What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2023-03-31 compared with 2022-03-31 · 257 added, 538 removed, 105 unchanged (88% of the section changed)

Our Mission Statement

Our mission at AvePoint, Inc.

AvePoint ,”

our ”) is to help organizations collaborate with confidence across the cloud.

Our goal is to be the catalyst of business transformation by empowering organizations with relevant technologies that are efficient, secure, and well governed.

We help transform data and collaboration so users can be more productive with the latest cloud services (like Microsoft 365 (" M365 ")), and drive efficiency in delivery and management of those services for service providers.

We do this through our Confidence Platform, a software-as-a-service (“

SaaS ”) platform that assists organizations who use M365 and more than a half dozen cloud collaboration platforms.

The Confidence Platform (built on “

AvePoint Online Services ”

or " AOS ") supports the collaboration of 8 million users across 7 continents with a scalable, secure, and intelligent architecture.

This scalable architecture manages more than 125 PB of content, spread across 14 global data centers, with a 99.9% uptime.

Our privacy and security policies are backed by industry certifications including ISO, SOC2 Type II, and FedRAMP moderate authorization.

The intelligence engine driving the Confidence Platform ensures continuing value for customers by using AI to maximize relevant data, providing insights, automating operations, and enabling our Control, Fidelity, and Resilience software suites.

Products in our Control Suite enable IT to deliver collaboration services at scale, with automation and repeatable business templates.

Business users are empowered with control over licenses, workspaces, and data owned by their departments.

Our Fidelity Suite preserves data integrity as organizations undergo digital transformation projects to streamline the way they work from one collaboration system to the next.

The Resilience Suite helps organizations comply with data governance regulations, preserve business records for compliance, and ensure business continuity.

Building on this Confidence Platform, we will be pursuing additional industry and role-based applications in fiscal year 2022 and beyond, including an application that support secure collaboration for companies undergoing mergers and acquisition activities.

We will enable our Control, Fidelity, and Resilience Suites to target highly sensitive data-room projects, enabling companies to work with third parties throughout the transitions in their business.

The framework established by the Confidence Platform will empower project owners with additional self-service controls, insights, and automation, while preserving compliance records.

With our solutions, organizations have the tools to enable rapid and sustainable adoption of critical applications like Microsoft Teams, which have recently been experiencing record growth in organizations large and small.

Systems like M365 can now pass security audits and give teams the control they need to have confidence in their cloud investment.

Security teams no longer block progress and pursuit of “work from anywhere”

With our solutions, they can have confidence in their ability to monitor, manage and govern the rapid adoption of new cloud services.

Finally, organizations can use solutions to save time and money, and can decommission home-grown or point solutions that fail to provide key insights and flexible automation that drive business outcomes.

The flexibility, automation, and insights of our solutions enable IT to meet business needs and deliver value.

We value quick, informed decision-making to meet and exceed customer expectations.

We subscribe to a growth mindset, which contributes to our entrepreneurial and learning spirit.

Drive and energy are contagious here;

we are not just going through the motions.

We do things that are impactful and as a result, amplify our customers’ success.

We are invested in the success of our colleagues, partners, customers, and community.

We do this by promoting global collaboration and taking pride in helping, sharing, mentoring, and coaching each other.

An Overview of Our Business

We are a Microsoft Gold Certified Partner in Collaboration and Content, Application Development, Cloud Platform, Cloud Productivity, Messaging, and Data Centers.

We are a top Independent Software Vendor (“

ISV ”) partner, ranking in the top 5 in Microsoft, Inc.’s (“

Microsoft ”) IP-Co-Sell program out of 3,000 participating partners.

Our main product platform is delivered as AOS.

Our primary solution is a SaaS platform that helps organizations invested in cloud-hosted collaboration systems by providing robust data management across our Control Suite, Fidelity Suite, and Resilience Suite of software products.

While our revenue and product lines, following the overall cloud market, are heavily centered on our continuing partnership with Microsoft today (as further discussed under the heading “

Our Continuing Partnership with Microsoft ”

(Part I, Item 1 of this Annual Report)), the software solutions we provide are built on proven best practices for management, governance, and compliance housed within our Confidence Platform and our Suites of underlying software.

Our SaaS platform focuses on data protection, governance, and compliance management extensions for M365, Dynamics 365, Salesforce, and Google Workspace.

Our software solutions for M365 services work with many workloads in M365, including Microsoft Teams, SharePoint Online, Exchange Online, OneDrive for Business, Project Online, Planner, Yammer and Public Folders.

Altogether, we offer more than 30 product SKUs.

We have already made investments to capture multi-cloud opportunities across Salesforce clouds.

We believe that our cloud agnostic approach, combined with projected overall growth in cloud usage, will lead to significant expansion of our market opportunities.

As of December 31, 2021, our SaaS platform supported more than 8 million cloud users.

We believe it is our job to deliver value for not just service administrators and owners, but also for service champions, end users, and those charged with ensuring a return on significant investments in the cloud.

Our software solutions within the Confidence Platform are most commonly deployed to provide:

Through our Fidelity Suite, migration from legacy on-premises (customer-managed) solutions to cloud services provided by M365 and other cloud service providers;

Through our Resilience Suite, data protection of critical cloud-based business assets to recover from data loss events (such as ransomware);

Through our Control Suite, policy guidance, monitoring, and enforcement for protecting regulated users and content as the organization moves from self-hosted systems to public cloud services;

Throughout the Confidence Platform, information governance support for records managers, security teams, and IT managers overseeing the adoption of the cloud collaboration platforms.

Digital transformation is not merely a nice-to-have as businesses look to modernize their IT infrastructure;

it is a strategic and tactical imperative in the new normal of COVID-19 and remote, anytime/anywhere, work connectivity.

Additionally, the COVID-19 pandemic has dramatically accelerated the need for organizations to shift operations to the cloud.

We are uniquely positioned to provide, and indeed have been providing throughout 2021, both guidance and proprietary technology to migrate customers to the cloud, efficiently and securely.

Collaboration enables organizations to pursue and achieve their business needs.

Our work, the product of collaboration, is considered valuable to the organization, and therefore must be protected and well managed.

That job often falls to IT teams who are constantly asked to do more with less resources.

Businesses push to support employees with modern tools for collaboration such as hosted sites, cloud file sharing, persistent chat, and multiple lines of business apps.

The urgency of digital transformation has accelerated as a result of the continued impacts of a newly developed “work-from-anywhere”

mentality across our national and international business cultures, initially in response to the demands exacerbated by the COVID-19 pandemic in 2020 (and continuing throughout 2021) and now as work-from-anywhere has become more of the norm.

We have demonstrated the ability to support our customers in making this shift, particularly in supporting the growing needs of our customers to:

Facilitate complex migrations from legacy tools and collaboration platforms, particularly for our customer organizations that have empowered business users to purchase their own cloud file systems.

Standardize how the business works together in moving unique business processes and files to a new platform like M365.

Respond to new security laws like the General Data Protection Regulation (“

GDPR ”), which went into effect in the European Union in 2018, and the California Consumer Protection Act (the “

CCPA ”), and the Virginia Consumer Data Protection Act (the “

VCDPA ”), which went into effect on March 2, 2021, and simplify IT teams’ ability to maintain oversight on a diversifying line of products they support.

Increase compliance knowledge, protocols, processes, and procedures to help mitigate the risks of non-compliance (which can become increasingly expensive with new fines and damages to company reputation and goodwill).

Support IT teams in their quest to optimize internal controls with automation and third-party vendors to help support their efforts.

2021 Consummation of the Business Combination

On July 1, 2021, we consummated the Business Combination (as defined below) by and among the members of the Apex Group and Legacy AvePoint (each as defined below) and, on July 2, 2021, shares of our Common Stock were officially listed under the ticker “AVPT”

on the Nasdaq Global Select Market.

A brief summary of the steps leading to the consummation of the Business Combination follows, beginning with the formation of Apex in April of 2019, continuing through the Apex IPO in September of 2019, the entry into the Business Combination Agreement with Legacy AvePoint in November of 2020 and the subsequent consummation of the Business Combination and related transactions related thereto follows.

Apex Technology Acquisition Corporation IPO

On April 5, 2019, Apex Technology Acquisition Corporation (“

Apex ”) was formed as a blank check special purpose acquisition company (a “

SPAC ”) incorporated in Delaware. Apex was created for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. 

On September 19, 2019, Apex consummated its initial public offering (“

Apex IPO ”) of 35,000,000 units (“

Units ”

and, with respect to the Class A common stock included in the Units offered, the “

Public Shares ”), which included the partial exercise by Cantor (as defined below) of its option to purchase an additional 4,500,000 Units.

In addition to one Public Share, each Unit also consisted of one-half of one public warrant (a “

Public Warrant ”), which, upon detachment, would equate to 17,500,000 Public Warrants.

Each whole Public Warrant entitled the holder to purchase one share of Apex’s Class A common stock at a price of $11.50 per share, subject to adjustment.

The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $350,000,000.

Apex had granted Cantor Fitzgerald & Co.

Cantor ”), the representative of the several underwriters in the Apex IPO, a 45-day option to purchase up to 4,575,000 additional Units to cover over-allotments.

On September 19, 2019, Cantor partially exercised the option and purchased an additional 4,500,000 Units at $10.00 per Unit and forfeited the option to exercise the remaining 75,000 Units.

Simultaneously with the closing of the Apex IPO, Apex consummated the sale of 810,000 placement units (the “

Placement Units ”

and, with respect to the Class A common stock included in the Placement Units offered, the “

Placement Shares ”)) at a price of $10.00 per Placement Unit in a private placement to Apex Technology Sponsor LLC, a Delaware limited liability company (the “

Sponsor ”) and Cantor, generating gross proceeds of $8,100,000.

