Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 08, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001777921 | |
Entity Registrant Name | AvePoint, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-39048 | |
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 | 804 | |
Local Phone Number | 314-5903 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 185,290,143 | |
Warrant [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share | |
Trading Symbol | AVPTW | |
Security Exchange Name | NASDAQ | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.0001 per share | |
Trading Symbol | AVPT | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 215,489 | $ 223,162 |
Short-term investments | 3,795 | 3,721 |
Accounts receivable, net of allowance for doubtful accounts of $792 and $926, respectively | 73,404 | 85,877 |
Prepaid expenses and other current assets | 11,037 | 12,824 |
Total current assets | 303,725 | 325,584 |
Property and equipment, net | 4,906 | 5,118 |
Goodwill | 18,692 | 19,156 |
Intangible assets, net | 10,165 | 10,546 |
Operating lease right-of-use assets | 12,887 | 13,908 |
Deferred contract costs | 52,595 | 54,675 |
Other assets | 10,848 | 13,595 |
Total assets | 413,818 | 442,582 |
Liabilities, mezzanine equity, and stockholders’ equity | ||
Accounts payable | 7,347 | 1,384 |
Accrued expenses and other liabilities | 40,917 | 53,766 |
Current portion of deferred revenue | 115,197 | 121,515 |
Total current liabilities | 163,461 | 176,665 |
Long-term operating lease liabilities | 8,121 | 9,383 |
Long-term portion of deferred revenue | 7,372 | 7,741 |
Earn-out shares liabilities | 17,140 | 18,346 |
Other non-current liabilities | 4,976 | 5,603 |
Total liabilities | 201,070 | 217,738 |
Commitments and contingencies (Note 9) | ||
Mezzanine equity | ||
Redeemable noncontrolling interest | 0 | 6,038 |
Total mezzanine equity | 0 | 6,038 |
Common stock, $0.0001 par value; 1,000,000 shares authorized, 185,216 and 184,652 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively | 19 | 18 |
Additional paid-in capital | 677,926 | 667,881 |
Accumulated other comprehensive income | 2,693 | 3,196 |
Accumulated deficit | (469,517) | (460,496) |
Noncontrolling interest | 1,627 | 8,207 |
Total stockholders’ equity | 212,748 | 218,806 |
Total liabilities, mezzanine equity, and stockholders’ equity | $ 413,818 | $ 442,582 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Allowance for doubtful accounts | $ 792 | $ 926 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued (in shares) | 185,216,000 | 184,652,000 |
Common stock, shares outstanding (in shares) | 185,216,000 | 184,652,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue: | ||
Revenue | $ 74,534 | $ 59,572 |
Cost of revenue: | ||
Cost of revenue | 20,442 | 17,890 |
Gross profit | 54,092 | 41,682 |
Operating expenses: | ||
Sales and marketing | 29,939 | 26,851 |
General and administrative | 16,868 | 14,648 |
Research and development | 10,486 | 9,015 |
Total operating expenses | 57,293 | 50,514 |
Loss from operations | (3,201) | (8,832) |
Other income, net | 3,404 | 1,628 |
Income (loss) before income taxes | 203 | (7,204) |
Income tax expense | 2,157 | 1,978 |
Net loss | (1,954) | (9,182) |
Net (loss) income attributable to noncontrolling interest | (238) | 15 |
Net loss available to common shareholders | $ (1,716) | $ (9,197) |
Basic and diluted loss per share (in dollars per share) | $ (0.01) | $ (0.05) |
Basic and diluted shares used in computing loss per share (in shares) | 181,495 | 182,818 |
SaaS [Member] | ||
Revenue: | ||
Revenue | $ 51,311 | $ 35,512 |
Cost of revenue: | ||
Cost of revenue | 9,770 | 7,895 |
Termed License and Support [Member] | ||
Revenue: | ||
Revenue | 10,005 | 10,904 |
Cost of revenue: | ||
Cost of revenue | 416 | 461 |
Service [Member] | ||
Revenue: | ||
Revenue | 10,481 | 9,747 |
Cost of revenue: | ||
Cost of revenue | 10,073 | 9,351 |
Maintenance [Member] | ||
Revenue: | ||
Revenue | 2,737 | 3,409 |
Cost of revenue: | ||
Cost of revenue | $ 183 | $ 183 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net loss | $ (1,954) | $ (9,182) |
Other comprehensive (loss) income net of taxes | ||
Reclassification adjustment for net gains on available-for-sale securities included in net loss | (100) | 0 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (478) | 84 |
Total other comprehensive (loss) income | (578) | 84 |
Total comprehensive loss | (2,532) | (9,098) |
Comprehensive (loss) income attributable to noncontrolling interests | (311) | 50 |
Total comprehensive loss attributable to AvePoint, Inc. | $ (2,221) | $ (9,148) |
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] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Common [Member] |
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2022 | $ 14,007 | $ 14,007 | |||||||
Balance (in shares) at Dec. 31, 2022 | 185,277,588 | 4,189,750 | |||||||
Balance at Dec. 31, 2022 | $ 229,147 | $ 19 | $ 665,715 | $ (416,927) | $ 2,006 | $ (21,666) | |||
Proceeds from exercise of options (in shares) | 680,385 | 0 | |||||||
Proceeds from exercise of options | 1,131 | 0 | 1,131 | 0 | 0 | $ 0 | |||
Common stock issued upon vesting of restricted stock units (in shares) | 1,254,710 | 0 | |||||||
Common stock issued upon vesting of restricted stock units | 0 | 0 | 0 | 0 | 0 | $ 0 | |||
Stock-based compensation expense | 8,104 | 0 | 8,104 | 0 | 0 | 0 | |||
Reclassification of earn-out RSUs to earn-out shares | (182) | 0 | (182) | 0 | 0 | 0 | |||
Net loss | (9,182) | 0 | 0 | (9,182) | 0 | ||||
Reclassification adjustment for net gains on available-for-sale securities included in net loss | 0 | ||||||||
Temporary Equity, Foreign Currency Translation Adjustments | 35 | 35 | |||||||
Foreign currency translation adjustments | 49 | 0 | 0 | 0 | 49 | 0 | |||
Repurchase of common stock (in shares) | (424,876) | ||||||||
Repurchase of common stock | $ (1,811) | 0 | 0 | 0 | 0 | $ (1,811) | |||
Repurchase of common stock (in shares) | 424,876 | 424,876 | |||||||
Net income attributable to and accretion of redeemable noncontrolling interest | 15 | 15 | |||||||
Net income attributable to and accretion of redeemable noncontrolling interest | $ (15) | 0 | 0 | (15) | 0 | $ 0 | |||
Foreign currency translation adjustments | 35 | 35 | |||||||
Foreign currency translation adjustments | 49 | 0 | 0 | 0 | 49 | $ 0 | |||
Balance, temporary equity, including noncontrolling interest at Mar. 31, 2023 | 14,057 | 14,057 | |||||||
Balance (in shares) at Mar. 31, 2023 | 186,787,807 | 4,614,626 | |||||||
Balance at Mar. 31, 2023 | 227,241 | 19 | 674,768 | (426,124) | 2,055 | $ (23,477) | |||
Balance, temporary equity, including noncontrolling interest at Dec. 31, 2023 | 6,038 | 6,038 | 6,038 | ||||||
Balance (in shares) at Dec. 31, 2023 | 184,652,402 | ||||||||
