APXTW · Apex Technology Acquisition Corporation

AvePoint's Q1 2026 results demonstrated robust growth with total revenue reaching $117.2 million, a 26% increase year-over-year, driven primarily by SaaS revenue surging 35% to $93.4 million, reflecting strong demand for its AI data protection solutions. GAAP gross margin dipped slightly to 72.8% from 74.3%, but non-GAAP margin held at 73.4%, indicating controlled cost pressures. Operating performance improved markedly, with GAAP operating income expanding to $12.7 million (10.9% margin) from $3.3 million (3.5%), and non-GAAP operating income rising to $20.5 million (17.5% margin), aided by over 700 basis points of GAAP margin expansion as noted by CEO Dr. Tianyi Jiang. This marks the twelfth straight quarter of double-digit organic net new ARR growth, with total ARR at $435.2 million (+26% YoY) and dollar-based net retention at 111%, signaling customer expansion and retention strength. Cash generation strengthened significantly, with $24.3 million from operations versus $0.5 million prior year, bolstering a $444.1 million cash position. The company raised full-year ARR guidance to $523.4-$529.4 million and revenue to $509.4-$515.4 million despite FX headwinds, while renewing a $150 million share repurchase program, underscoring confidence in sustained growth at the intersection of data protection, security, and AI readiness. Product launches like AgentPulse Command Center and Confidence Platform upgrades position AvePoint to address shadow AI risks and multicloud recovery needs for its 28,000+ customers.