AVPT - Earnings call transcript Q2 2024

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Operator

Good day and welcome to the AvePoint Inc.

Second Quarter 2024 Earnings Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to James Arestia, Vice President of Investor Relations. Please go ahead.

James Arestia

Thank you, operator. to Quarter welcome Earnings and afternoon AvePoint's XXXX Second Call. Good afternoon on the me is call With this Dr. Chief Caci, Chief Jiang, Financial TJ Executive Officer. Officer; and Jim a to this remarks, session. Please and statements uncertainties preliminary we cause open from risks call After actual management's could results expectations. will that involve note materially will call for that that include differ forward-looking the question-and-answer current release the you harbor statements press to our description. complete review safe for encourage more We in a contained and non-GAAP copyright webcast reserved. Please non-GAAP the is non-GAAP operating property are measures non-GAAP all describes the in margin, gross and AvePoint material rights not of sole prepared note certain All with non-GAAP gross margin, presentation accordance this in income, U.S. which measures, operating including profit, with GAAP. are they in we operating of presented a means performance. as presentation provide how with measures management the believe understanding this The evaluates company's investors non-GAAP U.S. to or should prepared in These substitutes as non-GAAP considered with for, from, measures in financial measures isolation not superior be accordance GAAP. to me comparable A press these most our as over website. With on as quarter of our XXXX are and tables, which TJ GAAP available call let is Investor all our reconciliation in well financial measures that, financial release, investor earnings measures turn available presentation the second of the updated to Relations directly

Tianyi Jiang

Confidence our for At key same on and again execution security Thank to call reflect results the enabled you, joining once today. which everyone and reduces focus another financial Jamie, the quarter, and steady for all enhances and our ongoing data AvePoint time, profitable thank us We're the deliver on our improves guidance Platform, resilience, and you exceed the to demand strong pleased to customer cyber metrics. costs, growth decision-making. us

critical tools the of rising tensions role digital organizations and data the maturity, between AI the As current becomes readiness clear. state grapple increasingly of their for demand with

a further data challenges multi-cloud governance become more is need and sophistication in frequency underscoring cyberattacks in pronounced only what typically our is escalating, the we Additionally, These and security. and see the prospects. environment, of which for robust customers

AvePoint solved XX because platform position and growing that proliferation security. trends macro pace have time, exceptionally need these increasingly more threat problems than together, an kept has environment, data, dangerous we the their the well with evolution Taken of years. for And our data over for

time expertise and outperformance confidence more these in providing raise us have guidance urgent. technical management Our and the Then, my will brought us these discussing performance global financial this year playing to customer our in where innovation from quarter, this second detail. wins out more see never the spend has again cover and share driving moment, trends across our to some Jim been We updated business, expectations. I'll today key and addressing needs quarter. our full our will the data

that knowledge contrasted appetite customer with the tied closely panelists navigate implementation the AI digital AI. a journey. where an with Starting hosted the in. reality generative to prerequisite deploying implementation AI foundation crucial and leverage with digital jump of to that how for I let's in success discussions AI, their organizations The most reinforce of So workplace a organization's with workplace to a to is event the conversations and confidence. demand on strong CXO a currently attendees practical significant the I AI revealed data maturity. gen strategies is These had recently are

at with of modernized the that organizations and woefully finds workplaces and pace their to addresses generative hinge happens of Gartner, this maturity hinder management, back strong the the have strategies data data AI which infrastructure only digital today, keep most workplaces, which integration often established immature. assessing reality stage Gartner fourth up. X-stage the issues digital data on are effective that adoption. And a from Statistics is that AI model the successful Specifically, technological after AI security changes.

