Slide 1: Investor Presentation
Investor Presentation February 2026
Slide 2: Disclaimer
DISCLAIMER This presentation (“Presentation”) is for informational purposes only and shall not be reproduced or distributed in whole or in part without the express written consent of AvePoint, Inc. No Reliance No representations or warranties, express or implied, are given in, or in respect of, this
Slide 3: Full Year 2025 At-a-Glance
Full Year 2025 At-a-Glance $417mm 38% 20% / 19% $419mm Annual Recurring SaaS Revenue Op. Cash Flow / Total Revenue Growth Free Cash Flow Revenue Margin 28,500+ 826 8% / 19% 46% Total Customers GAAP / Non-GAAP Rule of 40 Customers >$100K+ ARR Operating Margin Annual recurring revenue and customer met
Slide 4: Our Mission
Our Mission Our Mission SECURE To Enable Organizations to GOVERN Collaborate with OPERATIONALIZE Confidence by Ensuring a Robust Data Foundation Transforming Data to be AI-Ready ©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 4
Slide 5: We Do the Hard Things First
We Do the Hard Things First Building Direct Selling into Fought to Subscription Went Public Enterprise- Highly Regulated Enter New Model with only $60mm Grade Software Industries Regions Transition Primary Capital and No Debt Putting the pieces in place to support durable, profitable growth at scale
Slide 6: Today's Data Management Challenges are Pervasive…
Today’s Data Management Challenges are Pervasive… Legacy & Overexposed Data Fragmented Data DATA PROBLEMS DATA PROBLEMS Who Has Access?, Data Silos, Inconsistent Formats, Outdated Policies, Outdated Information Misconfigured Controls Data Loss & Digital Sprawl Interruption DATA PROBLEMS DATA PROBLEM
Slide 7: …and Increasingly Interconnected
…and Increasingly Interconnected Legacy & Fragmented Data Overexposed Data • Data silos lead to inconsistent • Fragmented data is harder to find, data protection understand, and secure • Restoring fragmented data is • Distributed systems make it harder to complicated and time-consuming provide compr
Slide 8: The AvePoint Confidence Platform
The AvePoint Confidence Platform Resilience Modernization Control Suite Suite Suite DATA SECURITY & EMPLOYEE PRODUCTIVITY DATA GOVERNANCE PROTECTION transform legacy data and a ready-made framework for comply with regulations, processes for modern SaaS automated governance and preserve critical reco
Slide 9: Multi-Ecosystem Opportunity
Multi-Ecosystem Opportunity Mission Critical for “Data-first” Enterprises Empower Data Management with Security Complex Data Ecosystem of Major Technology Providers AvePoint Seamless End-User Experience Infrastructure Agnostic Unified Data Protection and Enable Platform Rapid Recovery Collaboration
Slide 10: Our Competitive Differentiation
Our Competitive Differentiation 1 2 3 Deep Ecosystem Proprietary Platform Global Trust and Partnerships Architecture Scale AvePoint has built a growing and No company offers the same breadth of Operating across 15 global data diversified partner ecosystem that functionalities that we provide in a ce
Slide 11: Go-to-Market Motion
Go-to-Market Motion Go-to-Market Motion Customer Segmentation Awareness Demand Generation Enterprise 5,000+ employees Direct Sales Buyer: CTO/CISO/CIO Systems Integrators, Consultants Pipeline Creation Consultants, Resellers, Wins (Close) Mid-Market Managed 500-5,000 Employees Service Buyer: CTO/CIS
Slide 12: Resilience & Control Bundles
Resilience & Control Bundles Delivering the capabilities of the Confidence Platform using a “good-better- best” model to simplify adoption and provide a growth map over time RESILIENCE CONTROL Essentials Plus Complete Essentials Plus Complete The most strategic Protect cloud data Comprehensive, Comp
Slide 13: Strong Customer Growth Across Industries
Strong Customer Growth Across Industries TOTAL CUSTOMERS INDUSTRIES Professional & Admin Services CAGR: 19% Finance & Insurance 28,604 12% 12% Federal Gov 25,178 Manufacturing & Production 4% 21,214 4% 13% State & Local 17,085 3% Construction 8% Healthcare 9% Retail 6% Info Tech 5% 11% Life Sciences
Slide 14: Balanced Contribution Across Regions
Balanced Contribution Across Regions EMEA North America 36% of Total ARR 42% of Total ARR 26% ARR CAGR 22% ARR CAGR APAC 22% of Total ARR 29% ARR CAGR ARR contributions as of December 31, 2025. CAGR is for the 2022-2025 period. ©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint
Slide 15: The Future of Data Management