The Sponsor purchased 657,500 Placement Units and Cantor purchased 152,500 Placement Units.

Each Placement Unit consisted of one Placement Share and one-half of one placement warrant (each such warrant, a “

Private Warrant ”

and collectively with the Public Warrants, the “

Warrants ”).

Each whole Private Warrant is exercisable to purchase one Public Share at a price of $11.50 per share.

The proceeds from the Placement Units were added to the proceeds from the Apex IPO held in the trust account to be used for consideration payable in connection with the Business Combination and payment of fees, costs, and expenses associated therewith.

Apex and Legacy AvePoint Business Combination

AvePoint, Inc. (“

Legacy AvePoint ”) was incorporated as a New Jersey corporation on July 24, 2001, was redomiciled as a Delaware corporation in 2006, and changed its name to “AvePoint Operations, Inc.”

in June 2021. On November 23, 2020, Apex, along with Athena Technology Merger Sub, Inc., a Delaware corporation (“

Merger Sub 1 ”), and Athena Technology Merger Sub 2, LLC, a Delaware limited liability company (“

Merger Sub 2 ,”

and collectively with Merger Sub 1 and Apex referred to herein as the “

Apex Group ”), and Legacy AvePoint entered into a Business Combination Agreement dated as of November 23, 2020 (as amended on December 30, 2020, March 8, 2021, and May 18, 2021, the “

Business Combination Agreement ”).

Simultaneously with the execution of the Business Combination Agreement on November 23, 2020, Apex entered into separate subscription agreements (collectively, the “

Subscription Agreements ”) with a number of qualified institutional buyers and accredited investors (collectively, the “

PIPE Investors ”), pursuant to which the PIPE Investors agreed to purchase an aggregate of 14,000,000 Public Shares (the “

PIPE Shares ”), at a purchase price of $10.00 per share for an aggregate purchase price of $140,000,000, in one or more private placement transactions (the “

Private Placements ”).

See the section titled “

Market for Registrant ’

s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities - Unregistered Sales of Equity Securities ”

(Part I, Item 5 of this Annual Report) for further details on the Private Placements.

On July 1, 2021 (the “

Closing Date ”), the parties to the Business Combination Agreement consummated the transactions contemplated thereby (the " Business Combination ") and the PIPE Investors consummated their respective purchases of PIPE Shares as contemplated by the Subscription Agreements, with Apex being renamed “AvePoint, Inc.”

AvePoint ,”

our ”). Subsequent to the consummation of the Business Combination, on July 26, 2021, Legacy AvePoint’s successor by merger (“

AvePoint US LLC ”) merged with and into AvePoint, Inc.

with AvePoint, Inc.

Subsequent to the consummation of the Business Combination, the Public Shares were detached from the Public Units and the Placement Shares were detached from the Private Units, and the Public Shares (now renamed “Common Stock”

of AvePoint, Inc.

and listed on the Nasdaq as “AVPT”), the Placement Shares, the Public Warrants (now listed on the Nasdaq as “AVPTW”), the Private Warrants, the PIPE Shares, and other Common Stock held by certain selling securityholders were registered for sale or resale, as applicable, pursuant to a Registration Statement on Form S-1 which was declared effective on August 9, 2021.

See the section titled “

Market for Registrant ’

s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities ”

(Part I, Item 5 of this Annual Report) for further details on this portion of the Business Combination transactions.

2021 Highlights

Global Partner Program

In July of 2021, we launched a new global program designed to meet the unique needs of different types of partners, including our managed service partners (“

MSPs ”), value added resellers (“

VARs ”), cloud consultants, and DevOps partners.

The program equips our partners with the technology and resources required to create sizable revenue opportunities in the collaboration security market.

The program features a two-tiered system of authorized and invested partners, with the higher level providing additional support, resources, and discounts for top partners who build their businesses around our technology.

It also includes a partner advisory council to help shape future program developments and a community champions program to help spotlight important partner voices in our thought leadership materials.

AvePoint EduTech

In the fourth quarter of 2021, we were awarded a 37 million Singapore Dollar contract from Temasek Polytechnic to deploy an integrated SaaS training management platform for career professionals.

The platform will be made available via our subsidiary, AvePoint EduTech Pte.

to six institutions of higher learning in Singapore as part of the government’s drive to build relevant future skills through continuing education and training.

The platform is in development now, with a goal to be fully deployed by 2023.

Within EduTech's SaaS training management platform, learners, educators, and administrators alike will have a comprehensive digital learning experience that includes a streamlined admissions and enrollment process, personalized course scheduling features, and secure assessment delivery.

In addition, the platform will organize learner profiles to equip them with their graduation status, certifications, and recommend new course offerings as they embrace continuous professional learning in their careers.

The Forrester New Wave ™

SaaS Application Data Protection, Q4 2021 Report

We were recognized as a Leader with the highest current offering score in the Forrester New Wave™:

SaaS Application Data Protection, Q4 2021 report.  In Forrester’s evaluation of the emerging market for SaaS application data protection, we and our AvePoint Cloud Backup solution are identified as one of the most significant providers in the category.

We were evaluated against nine other vendors and were scored against 10 criteria for SaaS application data protection.

We were the only vendor to earn a “differentiated” rating in all three criteria of Google Workspace, Salesforce, and M365 — the highest possible score.

AvePoint also received a differentiated rating in the security and privacy;

storage options;

planned enhancements;

and innovation roadmap criteria.

FedRAMP Authority to Operate

Our software solutions are backed by industry certifications including ISO, SOC2 Type II, and, on March 31, 2021, our AOS for U.S.

government cloud platform received authority to operate (“

ATO ”) under the Federal Risk and Authorization Management Program (“

FedRAMP ”).

As a result, in addition to the business we do across the public sector globally, our Cloud Services are a FedRAMP (Moderate) Authorized SaaS solution for use across all U.S.

government agencies.

Our ATO was sponsored by the U.S.

Department of Energy.

FedRAMP is a government-wide program that promotes the adoption of secure cloud services by providing a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services.

As a FedRAMP (Moderate) Authorized SaaS solution provider, we provide Federal agencies the ability to use our cloud deployments and services models at low, moderate, and high risk impact levels.

FedRAMP ATO validates the security and operational processes for many aspects of our application and SaaS service delivery including software development and lifecycle processes, vulnerability assessments and remediation, access controls and role separation, auditing, logging and reporting. 

Channels Highlights

We have continued to expand the distribution and sale channels (“

Channels, ”

and each, a " Channel ") for our products through third parties.

Channels utilize MSPs to sell our products to end users through online marketplaces and our distribution partner network.

This Channels activity differs from our traditional business, in that contracts are monthly, and the typical end customer spends less than $100 a month on the product due to small license counts required.

Our ability to grow our Channel business is predicated upon our ability to attract and retain a number of MSPs.

We continually evaluate prospective and existing partners’

abilities to attract new customers to our platform.

In 2021, we added new partners and expanded existing partner relationships to enhance the utility of our platform, while creating new opportunities to expand our revenue share provided by our Channel business.

Our Strategies

Business Strategies

Our strategy is focused on the cloud:

we support cloud and hybrid cloud customers and partners as they transition to and mature their cloud deployments.

We have expanded beyond our original SharePoint infrastructure management business into a global infrastructure, data, and SaaS management software company.

We have made significant investments into cloud storage and cloud-based computing products to support our growing SaaS business since 2013 (the year we released our first SaaS product, DocAve Online) and since that time have added Governance Automation, Compliance Guardian, and Records platforms to extend availability of our solutions to other key stakeholders involved in securing organizational collaboration.

More recently, we have developed the Confidence Platform series of solutions in support of our SaaS strategy that assists organizations who use M365 and more than a half dozen other cloud and multi-cloud collaboration platforms.

We expect to continue to invest in sales and marketing teams to expand our market reach and accelerate customer acquisition.

Our Customer Success Team (“

CS Team

”) aims to reduce churn and delight customers.

Our product and development teams will continue to work to gain expertise on core platforms, like M365, SharePoint, and Salesforce, to ensure support for the latest features and releases in near-real-time.

In addition, we expect that our continued investment in research and development will broaden our expertise on key cloud platforms, to deliver depth and breadth for our customers.

Growth Strategies

In 2021, the size of the M365 market was approximately 300 million licensed users.

We believe that this number could grow to 500 million, if Microsoft continues its approximately 20% growth rate that it has reported in recent disclosures and earnings calls.

We believe this presents a massive addressable market to pursue, leading with our SaaS data management solutions for M365.

Specifically, we are relying on the following growth drivers to help increase market share

Continue Aggressive Product Development .

 We continue to seek to introduce adjacent products to extend our current cloud data management story, to expand within accounts, and thereby increase each customer’s lifetime value potential.

Focusing on the customer experience will ensure our technology drives value, not just to the business but to individual users.

We also intend to continue to invest in multi-cloud development beyond Microsoft services.

Increase Customer Retention and Lifetime Value with Customer Success .

We have expanded our customer success program to decrease churn, decrease time to value, increase customer satisfaction, and set up successful land and expand opportunities.

As of December 31, 2021 and December 31, 2020 our trailing twelve-month dollar-based net retention rate was approximately 110% and 107%, respectively, and we seek to increase this metric.

To drive results, we will continue to hire additional customer success staff, as well as invest in technology to automate customer engagement, follow-up, and identification of at-risk accounts that should be prioritized for action.

Furthermore, we will invest in technology to provide additional customer telemetry to enhance our understanding of how our customers use our solutions.

Acquire and Expand SMB and MM Market Share through Channel .

We believe that building strategic relationships and Channel cultivation will enable us to penetrate those markets in which we previously lacked presence and those in which we have a presence that can expanded.

We continue to invest heavily in our global distribution network with organizations that are deeply embedded and trusted among MSPs and their small- and medium-sized business (“

SMB ”) customers.