So And the the critical are their X stage can have in organizations are successful than This comes recent assessment still action reached most integration nearly where in. to generative XX% less Gartner's and AvePoint fourth organizations modernize stages X% AI just today? data. is starting that first shows where where are to take of occur.

healthy manages demand data is competitive our data our Our in AI approach digital platform. for landscape. This rapidly multiple see estate, customers' ready which can why ensuring spans continue often to environments, remain a for is evolving their pipeline entire a and cloud we and

of other is wide unique remain the to ability technical Confidence confident while challenges, AvePoint provider and of us. I these Our enabling of continue selling opportunity environment, to a across that that will more existing highlight macro customers. can capitalizing challenges, no on few want software data match. ability a And logos even recent ahead the had of we're high-quality demonstrate turn security in addressing the something data our enterprise, the governance as wins Platform swath solve we success long-term in adoption in and acquiring the management our in another strong resounding AI to quarter cautious new customer to data and team

build team's from the suites, streamline all their one management After from Let's users a recent for challenges banks, scalable financial quarter. records customer into framework, meet secure survey cloud. policies. data products the data management, an in AI. data service could start data, was the of of They of quality and with This the not unstructured securely global scaling moving to which classification McKinsey investment particularly world's one led the legacy XXX,XXX AvePoint Fortune the that X unify purchasing with financial them records data, to created, prevented governance become the XX a their of largest biggest new service industry, requirements found security organization where a can gen legal

the gen to As going visibility data deploy positioning risk a confidently result, they reduce will tools of realize improved breaches, and them quality more AI and forward. data

XX to Microsoft policy and organization their sensitive data manufacturer XXX, in financial across but understand from could ability address Control environment our oversharing workspaces, enforcement for Control In concerns, purchasing problems existing workspaces At these customer XXX controls said our Copilot ownership, the and data in a automotive new wins, services sought data. XX,XXX Suite. AvePoint Fortune Another face Microsoft a users. implement services purchased many we they and of was times, a their managing until allowing our financial industries. In just automotive demonstrated giant purchasing security the XXX customer the order have multiple this a institution, to manufacturer a not manage expand Suites. and oversharing healthcare particular the solve which XX,XXX win After mitigate like digital QX, and the users, Resilience their the for became challenges Fortune ones we are to multiple begin ensure their data described. but I governance of both comprehensively to saw time, U.S.-based vast future solutions quickly the to fantastic proactive to regulatory Suite, them from we compliance, products confined QX, our as These healthcare prevent in investment entire proactively we are Control set across in same existing products global risks not customer deploy of

secure stage compliant just a remediate users. These and oversharing, a the Copilot of elements generative of strategies, can AI implement solutions Microsoft for management establishes examples data to data for and adopt organizations ensure setting across platform their environment driving effective our governance, the adoption how XXX, successful few transformative for around the foundational and world. of policies, outcomes the digital are forward, they quickly AI Going and data and access identify XXX,XXX including

innovate which, XX% Before addition and I on for to strategies and be today. platforms turn want Microsoft of a it spend discussing diverse over XXX, as business our the to continue meet the Salesforce needs enterprises, evolving needs. to moment recent this a Flexera And in of of confirmed customers, have many we Jim, I to survey such to meet Google whom to how case nearly multi-cloud depend

While this XX% XXXX. business risk, management Gartner addressing that governance, as approach cloud introduces up challenges today sense, will makes from misconfiguration. data reported organizations this such of in it XX% and in significant also good prioritize

we empowers Google and Workspace and maintaining protection significant cloud customers cyber recently especially this One the Google adopt for Classroom. is are compliance maximize seamless and of protection one partners. Google data the span SADA, the have top data our into world's resilience. AvePoint Platform confidently AI award-winning entered have to multi-cloud we partnership ensuring integration solution partnership while expanded their strategic security our approach, solutions protection facilitating multi-cloud standards Workspace organizations will and ecosystems. be across AvePoint evolved, Confidence with our example the leveraged data for As where high environments, technology, commonly of the the And SADA leading offers that regulated most cloud now By industries and protection strategy paramount. for

the manage Control accounts Suite. For ecosystems, solutions challenge To example, environment, and major acquisition struggled report across multiple grocery effectively a Fortune user compounded chain. America user this chain from leading purchased expanded to by our XX of manage X XXX,XXX recent cloud another their North on a over company further