Balance at Dec. 31, 2023 | $ 218,806 | 8,207 | 18 | 667,881 | (460,496) | 3,196 | |||
Proceeds from exercise of options (in shares) | 293,361 | 293,361 | |||||||
Proceeds from exercise of options | $ 784 | 0 | 0 | 784 | 0 | 0 | |||
Common stock issued upon vesting of restricted stock units (in shares) | 2,028,720 | ||||||||
Common stock issued upon vesting of restricted stock units | 0 | 0 | 1 | (1) | 0 | 0 | |||
Stock-based compensation expense | 9,458 | 0 | 0 | 9,458 | 0 | 0 | |||
Accretion of redeemable noncontrolling interest | 99 | (99) | (99) | 99 | |||||
Redemption of noncontrolling interest | (5,926) | (5,926) | |||||||
Redemption of noncontrolling interest | 0 | (6,381) | 0 | 6,379 | 0 | 2 | |||
Reclassification of earn-out RSUs to earn-out shares | $ (137) | 0 | 0 | (137) | 0 | ||||
Repurchase and retirement of common stock (in shares) | (1,758,850) | (1,758,850) | |||||||
Repurchase and retirement of common stock | $ (13,743) | 0 | 0 | (6,438) | (7,305) | 0 | |||
Net loss | (5) | (5) | |||||||
Net loss | (1,949) | (134) | 0 | 0 | (1,815) | 0 | |||
Reclassification adjustment for net gains on available-for-sale securities included in net loss | (100) | 0 | 0 | 0 | 0 | (100) | |||
Temporary Equity, Foreign Currency Translation Adjustments | (8) | (8) | |||||||
Foreign currency translation adjustments | (470) | (65) | 0 | 0 | (405) | ||||
Foreign currency translation adjustments | (8) | (8) | |||||||
Foreign currency translation adjustments | (470) | (65) | 0 | 0 | (405) | ||||
Balance, temporary equity, including noncontrolling interest at Mar. 31, 2024 | 0 | 0 | $ 0 | ||||||
Balance (in shares) at Mar. 31, 2024 | 185,215,633 | ||||||||
Balance at Mar. 31, 2024 | $ 212,748 | $ 1,627 | $ 19 | $ 677,926 | $ (469,517) | $ 2,693 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operating activities | ||
Net loss | $ (1,954) | $ (9,182) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 1,295 | 1,134 |
Operating lease right-of-use assets expense | 1,420 | 1,749 |
Foreign currency remeasurement loss (gain) | 580 | (175) |
Stock-based compensation | 9,458 | 8,104 |
Deferred income taxes | (72) | (82) |
Other | (146) | (1,566) |
Change in value of earn-out and warrant liabilities | (1,490) | 109 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 10,933 | 10,049 |
Prepaid expenses and other current assets | 1,718 | 3,571 |
Deferred contract costs and other assets | 4,447 | 2,987 |
Accounts payable, accrued expenses, operating lease liabilities and other liabilities | (14,293) | (12,828) |
Deferred revenue | (4,140) | (2,620) |
Net cash provided by operating activities | 7,756 | 1,250 |
Investing activities | ||
Maturities of investments | 240 | 1,670 |
Purchases of investments | (389) | (74) |
Capitalization of internal-use software | (391) | (259) |
Purchase of property and equipment | (502) | (225) |
Investment in notes | (500) | (250) |
Net cash (used in) provided by investing activities | (1,542) | 862 |
Financing activities | ||
Repurchase of common stock | (13,743) | (1,811) |
Proceeds from stock option exercises | 784 | 1,131 |
Repayments of finance leases | (2) | (10) |
Net cash used in financing activities | (12,961) | (690) |
Effect of exchange rates on cash | (926) | 217 |
Net (decrease) increase in cash and cash equivalents | (7,673) | 1,639 |
Cash and cash equivalents at beginning of period | 223,162 | 227,188 |
Cash and cash equivalents at end of period | 215,489 | 228,827 |
Supplemental disclosures of cash flow information | ||
Income taxes paid | 984 | 327 |
Unpaid redemption of noncontrolling interest | $ 5,926 | $ 0 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Organization | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. AvePoint, Inc. (collectively with its subsidiaries, 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. 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. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed consolidated balance sheet as of December 31, 2023, 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, 2024 not may December 31, 2024. These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements as of December 31, 2023 2022, December 31, 2023 2022 2021, 10 December 31, 2023 February 29, 2024 Annual Report The Company's significant accounting policies are discussed in Note 2 no three March 31, 2024. Comparative Data Certain amounts from prior periods have been reclassed to conform to the current period presentation, including: • The reclassification of gain (loss) on earn-out and warrant liabilities to be included in other income, net on the condensed consolidated statements of operations for the three March 31, 2023. • The reclassification of interest income, net to be included in other income, net on the condensed consolidated statements of operations for the three March 31, 2023. 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 the periods presented are affected by estimates and assumptions, which are used for, but not may Foreign Currency Transaction gains and losses arising from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in other income, net in the Company’s condensed consolidated statements of operations. Transaction losses totaled $0.6 million for the three March 31, 2024 three March 31, 2023 Cash and Cash Equivalents The Company maintains cash with several high credit-quality financial institutions. The Company considers its investments with original maturities of three not not March 31, 2024 December 31, 2023 Prepaid Expenses and Other Current Assets The prepaid expenses balances as of March 31, 2024 December 31, 2023 Goodwill No March 31, 2024 December 31, 2023 Deferred Contract Costs We defer sales commissions that are considered to be incremental and recoverable costs of obtaining or renewing SaaS, term license and support, services, perpetual license and maintenance contracts. Changes in the anticipated period of asset benefit or the average renewal term are recognized on a prospective basis upon occurrence. Amortization of deferred contract costs of $5.3 million for the three March 31, 2024 three March 31, 2023 March 31, 2024 December 31, 2023 Revenue Recognition The Company derives revenue from four Term license revenue recognized at point in time was $5.6 million for the three March 31, 2024 three March 31, 2023 Accounts receivable, net is inclusive of accounts receivable, and current 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, 2024 December 31, 2023 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, 2024 December 31, 2023 three March 31, 2024 The opening and closing balances of the Company's accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred receivable, Deferred contract net (1) revenue costs (in thousands) Balance, December 31, 2023 $ 94,067 $ 129,256 $ 54,675 Balance, March 31, 2024 78,488 122,569 52,595 ( 1 There were no three March 31, 2024 December 31, 2023 As of March 31, 2024 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. The Company measures stock-based compensation cost at the grant date based on the estimated fair value of the award and recognizes the cost ratably over the requisite service period, net of actual forfeitures in the period. 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 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 an expected term. Expected volatility is based on the 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 Recent Accounting Pronouncements Recently issued accounting pronouncements not yet effective In November 2023, 2023 07, 280 ASU 2023 07 2023 07 December 15, 2023, December 15, 2024. 2023 07 In December 2023, No. 2023 09, 740 ASU 2023 09 2023 09 December 15, 2024. 2023 09 |