SMB is our fastest revenue and seat acquisition growth segment, scaled up in selling through our distribution network and partners.

Given our position as a SaaS data management provider with enterprise-quality data management capabilities, including security, delegated administration, and global support, we expect significant growth in our Channel business. 

The mid-market (“

MM ”) segment is covered by our inside sales organization, which today is the highest performing organization with short sales cycles, averaging one to three months, predictable deal volumes, high sales quota achievement, and scalable new hire ramp up times.

We plan to continue to expand our MM customer segment by expanding our inside sales organization, aided by our business development tele-sales teams, and scaled up by selling with Channel partners.

Sell Premium Value-Added Services Plus Products in the Large Enterprise Segment .

We plan to offer expert services in the enterprise segment, where we have a strong footprint today, to deepen our large enterprise relationships, grow customer opportunities, ensure successful roll-out, and identify further expansion opportunities within accounts.

This segment comprised approximately 66% and 67% of our overall sales as of December 31, 2021 and December 31, 2020, respectively.

Pursue Insights .

We will continue technology innovation by expanding our current product telemetry capabilities (vital in our current ability to auto-identify active versus inactive customer engagements), adopting new approaches to data gathering, automated decisioning, and delivery of business applications which can create personalized, contextualized, dynamic experiences for individual customers.

These data-driven experiences can inspire deep emotional connections to products and the brand, which in turn can drive loyalty and business growth.

Acquisition Strategies

We expect to make acquisitions and/or enter into joint ventures and strategic alliances as part of our long-term business strategy.

This may include acquiring other complementary products, technologies, and/or businesses that allow us to reduce the time or costs required to develop new technologies, incorporate enhanced functionality into and complement our existing product offerings, augment our engineering workforce, improve our internal business and operating systems, and enhance our technological capabilities.

In 2022, as an initial step in executing on this strategy, we consummated the acquisition of all of the outstanding equity in I-Access Solutions Pte.

Ltd., a Singapore-based software company established as a leading provider of SaaS solutions for corporate learning and development.

Note 18 - Subsequent Events ”

 (Part II, Item 8 of this Annual Report) within the consolidated financial statements of this Annual Report for more information regarding the acquisition.

Material Changes to a Previously Disclosed Business Strategy

Since the filing of our Amended and Restated Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on May 13, 2021 (the “

Apex 10-K ”), we have consummated the Business Combination (as described in this Annual Report) on July 1, 2021.

As a result, because we are no longer a blank check company and there have been material changes to our business, operations, legal structure, and financial condition because of the consummation of the Business Combination, there are corresponding material changes to our business, product, and growth strategies described in this Part I, Item 1 of this Annual Report as compared with those previously disclosed in Part I, Item 1 of the Apex 10-K and any pre-Business Combination disclosures made in quarterly reports, earnings conference calls, and other investor communications regarding business strategy.

SaaS Solutions

Our SaaS and data management features across our Control Suite, Fidelity Suite, and Resilience Suite include Data Protection as a Service, Information Security and Compliance, Migration, Records Management and Archiving, Governance, Reporting, Risk Assessment, and Data Analytics.

We also provide training, installation, configuration, AvePoint Client Services, and Technical Account Management (“

TAM ”)

in support of our SaaS and data management solutions.

We take a cloud-first approach to partner and customer acquisition, as our SaaS platform began to overtake on-premises in terms of platform popularity with the introduction of M365 and advanced collaborative services such as Microsoft Teams.

Our SaaS platform offers backup, insights, records management, governance, compliance, and productivity extensions for M365.

We continue to build integrated business applications into AOS to better support business users and industry-specific challenges in finance, education, and more.

In addition, we have expanded our Confidence Platform series of software solutions beyond the M365 environment into other public cloud spaces, including Salesforce and Google.

In 2021, for example, we announced the launch of our Salesforce Cloud Backup for MSPs across 36 countries and via 58 distributor app marketplaces.

Recent Product Innovation

MyHub for M365 :

Simplifying the M365 experience to drive adoption and productivity.

MyHub offers persona-driven experiences to help drive end user adoption and collaboration across all M365 services, helping organizations get the most from their investment in the service.

The latest MyHub release proved critical in helping align M365 services with the way users and groups work together, especially when they are spread out and work was previously isolated in one service.

AOS for M365, Dynamics 365, Salesforce, and Google Workspace .

AOS offers a single pane of glass for IT teams to configure and manage their AvePoint Cloud services.

Delegated administration enables security trimmed, role-based access to specific functions or cloud collaboration scopes. Sub-group administrators, records managers, or other key business stakeholders only get access to what they need to do their jobs.

Shared services offer insights that can be consumed across AvePoint services.

Policies & Insights (“PI”) for M365:

PI secures collaboration across internal and external users and highlights and proactively prevents oversharing of sensitive content for collaborative workspaces.

It enforces security and access controls to keep workspaces secure.

Released in the midst of the global COVID-19 pandemic, PI’s zero configuration model and rapid value framework helped address immediate concerns our customers were facing in COVID-19, as they transitioned to remote work but were still challenged to keep their corporate IP and collaboration secure.

Over-privileged users and over-exposed sensitive information is revealed in near real-time, helping IT teams focus their resources to deliver the most impact.

Then, our automation helps keep IT teams one step ahead of security issues, as it reverts unauthorized changes or access in real time.

Multi-Cloud Support for Data Protection .

Business continuity of an expanding set of business-critical assets establishes trust in the cloud as customers grow their footprint.

We help ensure organizations can easily meet their data retention requirements, in their sovereignty of choice, with ease.

Delegated access controls are designed to ensure administrators, power users, MSPs, or end users can only access the content they own during recovery.

Migration and Hybrid Integration Platform to Enable Digital Transformation .

Our technology builds in best practices, enabling a three-phased approach for migration, to analyze, migrate and monitor progress throughout a customer’s transformation.

We enable fast migration of cloud or on-premises mail, files, and collaboration data using Microsoft’s High Speed Migration APIs where available.

Alternatively, if an organization’s transformation is happening over an extended period, hybrid integration enables platform co-existence. When it is time to move, organizations can bring what they need and leave what they do not with automated filters and granular scope selection.

We help analyze an organization’s data to help our teams know the difference, and transform the organization’s data, permissions, and more.

On-Premises Products

Our long-standing on-premises product is the DocAve Software Platform, which gives enterprise systems administrators the tools to migrate, manage, and govern SharePoint deployments from individual items to entire data farms.

Our additional on-premises products, Governance Automation and Compliance Guardian, deliver SharePoint-as-a-Service, helping organizations build in governance and controls to common IT requests, and data classification, audit, and protection (“

DCAP ”).

Compliance Guardian is often deployed in hybrid and multi-cloud environments to support DCAP requirements.

Our on-premises platform features include Data Backup, Archiving, Disaster Recovery, Migration, Records Management, Auditing/Reporting, Governance, Risk Assessment, and Data Analytics.

We also provide training, installation, configuration, AvePoint Client Services, TAM, and AvePoint Partner Services in support of our on-premises products.

Our Continuing Partnership with Microsoft

We are a Microsoft Gold Certified Partner in Application Development, Collaboration and Content, Cloud Platform, Cloud Productivity, Messaging, and Data Center.

We are a top Independent Software Vendor (ISV) partner, ranking in the top 5 in Microsoft’s IP-Co-Sell program out of 3,000 participating partners.

The vast majority of our customers choose to integrate their products and services with, or as an enhancement of, third-party solutions such as infrastructure, platforms or applications, in particular from Microsoft.

The functionality and popularity of our products and services depend largely on our ability to integrate our platform with third-party solutions, in particular Microsoft’s Azure, SharePoint, and Office 365.

We typically receive significant advance notice of new product releases from Microsoft.

Our early access to technology adoption programs provides us with a significant advantage.

Several members of our staff have been designated as Microsoft Most Valued Professionals and Regional Directors by Microsoft.

We rely on professional memberships and experience to aid in developing customer solutions, including the consultation of former records managers and members of the International Association of Privacy Professionals on staff.

Our Technology

Our technology is designed to be scalable, resilient, and secure.

We built our software solutions on cloud computing:

a highly dynamic platform that makes sure businesses do not need to worry about how many users can fit on a single hardware application without causing major slowdowns during peak hours.

As we grow and add customers, or as customers grow and add users, our platform leverages the cloud to dynamically add more computing power.

Resources can be freely allocated to and from other compute resources by the software, enabling maximum utilization and helping to prevent service outages.

Our multi-cloud instance computing also reduces the downtime associated with releasing new versions of the software, allowing for real-time updates and continuous integration of new solutions to the cloud service platform.

Furthermore, multi-instance model/architecture provides us the ability to tailor/design our application requirements in various business models, helping to ensure security, streamline the development cycle, and ensure the efficient and high-quality utilization of resources.

We focus on building platform-based SaaS that allows us to quickly expand and add products to a common set of features.

Essential tools for monitoring and managing our software.

as well as the ability to scale migration, backup, and protection services while maintaining a single pane of glass, has been an essential tenet of our platform since our inception.

We offer different flavors of the Cloud Services platform, commercial cloud, sovereign cloud, and FedRAMP cloud.

This provides us with a unique opportunity to adhere to the ever-changing regulatory environment of many industries.

Technology Differentiators

Cloud First, Hybrid Enabled .

 We support customers wherever they are on their cloud journey.

Even if customers are committed to a fully on-premises or hybrid (partly on-premises, partly in cloud) deployment, they have the same robust migration, management, and protection solutions available to our cloud customers through our Confidence Platform and the related Suites of software products.

Depth of Expertise .

 Our team has deep experience in the Microsoft technology stack, allowing us to offer a range of solutions, and the most comprehensive support for the M365 cloud.