AvePoint their support potential. tireless turn excited meet I let to improved transformation. harnessing environments. To efficiently is across to want Jim. security of this me critical and security, cloud By efforts a quarter, positioned when organizations our risks know Going forward, realize how and the speak and more half resource XXXX. With conclude, multiple second we over mitigate AI-driven for I of for to of its uniquely the and challenges thank now I can to clients am call requirements, for governance, workspaces while security team data toward say I gen their they them empower the data governance strong I management, journey the that, full in AI, allocations, manage audit and addressing users

James Caci

us afternoon, today across of for we TJ, everyone. the another Thanks Thanks, set board. good results strong joining review and as

on delivering controllable, well line we an commitment our Rule our in consecutive been progress XX You've and margin pleased full execution positions expansion, With since GAAP team's XXXX. our as has us and toward value to AvePoint are meaningful growth to to and that, raising year profitability to QX beginning continue and the we XXXX, heard let's step of both the deliver way. In controlling discuss operating today, of results. quarter us our shareholders of ongoing targets expectations our of focus each growth uncertain top the our the turn macroenvironment, profitable to sixth

total XXXX, XX% of $XX quarter revenues second and of end XX, the June million, ended high guidance. year-over-year increase an above our were the For

total approximately million and XX% SaaS on a In trailing revenue basis revenues are pleased year addition, total year-over-year And million, we Within $XXX was XX% SaaS XX% to of fastest-growing XX-month this total continuing that ago. $XX.X be to our reached quarter. quarter compared QX, in segment. growing comprised QX second revenue, a revenues, revenue

a as well revenue year-over-year our Additionally, maintenance expectations time, revenue. revenues lines we called were our a last year-over-year commentary. other of only as but revenue, services license total XX% grew percentage, in support, our quarter declined XX% because as as revenue and QX And highest-ever our is perform with percentage dollars mix XX%. X% percentage line to same services of continue second and in declined recurring and the revenues the nonrecurring surpassing Term both total our At of business, out quarter. to recurring,

at look our as over revenues grew turn same APAC, year-over-year regional grew year-over-year. The total XX% year SaaS business and strong of again, XX% the America, ARR, over results provides the growth contributor in North year better look of have Our represented which which, year we year year XX% strong over in EMEA In everywhere year. represented represented EMEA, And SaaS at over North as revenues, overall we perspective. a strength which SaaS Each grew revenues In in we America momentum evident of from SaaS grew is a over APAC of regional region XX% year to performance XX% turn is view grew turn performance. in the in evident of operate. and revenues a XX% revenues, which said, we XX% also year. revenues, XX% underlying and was, as XX% total our grew year year total

grew grew each XX%. ARR EMEA, APAC and XX%, America and ARR North As

and quarter, to want I metrics entire our other basis. a $XXX ARR Lastly, for key team million the on efforts in EMEA achieving ARR quarterly this EMEA assess milestone. Continuing their this and total we now region's surpassed congratulate with

million, XX%. growth ARR XX, of was As year-over-year XXXX, $XXX.X representing total of June

and a As million net $XX.X grew was QX new year-over-year. XX% result, in ARR

increase of ended we with quarter the the second prior year. an of XXX customers with ARR from Additionally, $XXX,XXX, over XX%

to ARR As XX% XX% channel, to for ARR of came of XX% total year our of And the compared through QX, channel, our in XXXX for the incremental through XX% and came end of compared of QX QX a XX% specifically, ago. the XXXX. QX of

delivered On and 'XX QX our the quarter second QX. of the was gross year customer for compared the a to was FX-adjusted and a Adjusted of XX%, rate rates. QX. retention in with net reported was XXXX. QX and quarter NRR GRR for and an reported QX was XX%, to line our ago basis, impact line with At retention XXX% retention our FX, consistent for our XXX%, XXXX XX-month XXX% of we time, same from improvement rate QX in with in performance QX in throughout now in trailing to XXX% XX% QX. compared Turning second in the the XXX%,

The of million, and is result a Turning Gross revenue gross back as had to XX.X%, margin services percentage as of a in representing our we the XXXX. margin product gross income QX for to was SaaS of QX again less $XX.X of more overall our revenue the compared mix, revenue. our statement. in improvement XX.X% profit

In services quarter, SaaS addition, margins we this to saw last compared and improved year.

