AVPT - Earnings call transcript Q1 2022

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Operator

Good afternoon, everyone and welcome to AvePoint's First Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, today's conference is being recorded.

For opening remarks and introductions, I will now turn the call over to Marc Griffin, Investor Relations. Please go ahead.

Marc Griffin

Thank you. to Quarter welcome Earnings and afternoon AvePoint's XXXX First Call. Good announced be closed. press discussing we'll in the market Today, the results our after release issued me is this the With Dr. on call afternoon Chief Executive and Chief Jiang, TJ Jim Caci, Financial Officer; Officer. will business for the XX, the review March results ended begin with quarter TJ brief XXXX. of a first for review year results company's call for then the second XXXX, for up outlook we questions. quarter first open quarter, will Jim full the the financial and then will the followed by the that could results note expectations. uncertainties materially statements will that involve forward-looking Please management's this include cause call risks from and to that actual the differ We encourage our complete in a you contained more review to description. harbor statements release for safe press the AvePoint rights with All all sole in materials webcast of is reserved. the the copyright property and measures, prepared with in margin operating certain this and income note operating accordance measures describes presentation which Please not including non-GAAP are non-GAAP U.S. non-GAAP GAAP. The and management non-GAAP provide in the they presented performance. operating with means presentation how believe we understanding this as measures the company's are of the evaluating investors evaluates company's measures superior These or from a isolation as be accordance in U.S. considered for not prepared financial substitute with measures to should in non-GAAP GAAP. copy Relations XXXX, not Listeners ended visiting XX, of obtain a press section Investor by a release the have March the of the may website. quarter copy who do company's me let to TJ. call that, turn With over the

Tianyi Jiang

delivered million, ARR to guidance. XXXX. the strong up ahead revenue great We very continued We progress million XX% today. you, and period Total for report Marc from start. our Thank $XXX.X SaaS robust and map. grew solid that which to first On thank $XX.X SaaS the joining highlighted was road us pleased by total to I'm year-over-year innovation a growth is you the call first $XX.X everyone on was on quarter revenue million. to XX% our XXXX quarter, revenue same off of a of

set AvePoint innovative of the XX apart. needs to create our meet the commitment past Our years solutions over customers continues to to evolving business

first the collaboration cloud platform with which many we a well exciting of Microsoft enterprise global a the With our than and services ensures why quality compliance more Salesforce data an priority, The businesses resilience ensures to the to different secure their and as able requirements. as global sustain of XX its application business quarter is technologies data, of centers and HR cloud between as engineering and continuity. local firm data enhancements shifting leveraging leader platform satisfy This across protect data half application, people confidence XX% organizations were with testing identifying that spending XXX our optimization scale a business to environment IT protection AvePoint sovereignty extend top connections around confidence the use no to entire with The was enables onboard continuity its other also the world platform. can in suite to of and retention in CRM XXXX regulatory to successfully guidelines. data deployments and of in ensure data Salesforce

integrating transform compliance to organizations the system as from for suite next, integrity Fidelity Our one capturing SaaS way data the data or work. preserves to users streamline applications

users turn, to addressing develop life control at for deliver of Germany, security, enables XXX XX,XXX governance owners and budgets, department and users Microsoft provisioning, its mission, food, collaboration energy basic can with building. our and businesses services to In to or so of solutions it the cycle and Our needs empowers human focus on businesses customers automating scale This, users, we're template. control workspaces. delegated IT suite repeatable automation and in their central licenses, business spaces

is reduce and disruptions, to global Microsoft the XXX costs save largest with enables productivity one managed and supply navigate shift and to and our transportation decrease time, this exposure its increase using continue order commitment point, With mindset centralizing the ensure that companies file world's the its is management to charge and to platform's its customers. follow on risk governance its for XXX of through providers integration from its to of excellence many shares protected supply achieve easily As chain chain firm deep in data Workspaces, its to leading restored. logistics Microsoft

