AVPT - Earnings call transcript Q2 2021

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Operator

Good afternoon everyone, and welcome to the AvePoint Second Quarter 2021 Earnings Call.

For opening remarks and introductions, I will now turn the call over to Erica Mannion at Sapphire Investor Relations. Please go ahead.

Erica Mannion

Thank you, and good afternoon. With me today from AvePoint are TJ Jiang, Chief Executive Officer; and Sophia Wu, Chief Financial Officer. a quarter of ended with for business begin second the June will brief the review results TJ XX, XXXX.

review the the then quarter, year will the for results Sophia the of followed XXXX. by quarter company’s third for outlook and full financial second

non-GAAP to the include open that will GAAP. investor review prepared ended relations section U.S. could have webcast as description. operating understanding visiting from results differ statements considered Please with financial company’s our will from accordance non-GAAP evaluating or isolation accordance GAAP. the measures cause this not and then with Please XXXX in evaluates press of property website. presented U.S. how measures they XX, management’s are the that June for operating risks not describes AvePoint operating should statements measures a as for copy of more press substitutes measures prepared These contained Harbor materially a of obtain Listeners by copy and copyright in this with superior not do We quarter note company’s who the measures Safe a to call release the release believe actual in investors the management we company’s this the means non-GAAP We All margin, complete presentation may of limits. the that The encourage material current be in provide and which questions. non-GAAP reserved. involve in for the non-GAAP note call forward-looking certain is are uncertainties with presentation rights you expectations. all and including to sole in income

call would over I to TJ. turn the to Now, like

TJ Jiang

the afternoon. call Thank for And us to everyone this thanks on joining you, Erica.

process. public We’re and extend quarter for during hard the thanks company. report to work their our as support AvePoint special want to the first listing public I a to team excited

XX% Then about our and opportunity. with want company’s we journey. security revenue for delivered start I’ll revenue collaboration the excited first reached because this this our year-over-year in subscription future year, with XX% of XX% is brief of time continued million, also strong million, $XXX take to prior next earnings annual reached year-over-year, I quarter, term of representing revenue which growth grew and important We’re SaaS this ARR, our revenue our to defined the step to revenue, Within quarter. SaaS up an an in million, license it a driven afternoon $XX from record the some Microsoft $XX In total growing million. of of quarter market the year-over-year quarter. as revenue, we the by highlight adoption XX% our XX% $XX of Teams growth discuss recurring technologies. business revenue of and revenue results increase indicator second call, while plus

quarter, ARR great have more XX% momentum the in in spending business $XXX,XXX, than $XXX,XXX year-over-year. in up with second growing We customer to our

dollar net success investment to year up continued While deliver a of with points retention ago. one from our customer initiatives XXX% results five

with to and migrate, in industry data you cloud, and of organizations data secure who ensure only proven an those digital and collaboration, solutions protect full technologies two a to business decades. suite nearly dramatic the collaboration manage to cloud AvePoint technology. a has With to been AvePoint our to due provide protect ensuring guidance XXX. threats and and need the cloud-based has in year, journey acceleration transformation infrastructure past tactical and uniquely data, platforms operations Microsoft more this We over through like innovator of to For been IT like positioned the strategic security SaaS continuity. offers between by to and ransomware collaboration AvePoint people digital of securing connections are Through worldwide efficient sustaining the shift new for has collaborate in story, both become enable imperative. the operations confidence the

large employees contracting access globally contractor XX,XXX compliance defense able restricted with in audit how especially had their to Microsoft to XXX, from with strict to Teams the free-flowing challenged in they Microsoft were adoption need But their their by request desire example, more authorized AvePoint’s sharing regulations, after teams users found deploying by first end data requirements to in a instance XXX. investment a by data align through For XX,XXX their satisfy handling and Teams. over users cloud given Microsoft U.S. model FedRAMP modernize strong themselves launch, with collaboration and our demonstrate and XXX. XX,XXX Microsoft regulatory Microsoft their their early users, week and a May. management After solutions of to They and release governance and practices resulting

fail and in outcomes. confidence AvePoint their flexible AvePoint their which recently cloud automation in of small. that or homegrown With AvePoint cloud money. critical customers provide to business. insights Teams, and with to of solutions they’re Customers drive enable while new govern workflows organizations have with solutions the to Soon ability sustainable, that, decommissioning services and have solutions, provide experienced to after We adoption growth saving ability in applications record rapid and large rapid, more their organizations adoption their can Microsoft like manage monitor use key the solutions that of been point adoption by time accelerate expanding business critical in