Note 3 - Goodwill
Note 3 - Goodwill | 3 Months Ended |
Mar. 31, 2024 | |
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, 2023 $ 19,156 Acquisitions — Effect of foreign currency translation (464 ) Balance as of March 31, 2024 $ 18,692 |
Note 4 - Intangible Assets, Net
Note 4 - Intangible Assets, Net | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 4. Intangible assets consist of acquired intangible assets and self-developed software. Amortization expense for intangible assets was $0.6 million for the three March 31, 2024 three March 31, 2023 A summary of the balances of the Company’s intangible assets as of March 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount March 31, December 31, 2024 2023 (in thousands) Technology and software $ 8,252 $ (2,144 ) $ 6,108 $ 7,976 $ (1,758 ) $ 6,218 Customer related assets 4,450 (737 ) 3,713 4,546 (640 ) 3,906 Content 825 (481 ) 344 843 (421 ) 422 Total $ 13,527 $ (3,362 ) $ 10,165 $ 13,365 $ (2,819 ) $ 10,546 As of March 31, 2024 Year Ending December 31: (in thousands) 2024 (nine months) $ 1,808 2025 2,048 2026 1,556 2027 1,169 2028 994 Thereafter 2,590 Total intangible assets subject to amortization $ 10,165 |
Note 5 - Accounts Receivable, N
Note 5 - Accounts Receivable, Net | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. Accounts receivable, net, consists of the following components: March 31, December 31, 2024 2023 (in thousands) Trade receivables $ 46,965 $ 60,508 Current unbilled receivables 27,231 26,295 Allowance for doubtful accounts (792 ) (926 ) $ 73,404 $ 85,877 |
Note 6 - Line of Credit
Note 6 - Line of Credit | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. The Company maintains a loan and security agreement (the “ Loan Agreement HSBC may SOFR November 3, 2026. March 31, 2024, no |
Note 7 - Income Taxes
Note 7 - Income Taxes | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7. The Company had an effective tax rate of 1,062.6% and (27.5)% for three March 31, 2024 March 31, 2023 The change in effective tax rates for the three March 31, 2024 three March 31, 2023 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 supporting data, including the level of historical taxable income, future reversals of existing temporary differences, tax planning strategies, and projected future taxable income. |
Note 8 - Leases
Note 8 - Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 8. 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. The components of the Company’s operating lease expenses are reflected in the condensed consolidated statements of operations as follows: Three Months Ended March 31, 2024 2023 (in thousands) Lease liability cost $ 1,720 $ 1,749 Short-term lease expenses (1) 267 248 Variable lease cost not included in the lease liability (2) 135 110 Total lease cost $ 2,122 $ 2,107 ( 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, 2024 2023 Other information related to operating leases is as follows: Three Months Ended March 31, 2024 2023 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 2,124 $ 2,046 As of March 31, 2024 As of December 31, 2023, The maturity schedule of the operating lease liabilities as of March 31, 2024 Year Ending December 31: (in thousands) 2024 (nine months) $ 4,132 2025 4,381 2026 2,492 2027 1,707 2028 786 Thereafter 1,212 Total future lease payments $ 14,710 Less: Present value adjustment (1,418 ) Present value of future lease payments (1) $ 13,292 ( 1 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | 9. Legal Proceedings In the normal course of its business, the Company may March 31, 2024 not Guarantees In the normal course of business, customers in certain geographies or in highly regulated sectors occasionally require contingency agreements, which are secured by certificates of deposit. As of March 31, 2024 not |
Note 10 - Earn-Out and Warrant
Note 10 - Earn-Out and Warrant Liabilities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earn-Out and Warrant Liabilities [Text Block] | 10. Company Earn-Out 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 July 1, 2028 ( $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 July 1, 2028 ( $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 July 1, 2028 ( $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, 2024 December 31, 2023 three March 31, 2024 three March 31, 2023 March 31, December 31, 2024 2023 Term (in years) 4.25 4.50 Volatility 55.00 % 55.00 % Private Warrants to Acquire Common Stock On July 1, 2021, The private placement warrants are non-transferable and any transfer to an unrelated party would cause the warrants to be converted into public warrants. Consequently, the fair value of the private placement warrants is equivalent to the quoted price of the publicly traded warrants. Under this approach, the fair value of the private placement warrants on July 1, 2021, March 31, 2024 December 31, 2023 three March 31, 2024 three March 31, 2023 |
Note 11 - Mezzanine Equity and
Note 11 - Mezzanine Equity and Stockholders' Equity | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 11. 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 185,215,633 and 184,652,402 shares issued and outstanding at March 31, 2024 December 31, 2023 one not Share Repurchase Program On March 17, 2022, Share Repurchase Program three may not three March 31, 2024 three March 31, 2024 three March 31, 2023 Sponsor Earn-Out Shares On July 1, 2021, Sponsor Earn-Out Shares • 100% July 1, 2028, $15.00 20 30 • 100% not July 1, 2028, 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, 2024 Public Warrants to Acquire Common Stock On July 1, 2021, one July 1, 2026. March 31, 2024 Redeemable Noncontrolling Interest During the three March 31, 2024, MaivenPoint There are no put options held by MaivenPoint’s remaining noncontrolling interest shareholders, and therefore, there is no longer any redeemable noncontrolling interest in MaivenPoint as of March 31, 2024. |