the like implementing Treasury, help reflects support able cloud daily recovery. XX invested last initial that with the the cost to to in group XX Department point, XXX and need solutions of highest as regulated its years The marketing highly of with to group with our number user's XXX federal of recover Since in ransomware unlimited Confide. others our to IRS within Workspace the introducing and ransomware seconds resilient of their offerings, a detection offices sector agency it hit to of global XX/X mci including we data XX quarter, dollars. transformation the companies data the countries capabilities journeys, and the execute introduction the granular add Microsoft internal including public millions Ransomware mci tax Apple FedRAMP with digital protection beyond year, with confidence. of retain During quickly underway upholding SLAs engagement and attack new products, was to our platform released XX the organizations the two our well protection U.S. ransomware and suite, documents the its Entrust with experienced confidence our in and transformation our U.S. a solutions, financial data industries for in for State, including upgrades backups go we Microsoft Salesforce of extension FedRAMP security in ability years for as standards collaborate importance organizations. achieve OneDrive, for platform restores multiple data. to on that across to authorization and realized with authorization X robust data to for retention additional every When partner the organizations documents of resiliency authorization of companies digital With and and Google satisfy

small As of through transformation Apple restore FedRAMP to Digital business ability backup administration a with transforming reduce out Salesforce our data automatic interact and Salesforce working business critical to a of loss now the containing content content also is for transact. another and place environment. that result risk of authorization, to is way people

e-commerce, a XXX like and point, greater continue growing how With are dashboards Microsoft into can users ecosystem features WPP XXX adoption. gain through understanding now adjustments innovating visibility WPP entire with power which Microsoft companies productivity. the As world applications, site better innovation its accessing of offerings most in people appropriate shop make collaboration can give its for so and that through full around using XXX,XXX are and management this the streamlined manages employees to operations SaaS increase and consolidated its secure to they

as workplace of cases We professionals well of collaboration. the secured customers Confide journeys business Slack differentiator well tenant Confide, Confide holistic purely enterprise-grade and room that access launching data channels program use privy A environment time community private business citing of our businesses can a last own the partner we medium-sized merger Workspace. reach deals M&A sensitive in builds recent where terms small- power also virtual through organization's to found us are global expanded respondents Google available A to on its be digital launch security to Confide over our managing the XX% as address The despite tailored as Teams, positive who from rates with with launching into concern. accelerate virtual only how powering Deloitte typical a growth innovative leaders modern our feedback within through to the our confidence platform, in since flexibility acquisition as apply. exist mid-market as same organizations a have partner well evolve XXX purpose-built applications highly to positioning businesses. of as key Since survey cybersecurity user it half is Office their XXX stores information. the our to Fortune data should other for as technology Microsoft and forms as tailors continued or July, partner customers' other within of greatest

Our channel geographic line ecosystem and expansion market our continuing in with is segment expansion.

primarily the to ARR of by XX% our continues expected end business reach total triple business of the and in focused is SMB this market channel on our portion MSP of digits grow to Our year.

in continue them and D&H through a play services role Strategic channel deliver partners marketplaces. with in well D&H the our as partner their to technologies we new services VARs key like distributor market enabling distribution cloud segments. as SMB solutions equipping us D&H, During partner of like fast-growing cloud a solutions advantage take modern of SIs America. leading technology distributors enables North to and quarter, by in-demand added expanding across solutions the in pivotal scale team IT cloud to managed

an help meet and introduction tracks solutions. technical our our evolving level technology the in Finally, of with and business source ecosystem technology with to commitment cloud It our launched we of partners them expertise custom a extend certification and to also to the will AvePoint best empower differentiated use of signal design exceed program needs sales AvePoint's more industry-leading competitors. to

to team market customers our problems. trends sales business, complex continue quickly help responding and direct solve enterprise evolving to their Our drive business