Moving or revenues, of the year XX% revenues statement, of for or QX million, $XX.X to million, a operating compared $XX.X XX% down totaled income ago. expenses

basis was result, of margin or XXX operating $X.X a an points. operating a improvement of XX.X%, QX As year-over-year income million, nearly

the Our management well the and most efficiency guidance was X primarily the factors: outperformance revenue by first, QX line; to expense ahead of the improved of proven operating income flowed our bottom beat, second, which driven was sales and across meaningful business. and

for now are XXXX. in early planned expected expenses that had of half in addition, originally approximately we the of year second the QX and million $X In

GAAP together, ongoing and quarter expansion in another resulted our profitability. to another step Taken commitment to growth our profitable of margin was path on

from X and cash flow the XXXX, million quarter We ended the short-term cash XX, June cash in months And second for investments. and ended to from sheet $XX.X free was free million. operations of first of generated operations Turning with statement. balance while million in the million, million flow generated was $X.X XXXX. of cash This months and compared flow the $XX $X.X X to cash cash $XXX.X

for are income. the During to outlook, we for cost raise June XXX,XXX would to to expectations $X.X X financial for total of revenue, again repurchased where non-GAAP months the our ARR, turn now a our shares approximately full million. I we ended pleased XX, operating like total total and year,

midpoint. or growth of year-over-year For to quarter, $XX expect $XX we revenues third the million XX% total million, approximately at the

approximately now $XX.X line outperformance at growth expect profitability $XX.X coupled of our year expect income for $XX the We at to of the to these growth of to of approximately And year-over-year million higher million million income operating full or $XXX.X XX% XX.X% revenues non-GAAP margin of $XX full million, now top expect the we an we XX% million. on midpoint. And with now midpoint. or million, $XXX non-GAAP million, operating XX.X%. year, expectations, or to operating expect ARR total million total to this We quarter, year-over-year $XXX.X $XXX given

a a your in we margin, to guided questions. to is guidance us guided sum of with operating May. In our an AvePoint we to updated for the Thanks would team XX that continued XX, growth was that, XX on XX Rule the the happy today growth on for laser-focused February, QX execution. ARR and initially take of in AvePoint, and for the reflects joining be non-GAAP profitable Lastly, the outstanding summary, for basis, year compared to we quarter remains and today, and and Operator? which

Operator

from [Operator question Wood first Instructions] with Derrick Cowen. Our comes

James Wood

the behavior perhaps more seem obligatory and I market would like sizes change, or across when macro buying just you in there looking you much or describe seen customer deal out question. better have verticals the the out cohorts, anything will getting Maybe how or that's throw guys Doesn't challenging? but just

Tianyi Jiang

Hey, Derrick. Great question.

growing our of customers On optimize the whether hear industries. Enterprise very conservatism, the to multiple also with all you prepared it end-to-end enterprise, SMB, and the -- our strategy, we In we end platform geos, data as all strength. with strength data implementing them that also positions consolidate are continue to type win of macro, that the customers we At to lastly, seek same. to have costs, and this on is Confidence from secure AI us to to across continue based and things to where applies partner is remarks, deals before well, are our we well. And mid-market, to and day, that the well same continue across we vendors. as play management capabilities, and them Platform need allow works

