration Risk Disclosure [Text Block] | 5. The Company deposits its cash with financial institutions and, at times, such balances may 10% three March 31, 2023 2022 | 6. The Company deposits its cash with financial institutions and, at times, such balances may 10% December 31, 2022, 2021, 2020, 10% December 31, 2022 2021. |
Note 7 - Accounts Receivable, N
Note 7 - Accounts Receivable, Net | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 6. Accounts receivable, net, consists of the following components: March 31, December 31, 2023 2022 (in thousands) Trade receivables $ 35,841 $ 47,046 Current unbilled receivables 21,633 20,153 Allowance for doubtful accounts (847 ) (725 ) $ 56,627 $ 66,474 | 7. Accounts receivable, net, consists of the following components: December 31, 2022 December 31, 2021 (in thousands) Trade receivables $ 47,046 $ 38,819 Current unbilled receivables 20,153 17,086 Allowance for doubtful accounts (725 ) (838 ) $ 66,474 $ 55,067 Long-term unbilled receivables were $6.9 million and $6.3 million as of December 31, 2022 2021, |
Note 8 - Property and Equipment
Note 8 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 8. Property and equipment, net, consists of the following: December 31, 2022 December 31, 2021 (in thousands) Computer equipment $ 6,079 $ 5,777 Leasehold improvements 3,823 2,769 Furniture and fixtures 1,316 1,102 Building 725 786 Office equipment 493 394 Software 347 378 12,783 11,206 Less accumulated depreciation and amortization (7,246 ) (7,284 ) $ 5,537 $ 3,922 Depreciation and amortization expense was $2.1 million, $1.2 million, and $1.1 million for the years ended December 31, 2022, 2021, 2020, |
Note 9 - Accrued Expenses and O
Note 9 - Accrued Expenses and Other Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 9. Accrued expenses and other liabilities consists of the following components: December 31, 2022 December 31, 2021 (in thousands) Accrued compensation $ 26,585 $ 22,740 Current operating lease liabilities 5,392 — Indirect taxes 3,638 3,945 Cloud service fees 2,285 1,314 Professional service fees 1,464 1,033 Accrued partner expenses 1,445 903 Income taxes payable 1,055 1,197 Other 5,920 3,930 $ 47,784 $ 35,062 |
Note 10 - Line of Credit
Note 10 - Line of Credit | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | 7. The Company maintains a loan and security agreement with a commercial bank for a revolving line of credit of up to $30.0 million, with an accordion feature that provides up to $20.0 million of additional borrowing capacity the Company may July 7, 2023. March 31, 2023, no | 10. The Company maintains a loan and security agreement with a commercial bank. As lender for a revolving line of credit of up to $30.0 million, with an accordion feature that provides up to $20.0 million of additional borrowing capacity the Company may April 7, 2023. December 31, 2022, no The Company has not December 31, 2022, December 31, 2022, |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | 8. The Company had an effective tax rate of (27.46)% and (2.88)% for the three March 31, 2023 2022 The change in effective tax rates for the three March 31, 2023 three March 31, 2022 no The Company continues to evaluate the realizability of its deferred tax assets on a quarterly basis and will adjust such amounts in light of changing facts and circumstances. In making such an assessment, management would consider all available positive and negative evidence, including the level of historical taxable income, future reversals of existing temporary differences, tax planning strategies, and projected future taxable income. | 11. Pretax loss resulting from domestic and foreign operations is as follows: Year Ended December 31, 2022 2021 2020 (in thousands) Domestic $ (17,081 ) $ (23,583 ) $ (19,107 ) Foreign (16,569 ) (9,205 ) 3,200 Pretax loss from continuing operations $ (33,650 ) $ (32,788 ) $ (15,907 ) The components of the provision (benefit) for income taxes consists of the following: Year Ended December 31, 2022 2021 2020 (in thousands) Current income tax expense: Federal $ 1,937 $ 467 $ — State and local 668 (881 ) 411 Foreign (1,478 ) 1,117 1,096 Total current income tax expense 1,127 703 1,507 Deferred income tax expense (benefit): Federal 2,370 89 (175 ) State and local (820 ) (12 ) (843 ) Foreign 2,361 (323 ) 573 Total deferred income tax expense (benefit) 3,911 (246 ) (445 ) Total income tax expense $ 5,038 $ 457 $ 1,062 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, 2022 2021 2020 (in thousands) U.S. federal statutory tax rate $ (7,067 ) $ (6,886 ) $ (3,340 ) State and local income taxes, net (292 ) (962 ) (519 ) Stock-based compensation (51 ) 10,865 6,770 Executive compensation limitation 3,566 — — Fair value of earnout liability (828 ) (3,946 ) — Transaction costs 125 (2,209 ) — Change in valuation allowance 12,844 3,085 (3,216 ) Foreign rate differential (2,066 ) 440 1,575 Return-to-provision adjustments (1,029 ) (196 ) (538 ) Permanent differences 29 334 65 Other, net (193 ) (68 ) 265 Total $ 5,038 $ 457 $ 1,062 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%, a permanent item recorded for the executive compensation limitation, and changes in valuation allowance in certain foreign jurisdictions. 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, 2022 December 31, 2021 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 13,775 $ 10,716 Deferred revenue 4,301 5,315 Compensation and benefits 6,567 4,384 Research and development expenses 6,169 — Lease liability 3,622 — Foreign tax credits 270 720 Fair value of earnout liability 93 181 Other 457 1,047 35,254 22,363 Less: Valuation allowance (20,808 ) (8,356 ) Deferred tax assets, net 14,446 14,007 Deferred tax liabilities: Property and equipment (197 ) (132 ) Amortization (2,595 ) (214 ) Commissions (8,384 ) (7,918 ) Prepaid subscription (836 ) (822 ) Unbilled receivable (1,489 ) (2,183 ) Right-of-use assets (3,402 ) — Total deferred tax liability (16,903 ) (11,269 ) Net deferred tax (liabilities) assets $ (2,457 ) $ 2,738 Deferred tax assets are included within other assets in the consolidated balance sheets, and deferred tax liabilities are included within other non-current liabilities in the consolidated balance sheets. December 31, 2022 December 31, 2021 (in thousands) Deferred tax assets, net of valuation allowance $ 488 $ 3,182 Deferred tax liabilities (2,945 ) (444 ) Net deferred tax (liabilities) assets $ (2,457 ) $ 2,738 As of December 31, 2022, NOL may 2026. 2024 6 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, 2022, not 382. ASC 740 10 30 5 not not December 31, 2022 2021, not not December 31, 2022, As of December 31, 2022, not not A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties is as follows: December 31, 2022 December 31, 2021 (in thousands) Beginning balance $ 1,088 $ 5,369 Additions based on tax positions related to the current year — — Reduction for tax positions of prior years (12 ) (4,281 ) Reduction for settlements (935 ) — Expiration of applicable statute of limitations — — Ending balance $ 141 $ 1,088 During 2022, The Company recognizes accrued interest and penalties related to unrecognized tax benefits as part of the provision for income taxes. As of December 31, 2022 2021, December 31, 2022, December 31, 2021, not The Company files income tax returns in the U.S. federal jurisdiction, various state and foreign jurisdictions. The tax years 2018 2021 2012 2021 December 31, 2022 December 31, 2021 |
Note 12 - Leases
Note 12 - Leases | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Lessee, Operating Leases [Text Block] | 9. The Company is obligated under various non-cancelable operating leases primarily for office space. The initial terms of the leases expire on various dates through 2030. Leases are classified as either operating or finance leases based on certain criteria. This classification determines the timing and presentation of expenses on the income statement, as well as the presentation of the related cash flows and balance sheet. Operating leases are recorded on the balance sheet beginning January 1, 2022, no ROU assets and related liabilities are recorded at lease commencement based on the present value of the lease payments over the expected lease term. Lease payments include future increases unless the increases are based on changes in an index or rate. As the Company's leases do not The components of the Company's operating lease expenses are reflected in the condensed consolidated statements of income for the three March 31, 2023 2022 Three Months Ended March 31, 2023 2022 (in thousands) Lease liability cost $ 1,749 $ 1,151 Short-term lease expenses (1) 248 814 Variable lease cost not included in the lease liability (2) 110 32 Total lease cost $ 2,107 $ 1,997 ( 1 12 ( 2 Our lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. We elected to combine fixed payments for non-lease components, for all classes of underlying assets, with our lease payments and account for them together as a single lease component which increases the amount of our lease assets and liabilities. During the three March 31, 2023 Other information related to operating leases for the three March 31, 2023 2022, Three Months Ended March 31, 2023 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 2,046 $ 1,354 As of March 31, 2023 As of December 31, 2022, The maturity schedule of the operating lease liabilities as of March 31, 2023 Year Ending December 31: (in thousands) 2023 (nine months) $ 4,789 2024 5,171 2025 3,590 2026 2,499 2027 1,709 Thereafter 1,999 Total future lease payments $ 19,757 Less: Present value adjustment (2,186 ) Present value of future lease payments (1) $ 17,571 ( 1 | 12. The Company is obligated under various non-cancelable operating leases primarily for office space. The initial terms of the leases expire on various dates through 2030. Leases are classified as either operating or finance leases based on certain criteria. This classification determines the timing and presentation of expenses on the income statement, as well as the presentation of the related cash flows and balance sheet. Operating leases are recorded on the balance sheet beginning January 1, 2022, no ROU assets and related liabilities are recorded at lease commencement based on the present value of the lease payments over the expected lease term. Lease payments include future increases unless the increases are based on changes in an index or rate. The rate implicit in the leases was not The components of the Company’s operating lease expense are reflected in the consolidated statements of operations for the year ended December 31, 2022, Year Ended December 31, 2022 (in thousands) Lease liability cost $ 5,945 Short-term lease expenses (1) 1,760 Variable lease cost not included in the lease liability (2) 261 Total lease cost $ 7,966 ( 1 12 ( 2 Our lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. We elected to combine fixed payments for non-lease components, for all classes of underlying assets, with our lease payments and account for them together as a single lease component which increases the amount of our lease assets and liabilities. During the year ended December 31, 2022, Other information related to operating leases for the year ended December 31, 2022, Year Ended December 31, 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 5,626 As of December 31, 2022, The maturity schedule of the operating lease liabilities as of December 31, 2022, Year Ending December 31: (in thousands) 2023 $ 6,104 2024 4,360 2025 2,817 2026 2,159 2027 1,373 Thereafter 1,887 Total future lease payments 18,700 Less: Present value adjustment (1,960 ) Present value of future lease payments (1) $ 16,740 ( 1 During the years ended December 31, 2021 2020, The future minimum rental payments under ASC 840 December 31, 2021, 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 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Commitments Contingencies and Guarantees [Text Block] | 10. Legal Proceedings In the normal course of its business, the Company may March 31, 2023 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 deposit. As of March 31, 2023 not | 13. 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 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 December 31, 2022, 2020 In July 2022, 365 three 2022, 2023, 2024. December 31, 2022, July 2022 In December 2022, three three December 2025. 2023 2025 2025. The Company is obligated to make the following future minimum payments under the non-cancelable terms of these contracts as of December 31, 2022: Years ending December 31, (in thousands) 2023 $ 2,026 2024 2,213 2025 96,000 2026 — 2027 — Thereafter — $ 100,239 Legal Proceedings In the normal course of its business, the Company may December 31, 2022, 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, 2022, not |
Note 14 - Company Earn-Out and
Note 14 - Company Earn-Out and Warrant Liabilities | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Earn-Out and Warrant Liabilities [Text Block] | 11. Company Earn-Out Agreement Certain holders of common stock and certain holders of 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 July 1, 2021 seventh $12.50 20 30 $12.50 • 1,000,000 shares of AvePoint's common stock, in the aggregate, if at any time from July 1, 2021 seventh $15.00 20 30 $15.00 • 1,000,000 shares of AvePoint's common stock, in the aggregate, if at any time from July 1, 2021 seventh $17.50 20 30 $17.50 The rights described above are hereafter referred to as the “ Company Earn-Out Shares Company Earn-Out RSUs 718, Compensation-Stock Compensation 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’ (as defined below) 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 March 31, 2023 December 31, 2022 three March 31, 2023 March 31, 2023 Term (in years) 5.25 Volatility 55.00 % Private Warrants to Acquire Common Stock On July 1, 2021, The private placement warrants are held by only two July 1, 2021, March 31, 2023 December 31, 2022 three March 31, 2023 2022 | 14. 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 Company Earn-Out RSUs 718. Note 16 Stock-Based Compensation 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, 2022 2021, December 31, 2022 2021, December 31, 2022 December 31, 2021 July 1, 2021 Term (in years) 5.50 6.50 7.00 Volatility 55.00 % 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, 2022 2021, December 31, 2022 2021, |
Note 15 - Mezzanine Equity and
Note 15 - Mezzanine Equity and Stockholders' Equity (Deficiency) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Equity [Text Block] | 12. Equity The Company has one Common Stock Pursuant to the Company’s restated Articles of Incorporation, the Company was authorized to issue up to 1,000,000,000 shares of common stock at $0.0001 par value. There were 191,402,433 and 189,467,338 shares issued and outstanding, including treasury shares, at March 31, 2023 December 31, 2022 one not 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 March 31, 2023 Public Warrants to Acquire Common Stock On July 1, 2021, one fifth March 31, 2023 Share Repurchase Program On March 17, 2022, Share Repurchase Program three may not three March 31, 2023 | 15. 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 185,277,588 and 181,821,767 shares issued and outstanding as of December 31, 2022 2021, 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, 2022. Public Warrants to Acquire Common Stock On July 1, 2021, one fifth July 1, 2021, December 31, 2022, Convertible Contingently Redeemable Preferred Stock On July 1, 2021, Note 3 Business Combination December 31, 2021 December 31, 2020, Series C Preferred Stock Preferred Stock 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. Share Repurchase Program On March 17, 2022, Share Repurchase Program three may not December 31, 2022, Redeemable Noncontrolling Interest On December 24, 2020, December 31, 2020, On February 11, 2021, December 24, 2022, December 24, 2023, On February 18, 2022, GMR may On April 15, 2022, no December 31, 2022, At each reporting period, we increase the carrying amount of the redeemable noncontrolling interest by periodic accretions using the interest method so that the carrying amount will equal the redemption amount on the date that the put option becomes exercisable. These adjustments are recorded as net income attributable to and accretion of redeemable noncontrolling interest on the consolidated statements of mezzanine equity and stockholders’ equity (deficiency). The roll forward of the balance of the redeemable noncontrolling interest is as follows: Redeemable noncontrolling interest (in thousands) Beginning balance (December 31, 2021) $ 5,210 Issuance of redeemable noncontrolling interest in EduTech 5,794 Net loss attributable to redeemable noncontrolling interest (401 ) Other comprehensive income attributable to redeemable noncontrolling interest 61 Adjustment to present redemption value as of December 31, 2022 3,343 Ending balance (December 31, 2022) $ 14,007 |
Note 16 - Stock-based Compensat
