AvePoint Revenue Jumps 22% to $124.5 Million Ahead of Small-Cap Index Entry
Key Facts
AvePoint will replace LXP Industrial Trust in the S&P SmallCap 600 before trading opens on Monday, November 2, 2026, S&P Dow Jones Indices said in a statement published by PR Newswire. The change places the Nasdaq-listed company, trading under the ticker AVPT, in the small-cap index, while LXP Industrial Trust, listed on the New York Stock Exchange under the ticker LXP, leaves it. The index entry comes as AvePoint’s latest results show accelerating revenue and growth in software-as-a-service business and annual recurring revenue. The company reported total revenue of $124.5 million in the second quarter of 2026, up 22% year over year. Chief Executive Officer and co-founder Tianyi Jiang said the results reflected “growing demand for trusted AI,” citing revenue growth and a record level of new annual recurring revenue.
Software-as-a-service revenue was $98.5 million in the second quarter, up 27% from the same period a year earlier, while annual recurring revenue reached $465.1 million on June 30, up 27% year over year. These indicators reflect expansion in recurring business, while the results showed improved operating profitability under GAAP. Operating income rose to $10.2 million from $7.1 million in the second quarter of 2025, and the operating margin climbed to 8.2% from 7.0%. By contrast, the gross profit margin fell to 73.1% from 74.0% in the year-earlier period. The gross dollar retention rate was 89%, while net retention was 111% on a reported basis and 110% after adjusting for the effect of foreign exchange.
AvePoint said cash and cash equivalents totaled $417.3 million on June 30, 2026. The company also generated $40.2 million in cash from operations during the six months ended on that date, compared with $20.8 million in the same period a year earlier. The company says it serves more than 28,000 organizations and 6,000 channel partners, offering solutions to protect, secure and govern data across Microsoft, Google, Salesforce and other environments. According to the company’s filing with the U.S. Securities and Exchange Commission, 211,565,426 shares of its common stock were outstanding on August 5, 2026. These figures provide context on the company’s size and financial position ahead of its index listing, but do not on their own determine the change’s effect on the stock’s trading.
In recent trading reported in EL7 data, AVPT closed at $16.85 on October 26, compared with $15.23 on October 20, while LXP closed at $61.11 on October 26. These prices are closing points on specific dates and do not isolate the effect of the index change announcement from other factors that may affect the stock’s movement. The change takes effect on November 2, three days before AvePoint announces its third-quarter results. The company is scheduled to report results after the U.S. market closes on Thursday, November 5, and hold an investor call at 4:30 p.m. Eastern Time. The index entry window therefore coincides with the company’s next quarterly disclosure.
AvePoint had forecast total revenue of between $128.2 million and $130.2 million for the third quarter of 2026, equivalent to year-over-year growth of 18% at the midpoint of the range. For 2026, the company set a revenue range of between $508.5 million and $512.5 million, with year-over-year growth of 22% at the midpoint. It also forecast total annual recurring revenue of between $522.1 million and $528.1 million, representing year-over-year growth of 26% at the midpoint of the range. November’s results will allow performance to be compared with these forecasts after the index change takes effect. The index-change statement did not explain the selection of AvePoint or the removal of LXP, while specifying that the change would take effect before trading opens on November 2.