Our developers have been working with Microsoft technology since 2001 and were among the first to offer SaaS solutions for M365.

Our SaaS solutions have offered multi-cloud backup since 2014.

Breadth of Technology and Cloud Support .

 We meet customers where they are (whether spread across clouds, or still on-premises or private clouds).

New Technology Adoption .

 Our SaaS solutions, built on latest technologies, optimize deployments.

Our cloud leverages the latest cloud-services from Microsoft Azure to deploy, secure, and scale to meet customer demand, leveraging Virtual Machine Scale Sets, Azure Kubernetes Service, Machine Learning, and other technologies.

Built to Scale .

 The AvePoint Cloud is spread across 12 global data centers, supporting more than nine million cloud users.

Our multi-tenant architecture is designed to allow customers to get the latest technology enhancements as they are available.

Our service can scale to new regions without needing additional local resources.

 We are ISO 27001:2013 certified and our AOS for the U.S.

government cloud platform received an ATO under FedRAMP on March 31, 2021.

Our products support role-based access controls, delegated administration, and have undergone numerous rigorous security certifications intended to give our customers peace of mind.

As a FedRAMP (Moderate) Authorized SaaS solution provider, we provide federal agencies the ability to use our cloud deployments and services models at low, moderate, and high risk impact levels.

Insights Everywhere .

 Our prioritized insights help our customers know where to focus.

We make suggestions based on best practices, including Microsoft recommendations.

Our insights drive efficiency and take the guesswork out of prioritization.

Automation Everywhere .

 We allow customers to “set it and forget it”, or to keep human review in their process.

When we find what is wrong, for example external users that have been added to internal or confidential workspaces, we can fix it automatically by removing the permissions.

Even backups will run automatically with a few simple clicks.

Our Customers and Customer Success

Customer Base

We provide our products through a multifaceted approach that gives customers the flexibility to adopt products that fit the needs of their teams and organizations at any stage of operations maturity or size.

As of December 31, 2021, we had a global customer base with over 24,000 deployments of all sizes in more than 84 countries across a broad variety of industries, including those in the graphic below, and we host more than nine million cloud users.

Our customer base is well diversified to offset concentration of credit risk, with no single customer accounting for more than 10% of revenue or billings, respectively, for the year ended December 31, 2021, and no customer accounting for more than 10% of accounts receivable for the year ended December 31, 2021.

Market Segments

We classify our customers in three segments based on whether they have annual revenue of more or less than $2.5 billion and whether they have user seats of less than 1,000, between 1,000 and 5,000, or more than 5,000.

SMB Segment :

Our SMB segment is defined as companies with fewer than 1,000 user seats with less than $2.5 billion in annual revenue.

We define the MM segment as companies with greater than 1,000 user seats and up to 5,000 user seats, with an annual revenue of $2.5 billion or less.

Company Overview

AvePoint provides a cloud-native software platform that organizations rely on to optimize IT operations, manage critical data and secure the digital workplace.

As companies globally embrace the new normal of hybrid work, they must build and deliver a new, seamless workplace experience for knowledge workers, centered around an extensive portfolio of Software-as-a-Service ( “

SaaS ”

) solutions and productivity applications aimed at improving collaboration across the organization.

The adoption of this portfolio of solutions –

what has been generally described as the “digital transformation”

is a substantial and ongoing challenge for most organizations, which for decades had used only a small number of multi-purpose on-premises applications to drive business outcomes.

However, to build and deliver an efficient digital workplace today, companies must manage this range of applications –

and the associated explosive growth and sprawl of data –

with a platform offering that is well governed, fit for purpose, easy to use and built on automation.

AvePoint’s Confidence Platform empowers organizations –

of all sizes, in all regions, and across all industries –

to optimize and secure the solutions that most commonly establish and underpin the digital workplace.

As our customers seek to rapidly reduce costs, improve productivity and make more informed business decisions, they depend on our platform for data-driven insights, critical business intelligence and ongoing operational value through automation.

Platform Overview

The AvePoint Confidence Platform delivers a comprehensive set of SaaS solutions, empowering users in a variety of technology roles –

including IT operations, development operations and cybersecurity –

to monitor and secure the digital workplace.

Built on top of Platform-as-a-Service (“

PaaS ”) architecture, the AvePoint Confidence Platform offers modularity and combines cloud services architecture with tailored, industry-specific functionality to address critical operational challenges and the ongoing management of data, as organizations leverage a variety of third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox and others.

To drive modernization efforts, the platform also provides extensions to the functionality of existing cloud services as well as new applications, all while leveraging the common underlying SaaS services for data, process, user experience and integration.

The AvePoint Confidence Platform, and the applications that it powers, is organized into three interconnected “suites”

of functionality—each targeting a core set of business drivers and customer needs.

Those suites are:

The Control Suite  efficiently ensures the sustainability and operational capacity of the digital workplace by providing a ready-made framework for automated governance and policy enforcement.

This allows infrastructure and operations teams to protect business-critical information across collaborative workspaces.

The Resilience Suite  enables organizations to efficiently and effectively comply with data protection regulations, preserve critical records, and ensure business continuity.

This provides regulatory, audit, and risk management teams with the assurance that the organization is meeting its compliance obligations.

The Modernization Suite  transforms legacy data to allow it use by modern SaaS platforms and transforms legacy business processes into modern end-user business applications.

It empowers modernization and change management teams to drive digital transformation across the organization, and to measure and accelerate the impact of this transformation on employee experience and engagement.

Built with security and scale in mind, AvePoint’s cloud-native platform is available across 14 global data centers.

Our multi-tenant architecture is designed to immediately provide customers the latest enhancements and upgrades, and the platform is ISO 27001:2013 and ISO 27017:2015 certified and has received SOC 2 Type II accreditation and FedRAMP (Moderate) Authorization.

Within each suite are a number of products addressing critical customer needs.

Our products are typically licensed according to the number of users, while some include a consumption-based component.

Lastly, because our platform is built upon a common data engine and common data layer, the purchase of products from multiple suites provides an incremental benefit to customers in the form of more intelligent and relevant data insights and automation.

The Control Suite  contains products which offer the following capabilities:

Operationalize collaborative workspaces :

centralize the management of SaaS solutions and productivity applications, with the flexibility to configure and delegate control for different end-users;

Regulatory compliance automation :

Implement, enforce, and prove that access and configuration policies across collaborative workspaces comply with internal or regulatory requirements;

Access and risk management :

gain insight into who has access to critical data and where the company is at risk;

Cost optimization :

maximize the return on SaaS subscription investments through real-time management and allocation of entitlements;

The Resilience Suite  contains products which offer the following capabilities:

Backup-as-a-Service :

support workloads in cloud infrastructure-as-a-Service and PaaS, including protection against ransomware, accidental deletions and user error in a variety of SaaS applications, as well as support for a range of on-premises workloads;

Data classification :

automate data tagging, classification and protection to prevent loss;

Storage optimization :

archive stale content from active systems to reduce costs and improve workspace quality and user experience;

Records management :

ensure content compliance and proper records retention with process automation.

The Modernization Suite  contains products which offer the following capabilities:

Data modernization and restructuring:

 seamlessly move and transform legacy data to allow its use by modern SaaS platforms, and ensure that unstructured data can be easily restructured to reflect ongoing changes in the business;

Process modernization:

 transform manual processes with built-in data insights and process automation for Line of Business and role-based applications;

Workforce transformation measurement:

 enable employees to thrive in the digital workplace by ensuring organizational leaders understand employee engagement and sentiment.

Our Growth Strategy

Our aggressive pursuit of the large market opportunity we see includes the following growth strategies:

Expand our Platform Opportunity .

 We have built a differentiated platform that enables organizations to integrate modern applications, and our goal is to continually invest in technologies that improve the digital workplace experience.

We will introduce new and adjacent products to extend our current operational and data management story and to improve the functionality of existing products and features.

We also have invested and will continue to invest in opportunities beyond the Microsoft ecosystem.

our Customer Base .

 The market we are targeting is rapidly growing and largely unpenetrated.

We sell to organizations of all sizes, in all regions of the world, and across a broad array of industries.

While historically we primarily focused on larger, more highly regulated enterprises, the offering of our platform as a SaaS solution makes it more accessible to and in demand from small and medium-sized organizations.

We intend to drive new customer growth by leveraging our global partner ecosystem and through the expansion of our direct sales force.

Increase Customer Lifetime Value with Customer Success .

We constantly seek to increase customer satisfaction, decrease time to value, reduce customer churn and set up successful land and expand opportunities.

To do so, we have made significant investments in our customer success program and in technology which provides additional telemetry to enhance our understanding of how our customers use our solutions, which we believe will deepen our relationships with existing customers.

Grow and Cultivate our Partner and Channel Network .

We believe that building and cultivating strategic relationships with partners will enable us to penetrate those markets in which we previously lacked presence and those in which we have a presence that can be expanded.

Our partner and channel network today touches all aspects of our business, but we believe there is a particular opportunity with our small and mid-sized customers and prospects.

Opportunistically Pursue Strategic Acquisitions .

Acquisitions are an important growth driver for our business.

We completed four acquisitions in 2022, and we expect to continue acquiring businesses and technologies or entering into joint ventures and strategic alliances as part of our long-term business strategy.

This may include acquiring complementary products, technologies, and/or businesses that reduce the time or costs required to develop new technologies, incorporate enhanced functionality into and complement our existing product offerings, augment our engineering workforce, improve our internal business and operating systems, and enhance our technological capabilities.

Sales, Marketing and Customers

Our global go-to-market strategy allows us to efficiently sell to and serve the needs of organizations across market segments and geographies.

This strategy, which combines the expertise of our highly-trained direct sales force with the leverage of valuable indirect routes to the market, including our strong partner ecosystem, has created a powerful and differentiated go-to-market approach.