So us. those for hold trends still

James Wood

that that data in adoption of address more can on studies And could TJ, guys initiatives. driving out remarks of if and that's projects and obviously called Copilot. around I've we lack That's are you readiness your where similar you double-click holding Copilot. on issues governance, maybe information seen help just come of there MXXX back prepared those

So can you're driver how you about into where bigger just thinking Maybe how the trending this has and programs? update in readiness on you're becoming an give been of getting us activity pulled model? volumes share Copilot the a

Tianyi Jiang

great Yes. Derrick. That's question, a

So we experimentation with strong readiness Japan across yes, Copilot companies. as the customers see have a especially do to while X,XXX-plus of conversations employee-sized AI very that very, of Suite it see in had we we we see we because size have as governance well, continues. cloud. geos. What experimentation. showing all deployment, we the very as in do ton the quarter know in We SaaS in of customers do to are and terms is capabilities as that the now, we most medium-sized offering strong And, management our bring comes large quarter many data lot a last market. of in Control we as go-to-market motions advanced very, last shared the medium the well We actually enterprise-wide we bigger when think experimentation is don't

to So focus ROI-driven, be The that's AI. business experimentation with encouraging. continues outcome-driven

Operator

question with Joel next Our Citi. Omino from comes

Joel Omino

dialing This Fatima. in Joel is

a as to maybe well. question margin, we're X-part the of for also raise but just So line a a bit substantial seeing a raise Jim. calendar 'XX pretty It's operating top

baking as you for how spoke what then any coming about give facilitating into you efficiency? relative part, think in in on expectations, the I productivity bit what's could prepared guide this rep second this on specifically, your you maybe this additional And color a is and but sales remarks, your second half? the are to the

Tianyi Jiang

great, for Joel. you Thank the question. Yes,

of the right? income, seeing improvement think I seeing We're on first, terms top you're in the maybe operating right. on So twofold, We're line.

most than reps the more and they there well. year. seeing So then that's of contribution. we're some channel, definitely side first using seeing how we last we're than is of onto board the that's demonstrated some and direct and up cost we global probably coming a and seeing the we as more the our rep house, We've But about as across G&A. And the efficiency having better we third sales or think then, about our And on seeing team. And in how better most we of efficiencies efficiency, alluded the the a the even And faster year, think had we costs, of mentioned when even tenured We're the new planned. the half board. of there. from across important beneficial reps been lot R&D producing sales think even ramp our did seeing you productivity of as are about some optimization and talking to, productivity maybe then, there improvement our we're are

of of as the is but for in margin board. the efficiency only confidence you year, expand, half year. across So and to saw the that the not seeing of that half first nicely operating the significantly second contributing the that gives mentioned, we're us to all And productivity we

Joel Omino

in And perhaps question sneak just let a here. me second

$XXX,XXX-plus also So I adds. the we're on think seeing pretty healthy customer both net year-over-year growth basis and in cohort, a the

they in the trends. And what you behavior of up. make just cohort, light adoption if some ARR was you I that all. shed demand if or you're percentage So that's could And then this seeing hoping additional there's discernible on any also, could share

James Caci

good and across very customer our midmarket, geos we base SMB, the things is the our the about to on Well Yes. that but of one It both diversification large across the is as of both some even accounts customer are good diversification all Obviously, seeing have enterprise. segments. referring not bigger we're across focused you're accounts. as growth just X well enterprise, base,

nice accounts. seeing those are large we in Now, growth

of we'd So helpful the And that's again, growth. literally very terms to like good. see it's and But across that. board in

So any think I when really, that's the about don't we've Joel, been about one this productive. customer our of concentration above we And total think, of very before, have X% we customers, talked revenue.

expansion again, confident for really So we feel in our there's room customers. that

think consolidation, that play platform in before about get ringing alluded about more how TJ hey, can they think true the to how we is vendors. existing customers of think about, I from how think terms vendors, they