Note 16 - Stock-based Compensation | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Share-Based Payment Arrangement [Text Block] | 13. The Company previously maintained the 2006 2006 2016 2016 2006 2016 May 27, 2021, 2021 2021 2016 2021 2021 no 2016 2006 March 31, 2023 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: Three Months Ended March 31, 2023 2022 (in thousands) Cost of revenue $ 670 $ 578 Sales and marketing 2,201 2,462 General and administrative 4,382 4,484 Research and development 851 750 Total stock-based compensation $ 8,104 $ 8,274 Stock Options The compensation costs for stock option awards are accounted for in accordance with ASC 718. four tenth On March 13, 2023, 2021 March 13, 2023 Expected life (in years) 6.11 Expected volatility 59.19 % Risk-free rate 3.63 % Dividend yield — To estimate the expected life 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 As of March 31, 2023 As of March 31, 2023 three March 31, 2023 Restricted Stock Units 6,349,464 RSUs were granted under the 2021 three March 31, 2023 718. four March 31, 2023 2021 Company Earn-Out RSUs The compensation costs for Company Earn-Out RSUs are accounted for in accordance with ASC 718. July 1, 2021, four tenth not seventh not | 16. The Company previously maintained the 2006 2006 2016 2016 2006 2016 May 27, 2021, 2021 2021 2016 2021 2021 no 2016 2006 December 31, 2022, 2021 2006 2016 2006 2016 Stock-based compensation was included in the following line items in the consolidated statements of operations: Year Ended December 31, 2022 2021 2020 Cost of revenue $ 2,640 $ 3,477 $ 592 Sales and marketing 11,393 15,906 19,973 General and administrative 19,398 24,063 12,916 Research and development 3,787 16,062 286 Total stock-based compensation $ 37,218 $ 59,508 $ 33,767 Total tax benefit related to vested or exercised awards during the years ended December 31, 2022 2021, 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 2021, 718; no July 1, 2021, July 2022. The Company’s stock option awards granted to certain international employees (the “ Legacy International Options International Options no not July 1, 2021, 718, 2021 one In 2020, Time and Performance Based Options three Time-Based Options Performance-Based 1 Performance-Based II Options four 2021. January 1, 2021. The weighted-average grant date fair value of options granted in the years ended December 31, 2022, 2021, 2020 not zero The Company estimated the grant date fair value of these stock options using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2022 2021 Expected term (in years) 6.11 6.11 Expected volatility 45.18 % 43.31 % Risk-free rate 2.16 % 0.94 % Dividend yield — — A summary of the Company’s stock option activity during the year ended December 31, 2022 Stock Options Weighted-Average Exercise Price Weighted-Average Contractual Life Balance, January 1, 2022 30,480,317 $ 3.87 2.83 Granted 689,406 5.88 — Exercised (1,799,665 ) 1.57 — Forfeited or expired (202,255 ) 4.94 — Balance, December 31, 2022 29,167,803 $ 4.05 6.53 As of December 31, 2022, Outstanding Exercisable Exercise Price Stock Options Weighted-Average Weighted-Average Stock Options Weighted-Average Contractual Life Weighted-Average $0.03 - $1.34 5,964,947 3.68 $ 1.28 5,964,947 3.68 $ 1.28 $1.52 - $1.89 5,795,861 4.98 1.59 5,519,215 4.92 1.59 $3.90 - $9.64 17,406,995 8.01 5.82 7,973,397 7.85 5.17 29,167,803 6.53 $ 4.05 19,457,559 5.74 $ 2.96 As of December 31, 2022, As of December 31, 2022, December 31, 2022, December 31, 2021, Restricted Stock Units In addition to Stock Options granted under the 2006 2016 2021 2021 2022. 718, four tenth A summary of the Company’s RSU activity during the year ended December 31, 2022 Unvested Restricted Stock Number of Weighted- Unvested as of December 31, 2021 5,167,479 $ 9.64 Granted 5,749,764 5.55 Vested (1,784,993 ) 9.42 Forfeited (739,707 ) 7.17 Unvested as of December 31, 2022 8,392,543 $ 7.10 The per share weighted-average grant date fair value of RSUs granted during the years ended December 31, 2022 2021 December 31, 2020. The total fair value of shares vested during the years ended December 31, 2022 2021 December 31, 2020. As of December 31, 2022, 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, 2022 2021, Put and Call Options On December 26, 2019, Modified Common Stock Modified Options Eligible Shares March 25, 2025, April, 2025 ( Settlement Period 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 2019, one The fair values of Modified Options were estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions on July 1, 2021: July 1 2021 Expected term (in years) 4.10 Expected volatility 34.44 % Risk-free rate 0.79 % Dividend yield — As of December 31, 2021, December 31, 2021 2020, During the years ended December 31, 2021 2020, 2020, 2021 2020, six 2021 2020, six July 1, 2021, December 31, 2021 December 31, 2020, 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 17 - Financial Instruments
Note 17 - Financial Instruments | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Financial Instruments Disclosure [Text Block] | 14. Fair value is defined by ASC 820, Fair Value Measurement ASC 820 820 three three • Level 1 • Level 2 1 • Level 3 March 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,707 $ — $ 1,707 Money funds (2) — 190,734 — 190,734 Short term investments: Certificates of deposit (1) — 2,879 — 2,879 Total $ — $ 195,320 $ — $ 195,320 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,922 $ 6,922 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,922 $ 7,149 December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,693 $ — $ 1,693 Money funds (2) — 188,769 — 188,769 Short term investments: Certificates of deposit (1) — 2,620 — 2,620 Other assets: Certificates of deposit (1) — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,631 $ 6,631 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 ( 1 ( 2 three March 31, 2023 2022 ( 3 Note 11 The following table presents the reconciliation in Level 3 three March 31, 2023 Three Months Ended March 31, 2023 (in thousands) Opening balance $ 6,631 Total gains or losses from the period Included in earnings 109 Reclass from Earnout-RSU 182 Closing balance $ 6,922 | 17. Fair value is defined by ASC 820, 820 820 three three ■ Level 1 ■ Level 2 1 ■ Level 3 Year Ended December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit $ — $ 1,693 $ — $ 1,693 Money funds — 188,769 — 188,769 Short term investments: Certificates of deposit — 2,620 — 2,620 Other assets: Certificates of deposit — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares (2) $ — $ — $ 6,631 $ 6,631 Warrant liabilities (2) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 Year Ended December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: U.S. treasury bills (1) $ — $ 199,999 $ — $ 199,999 Certificates of deposit — 1,433 — 1,433 Short term investments: Certificates of deposit — 2,411 — 2,411 Other assets: Certificates of deposit — 285 — 285 Total $ — $ 204,128 $ — $ 204,128 Liabilities: Earn-out shares (2) $ — $ — $ 10,012 $ 10,012 Warrant liabilities (2) — 458 — 458 Total $ — $ 458 $ 10,012 $ 10,470 ( 1 December 31, 2022 2021, ( 2 July 1, 2021, 3. 2. 14 The following table presents the reconciliation in Level 3 December 31, 2022. Year Ended December 31, 2022 (in thousands) Opening balance $ 10,012 Total gains or losses from the period Included in earnings (4,165 ) Reclass from Earnout-RSU 784 Closing balance $ 6,631 |
Note 18 - Segment Information
Note 18 - Segment Information | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Segment Reporting Disclosure [Text Block] | 15. The Company operates in one CODM not Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. No 10% three March 31, 2023 2022 Three Months Ended March 31, 2023 2022 (in thousands) Revenue: North America $ 24,436 $ 21,709 EMEA 19,488 15,342 APAC 15,648 13,240 Total revenue $ 59,572 $ 50,291 The following table sets forth revenue generated from customers by country and represent more than 10% Three Months Ended March 31, 2023 2022 (in thousands) Revenue: United States $ 23,518 21,709 Germany 8,655 5,971 Singapore 6,437 4,200 Japan 5,375 5,895 | 18. The Company operates in one segment. Its products and services are sold throughout the world, through direct and indirect sales channels. The Company’s chief operating decision maker (the “ CODM not Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. No 10% December 31, 2022, 2021, 2020. Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: North America $ 102,025 $ 83,034 $ 67,823 EMEA 71,635 58,285 42,441 APAC 58,679 50,590 41,269 Total revenue $ 232,339 $ 191,909 $ 151,533 The following table sets forth revenue generated from customers by country, which represents more than 10% Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: United States $ 100,870 $ 83,034 $ 67,823 Germany 30,625 23,574 17,650 Japan 21,348 23,360 17,331 Singapore 21,915 16,580 15,376 The following table sets forth property and equipment, net held within the United States, China and foreign countries: December 31, December 31, 2022 2021 (in thousands) Property and equipment, net: United States $ 1,279 $ 923 China 2,982 2,376 Other 1,276 623 Total property and equipment, net $ 5,537 $ 3,922 |
Note 19 - Loss Per Share
Note 19 - Loss Per Share | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Earnings Per Share [Text Block] | 16. Basic loss per share available to AvePoint common shareholders (“ EPS two Note 12 no no Three Months Ended March 31, 2023 2022 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (9,182 ) $ (11,053 ) Net income attributable to redeemable noncontrolling interest (15 ) (617 ) Net loss attributable to AvePoint, Inc. $ (9,197 ) $ (11,670 ) Total net loss available to common shareholders $ (9,197 ) $ (11,670 ) Denominator: Weighted average common shares outstanding 182,818 182,833 Effect of dilutive securities — — Weighted average diluted shares 182,818 182,833 Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.05 ) $ (0.06 ) To arrive at net loss available to common shareholders, the Company deducted net income attributable to the redeemable noncontrolling interest. For the three March 31, 2023 2022 The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported: March 31, 2023 2022 (in thousands) Stock options 29,437 30,437 Restricted stock units 13,246 9,369 Warrants 17,905 17,905 Company Earn-Outs 3,000 3,000 Total potentially dilutive securities 63,588 60,711 | 19. Basic loss per share available to the Company’s common shareholders (“ EPS two Note 15 Mezzanine Equity and Stockholders Equity (Deficiency) no no Year Ended December 31, 2022 2021 2020 (in thousands, except per share amounts) Loss per share available to common stockholders, excluding sponsor earn-out stockholders Numerator: Net loss $ (38,688 ) $ (33,245 ) $ (16,969 ) Net income attributable to redeemable noncontrolling interest (2,942 ) (1,974 ) (27 ) Net loss attributable to AvePoint, Inc. $ (41,630 ) $ (35,219 ) $ (16,996 ) Deemed dividends on preferred stock — (32,928 ) (34,446 ) Total net loss available to common stockholders $ (41,630 ) $ (68,147 ) $ (51,442 ) Denominator: Weighted average common shares outstanding 181,957 141,596 89,638 Effect of dilutive securities — — — Weighted average diluted shares 181,957 141,596 89,638 Basic and diluted loss per share available to common stockholders, excluding sponsor earn-out stockholders $ (0.23 ) $ (0.48 ) $ (0.57 ) To arrive at net loss available to common stockholders, 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, 2022, 2021, 2020, The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported: Year Ended December 31, 2022 2021 2020 (in thousands) Convertible preferred stock — — 42,001 Stock options 29,168 30,480 34,857 Restricted stock units 8,493 5,167 — Warrants 17,905 17,905 — Company Earn-Outs 3,000 3,000 — Total potentially dilutive securities 58,566 56,552 76,858 |
Note 20 - Related Party Transac
Note 20 - Related Party Transactions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
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 | 20. 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 21 - Subsequent Events
Note 21 - Subsequent Events | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | 18. No | 21. The following material subsequent events occurred since the date of the most recent balance sheet period reported. Stock-Based Compensation On March 13, 2023, 205 In conjunction with the business combination between Apex and Legacy AvePoint, Apex issued a proxy statement on June 2, 2021, Charter Proposal June 30, 2021, one not July 1, 2021. A recent decision of the Delaware Court of Chancery has created uncertainty as to whether Section 242 2 March 2, 2023, In response to the Petition, the Court of Chancery granted an order on March 17, 2023 ( ● “The Charter, including the filing and effectiveness thereof, is hereby validated and declared effective retroactive to the date of its filing with the Office of the Secretary of State of the State of Delaware on July 1, 2021, ● “The Company’s securities (and the issuance of the securities) described in the Petition and any other securities issued in reliance on the validity of the Charter are hereby validated and declared effective as of the original date of issuance of such securities.” The Court’s granting of the Order has addressed and eliminated the uncertainty created by the Boxed Decision. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Accounting Policies [Abstract] | ||
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated balance sheet as of December 31, 2022, SEC GAAP In the opinion of management, these financial statements contain all material adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Operating results for the three March 31, 2023 not may December 31, 2023 These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements as of December 31, 2022 2021, December 31, 2022 2021, 10 December 31, 2022 March 31, 2023 (“ Annual Report | |
Recently Adopted Accounting Guidance [Policy Text Block] | Recently Adopted Accounting Guidance In January 2016, 2016 13, Financial Instruments Credit Losses on Financial Instruments not 2020 02 December 15, 2022. January 1, 2023. not In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 January 1, 2022. not | Recently Adopted Accounting Guidance In February 2016, FASB ASU 2016 02, Leases ASC 2017 13, 2018 10, 2018 11, 2018 20, 2019 01, 2019 10, 2020 02, 2020 05 2021 05 ASC 842 842 January 1, 2022, not 842 ROU The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carry forward its historical assessments of whether a contract contains a lease, lease classification and initial direct costs. The Company elected not 842: not ASC 840 840 12 The adoption of the new standard resulted in the recognition of ROU assets of $13.9 million, net of previously recognized deferred rent balance of $0.6 million and total lease liabilities of $14.5 million, including a current liability of $3.6 million, and corresponding deferred tax assets and liabilities, on the Company’s consolidated balance sheet as of January 1, 2022. no In October 2021, No. 2021 08, ASC 805 ASC 606 December 15, 2022, not January 1, 2022. not In August 2020, 2020 06, 470 20 815 40 2020 06” 2020 06 January 1, 2022. not |
Reclassification, Comparability Adjustment [Policy Text Block] | Comparative Data Certain amounts from prior periods have been reclassed to conform to the current period presentation, including: • The reclassification of perpetual license revenue to be included in maintenance revenue on the condensed consolidated statements of operations for the three March 31, 2022; • The reclassification of depreciation and amortization to be included in cost of revenue, sales and marketing, general and administrative and research and development on the condensed consolidated statements of operations for the three March 31, 2022; • The reclassification of operating lease right-of-use assets expense to be separated from depreciation and amortization within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022; • The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022; • The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other within net cash provided by (used in) operating activities on the condensed consolidated statements of cash flows for the three March 31, 2022. | Comparative Data Certain amounts from prior periods have been presented separately or have been grouped to conform to the current period presentation, including: ● The reclassification of long-term unbilled receivables to be included in other assets on the consolidated balance sheets as of December 31, 2021; ● The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets on the consolidated statements of cash flows for the years ended December 31, 2021 2020; ● The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other on the consolidated statements of cash flows for the years ended December 31, 2021 2020; ● The payments of transaction fees to be included in proceeds from recapitalization of Apex shares on the consolidated statements of cash flows for the year ended December 31, 2021. |