believe projected the to cloud AvePoint’s our capture revenue investments the management, platform. the for provide AvePoint’s market on practices market compliance While built Microsoft product Salesforce lines best proven and made Google. opportunities significant agnostic combined no that following today, lead already as has of in matter ahead. such multicolor in opportunities we governance the and cloud We AvePoint overall are expansion to growth with usage and will are years cloud approach heavily solutions overall centric

enterprises momentum look collaboration As mature and continue usage. cloud world, adopt their today, of as at across base they transformation we accelerating the customer core we environments, enjoy their our the to in from strong

than more are million Our now eight users. by cost used solutions

position addition within our our landscape, partner or providers we customers. expand with based medium to begun to managed have SMB In also offerings service businesses strong enterprise SaaS to or to MSPs, the small

overall early this While the view given representation XXX the double has penetration opportunity, Microsoft the nearly base. our to across in material in it user of be SMBs as long-term, to addressable market, we potential this

Within opportunity intend we growth up attractive. our while grown market example, innovation, go-to-market have for organization, customer forward, technology and of we us functions. market our continue by structure. managing our XX% in headcount and across the Looking And ramping to awareness, prudently believe remains ahead very we approximately success, investments sales, our expense channel

to the market via increase channel boost share and other of SMB growth our user retention our and rate, digit base, these we XXX partners. related Microsoft market With triple aim in continue customer our investments, our

our the first different to we AvePoint DevOp including launched of consultants strategy, managed in service vector for providers, meet program partners, an cloud specific ahead. Lastly, is unique resellers, partner in needs value-added ever channel years important July, of global to types our the expansion partners. Channel designed and

offering goal business. So, or to one we only opportunity offers, partner Through a as the this and our priority a platform. on all made providing is our approach economic it an our digital independent collaboration full full across software maximize ISV, technology collaboration to capitalize enable vendor the in the it partners to security wave, program,

Officer This call an turning as Tom to of the The be serve announced Brown Chief effective Lin AvePoint. Brian Caci to recently CFO XXXX. of at leadership want time Jim highlight team will and to as to Before will appointment over Financial Chief and Chief Accounting our I quickly XX, the existing Officer Chief Wu Sophia, executive all Officer. to Legal Operating expansion Officer to now exciting with serve continue Sophia and Compliance August is company’s

quarters is of company. We Looking Sophia just our achieved And continue our step it excited this do. in to in and come. look while have recognize XXXX detail. results to With we one ahead, that much discuss the momentum of in that we financial more updating in have forward you all journey turn our to our listing over to to we’re I’ll the more milestone, public to

Sophia Wu

and good Thank everyone. TJ, you, afternoon,

second to available on is our to A otherwise be that noted. of I’ll non-GAAP unless release, referring quarter website. non-GAAP Please today. financials GAAP is review which I earnings As note our included reconciliation metrics results today’s in

from this as and our quarter open earnings the is our guidance providing to business quarter, Then, Given close walkthrough call with for finally second our questions. by start third and the year I’ll call first up before we public about for full I the and some highlights financial profile. want company. I’ll model perspectives

partners. MSP from customers XXX serving through wide Fortune company our SMBs a of software enterprises a As highly to regulated range

their steady engage our way best Our which needs. motion to in is customers with a fits

a which customers, of SaaS have MSP For basis. are duration enterprise cloud billed of our is IT hybrid our approximate SaaS term multi a environments, partners often while often combination and have license which years, monthly large on XXX% deals, X.XX and this

of XXX, subscription. of of customer’s our ASC the from deals view, each and SaaS Due point to both While license considered term differs. are recognition our adoption revenue

for the term over deal recognize value revenue the whereas will of the XX% term to Our XX% recognized deal, license, is SaaS upfront. we of ratably total typically

an worth to cloud of time SaaS noting our increasing It term continue will business revenue. implement to all business migration support initiatives. they portion as our our we is contribute the of large for important them element we offering enterprises, of portion While do expect is an license our the overall and their

of of useful as and a business, result between growth progress ARR believe the it revenue more streams. license a our to term this SaaS a our is in As comparison track relevant the dynamic, period-to-period we metric provides

primarily over we revenue terms, license our we grow mix become software of will a portion dollar as revenue model. and Over our incrementally well lower in from addition revenue expect growth. services, professional implementation from service In which also but time, as as our of revenue software overall maintenance revenue to carried revenue, professional services, support legacy our generate consist perpetual

maintenance customers or decline to expect over either a As our licensed time. legacy to remaining eventually steadily migrate term we solution, SaaS perpetual our revenue

million, to revenue year-over-year. revenue for $XX quarterly our and XXXX quarter was up total were XX, of XX% XX% $XX on up the ended million, total XX% constituting second Within result, SaaS Moving year-over-year. revenue this June