automating protection smooth firm, of AvePoint IT collaboration companies firm management while their and processes requirements, they and to serving can customers. Microsoft and reduce continued ensures Microsoft to productivity. for consulting XXX the multinational business enabling Sycor, time costs on communication, data focus and its can As greater so Teams like adopt meet save GDPR

existing and in cloud saw own also over gain continue base up customer cloud XXX increased their to We The number look customers success with XXX,XXX from ARR as of XX% year-over-year. they more value their to investments. our transformation QX, with our

in Since shares. goes I the have million repurchase summary, repurchased last Jim over to touch to In share our Jim activity. drive first will over approximately we on $X.X solid on in want our discuss now, results I'll initiatives the turn earnings to strong we Before execute numbers, reported our and which quarter that, it a With more to to detail. financial XXXX. continue a

Jim Caci

you, afternoon, and everyone. Thank good TJ

XX% global XX% revenue a dynamics of to metrics, in result review please the to website. year. A came financials uptick also business license and million, up continuity year-over-year XX% in GAAP first Within total available our to million, last year. to of of to on XX% reconciliation total SaaS Total that million, came were up at in is XX, XX% results year-over-year. non-GAAP first $XX.X which $XX.X quarter our XXXX, of today, otherwise for the earnings $XX.X ended As constituting compared XX% total up noted. quarter due constituting year-over-year revenues and at included the revenue in is compared shifting revenue, March The be release note term is in license last referring market. I I'll revenue of non-GAAP requirements revenue total revenue total as today's unless Term of revenue XX%

drivers Some of sovereignty, include recovery regional disaster data those and redundancy.

As of $XXX.X had of the a of representing quarter from ARR million, ago. total end, we XX% year growth

ended ARR had representing million, ARR, quarter. XXX% $X.X quarter growth We core up up million growth XX% year-over-year. year a a our total totals SMB ARR in at ARR $XXX.X million, X% ago. now with the and X% our $XX Our in the of year-over-year rate SMB increase from record

operations, As per an their prior driven transformation ARR approximately and which customers average XX% as This account XXX by year-over-year. continues XX% At increase ARR was the account over the growth SaaS core core of $XXX,XXX, from our average ARR well. represents customers year. up continue grow with to quarter cloud of end, per was expand XX,XXX their

retention rate dollar-based expected. than core which realigning slight This quarter due year-over-year. force XXX%, to decrease to be Our the caused lower our net primarily the and numbers sales cross-sell of a for was was ARR upsell

our hunter the we sales As force in motions. to sales a of and implement reminder, realigning the are farmer process

improvements Moving expect in to we NRR. forward, see our

to statement business. let's of margin year-over-year in the slight quarter million, review margin year representing in increase $XX.X Gross decline margin our in the in ago result compared revenue, detail. a profit the lowest XX.X% Now, income is was gross the period. of The more service XX.X%

we a driven of $X.X expanded was increase increase year marketing expect customer as decline transitioning we spend both our sales and and personnel-related compared a At year-over-year and to resulting overall as represents XX%. XX% additional marketing count in as million revenue more and strategies. efforts of our by stream, our million are revenue to solutions. drive our of an This as This revenue in forward, SaaS revenue revenue were partners, revenue ago. as Sales we media or overall percentage the to in organizations same Going an invested head services or fastest-growing our sales service event of expenses well success by to $XX.X channel our expenses we XX% time, margin toward continuing improvement.

