AvePoint, Inc.

Q2 total revenue was $124.5 million, up 22% year over year, with constant-currency growth of 21%. SaaS revenue was $98.5 million, up 27% year over year; term license and support revenue was flat; services revenue was $15.7 million. Gross profit was $91.7 million and gross margin was 73.7%, versus 74.8% a year ago. Non-GAAP operating income was $20.3 million with a 16.3% margin, and GAAP operating margin was 8.2%. ARR ended at $465.1 million, up 27% year over year, with net new ARR of $29.9 million, up 35%. For guidance, Q3 revenue is expected to be $128.2 million-$130.2 million and non-GAAP operating income $21 million-$22 million. Full-year ARR is guided to $522.1 million-$528.1 million, revenue to $508.5 million-$512.5 million, and non-GAAP operating income to $86.4 million-$88.4 million.

TJ framed AvePoint as a key beneficiary of the shift to agentic AI, arguing that enterprises now need a “trust layer” to govern agents, control costs, and reduce risk. He emphasized strong traction for AgentPulse, including customer wins, broader interest in Control Plus bundles, and the launch of a standalone SKU to meet demand. His tone was confident and expansive, with repeated references to a large multi-year opportunity and the company’s path to $1 billion in ARR.

Jim emphasized another quarter of profitable growth, with accelerating revenue and ARR, record net new ARR, and continued GAAP operating profitability. He cited $124.5 million in revenue, $91.7 million in gross profit, 73.7% gross margin, $20.3 million of non-GAAP operating income, and $417.3 million in cash and cash equivalents. He also noted first-half operating cash flow of $40.2 million and free cash flow of $37.7 million, plus over $100 million of trailing-12-month free cash flow and $121.5 million spent on share repurchases year to date.

Analysts focused on AgentPulse traction, pricing, and whether it can drive stronger NRR; management said demand is strong, but much of the impact is still in pipeline because AgentPulse was introduced only recently and the standalone SKU launched in July. Questions also covered competition with Microsoft’s Agent 365/E7 bundle, where TJ said AvePoint can work alongside Microsoft but goes deeper on workspace-level governance, cross-cloud management, and ROI visibility. Other topics included incremental OpEx, where Jim said spending is aimed more at longer-term growth and efficiency, plus demand in resilience, Google Cloud, and the risks and costs of shadow AI.