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SINGAPORE - AvePoint Inc. (NASDAQ: AVPT), a company specializing in data security, governance, and resilience, has applied to list its common stock on the Main Board of the Singapore Exchange (OTC:SPXCY) Securities Trading Limited (SGX-ST). This move would mark a dual listing, as the company's shares are already traded on the Nasdaq Global Select Market. The company's stock, currently trading at $18.32, has demonstrated remarkable strength with a 140.74% return over the past year, according to InvestingPro data.
The CEO and Co-Founder of AvePoint, Dr. Tianyi Jiang, highlighted the significance of the potential listing, noting that it aligns with the company’s strategy to expand its presence in the Asia-Pacific (APAC) region. AvePoint, which established its Singapore presence in 2009, views the city-state as its Asia headquarters and International R&D Hub. The company has cultivated strong ties with local governmental organizations and corporations over the years.
Dr. Jiang expressed confidence in AvePoint's appeal to APAC-focused investors, citing the company's consistent execution and robust financial performance, particularly in the APAC region. The confidence appears well-founded, as InvestingPro data shows the company maintaining a strong 74.61% gross profit margin and achieving 21.13% revenue growth in the last twelve months. AvePoint believes this move will attract investors seeking high-quality B2B SaaS opportunities within the region. With 12 additional exclusive insights available on InvestingPro, investors can gain deeper understanding of AvePoint's market position and growth trajectory.
However, AvePoint has made it clear that no final decision has been made regarding the timing, terms, or conditions of the SGX-ST listing. The company reserves the right to withdraw its application and may opt not to proceed with the listing.
AvePoint serves over 21,000 customers globally and operates a channel partner program encompassing more than 3,500 managed service providers, value-added resellers, and systems integrators. Its solutions are accessible in over 100 cloud marketplaces.
The press release also contains forward-looking statements regarding AvePoint's market opportunities and performance. These statements are subject to various risks and uncertainties that could impact the company's future results, including industry competition, regulatory changes, and the ability to realize additional opportunities.
Investors and readers are advised that the information is based on a press release statement and should consider the risks and uncertainties as described in AvePoint's regulatory filings. AvePoint has not provided any assurance regarding the fulfillment of its plans as outlined in the forward-looking statements.
The company's decision to explore a dual listing comes as part of its ongoing efforts to strengthen its presence in the APAC market and provide additional opportunities for investors in the region to participate in its growth. According to InvestingPro analysis, AvePoint maintains a healthy financial position with more cash than debt on its balance sheet and strong liquidity ratios. For comprehensive insights into AvePoint's valuation and growth prospects, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers, offering expert analysis of what really matters for this emerging tech leader.
In other recent news, AvePoint Inc. reported impressive third-quarter results, surpassing expectations. Total (EPA:TTEF) revenues for the period reached $88.8 million, a 22% increase year-over-year, driven largely by a 45% growth in SaaS revenue, which accounted for 69% of total revenues. The company's Annual Recurring Revenue (ARR) also saw a notable uptick, climbing to $308.9 million, a 23% increase from the prior year.
In light of these developments, AvePoint's leadership has raised its full-year revenue and ARR guidance, reflecting growth rates of 21% and 23%, respectively. The company also added a record 35 customers with ARR over $100,000 in just one quarter. Looking ahead, AvePoint is targeting GAAP profitability by 2025, with full-year revenue guidance set between $327.8 million to $329.8 million and full-year ARR guidance expected to be between $324.9 million to $326.9 million.
These recent developments underscore AvePoint's consistent growth across all regions - North America, EMEA, and APAC. The company's strategic focus on its Confidence Platform, catering to the critical needs of data security and governance, has been pivotal in its success, particularly given the rising importance of data management in the era of generative AI.
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