AvePoint, Inc. (NASDAQ:AVPT) Q2 2023 Earnings Call Transcript

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James Caci: Yes. I think it’s maybe a little bit of both, right? It’s — I think we’re still thinking that this year, although as TJ just said, we don’t see any deterioration in the pipeline, but we’re sitting here in August, and we’re looking out for the rest of the year. And I still think there is some uncertainty out there in terms of the macro environment. And although right now, what we can see looks good, I think it’s prudent for us to — we’ve raised guidance but to manage that accordingly. And I think we feel real comfortable with the guidance we put out there, and we don’t really see it as a deceleration. We think we’re just trying to plan accordingly and be — again, be prudent and be thoughtful in terms of the guidance we’re providing.

Brett Knoblauch: Understood. And can you just help frame how we should think about when you kind of announced new functionality, for example, what you did this kind of cloud backup for sales force. Is that something that you see like an immediate demand pickup for? Is that something that your sales force goes out and targets? I guess when you announced it like that, how should we think about that maybe adding to the pipeline?

Tianyi Jiang: Yes. So clearly, the multi-cloud support continue to be focused for us. So when we do announce the support for sales force, especially FedRAMP data centers being able to sell to more secure oriented government clients that will help strengthen our pipeline build. There is different — depends on the sector we support, there’s some learning curve for our sellers also to sell to a different audience, for example, in the record section, right? We’re not just selling to traditional IT, but we’re actually selling to record managers. So there’s a bit of that training and onboarding and on ramping for our sellers to be able to familiarize in the new features and deployment out there. But overall, you’re absolutely right. These new products goes a long way to strengthen the pipeline. But ultimately, the goal is to improve NRR for us to be able to do the cross-sell and upsell for our existing customer base.

Operator: And this concludes the question-and-answer session. I would like to turn the floor to TJ Jiang for any closing comments.

Tianyi Jiang: Thank you. First, I want to thank the entire AvePoint team for their dedication to advancing the digital workplace, capturing growing markets and prioritizing profitable growth. I’ve been meeting with our regional management teams in EMEA, APAC, North America in person these last few weeks during our quarterly business overviews, and I’m confident we are well positioned to continue capitalizing on the opportunity in front of us. Lastly, as I shared during our Investor Day, we’re excited to host our upcoming Shifthappens conference in Washington, D.C. in October. We’re especially thrilled to return to an in-person format, and I encourage you to attend. In addition to our continued innovation around AI, you’ll hear more from our team and other industry leaders about experiences, strategies and best practices that define the digital workplace transformation.

We’ll release more information about topics and speakers in the coming weeks. Thank you for joining us today.

Operator: Thank you. The conference has now concluded. Thank you for attending today’s presentation, and you may now disconnect your lines.

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