Note 12 - Growth Equity Fund
Note 12 - Growth Equity Fund | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] | 12. On February 28, 2024, LCP A3V Venture A3 1, Fund The Venture wholly owns A3V GP As of March 31, 2024, not |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 13. The Company maintains the 2021 2021 March 31, 2024 2021 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, 2024 2023 (in thousands) Cost of revenue $ 871 $ 670 Sales and marketing 2,284 2,201 General and administrative 4,967 4,382 Research and development 1,336 851 Total stock-based compensation $ 9,458 $ 8,104 Stock Options The compensation costs for stock option awards are accounted for in accordance with ASC 718. four tenth On March 5, 2024, 2021 March 5, 2024 Expected life (in years) 6.11 Expected volatility 55.85 % Risk-free rate 4.10 % 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, 2024 As of March 31, 2024 three March 31, 2024 Restricted Stock Units Under the terms of the 2021 Time-Based RSUs PSUs RSUs four 3,563,974 Time-Based RSUs and 502,676 PSUs were granted under the 2021 three March 31, 2024 718. three March 31, 2024 March 31, 2024 March 31, 2024, 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 July 1, 2028, not |
Note 14 - Financial Instruments
Note 14 - Financial Instruments | 3 Months Ended |
Mar. 31, 2024 | |
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, 2024 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,509 $ — $ 1,509 Money market funds — 178,581 — 178,581 Short term investments: Certificates of deposit (1) — 3,747 — 3,747 Other assets: Notes receivables (3) — — 2,414 2,414 Total $ — $ 183,837 $ 2,414 $ 186,251 Liabilities: Earn-out shares liabilities: Earn-out shares (2) $ — $ — $ 17,140 $ 17,140 Other non-current liabilities: Warrant liabilities (2) — 386 — 386 Total $ — $ 386 $ 17,140 $ 17,526 December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,533 $ — $ 1,533 Money market funds — 4,423 — 4,423 U.S. treasury bills — 171,841 — 171,841 Short term investments: Certificates of deposit (1) — 3,721 — 3,721 Other assets: Notes receivables (3) — — 1,840 1,840 Total $ — $ 181,518 $ 1,840 $ 183,358 Liabilities: Earn-out shares liabilities: Earn-out shares (2) $ — $ — $ 18,346 $ 18,346 Other non-current liabilities: Warrant liabilities (2) — 533 — 533 Total $ — $ 533 $ 18,346 $ 18,879 ( 1 ( 2 Note 10 ( 3 2023, twelve LCP Notes Receivable Note 12 Growth Equity Fund March 31, 2024 December 31, 2023, $2.4 third The following table presents the reconciliation in Level 3 Three Months Ended March 31, 2024 (in thousands) Opening balance $ 18,346 Total gains or losses from the period Included in other income, net (1,343 ) Reclass from Earnout-RSU 137 Closing balance $ 17,140 |
Note 15 - Segment Information
Note 15 - Segment Information | 3 Months Ended |
Mar. 31, 2024 | |
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. The following table sets forth revenue by geographic area: Three Months Ended March 31, 2024 2023 (in thousands) Revenue: North America $ 29,895 $ 24,436 EMEA 22,806 19,488 APAC 21,833 15,648 Total revenue $ 74,534 $ 59,572 The following table sets forth revenue generated by countries which represent more than 10% Three Months Ended March 31, 2024 2023 (in thousands) Revenue: United States $ 29,697 $ 23,518 Singapore 10,479 6,437 Germany 9,894 8,655 |
Note 16 - Other Income, net
Note 16 - Other Income, net | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Interest and Other Income [Text Block] | 16. Other income, net is disaggregated as follows: Three Months Ended March 31, 2024 2023 (in thousands) Gain (loss) on earn-out and warrant liabilities $ 1,490 $ (109 ) Interest income, net 34 325 Profits on securities 2,417 1,670 Foreign currency exchange loss, net (568 ) (286 ) Other, net 31 28 Other income, net $ 3,404 $ 1,628 |
Note 17 - Loss Per Share
Note 17 - Loss Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 17. Basic loss per share available to the Company common stockholders (“ EPS Note 11 no no Three Months Ended March 31, 2024 2023 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (1,954 ) $ (9,182 ) Net (loss) income attributable to noncontrolling interest (238 ) 15 Total net loss available to common shareholders $ (1,716 ) $ (9,197 ) Denominator: Weighted average common shares outstanding 181,495 182,818 Effect of dilutive securities — — Weighted average diluted shares 181,495 182,818 Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.01 ) $ (0.05 ) To arrive at net loss available to common stockholders, the Company deducted net (loss) income attributable to the redeemable noncontrolling interest. For the three March 31, 2024 2023 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, 2024 2023 (in thousands) Stock options 26,813 29,437 RSUs 12,394 13,246 Warrants 17,905 17,905 Company Earn-Outs 3,000 3,000 Total potentially dilutive securities 60,112 63,588 |
Note 18 - Related Party Transac
Note 18 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 18. 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 19 - Subsequent Events
Note 19 - Subsequent Events | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. No |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 shares | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. OTHER On March 4, 2024 Zhijian Lu affiliate entered 10b5 1 Lu 10b5 1 Plan 10b5 1 10b5 1 10b5 1 June 10, 2024 January 31, 2025. 10b5 1 may 10b5 1 January 31, 2025 Growth Equity Fund The Company formed AvePoint Ventures, LLC (“ APV A3 1, A3V LCP February 28, 2024, A3V A3V The A3V A3V A3V A3V A3V APV has committed US $50 A3V A3V The description above is qualified entirely by reference to Exhibit 10.1 A3V |
Trading Arrangement, Securities Aggregate Available Amount | 480,000 |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Trading Arrangement Adoption Date | March 4, 2024 |
Trading Arrangement, Individual Name | Zhijian Lu |
Trading Arrangement, Individual Title | affiliate |
Rule 10b5-1 Arrangement Adopted [Flag] | true |
Trading Arrangement Expiration Date | January 31, 2025 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated balance sheet as of December 31, 2023, 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, 2024 not may December 31, 2024. These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements as of December 31, 2023 2022, December 31, 2023 2022 2021, 10 December 31, 2023 February 29, 2024 Annual Report The Company's significant accounting policies are discussed in Note 2 no three March 31, 2024. |
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 gain (loss) on earn-out and warrant liabilities to be included in other income, net on the condensed consolidated statements of operations for the three March 31, 2023. • The reclassification of interest income, net to be included in other income, net on the condensed consolidated statements of operations for the three March 31, 2023. |