The Future of Data Management 1 2 3 AI at Scale Security by Culture Platform Power AvePoint ensures that data By aligning policy with day-to- AvePoint unifies data estates are AI-ready by day collaboration, AvePoint security, governance and design, embedding reduces friction while resilience with a
Slide 16: Enormous Addressable Market
Enormous Addressable Market 2026E $112.1 bn 2029E $167.0 bn (2026-29E CAGR 14.2%) $23.5bn + $14.1bn + $74.4bn $8.6bn $14.9bn $14.1bn $34.8bn $31.1bn $8.5bn Governance, Risk, and Data Replication and Data Integration and Identity & Access Security Cloud Native Compliance Protection Intelligence Manag
Slide 17: One Platform
COMPLETE DATA PROTECTION SECURITY + GOVERNANCE + RESILIENCE Connected Challenges PLATFORM CAPABILITIES One Platform Data Discovery & Classification Info, Records, & IT Asset Mgmt. Multi-Tenant, Multi-Saas Control Policy Enforcement & Drift Control Ransomware DSPM & Identity Data Privacy & Data Migra
Slide 18: Strategic Priorities
Strategic Priorities Accelerate Expand Continued Broaden Strategic Customer Platform Scaling of Global Acquisitions Adoption and Offerings Channel Presence and Retention Ecosystem Investments ©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 18
Slide 19: Key Takeaways
Key Takeaways 1 We are a true platform company, delivering profitable growth at increasing scale 2 Customers rely on AvePoint to address a number of strategic use cases 3 We sell to companies of all sizes, across all verticals, in all regions of the world 4 We operate in an addressable market that i
Slide 20: Financial Highlights
A AvePoint miarclalelts) Highlights
Slide 21: Q4 2025 – Key Performance Metrics
Q4 2025 – Key Performance Metrics Total ARR Total Revenue Non-GAAP Operating Income 27% Growth 29% Growth 19.9% Margin vs 26% Adjusted for FX 25% Constant Currency 16.2% Prior Year $416.8 $22.9 $416.8M $114.7 $327.0 $22.9M $89.2 $14.5 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 ©AvePoint, Inc. A
Slide 22: FY 2025 – Key Performance Metrics
FY 2025 – Key Performance Metrics Total ARR Total Revenue Non-GAAP Operating Income 27% Growth 27% Growth 18.9% Margin vs 26% Adjusted for FX 25% Constant Currency 14.4% Prior Year $416.8 $79.2 $419.5 $416.8M $114.7M $327.0 $330.5 $22.9M $47.7 2024 2025 2024 2025 2024 2025 ©AvePoint, Inc. All rights
Slide 23: Robust Growth at Scale
Robust Growth at Scale Total ARR Net New ARR CAGR: 25% CAGR: 24% $416.8 $89.8 $327.0 $62.5 $264.5 $214.7 $47.5 $49.8 2022 2023 2024 2025 2022 2023 2024 2025 Total Revenue Recurring Revenue CAGR: 22% $419.5 CAGR: 24% $365.7 $330.5 $286.4 $271.8 $227.0 $232.3 $191.1 2022 2023 2024 2025 2022 2023 2024
Slide 24: Strong Profitability & Free Cash Flow Generation
Strong Profitability & Free Cash Flow Generation GAAP Operating Income Non-GAAP Operating Income $33.0 $79.2 $7.2 $47.6 2022 2023 2024 2025 $22.2 -$15.4 -$2.9 -$41.1 2022 2023 2024 2025 Non-GAAP Gross Profit Free $1M ARRCash Flow Customers $313.6 $85.9 $81.6 $250.2 $198.5 $169.3 $32.6 -$4.6 2022 202
Slide 25: Continued Success with Large Enterprises
Continued Success with Large Enterprises $100K ARR Customers $250K ARR Customers CAGR: 22% CAGR: 30% 826 666 298 547 225 454 178 137 2022 2023 2024 2025 2022 2023 2024 2025 $500K ARR Customers $1M ARR Customers CAGR: 37% 102 CAGR: 37% 81 31 26 53 18 40 12 2022 2023 2024 2025 2022 2023 2024 2025 ©Ave
Slide 26: Topline Growth Drives Durable Revenue Stream
Topline Growth Drives Durable Revenue Stream REMAINING PERFORMANCE OBLIGATION ($mm) $508.1 $237.8 $307.4 $373.4 29% CAGR 2022 2023 2024 2025 Remaining performance obligation includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. ©AvePoint, Inc. All r
Slide 27: Diversified ARR Base
Diversified ARR Base Industries Geography 22% 42% • North America 42% | • EMEA 36% | • APAC 22% 36% 12% 12% 4% 4% 3% 13% Direct vs Channel 43% 57% • Channel 57% | • Direct 43% 8% 9% 6% New vs Existing 37% 5% 11% • Existing 63% | • New 37% 63% 7% 7% Professional & Admin Services Federal Gov Finance &
Slide 28: Our Ongoing Channel Transformation
Our Ongoing Channel Transformation Channel ARR as % of Total ARR Number of Channel Partners ARR from MSPs ($m) 57% 55% $62 51% CAGR: 20% 5,859 CAGR: 48% 47% 4,959 4,173 $40 3,403 $28 $19 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Channel partners include managed service providers, v
Slide 29: Balanced Topline Contributions by Region
Balanced Topline Contributions by Region ARR Contribution Revenue Contribution 20% 20% 21% 22% 25% 26% 29% 29% 35% 35% 35% 36% 31% 30% 30% 32% 45% 44% 45% 44% 42% 44% 41% 39% 2022 2023 2024 2025 2022 2023 2024 2025 North America EMEA APAC North America EMEA APAC ©AvePoint, Inc. All rights reserved.