ARR customers of of XXX from XXX,XXX with As included of of over up the $XXX XXXX. XXX which ARR as March end, customers XX, quarter million, had we

of XX,XXX, our which account XX% of core at was In addition, quarter growth [ph] year-over-year. a the ARR average end represents the

over mentioned, XXX%. core As In dollar increased benchmark ultimately quarters, the base the towards investment TJ and we coverage industry last of best-in-class drive retention the XXX%. success customer customer and net our rate was greater have net quarter, our our dollar-based to generate organization second several in retention

net the organization, dollar-based we to continuingly the As drive our platform retention our previously, is have usage customer long-term goal in and success customers. invest XXX% with discussed existing expanding our by to to of

profit personnel $XX the in us. drive expand detail. QX. expense leverage significant innovation, the continued Now, continue a shift period. let’s review force front headcount product as Sales as organizations in we ago increase compared is efforts The our in in million, $X statement margin revenue invest in of to was the gross to of the compared XX% in in from increase we XX% our marketing awareness in year the compared or R&D a and success $X.X investment due margin customer infrastructure roughly XX% to increase it revenue industry ago additional G&A was as strategies. in development and $X reflects with the and an expand driven more mix of public marketing ago and and invest million ago our and in and a channel revenue in or and operating sales marketing Gross million was income year our related or people sales Non-GAAP efforts. year well subscription. XX% as $XX revenue, Recurring was headcount. ago ready improvement representing the to in a our G&A remains an opportunity capture X% strong towards by million basis related line with intend was quarter X% driven additional of million were MSP and in terms dollar to $X increase by expense This was to or year of to and We we of additional revenue, costs income revenue dollar in sales period. position an expense our associated period. was decreasing spend as of resulting period. operating market, year This of in expense in expense and in XX% the in in our margin XX% marketing period. million profit growth XX%

XX, and short-term Turning sheet X. with $XX closing million the of to include we the investments, in cash business the this, in quarter $XXX.X flow, our July we June does balance proceeds which provided in by $X which ended net million the the cash to quarter, for not million. received our Adjusting cash Cash and balance have our combination on from was includes cash full over while turn of million the $XXX flow, third CapEx $X XXXX. to as a now was million. would I and like year quarter would been outlook for free operations

to $X.X million and For to $XX.X non-GAAP of profit million million of operating the third revenue $X.X million. quarter, a we $XX.X expect

of to $XXX open up and questions. million Operator? $X.X to for the a profit million. call we full With million operating the million For expect non-GAAP that $XXX of we’ll $X.X revenue year,

Operator

Instructions] Our with from first question. Sachs. is Please with question Goldman [Operator Essex your Brian proceed

Brian Essex

you Hi, taking the What associated and that you public FedRAMP nice much look results you good in in you contractor thank you do defense in your company. a the afternoon, the and What for that like? in question TJ, pipeline? business noted penetration cited deal. status I remarks penetration first and have guess how the you congratulations in FedRAMP the does question. ahead as see a prepared into for for achieved pipeline visibility pipeline do and emerging on

TJ Jiang

you question. for Brian. the Thank afternoon, Good

biggest our is space. public solution sector vertical So

to dedicated sector Virginia. team FedRAMP a important Arlington, in have aspect The is We public it. very based

itself in we we several do we’re obtain mover is process. about, years there And involve it continue a first that pipeline from that that So, advantage from is FedRAMP we to to see the it status. first This opportunities that see close certification usually authorized long took status why go able also this authorized. to market are now we’re initiated FedRAMP FedRAMP talk the takes robust that.

it’s So process. various stages other cited of by important been their And thing. also it’s companies software of

as So pipeline status. is right know TAM, to have with And to authorized it’s harder the FedRAMP associated a now. gauge important. we overall it robust We

Brian Essex

That’s Got helpful. it.