I the into are expansions. X think remarks of in deals some that are right with sweet to in that spot. We're our us. his prepared plays through that existing seeing expanding that alluded the customers TJ X of

seeing that we're board. the So again, across

I is the $XXX,XXX but one that. customers expansion obviously the forward that metric, the continuing we're to across one above metric, looking and board think we're seeing just XXX

Operator

from Our Kirk with ISI. Evercore Materne comes next question

S. Kirk Materne

Chirag strong This on And congratulations Kirk. echo quarter. I'll yet for is another my on

last that? a in questions your you're seeing into suites, whether Essentially right few bit focused a line across more growth breakout what stronger So go driving spoke whether seeing now? Control, most or Modernization. Resilience, what's Suite of Control And are the your any to provided, performing Can you ago. customers on the and revenue with you categories these they're traction X are you on depth

Tianyi Jiang

in growth, mentioned in what Yes, Control we I QX, It's our of actually growth the a Suite. think fact. very have I strongest strong

the currently suites. X between specific split don't we the So actual disclose

estate more and is to strategies as modernize deployment on But driving an data data looking AI company governance do every ways that management annualized take at capabilities. around on absolutely can expect what's basis. their that and We is that so to they

tailwind there. the that's So definitely

S. Kirk Materne

are Gross a or steps And speak expansion about increase. XX% the gross taking to retention little you continuing to Jim, bit And one think retention even rates Can that? to we you. increasing how above you're to should maybe for here.

James Caci

thank Great question you. and

the I as will you rehash we're we right? table strong one sit are tell that the think, the focused terms the and really quarter, QX GRR, flat with really board, of results of We think we've we had quarter. we across thing around literally and I our around XX%. pleased the a been in actually on, overall,

So to working we actually there and haven't actually actually hard fruition. growth the we're real that come seen to have anticipating, we're

You're right, our longer-term target is XX%-plus.

So I quarter. would at say that's that me to pleased quarter is strong the one has happy is been and from We're the takeaway goal this rate XX%. But for that retention see that improve. stable really our

the of target. We initiatives. a on regional see and progress we globe that to working are XX% across basis movement On a toward that ensure number

why our we other a, around from think and a of out. the past, even retention, is about in pointing We've are going definitely is that some top talked appreciate losing retention I on. of are personnel you rate churn It about there's that on. we products for of related. then what's is biggest us. than initiatives It those challenge And lower which the number products. that Like side technology the of something when migration both So mind our really drivers our said, focused we're have I related, on a behind

to they have of available of they the and make And platform value in and that, that's base we we full coming sure so products have hard value platform. that the the them the see and ensure other product, in the to full that that other utilizing and opportunities the we're customer they advantage take make migration working

improvement And step to see that happen. hard working we're And to so real that's us for critical a again, really there. make

Operator

Sachs. comes question next Our Goldman with Borges Gabriela from

Maxime Gamperl

Max talk Opus's little get product? This A Can for for monetization you've on update helping about data for the timeline their ready. this the Gamperl and Gabriela. talked bit about uplift a any from TJ, on strategy us. customers role you is in couple product customers

Tianyi Jiang

remind late practices everyone, product has management information an our ] is was XXXX. the in to of so more launched Opus [ the a Opus with cloud for our story. management It best solution records evolution Yes. lifecycle management create informal together To It holistic far. well brings content. of information of done

So really functionalities around X AI. actually retention, management, with record classification archiving, it's infused different

tyGraph deployments We for as which product because lot a also are released of called exercises a management collaboration also well. Copilot, of massive identify Copilot helps density the change

strong we're with and products very So building. both pipeline progression happy

yes, we're monitoring closely. very So them

Maxime Gamperl

timeline And this on contribution? material and when should monetization a of any update we a product expect

Tianyi Jiang

So governance. Opus X-step a Control products of especially Suite of And around have well, readiness, right? discovery, about part Copilot Control talk Suites. whole that our process, actually is So We set secure, a optimize. perform very and

and again So the of and level, we just that We I split. our fastest today but the saying out monetization specifically segment. split on the about strongest was don't them growing do talk suite governance management aspect it is

Maxime Gamperl

last quite some execution? consistent very in been in driving earnings results of a and business. seems there's the volatility taking in then but the you've your been What's couple software it quarters, step And that that consistency back, predicting

James Caci

Yes.