Slide 30: Attractive Customer Retention Rates
Attractive Customer Retention Rates Gross Retention Rate Net Retention Rate 111% 110% 89% 109% 88% 87% 87% 107% 2022 2023 2024 2025 2022 2023 2024 2025 GRR Target: 90%+ NRR Target: 115% Retention rates are for all customers and are adjusted for FX. ©AvePoint, Inc. All rights reserved. Proprietary in
Slide 31: Driving Operating Leverage While Investing For Growth
Driving Operating Leverage While Investing For Growth Quarterly Non-GAAP Operating Expenses Annual Non-GAAP Operating Expenses 16.2% 14.4% 18.4% 22.0% 19.9% -1.2% 8.1% 14.4% 18.9% 11.9% 11.3% 12.0% 10.4% 11.9% 10.0% 12.2% 10.8% 19.7% 10.6% 13.6% 14.9% 13.9% 15.4% 13.1% 14.7% 12.4% 13.5% 42.6% 32.1%
Slide 32: Effective Management of Stock-Based Compensation
Effective Management of Stock-Based Compensation AVPT Historical SBC as Stock-Based Compensation as % of Revenue (TTM) 31.0% % of Revenue 30.6% 16.0% 27.6% 13.3% 11.8% 9.4% 24.5% 24.0% 23.0% 20.9% 20.8% 20.7% 2021 2022 2023 2024 2025 20.2% 19.2% 19.0% 18.1% 17.2% 17.0% 16.8% 13.9% 12.1% 11.9% 11.5%
Slide 33: Delivering GAAP Operating Profitability
Delivering GAAP Operating Profitability 33.2% GAAP Operating Income (Loss) as % of Revenue (TTM) 31.8% 30.8% 27.3% 14.4% 13.0% 7.9% 7.2% 7.3% 6.9% 3.9% 1.3% 0.1% -0.9% -2.1% -4.7% -5.3% -8.6% -8.9% -9.6% -12.8% -23.5% -29.3% -31.7% -33.7% Revenues and GAAP operating income (loss) presented on a trai
Slide 34: Balanced Execution Above the Rule of 40
Balanced Execution Above the Rule of 40 70% Revenue Growth FCF Margin 21% 56% 56% 54% 53% 51% 51% 47% 46% 46% 20% 44% 42% 42% 27% 37% 37% 36% 36% 30% 36% 35% 19% 12% 36% 24% 45% 33% 24% 29% 28% 44% 16% 26% 32% 24% 19% 5% 49% 25% 22% 1% 30% 8% 19% 36% 37% 18% 30% 27% 27% 23% 22% 24% 24% 22% 17% 18% 1
Slide 35: Demonstrating Meaningful FCF Generation
Demonstrating Meaningful FCF Generation Includes ~$7m in one-time $85.9 tax payments $81.6 $32.6 -$4.6 2022 2023 2024 2025 -2% 12% 26% 19% Free Cash Flow Margin Free cash flow is the sum of cash flow from operations and the purchase of property and equipment. ©AvePoint, Inc. All rights reserved. Pro
Slide 36: Capital Allocation Priorities
Capital Allocation Priorities Invest in Strategic Share Profitable Growth Investments Repurchases and Acquisitions Accelerate customer Invest in companies and Remain active and adoption, scale channel technologies complementary opportunistic in ecosystem, broaden market to our business, and the open
Slide 37: Track Record of Successful M&A
Track Record of Successful M&A Acquisition of I-Access Solutions Acquisition of Essential Acquisition of Torsion Acquired Singapore-based I-Access Acquired South Korea-based software Acquired UK-based software provider Solutions, an IT solutions provider for solutions provider Essential, to expand T
Slide 38: Q4 Performance Comparison to Guidance