sales head distributed in count grown count total by well in have across increase up our evenly efforts to and year-over-year, driven as has awareness functions. in the million in $X.X year-over-year with customer hires head or increase as marketing $X.X year-over-year and marketing million primarily $X $X.X compared The XX%. was compensation, or million our primarily R&D by marketing XX% success, XX% expense million $X.X and salary by benefits. sales events. We Programmatic resulted a and marketing in or is of year increase revenue a spend brand of ago driven XX% period, million functions

of revenue workplace continue innovative expense year and was Our time to technologies XX% ago compared the year-over-year head revenue. the would And our XX% help stay amidst compared the people of transformation. This of up such $X.X customers G&A an $X.X loss of represent these increase associated loss expense approximately M&A approximately The evolving XX%. $XXX,XXX first period. as or company type increases count head to million digital invest of infrastructure-related XX% largely expenses. approximately in G&A professional fees is last represents in ago our we expenses that expense $X.X reflects an compared ramp-up XX% were we've or million efforts, of was a for with million to year including the G&A our $XX count quarter Included or million of G&A our Non-GAAP of readiness development incurred our related in in expenses, the trends expenses in million increase and and $X.X to operating period. in year without increase XX%. to activities. competitive This was public

in Turning sheet cash includes short-term and in free cash $XXX balance used to $X.X million in the operations negative while investments. the We flow Cash million was flow. with and million. the CapEx, cash was quarter, ended $X.X which quarter

of utilized quarter million shares $X.X for million as first in repurchase as the $X.X acquisition. also approximately We in completing our well the

in expectations. use Our was quarter line the of with cash in our

million. to have We at approximately to And we outlook shares quarter of aggregate to the a continued of second quarter have full our the $X.X XXXX. to I price and an XXX,XXX to for end. repurchased would total like purchase turn subsequent shares the date, year now

to and loss $XX expect non-GAAP million revenues we of to For $X.X the second $XX total quarter, million. million operating million of $X.X

million. revenues year, full $XXX the expect For of to $XXX we total million

our to million $X.X range expect operating we to for to In to be believe non-GAAP positioned strong delivering discipline maintain the in We million. a summary, in up AvePoint million be range well of XXXX. to call of line well, results profitability the year-end we'll that, open throughout and top and and loss million execute to of income $X $XXX and the ARR remains continue of $XXX we With questions. that Operator? this momentum bottom expect

Operator

[Operator Instructions]

Jim Caci

our wanted to cash that I take we before regarding questions. misspoke before Operator, pointed begin so our flow, clarify Relations team questions, that Investor out we I

operations was the to million $X.X $X.X was quarter now cash the questions. quarter in go negative free flow CapEx, and used which for our the for includes We million. cash Our can

Operator

first of Our is from Wood & question Derrick Cowen the with Company. line

Andrew Sherman

acceleration to implies in hunter-farmer model Is Andrew on ARR I'll kicking year year? in? over for shape maybe Jim half. anything the through It's the to that guidance the the start the ARR about new full of an on think Great. just on your course year net of to of Or new net get the else back with Derrick. kind the

Jim Caci

to great talk you again. Yes, good to and question

benefit model yes. kicking in. We So we'll see the that is definitely of the short answer

then And two, still seasonal one. business is in that's nature. our So

always the half. year for is first the much than stronger of us half second the So

think So components. it's of combination two those I the

Andrew Sherman

like you about you Okay. work as of through of do maybe is transition kind walk this are And what and just us we left hunter through of type that? to think TJ, through how anything far work to the model through way there or are farmer

Tianyi Jiang

Yes.

assignment big pretty a change dedicated just This upsell with happened. occurred of farming a that QX farmers patch quotas, a also of the are have so and account of end it's focus QX. So beginning lot with there to of ARR

So it now. we're through

and patch and the talent account businesses after. executives have go So all focus their of to

looking good to we're yes, So forward year. a

Operator

our Sachs. with And Essex from is Brian line of Goldman the next question

Brian Essex

Can like It you cut bit. hear little a sounds me you okay? out

Tianyi Jiang

good. you're Yes,

Brian Essex

going I next I Yes, what XX little was guess of to and over that relatively as kind out flow, talk outlook months the cash year. Great. of about well we seasonal a modeling is rest wondering throughout the that or if Is could bit so? to think about how the the be

Jim Caci

question. good No, Yes.