Business Combinations Policy [Policy Text Block] | Business Combination When we consummate a business combination, the assets acquired and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the acquisition date fair value of the net identifiable assets acquired. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may one 2022 not not | Business Combination When we consummate a business combination, the assets acquired, and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the acquisition date fair value of the net identifiable assets acquired. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may one 2022 not not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the fair value of consideration transferred over the fair value of net identifiable assets acquired. We review goodwill for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not first not not no No March 31, 2023 December 31, 2022. | Goodwill Goodwill represents the excess of the fair value of consideration transferred over the fair value of net identifiable assets acquired. We review goodwill for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not first not not no During the year ended December 31, 2022, not December 31, 2021 December 31, 2020. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets, net Intangible assets primarily consist of customer related assets and acquired software and technology. Typical customer related assets include order backlogs and customer relationships. Intangible assets that have finite useful lives are amortized over their useful lives on a straight-line basis, which range from one ten may may | Intangible Assets, net Intangible assets primarily consist of customer related assets and acquired software and technology. Typical customer related assets include order backlogs and customer relationships. Intangible assets that have finite useful lives are amortized over their useful lives on a straight-line basis, which range from one ten may may |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our condensed 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 condensed 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 | 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 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The Company has foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, Foreign Currency Matters three March 31, 2023 2022, | Foreign Currency The Company has foreign operations where the functional currency has been determined to be the local currency, in accordance with FASB ASC 830, December 31, 2022, December 31, 2021 2020, |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers all investments available with original maturities of three not not March 31, 2023 December 31, 2022 | Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers all investments available with original maturities of three not not December 31, 2022 2021, |
Investment, Policy [Policy Text Block] | Short-Term Investments Short-term investments consist mainly of U.S. treasury bills and certificates of deposit held by financial institutions which have an initial maturity of greater than three one Based on our intentions regarding these investments, we classify substantially all of our investments as available-for-sale. We carry these securities at fair value, and report the unrealized gains and losses, net of taxes, as a component of stockholders’ equity, except for any unrealized losses determined to be related to credit losses, which we record within non-operating income, net in the accompanying condensed consolidated statements of operations. Substantially all of our investments are classified as current based on the nature of the investments and their availability for use in current operations. | Short-Term Investments Short-term investments consist mainly of certificates of deposit held by financial institutions which have an initial maturity of greater than three one |
Prepaid Expenses and Other Assets [Policy Text Block] | Prepaid Expenses and Other Current Assets The Company recognizes payments made for services to be received in the near future as prepaid expenses and other current assets. Prepaid expenses and other current assets consist primarily of payments related to insurance premiums, prepaid rent, prepaid subscriptions, and other costs. The prepaid expenses balance as of March 31, 2023 December 31, 2022 | Prepaid Expenses and other Current Assets The company recognizes payments made for services to be received in the near future as prepaid expenses and other current assets. Prepaid expenses and other current assets consist primarily of payments related to insurance premium, prepaid rent, prepaid subscriptions, and other costs. The prepaid expense balance as of December 31, 2022 December 31, 2021 |
Deferred Charges, Policy [Policy Text Block] | Deferred Contract Costs We defer sales commissions earned by our 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 $4.2 million and $3.0 million for the three March 31, 2023 2022, March 31, 2023 December 31, 2022 | Deferred Contract Costs We defer sales commissions earned by our sales force that are considered to be incremental and recoverable costs of obtaining or renewing 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 December 31, 2022, 2021, 2020. Amortization of deferred contract costs of $13.4 million, $9.5 million, and $10.5 million for the years ended December 31, 2022, 2021, 2020, December 31, 2022 2021, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company derives revenue from four Three Months Ended March 31, 2023 2022 (in thousands) Revenue: SaaS $ 35,512 $ 26,553 Term license and support 10,904 10,202 Services 9,747 8,925 Maintenance 3,409 4,611 Total revenue $ 59,572 $ 50,291 Term license revenue recognized at point in time was $5.9 million and $6.2 million for the three March 31, 2023 2022, We use judgement in determining the relative standalone selling price (“ SSP In rare cases when the software and the related when-and-if available updates are critical to the combined utility of the software, the Company has determined this to be one Accounts receivable, net is inclusive of accounts receivable, current unbilled receivables and long-term unbilled receivables, net of allowance for doubtful accounts. We record an unbilled receivable when revenue is recognized prior to invoicing. We have a well-established collection history from our direct and indirect sales. We periodically evaluate the collectability of our accounts receivable and provide an allowance for doubtful accounts as necessary, based on the age of the receivable, expected payment ability, and collection experience. As of March 31, 2023 December 31, 2022 not We record deferred revenue in the condensed consolidated balance sheets when cash is collected or invoiced before revenue is earned. Deferred revenue as of March 31, 2023 December 31, 2022 three March 31, 2023 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 revenue costs (in thousands) Balance, December 31, 2022 $ 73,348 $ 101,490 $ 48,553 Balance, March 31, 2023 60,738 99,189 47,794 There were no December 31, 2022 three March 31, 2023 As of March 31, 2023 twelve | Revenue Recognition We derive revenue from four The following table presents our revenue by source: For the Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: SaaS $ 117,180 $ 85,580 $ 52,074 Term license and support 57,214 50,970 38,949 Services 41,283 31,919 34,140 Maintenance 15,868 21,022 23,462 Perpetual license 794 2,418 2,908 Total revenue $ 232,339 $ 191,909 $ 151,533 Term license and perpetual license revenue recognized at point in time was $40.0 million, $39.7 million, and $32.4 million for the years ended December 31, 2022, 2021, 2020, Our sources of revenue mainly include: ● SaaS and term license and support revenue includes revenue from the 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 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 contract. ● Perpetual license revenue is recognized upfront 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. In rare cases when the software and the related when-and-if available updates are critical to the combined utility of the software, the Company has determined this to be one 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 twelve 30 Total deferred revenue as of December 31, 2021, December 31, 2022. The opening and closing balances of the Company’s accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred Deferred (in thousands) 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 Opening (January 1, 2022) $ 61,335 $ 82,332 $ 38,926 Closing (December 31, 2022) 73,348 101,490 48,553 Increase/(decrease) 12,013 19,158 9,627 ( 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 licenses 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 apply 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 renewal 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 is allocated to each performance obligation within a sales arrangement. As of December 31, 2022, 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 the Black-Scholes valuation model. The Black-Scholes model requires highly subjective assumptions in order to derive the inputs necessary to calculate the fair value of stock options. To estimate the expected term of stock options, the Company considers the 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 the 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 | 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 the 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 unrecognized 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 2019 2022 2012 2022 | Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the 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 2018 2021 2012 2021 |
Emerging Growth Company [Policy Text Block] | Emerging Growth Company The Company is considered an emerging growth company. Section 102 1 not not 21E 1934, not | Emerging Growth Company The Company is considered an emerging growth company. Section 102 1 not not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Recently issued accounting pronouncements are not | Recent Accounting Pronouncements In January 2016, 2016 13, not 2020 02 December 15, 2022. not 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. |
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. We depreciate computer equipment and software generally over a period of three seven forty five Normal repair and maintenance costs are expensed as incurred. We write off depreciated assets that are no We evaluate long-lived assets, which include leasehold improvements and equipment subject to depreciation and 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 December 31, 2022, 2021, 2020 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 | |
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. five 985 20 December 31, 2022 2021. 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 | |
Redeemable Noncontrolling Interest [Policy Text Block] | Redeemable Noncontrolling Interest As of December 31, 2022 2021, EduTech AEPL PTE. LTD. ( AEPL ) As part of AEPL’s investment in EduTech, the Company granted AEPL a put option which allows AEPL to cause the Company to repurchase AEPL’s shares in EduTech at any time between December 24, 2022, December 24, 2023, December 31, 2022 2021, I-Access Solutions Pte. Ltd. ( I-Access ) On February 18, 2022, ( I-Access Closing Date January 31, 2022, ( Share Purchase Agreement December 31, 2022, 3 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Revenue: SaaS $ 35,512 $ 26,553 Term license and support 10,904 10,202 Services 9,747 8,925 Maintenance 3,409 4,611 Total revenue $ 59,572 $ 50,291 | For the Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: SaaS $ 117,180 $ 85,580 $ 52,074 Term license and support 57,214 50,970 38,949 Services 41,283 31,919 34,140 Maintenance 15,868 21,022 23,462 Perpetual license 794 2,418 2,908 Total revenue $ 232,339 $ 191,909 $ 151,533 |
Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions [Table Text Block] | Accounts Deferred receivable, Deferred contract net revenue costs (in thousands) Balance, December 31, 2022 $ 73,348 $ 101,490 $ 48,553 Balance, March 31, 2023 60,738 99,189 47,794 | Accounts Deferred Deferred (in thousands) 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 Opening (January 1, 2022) $ 61,335 $ 82,332 $ 38,926 Closing (December 31, 2022) 73,348 101,490 48,553 Increase/(decrease) 12,013 19,158 9,627 |
Note 3 - Goodwill (Tables)
Note 3 - Goodwill (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Goodwill [Table Text Block] | Goodwill (in thousands) Balance as of December 31, 2022 $ 18,904 Effect of foreign currency translation (33 ) Balance as of March 31, 2023 $ 18,871 | Goodwill (in thousands) Balance as of December 31, 2021 $ — Acquisitions 19,167 Effect of foreign currency translation (263 ) Balance as of December 31, 2022 $ 18,904 |
Note 4 - Intangible Assets, N_2
Note 4 - Intangible Assets, Net (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Finite-Lived Intangible Assets Amortization Expense [Table Text Block] | Year Ending December 31: (in thousands) 2023 (nine months) $ 1,521 2024 1,961 2025 1,573 2026 1,163 2027 1,136 Thereafter 3,494 Total intangible assets subject to amortization $ 10,848 | Year Ending December 31: (in thousands) 2023 $ 1,981 2024 1,869 2025 1,480 2026 1,135 2027 1,132 Thereafter 3,482 Total intangible assets subject to amortization $ 11,079 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average March 31, December 31, Life 2023 2022 (in thousands) (in years) Technology and software, net 7,129 (1,081 ) 6,048 6,842 (777 ) 6,065 6.8 Customer related assets, net 4,466 (294 ) 4,172 4,799 (477 ) 4,322 10.0 Content, net 838 (210 ) 628 830 (138 ) 692 3.0 Total $ 12,433 $ (1,585 ) $ 10,848 $ 12,471 $ (1,392 ) $ 11,079 7.7 | Gross Carrying Accumulated Amortization Net Carrying Gross Carrying Accumulated Amortization Net Carrying Weighted December 31, December (in thousands) (in years) Technology and software, net 6,842 (777 ) 6,065 — — — 6.9 Customer related assets, net 4,799 (477 ) 4,322 — — — 9.4 Content, net 830 (138 ) 692 — — — 3.0 Total $ 12,471 $ (1,392 ) $ 11,079 $ — $ — $ — 7.6 |
Note 6 - Accounts Receivable,_2
Note 6 - Accounts Receivable, Net (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2023 2022 (in thousands) Trade receivables $ 35,841 $ 47,046 Current unbilled receivables 21,633 20,153 Allowance for doubtful accounts (847 ) (725 ) $ 56,627 $ 66,474 | December 31, 2022 December 31, 2021 (in thousands) Trade receivables $ 47,046 $ 38,819 Current unbilled receivables 20,153 17,086 Allowance for doubtful accounts (725 ) (838 ) $ 66,474 $ 55,067 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Lease liability cost $ 1,749 $ 1,151 Short-term lease expenses (1) 248 814 Variable lease cost not included in the lease liability (2) 110 32 Total lease cost $ 2,107 $ 1,997 | Year Ended December 31, 2022 (in thousands) Lease liability cost $ 5,945 Short-term lease expenses (1) 1,760 Variable lease cost not included in the lease liability (2) 261 Total lease cost $ 7,966 |
Other Information Related to Operating Leases [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 2,046 $ 1,354 | Year Ended December 31, 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 5,626 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Year Ending December 31: (in thousands) 2023 (nine months) $ 4,789 2024 5,171 2025 3,590 2026 2,499 2027 1,709 Thereafter 1,999 Total future lease payments $ 19,757 Less: Present value adjustment (2,186 ) Present value of future lease payments (1) $ 17,571 | (in thousands) 2023 $ 6,104 2024 4,360 2025 2,817 2026 2,159 2027 1,373 Thereafter 1,887 Total future lease payments 18,700 Less: Present value adjustment (1,960 ) Present value of future lease payments (1) $ 16,740 |
Note 11 - Earn-Out and Warran_2
Note 11 - Earn-Out and Warrant Liabilities (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 31, 2023 Term (in years) 5.25 Volatility 55.00 % | December 31, 2022 December 31, 2021 July 1, 2021 Term (in years) 5.50 6.50 7.00 Volatility 55.00 % 40.00 % 40.00 % |
Note 13 - Stock-based Compens_2
Note 13 - Stock-based Compensation (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Cost of revenue $ 670 $ 578 Sales and marketing 2,201 2,462 General and administrative 4,382 4,484 Research and development 851 750 Total stock-based compensation $ 8,104 $ 8,274 | Year Ended December 31, 2022 2021 2020 Cost of revenue $ 2,640 $ 3,477 $ 592 Sales and marketing 11,393 15,906 19,973 General and administrative 19,398 24,063 12,916 Research and development 3,787 16,062 286 Total stock-based compensation $ 37,218 $ 59,508 $ 33,767 |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | March 13, 2023 Expected life (in years) 6.11 Expected volatility 59.19 % Risk-free rate 3.63 % Dividend yield — | 2022 2021 Expected term (in years) 6.11 6.11 Expected volatility 45.18 % 43.31 % Risk-free rate 2.16 % 0.94 % Dividend yield — — July 1 2021 Expected term (in years) 4.10 Expected volatility 34.44 % Risk-free rate 0.79 % Dividend yield — |
Note 14 - Financial Instrumen_2
Note 14 - Financial Instruments (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,707 $ — $ 1,707 Money funds (2) — 190,734 — 190,734 Short term investments: Certificates of deposit (1) — 2,879 — 2,879 Total $ — $ 195,320 $ — $ 195,320 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,922 $ 6,922 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,922 $ 7,149 December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,693 $ — $ 1,693 Money funds (2) — 188,769 — 188,769 Short term investments: Certificates of deposit (1) — 2,620 — 2,620 Other assets: Certificates of deposit (1) — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,631 $ 6,631 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 | Year Ended December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit $ — $ 1,693 $ — $ 1,693 Money funds — 188,769 — 188,769 Short term investments: Certificates of deposit — 2,620 — 2,620 Other assets: Certificates of deposit — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares (2) $ — $ — $ 6,631 $ 6,631 Warrant liabilities (2) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 Year Ended December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: U.S. treasury bills (1) $ — $ 199,999 $ — $ 199,999 Certificates of deposit — 1,433 — 1,433 Short term investments: Certificates of deposit — 2,411 — 2,411 Other assets: Certificates of deposit — 285 — 285 Total $ — $ 204,128 $ — $ 204,128 Liabilities: Earn-out shares (2) $ — $ — $ 10,012 $ 10,012 Warrant liabilities (2) — 458 — 458 Total $ — $ 458 $ 10,012 $ 10,470 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended March 31, 2023 (in thousands) Opening balance $ 6,631 Total gains or losses from the period Included in earnings 109 Reclass from Earnout-RSU 182 Closing balance $ 6,922 | Year Ended December 31, 2022 (in thousands) Opening balance $ 10,012 Total gains or losses from the period Included in earnings (4,165 ) Reclass from Earnout-RSU 784 Closing balance $ 6,631 |
