Avepoint, Inc. · NASDAQ:AVPT
Avepoint — Apex Technology Acquisition — SPAC Merger (June 2021)
12 slides from Avepoint's SPAC merger presentation, Jun 3, 2021
Slide 1: Investor Presentation June 2021 - Collaborate with Confidence
Investor Presentation June 2021 Collaborate with Confidence Accessible content is available upon request. Investor Presentation June 2021 Collaborate with Confidence Accessible content is available upon request.
Slide 2: Disclaimer
This presentation (“Presentation”) is for informational purposes only. This Presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale w
Slide 3: Clear Roadmap to Closing
Clear Roadmap to Closing st June 1 , 2021 Shareholder Record Date nd June 2 , 2021 S-4 Declared Effective th 1 June 28 , 2021 Redemption Rights Deadline th 1 June 30 , 2021 Special Meeting of Shareholders 2 Early July 2021 Closing of Transaction th 1) Based on Form S-4/A filed on May 28 , 2021 with
Slide 4: AvePoint is the Largest Data Management Solutions Provider for Microsoft 365
AvePoint is the Largest Data Management Solutions Provider for Microsoft 365 A Data Management Leader in Massive and Rapidly Growing Microsoft Q1 LTM 2021 Strong Cloud Marketplace Financial Performance • TAM growth to ~$33Bn by 2022 $158mm Large, Established Global Presence Revenue • Over 1,300 empl
Slide 5: Q1 2021 Performance Update
Q1 2021 Performance Update Three Months Ended March 31 (US$ in millions) Q1 2020 Q1 2021 ARR $97.0 $129.2 % ARR Growth 33% Total Revenue $32.7 $38.8 % Total Revenue Growth 19% SaaS Revenue $10.2 $18.3 % SaaS Revenue Growth 78% Non-GAAP Operating Income $0.0 $(2.6) % Non-GAAP Operating Margin 0% (7%)
Slide 6: Transaction Summary
Apex Founder and Private Placement Post-Transaction Transaction Summary 1 Shares (3.3%) PIPE Investors (7%) Ownership Overview • Fully distributed pro forma enterprise value of $1.7bn, or 9.0x CY21E revenue Apex Public Existing AvePoint Shareholders of $194mm and 6.8x CY22E revenue of $257mm Shareho
Slide 7: Attractive Valuation Multiple vs. Peers
Attractive Valuation Multiple vs. Peers % of 52- % Price Firm Value / Week Change Revenue Revenue / Revenue Growth High Since Announced CY '21E / CAGR Company Name CY '21E CY '22E CY '21E CY '22E '20-22E Growth Infrastructure Dynatrace 90.9% 41.4% 16.2x 13.0x 0.59x 0.52x 0.62x Alteryx 41.9 (33.5) 9.
Slide 8: Gracias Merci धन्यवाद
Gracias Merci धन्यवादGracias Merci धन्यवाद
Slide 9: Appendix
Appendix 9Appendix 9
Slide 10: Summary Financial Profile
Summary Financial Profile (US$ in millions) 2019A 2020A 2021E 2022E ‘19A – ’22E 1 Total Revenue $116 $152 $194 $257 30% 31% 28% 33% % Growth $83 $114 $158 $220 39% Recurring Revenue % Growth 38% 38% 40% 71% 75% 81% 85% % of Revenue $80 $111 $140 $191 34% Gross Profit % Margin 69% 73% 72% 74% 2 ($4)
Slide 11: Long-Term Targets
Long-Term Targets 2019A 2020A 2022E Long-Term Target Gross Margin 69% 73% 74% 75%+ S&M as % of Revenue 46% 37% 41% 30%+ R&D as % of Revenue 9% 8% 11% ~10% G&A as % of Revenue 17% 16% 15% ~10% 1 EBIT Margin (Non-GAAP) (4%) 12% 7% 25%+ Source: AvePoint Management. 1) See next slide for GAAP to non-GAA
Slide 12: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Annual Quarterly LTM Q1 (US$ in millions) 2019A 2020A 2021E 2022E Q1 2020 Q1 2021 2021 GAAP Operating Income (Loss) ($19.0) ($15.4) ($21.3) ($34.7) ($39.5) ($0.0) ($5.9) % Margin (16%) (10%) (14%) (18%) (15%) (0%) (15%) (+) Stock-Based Compensation $13.9 $33.8 $37.0 $
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