that. that And currently? regard you the they And with for you incremental just thank with opportunity cloud, What maybe into Salesforce are how do So service the the then particularly, providers providers, follow-up to potential the penetration backup view view platform? penetration do a there? using service how

TJ Jiang

is multi Salesforce the Yes, backup service of we very growth a us accounts. as play continue important right a our expand moderate footprint opportunity existing for as view where factor now. a cloud into to we But aspect it our

that backup of do is approach, of protection to own authentication themselves some customers back we very your SaaS your encryption, ransomware bring Salesforce full gone providing provider But all critical own providers preferably have forth know, kind storage, segregated and the type from perspective, flexibility even So, minimum type customers. bringing need of have bring storage, third-party to in afforded a services.

are very, recently the and I require aspect very think us. themselves Most we a from today. couple away party it’s that in that as solution, market. which market more have this provider for more, notably vector backup of only see a natively the then third backup Salesforce, basic what providers with a backed There Salesforce growth moderate functionalities, So, providing very to needs important customers

Brian Essex

queue. color. Thank I’ll you helpful more, in that’s much. right, have All hop Thank you. but back the I very

TJ Jiang

Brian. you, Thank

Operator

proceed Jason your Our question with with question. next Blair. William is Ader Please with

Jason Ader

guys. Sophia. Hi, one TJ, for questions, Two one afternoon. Good for

Or the that any but X you may you have us? provide there provide is know an guys that of specific for million, I users? periodically update number is can XXX have something you saying been on TJ, Microsoft For there? over you update

TJ Jiang

just it’s announced so now Yes, million. we over that X

Jason Ader

Okay.

TJ Jiang

growth a a over revenue ARR of the a It’s licensing be coverage continued growth. reoccurring our we metric. reflection best and metric we basis. Yes, the our And don’t it’s licenses, X and on intend to it’s million. update nature Because think growth to of annual quarterly hybrid

So is over well a X yes, so it million. but now

Jason Ader

Right.

than it think for originally was us you’re noticed provided and now you the Okay. saying think million And guidance publicly, I talk I guys provided bit, year, Can you midpoint. $X.X at million lower for then the that what little $X I what the Sophia, through you changed income operating a have there?

Sophia Wu

Jason. Hi, Yes.

TJ increase little investment is positions this our mainly color between buckets. later. bit marketing, into because channel in we three more investment will So a our sales increase business which our and business, new in split We share including

increased also a and our headcount Jim, which of incremental we such cost, accompany budgeted, than additional hiring will also more to its in increase a existing mix We few which standing strength originally as public G&A, team. professional is the things, the management add additional fees of

also in new products opportunities We see good in our investment to bring XXXX R&D and increase beyond. to

increase we HX. headcount the therefore, So in

Jason Ader

Got it.

TJ Jiang

SMB businesses the the secure priming the we way channel on in our of stages channel TAM partners of program a massive mentioning action mid to coverage enabling July, so as investing way then annual very the business, Channel conduct expanded be expensive. business, pump business whole announced only selling a initial Jason, relatively us, recurring channel So are There’s Channel in essentially to with is business billion monthly our the given the we we’re channel on, and going to products. into But to up our familiar not side, accelerating as course, aggressively telesales, with Sophia our and us well have revenue. global to all channel front fastest but market $X side our also of

very So side. from investment it’s our aggressive a

that costs sure our make Of maintain course, aggressive are meaningfully OpEx at we but still are time, posture. meaningfully, we the controlling growth to same managing

Jason Ader

business, TJ, that And for that. MSP last for does on meet expectations? your that me one – is quick you the one Thank

TJ Jiang

Yes, so it’s we’re meeting And it’s, three is our digits. our growing now. of ARR about far, It expectations. right X%

investing as we’ve before, fantastic SaaS accessible, provider right, accessible been SMB because more it. We’re mentioned enterprise we market. to the a allow aggressively It’s into but far us to being more market, focused, be

our million big again, with So that or or very very, the define because as revenue, TAM the that market allow double That’s XXX also SMB We fewer XXX companies. Microsoft us effectively employees $XXX to in businesses a SMB ecosystem. base represents, actually space. annual user

Jason Ader

Great. Thank you.