Note 15 - Segment Information (
Note 15 - Segment Information (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Revenue: North America $ 24,436 $ 21,709 EMEA 19,488 15,342 APAC 15,648 13,240 Total revenue $ 59,572 $ 50,291 Three Months Ended March 31, 2023 2022 (in thousands) Revenue: United States $ 23,518 21,709 Germany 8,655 5,971 Singapore 6,437 4,200 Japan 5,375 5,895 | Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: North America $ 102,025 $ 83,034 $ 67,823 EMEA 71,635 58,285 42,441 APAC 58,679 50,590 41,269 Total revenue $ 232,339 $ 191,909 $ 151,533 Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: United States $ 100,870 $ 83,034 $ 67,823 Germany 30,625 23,574 17,650 Japan 21,348 23,360 17,331 Singapore 21,915 16,580 15,376 December 31, December 31, 2022 2021 (in thousands) Property and equipment, net: United States $ 1,279 $ 923 China 2,982 2,376 Other 1,276 623 Total property and equipment, net $ 5,537 $ 3,922 |
Note 16 - Loss Per Share (Table
Note 16 - Loss Per Share (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (9,182 ) $ (11,053 ) Net income attributable to redeemable noncontrolling interest (15 ) (617 ) Net loss attributable to AvePoint, Inc. $ (9,197 ) $ (11,670 ) Total net loss available to common shareholders $ (9,197 ) $ (11,670 ) Denominator: Weighted average common shares outstanding 182,818 182,833 Effect of dilutive securities — — Weighted average diluted shares 182,818 182,833 Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.05 ) $ (0.06 ) | Year Ended December 31, 2022 2021 2020 (in thousands, except per share amounts) Loss per share available to common stockholders, excluding sponsor earn-out stockholders Numerator: Net loss $ (38,688 ) $ (33,245 ) $ (16,969 ) Net income attributable to redeemable noncontrolling interest (2,942 ) (1,974 ) (27 ) Net loss attributable to AvePoint, Inc. $ (41,630 ) $ (35,219 ) $ (16,996 ) Deemed dividends on preferred stock — (32,928 ) (34,446 ) Total net loss available to common stockholders $ (41,630 ) $ (68,147 ) $ (51,442 ) Denominator: Weighted average common shares outstanding 181,957 141,596 89,638 Effect of dilutive securities — — — Weighted average diluted shares 181,957 141,596 89,638 Basic and diluted loss per share available to common stockholders, excluding sponsor earn-out stockholders $ (0.23 ) $ (0.48 ) $ (0.57 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | March 31, 2023 2022 (in thousands) Stock options 29,437 30,437 Restricted stock units 13,246 9,369 Warrants 17,905 17,905 Company Earn-Outs 3,000 3,000 Total potentially dilutive securities 63,588 60,711 | Year Ended December 31, 2022 2021 2020 (in thousands) Convertible preferred stock — — 42,001 Stock options 29,168 30,480 34,857 Restricted stock units 8,493 5,167 — Warrants 17,905 17,905 — Company Earn-Outs 3,000 3,000 — Total potentially dilutive securities 58,566 56,552 76,858 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies (10K) (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Revenue: SaaS $ 35,512 $ 26,553 Term license and support 10,904 10,202 Services 9,747 8,925 Maintenance 3,409 4,611 Total revenue $ 59,572 $ 50,291 | For the Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: SaaS $ 117,180 $ 85,580 $ 52,074 Term license and support 57,214 50,970 38,949 Services 41,283 31,919 34,140 Maintenance 15,868 21,022 23,462 Perpetual license 794 2,418 2,908 Total revenue $ 232,339 $ 191,909 $ 151,533 |
Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions [Table Text Block] | Accounts Deferred receivable, Deferred contract net revenue costs (in thousands) Balance, December 31, 2022 $ 73,348 $ 101,490 $ 48,553 Balance, March 31, 2023 60,738 99,189 47,794 | Accounts Deferred Deferred (in thousands) 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 Opening (January 1, 2022) $ 61,335 $ 82,332 $ 38,926 Closing (December 31, 2022) 73,348 101,490 48,553 Increase/(decrease) 12,013 19,158 9,627 |
Note 3 - Business Combination (
Note 3 - Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | February 18, 2022 April 15, 2022 Expected life (in years) 2.08 1.93 Expected volatility 50 % 50 % Risk-free rate 1.23 % 1.83 % Dividend 0 % 0 % |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Preliminary Allocation (in thousands) Accounts receivable, net $ 429 Prepaid expenses and other current assets 72 Property and equipment 22 Goodwill 3,950 Technology and software 2,750 Customer related assets 909 Other assets 997 Accrued expenses and other liabilities (718 ) Current portion of deferred revenue (230 ) Other non-current liabilities (1,072 ) Total purchase consideration $ 7,109 Preliminary Allocation (in thousands) Accounts receivable, net $ 449 Prepaid expenses and other current assets 262 Property and equipment 30 Goodwill 12,193 Customer related assets 3,868 Technology and software 2,552 Other assets 219 Accounts payable (93 ) Accrued expenses and other liabilities (342 ) Current portion of deferred revenue (2,079 ) Other non-current liabilities (1,724 ) Total purchase consideration $ 15,335 |
Note 4 - Goodwill (Tables)
Note 4 - Goodwill (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Goodwill [Table Text Block] | Goodwill (in thousands) Balance as of December 31, 2022 $ 18,904 Effect of foreign currency translation (33 ) Balance as of March 31, 2023 $ 18,871 | Goodwill (in thousands) Balance as of December 31, 2021 $ — Acquisitions 19,167 Effect of foreign currency translation (263 ) Balance as of December 31, 2022 $ 18,904 |
Note 5 - Intangible Assets, N_2
Note 5 - Intangible Assets, Net (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Finite-Lived Intangible Assets Amortization Expense [Table Text Block] | Year Ending December 31: (in thousands) 2023 (nine months) $ 1,521 2024 1,961 2025 1,573 2026 1,163 2027 1,136 Thereafter 3,494 Total intangible assets subject to amortization $ 10,848 | Year Ending December 31: (in thousands) 2023 $ 1,981 2024 1,869 2025 1,480 2026 1,135 2027 1,132 Thereafter 3,482 Total intangible assets subject to amortization $ 11,079 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average March 31, December 31, Life 2023 2022 (in thousands) (in years) Technology and software, net 7,129 (1,081 ) 6,048 6,842 (777 ) 6,065 6.8 Customer related assets, net 4,466 (294 ) 4,172 4,799 (477 ) 4,322 10.0 Content, net 838 (210 ) 628 830 (138 ) 692 3.0 Total $ 12,433 $ (1,585 ) $ 10,848 $ 12,471 $ (1,392 ) $ 11,079 7.7 | Gross Carrying Accumulated Amortization Net Carrying Gross Carrying Accumulated Amortization Net Carrying Weighted December 31, December (in thousands) (in years) Technology and software, net 6,842 (777 ) 6,065 — — — 6.9 Customer related assets, net 4,799 (477 ) 4,322 — — — 9.4 Content, net 830 (138 ) 692 — — — 3.0 Total $ 12,471 $ (1,392 ) $ 11,079 $ — $ — $ — 7.6 |
Note 7 - Accounts Receivable,_2
Note 7 - Accounts Receivable, Net (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2023 2022 (in thousands) Trade receivables $ 35,841 $ 47,046 Current unbilled receivables 21,633 20,153 Allowance for doubtful accounts (847 ) (725 ) $ 56,627 $ 66,474 | December 31, 2022 December 31, 2021 (in thousands) Trade receivables $ 47,046 $ 38,819 Current unbilled receivables 20,153 17,086 Allowance for doubtful accounts (725 ) (838 ) $ 66,474 $ 55,067 |
Note 8 - Property and Equipme_2
Note 8 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2022 December 31, 2021 (in thousands) Computer equipment $ 6,079 $ 5,777 Leasehold improvements 3,823 2,769 Furniture and fixtures 1,316 1,102 Building 725 786 Office equipment 493 394 Software 347 378 12,783 11,206 Less accumulated depreciation and amortization (7,246 ) (7,284 ) $ 5,537 $ 3,922 |
Note 9 - Accrued Expenses and_2
Note 9 - Accrued Expenses and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2022 December 31, 2021 (in thousands) Accrued compensation $ 26,585 $ 22,740 Current operating lease liabilities 5,392 — Indirect taxes 3,638 3,945 Cloud service fees 2,285 1,314 Professional service fees 1,464 1,033 Accrued partner expenses 1,445 903 Income taxes payable 1,055 1,197 Other 5,920 3,930 $ 47,784 $ 35,062 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, 2022 2021 2020 (in thousands) Domestic $ (17,081 ) $ (23,583 ) $ (19,107 ) Foreign (16,569 ) (9,205 ) 3,200 Pretax loss from continuing operations $ (33,650 ) $ (32,788 ) $ (15,907 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2022 2021 2020 (in thousands) Current income tax expense: Federal $ 1,937 $ 467 $ — State and local 668 (881 ) 411 Foreign (1,478 ) 1,117 1,096 Total current income tax expense 1,127 703 1,507 Deferred income tax expense (benefit): Federal 2,370 89 (175 ) State and local (820 ) (12 ) (843 ) Foreign 2,361 (323 ) 573 Total deferred income tax expense (benefit) 3,911 (246 ) (445 ) Total income tax expense $ 5,038 $ 457 $ 1,062 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2022 2021 2020 (in thousands) U.S. federal statutory tax rate $ (7,067 ) $ (6,886 ) $ (3,340 ) State and local income taxes, net (292 ) (962 ) (519 ) Stock-based compensation (51 ) 10,865 6,770 Executive compensation limitation 3,566 — — Fair value of earnout liability (828 ) (3,946 ) — Transaction costs 125 (2,209 ) — Change in valuation allowance 12,844 3,085 (3,216 ) Foreign rate differential (2,066 ) 440 1,575 Return-to-provision adjustments (1,029 ) (196 ) (538 ) Permanent differences 29 334 65 Other, net (193 ) (68 ) 265 Total $ 5,038 $ 457 $ 1,062 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2022 December 31, 2021 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 13,775 $ 10,716 Deferred revenue 4,301 5,315 Compensation and benefits 6,567 4,384 Research and development expenses 6,169 — Lease liability 3,622 — Foreign tax credits 270 720 Fair value of earnout liability 93 181 Other 457 1,047 35,254 22,363 Less: Valuation allowance (20,808 ) (8,356 ) Deferred tax assets, net 14,446 14,007 Deferred tax liabilities: Property and equipment (197 ) (132 ) Amortization (2,595 ) (214 ) Commissions (8,384 ) (7,918 ) Prepaid subscription (836 ) (822 ) Unbilled receivable (1,489 ) (2,183 ) Right-of-use assets (3,402 ) — Total deferred tax liability (16,903 ) (11,269 ) Net deferred tax (liabilities) assets $ (2,457 ) $ 2,738 December 31, 2022 December 31, 2021 (in thousands) Deferred tax assets, net of valuation allowance $ 488 $ 3,182 Deferred tax liabilities (2,945 ) (444 ) Net deferred tax (liabilities) assets $ (2,457 ) $ 2,738 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31, 2022 December 31, 2021 (in thousands) Beginning balance $ 1,088 $ 5,369 Additions based on tax positions related to the current year — — Reduction for tax positions of prior years (12 ) (4,281 ) Reduction for settlements (935 ) — Expiration of applicable statute of limitations — — Ending balance $ 141 $ 1,088 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Lease liability cost $ 1,749 $ 1,151 Short-term lease expenses (1) 248 814 Variable lease cost not included in the lease liability (2) 110 32 Total lease cost $ 2,107 $ 1,997 | Year Ended December 31, 2022 (in thousands) Lease liability cost $ 5,945 Short-term lease expenses (1) 1,760 Variable lease cost not included in the lease liability (2) 261 Total lease cost $ 7,966 |
Other Information Related to Operating Leases [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 2,046 $ 1,354 | Year Ended December 31, 2022 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 5,626 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Year Ending December 31: (in thousands) 2023 (nine months) $ 4,789 2024 5,171 2025 3,590 2026 2,499 2027 1,709 Thereafter 1,999 Total future lease payments $ 19,757 Less: Present value adjustment (2,186 ) Present value of future lease payments (1) $ 17,571 | (in thousands) 2023 $ 6,104 2024 4,360 2025 2,817 2026 2,159 2027 1,373 Thereafter 1,887 Total future lease payments 18,700 Less: Present value adjustment (1,960 ) Present value of future lease payments (1) $ 16,740 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (in thousands) 2022 $ 5,680 2023 3,808 2024 2,428 2025 1,840 2026 1,438 Thereafter 2,960 $ 18,154 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | (in thousands) 2023 $ 2,026 2024 2,213 2025 96,000 2026 — 2027 — Thereafter — $ 100,239 |
Note 14 - Company Earn-Out an_2
Note 14 - Company Earn-Out and Warrant Liabilities (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 31, 2023 Term (in years) 5.25 Volatility 55.00 % | December 31, 2022 December 31, 2021 July 1, 2021 Term (in years) 5.50 6.50 7.00 Volatility 55.00 % 40.00 % 40.00 % |
Note 15 - Mezzanine Equity an_2
Note 15 - Mezzanine Equity and Stockholders' Equity (Deficiency) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Redeemable Noncontrolling Interest [Table Text Block] | Redeemable noncontrolling interest (in thousands) Beginning balance (December 31, 2021) $ 5,210 Issuance of redeemable noncontrolling interest in EduTech 5,794 Net loss attributable to redeemable noncontrolling interest (401 ) Other comprehensive income attributable to redeemable noncontrolling interest 61 Adjustment to present redemption value as of December 31, 2022 3,343 Ending balance (December 31, 2022) $ 14,007 |
Note 16 - Stock-based Compens_2
Note 16 - Stock-based Compensation (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Cost of revenue $ 670 $ 578 Sales and marketing 2,201 2,462 General and administrative 4,382 4,484 Research and development 851 750 Total stock-based compensation $ 8,104 $ 8,274 | Year Ended December 31, 2022 2021 2020 Cost of revenue $ 2,640 $ 3,477 $ 592 Sales and marketing 11,393 15,906 19,973 General and administrative 19,398 24,063 12,916 Research and development 3,787 16,062 286 Total stock-based compensation $ 37,218 $ 59,508 $ 33,767 |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | March 13, 2023 Expected life (in years) 6.11 Expected volatility 59.19 % Risk-free rate 3.63 % Dividend yield — | 2022 2021 Expected term (in years) 6.11 6.11 Expected volatility 45.18 % 43.31 % Risk-free rate 2.16 % 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] | Stock Options Weighted-Average Exercise Price Weighted-Average Contractual Life Balance, January 1, 2022 30,480,317 $ 3.87 2.83 Granted 689,406 5.88 — Exercised (1,799,665 ) 1.57 — Forfeited or expired (202,255 ) 4.94 — Balance, December 31, 2022 29,167,803 $ 4.05 6.53 | |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Outstanding Exercisable Exercise Price Stock Options Weighted-Average Weighted-Average Stock Options Weighted-Average Contractual Life Weighted-Average $0.03 - $1.34 5,964,947 3.68 $ 1.28 5,964,947 3.68 $ 1.28 $1.52 - $1.89 5,795,861 4.98 1.59 5,519,215 4.92 1.59 $3.90 - $9.64 17,406,995 8.01 5.82 7,973,397 7.85 5.17 29,167,803 6.53 $ 4.05 19,457,559 5.74 $ 2.96 | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Unvested Restricted Stock Number of Weighted- Unvested as of December 31, 2021 5,167,479 $ 9.64 Granted 5,749,764 5.55 Vested (1,784,993 ) 9.42 Forfeited (739,707 ) 7.17 Unvested as of December 31, 2022 8,392,543 $ 7.10 |
Note 17 - Financial Instrumen_2
Note 17 - Financial Instruments (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,707 $ — $ 1,707 Money funds (2) — 190,734 — 190,734 Short term investments: Certificates of deposit (1) — 2,879 — 2,879 Total $ — $ 195,320 $ — $ 195,320 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,922 $ 6,922 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,922 $ 7,149 December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,693 $ — $ 1,693 Money funds (2) — 188,769 — 188,769 Short term investments: Certificates of deposit (1) — 2,620 — 2,620 Other assets: Certificates of deposit (1) — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares liabilities: Earn-out shares (3) $ — $ — $ 6,631 $ 6,631 Other non-current liabilities: Warrant liabilities (3) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 | Year Ended December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit $ — $ 1,693 $ — $ 1,693 Money funds — 188,769 — 188,769 Short term investments: Certificates of deposit — 2,620 — 2,620 Other assets: Certificates of deposit — 162 — 162 Total $ — $ 193,244 $ — $ 193,244 Liabilities: Earn-out shares (2) $ — $ — $ 6,631 $ 6,631 Warrant liabilities (2) — 227 — 227 Total $ — $ 227 $ 6,631 $ 6,858 Year Ended December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: U.S. treasury bills (1) $ — $ 199,999 $ — $ 199,999 Certificates of deposit — 1,433 — 1,433 Short term investments: Certificates of deposit — 2,411 — 2,411 Other assets: Certificates of deposit — 285 — 285 Total $ — $ 204,128 $ — $ 204,128 Liabilities: Earn-out shares (2) $ — $ — $ 10,012 $ 10,012 Warrant liabilities (2) — 458 — 458 Total $ — $ 458 $ 10,012 $ 10,470 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended March 31, 2023 (in thousands) Opening balance $ 6,631 Total gains or losses from the period Included in earnings 109 Reclass from Earnout-RSU 182 Closing balance $ 6,922 | Year Ended December 31, 2022 (in thousands) Opening balance $ 10,012 Total gains or losses from the period Included in earnings (4,165 ) Reclass from Earnout-RSU 784 Closing balance $ 6,631 |
Note 18 - Segment Information (