In addition, our increased investments in our customer success program positions us to continue expanding within our existing customer base, which we believe remains a significant growth opportunity.

Our direct sales force is organized by geography and customer size.

In addition, we employ a number of indirect routes to market, which include the following:

Channel Ecosystem .

We leverage the resources of our partner and channel community across customers of all segments.

We expect that partner sourced revenue will account for a growing portion of our revenue for the foreseeable future.

Partner Marketplaces .

AvePoint is transactable in more than 100 marketplaces around the world through our distribution and marketplace partners.

We leverage marketplaces to create operational efficiencies with automation in procurement and provisioning, and to grow and scale our acquisition of the small business market, primarily through managed service providers (“

MSPs ”).

Microsoft Partnership .

We are a Microsoft Gold Certified Partner, ranking in the global top 5 in Microsoft’s IP-Co-Sell program.

Microsoft sellers are incentivized to develop a pipeline, share sales leads, and accelerate sales of AvePoint solutions, and we plan to continue adding to the number of co-sell ready solutions currently available.

These collective efforts are supported by our customer success team, which employs a proactive relationship-focused approach designed to ensure that our valued customers get the care they need to rapidly deploy, and receive value from, their technology investment in us.

Our global marketing organization focuses on enhancing the AvePoint brand and building awareness and demand generation through multi-platform campaigns that leverage our expertise, content, technical resources and customer stories.

We rely on multiple marketing and sales automation tools to efficiently identify and market to the correct individuals at target companies using product and industry specific criteria.

We sell to organizations of all sizes, in all regions of the world, and across a broad array of industries.

Our customers are located in more than 100 countries and, as of December 31, 2022, numbered more than 17,000.

We classify our customer base by size and geography:

Small Business ( “

Companies with fewer than 500 user seats.

Mid- Market segment .

Companies with greater than 500 but fewer than 5,000 user seats.

Enterprise segment .

Our enterprise segment is defined as companies with greater than 5,000 user seats or greater than $2.5 billion in annual revenue.

Customer Success

We are committed to the success of our customers.

This means delivering performance improvements that enable our customers to drive their cloud migration, data protection, policy guidance and monitoring, information governance, and enhanced privacy endeavors.

The key to delivering recurring value is rapid implementation with a focus on continuous improvement throughout our relationship.

Our CS Team is a global customer service organization that assists our customers by expanding their ability to operate in real-time via cross functional workflows in sales, engineering, IT, security, customer support, executive leadership, and across their entire employee base.

The CS Team is directly responsible for client after-sales care.

Our CS Team employs a proactive relationship-focused client management approach designed to ensure that our valued customers get the care they need to rapidly deploy, and receive value from, their technology investment in us.

The CS Team is responsible for securing our client base’s contracts renewal and maintenance of annual recurring revenue through ensuring increased adoption and continuous utilization of our software.

Our CS Team is imbedded deep into customer organizations and are therefore able to identify cross-sell or expand opportunities.

This includes identifying at-risk clients, as well as proactively address support or other concerns before they become critical issues.

Our CS Team strategy is designed to align with the sales force segmentation described below, which includes tiered level coverage across our enterprise, MM, and SMB customer segments.

We divide our customer’s geographic areas into three primary regions:

(1) North America, (2) Europe, the Middle East, and Africa (“

EMEA ”), and (3) the Asia-Pacific region (“

Companies with greater than 5,000 user seats.

Classification is based on the customer’s billing address and is divided into (1) North America;

(2) Europe, the Middle East, and Africa (“

EMEA ”);

and (3) Asia-Pacific (“

APAC ”).

Revenue by geography is based upon the billing address of the customer.

No customer in any geography (when such geographies are measured in aggregate or individually) represented greater than 10% of our revenue for the year ended December 31, 2021.

Sales, Distribution, Partnerships, And Marketing

We utilize an exceedingly effective global go-to-market strategy that that allows us to efficiently sell to and serve the needs of organizations across our market segments and geographies.

By offering a wide range of products, solutions, services, and routes to the market, including through a direct sales force, through our Microsoft partnership, and indirectly via our other Channel sales partners (our “

Channel Partners ”), we can serve many types of organizations across the world.

The combination of our strong partner ecosystem (including with Microsoft) and our extensive enterprise and inside sales organizations, have created a differentiated and powerful go-to-market approach.

We believe this robust go-to-market structure can allow us to effectively and efficiently reach our entire addressable market, across all of our identified market segments and in all geographic regions throughout the world.

This also allows us to “land and expand”

within our customer base by beginning with a limited engagement at each customer and increasing that customer relationship over time.

Our sales force is organized by both customer size and vertical segmentation within designated geographies.

Our global sales teams focus on both new customer acquisition and up-selling and cross-selling additional products to our existing customers.

Our sales teams are organized by geography (North America, EMEA, and APAC) as well as by market segment (SMB, MM, or Enterprise).

SMB Sales Team :

The SMB Sales Team primarily engages this customer segmentation indirectly through distribution channels and partner networks.

This reinforces our strategy of low-touch, high volume, transactional business coverage of the SMB segment.

MM Sales Team :

The MM segment is covered by our inside sales team.

The MM sales team engages customers directly in majority of the cases, with some regional geographical teams, such as Germany, leveraging local partners to assist in reaching a wider audience with local-language support.

Enterprise Sales Team :

The enterprise sales team is primarily an outside sales organization which engages customers directly, with sales representatives spread regionally to cover their respective customer geographies.

The MM and enterprise sales teams are supported by our Business Development Representatives (“

BDR ”) team, an outbound tele-sales team for lead generation and opportunity qualification.

The BDR team is centrally consolidated into two call centers, one in each hemisphere, to ensure continuous coverage supporting our global sales teams and aims to respond to all inbound sales requests within two (2) business days.

Global Distribution Network

More than 100 global marketplaces carry our products, across distributors like Ingram Micro and Tech Data Corporation, to scale SMB market acquisition through MSPs.

Resale and Distribution Partnerships

We leverage the sales and referral resources of resale and referral partners through a variety of programs and rely on distribution partners especially for our SMB market acquisition.

We expect that sales to partners will account for a substantial portion of our revenue for the foreseeable future.

Our demonstrated ability to achieve revenue growth and expand our SMB acquisition has been achieved, in part, by our success in maintaining successful relationships with our partners.

Our global marketing organization consists of a centralized corporate team that focuses on brand building, awareness, thought leadership, capturing customer stories, communications, product marketing, marketing operations, digital marketing, and demand generation through campaigns that leverage our content, technical resources, expertise, and customer stories.

We rely on multiple marketing and sales automation tools to efficiently market to and automatically identify qualified individuals using product and industry specific criteria.

We have increased our investment in marketing through hiring, executing our go-to-market strategy globally, and building our brand awareness.

We plan to continue to invest heavily in our brand awareness via multi-platform campaigns. 

Research And Development

Product and Service Development

We seek to expand development of new offerings, drive improvements to our existing offerings, and enhance support of our existing customer deployments.

We leverage agile development methodologies and work with the latest technologies, resulting in a dynamic, state of the art, automated software development process that has allowed us to deliver high-quality products and services and adapt to market changes and new requirements quickly.

We have made significant investments in our SaaS platform, our Channel business, our global infrastructure and our sales and customer success organizations, which we believe will yield future operating leverage and profit margin expansion. 

We have research and development presence in the United States, China and Vietnam, which provide a strategic advantage allowing us to invest in increasing our product capabilities in an efficient manner.

Our research and development team, which consisted of over 900 employees as of December 31, 2021, is comprised of dedicated research employees, engineers, user experience experts, and project managers.

We constantly seek to develop new offerings, drive improvements to our existing offerings, and enhance support of our existing customer deployments.

We leverage agile development methodologies and work with the latest technologies, resulting in a dynamic, state of the art, automated software development process that has allowed us to quickly deliver high-quality products and services and adapt to market changes and new requirements.

We believe delivering and expanding product functionality is critical to enhancing the success of existing customers while new product development further reinforces our breadth of solutions.

We expect to continue to make substantial investments in research and development.

We expect our research and development expenses to increase in absolute dollars and as a percentage of total revenue over time.

We continue to look for opportunities to seek quality development teams with efficient cost structures.

In addition, we believe we can achieve operating leverage in marketing by continuing to emphasize lower-cost inbound techniques and growth in customer referrals from our technology and agency partners.

We believe we will be able to run our business more efficiently as we continue to grow our revenue and gain further operating scale.

Intellectual Property

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In addition, we generally enter into confidentiality agreements with our vendors and customers.

Although we rely on intellectual property rights, including trade secrets, copyrights, and trademarks, as well as contractual protections to establish and protect our proprietary rights, we believe it is our team’s ability to execute –

by developing new products, and our efficiency at new market acquisition –

that will maintain our market leadership position.

Financial Information Regarding Operational Segments

We operate in one segment.

Our products and services are sold throughout the world, through direct and indirect sales channels.

Our chief operating decision maker (the “

CODM ”) is our Chief Executive Officer.

The CODM makes operating performance assessment and resource allocation decisions on a global basis.

The CODM does not receive discrete financial information about asset allocation, expense allocation, or profitability by product or geography.

Since we operate in one operating segment, all required financial segment information can be found in the consolidated financial statements of this Annual Report.

Note 15 - Segment Information ”

(Part II, Item 8 of this Annual Report) within the consolidated financial statements for information by geographic area.

While there are some companies that offer certain features similar to those embedded in our products, as well as others with whom we compete in certain tactical use cases, we believe that we do not currently compete with a company that offers the same breadth of functionalities that we offer in a single integrated solution.

Unlike traditional vendors focused on data management, we approach the full spectrum of adoption for the Microsoft cloud, from migration through protection of vital information.