TJ Jiang

you. Thank

Operator

question. your proceed Our with is Materne Evercore. next question Kirk with with Please

Kirk Materne

the was And how you quarter. key of that inspire have can Okay, just thanks the on you’ve at a summer. of that changes about I talk word? was congrats perspective? Or a as very partners I And is go-to-market that guys the curious the And more of tax wondering, their recently, see recent from on rates long is much, one and follow changing More out you helping some Microsoft how TJ, about you called just up. Microsoft? partnership. I with that is Maybe then is evolving? know your better had one I front. kind partnership

TJ Jiang

Yes.

So we the of cloud has cloud relationship relationship TCB towards co get close sale on now, where comped to sales has a spanned of reps that five one for that continue We consumption for Microsoft, IP goes two our top Microsoft robust we about the reps that talked decades. to accounts, partner XX% very deals, have where Microsoft Microsoft actually retirement. compensation consumption, our global

and the that as top DocuSign. regard, Adobe in same in five we’re So categories

important. us makes that asymmetrically, So

So the side. that’s sell

have we of side, MVP. team a product the On

and Microsoft, by the community as as RDs, So a Microsoft, Regional are Directors. these well professionals, voted most selected team by of valuable

MVP industry they voice. of represent these And are actually the So MVPs.

products regular our our innovation global Microsoft and also bits, of get our for product a we reputation. see to us ahead relationship being and product to asked And they have great Microsoft everyone, the and team from syncs. due top team, So partner Microsoft, new the to long-term

game. are actually and this all to released for offer the reside talk essentially members, where their those call example the Higher access teams Corporate, Education which this collectively and learning. stay is, is have of where foundation, Viva, case industry’s of win-win LinkedIn example, So we access for we XXX Microsoft be A opportunities for able Based good We where is Microsoft most continuous things, know the forms Microsoft can the education the Ed integration, API ahead one actually, and education and And one which AvePoint we us. charter when Technology we of investing, in EduTech. to comprehensive, about and Solution of anticipate

us. that’s for massive a win So

the now corporate rapidly that’s way business tremendous expanding have team. Education We have and we product to the Microsoft team, very, back all grown that and all And Asia-Pacific to America we’re Europe. to in the very and North region, with support thanks

ahead early to and us from where showcase ahead look areas we stay where come just that that have, avoid, anticipate to to So the the the us curve allow investment allow will of here.

Kirk Materne

there’s And sort Did feel quick the still know of up-sell going your of lot have growth NRR helpful. to or helping is or invested like and you a some have NRR you’re success low then focused hanging NRR. or around fruit more higher you very trends and about That’s in I that in you organization. retention moved just customer either to guys one be question driven. area in terms have

TJ Jiang

quickly goal is XXX%. the of XXX%, Our our get now industry were right benchmark to to

meaningful shown and improvements years half of have over last the a investment. two We

that. technology, up-sell do It’s, people it’s and cross that comfortable for process about points of us, sell It’s with Just we’re very and investment from five continue an to capabilities. year-over-year, improvement. will

that get comfortable pretty We’re the to benchmarking term. medium industry we’ll

Kirk Materne

for good. questions. sounds the answering That Thanks

TJ Jiang

Thank you, Kirk.

Operator

question Please question. is with Capital. with next Our proceed from your Nehal Chokshi Northland

Nehal Chokshi

as sustained far teams That’s you on or ARR plus growth is Marks how XX% very your think is growth. how that not. And change tapering see to really that nice as It’s give that pipeline? happening there? context, And not if then you. out In can Congratulations. what team’s does Thank us some awesome. reporting the clear you growth. affect perspective their

TJ Jiang

question great Nehal. to That’s a

announced XXX And previous Teams just million is recently penetration actively that Interestingly, was announced Office monthly actively XXX XXX we users. they also announced for Microsoft the So, data number X%. now million users. EX

of because coverage, nuanced, different seasonal things different kind there’s these you more coverage. also license So have are types, again,

Microsoft we entirety So it Team baked integrated now Team highly because massive continued to in. Microsoft And every Cloud Windows is TAM, being just a XXX. before, killer app. XXX, It’s Microsoft so PC, as instance us, with the mentioned of truly really, especially for with where has the

in which our and called My Hub, fact, ones it’s into In it’s one number top Japan, globally, app baked the team’s of the app, team’s these one instances. in

what as So, out motion that their and here. it update does time, have PC create latest well. these And releases in is Microsoft Cloud via instances, continually our evergreen the real builds updated rolled as apps gets

think I to So, the entry help increase lower increase to to ability barrier that will only and our market. go