Note 18 - Segment Information (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands) Revenue: North America $ 24,436 $ 21,709 EMEA 19,488 15,342 APAC 15,648 13,240 Total revenue $ 59,572 $ 50,291 Three Months Ended March 31, 2023 2022 (in thousands) Revenue: United States $ 23,518 21,709 Germany 8,655 5,971 Singapore 6,437 4,200 Japan 5,375 5,895 | Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: North America $ 102,025 $ 83,034 $ 67,823 EMEA 71,635 58,285 42,441 APAC 58,679 50,590 41,269 Total revenue $ 232,339 $ 191,909 $ 151,533 Year Ended December 31, 2022 2021 2020 (in thousands) Revenue: United States $ 100,870 $ 83,034 $ 67,823 Germany 30,625 23,574 17,650 Japan 21,348 23,360 17,331 Singapore 21,915 16,580 15,376 December 31, December 31, 2022 2021 (in thousands) Property and equipment, net: United States $ 1,279 $ 923 China 2,982 2,376 Other 1,276 623 Total property and equipment, net $ 5,537 $ 3,922 |
Note 19 - Loss Per Share (Table
Note 19 - Loss Per Share (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Notes Tables | ||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2023 2022 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (9,182 ) $ (11,053 ) Net income attributable to redeemable noncontrolling interest (15 ) (617 ) Net loss attributable to AvePoint, Inc. $ (9,197 ) $ (11,670 ) Total net loss available to common shareholders $ (9,197 ) $ (11,670 ) Denominator: Weighted average common shares outstanding 182,818 182,833 Effect of dilutive securities — — Weighted average diluted shares 182,818 182,833 Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.05 ) $ (0.06 ) | Year Ended December 31, 2022 2021 2020 (in thousands, except per share amounts) Loss per share available to common stockholders, excluding sponsor earn-out stockholders Numerator: Net loss $ (38,688 ) $ (33,245 ) $ (16,969 ) Net income attributable to redeemable noncontrolling interest (2,942 ) (1,974 ) (27 ) Net loss attributable to AvePoint, Inc. $ (41,630 ) $ (35,219 ) $ (16,996 ) Deemed dividends on preferred stock — (32,928 ) (34,446 ) Total net loss available to common stockholders $ (41,630 ) $ (68,147 ) $ (51,442 ) Denominator: Weighted average common shares outstanding 181,957 141,596 89,638 Effect of dilutive securities — — — Weighted average diluted shares 181,957 141,596 89,638 Basic and diluted loss per share available to common stockholders, excluding sponsor earn-out stockholders $ (0.23 ) $ (0.48 ) $ (0.57 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | March 31, 2023 2022 (in thousands) Stock options 29,437 30,437 Restricted stock units 13,246 9,369 Warrants 17,905 17,905 Company Earn-Outs 3,000 3,000 Total potentially dilutive securities 63,588 60,711 | Year Ended December 31, 2022 2021 2020 (in thousands) Convertible preferred stock — — 42,001 Stock options 29,168 30,480 34,857 Restricted stock units 8,493 5,167 — Warrants 17,905 17,905 — Company Earn-Outs 3,000 3,000 — Total potentially dilutive securities 58,566 56,552 76,858 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies 1 (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 8 months 12 days | 7 years 7 months 6 days | |||
Gain (Loss), Foreign Currency Transaction, before Tax | $ 300 | $ 200 | |||
Cash | 7,800 | $ 10,800 | $ 9,300 | ||
Prepaid Expense, Current | 5,300 | 7,100 | |||
Capitalized Contract Cost, Amortization | 4,200 | 3,000 | 13,400 | 9,500 | $ 10,500 |
Capitalized Contract Cost, Net | 47,794 | 48,553 | 38,926 | 31,943 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 59,572 | 50,291 | 232,339 | 191,909 | 151,533 |
Contract with Customer, Liability | 99,189 | 101,490 | 82,332 | 74,688 | |
Contract with Customer, Liability, Revenue Recognized | 35,000 | $ 72,300 | |||
Revenue, Remaining Performance Obligation, Amount | $ 238,600 | ||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Open Tax Year | 2019 | 2018 2019 2020 2021 | |||
State and Local Jurisdiction [Member] | |||||
Open Tax Year | 2022 | 2018 2019 2020 2021 | |||
Foreign Tax Authority [Member] | |||||
Open Tax Year | 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 | 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 | |||
Termed License and Support [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 10,904 | 10,202 | $ 57,214 | 50,970 | 38,949 |
Revenue, Remaining Performance Obligation, Amount | 186,300 | ||||
Termed License and Support [Member] | SaaS [Member | |||||
Revenue, Remaining Performance Obligation, Amount | 186,400 | ||||
Transferred at Point in Time [Member] | Termed License and Support [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,900 | $ 6,200 | $ 40,000 | $ 39,700 | $ 32,400 |
Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | 1 year | |||
Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 10 years |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Mar. 31, 2023 | Dec. 31, 2022 |
Revenue, Remaining Performance Obligation, Percentage | 64% | 64% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month) | 12 months | 12 months |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Revenue by Source (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 59,572 | $ 50,291 | $ 232,339 | $ 191,909 | $ 151,533 |
SaaS [Member | |||||
Revenue | 35,512 | 26,553 | 117,180 | 85,580 | 52,074 |
Termed License and Support [Member] | |||||
Revenue | 10,904 | 10,202 | 57,214 | 50,970 | 38,949 |
Service [Member] | |||||
Revenue | 9,747 | 8,925 | 41,283 | 31,919 | 34,140 |
Maintenance [Member] | |||||
Revenue | $ 3,409 | $ 4,611 | $ 15,868 | $ 21,022 | $ 23,462 |
Note 2 - Summary of Significa_8
Note 2 - Summary of Significant Accounting Policies - Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Opening, accounts receivable, net | [1] | $ 73,348 | $ 61,335 | $ 53,749 | ||
Opening, deferred revenue | 101,490 | 82,332 | 74,688 | |||
Opening, deferred sales commissions | 48,553 | 38,926 | 31,943 | |||
Closing, accounts receivable, net | 60,738 | 73,348 | [1] | 61,335 | [1] | |
Closing, deferred revenue | 99,189 | 101,490 | 82,332 | |||
Closing, deferred sales commissions | $ 47,794 | $ 48,553 | $ 38,926 | |||
[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 - Goodwill - Changes in
Note 3 - Goodwill - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 18,904 | $ 0 |
Effect of foreign currency translation | (33) | (263) |
Balance | $ 18,871 | $ 18,904 |
Note 4 - Intangible Assets, N_3
Note 4 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Amortization of Intangible Assets | $ 500 | $ 100 | $ 1,400 | $ 0 |
Note 4 - Intangible Assets, N_4
Note 4 - Intangible Assets, Net - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
2023 (nine months) | $ 1,521 | ||
2023 | 1,961 | $ 1,981 | |
2024 | 1,573 | 1,869 | |
2025 | 1,163 | 1,480 | |
2026 | 1,136 | 1,135 | |
Thereafter | 3,494 | ||
Total intangible assets subject to amortization | $ 10,848 | $ 11,079 | $ 0 |
Note 4 - Intangible Assets, N_5
Note 4 - Intangible Assets, Net - Summary of Balances of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Gross carrying amount | $ 12,433 | $ 12,471 | $ 0 |
Accumulated amortization | (1,585) | (1,392) | 0 |
Net carrying amount | $ 10,848 | $ 11,079 | 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 8 months 12 days | 7 years 7 months 6 days | |
Technology-Based Intangible Assets [Member] | |||
Gross carrying amount | $ 7,129 | $ 6,842 | 0 |
Accumulated amortization | (1,081) | (777) | 0 |
Net carrying amount | $ 6,048 | $ 6,065 | 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 9 months 18 days | 6 years 10 months 24 days | |
Customer Relationships [Member] | |||
Gross carrying amount | $ 4,466 | $ 4,799 | 0 |
Accumulated amortization | (294) | (477) | 0 |
Net carrying amount | $ 4,172 | $ 4,322 | 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 9 years 4 months 24 days | |
Media Content [Member] | |||
Gross carrying amount | $ 838 | $ 830 | 0 |
Accumulated amortization | (210) | (138) | 0 |
Net carrying amount | $ 628 | $ 692 | $ 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | 3 years |
Note 5 - Concentration of Cre_2
Note 5 - Concentration of Credit Risk (Details Textual) Pure in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Number of Major Customers | 0 | 0 | 0 | 0 |
Note 6 - Accounts Receivable,_3
Note 6 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Allowance for doubtful accounts | $ (847) | $ (725) | $ (838) |
Accounts Receivable, after Allowance for Credit Loss, Current | 56,627 | 66,474 | 55,067 |
Trade Accounts Receivable [Member] | |||
Accounts receivable, gross | 35,841 | 47,046 | 38,819 |
Unbilled Receivable [Member] | |||
Accounts receivable, gross | $ 21,633 | $ 20,153 | $ 17,086 |
Note 7 - Line of Credit (Detail
Note 7 - Line of Credit (Details Textual) - HSBC Venture Bank USA Inc. [Member] - USD ($) $ in Thousands | 33 Months Ended | 36 Months Ended | |
Apr. 07, 2020 | Dec. 31, 2022 | Mar. 31, 2023 | |
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 | $ 0 | |
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.10% | ||
Line of Credit, Accordion Feature [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | (27.46%) | (2.88%) |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 2.6 | $ 6.9 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 3 months 18 days | 4 years 4 months 24 days |
Operating Lease, Weighted Average Discount Rate, Percent | 5.50% | 5.10% |
Operating Lease, Liability, Current | $ 5.8 | $ 5.4 |
Note 9 - Leases - Components of
Note 9 - Leases - Components of Operating Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Lease liability cost | $ 1,749 | $ 1,151 | $ 5,945 | |
Short-term lease expenses (1) | [1] | 248 | 814 | 1,760 |
Variable lease cost not included in the lease liability (2) | [2] | 110 | 32 | 261 |
Total lease cost | $ 2,107 | $ 1,997 | $ 7,966 | |
[1]Short-term lease expenses include rent expenses from leases of 12 months or less on the transition date or lease commencement.[2]Variable lease cost includes common area maintenance, property taxes, and fluctuations in rent due to a change in an index or rate. |
Note 9 - Leases - Other Informa
Note 9 - Leases - Other Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Operating cash flows from operating leases | $ 2,046 | $ 1,354 | $ 5,626 |
Note 9 - Leases - Maturity Sche
Note 9 - Leases - Maturity Schedule of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | ||
2023 (nine months) | $ 4,789 | |||
2023 | 5,171 | $ 6,104 | ||
2024 | 3,590 | 4,360 | ||
2025 | 2,499 | 2,817 | ||
2026 | 1,709 | 2,159 | ||
Thereafter | 1,999 | |||
Total future lease payments | 19,757 | 18,700 | ||
Less: Present value adjustment | (2,186) | (1,960) | ||
Long-term Operating Lease Liabilities [Member] | ||||
Present value of future lease payments (1) | $ 17,571 | [1] | $ 16,740 | [2] |
[1]Includes the current portion of operating lease liabilities of $5.8 million, which is reflected in accrued expenses and other liabilities in the condensed consolidated balance sheets.[2]Includes the current portion of operating lease liabilities of $5.4 million, which is reflected in accrued expenses and other liabilities in the consolidated balance sheets. |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Guarantee for Service Agreement [Member] | ||
Letters of Credit Outstanding, Amount | $ 2.6 | $ 2.4 |
Note 11 - Earn-Out and Warran_3
Note 11 - Earn-Out and Warrant Liabilities (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jul. 26, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | 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 | $ 6,900 | $ 6,600 | $ 10,000 | $ 29,600 | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 100 | 4,300 | 20,300 | |||
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 | 200 | 200 | 500 | $ 1,400 | ||
Fair Value Adjustment of Warrants | $ 0 | $ 100 | $ 200 | $ 900 |
Note 11 - Earn-Out and Warran_4
Note 11 - Earn-Out and Warrant Liabilities - Earn-out Shares Fair Value Assumptions (Details) | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 01, 2021 |
Measurement Input, Expected Term [Member] | ||||
Measurement input | 5.25 | 5.50 | 6.50 | 7 |
Measurement Input, Price Volatility [Member] | ||||
Measurement input | 0.5500 | 0.5500 | 0.4000 | 0.4000 |
Note 12 - Mezzanine Equity an_2
Note 12 - Mezzanine Equity and Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Jul. 01, 2021 | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 17, 2022 | Dec. 31, 2021 | Jul. 26, 2021 | |
Common Stock, Shares Authorized (in shares) | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Common Stock, Shares, Issued, Including Treasury Shares (in shares) | 191,402,433 | 189,467,338 | ||||
Number of Shares Subject to Vesting Provision (in shares) | 2,916,700 | 0 | 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) | $ 11.50 | |||||
Share Repurchase Program [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 150 | |||||
Treasury Stock, Shares, Acquired (in shares) | 424,876 | 4,046,186 | ||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 4.2635 | $ 4.92 | ||||
Public Warrant [Member] | ||||||
Class of Warrant or Right, Outstanding (in shares) | 17,500,000 | 17,500,000 | 17,500,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 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 |
Note 13 - Stock-based Compens_3
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Jul. 01, 2021 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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, Grants in Period, Fair Value | $ 25 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 29,436,670 | 29,167,803 | 30,480,317 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares) | 20,229,958 | 19,457,559 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 32.3 | $ 33.8 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | $ 31.4 | $ 32 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 680,385 | 1,799,665 | 5,141,331 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 2 | $ 6.6 | $ 40 | ||
Share-Based Payment Arrangement, Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | 4 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | 10 years | |||
Restricted Stock Units (RSUs) [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,749,764 | 0 | |||
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) | $ 5.55 | $ 9.64 | |||
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 Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Fair Value | $ 2.5 | ||||
The 2021 Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 22,573,555 | 20,298,497 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,125,374 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $ 2.8 | ||||
The 2021 Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | 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, Equity Instruments Other than Options, Grants in Period (in shares) | 6,349,464 | ||||
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) | $ 4.22 | ||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 73.2 | $ 53 |
Note 13 - Stock-based Compens_4
Note 13 - Stock-based Compensation - Stock-based Compensation (Details) - The 2006, 2016 and 2021 [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stock-based Compensation | $ 8,104 | $ 8,274 | $ 37,218 | $ 59,508 | $ 33,767 |
Cost of Sales [Member] | |||||
Stock-based Compensation | 670 | 578 | 2,640 | 3,477 | 592 |
Selling and Marketing Expense [Member] | |||||
Stock-based Compensation | 2,201 | 2,462 | 11,393 | 15,906 | 19,973 |
General and Administrative Expense [Member] | |||||
Stock-based Compensation | 4,382 | 4,484 | 19,398 | 24,063 | 12,916 |
Research and Development Expense [Member] | |||||
Stock-based Compensation | $ 851 | $ 750 | $ 3,787 | $ 16,062 | $ 286 |
Note 13 - Stock-based Compens_5
Note 13 - Stock-based Compensation - Stock Option Valuation Assumptions (Details) - Share-Based Payment Arrangement, Option [Member] - The 2021 Plan [Member] | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Expected term (in years) (Year) | 6 years 1 month 9 days | 6 years 1 month 9 days | 6 years 1 month 9 days |
Expected volatility | 59.19% | 45.18% | 43.31% |
Risk-free rate | 3.63% | 2.16% | 0.94% |
Dividend yield | 0% |
Note 14 - Financial Instrumen_3
Note 14 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Money Market Funds [Member] | Securities Investment [Member] | ||
Gain (Loss) on Investments | $ 1,700 | $ 0 |
Note 14 - Financial Instrumen_4
Note 14 - Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Total | $ 195,320 | $ 193,244 | $ 204,128 | ||||
Liabilities | 7,149 | 6,858 | 10,470 | ||||
Certificates of deposit (1) | 162 | ||||||
Warrant Liabilities [Member] | |||||||
Liabilities | 227 | [1] | 227 | [1],[2] | 458 | [2] | |
Company Earn-Outs [Member] | |||||||
Liabilities | 6,631 | [1] | 10,012 | [2] | |||
Fair Value, Inputs, Level 1 [Member] | |||||||
Total | 0 | 0 | 0 | ||||
Liabilities | 0 | 0 | 0 | ||||
Certificates of deposit (1) | 0 | ||||||
Fair Value, Inputs, Level 1 [Member] | Warrant Liabilities [Member] | |||||||
Liabilities | 0 | [1] | 0 | [1],[2] | 0 | [2] | |
Fair Value, Inputs, Level 1 [Member] | Company Earn-Outs [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Fair Value, Inputs, Level 2 [Member] | |||||||
Total | 195,320 | 193,244 | 204,128 | ||||
Liabilities | 227 | 227 | 458 | ||||
Certificates of deposit (1) | 162 | ||||||
Fair Value, Inputs, Level 2 [Member] | Warrant Liabilities [Member] | |||||||
Liabilities | 227 | [1] | 227 | [1],[2] | 458 | [2] | |
Fair Value, Inputs, Level 2 [Member] | Company Earn-Outs [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Fair Value, Inputs, Level 3 [Member] | |||||||
Total | 0 | 0 | 0 | ||||
Liabilities | 6,922 | 6,631 | 10,012 | ||||
Certificates of deposit (1) | 0 | ||||||
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member] | |||||||
Liabilities | 0 | [1] | 0 | [1],[2] | 0 | [2] | |
Fair Value, Inputs, Level 3 [Member] | Company Earn-Outs [Member] | |||||||