think is producing the answer cash our again, cash. we free follows how full flow where two forecasting year, Similar generally, the then cash. yes. trend of we flow short for be consuming first our similar year, quarters will the And we're cash two to to of the year. quarters about a And So second positive revenue, definitely we're be

way the QX look expecting then positive important. QX that negative and I is, So we're for again, at would

Brian Essex

do Got net it. cross-sell, then I helpful. I did churn could rate, And understand That's look on of hit net mean a you Is part model. anticipate vetted a I What of comments that upsell. the retention if maybe we that like in think in dollar now you retention out like hunter-farmer meaningful dollar there? the that recovery kind it? -- should rate And

Jim Caci

Yes.

churn, are gross maybe been retention seeing two haven't gross or those we thoughts, improvement yet we retention. steady One publishing on So numbers the the the right? is gross but on

trend I there's a positive there. So think

the as to NRR. a was terms point, real firmly model NRR, that seeing for So we of in impact positive the driver again, that on I switching the this very in that's good. And then, shift hunter-farmer mean that, second the on whole, believe of that your QX in started

year. on rest of improvements see the the to expect we that again, So

Brian Essex

And particularly last ransomware TJ, elevated sneak starting see be looking the to I there the one on SMB an of side kind Got of a your backup may with to regard on focus, any can greater in, platform for in market? it. is maybe backup? enterprise to of the kind one particularly business, on are Maybe aspect focus perhaps for the reliance you with

Tianyi Jiang

Yes, absolutely Brian. right, that's

really warranty. customers, security play so ransomware offering for business attack, the SMB and detection also and of governance, the benefiting ransomware are data, from we're especially MSPs, We ransomware platform

extension today. definitely a and bend. So it's need who is and have and exactly up customers what market back for the expansion our asking natural existing It's security of

Operator

from line Kirk Evercore of our with Instructions] next is question the [Operator Materne And ISI.

Kirk Materne

if gives about wonder more that, just I talk bit nervous businesses more that? run seeing? perspective, potentially I with a just and guess, momentum little going TJ, little trends, progress you into you've from to been what should a comfort bit constraints, I just could budget your stability like how continue think the are through So that, comfortable then are people a small you the about or trends And what's to you business about starting maybe just given you year? able be the that macro on talk things smaller behind

Tianyi Jiang

the Thank is segment you, digits. three us business the in fastest-growing Yes, for small Kirk.

business. are of have We ARR a fast. small And X,XXX employees less forecasting for that growing companies should year. being be we the XX% or really for our definition It's

So that's pretty generous definition.

a regard, that very, in market. is very there big So

we MXXX total look at of Microsoft's ecosystem market. segment, that that's about In XX% their fact,

providers, vertical a managed tackle. for a we us. growth. service treating field We're us, MSP now It's to are for as great So

trend. continue So we're growth that resources more that to adding to a lot

Kirk Materne

all getting bearing business And then have people terms in sort Office Microsoft a or any in through bundle be obviously, the might started bearing pushing business in I be they're it? any helpful. perspective? on March. guess, a does that price as at That's your reevaluate what does really what might wondering from increase on your in have trends of it, bookings of on was I XXX that Microsoft it and for not

Tianyi Jiang

various compute. across Overall, increasing you there's prices inflationary across pressure see across the storage, market, platform providers

their for Salesforce. Google Microsoft on Cloud as customers value-add it's investment to maximize So for extend and that, our now our really to

a see from well. actually we So as benefit that

investment. help to So value to to only us customers add, so provide for to and that our helpful partners it's maximize continue their

Operator

question next from line of Jason Ader William with the our And is Blair.