While some vendors are interested in data governance, we believe in supporting user adoption as well giving us the advantage of protecting the full lifecycle of users in the cloud s a result, we can confidently state that we are the only full-suite data management SaaS solution provider focused on the M365 platform.

Nevertheless, we do compete against a select group of software vendors that provide standalone solutions similar to those found in our comprehensive software suite in the specific markets in which we operate.

We face competition from other legacy backup or security vendors that may offer related solutions and services.

Our competitors include larger companies that have acquired solution and/or service providers in recent years.

We also compete with custom software internally developed and services internally provided within companies that are potential customers.

In addition, we face competition from niche companies that offer point products that attempt to address select problems that our products and services solve.

We expect competition to increase as other established and emerging companies enter our market, as customer requirements evolve, and as new products and services and technologies are introduced.

However, our competitor’s solutions fail to meet the needs of many customers due to limitations in, or outright lack of success in, the principal competitive factors within our market:

breadth of product functionality;

depth of expertise;

vision for the market and product strategy;

pace of innovation and agility;

rigor and robustness of security protocols;

integration with third-party applications and data sources;

customer support;

time to value;

total cost of ownership.

We believe we compete favorably with our competitors on the basis of these factors.

Ultimately, our ability to remain competitive will be driven by our ongoing performance, our superior technology, the quality of our software solutions, and our continued excellence in the factors identified in the preceding list.

Our quarterly revenue fluctuates and does not necessarily grow sequentially when measuring any one fiscal quarter’s revenue against another (e.g.

comparing the fourth fiscal quarter of fiscal year 2020 against the first fiscal quarter of fiscal year 2021). Historically, our third and fourth quarters have been our highest revenue quarters, however those results are not necessarily indicative of future quarterly revenue or full year results. Higher third and fourth quarter revenue is driven primarily by increased sales resulting from our customers’

fiscal year ends. The ongoing COVID-19 pandemic may have an impact on consumer behaviors and customer activities that may result in temporary changes to and increased fluctuations in the quarterly revenue of our business.

While certain companies offer products with features similar to those embedded in our individual solutions and with which we compete in certain tactical use cases, we do not believe that any company offers the same breadth of functionalities that we offer in a single integrated platform.

Unlike traditional vendors primarily focused on data management, data governance, or migration, we address a spectrum of SaaS solutions and productivity applications for the digital workplace.

The standalone point solutions we frequently encounter often fail to meet the needs of our customers, due to limitations in breadth of functionality, ease of use, scalability, rigor of security protocols, integration with third-party applications and data sources, time to value and total cost of ownership.

Our quarterly revenue fluctuates and does not necessarily grow sequentially when measuring any one fiscal quarter’s revenue against another (e.g.

comparing the fourth fiscal quarter of fiscal year 2021 against the first fiscal quarter of fiscal year 2022). Historically, our third and fourth quarters have been our highest revenue quarters, however those results are not necessarily indicative of future quarterly revenue or full year results. Higher third and fourth quarter revenue is driven primarily by increased sales resulting from our customers’

fiscal year ends.

Additionally, new product and service introductions (including the timing of those introductions) can significantly impact revenue.

Revenue can also be affected when consumers and customers anticipate a product introduction.

Revenue can also be affected when customers anticipate a product introduction.

Our operating expenses have generally increased sequentially due to increases in personnel in connection with the expansion of our business.

Human Capital Resources

We have a well-established relationship with our employees, and have received accolades from multiple publications around the world designating us as a “best place to work”

Our key human capital objectives in managing our business includes attracting, developing, and retaining top talent while integrating diversity, equity, and inclusion principles and practices into our core operating practices.

As of December 31, 2021, we had 1,934 employees globally, inclusive of all subsidiaries.

The success of our people is the success of our Company, making our talent strategy a core focus of our operations.

We received accolades from multiple publications around the world designating us as a “best place to work”

Our key human capital objectives in managing our business includes attracting and developing top talent, engaging our team in an environment where they thrive, and integrating diversity, equity, and inclusion principles into our core operating practices.

Our values are long-held beliefs that guide the behaviors of our global teams and are foundational to our present and future success.

These are not ‘statements on a wall’

but a true representation of how we act as a team:

We value quick, informed decision-making to meet and exceed customer expectations.

We subscribe to a growth mindset, which contributes to our entrepreneurial and learning spirit.

 Drive and energy are contagious here;

we are not just going through the motions.

We do things that are impactful and, as a result, amplify our customers’ success.

 We are invested in the success of our colleagues, partners, customers, and communities.

We do this by promoting global collaboration and taking pride in helping, sharing, mentoring, and coaching each other.

As of December 31, 2022, we had 2,187 employees globally.

A large percentage of our employees have technical and professional backgrounds and undergraduate and/or advanced degrees.

Our professional staff includes programmers, data scientists, computer scientists, electrical engineers, software specialists, hardware specialists, mechanical engineers, project managers, attorneys, and CPAs with approximately half of our workforce classified as developers.

Our professional staff includes programmers, data and computer scientists, electrical and mechanical engineers, software and hardware specialists, project managers, sales and marketing professionals, attorneys, and CPAs.

None of our employees are represented by a labor union with respect to their employment.

We are not aware of any employment circumstances that are likely to disrupt work at any of our facilities.

We are not aware of any employment circumstances that are likely to disrupt our work efforts.

See the section titled “

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(Part I, Item 1A of this Annual Report) for a discussion of the risks related to the loss of key personnel or our inability to attract and retain qualified personnel.

Attraction, Recruitment, and Hiring Efforts

Our human capital objectives include, identifying, recruiting, retaining, incentivizing and integrating our existing and new employees. 

We want to attract a pool of diverse and exceptional candidates and support their career growth once they become employees. We seek to hire based on talent rather than solely on educational pedigree, and have provided many job openings, including in our local communities, for capable workers from various backgrounds to learn valuable skills in critical operations such as business development, sales, customer support, and customer service.

We also emphasize in our evaluation and career development efforts internal mobility opportunities for employees to drive professional development, with approximately 35% of our U.S.

employees being promoted or changing roles in 2021.

Recruitment and Internal Mobility

We want to attract a pool of diverse and exceptional candidates and support their career growth once they join our team. We seek to hire based on talent rather than solely on educational pedigree, and have provided many job openings, including in our local communities, for capable workers from various backgrounds to learn valuable skills in critical operations such as business development, sales, customer support, and customer service.

In our evaluation and career development efforts, we also emphasize internal mobility opportunities for employees to drive professional development.

Our goal is a long-term, upward-bound career for every employee, which we believe also drives our retention efforts.

Our talent acquisition team uses internal and external resources to recruit highly skilled and talented workers, and we encourage (and incentivize) employee referrals for open positions.

Competitive Pay, Benefits, and Financial Incentive Awards

We strive to provide a competitive suite of pay, comprehensive benefits, and services globally.

Our total rewards package includes an annual base salary, sales incentives, discretionary annual bonus, long-term incentives in the form of equity, 

paid time off, healthcare benefits, and other benefits for eligible employees.

The principal purpose of our cash incentive plans are to attract, retain and reward high performing employees for the achievement of key results that contribute to the growth of our business.

We award equity in the form of Stock Options and Restricted Stock Units (" RSUs ") to foster a stronger sense of ownership, better align the interests of employees with our stockholders, and to increase stockholder value and our overall success by motivating such individuals to perform to the best of their abilities and achieve our objectives.

Diversity, Inclusion, and Belonging

We strive to promote diversity, equity, and inclusion through our values and behaviors.

We believe that our ability to retain our workforce is dependent on our ability to foster an environment that is sustainably safe, respectful, fair and inclusive of everyone and promotes diversity, equity, and inclusion inside and outside of our business.

We know that we are stronger as a diverse community—and while inclusion, diversity, equality and allyship (I.D.E.A.) have always been in AvePoint’s DNA, we formalized our commitment by creating the I.D.E.A.

Committee in 2019.

The committee consists of colleagues from around the world focusing on initiatives that enhance our workplace, celebrate diverse experiences and perspectives, and encourage innovation and inclusion.

Through I.D.E.A., employee resources groups have emerged such as Black AvePoint Excellence, Women in Technology, and Queers and Allies.

These groups, in partnership with our People Team, drive internal and external initiatives including recruitment practices and education opportunities through trainings and guest speakers.

COVID-19 Response and Hybrid Work

We have prioritized employee safety and transparency during the pandemic and continue to do so, ensuring all employees are set up to work remotely and providing clarity on office closures and evolving guidelines, where possible.

To protect the health and well-being of our employees, suppliers, and customers, we have made substantial modifications to the way we function as an organization.

We quickly pivoted to remote-work and to virtual customer engagements and marketing activities.

AvePoint continues to closely monitor the COVID-19 situation and will move to a hybrid work model once it is safe to do so.

This hybrid work model will include two (2) days of in-person collaboration per week, while allowing employees flexibility to work remotely for the remaining days if they choose to do so.

This flexibility will continue to be a valuable tool to engage and retain talent.

Training and Development of Employees

We invest in a growth mindset, meaning we are consistently growing and developing our people in order to unleash their maximum potential.

Since 2016, as part of our commitment to people development, we assess new colleagues using Clifton StrengthsFinder.

It gives managers insight into direct reports’

strengths and how to leverage collective teams.

By assessing people early in their journeys, we lay the foundation that uniqueness is celebrated and give employees the confidence to tap into their areas of natural talent.

Our Senior Leadership Team are the drivers of AvePoint’s growth mindset.

They developed our A.T.O.M program (AvePoint Talent Optimization and Management) as a place for future leaders of AvePoint to come together to innovate and help strengthen the core of our success and culture.

Employees are provided with training in leadership development, project management skills, and interpersonal skills development.