Liabilities | 6,631 | [1] | 10,012 | [2] | |||
Certificates of Deposit [Member] | |||||||
Cash Equivalents | 1,707 | [3] | 1,693 | [3] | 1,433 | ||
Short term investments | 2,879 | [3] | 2,620 | [3] | 2,411 | ||
Cash Equivalents | 1,707 | [3] | 1,693 | [3] | 1,433 | ||
Certificates of deposit (1) | 162 | [3] | 285 | ||||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash Equivalents | 0 | [3] | 0 | [3] | 0 | ||
Short term investments | 0 | [3] | 0 | [3] | 0 | ||
Cash Equivalents | 0 | [3] | 0 | [3] | 0 | ||
Certificates of deposit (1) | 0 | [3] | 0 | ||||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash Equivalents | 1,707 | [3] | 1,693 | [3] | 1,433 | ||
Short term investments | 2,879 | [3] | 2,620 | [3] | 2,411 | ||
Cash Equivalents | 1,707 | [3] | 1,693 | [3] | 1,433 | ||
Certificates of deposit (1) | 162 | [3] | 285 | ||||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash Equivalents | 0 | [3] | 0 | [3] | 0 | ||
Short term investments | 0 | [3] | 0 | [3] | 0 | ||
Cash Equivalents | 0 | [3] | 0 | [3] | 0 | ||
Certificates of deposit (1) | 0 | [3] | $ 0 | ||||
Money Market Funds [Member] | |||||||
Cash Equivalents | [4] | 190,734 | 188,769 | ||||
Cash Equivalents | [4] | 190,734 | 188,769 | ||||
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash Equivalents | [4] | 0 | 0 | ||||
Cash Equivalents | [4] | 0 | 0 | ||||
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash Equivalents | [4] | 190,734 | 188,769 | ||||
Cash Equivalents | [4] | 190,734 | 188,769 | ||||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash Equivalents | [4] | 0 | 0 | ||||
Cash Equivalents | [4] | 0 | 0 | ||||
Company Earn-Outs [Member] | |||||||
Liabilities | 6,922 | [1] | 6,631 | [2] | |||
Company Earn-Outs [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Company Earn-Outs [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Company Earn-Outs [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Liabilities | $ 6,922 | [1] | $ 6,631 | [2] | |||
[1]Refer to “Note 11 — Earn-Out and Warrant Liabilities” for further details.[2]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 2. Refer to “Note 14 — Company Earn-Out and Warrant Liabilities” for further details.[3]The majority of certificates of deposit are foreign deposits.[4]Profits on securities for the three months ended March 31, 2023 and 2022 were $1.7 million and $0 million, respectively. |
Note 14 - Financial Instrumen_5
Note 14 - Financial Instruments - Reconciliation in Level 3 Instruments Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - Earn-out Shares Liabilities [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Opening balance | $ 6,631 | $ 10,012 |
Included in earnings | 109 | (4,165) |
Reclass from Earnout-RSU | 182 | 784 |
Closing balance | $ 6,922 | $ 6,631 |
Note 15 - Segment Information_2
Note 15 - Segment Information (Details Textual) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Number of Operating Segments | 1 | 1 |
Note 15 - Segment Information -
Note 15 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 59,572 | $ 50,291 | $ 232,339 | $ 191,909 | $ 151,533 |
North America [Member] | |||||
Revenue | 24,436 | 21,709 | 102,025 | 83,034 | 67,823 |
UNITED STATES | |||||
Revenue | 23,518 | 21,709 | 100,870 | 83,034 | 67,823 |
EMEA [Member] | |||||
Revenue | 19,488 | 15,342 | 71,635 | 58,285 | 42,441 |
GERMANY | |||||
Revenue | 8,655 | 5,971 | 30,625 | 23,574 | 17,650 |
Asia Pacific [Member] | |||||
Revenue | 15,648 | 13,240 | 58,679 | 50,590 | 41,269 |
SINGAPORE | |||||
Revenue | 6,437 | 4,200 | 21,915 | 16,580 | 15,376 |
JAPAN | |||||
Revenue | $ 5,375 | $ 5,895 | $ 21,348 | $ 23,360 | $ 17,331 |
Note 16 - Loss Per Share - Loss
Note 16 - Loss Per Share - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (9,182) | $ (11,053) | $ (38,688) | $ (33,245) | $ (16,969) |
Net income attributable to and accretion of redeemable noncontrolling interest | (15) | (617) | (2,942) | (1,974) | (27) |
Net loss attributable to AvePoint, Inc. | (9,197) | (11,670) | (41,630) | (35,219) | (16,996) |
Total net loss available to common shareholders | $ (9,197) | $ (11,670) | $ (41,630) | $ (68,147) | $ (51,442) |
Weighted average common shares outstanding (in shares) | 182,818 | 182,833 | 181,957 | 141,596 | 89,638 |
Effect of dilutive securities (in shares) | 0 | 0 | 0 | 0 | 0 |
Weighted average diluted shares (in shares) | 182,818 | 182,833 | 181,957 | 141,596 | 89,638 |
Basic and diluted loss per share (in dollars per share) | $ (0.05) | $ (0.06) | $ (0.23) | $ (0.48) | $ (0.57) |
Note 16 - Loss Per Share - Anti
Note 16 - Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive securities (in shares) | 63,588 | 60,711 | 58,566 | 56,552 | 76,858 |
Share-Based Payment Arrangement, Option [Member] | |||||
Antidilutive securities (in shares) | 29,437 | 30,437 | 29,168 | 30,480 | 34,857 |
Restricted Stock Units (RSUs) [Member] | |||||
Antidilutive securities (in shares) | 13,246 | 9,369 | 8,493 | 5,167 | 0 |
Warrant [Member] | |||||
Antidilutive securities (in shares) | 17,905 | 17,905 | 17,905 | 17,905 | 0 |
Company Earn-Outs [Member] | |||||
Antidilutive securities (in shares) | 3,000 | 3,000 | 3,000 | 3,000 | 0 |
Note 2 - Summary of Significa_9
Note 2 - Summary of Significant Accounting Policies (10K) 1 (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jan. 01, 2022 USD ($) | Feb. 11, 2021 | Dec. 24, 2020 | |
Operating Lease, Right-of-Use Asset | $ 16,984 | $ 15,855 | $ 0 | |||||
Operating Lease, Liability, Current | 5,800 | $ 5,400 | ||||||
Number of Reporting Units | 1 | |||||||
Goodwill, Impairment Loss | 0 | $ 0 | ||||||
Goodwill, Ending Balance | $ 18,871 | $ 18,904 | 0 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 8 months 12 days | 7 years 7 months 6 days | ||||||
Gain (Loss), Foreign Currency Transaction, before Tax | $ 300 | $ 200 | ||||||
Cash | 7,800 | $ 10,800 | 9,300 | |||||
Prepaid Expense | 7,100 | 5,700 | ||||||
Tangible Asset Impairment Charges, Total | 0 | 0 | $ 0 | |||||
Capitalized Contract Cost, Impairment Loss | 0 | 0 | 0 | |||||
Capitalized Contract Cost, Amortization | 4,200 | 3,000 | 13,400 | 9,500 | 10,500 | |||
Capitalized Contract Cost, Net | 47,794 | 48,553 | 38,926 | 31,943 | ||||
Capitalized Computer Software, Net, Ending Balance | 0 | 0 | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 59,572 | 50,291 | 232,339 | 191,909 | 151,533 | |||
Contract with Customer, Liability | 99,189 | 101,490 | $ 82,332 | 74,688 | ||||
Contract with Customer, Liability, Revenue Recognized | 35,000 | $ 72,300 | ||||||
Revenue, Remaining Performance Obligation, Amount | $ 238,600 | |||||||
AvePoint EduTech PTE. LTD. [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 73.82% | 76.09% | 76.09% | 77.78% | ||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.91% | 22.22% | ||||||
AvePoint EduTech PTE. LTD. [Member] | AEPL PTE. LTD. [Member] | ||||||||
Investment Owned, at Cost | $ 8,300 | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.20% | 23.91% | ||||||
AvePoint EduTech PTE. LTD. [Member] | I-Access Solutions Pte. Ltd. [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 2.98% | |||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||||||
Open Tax Year | 2019 | 2018 2019 2020 2021 | ||||||
State and Local Jurisdiction [Member] | ||||||||
Open Tax Year | 2022 | 2018 2019 2020 2021 | ||||||
Foreign Tax Authority [Member] | ||||||||
Open Tax Year | 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 | 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 | ||||||
Termed License and Support [Member] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 10,904 | 10,202 | $ 57,214 | $ 50,970 | 38,949 | |||
Revenue, Remaining Performance Obligation, Amount | 186,300 | |||||||
SaaS [Member | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,512 | 26,553 | 117,180 | 85,580 | 52,074 | |||
Revenue, Remaining Performance Obligation, Amount | 237,800 | |||||||
Transferred at Point in Time [Member] | Termed License and Support [Member] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,900 | $ 6,200 | $ 40,000 | 39,700 | 32,400 | |||
Furniture and Fixtures [Member] | ||||||||
Property, Plant and Equipment, Useful Life (Year) | 7 years | |||||||
Building [Member] | ||||||||
Property, Plant and Equipment, Useful Life (Year) | 40 years | |||||||
Office Equipment [Member] | ||||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||||||
Software Development Sold to Customers [Member] | ||||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||||||
Other Nonoperating Income (Expense) [Member] | ||||||||
Gain (Loss), Foreign Currency Transaction, before Tax | $ 100 | $ (900) | $ (600) | |||||
Minimum [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | 1 year | ||||||
Maximum [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 10 years | ||||||
Accounting Standards Update 2016-02 [Member] | ||||||||
Operating Lease, Right-of-Use Asset | $ 13,900 | |||||||
Deferred Rent Credit | 600 | |||||||
Operating Lease, Liability, Total | 14,500 | |||||||
Operating Lease, Liability, Current | $ 3,600 |
Note 2 - Summary of Signific_10
Note 2 - Summary of Significant Accounting Policies (10K) 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Mar. 31, 2023 | Dec. 31, 2022 |
Revenue, Remaining Performance Obligation, Percentage | 64% | 64% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month) | 12 months | 12 months |
Note 2 - Summary of Signific_11
Note 2 - Summary of Significant Accounting Policies - Revenue by Source (10K) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 59,572 | $ 50,291 | $ 232,339 | $ 191,909 | $ 151,533 |
SaaS [Member | |||||
Revenue | 35,512 | 26,553 | 117,180 | 85,580 | 52,074 |
Termed License and Support [Member] | |||||
Revenue | 10,904 | 10,202 | 57,214 | 50,970 | 38,949 |
Service [Member] | |||||
Revenue | 9,747 | 8,925 | 41,283 | 31,919 | 34,140 |
Maintenance [Member] | |||||
Revenue | $ 3,409 | $ 4,611 | 15,868 | 21,022 | 23,462 |
License [Member] | |||||
Revenue | $ 794 | $ 2,418 | $ 2,908 |
Note 2 - Summary of Signific_12
Note 2 - Summary of Significant Accounting Policies - Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions (10K) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Opening, accounts receivable, net | [1] | $ 61,335 | $ 53,749 |
Opening, deferred revenue | 82,332 | 74,688 | |
Opening, deferred sales commissions | 38,926 | 31,943 | |
Closing, accounts receivable, net | [1] | 73,348 | 61,335 |
Closing, deferred revenue | 101,490 | 82,332 | |
Closing, deferred sales commissions | 48,553 | 38,926 | |
Increase/(decrease), accounts receivable, net | [1] | 12,013 | 7,586 |
Increase/(decrease), deferred revenue | 19,158 | 7,644 | |
Increase/(decrease), deferred sales commissions | $ 9,627 | $ 6,983 | |
[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_2
Note 3 - Business Combination (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Sep. 12, 2022 USD ($) shares | Aug. 25, 2022 USD ($) | Apr. 15, 2022 USD ($) shares | Feb. 18, 2022 USD ($) shares | Jul. 26, 2021 USD ($) $ / shares shares | Mar. 31, 2023 USD ($) $ / shares shares | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) | Jul. 01, 2021 USD ($) | Nov. 23, 2020 | |
Business Combination, Share Exchange Ratio | 8.69144 | |||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||
Payments for Exchange of Common Stock in Business Combination | $ 106,200 | |||||||||||
Stock Repurchased During Period, Shares (in shares) | shares | 10,602,105 | |||||||||||
Common Stock, Shares Authorized (in shares) | shares | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | ||||||||
Preferred Stock, Shares Authorized (in shares) | shares | 20,000,000 | 20,000,000 | ||||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares | 180,272,638 | 186,788,000 | 185,277,588 | 181,821,767 | ||||||||
Class of Warrant or Right, Outstanding (in shares) | shares | 17,905,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 11.50 | |||||||||||
Cash Acquired in Excess of Payments to Acquire Business | $ 204,500 | |||||||||||
Business Combination, Acquisition Related Costs | $ 56,200 | |||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 6,900 | $ 6,600 | $ 10,000 | $ 29,600 | ||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 100 | 4,300 | 20,300 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 1,517 | 0 | $ 0 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 0 | $ 1,473 | 18,572 | $ 0 | $ 0 | |||||||
Subscription Agreements [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 14,000,000 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 10 | |||||||||||
Proceeds from Issuance of Common Stock | $ 140,000 | |||||||||||
Conversion of Legacy AvePoint Common Stock into Common Stock [Member] | ||||||||||||
Conversion of Stock, Shares Issued (in shares) | shares | 103,831,523 | |||||||||||
Conversion of Apec Class A Common Stock into Common Stock [Member] | ||||||||||||
Conversion of Stock, Shares Issued (in shares) | shares | 34,982,628 | |||||||||||
Conversion of Apec Class B Common Stock into Common Stock [Member] | ||||||||||||
Conversion of Stock, Shares Issued (in shares) | shares | 9,560,000 | |||||||||||
Conversion of Legacy AvePoint Preferred Stock into Common Stock [Member] | ||||||||||||
Conversion of Stock, Shares Issued (in shares) | shares | 28,500,592 | |||||||||||
Conversion of Stock, Amount Issued | $ 130,900 | |||||||||||
Merger [Member] | ||||||||||||
Business Combination, Share Exchange Ratio | 8.69144 | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | ||||||||||||
Business Combination, Acquisition Related Costs | $ 300 | |||||||||||
Business Combination, Consideration Transferred, Total | 7,100 | |||||||||||
Payments to Acquire Businesses, Gross | 1,500 | |||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 5,800 | $ 5,600 | ||||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 200 | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | Technology-Based Intangible Assets [Member] | ||||||||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | Customer-Related Intangible Assets [Member] | Minimum [Member] | ||||||||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 1 year | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | Customer-Related Intangible Assets [Member] | Maximum [Member] | ||||||||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | EduTech Common Shares [Member] | ||||||||||||
Business Combination, Contingent Consideration, Percentage of Shares | 2.98% | |||||||||||
Stock Issued During Period, Shares, Acquisitions (in shares) | shares | 292,440 | |||||||||||
Business Acquisition, Shares Held in Escrow (in shares) | shares | 30,252 | |||||||||||
Stock Issued for Acquisitions, No Longer Contingent and Reclassified to Mezzanine Equity (in shares) | shares | 292,440 | |||||||||||
Business Acquisition, Shares Held in Escrow, No Longer Contingent and Reclassified to Mezzanine Equity (in shares) | shares | 30,252 | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | Put Option to Repurchase Shares [Member] | ||||||||||||
Business Acquisition, Conditional Option to Repurchase Shares | $ 5,900 | |||||||||||
Business Acquisition, Conditional Option to Repurchase Shares, Period (Month) | 24 months | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | Revenue Surplus [Member] | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 700 | |||||||||||
I-Access Solutions Pte. Ltd. [Member] | Revenue Shortfall [Member] | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 700 | |||||||||||
Essential [Member] | ||||||||||||
Business Combination, Consideration Transferred, Total | $ 3,000 | |||||||||||
tyGraph [Member] | ||||||||||||
Business Combination, Acquisition Related Costs | $ 400 | |||||||||||
Business Combination, Consideration Transferred, Total | 15,300 | |||||||||||
Payments to Acquire Businesses, Gross | $ 13,800 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 324,845 | |||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,500 | |||||||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 13,500 | |||||||||||
Other Payments to Acquire Businesses | 200 | |||||||||||
tyGraph [Member] | Maximum [Member] | ||||||||||||
Business Acquisition, Transaction Costs | $ 100 | |||||||||||
tyGraph [Member] | Technology-Based Intangible Assets [Member] | ||||||||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 6 years | |||||||||||
tyGraph [Member] | Customer-Related Intangible Assets [Member] | Maximum [Member] | ||||||||||||
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years |
Note 3 - Business Combination -
Note 3 - Business Combination - Weighted Average Assumptions (Details) | Mar. 31, 2023 | Dec. 31, 2022 | Apr. 15, 2022 | Feb. 18, 2022 | Dec. 31, 2021 | Jul. 01, 2021 |
Measurement Input, Expected Term [Member] | ||||||
Expected life (in years) | 5.25 | 5.50 | 6.50 | 7 | ||
Measurement Input, Expected Term [Member] | I-Access Solutions Pte. Ltd. [Member] | ||||||
Expected life (in years) | 1.93 | 2.08 | ||||
Measurement Input, Price Volatility [Member] | ||||||
Expected life (in years) | 0.5500 | 0.5500 | 0.4000 | 0.4000 | ||
Measurement Input, Price Volatility [Member] | I-Access Solutions Pte. Ltd. [Member] | ||||||
Expected life (in years) | 0.50 | 0.50 | ||||
Measurement Input, Risk Free Interest Rate [Member] | I-Access Solutions Pte. Ltd. [Member] | ||||||
Expected life (in years) | 0.0183 | 0.0123 | ||||
Measurement Input, Expected Dividend Rate [Member] | I-Access Solutions Pte. Ltd. [Member] | ||||||
Expected life (in years) | 0 | 0 |
Note 3 - Business Combination_3
Note 3 - Business Combination - Preliminary Fair Value of Asset Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 12, 2022 | Feb. 18, 2022 | Dec. 31, 2021 |