AvePoint’s good So only it’s from perspective. business opportunity

Nehal Chokshi

Okay.

your I hasn’t capacity. sort they outstrip sales is more to that yes, there? So, still interpret your of the growing not growth strong, therefore That as interpretation was that i.e., is tapering, remain correct and opportunity stabilized answer team’s pipeline continues

TJ Jiang

Yes. Nehal. That’s correct

If side our at business, reoccurring you north of look the we’re Right. of growing XX%.

north So, plus. pure are of customers XX% growing reoccurring growing SaaS, XX% and actually cloud pure the is

see incredible continue yes, to market. in So momentum the we

Nehal Chokshi

your expectations Okay, ARR color great. then? And year how then the does balance the for year-over-year that of

TJ Jiang

So against some constructive and we now, right in being guidance. are macroeconomic our uncertainty volatility this

maintaining with we revenue our XX% consistent So, guidance growth. remain previous of this

Nehal Chokshi

great. revenue gross retention XXX% retention revenue net up-sell can rates? rate then that disaggregate and Okay, into you rate And

TJ Jiang

those continue towards. the are that retention to our the meaningful continue on NRR, retention metrics don’t tailor most on that. and rate, to our we’ll growth, highlight continue Yes, we discuss feel to rate, like net improve business ARR we And because growth focus we we’ll

the KPIs. operating entire So along same essentially is organization the

Nehal Chokshi

thank you. great, Okay,

TJ Jiang

you, Nehal. Thank

Operator

and [Operator Instructions] proceed question question. Our from Essex next with Goldman Sachs. your is Please Brian

Brian Essex

a guys, you forward? puts Better than and and Hi, what meaningfully margin some expected. just expansion expect I the in quarter. to quarter around looks Maybe margin. margin, takes guess to It we back better saw circle provide if ups. follow one couple with Sophia, like gross on I could going this the gross you

Sophia Wu

Yes.

than partially to margin. service revenue was result also your shift gross to subscription. of in the due we mix higher towards expected a continue Our margin But improvement it’s as

to the year. level gross expect through do remain this rest this margin the at of we So,

Brian Essex

incremental Is a margin margin points, scalable these gross scalability kind How that about was that like forward? incremental – improved over like this on – I subscription, segment think as margins, looks it to of do platform? added basis mean, the basis just Azure, going and XXX well, of was it, over sustainability per levels subscription we

Sophia Wu

What expect for is continue quarters. We future the true. you said would to this

Brian Essex

ongoing to you’re incremental into the progression to I better those think Do two? we after in we so well. in think in over shift your of had, how next of expectations? given do that, you’re obviously, that Any Given balancing about think main platform we’ve kind forward? a you investment of profitability strategically, years. about of focused that’s margin the wondering how on expansion I of year a Okay. helpful, approach investment very going kind And to as growth on before just But some market then the several visibility this, opportunity add expansion guess, made operating had you to that kind

Sophia Wu

want We to shareholders. reach and Yes. between provide always balance our growth a meaningful return to good

EBIT XX%. target and growth be at to margin XX% term our in non-GAAP term we the So, long long expect our

Brian Essex

back the in queue. follow-up I’ll hop Okay, afterwards. Thank you. I guess But I’ll

TJ Jiang

is ability Yes, us. we of We Thank Brian. to the TJ, have want perspective, clearly TAM to in business you, from front this massive capture accelerate a our that.

yes, balanced and and XX Rule we we growth SaaS want as benchmark profitability. the of play between growth, that stay north So revenue play against to will measurements companies. a Ultimately, nice guidance

But we continue whether we’ll versus on. the in to to profitability, So, after growth TAM profitability XX% XX% us work XX% ultimately, something versus want quicker. front neutral of go that’s or that’s growth

Operator

for would Okay, to the and Co-Founder closing like to ladies call and gentlemen, And we over have turn CEO reached session. the the end question-and-answer back TJ Jiang, remarks. of I

TJ Jiang

you and support. work I taking to the you your Well, our listen call. your thank hard support. AvePoint investors for AvePoint’s for employees for to your really first you, the for everyone. appreciate earnings Thank Thank time

on our execute to out laid have Thank with you. previously calls business, continue forward and as look We we we future you. earning to

Operator

conference. This concludes today’s

your participation. for you You disconnect lines time. this Thank your may at

AvePoint (AVPT) 11 Aug 212021 Q2 Earnings call transcript