Q4 Performance Comparison to Guidance Total Revenues Non-GAAP Operating Income ($ in mm) $3.7 $0.01 $1.4 -$0.05 $111.0 $114.7 $22.9 $21.5 Q4 guidance Currency impact Q4 performance Q4 actual Q4 guidance Currency impact Q4 performance Q4 actual (midpoint) (midpoint) ©AvePoint, Inc. All rights reserve
Slide 39: Q1 & Full-Year 2026 Financial Guidance
Q1 & Full-Year 2026 Financial Guidance Q1 2026 FY 2026 ($ in mm) Low High ($ in mm) Low High Total Revenue $115.0 $117.0 Annual Recurring Revenue $525.1 $531.1 y/y growth (reported) 26% 27% y/y growth (reported) 24% 26% y/y growth (adjusted for FX) 25% 26% y/y growth (constant currency) 19% 21% Tota
Slide 40: Long-Term Non-GAAP Targets
Long-Term Non-GAAP Targets $1B 2029 2022 2023 2024 2025 Target Gross Margin 72.9% 73.0% 75.7% 74.8% 80.0% ARR 2029 S&M as % of Revenue 43% 38% 34% 32% 30% R&D as % of Revenue 12% 12% 12% 11% 12.5% G&A as % of Revenue 20% 15% 15% 14% 10% Operating Margin (1.2%) 8.1% 14.4% 18.9% 27.5% Stock-Based Comp
Slide 41: The Rule of 40 and Other Valuation Metrics
The Rule of 40 and Other Valuation Metrics Rule of 40 Rule of 40 Rule of X ARR Growth + Non-GAAP Op. margin Revenue Growth + FCF margin (Revenue Growth x 2) + FCF margin 73% 69% 48% 19% 46% 46% 26% 38% 46% 19% 19% 40% 31% 26% 27% 14% 29% 12% 8% 19% 12% 54% 42% 43% 28% 27% 27% 34% 23% 24% 21% 22% 17%
Slide 42: A Compelling Equity Story
A Compelling Equity Story 1 2 3 Tremendous Diverse Strong Financial Growth Potential Customer Base Profile Multiple growth levers to Broad and underpenetrated Consistent track record of build share in a large and base of customers that spans execution, highlighted by growing TAM through the industri
Slide 43: Appendix
A AvePoint APPENDIX
Slide 44: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 2022 2023 2024 2025 ($ in mm) For the Twelve Months Ended December 31 GAAP gross profit $166.1 $194.4 $248.0 $310.7 GAAP gross margin 71.5% 71.5% 75.0% 74.1% Stock-based compensation expense & amortization of acquired intangible assets $3.3 $4.1 $2.3 $2.9 Non-GAAP gro
Slide 45: Key Balance Sheet Items and Free Cash Flow
Key Balance Sheet Items and Free Cash Flow 2022 2023 2024 2025 ($ in mm) As of December 31 Cash and cash equivalents 227.2 223.2 290.7 481.1 Accounts receivable 66.5 85.9 87.4 124.5 Prepaid expenses and other current assets 10.0 12.8 16.5 19.7 Property and equipment 5.5 5.1 5.3 6.0 Goodwill 18.9 19.
Slide 46: Historical Customer Metrics
Historical Customer Metrics CUSTOMER COUNT 2022 2023 2024 2025 Total Customers 17,085 21,214 25,178 28,604 RETENTION RATES 2022 2023 2024 2025 Gross Retention Rate 86% 86% 88% 88% Gross Retention Rate (FX Adjusted) 87% 87% 89% 88% Net Retention Rate 103% 108% 110% 111% Net Retention Rate (FX Adjuste
Slide 47: ARR Composition
ARR Composition 2022 2023 2024 2025 Direct 53% 49% 45% 43% Direct vs. Channel Channel 47% 51% 55% 57% Enterprise 51% 52% 53% 52% Customer Segment Mid-Market 30% 29% 28% 28% Small Business 19% 18% 19% 20% New Customers 58% 50% 32% 37% New vs. Existing Existing Customers 42% 50% 68% 63% North America
Slide 48: Thank You
A AvePoint Thank You