I think you hit it right on head. the

control, that I in. And be profitable in reliable, all it back think that can and confidence really confident this what on guidance we we think we focus about to to to the said and that, you want be have we were predictable. 'XX, providing it goal, we was beginning controlling we Our growth, when could want of

on after And, executing our globe been the quarter to quarter. focus have and lifting credit boring, was might that doing and goes around the again, delivering. executing heavy And our well sometimes teams that but really the be

that the of working across that happen. people got some it the are really remarks, regions. by of saw You There's each hard prepared a right? We've consistent of growth lot in That to make accident. doesn't happen

really continue credit we able as to again, to expectations do tried is we've additional tried can, think were hit that been transparent the sharing. do what straight be see again, this we We and in metrics And so that, And and open, happen. that were And to be I provide and we as achievable. then objectives. X what of them. out to those we'd to to we've believed goes again, We've year to go quarters forthright. tried terms that provided like we've, again, aggressively And

Operator

next Our Instructions] [Operator question Cantor Knoblauch Fitzgerald. Brett comes with from

Thomas Shinske

Shinske on solid another for really Thomas is This quarter. Brett. on Congrats

front, been AI the lot enterprises I excitement AI? you are guys of On the urgency guess, deployment. lagged broader a to seeing deploy Because increased has by from

to where So scale. I'm seeing curious deployment see enterprise-wide you're an on just

Tianyi Jiang

and mentioned sizing we larger. we see the earlier, as do continued getting experimentation Yes, are experimentation

enterprises however, far in is very few that's deployment, is But AI very there. around deploying Enterprise-wide enthusiasm So gen encouraging. still between. across and the still much

encouraging. very that's So

Thomas Shinske

touch you they if tyGraph. Opus Awesome. just well? I MyHub, flow demand for curious just I'm highlighted through EnPower, Copilot. demand seeing quarter-over-quarter guys been are and I much as growth and reported, recently how I on double is tyGraph guess, may the AI Microsoft also, of that how there guess on to guess, of And just then I and

Tianyi Jiang

SaaS MyHub the you Yes. holistic hundreds and a in Teams actually And, we admins do daily enthusiasm so we all the talk of of starting why But that's readiness. to Copilot is strength there. as And, obviously sets see involved to the there, Copilot see that are mentioned, basis. growth, are thousands comprehensive about, the us ton adoption number. multiple have of to course, is Copilot products well readiness most a conversations, around there. on we hey, a yes, solution #X platform see growth very from a used of with pleased small continue we'll that, application Microsoft the we

So that and pipeline growth. continued well bodes business our really building also for

Operator

Jiang to This the for I any session. over back TJ turn conference like question-and-answer would closing remarks. our concludes to

Tianyi Jiang

customers ability Thank second data results, transformation, management solutions partners you. continued across proud AI-driven quarter of strong reflect and data comprehensive and estates. to data our which governance achieve scalable their with We're our and help our

implementing we in also strong addition Workplaces In It to we reflecting our in were Inc.'s of innovation Industry our confident I'm results, to included to past be well and Best honored partners our in continuous honor and as year the is a than our see that look the in Microsoft are with Year to needs you the named speaking of capturing was you a weeks, we customers. Having to list, position Partner joining investment this also Microsoft for with meet more us. Thank quarter. resonating for win the to and our Annual forward message being the people. today, continue Global of Partner us of Award our of as stronger Xth ever, as again teams, Education Singapore ahead excellence solutions opportunities massive the great we as well met our many in customers, several

Operator

The you concluded. presentation. conference today's attending has for now Thank

now may disconnect. You

AvePoint (AVPT) 8 Aug 242024 Q2 Earnings call transcript