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 the 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 Transaction gains and losses arising from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in other income, net in the Company’s condensed consolidated statements of operations. Transaction losses totaled $0.6 million for the three March 31, 2024 three March 31, 2023 |
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 its investments with original maturities of three not not March 31, 2024 December 31, 2023 |
Prepaid Expenses and Other Assets [Policy Text Block] | Prepaid Expenses and Other Current Assets The prepaid expenses balances as of March 31, 2024 December 31, 2023 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill No March 31, 2024 December 31, 2023 |
Deferred Charges, Policy [Policy Text Block] | Deferred Contract Costs We defer sales commissions that are considered to be incremental and recoverable costs of obtaining or renewing SaaS, term license and support, services, perpetual license and maintenance contracts. Changes in the anticipated period of asset benefit or the average renewal term are recognized on a prospective basis upon occurrence. Amortization of deferred contract costs of $5.3 million for the three March 31, 2024 three March 31, 2023 March 31, 2024 December 31, 2023 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company derives revenue from four Term license revenue recognized at point in time was $5.6 million for the three March 31, 2024 three March 31, 2023 Accounts receivable, net is inclusive of accounts receivable, and current 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, 2024 December 31, 2023 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, 2024 December 31, 2023 three March 31, 2024 The opening and closing balances of the Company's accounts receivable, net, deferred revenue and deferred contract costs are as follows: Accounts Deferred receivable, Deferred contract net (1) revenue costs (in thousands) Balance, December 31, 2023 $ 94,067 $ 129,256 $ 54,675 Balance, March 31, 2024 78,488 122,569 52,595 ( 1 There were no three March 31, 2024 December 31, 2023 As of March 31, 2024 twelve |
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. The Company measures stock-based compensation cost at the grant date based on the estimated fair value of the award and recognizes the cost ratably over the requisite service period, net of actual forfeitures in the period. 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 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 an expected term. Expected volatility is based on the 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 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Recently issued accounting pronouncements not yet effective In November 2023, 2023 07, 280 ASU 2023 07 2023 07 December 15, 2023, December 15, 2024. 2023 07 In December 2023, No. 2023 09, 740 ASU 2023 09 2023 09 December 15, 2024. 2023 09 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions [Table Text Block] | Accounts Deferred receivable, Deferred contract net (1) revenue costs (in thousands) Balance, December 31, 2023 $ 94,067 $ 129,256 $ 54,675 Balance, March 31, 2024 78,488 122,569 52,595 |
Note 3 - Goodwill (Tables)
Note 3 - Goodwill (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Goodwill (in thousands) Balance as of December 31, 2023 $ 19,156 Acquisitions — Effect of foreign currency translation (464 ) Balance as of March 31, 2024 $ 18,692 |
Note 4 - Intangible Assets, N_2
Note 4 - Intangible Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
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 March 31, December 31, 2024 2023 (in thousands) Technology and software $ 8,252 $ (2,144 ) $ 6,108 $ 7,976 $ (1,758 ) $ 6,218 Customer related assets 4,450 (737 ) 3,713 4,546 (640 ) 3,906 Content 825 (481 ) 344 843 (421 ) 422 Total $ 13,527 $ (3,362 ) $ 10,165 $ 13,365 $ (2,819 ) $ 10,546 |
Finite-Lived Intangible Assets Amortization Expense [Table Text Block] | Year Ending December 31: (in thousands) 2024 (nine months) $ 1,808 2025 2,048 2026 1,556 2027 1,169 2028 994 Thereafter 2,590 Total intangible assets subject to amortization $ 10,165 |
Note 5 - Accounts Receivable,_2
Note 5 - Accounts Receivable, Net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2024 2023 (in thousands) Trade receivables $ 46,965 $ 60,508 Current unbilled receivables 27,231 26,295 Allowance for doubtful accounts (792 ) (926 ) $ 73,404 $ 85,877 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2024 2023 (in thousands) Lease liability cost $ 1,720 $ 1,749 Short-term lease expenses (1) 267 248 Variable lease cost not included in the lease liability (2) 135 110 Total lease cost $ 2,122 $ 2,107 |
Other Information Related to Operating Leases [Table Text Block] | Three Months Ended March 31, 2024 2023 (in thousands) Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ 2,124 $ 2,046 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Year Ending December 31: (in thousands) 2024 (nine months) $ 4,132 2025 4,381 2026 2,492 2027 1,707 2028 786 Thereafter 1,212 Total future lease payments $ 14,710 Less: Present value adjustment (1,418 ) Present value of future lease payments (1) $ 13,292 |
Note 10 - Earn-Out and Warran_2
Note 10 - Earn-Out and Warrant Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 31, December 31, 2024 2023 Term (in years) 4.25 4.50 Volatility 55.00 % 55.00 % |
Note 13 - Stock-based Compens_2
Note 13 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2024 2023 (in thousands) Cost of revenue $ 871 $ 670 Sales and marketing 2,284 2,201 General and administrative 4,967 4,382 Research and development 1,336 851 Total stock-based compensation $ 9,458 $ 8,104 |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | March 5, 2024 Expected life (in years) 6.11 Expected volatility 55.85 % Risk-free rate 4.10 % Dividend yield — |
Note 14 - Financial Instrumen_2
Note 14 - Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2024 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,509 $ — $ 1,509 Money market funds — 178,581 — 178,581 Short term investments: Certificates of deposit (1) — 3,747 — 3,747 Other assets: Notes receivables (3) — — 2,414 2,414 Total $ — $ 183,837 $ 2,414 $ 186,251 Liabilities: Earn-out shares liabilities: Earn-out shares (2) $ — $ — $ 17,140 $ 17,140 Other non-current liabilities: Warrant liabilities (2) — 386 — 386 Total $ — $ 386 $ 17,140 $ 17,526 December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash Equivalents: Certificates of deposit (1) $ — $ 1,533 $ — $ 1,533 Money market funds — 4,423 — 4,423 U.S. treasury bills — 171,841 — 171,841 Short term investments: Certificates of deposit (1) — 3,721 — 3,721 Other assets: Notes receivables (3) — — 1,840 1,840 Total $ — $ 181,518 $ 1,840 $ 183,358 Liabilities: Earn-out shares liabilities: Earn-out shares (2) $ — $ — $ 18,346 $ 18,346 Other non-current liabilities: Warrant liabilities (2) — 533 — 533 Total $ — $ 533 $ 18,346 $ 18,879 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended March 31, 2024 (in thousands) Opening balance $ 18,346 Total gains or losses from the period Included in other income, net (1,343 ) Reclass from Earnout-RSU 137 Closing balance $ 17,140 |