Goodwill, Ending Balance | $ 18,871 | $ 18,904 | $ 0 | ||
I-Access Solutions Pte. Ltd. [Member] | |||||
Accounts receivable, net | $ 429 | ||||
Prepaid expenses and other current assets | 72 | ||||
Property and equipment | 22 | ||||
Goodwill, Ending Balance | 3,950 | ||||
Other assets | 997 | ||||
Accrued expenses and other liabilities | (718) | ||||
Current portion of deferred revenue | (230) | ||||
Other non-current liabilities | (1,072) | ||||
Total purchase consideration | 7,109 | ||||
I-Access Solutions Pte. Ltd. [Member] | Technology-Based Intangible Assets [Member] | |||||
Intangible | 2,750 | ||||
Customer related assets | 2,750 | ||||
I-Access Solutions Pte. Ltd. [Member] | Customer Relationships [Member] | |||||
Intangible | 909 | ||||
Customer related assets | $ 909 | ||||
tyGraph [Member] | |||||
Accounts receivable, net | $ 449 | ||||
Prepaid expenses and other current assets | 262 | ||||
Property and equipment | 30 | ||||
Goodwill, Ending Balance | 12,193 | ||||
Other assets | 219 | ||||
Accrued expenses and other liabilities | (93) | ||||
Current portion of deferred revenue | (2,079) | ||||
Other non-current liabilities | (1,724) | ||||
Total purchase consideration | 15,335 | ||||
Accrued expenses and other liabilities | (342) | ||||
tyGraph [Member] | Technology-Based Intangible Assets [Member] | |||||
Intangible | 2,552 | ||||
Customer related assets | 2,552 | ||||
tyGraph [Member] | Customer Relationships [Member] | |||||
Intangible | 3,868 | ||||
Customer related assets | $ 3,868 |
Note 4 - Goodwill - Changes in
Note 4 - Goodwill - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 18,904 | $ 0 |
Acquisitions | 19,167 | |
Effect of foreign currency translation | (33) | (263) |
Balance | $ 18,871 | $ 18,904 |
Note 5 - Intangible Assets, N_3
Note 5 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Amortization of Intangible Assets | $ 500 | $ 100 | $ 1,400 | $ 0 |
Note 5 - Intangible Assets, N_4
Note 5 - Intangible Assets, Net - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
2023 | $ 1,961 | $ 1,981 | |
2024 | 1,573 | 1,869 | |
2025 | 1,163 | 1,480 | |
2026 | 1,136 | 1,135 | |
2027 | 1,132 | ||
Thereafter | 3,482 | ||
Total intangible assets subject to amortization | $ 10,848 | $ 11,079 | $ 0 |
Note 5 - Intangible Assets, N_5
Note 5 - Intangible Assets, Net - Summary of Balances of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Gross carrying amount | $ 12,433 | $ 12,471 | $ 0 |
Accumulated amortization | (1,585) | (1,392) | 0 |
Net carrying amount | $ 10,848 | $ 11,079 | 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 8 months 12 days | 7 years 7 months 6 days | |
Technology-Based Intangible Assets [Member] | |||
Gross carrying amount | $ 7,129 | $ 6,842 | 0 |
Accumulated amortization | (1,081) | (777) | 0 |
Net carrying amount | $ 6,048 | $ 6,065 | 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 9 months 18 days | 6 years 10 months 24 days | |
Customer Relationships [Member] | |||
Gross carrying amount | $ 4,466 | $ 4,799 | 0 |
Accumulated amortization | (294) | (477) | 0 |
Net carrying amount | $ 4,172 | $ 4,322 | 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 9 years 4 months 24 days | |
Media Content [Member] | |||
Gross carrying amount | $ 838 | $ 830 | 0 |
Accumulated amortization | (210) | (138) | 0 |
Net carrying amount | $ 628 | $ 692 | $ 0 |
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | 3 years |
Note 6 - Concentration of Cre_2
Note 6 - Concentration of Credit Risk (Details Textual) - Customer Concentration Risk [Member] Pure in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contract with Customer Benchmark [Member] | ||||
Number of Major Customers | 0 | 0 | 0 | 0 |
Accounts Receivable [Member] | ||||
Number of Major Customers | 0 | 0 |
Note 7 - Accounts Receivable,_3
Note 7 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent, Total | $ 47,794 | $ 48,553 | $ 38,926 |
Other Assets [Member] | |||
Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent, Total | $ 6,900 | $ 6,300 |
Note 7 - Accounts Receivable,_4
Note 7 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Allowance for doubtful accounts | $ (847) | $ (725) | $ (838) |
Accounts receivable, net of allowance of $725 and $838 as of December 31, 2022 and December 31, 2021, respectively | 56,627 | 66,474 | 55,067 |
Trade Accounts Receivable [Member] | |||
Accounts receivable, gross | 35,841 | 47,046 | 38,819 |
Unbilled Receivable [Member] | |||
Accounts receivable, gross | $ 21,633 | $ 20,153 | $ 17,086 |
Note 8 - Property and Equipme_3
Note 8 - Property and Equipment, Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, Depletion and Amortization, Total | $ 2.1 | $ 1.2 | $ 1.1 |
Note 8 - Property and Equipme_4
Note 8 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment, Gross, Ending Balance | $ 12,783 | $ 11,206 | |
Less accumulated depreciation and amortization | (7,246) | (7,284) | |
Property, Plant and Equipment, Net | $ 5,176 | 5,537 | 3,922 |
Computer Equipment [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 6,079 | 5,777 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 3,823 | 2,769 | |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 1,316 | 1,102 | |
Building [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 725 | 786 | |
Office Equipment [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | 493 | 394 | |
Software and Software Development Costs [Member] | |||
Property, Plant and Equipment, Gross, Ending Balance | $ 347 | $ 378 |
Note 9 - Accrued Expenses and_3
Note 9 - Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Accrued compensation | $ 26,585 | $ 22,740 | |
Current operating lease liabilities | $ 5,800 | 5,400 | |
Indirect taxes | 3,638 | 3,945 | |
Cloud service fees | 2,285 | 1,314 | |
Professional service fees | 1,464 | 1,033 | |
Accrued partner expenses | 1,445 | 903 | |
Income taxes payable | 1,055 | 1,197 | |
Other | 5,920 | 3,930 | |
Accrued Liabilities and Other Liabilities | $ 35,057 | 47,784 | 35,062 |
Accrued Expenses and Other Liabilities [member] | |||
Current operating lease liabilities | $ 5,392 | $ 0 |
Note 10 - Line of Credit (Detai
Note 10 - Line of Credit (Details Textual) - HSBC Venture Bank USA Inc. [Member] - USD ($) $ in Thousands | 33 Months Ended | 36 Months Ended | |
Apr. 07, 2020 | Dec. 31, 2022 | Mar. 31, 2023 | |
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 | $ 0 | |
Revolving Credit Facility [Member] | London Interbank Offered Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.50% | ||
Line of Credit, Accordion Feature [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | ||
Deferred Tax Assets, Valuation Allowance | $ 20,808 | $ 8,356 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 12,500 | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 0 | ||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 935 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 200 | 1,300 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 0 | $ 0 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards | $ 14,600 | ||
Open Tax Year | 2022 | 2018 2019 2020 2021 | |
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards | $ 54,500 | ||
Tax Credit Carryforward, Amount | $ 300 | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2023 | ||
Open Tax Year | 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 | 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Open Tax Year | 2019 | 2018 2019 2020 2021 |
Note 11 - Income Taxes - Pretax
Note 11 - Income Taxes - Pretax Loss Resulting from Domestic and Foreign Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Domestic | $ (17,081) | $ (23,583) | $ (19,107) | ||
Foreign | (16,569) | (9,205) | 3,200 | ||
Loss before income taxes | $ (7,204) | $ (10,744) | $ (33,650) | $ (32,788) | $ (15,907) |
Note 11 - Income Taxes - Compon
Note 11 - Income Taxes - Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Federal | $ 1,937 | $ 467 | $ 0 | ||
State and local | 668 | (881) | 411 | ||
Foreign | (1,478) | 1,117 | 1,096 | ||
Total current income tax expense | 1,127 | 703 | 1,507 | ||
Federal | 2,370 | 89 | (175) | ||
State and local | (820) | (12) | (843) | ||
Foreign | 2,361 | (323) | 573 | ||
Total deferred income tax expense (benefit) | 3,911 | (246) | (445) | ||
Total | $ 1,978 | $ 309 | $ 5,038 | $ 457 | $ 1,062 |
Note 11 - Income Taxes - Reconc
Note 11 - Income Taxes - Reconciliation of Amounts of US Federal Statutory Income Tax Rate to Effective Income Tax Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
U.S. federal statutory tax rate | $ (7,067) | $ (6,886) | $ (3,340) | ||
State and local income taxes, net | (292) | (962) | (519) | ||
Stock-based compensation | (51) | 10,865 | 6,770 | ||
Executive compensation limitation | 3,566 | 0 | 0 | ||
Fair value of earnout liability | (828) | (3,946) | 0 | ||
Transaction costs | 125 | (2,209) | 0 | ||
Change in valuation allowance | 12,844 | 3,085 | (3,216) | ||
Foreign rate differential | (2,066) | 440 | 1,575 | ||
Return-to-provision adjustments | (1,029) | (196) | (538) | ||
Permanent differences | 29 | 334 | 65 | ||
Other, net | (193) | (68) | 265 | ||
Total | $ 1,978 | $ 309 | $ 5,038 | $ 457 | $ 1,062 |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Net operating loss carryforwards | $ 13,775 | $ 10,716 |
Deferred revenue | 4,301 | 5,315 |
Compensation and benefits | 6,567 | 4,384 |
Research and development expenses | 6,169 | 0 |
Lease liability | 3,622 | 0 |
Foreign tax credits | 270 | 720 |
Fair value of earnout liability | 93 | 181 |
Other | 457 | 1,047 |
Deferred Tax Assets, Gross | 35,254 | 22,363 |
Less: Valuation allowance | (20,808) | (8,356) |
Deferred tax assets, net | 14,446 | 14,007 |
Property and equipment | 197 | 132 |
Amortization | 2,595 | 214 |
Commissions | 8,384 | 7,918 |
Prepaid subscription | (836) | (822) |
Unbilled receivable | (1,489) | (2,183) |
Right-of-use assets | (3,402) | 0 |
Total deferred tax liability | (16,903) | (11,269) |
Net deferred tax liability | (2,457) | |
Net deferred tax (liabilities) assets | 2,738 | |
Deferred tax assets, net of valuation allowance | 14,446 | 14,007 |
Deferred tax liabilities | (16,903) | (11,269) |
Other Assets [Member] | ||
Deferred tax assets, net | 488 | 3,182 |
Deferred tax assets, net of valuation allowance | 488 | 3,182 |
Other Noncurrent Liabilities [Member] | ||
Total deferred tax liability | (2,945) | (444) |
Deferred tax liabilities | $ (2,945) | $ (444) |
Note 11 - Income Taxes - Reco_2
Note 11 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning balance | $ 1,088 | $ 5,369 |
Additions based on tax positions related to the current year | 0 | 0 |
Reduction for tax positions of prior years | (12) | (4,281) |
Reduction for settlements | (935) | 0 |
Expiration of applicable statute of limitations | 0 | 0 |
Ending balance | $ 141 | $ 1,088 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 2.6 | $ 6.9 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 3 months 18 days | 4 years 4 months 24 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 5.50% | 5.10% | |
Operating Lease, Liability, Current | $ 5.8 | $ 5.4 | |
Operating Lease, Expense | $ 5.6 | $ 6.4 |
Note 12 - Leases - Components o
Note 12 - Leases - Components of Operating Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Lease liability cost | $ 1,749 | $ 1,151 | $ 5,945 | |
Short-term lease expenses (1) | [1] | 248 | 814 | 1,760 |
Variable lease cost not included in the lease liability (2) | [2] | 110 | 32 | 261 |
Total lease cost | $ 2,107 | $ 1,997 | $ 7,966 | |
[1]Short-term lease expenses include rent expenses from leases of 12 months or less on the transition date or lease commencement.[2]Variable lease cost includes common area maintenance, property taxes, and fluctuations in rent due to a change in an index or rate. |
Note 12 - Leases - Other Inform
Note 12 - Leases - Other Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Operating cash flows from operating leases | $ 2,046 | $ 1,354 | $ 5,626 |
Note 12 - Leases - Maturity Sch
Note 12 - Leases - Maturity Schedule of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | ||
2023 | $ 5,171 | $ 6,104 | ||
2024 | 3,590 | 4,360 | ||
2025 | 2,499 | 2,817 | ||
2026 | 1,709 | 2,159 | ||
2027 | 1,373 | |||
Thereafter | 1,887 | |||
Total future lease payments | 19,757 | 18,700 | ||
Less: Present value adjustment | (2,186) | (1,960) | ||
Long-term Operating Lease Liabilities [Member] | ||||
Present value of future lease payments (1) | $ 17,571 | [1] | $ 16,740 | [2] |
[1]Includes the current portion of operating lease liabilities of $5.8 million, which is reflected in accrued expenses and other liabilities in the condensed consolidated balance sheets.[2]Includes the current portion of operating lease liabilities of $5.4 million, which is reflected in accrued expenses and other liabilities in the consolidated balance sheets. |
Note 12 - Leases - Operating Le
Note 12 - Leases - Operating Leases (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2022 | $ 5,680 |
2023 | 3,808 |
2024 | 2,428 |
2025 | 1,840 |
2026 | 1,438 |
Thereafter | 2,960 |
Operating Leases, Future Minimum Payments Due | $ 18,154 |
Note 13 - Commitments and Con_3
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2022 | May 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2023 | Jul. 31, 2022 | Apr. 30, 2019 | |
Unrecorded Unconditional Purchase Obligation, Total | $ 100,239 | $ 100,239 | |||||||
Payments for Unconditional Purchase Commitment | $ 3,800 | ||||||||
Guarantee for Service Agreement [Member] | |||||||||
Letters of Credit Outstanding, Amount | 2,400 | 2,400 | $ 2,600 | ||||||
Microsoft Office 365 [Member] | |||||||||
Unrecorded Unconditional Purchase Obligation, Total | $ 6,100 | $ 2,100 | |||||||
Payments for Unconditional Purchase Commitment | 1,900 | $ 700 | 700 | $ 700 | |||||
IT solutions [Member] | |||||||||
Unrecorded Unconditional Purchase Obligation, Total | $ 96,000 | $ 22,000 | 96,000 | ||||||
Unrecorded Unconditional Purchase Obligation, Term (Year) | 3 years | 3 years | |||||||
Payments for Unconditional Purchase Commitment | $ 19,100 | $ 12,100 | $ 3,100 |
Note 13 - Commitments and Con_4
Note 13 - Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 2,026 |
2024 | 2,213 |
2025 | 96,000 |
2026 | 0 |
2027 | 0 |
Thereafter | 0 |
Unrecorded Unconditional Purchase Obligation | $ 100,239 |
Note 14 - Company Earn-Out an_3
Note 14 - Company Earn-Out and Warrant Liabilities (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jul. 26, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | 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 | $ 6,900 | $ 6,600 | $ 10,000 | $ 29,600 | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 100 | 4,300 | 20,300 | |||
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 | 200 | 200 | 500 | $ 1,400 | ||
Fair Value Adjustment of Warrants | $ 0 | $ 100 | $ 200 | $ 900 |
Note 14 - Company Earn-Out an_4
Note 14 - Company Earn-Out and Warrant Liabilities - Earn-out Shares Fair Value Assumptions (Details) | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 01, 2021 |
Measurement Input, Expected Term [Member] | ||||
Measurement input | 5.25 | 5.50 | 6.50 | 7 |
Measurement Input, Price Volatility [Member] | ||||
Measurement input | 0.5500 | 0.5500 | 0.4000 | 0.4000 |
Note 15 - Mezzanine Equity an_3
Note 15 - Mezzanine Equity and Stockholders' Equity (Deficiency) (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Apr. 15, 2022 shares | Feb. 18, 2022 USD ($) | Jul. 01, 2021 USD ($) $ / shares shares | Feb. 11, 2021 USD ($) | Mar. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) $ / shares shares | Mar. 17, 2022 USD ($) | Jul. 26, 2021 $ / shares shares | Dec. 24, 2020 USD ($) | |
Common Stock, Shares Authorized (in shares) | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | |||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||
Common Stock, Shares, Issued (in shares) | 186,788,000 | 185,277,588 | 181,821,767 | ||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 186,788,000 | 185,277,588 | 181,821,767 | 180,272,638 | |||||||
Business Combination, Share Exchange Ratio | 8.69144 | ||||||||||
Number of Shares Subject to Vesting Provision (in shares) | 2,916,700 | 0 | 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 | ||||||||||
Preferred Stock, Shares Authorized (in shares) | 20,000,000 | 20,000,000 | |||||||||
Preferred Stock, Shares Outstanding (in shares) | 0 | ||||||||||
Preferred Stock, Shares Issued (in shares) | 0 | ||||||||||
Preferred Stock, Liquidation Preference, Value | $ | $ 403,400 | ||||||||||
Dividends, Preferred Stock | $ | $ 0 | $ 0 | |||||||||
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total | $ | $ 14,057 | $ 14,007 | 5,210 | $ 7,500 | |||||||
Redeemable Noncontrolling Interest, Increase from Contribution by Noncontrolling Interest | $ | $ 800 | ||||||||||
I-Access Solutions Pte. Ltd. [Member] | |||||||||||
Business Combination, Consideration Transferred, Total | $ | $ 7,100 | ||||||||||
I-Access Solutions Pte. Ltd. [Member] | EduTech Common Shares [Member] | |||||||||||
Stock Issued for Acquisitions, No Longer Contingent and Reclassified to Mezzanine Equity (in shares) | 292,440 | ||||||||||
Business Acquisition, Shares Held in Escrow, No Longer Contingent and Reclassified to Mezzanine Equity (in shares) | 30,252 | ||||||||||
AvePoint EduTech PTE. LTD. [Member] | I-Access Solutions Pte. Ltd. [Member] | |||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | ||||||||||
Business Combination, Consideration Transferred, Total | $ | $ 7,100 | ||||||||||
Business Acquisition, Conditional Option to Repurchase Shares | $ | $ 5,900 | ||||||||||
Business Acquisition, Conditional Option to Repurchase Shares, Period (Month) | 24 months | ||||||||||
