AvePoint raises 2026 outlook after 26% revenue jump in Q1

AvePoint Inc. reported first-quarter revenue of $117.2 million, a 26 percent increase from the prior year, as demand for its AI-driven data management software boosted results and led the company to raise its full-year outlook.

“Our leading position at the intersection of data protection and security, coupled with the demand for secure, automated, and AI-ready solutions, enabled us to outperform our guidance on the top and bottom line,” TJ Jiang, CEO and Co-Founder of AvePoint, said in a statement.

The Jersey City-based company saw SaaS revenue for the quarter ended March 31 climb 35 percent to $93.4 million, which now accounts for nearly 80 percent of total revenue. Total annual recurring revenue, a key metric for software firms, rose 26 percent to $435.2 million. The company reported GAAP net income of $15.25 million, or $0.07 per diluted share, compared to $3.57 million, or $0.02 per share, a year earlier.

AvePoint raised its full-year guidance for annual recurring revenue. It now expects total revenue for 2026 to be between $500.8 million and $506.8 million, with non-GAAP operating income projected between $77.0 million and $81.0 million, despite headwinds from foreign exchange rates.

For the second quarter, AvePoint projects total revenue to be in the range of $121.0 million to $123.0 million. The company's performance highlights a growing enterprise need for data governance and security solutions as companies worldwide integrate artificial intelligence into their operations. AvePoint's platform helps manage data across services like Microsoft 365, Google Workspace, and Salesforce.

The updated guidance suggests management is confident that demand for its AI data protection services will continue to grow. Investors will be watching for sustained margin expansion when the company reports its second-quarter results.

This article is for informational purposes only and does not constitute investment advice.