AvePoint employees are eligible for reimbursements towards continued learning such as tuition or certifications.

By offering our employees meaningful work and career development, we are well positioned to continue our growth through recruitment, development, and retention of the best talent in the industry.

Corporate Social Responsibility and Community Involvement

Connecting with our local communities and giving back in a meaningful way is a priority to AvePoint.

We do this at both a company-wide and individual employee level.

We proudly support our local communities around the world through three channels;

Technology, Community, and Education.

Over recent years we have committed to donating our software, through TechSoup, to not-for-profits to support their mission and help them focus more on what matters.

We donated our software and services to the City of Richmond to build the first ever 311 platform.

This cloud-based solution powered by AvePoint Citizen Services is geared towards citizen, business and visitor non-emergency requests.

With colleagues around the world, we are passionate about supporting their local communities.

One way that we do this is by donating to local organizations that contribute to the success and safety of their communities.

In 2020 when bush fires hit Australia we raised money for the local Red Cross chapter and matched all donations.

The same for the typhoons in the Philippines and Hurricane Harvey in Houston.

We support our community’s education through our long-standing relationship with Girls Who Code, whose objective is to close the gender gap in technology.

AvePoint sponsored ERGs are given the opportunity to identify education outreach opportunities of their own including a recent laptop drive for Boys & Girls Club and a fundraiser for NCFF to donate musical instruments to local youth groups.

We encourage our employees’

passion for community outreach by sponsoring volunteer days throughout the year where employees join their colleagues in volunteering their time to a local organization in need.

In addition, we sponsor a Corporate Donation Match program which matches our employees’

charitable donations.

COVID-19 Impacts

In March 2020, the World Health Organization declared the outbreak of COVID-19 to be a pandemic.

Throughout 2021, the COVID-19 pandemic continued to have widespread, rapidly evolving, and unpredictable impacts on global society, economies, financial markets, and business practices.

Federal and state governments have implemented measures in an effort to contain the virus, including social distancing, travel restrictions, border closures, limitations on public gatherings, work from home, supply chain logistical changes, and closure of non-essential businesses.

We believe that, despite the challenges presented by the COVID-19 pandemic, market volatility during the years 2020 and 2021 has caused organizations to accelerate their digital transformation priorities, as evidenced by increased cloud usage and demand for remote technology solutions among their and our customers.

This transformation requires advanced technology solutions and ample automation to support new organizational realities, all of which we are in a prime position to provide.

We remain focused on improving and investing in the products and services we offer to support our long-term growth while continuing to innovate and develop new products and services in response to customer needs, whether directly as a result of the COVID-19 pandemic or otherwise.

Although overall our business has not been adversely affected by the COVID-19 pandemic (and in fact our business enjoyed significant growth in 2021 driven by, among other things, our ability to provide multiple core services and products as solutions to pandemic-driven obstacles), the extent to which the COVID-19 pandemic impacts our business going forward is uncertain and will depend on numerous factors outside of our control including, without limitation:

the timing, extent, trajectory and duration of the pandemic, including the emergence of new variants of the disease;

the availability, distribution, adoption, and effectiveness of vaccines;

the imposition of protective public safety measures;

governmental, business, and individuals' actions in response to the pandemic;

possibility of recession or financial market instability;

and the impact of the pandemic on the global economy and demand for consumer products.

These factors may adversely impact consumer, business, and government spending on technology as well as customers' ability to pay for our products and services on an ongoing basis.

This uncertainty also affects management’s accounting estimates and assumptions, which could result in greater variability in a variety of areas that depend on these estimates and assumptions, including investments, receivables, and forward-looking guidance.

Refer to the section titled “

Risk Factors ”

(Part I, Item 1A of this Annual Report) for a discussion of these factors and other risks.

Geopolitical Tensions Involving Russia and the Ukraine

The current conflict in Ukraine has created general economic uncertainty.

We are monitoring the developments as they unfold in order to react accordingly.

While the impact of the conflict on our operational and financial performance will depend on future developments that cannot be predicted, we do not believe the impacts to be material at this time.

While we have only limited exposure to Russia and Ukraine via our customers and resellers, we are monitoring any broader economic impact from the current crisis.

Our talent acquisition team uses internal and external resources to recruit highly skilled and talented workers, and we encourage and incentivize employee referrals for open positions.

We strive to provide globally a competitive suite of pay, comprehensive benefits, and services.

We incentivize performance through a combination of competitive base pay, performance-based cash incentives and long-term incentives in the form of equity.

We believe this combination fosters a strong sense of ownership, aligns the interests of employees with our stockholders, and increases stockholder value and our overall success.

Environmental, Social and Governance Matters

We recognize the importance of environmental, social and governance (“

ESG ”) matters and how they impact our stakeholders.

We believe appropriately responding to ESG issues is an important component of corporate social responsibility and comprehensive fiscal management.

In light of the continued importance surrounding ESG matters, we are active in establishing and improving programs, practices and policies to maximize the benefit to AvePoint, our stockholders, our employees, and the communities we impact.

We believe that strong ESG programs and practices are critical to attracting the best talent, executing on our strategies, maintaining a robust supplier and channel partner base, and innovating to meet our consumers’

evolving expectations.

AvePoint’s policies, practices and programs include engagement with external stakeholders to understand their priorities and obtain their feedback, coordination of relevant company projects and initiatives, and alignment with AvePoint’s strategies and implementation.

In 2022, in furtherance of its commitment to ESG matters, AvePoint designated the Board’s Nominating and Corporate Governance Committee to oversee ESG matters, and the Nominating and Corporate Governance Committee approved the charter for an ESG committee within AvePoint with the involvement of internal stakeholders.

In 2023, we expect to continue to explore, and report on, our efforts to expand on ESG opportunities.

Our future ESG disclosures will be informed by an internal ESG prioritization assessment to be undertaken in 2023, which will assess topics based on their potential impact to both business value creation and environmental and societal impact more broadly.

To that end, AvePoint is committed to transparent reporting on ESG matters and, therefore, has provided additional disclosure below related to the goals and relevant metrics of our ESG program to allow our stakeholders to be informed about our progress.

Environmental

Workplace Practices

Across our twenty-five offices, we strive to reduce our environmental footprint, operate more efficiently, and engage our personnel in social initiatives that directly impact their lives.

To fulfill our aim of integrating environmental sustainability into everything we do, we have implemented numerous projects across our operations, including a company-wide paperless campaign and a computer recycling project, to reduce energy consumption and the use of non-renewable resources in our workplaces.

Our Jersey City headquarters and our Arlington and Chicago offices are LEED certified, and our Singapore office is a Green Mark Platinum building.

In addition, our Japan office takes many steps to maximize its energy efficiency, including:

Maintenance and inspection to maintain efficient operation and performance of facilities using BEMS data;

Operation with appropriate indoor temperature and humidity settings;

Introduction of LEDs in common areas;

Replacement of heat sources and air conditioners with high-efficiency equipment;

Implementation of energy conservation meetings among operators, management companies, and construction companies;

Donation of carbon credits to the Tokyo Metropolitan Government under the cap-and-trade system (4,000 t-CO2)

Cloud Computing for the Good of All

AvePoint was an early mover to transition from traditional on-premises software solutions to software-as-a-service and hybrid deployments.

Not only does cloud computing help meet the business needs of our customers, but it also has tremendous benefits to the environment, including greater energy efficiency, lower carbon emissions, and reduced carbon footprints.

In addition to many of AvePoint’s own workers saving resources by working remotely, our software supports customers in offering remote opportunities to their workforces, which helps them to reduce the environmental impacts of commuting and energy usage and waste production at physical worksites.

Looking forward, AvePoint is actively researching additional methods to reduce its carbon footprint and create a more sustainable future for the company and the communities we serve.

As a global company, we have a tremendous opportunity –

and responsibility –

We strive to exemplify our core values of agility, passion and teamwork every day to ensure the success of our customers, partners, and stakeholders as well as make a positive impact in the communities where we live and work.

To do this, we are committed to creating and empowering access to a variety of opportunities:

As a global organization, AvePoint strives to create pathways to success for individuals and communities through education.

At the heart of our work—volunteering, partnerships, donations, and advocacy—is the vision of a world where everyone, no matter where they live, which resources they have, or what challenging circumstances they face, has a path to self-reliance and resilience.

Our partners range from organizations that advance education for underrepresented minorities across our industry, to those that champion public policies aimed at fostering innovation and growth.

AvePoint is proud to support education as not only the great equalizer, but as the single most impactful catalyst to improving one’s trajectory.

In 2022, we continued our partnership with Girls Who Code, an organization that is committed to building the largest pipeline of future female engineers and has engaged over 500,000 girls, women, and nonbinary individuals through in-person programming. We also partnered with StepNow, an organization dedicated to equipping young people with the necessary tools to step into adulthood in the United Kingdom, to provide youth with a 1-week internship in our London offices to learn more about working in the technology field.

Inclusion, Diversity, Equity and Allyship

AvePoint is proud to employ talent from many different backgrounds, experiences, and identities.

Diversity and inclusion drive our success and is at the core of how we hire, communicate and collaborate to deliver value and excellence.

AvePoint is committed to fostering an environment where people can bring their whole selves to work and feel a sense of belonging.

Through our employee resource groups, internal mobility opportunities across the countries in which we operate, and external partnerships with underrepresented minority networks, we continue to work toward creating a workforce that represents the diversity of our customers and communities. Through our IDEA (Inclusion, Diversity, Equity and Allyship) Committee, in 2022 we launched our newest employee resource group dedicated to driving greater awareness and connection with military veterans.

Our employee resource groups also led the Company’s support of causes including The Trevor Project, the world’s largest suicide prevention and crisis intervention organization for LGBTQ+ youth, and The National Center for Children and Families, a nonprofit child and family welfare agency with a commitment to serving poor, disadvantaged, abused neglected and abandoned children, youth and their families. 