Note 15 - Segment Information (
Note 15 - Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended March 31, 2024 2023 (in thousands) Revenue: North America $ 29,895 $ 24,436 EMEA 22,806 19,488 APAC 21,833 15,648 Total revenue $ 74,534 $ 59,572 Three Months Ended March 31, 2024 2023 (in thousands) Revenue: United States $ 29,697 $ 23,518 Singapore 10,479 6,437 Germany 9,894 8,655 |
Note 16 - Other Income, net (Ta
Note 16 - Other Income, net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Interest and Other Income [Table Text Block] | Three Months Ended March 31, 2024 2023 (in thousands) Gain (loss) on earn-out and warrant liabilities $ 1,490 $ (109 ) Interest income, net 34 325 Profits on securities 2,417 1,670 Foreign currency exchange loss, net (568 ) (286 ) Other, net 31 28 Other income, net $ 3,404 $ 1,628 |
Note 17 - Loss Per Share (Table
Note 17 - Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2024 2023 (in thousands, except per share amounts) Loss per share available to common shareholders, excluding sponsor earn-out shareholders Numerator: Net loss $ (1,954 ) $ (9,182 ) Net (loss) income attributable to noncontrolling interest (238 ) 15 Total net loss available to common shareholders $ (1,716 ) $ (9,197 ) Denominator: Weighted average common shares outstanding 181,495 182,818 Effect of dilutive securities — — Weighted average diluted shares 181,495 182,818 Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders $ (0.01 ) $ (0.05 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | March 31, 2024 2023 (in thousands) Stock options 26,813 29,437 RSUs 12,394 13,246 Warrants 17,905 17,905 Company Earn-Outs 3,000 3,000 Total potentially dilutive securities 60,112 63,588 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies 1 (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Gain (Loss), Foreign Currency Transaction, before Tax | $ (568) | $ (286) | |
Cash | 9,100 | $ 13,100 | |
Prepaid Expense, Current | 6,000 | 7,600 | |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | |
Capitalized Contract Cost, Amortization | 5,300 | 4,200 | |
Capitalized Contract Cost, Net | 52,595 | 54,675 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 74,534 | 59,572 | |
Contract with Customer, Liability | 122,569 | $ 129,256 | |
Contract with Customer, Liability, Revenue Recognized | 46,600 | ||
Revenue, Remaining Performance Obligation, Amount | 309,700 | ||
Termed License and Support [Member] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 10,005 | 10,904 | |
Termed License and Support [Member] | SaaS [Member] | |||
Revenue, Remaining Performance Obligation, Amount | 254,100 | ||
Transferred at Point in Time [Member] | Termed License and Support [Member] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,600 | $ 5,900 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | Mar. 31, 2024 |
Revenue, Remaining Performance Obligation, Percentage | 61% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 12 years |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Accounts Receivable, Net, Deferred Revenue and Deferred Sales Commissions (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Accounts Receivable, after Allowance for Credit Loss | [1] | $ 78,488 | $ 94,067 |
Deferred Revenue | 122,569 | 129,256 | |
Deferred Contract Costs | $ 52,595 | $ 54,675 | |
[1]Include long-term unbilled receivables. |
Note 3 - Goodwill - Changes in
Note 3 - Goodwill - Changes in Carrying Amount of Goodwill (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Balance | $ 19,156 |
Acquisitions | 0 |
Goodwill, Foreign Currency Translation Gain (Loss) | (464) |
Balance | $ 18,692 |
Note 4 - Intangible Assets, N_3
Note 4 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amortization of Intangible Assets | $ 0.6 | $ 0.5 |
Note 4 - Intangible Assets, N_4
Note 4 - Intangible Assets, Net - Summary of Balances of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Finite-Lived Intangible Assets, Gross | $ 13,527 | $ 13,365 |
Accumulated Amortization | (3,362) | (2,819) |
Net carrying amount | 10,165 | 10,546 |
Technology-Based Intangible Assets [Member] | ||
Finite-Lived Intangible Assets, Gross | 8,252 | 7,976 |
Accumulated Amortization | (2,144) | (1,758) |
Net carrying amount | 6,108 | 6,218 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets, Gross | 4,450 | 4,546 |
Accumulated Amortization | (737) | (640) |
Net carrying amount | 3,713 | 3,906 |
Media Content [Member] | ||
Finite-Lived Intangible Assets, Gross | 825 | 843 |
Accumulated Amortization | (481) | (421) |
Net carrying amount | $ 344 | $ 422 |
Note 4 - Intangible Assets, N_5
Note 4 - Intangible Assets, Net - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
2024 (nine months) | $ 1,808 | |
2025 | 2,048 | |
2026 | 1,556 | |
2027 | 1,169 | |
2028 | 994 | |
Thereafter | 2,590 | |
Total intangible assets subject to amortization | $ 10,165 | $ 10,546 |
Note 5 - Accounts Receivable,_3
Note 5 - Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Allowance for doubtful accounts | $ (792) | $ (926) |
Accounts Receivable, after Allowance for Credit Loss, Current | 73,404 | 85,877 |
Trade Accounts Receivable [Member] | ||
Accounts receivable, gross | 46,965 | 60,508 |
Unbilled Receivable [Member] | ||
Accounts receivable, gross | $ 27,231 | $ 26,295 |
Note 6 - Line of Credit (Detail
Note 6 - Line of Credit (Details Textual) - USD ($) $ in Thousands | 5 Months Ended | |
Nov. 03, 2023 | Mar. 31, 2024 | |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Secured Overnight Financing Rate (SOFR) [Member] | |
Revolving Credit Facility [Member] | HSBC Venture Bank USA Inc. [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000 | |
Proceeds from Lines of Credit, Total | $ 0 | |
Line of Credit, Accordion Feature [Member] | HSBC Venture Bank USA Inc. [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000 | |
Revolving Credit Facility with Accordion Feature [Member] | HSBC Venture Bank USA Inc. [Member] | Minimum [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 3% | |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |
Revolving Credit Facility with Accordion Feature [Member] | HSBC Venture Bank USA Inc. [Member] | Maximum [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.55% |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Effective Income Tax Rate Reconciliation, Percent | 1,062.60% | 27.50% |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 0.7 | $ 2.6 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 3 years 8 months 12 days | 3 years 9 months 18 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 5.60% | 5.60% | |
Operating Lease, Liability, Current | $ 5.2 |
Note 8 - Leases - Components of
Note 8 - Leases - Components of Operating Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Lease liability cost | $ 1,720 | $ 1,749 | |
Short-term lease expenses (1) | [1] | 267 | 248 |
Variable lease cost not included in the lease liability (2) | [2] | 135 | 110 |
Total lease cost | $ 2,122 | $ 2,107 | |
[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 8 - Leases - Other Informa
Note 8 - Leases - Other Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operating cash flows from operating leases | $ 2,124 | $ 2,046 |
Note 8 - Leases - Maturity Sche
Note 8 - Leases - Maturity Schedule of Operating Lease Liabilities (Details) $ in Thousands | Mar. 31, 2024 USD ($) | |
2024 (nine months) | $ 4,132 | |
2025 | 4,381 | |
2026 | 2,492 | |
2027 | 1,707 | |
2028 | 786 | |
Thereafter | 1,212 | |
Total future lease payments | 14,710 | |
Less: Present value adjustment | (1,418) | |
Present value of future lease payments (1) | $ 13,292 | [1] |
[1]Includes the current portion of operating lease liabilities of $5.3 million, which is reflected in accrued expenses and other liabilities in the consolidated balance sheets. |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) $ in Millions | Mar. 31, 2024 USD ($) |
Guarantee for Service Agreement [Member] | |
Letters of Credit Outstanding, Amount | $ 3 |
Note 10 - Earn-Out and Warran_3
Note 10 - Earn-Out and Warrant Liabilities (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||
Jul. 26, 2021 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | 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 | $ 17,100 | $ 18,300 | $ 29,600 | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 1,300 | $ 100 | |||
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) | $ 11.5 | ||||
Warrants and Rights Outstanding | 400 | $ 500 | $ 1,400 | ||
Fair Value Adjustment of Warrants | $ 100 | $ 0 |
Note 10 - Earn-Out and Warran_4
Note 10 - Earn-Out and Warrant Liabilities - Earn-out Shares Fair Value Assumptions (Details) | Mar. 31, 2024 | Dec. 31, 2023 |
Measurement Input, Expected Term [Member] | ||
Measurement input | 4.25 | 4.5 |
Measurement Input, Price Volatility [Member] | ||
Measurement input | 0.55 | 0.55 |
Note 11 - Mezzanine Equity an_2
Note 11 - Mezzanine Equity and Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jul. 01, 2021 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Common Stock, Shares Authorized (in shares) | 1,000,000,000 | 1,000,000,000 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | ||
Common Stock, Shares, Issued, Including Treasury Shares (in shares) | 185,215,633 | 184,652,402 | ||
Common Stock, Shares, Outstanding Including Treasury Shares (in shares) | 185,215,633 | 184,652,402 | ||
Stock Repurchase Program, Authorized Amount | $ 150,000 | |||
Stock Repurchased and Retired During Period, Shares (in shares) | 1,758,850 | |||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 7.81 | |||
Stock Repurchased and Retired During Period, Value | $ 13,743 | |||
Treasury Stock, Shares, Acquired (in shares) | 424,876 | |||
Treasury Stock, Shares, Retired (in shares) | 0 | |||
Number of Shares Subject to Vesting Provision (in shares) | 2,916,700 | 0 | ||
Proceeds from Stock Options Exercised | 784 | $ 1,131 | ||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | 0 | |||
Business Acquisition, Conditional Option to Repurchase Shares | 0 | |||
Redeemable Noncontrolling Interest, Equity, Carrying Amount | $ 0 | $ 6,038 | ||
AvePoint EduTech PTE. LTD. [Member] | ||||
Increase (Decrease), Subsidiary, Ownership Percentage, Parents | 76.10% | |||
I-Access Solutions Pte. Ltd. [Member] | EduTech Common Shares [Member] | ||||
Proceeds from Stock Options Exercised | $ 5,900 | |||
Public Warrant [Member] | ||||
Class of Warrant or Right, Outstanding (in shares) | 17,500,000 | 17,500,000 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.5 | |||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||
Common Stock [Member] | ||||
Stock Repurchased and Retired During Period, Value | $ 0 | |||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | 0 | |||
Additional Paid-in Capital [Member] | ||||
Stock Repurchased and Retired During Period, Value | 6,438 | |||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | (6,379) | |||
Retained Earnings [Member] | ||||
Stock Repurchased and Retired During Period, Value | 7,305 | |||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | $ 0 |
Note 12 - Growth Equity Fund (D
Note 12 - Growth Equity Fund (Details Textual) $ in Millions | Feb. 28, 2024 USD ($) |
A3 Ventures Fund 1, L.P [Member] | |
Variable Interest Entity, Financial or Other Support, Amount | $ 50 |
Note 13 - Stock-based Compens_3
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | ||
Mar. 05, 2024 | Jul. 01, 2021 | Mar. 31, 2024 | |
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 13.5 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 26,813,324 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares) | 22,139,333 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 106.7 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | $ 97.7 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 293,361 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 1.5 | ||
Share-Based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 3,563,974 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 11,891,043 | ||
Performance Shares [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 502,676 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 502,676 | ||
Time and Performance Based Option [Member] | |||
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) | $ 7.46 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 16 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value (in dollars per share) | $ 6.23 | ||
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) | 26,818,838 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 469,920 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $ 2 | ||
The 2021 Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||
The 2021 Plan [Member] | Time and Performance Based Option [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 74.3 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 10 months 24 days |
Note 13 - Stock-based Compens_4