Jason Ader

cracks TJ, said you're Just your didn't seeing might environment. on first prepared have you currency things update suggest catch the question you address macro did also you, whether of leading or the the early guidance. impact in might on that, kind from that kind any quarter from globally? then down? any Jim, or I of remarks signs specifically are of indicators slowing in but in any And impact

Tianyi Jiang

the directly we Russia. I'll in global take or first and their Western our because multi-cloud impact sovereignty about for it conflicts though From now for hybrid is have because customers, concerns, we Jim customers, that. are to But more of a for because we see talk Europe we businesses Europe, one don't there a doesn't the in scenarios climate any deployment we the perspective, purposes. lot or us very what German seeing, data have large strategy and see looking example, will FX. European that Ukraine business as Historically, expand -- But resiliency are ask. continuity Eastern regional of

you up license this term see So well. as creep some

all private we're for centers hybrid So very or it's or deployment data on-prem, well type multi-cloud. scenarios, whether of us, situated

there business contingency we around that the for see So planning. continuity just trend and that is focus

something we can excel we're some offerings." that in physically into XX -- because it's the "hyper of it's us, localization that Jim? actually on into, FX, especially lean countries. for So We offering So different

Jim Caci

Yes.

thanks the So for question. Jason,

what FX, about terms in thinking then was unanticipated of our we impact So into on almost only process. X.X really in we saw about planning of had the And factored revenue. in really FX FX point

not had baked the what plan. kind compared to into we So of really material

Jason Ader

are the Great. momentum from specific And then seeing you, TJ for which SKUs most you now?

Tianyi Jiang

skew. resiliency the service, a as backup our see to continue We

mix uplift last the quarter, mix mix. of XX% about of from the now the X/X about As we is stated quarter-to-quarter

So that's definitely a big uplift.

continue see of in one amount The a specifically, we QX migration. tremendous to is second

merger there. to use digital will from we people cloud to go be are That acquisitions. continued divestiture something ever that's think that So even end, migration continuing different We cases into on-prem see don't a moving will that or transformation honestly, environments.

Jason Ader

cross-sell I than of Last right. on product, a just with Jim. customers one would updated two me, metrics? about be products. three past, the update you more for for Any Any more products, metrics number in there one know talked you, than helpful. than All more

Jim Caci

Yes.

that gather there detail into gone to report I we're have that information looking not it. But something we're that enough those It as We Thanks, publishing providing of now, on lines. and in I think on guidance mentioned is repeatedly. any along Jason. QX right

Operator

our the Northland of next from And question Nehal Chokshi with Markets. line Capital is

Nehal Chokshi

you of double click retention has Yes. Can the the just here on a sales dollar-based back net in the, step why Q in XX-month rate? reorganization March organization showing the revenue resulted

Jim Caci

the Yes, things I as on it's of kind think when they weren't focused it look I having just we normal of some in about focus were and at people earlier, realigning you function them previously talking having disrupt think the on. organization

ultimately creates little move while with think it a and naturally forward and to for to it embrace it. and a change little I took people absorbed change that be for that really

forward anticipated individual and this now. most we those that was change. it challenges like different we any meantime, it some with of this think embrace QX. believe the that through hopefully, have transition is strategy and we're the we And for But I past roles. think people move through going us again, but has to other in no transition, again, it in So of we're focused some and And right again,

Nehal Chokshi

when quarter did Understood. And just the transition quarter, during within begin? that December clear, transition exactly to December be the sometime that began

Tianyi Jiang

QX. of end was It

improved. gross earlier, we So the mentioned retention

people retention of is their renewal new improved accounts see upsell in change. and gross side what So That's names, actually taking new create their where adjustment to seeing literally NRR the distraction reassigning names accounts, the you some or away it. was are we're what where this

in also salesperson their goes comp That started with the depending about of patch, plan plan. now on everyone's along different we every accounts cover. So Think a comp process how in number that have they many QX. end will

quota that XX Some and natural down to a going we for accounts have their will amount XX derive then rep. thereby patch reps from upsell ARR and accounts each could be own

different So, the every depends actually they rep on patch has accounts size quarters, and own.

introduces being reassigned adjustment a there's So of lot that accounts and periods.