AvePoint EduTech PTE. LTD. [Member] | |||||||||||
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total | $ | $ 14,007 | $ 5,210 | |||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 76.09% | 73.82% | 76.09% | 77.78% | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.91% | 22.22% | |||||||||
AvePoint EduTech PTE. LTD. [Member] | AEPL PTE. LTD. [Member] | |||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.20% | 23.91% | |||||||||
AvePoint EduTech PTE. LTD. [Member] | I-Access Solutions Pte. Ltd. [Member] | |||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 2.98% | ||||||||||
Share Repurchase Program [Member] | |||||||||||
Stock Repurchase Program, Authorized Amount | $ | $ 150,000 | ||||||||||
Treasury Stock, Shares, Acquired (in shares) | 424,876 | 4,046,186 | |||||||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ / shares | $ 4.2635 | $ 4.92 | |||||||||
Convertible Preferred Stock [Member] | |||||||||||
Preferred Stock, Shares Authorized (in shares) | 42,000,592 | 42,000,592 | 42,000,592 | ||||||||
Preferred Stock, Shares Outstanding (in shares) | 42,000,592 | ||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||
Preferred Stock, Shares Issued (in shares) | 42,000,592 | ||||||||||
Public Warrant [Member] | |||||||||||
Class of Warrant or Right, Outstanding (in shares) | 17,500,000 | 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 15 - Mezzanine Equity an_4
Note 15 - Mezzanine Equity and Stockholders' Equity (Deficiency) - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning balance (December 31, 2021) | $ 14,007 | $ 5,210 | $ 5,210 | ||
Net income attributable to and accretion of redeemable noncontrolling interest | (15) | (617) | (2,942) | $ (1,974) | $ (27) |
Ending balance (December 31, 2022) | 14,057 | 14,007 | 5,210 | ||
AvePoint EduTech PTE. LTD. [Member] | |||||
Beginning balance (December 31, 2021) | $ 14,007 | $ 5,210 | 5,210 | ||
Issuance of redeemable noncontrolling interest in EduTech | 5,794 | ||||
Net income attributable to and accretion of redeemable noncontrolling interest | (401) | ||||
Other comprehensive income attributable to redeemable noncontrolling interest | 61 | ||||
Adjustment to present redemption value as of December 31, 2022 | 3,343 | ||||
Ending balance (December 31, 2022) | $ 14,007 | $ 5,210 |
Note 16 - Stock-based Compens_3
Note 16 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jul. 01, 2021 | Dec. 26, 2019 | Jul. 31, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 2,200 | $ 30 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.71 | $ 4.09 | $ 1.63 | |||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 25,500 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 29,436,670 | 29,167,803 | 30,480,317 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares) | 20,229,958 | 19,457,559 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 32,300 | $ 33,800 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | $ 31,400 | $ 32,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 680,385 | 1,799,665 | 5,141,331 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 2,000 | $ 6,600 | $ 40,000 | |||||
Put Option, Redemption Share (in shares) | 3,113,170 | |||||||
Put Option, Underlying Option (in shares) | 5,148,777 | |||||||
Liability Balance Related to Modified Options | $ 0 | |||||||
Liability Balance Related to Common Stock | $ 49,700 | |||||||
Share-Based Payment Arrangement, Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | 10 years | ||||||
Reclassifications of Temporary to Permanent Equity | 1,700 | |||||||
Share-based Payment Arrangement, Expense | 3,500 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 3,592,504 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 3 months 18 days | |||||||
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 Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,749,764 | 0 | ||||||
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) | $ 5.55 | $ 9.64 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 8,200 | $ 9,500 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 1,784,993 | 0 | ||||||
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 | $ 900 | 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 | |||||||
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 | 168,988 | ||||||
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 | ||||||
Restricted Stock [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised (in shares) | 521,486 | |||||||
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) | 22,573,555 | 20,298,497 | ||||||
The 2021 Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 10 months 24 days | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 6,349,464 | |||||||
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) | $ 4.22 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 73,200 | $ 53,000 |
Note 16 - Stock-based Compens_4
Note 16 - Stock-based Compensation - Stock-based Compensation (Details) - The 2006, 2016 and 2021 [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stock-based Compensation | $ 8,104 | $ 8,274 | $ 37,218 | $ 59,508 | $ 33,767 |
Cost of Sales [Member] | |||||
Stock-based Compensation | 670 | 578 | 2,640 | 3,477 | 592 |
Selling and Marketing Expense [Member] | |||||
Stock-based Compensation | 2,201 | 2,462 | 11,393 | 15,906 | 19,973 |
General and Administrative Expense [Member] | |||||
Stock-based Compensation | 4,382 | 4,484 | 19,398 | 24,063 | 12,916 |
Research and Development Expense [Member] | |||||
Stock-based Compensation | $ 851 | $ 750 | $ 3,787 | $ 16,062 | $ 286 |
Note 16 - Stock-based Compens_5
Note 16 - Stock-based Compensation - Stock Option Valuation Assumptions (Details) | 3 Months Ended | 12 Months Ended | ||
Jul. 01, 2021 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement, Option [Member] | The 2021 Plan [Member] | ||||
Expected term (in years) (Year) | 6 years 1 month 9 days | 6 years 1 month 9 days | 6 years 1 month 9 days | |
Expected volatility | 59.19% | 45.18% | 43.31% | |
Risk-free rate | 3.63% | 2.16% | 0.94% | |
Modified Options [Member] | ||||
Expected term (in years) (Year) | 4 years 1 month 6 days | |||
Expected volatility | 34.44% | |||
Risk-free rate | 0.79% |
Note 16 - Stock-based Compens_6
Note 16 - Stock-based Compensation - Option Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Balance, shares (in shares) | 29,167,803 | 30,480,317 | |
Balance, weighted average exercise price (in dollars per share) | $ 4.05 | $ 3.87 | |
Balance, weighted average remaining contractual life (Year) | 6 years 6 months 10 days | 2 years 9 months 29 days | |
Granted, shares (in shares) | 689,406 | ||
Granted, weighted average exercise price (in dollars per share) | $ 5.88 | ||
Exercised, shares (in shares) | (680,385) | (1,799,665) | (5,141,331) |
Exercised, weighted average exercise price (in dollars per share) | $ 1.57 | ||
Forfeited or expired, shares (in shares) | (202,255) | ||
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 4.94 | ||
Balance, shares (in shares) | 29,436,670 | 29,167,803 | 30,480,317 |
Balance, weighted average exercise price (in dollars per share) | $ 4.05 | $ 3.87 |
Note 16 - Stock-based Compens_7
Note 16 - Stock-based Compensation - Summary of Outstanding and Exercisable Stock Options (Details) | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding, stock options (in shares) | shares | 29,167,803 |
Outstanding, weighted average contractual life (Year) | 6 years 6 months 10 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 4.05 |
Exercisable, stock options (in shares) | shares | 19,457,559 |
Exercisable, weighted average contractual life (Year) | 5 years 8 months 26 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 2.96 |
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 | 5,964,947 |
Outstanding, weighted average contractual life (Year) | 3 years 8 months 4 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 1.28 |
Exercisable, stock options (in shares) | shares | 5,964,947 |
Exercisable, weighted average contractual life (Year) | 3 years 8 months 4 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 | 5,795,861 |
Outstanding, weighted average contractual life (Year) | 4 years 11 months 23 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 1.59 |
Exercisable, stock options (in shares) | shares | 5,519,215 |
Exercisable, weighted average contractual life (Year) | 4 years 11 months 1 day |
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 | 17,406,995 |
Outstanding, weighted average contractual life (Year) | 8 years 3 days |
Outstanding, weighed average exercise price (in dollars per share) | $ 5.82 |
Exercisable, stock options (in shares) | shares | 7,973,397 |
Exercisable, weighted average contractual life (Year) | 7 years 10 months 6 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 5.17 |
Note 16 - Stock-based Compens_8
Note 16 - Stock-based Compensation - Nonvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unvested, number of shares (in shares) | 5,167,479 | ||
Unvested, weighted average grant date fair value (in dollars per share) | $ 9.64 | ||
Granted, number of shares (in shares) | 5,749,764 | 0 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 5.55 | $ 9.64 | |
Vested, number of shares (in shares) | (1,784,993) | 0 | |
Vested, weighted average grant date fair value (in dollars per share) | $ 9.42 | ||
Forfeited, number of shares (in shares) | (739,707) | ||
Forfeited, weighted average grant date fair value (in dollars per share) | $ 7.17 | ||
Unvested, number of shares (in shares) | 8,392,543 | 5,167,479 | |
Unvested, weighted average grant date fair value (in dollars per share) | $ 7.10 | $ 9.64 |
Note 17 - Financial Instrumen_3
Note 17 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Securities, Available-for-Sale, Realized Gain (Loss) | $ 2,800 | $ 0 |
Note 17 - Financial Instrumen_4
Note 17 - Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Certificates of deposit (1) | $ 162 | ||||||
Total | $ 195,320 | 193,244 | $ 204,128 | ||||
Liabilities | 7,149 | 6,858 | 10,470 | ||||
Company Earn-Outs [Member] | |||||||
Liabilities | 6,631 | [1] | 10,012 | [2] | |||
Warrant Liabilities [Member] | |||||||
Liabilities | 227 | [1] | 227 | [1],[2] | 458 | [2] | |
Fair Value, Inputs, Level 1 [Member] | |||||||
Certificates of deposit (1) | 0 | ||||||
Total | 0 | 0 | 0 | ||||
Liabilities | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Company Earn-Outs [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Fair Value, Inputs, Level 1 [Member] | Warrant Liabilities [Member] | |||||||
Liabilities | 0 | [1] | 0 | [1],[2] | 0 | [2] | |
Fair Value, Inputs, Level 2 [Member] | |||||||
Certificates of deposit (1) | 162 | ||||||
Total | 195,320 | 193,244 | 204,128 | ||||
Liabilities | 227 | 227 | 458 | ||||
Fair Value, Inputs, Level 2 [Member] | Company Earn-Outs [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Fair Value, Inputs, Level 2 [Member] | Warrant Liabilities [Member] | |||||||
Liabilities | 227 | [1] | 227 | [1],[2] | 458 | [2] | |
Fair Value, Inputs, Level 3 [Member] | |||||||
Certificates of deposit (1) | 0 | ||||||
Total | 0 | 0 | 0 | ||||
Liabilities | 6,922 | 6,631 | 10,012 | ||||
Fair Value, Inputs, Level 3 [Member] | Company Earn-Outs [Member] | |||||||
Liabilities | 6,631 | [1] | 10,012 | [2] | |||
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member] | |||||||
Liabilities | 0 | [1] | 0 | [1],[2] | 0 | [2] | |
Certificates of Deposit [Member] | |||||||
Cash Equivalents | 1,707 | [3] | 1,693 | [3] | 1,433 | ||
Short term investments | 2,879 | [3] | 2,620 | [3] | 2,411 | ||
Certificates of deposit (1) | 162 | [3] | 285 | ||||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash Equivalents | 0 | [3] | 0 | [3] | 0 | ||
Short term investments | 0 | [3] | 0 | [3] | 0 | ||
Certificates of deposit (1) | 0 | [3] | 0 | ||||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash Equivalents | 1,707 | [3] | 1,693 | [3] | 1,433 | ||
Short term investments | 2,879 | [3] | 2,620 | [3] | 2,411 | ||
Certificates of deposit (1) | 162 | [3] | 285 | ||||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash Equivalents | 0 | [3] | 0 | [3] | 0 | ||
Short term investments | 0 | [3] | 0 | [3] | 0 | ||
Certificates of deposit (1) | 0 | [3] | 0 | ||||
US Treasury Securities [Member] | |||||||
Cash Equivalents | [4] | 199,999 | |||||
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash Equivalents | [4] | 0 | |||||
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash Equivalents | [4] | 199,999 | |||||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash Equivalents | [4] | $ 0 | |||||
Money Market Funds [Member] | |||||||
Cash Equivalents | [5] | 190,734 | 188,769 | ||||
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash Equivalents | [5] | 0 | 0 | ||||
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash Equivalents | [5] | 190,734 | 188,769 | ||||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash Equivalents | [5] | 0 | 0 | ||||
Company Earn-Outs [Member] | |||||||
Liabilities | 6,922 | [1] | 6,631 | [2] | |||
Company Earn-Outs [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Company Earn-Outs [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Liabilities | 0 | [1] | 0 | [2] | |||
Company Earn-Outs [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Liabilities | $ 6,922 | [1] | $ 6,631 | [2] | |||
[1]Refer to “Note 11 — Earn-Out and Warrant Liabilities” for further details.[2]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 2. Refer to “Note 14 — Company Earn-Out and Warrant Liabilities” for further details.[3]The majority of certificates of deposit are foreign deposits.[4]Profits on securities for the years ended December 31, 2022 and 2021, were $2.8 million and $0 million, respectively.[5]Profits on securities for the three months ended March 31, 2023 and 2022 were $1.7 million and $0 million, respectively. |
Note 17 - Financial Instrumen_5
Note 17 - Financial Instruments - Reconciliation in Level 3 Instruments Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - Earn-out Shares Liabilities [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Opening balance | $ 6,631 | $ 10,012 |
Included in earnings | 109 | (4,165) |
Reclass from Earnout-RSU | 182 | 784 |
Closing balance | $ 6,922 | $ 6,631 |
Note 18 - Segment Information_2
Note 18 - Segment Information (Details Textual) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Number of Operating Segments | 1 | 1 |
Note 18 - Segment Information -
Note 18 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 59,572 | $ 50,291 | $ 232,339 | $ 191,909 | $ 151,533 |
Property and equipment, net | 5,176 | 5,537 | 3,922 | ||
North America [Member] | |||||
Revenue | 24,436 | 21,709 | 102,025 | 83,034 | 67,823 |
UNITED STATES | |||||
Revenue | 23,518 | 21,709 | 100,870 | 83,034 | 67,823 |
Property and equipment, net | 1,279 | 923 | |||
EMEA [Member] | |||||
Revenue | 19,488 | 15,342 | 71,635 | 58,285 | 42,441 |
GERMANY | |||||
Revenue | 8,655 | 5,971 | 30,625 | 23,574 | 17,650 |
CHINA | |||||
Property and equipment, net | 2,982 | 2,376 | |||
Asia Pacific [Member] | |||||
Revenue | 15,648 | 13,240 | 58,679 | 50,590 | 41,269 |
JAPAN | |||||
Revenue | 5,375 | 5,895 | 21,348 | 23,360 | 17,331 |
Other Countries [Member] | |||||
Property and equipment, net | 1,276 | 623 | |||
SINGAPORE | |||||
Revenue | $ 6,437 | $ 4,200 | $ 21,915 | $ 16,580 | $ 15,376 |
Note 19 - Loss Per Share - Loss
Note 19 - Loss Per Share - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (9,182) | $ (11,053) | $ (38,688) | $ (33,245) | $ (16,969) |
Net income attributable to and accretion of redeemable noncontrolling interest | (15) | (617) | (2,942) | (1,974) | (27) |
Net loss attributable to AvePoint, Inc. | (9,197) | (11,670) | (41,630) | (35,219) | (16,996) |
Deemed dividends on preferred stock | 0 | (32,928) | (34,446) | ||
Total net loss available to common stockholders | $ (9,197) | $ (11,670) | $ (41,630) | $ (68,147) | $ (51,442) |
Weighted average common shares outstanding (in shares) | 182,818 | 182,833 | 181,957 | 141,596 | 89,638 |
Effect of dilutive securities (in shares) | 0 | 0 | 0 | 0 | 0 |
Weighted average diluted shares (in shares) | 182,818 | 182,833 | 181,957 | 141,596 | 89,638 |
Basic and diluted loss per share (in dollars per share) | $ (0.05) | $ (0.06) | $ (0.23) | $ (0.48) | $ (0.57) |
Note 19 - Loss Per Share - Anti
Note 19 - Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive securities (in shares) | 63,588 | 60,711 | 58,566 | 56,552 | 76,858 |
Convertible Preferred Stock [Member] | |||||
Antidilutive securities (in shares) | 0 | 0 | 42,001 | ||
Share-Based Payment Arrangement, Option [Member] | |||||
Antidilutive securities (in shares) | 29,437 | 30,437 | 29,168 | 30,480 | 34,857 |
Restricted Stock Units (RSUs) [Member] | |||||
Antidilutive securities (in shares) | 13,246 | 9,369 | 8,493 | 5,167 | 0 |
Warrant [Member] | |||||
Antidilutive securities (in shares) | 17,905 | 17,905 | 17,905 | 17,905 | 0 |
Company Earn-Outs [Member] | |||||
Antidilutive securities (in shares) | 3,000 | 3,000 | 3,000 | 3,000 | 0 |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 13, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 689,406 | |
Share-Based Payment Arrangement, Employee [Member] | Subsequent Event [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,125,374 | |
Share-Based Payment Arrangement, Employee [Member] | Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 6,349,464 | |
Share-Based Payment Arrangement, Employee [Member] | Subsequent Event [Member] | RSU and Option [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Including Options, Grants in Period, Fair Value | $ 29.6 |