Note 13 - Stock-based Compensation - Stock-based Compensation (Details) - The 2021 Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Stock-based Compensation | $ 9,458 | $ 8,104 |
Cost of Sales [Member] | ||
Stock-based Compensation | 871 | 670 |
Selling and Marketing Expense [Member] | ||
Stock-based Compensation | 2,284 | 2,201 |
General and Administrative Expense [Member] | ||
Stock-based Compensation | 4,967 | 4,382 |
Research and Development Expense [Member] | ||
Stock-based Compensation | $ 1,336 | $ 851 |
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] | Mar. 05, 2024 |
Expected life (in years) (Year) | 6 years 1 month 9 days |
Expected volatility | 55.85% |
Risk-free rate | 4.10% |
Note 14 - Financial Instrumen_3
Note 14 - Financial Instruments (Details Textual) - Lumens Capital Partners Ltd. (the “LCP”) [Member] - USD ($) $ in Millions | Mar. 31, 2024 | Feb. 28, 2024 |
Notes Receivable, Maximum Commitment | $ 5 | |
Notes Receivable, Interest Rate | 8% | |
Financing Receivable, after Allowance for Credit Loss | $ 1.8 |
Note 14 - Financial Instrumen_4
Note 14 - Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | ||
Money market funds | $ 178,581 | |||
Total | 186,251 | $ 183,358 | ||
Liabilities | 17,526 | 18,879 | ||
Warrant Liabilities [Member] | ||||
Liabilities | [1] | 386 | 533 | |
Fair Value, Inputs, Level 1 [Member] | ||||
Money market funds | 0 | |||
Total | 0 | 0 | ||
Liabilities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Warrant Liabilities [Member] | ||||
Liabilities | [1] | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||||
Money market funds | 178,581 | |||
Total | 183,837 | 181,518 | ||
Liabilities | 386 | 533 | ||
Fair Value, Inputs, Level 2 [Member] | Warrant Liabilities [Member] | ||||
Liabilities | [1] | 386 | 533 | |
Fair Value, Inputs, Level 3 [Member] | ||||
Money market funds | 0 | |||
Total | 2,414 | 1,840 | ||
Liabilities | 17,140 | 18,346 | ||
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member] | ||||
Liabilities | [1] | 0 | 0 | |
Certificates of Deposit [Member] | ||||
Cash Equivalents | [2] | 1,509 | 1,533 | |
Short term investments | [2] | 3,747 | 3,721 | |
Cash Equivalents | [2] | 1,509 | 1,533 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash Equivalents | [2] | 0 | 0 | |
Short term investments | [2] | 0 | 0 | |
Cash Equivalents | [2] | 0 | 0 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Cash Equivalents | [2] | 1,509 | 1,533 | |
Short term investments | [2] | 3,747 | 3,721 | |
Cash Equivalents | [2] | 1,509 | 1,533 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Cash Equivalents | [2] | 0 | 0 | |
Short term investments | [2] | 0 | 0 | |
Cash Equivalents | [2] | 0 | 0 | |
Money Market Funds [Member] | ||||
Cash Equivalents | 4,423 | |||
Cash Equivalents | 4,423 | |||
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash Equivalents | 0 | |||
Cash Equivalents | 0 | |||
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Cash Equivalents | 4,423 | |||
Cash Equivalents | 4,423 | |||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Cash Equivalents | 0 | |||
Cash Equivalents | 0 | |||
US Treasury Securities [Member] | ||||
Cash Equivalents | 171,841 | |||
Cash Equivalents | 171,841 | |||
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash Equivalents | 0 | |||
Cash Equivalents | 0 | |||
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Cash Equivalents | 171,841 | |||
Cash Equivalents | 171,841 | |||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Cash Equivalents | 0 | |||
Cash Equivalents | 0 | |||
Notes Receivable [Member] | ||||
Notes receivables | [3] | 2,414 | 1,840 | |
Notes Receivable [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Notes receivables | 0 | [3] | 0 | |
Notes Receivable [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Notes receivables | 0 | [3] | 0 | |
Notes Receivable [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Notes receivables | [3] | 2,414 | 1,840 | |
Company Earn-Outs [Member] | ||||
Liabilities | [1] | 17,140 | 18,346 | |
Company Earn-Outs [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Liabilities | [1] | 0 | 0 | |
Company Earn-Outs [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Liabilities | [1] | 0 | 0 | |
Company Earn-Outs [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Liabilities | [1] | $ 17,140 | $ 18,346 | |
[1]Refer to “Note 10 — Earn-Out and Warrant Liabilities” for further details.[2]The majority of certificates of deposit are foreign deposits.[3]Refer to “Note 12 — Variable Interest Entity” for further details. |
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] $ in Thousands | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Opening balance | $ 18,346 |
Included in other income, net | (1,343) |
Reclass from Earnout-RSU | 137 |
Closing balance | $ 17,140 |
Note 15 - Segment Information_2
Note 15 - Segment Information (Details Textual) | 3 Months Ended |
Mar. 31, 2024 | |
Number of Operating Segments | 1 |
Note 15 - Segment Information -
Note 15 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | $ 74,534 | $ 59,572 |
North America [Member] | ||
Revenue | 29,895 | 24,436 |
UNITED STATES | ||
Revenue | 29,697 | 23,518 |
EMEA [Member] | ||
Revenue | 22,806 | 19,488 |
SINGAPORE | ||
Revenue | 10,479 | 6,437 |
Asia Pacific [Member] | ||
Revenue | 21,833 | 15,648 |
GERMANY | ||
Revenue | $ 9,894 | $ 8,655 |
Note 16 - Other Income, Net - D
Note 16 - Other Income, Net - Disaggregation of Other Income (Expense), net (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Gain (loss) on earn-out and warrant liabilities | $ 1,490 | $ (109) |
Interest income, net | 34 | 325 |
Profits on securities | 2,417 | 1,670 |
Foreign currency exchange loss, net | (568) | (286) |
Other, net | 31 | 28 |
Other income, net | $ 3,404 | $ 1,628 |
Note 17 - Loss Per Share - Loss
Note 17 - Loss Per Share - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net loss | $ (1,954) | $ (9,182) |
Net (loss) income attributable to noncontrolling interest | (238) | 15 |
Net loss available to common shareholders | $ (1,716) | $ (9,197) |
Weighted average common shares outstanding (in shares) | 181,495 | 182,818 |
Effect of dilutive securities (in shares) | 0 | 0 |
Weighted average diluted shares (in shares) | 181,495 | 182,818 |
Basic and diluted loss per share (in dollars per share) | $ (0.01) | $ (0.05) |
Note 17 - Loss Per Share - Anti
Note 17 - Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Antidilutive Securities (in shares) | 60,112 | 63,588 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities (in shares) | 26,813 | 29,437 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities (in shares) | 12,394 | 13,246 |
Warrant [Member] | ||
Antidilutive Securities (in shares) | 17,905 | 17,905 |
Company Earn-Outs [Member] | ||
Antidilutive Securities (in shares) | 3,000 | 3,000 |