Nehal Chokshi

I did acquisition? And correctly your see, completed you saying have I hear first you okay. that

Tianyi Jiang

offer asking have because integrated That is training XX-K. vertical training integrated management as education the The correct. to and a to are higher the commercial. now fully we training space and integrated It's in We details industry's completed only our -- sector. in domain acquisition. well expert Microsoft tuck-in It's management first management management, learning as with that's education XXX Teams solution in

Nehal Chokshi

I see. the didn't Could you I'm review capture acquisition I the from briefly XX-K. just financial of sorry. details then? the that

Jim Caci

Sure.

So for to like SGDXX than in million But It equivalent end the a components of acquisition. of it. our of about of million, very quarter. was again, TJ a at The had revenue less we little said, the US$X acquisition couple a, end February completed had little on impact an Singapore, had it a February. essentially, it's was of value we actually transaction where made the

Nehal Chokshi

Got it.

repurchase deploy And not what very Okay, you faster good. then why did? your than

Jim Caci

week. process great our amount We it's question. we What we So and every do target. systematic said to we're set it said set see first a to a to was seven the purchase recurring fixed to where purchasing touch advisers when of it where we going were implemented first kind not a of a that with we weeks And plan decided what six up a set we we the happens. program for

we're program. first of, kind time is repurchase this the a we doing So

a approach number it specific kind so set of we've and advisers And help executed we we set how with we goes. systematic wanted see again, and of just the And a -- now. you we increase That we or at suggested revisiting that's currently or looking that. are if either decrease but something to upon as want is the we to see we're something to level continue same at

Operator

And Sachs. the Brian of line with do from have question we a Essex follow-up Goldman

Brian Essex

noticed Maybe a purchase million. investments real give us quick in going the on cash clarity just little housekeeping and $XXX question. a flow Just touch of terms statement of that about on there. just what's the on

Jim Caci

Sure. do -- has to T-bills essentially. we're just purchasing This with

we months. extended that T-bills So quarter, beyond actually and out three bought were this went

as them accounting And so investments is the got classify short-term to just cash. to rules as opposed you

so so... it cash thing as it's technical cash and still a we're accounting And viewing essentially, equivalents, but just

Operator

we back further Jiang queue. the turn closing in for have now the call And no remarks. over questions to I TJ will

Tianyi Jiang

for and your everyone, time your you, thank Well, questions today.

process, whom partners expansion a well disruptive scale. strategy stay bleeding of We Directors, about our and edge a for the continue our to do the scale with go-to-market basis to experience continue Her leading recently AvePoint. our strategies on provide value us positions ability to potential proven a to where to worldwide continue today It's deliver expenditures. while enable be prudent being key acquisitions, existing market with and and operating continue confidence continue it we Throughout positive to of product brand, do and increase logo just as important we to the and now, of have go-to-market that very exceptional the our XX-year our collaborate market Board to at organization will an so. right partner company's shareholders, we'll Schijns. for our that appointment offerings, our we of to on expansion dynamic channel evolve annual to of and global powerful ecosystem the channel, announced growth customers service of grow that our programs the With in both Janet continue growth enthusiastic growing the one perspective we're flow ongoing access which at to customers. our us is in for new cash member I'm will vectors. newest innovation, history, confident our one help we achieve highly continue clear and unique We'll global We a create

recent shareholder confidence and at that Annual to my execution of our for approve and to to affirmative, you. the renew current in market and XX% want Directors the know With trust With thank shareholders of I appointment, executive deliver that, all our shareholders consistent it faith and to compensation. privilege of have Board your over Shareholder on senior to Meeting thank ultimately ability focus is navigate conditions, long-term we vote nearly Lastly, value. to a in shares our voted XX% our

Operator

day. thank ask Thank We participation and your you today. great have you for your a and your conclude That you that for does please lines. conference disconnect call

AvePoint (AVPT) 13 May 222022 Q1 Earnings call transcript