Supporting Agents of Change:

AvePoint is committed to investing in our people and nurturing a growth mindset across our organization.

Our talent development philosophy builds upon the idea that business growth and success come from a culture of collaboration and creativity, and that our people should feel empowered to craft their careers, make an impact, and own their futures.

Our portfolio of learning and development programs equips our leaders and managers with the skills and confidence to lead high-performing teams, and supports our individual contributors with the tools and resources to contribute impactfully in their roles from the moment they join AvePoint.

Corporate Governance

Social Responsibility Support from the Top

At AvePoint, our corporate governance practices support our core values of agility, passion, and teamwork.

These practices provide a framework for the proper operation of our company, consistent with our stockholders’

best interests and the requirements of law. 

AvePoint is committed to managing our affairs consistent with the highest principles of business ethics and the corporate governance requirements of both federal law and Nasdaq, including the following:

A majority of our board members are independent of AvePoint and its management;

All members of our three board committees—the Audit Committee, the Compensation Committee, and the Nominating and Governance Committee—are independent;

We have a clear code of business conduct to which all employees, officers and directors must adhere;

The charters of our board committees clearly establish their respective roles and responsibilities.

In 2022, in support of these priorities, AvePoint:

Adopted formal Independence Standards for its Board and the Board’s Audit Committee;

Completed a full review of its Corporate Governance policies;

Updated its Code of Conduct to include additional key policies and methods of reporting violations;

Introduced a more robust and user-friendly platform for whistleblowers and other reporting.

Earning the World ’

As a global company which is responsible to employees, stockholders and customers, our vision for AvePoint is to build an environment in which we earn trust and confidence every day through enabling collaboration and innovation through our commitment to privacy, security, and transparency.

Commitment to powering proactive data security programs

AvePoint understands the importance of security and operational risk management and is committed to providing organizations with relevant metrics which help them make decisions that are proactive rather than reactive.

When done in conjunction with policies, education and measurement, organizations can balance collaboration and transparency with data protection and privacy.

We seek to earn trust not just with robust security and privacy practices, but with the way we operate and organize our business.

Aligning to clear privacy principles

AvePoint has a policy of transparency regarding our data collection, use, retention and sharing practices.

It is our commitment to implement appropriate technical security measures to protect all AvePoint stakeholders and manage third party risk.

AvePoint uses this foundation and discipline to develop market-leading privacy and security products and deliver world class customer service.

Our software, processes and services have obtained industry-leading security and privacy certifications, including System and Organization Controls (SOC) 2 Type II, ISO 27001:2013 –

Information Security, ISO 27017:015-Cloud Security, Information Security Registered Assessors (IRAP) Program, FedRAMP, and more. We have also implemented a rigorous program to assess our own vendors and suppliers.

Advancing cybersecurity

Cybersecurity is a central challenge as companies around the world embark on the digital transformation. Ransomware attacks have become one of the top security threats for organizations, especially as increased collaboration can lead to more vulnerabilities.

The cost to recover stolen data can be millions of dollars, in addition to substantial reputational damage.

AvePoint Ransomware Detection, and its Ransomware Warranty for MSP, which primarily serves small business clients, gives assurance that companies will be protected.

Strengthening our offerings by first strengthening ourselves

AvePoint has built a resilient, scalable and secure IT environment by investing in complementary industry leading technology and security solutions, in addition to utilizing our own software platform.

In addition, AvePoint has built a corporate culture in which privacy and security are enablers of productivity, collaboration and trust;

we balance the free flow of information with the risk of inappropriate access and/or disclosure;

and we implement a risk-based approach to privacy and security that will allow us to maintain not only legal and regulatory compliance in the jurisdictions in which we operate, but also to facilitate business and innovation at AvePoint.

Compliance with Material Government Regulations

30 unchanged sentences

JOBS Act ”).

As an emerging growth company, we are exempt from certain requirements related to executive compensation, including the requirements to hold a nonbinding advisory vote on executive compensation and to provide information relating to the ratio of total compensation of our Executive Chairman and Chief Executive Officer to the median of the annual total compensation of all of our employees, each as required by the Investor Protection and Securities Reform Act of 2010, which is part of the Dodd-Frank Act.

As an emerging growth company, we are exempt from certain requirements related to executive compensation, including the requirements to hold a nonbinding advisory vote on executive compensation and to provide information relating to the ratio of total compensation of our Chief Executive Officer to the median of the annual total compensation of all of our employees, each as required by the Investor Protection and Securities Reform Act of 2010, which is part of the Dodd-Frank Act.

Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards.

5 unchanged sentences

The next determination date as to whether we have satisfied the criteria set forth in the foregoing (b), (c), and (d) is the last day of our second fiscal quarter in 2023.

Executive Officers

Information About Our Executive Officers

Executive Chairman and Director

1 unchanged sentence

Brian Michael Brown

General Counsel, Chief Legal and Compliance Officer, Secretary, and Director

Chief Legal and Compliance Officer, Secretary, and Director

Chief Financial Officer

11 unchanged sentences

Jiang holds doctorate and master’s degrees in Data Mining from New York University in addition to a bachelor’s degree and master’s degree in Electrical and Computer Engineering from Cornell University.

Brian Michael Brown  was appointed as our General Counsel, Chief Legal and Compliance Officer, Secretary of the Board, and a director in July of 2021.

Brian Michael Brown  was appointed as our Chief Legal and Compliance Officer, Secretary of the Board of Directors (the " Board "), and a director in July of 2021.

From 2004 until July of 2021, Mr.

13 unchanged sentences

Our principal operating offices are located at Riverfront Plaza, West Tower, 901 E Byrd St, Suite 900, Richmond, VA 23219 and our telephone number for that office is (804) 372-8080.

All  correspondence should be directed to our principal operating offices in Richmond, Virginia.

On April 5, 2019, Apex was formed as a blank check SPAC, incorporated in Delaware. Upon consummation of the Business Combination on July 1, 2021, Legacy AvePoint (at the time, renamed AvePoint US LLC) became a wholly owned subsidiary of Apex, and Apex was subsequently renamed “AvePoint, Inc.” On July 26, 2021, AvePoint US LLC merged with and into AvePoint, Inc.

with AvePoint, Inc.

surviving. 

All correspondence should be directed to our principal operating offices in Richmond, Virginia.

“AvePoint,”

"AvePoint, Inc.©," and all other names, logos, and icons identifying AvePoint and/or AvePoint's products and services and our other registered and common law trade names, trademarks, and service marks are property of AvePoint, Inc.

the “A”

logo, the “Pyramid”

logo, “DocAve,”

“MaivenPoint,” and all other names, logos, and icons identifying AvePoint and/or AvePoint's products and services and our other registered and common law trade names, trademarks, and service marks are property of AvePoint, Inc.

This Annual Report contains additional trade names, trademarks, and service marks of others, which are the property of their respective owners.

Solely for convenience, trademarks and trade names referred to in this Annual Report may appear without the ® or ™ symbols.

Solely for convenience, trademarks and trade names referred to in this Annual Report may appear without the ® or ™ symbols but those references are not intended to indicate that AvePoint will not assert, to the fullest extent under the applicable law, our rights to these trademarks, service marks, and trade names.

Available Information

1 unchanged sentence

At our Investor Relations website, https://ir.avepoint.com/, we make available free of charge a variety of information for investors.

Our goal is to maintain the Investor Relations website as a portal through which investors can easily find or navigate to pertinent information about us, including:

Our goal is to maintain the Investor Relations website as a portal through which investors can easily find or navigate to pertinent information about us, including, but not limited to:

Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports, as soon as reasonably practicable after we electronically file that material with or furnish it to the SEC at www.sec.gov.

Announcements of investor conferences, speeches, presentations, and events at which our executives talk about our product, service, and competitive strategies.

Announcements of investor conferences, speeches, presentations, and events at which our executives talk about our products, services, and competitive strategies.

Press releases on quarterly earnings, product and service announcements, legal developments, and national and international news.

4 unchanged sentences

We encourage investors, the media, and others interested in AvePoint to review the information we post on the social media channels listed on our Investor Relations website.

The SEC maintains an internet site that contains reports, proxy and information statements and other information that we file electronically with the SEC.

The address of the SEC's website is www.sec.gov.

The information found on our main website or our Investor Relations website is not part of this or any other report we file with, or furnish to, the SEC, for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act except as shall be expressly set forth by specific reference in such filing, and you should not consider any information contained on, or that can be accessed through, our website as part of this Annual Report or in deciding whether to purchase our common stock.

2021 Consummation of the Apex Business Combination

Apex and Legacy AvePoint Business Combination

AvePoint, Inc. (“

Legacy AvePoint ”) was incorporated as a New Jersey corporation on July 24, 2001, was redomiciled as a Delaware corporation in 2006, and changed its name to “AvePoint Operations, Inc.”

in June 2021.

On July 1, 2021 (the “

Closing Date ”), Legacy AvePoint and certain members of Apex Technology Acquisition Corporation (“

Apex ”) the parties to the Business Combination Agreement consummated the transactions contemplated thereby (the “

Apex Business Combination ”) and a number of qualified institutional buyers and accredited investors consummated their respective purchases of shares as contemplated by the Subscription Agreements, with Apex being renamed “AvePoint, Inc.”

On July 2, 2021, shares of common stock were officially listed under the ticker “AVPT”

on the Nasdaq Global Select Market. Subsequent to the consummation of the Apex Business Combination, on July 26, 2021, Legacy AvePoint’s successor by merger AvePoint US LLC merged with and into AvePoint, Inc.

with AvePoint, Inc.

(hereinafter referred to as “

AvePoint ,”

the " Company , " “

our ”) surviving.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business