AvePoint, Inc. Class A Common Stock Citi’s 2026 Global TMT Conference
Review the key takeaways and the transcript of this earnings call.
- AvePoint is celebrating its 25th anniversary, focusing on productivity workloads, unstructured data management, governance, and protection primarily within the Microsoft ecosystem and expanding into Google Workspace and multi-cloud environments like GCP, AWS, and Azure.
- AvePoint is the largest in the Microsoft ecosystem for Office 365 data management, protection, and governance and has evolved to support AI trust, data sovereignty, and compliance needs driven by AI adoption.
- The company does not rely on hyperscalers for go-to-market but helps customers maximize hyperscaler investments and supports multi-cloud strategies, with less than 10% of revenue currently from non-Microsoft ecosystems, expected to grow to 10-20% by 2029.
- AvePoint has implemented a bundling strategy for its control suite products about a year ago, which now accounts for 40% of the pipeline, up from 26% recurring revenue, improving customer buying experience and sales efficiency.
- Cross-suite upsell is early but promising, with a net revenue retention (NRR) of around 110-111%, targeted to increase to 115%, driven by platform synergies across resilience, control, and modernization suites.
- AvePoint is leveraging AI, including its virtual assistant AVA and agentic AI, to proactively identify upsell opportunities and improve customer experience.
- The company is ahead of pace to reach its $1 billion ARR target by 2029, driven by strong growth across North America, Europe, and APAC, with SMB as the fastest-growing segment due to MSP channel focus.
- AvePoint has a close and cooperative relationship with Microsoft, acting as a large customer and go-to-market partner for new Microsoft product launches, while maintaining a multi-cloud strategy.
- The US public sector has been a weak contributor in 2025 and 2026 but is expected to recover, providing additional growth catalysts.
- AvePoint emphasizes its ability to sustain profitable growth at scale due to a massive and evolving total addressable market (TAM) and new AI-driven use cases.
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Transcript
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One, day one of Citi's 2026 Global TMT Conference. I jointly head up our software research team, and I'm delighted to have share the stage with me the management team of AvePoint. To my left, both of you are to my left, CEO and founder, Tianyi Jiang, and to his left, Jim Caci, CFO. Thank you so much for being here.
Thank you for having us.
Thank you. Excellent. Well, I want to set the stage and set the tone, just at a 30,000-foot level, just to kind of get the audience level set.
What does AvePoint do, core value proposition, and key milestones that you've hit in the last 12 to 18 months?
All right. Yeah, AvePoint will be in business for 20-plus years. Actually, this is our 25th anniversary. Really focused around productivity workloads, specifically unstructured data management, governance, protection. We started in the Microsoft ecosystem in the enterprise content management space. We are the first to invest in Microsoft cloud infrastructure, today we are the largest in the Microsoft ecosystem when it comes to Office 365 data management, protection, and governance. From the productivity workloads, we also expand into adjacent areas. Obviously, Google Workspace is another one, increasingly on the compute side, IaaS and PaaS, so GCP, AWS, Azure.
What has happened in the last few years is that while we started in the regular industry, we help companies have better data hygiene, data protection, and governance, who can access what, for how long, from where, et cetera, to now, essentially enabling AI, very high quality, high confident AI trust deployment, in the sense that AI is only as good as the data you feed it.
Enterprise AI is different than consumer version of AI. You need to have refinement training with your industry knowledge, with your specific business knowledge, this is where proper data curation, data hygiene, and access control, also when AI does damage remediation matter more than ever. We happen to have the holistic SaaS platform that does all of that. Fast forward to this year, it is a year of AI agents. Last year was tokenmaxxing, this year is AI agents, where now agents are effectively behaving like your employees except at machine speed.
All of the problems that companies have in the past with unintentional access or data leakage of employees or even shadow IT of employees are now happening at machine speed with AI agents. That is also driving a ton of demand for agent discovery, agent cost management, risk management, remediation, recovery. That is what we have seen global growth in demand for.
I think everyone would agree that AI has increased the importance of data governance, data security, and control, right?
This is something that you've been working towards for two and a half decades, right? You're at the right place at the right time. Took a little bit long.
That's right. But right place, right time.
Where do you see the most durable economic value accruing to you as a company as AI adoption continues to scale by way of more agentic systems, more AI workflows, more productivity benefits from average white-collar workers using AI? How would that most tangibly impact your business, and where would it show up?
I think the durable growth factor is you are going to see more new product releases and new capabilities lean to this AI trust story. AI trust is not just about having your house in order when it comes to data. It is also data sovereignty, data regulations, compliance, and the macro level, and country-level sovereignty concerns. We see a lot more of that come into play. For example, even in Europe, many of our customers want their own infrastructure.
While they could be using, obviously, American tech, whether it is Azure Stack or Google Stack, they want to own the key to that infrastructure. There you have, for example, in Germany, they have a German sovereign Google instance for Google Cloud. Of course, you have this for Azure as well. We see more and more of those type of within border type of instance instantiations. Because we have been around for 22 plus decades, we have a physical footprint in all those countries, and our channel ecosystem and partner ecosystem, we are able to address those head-on and be able to act very much like a local provider. I think that is also part of that AI trust manifestation. That is a durable demand.
We think while it took us a while, like you mentioned, to get to where we are, we put all the hard work to establish the global footprint, the presence in enterprise as well as SMB, and be able to take advantage of this moment. We think the scalable growth and sustainable profitable growth, it is a story we will continue to lean into.
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