2023 Q1 Form 10-K Financial Statement

#000143774923008808 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $59.57M $63.61M $232.3M
YoY Change 18.45% 18.15% 21.07%
Cost Of Revenue $17.89M $18.24M $65.12M
YoY Change 22.28% 22.04% 23.66%
Gross Profit $41.68M $45.37M $167.2M
YoY Change 16.88% 16.65% 20.09%
Gross Profit Margin 69.97% 71.33% 71.97%
Selling, General & Admin $41.50M $45.02M $174.7M
YoY Change -2.58% 7.04% 9.36%
% of Gross Profit 99.56% 99.23% 104.46%
Research & Development $9.015M $7.272M $30.52M
YoY Change 40.82% 75.99% -3.92%
% of Gross Profit 21.63% 16.03% 18.25%
Depreciation & Amortization $1.134M $1.239M $3.494M
YoY Change -31.77% 230.4% 191.17%
% of Gross Profit 2.72% 2.73% 2.09%
Operating Expenses $50.51M $53.42M $208.3M
YoY Change 2.03% 14.71% 8.07%
Operating Profit -$8.832M -$8.048M -$41.07M
YoY Change -36.22% 4.9% -23.23%
Interest Expense $325.0K -$90.00K -$40.00K
YoY Change 2221.43% -106.33% -139.22%
% of Operating Profit
Other Income/Expense, Net $1.412M $1.430M $7.456M
YoY Change -897.74% -75.56% -1279.75%
Pretax Income -$7.204M -$6.708M -$33.65M
YoY Change -32.95% 1581.2% 2.63%
Income Tax $1.978M $4.939M $5.038M
% Of Pretax Income
Net Earnings -$9.197M -$12.72M -$41.63M
YoY Change -21.19% 58.0% 18.2%
Net Earnings / Revenue -15.44% -20.0% -17.92%
Basic Earnings Per Share -$0.05 -$0.23
Diluted Earnings Per Share -$0.05 -$0.07 -$0.23
COMMON SHARES
Basic Shares Outstanding 191.4M 186.7M 182.0M
Diluted Shares Outstanding 182.8M 182.0M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $231.7M $229.8M $229.8M
YoY Change -10.9% -15.08% -15.08%
Cash & Equivalents $228.8M $227.2M $227.2M
Short-Term Investments $2.879M $2.620M $2.620M
Other Short-Term Assets $6.453M $10.01M $10.01M
YoY Change -14.81% 18.34% 18.34%
Inventory
Prepaid Expenses $5.300M $7.100M
Receivables $56.63M $66.47M $66.47M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $294.8M $306.3M $306.3M
YoY Change -6.62% -8.34% -8.34%
LONG-TERM ASSETS
Property, Plant & Equipment $5.176M $21.39M $21.39M
YoY Change 16.13% 445.44% 445.44%
Goodwill $18.87M $18.90M
YoY Change 287.1%
Intangibles $10.85M $11.08M
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.052M $57.86M $57.86M
YoY Change -31.86% 393.12% 30.35%
Total Long-Term Assets $106.7M $109.2M $109.2M
YoY Change 40.8% 100.14% 100.14%
TOTAL ASSETS
Total Short-Term Assets $294.8M $306.3M $306.3M
Total Long-Term Assets $106.7M $109.2M $109.2M
Total Assets $401.5M $415.5M $415.5M
YoY Change 2.57% 6.89% 6.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.451M $1.519M $1.519M
YoY Change -19.16% -16.72% -16.72%
Accrued Expenses $35.06M $47.78M $47.78M
YoY Change 28.52% 53.56% 53.56%
Deferred Revenue $91.48M $93.41M
YoY Change 20.25% 25.72%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $128.0M $142.7M $142.7M
YoY Change 21.72% 28.36% 28.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.839M $29.67M $29.67M
YoY Change 32.7% 652.5% 34.91%
Total Long-Term Liabilities $5.839M $29.67M $29.67M
YoY Change 32.7% 652.5% 34.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $128.0M $142.7M $142.7M
Total Long-Term Liabilities $5.839M $29.67M $29.67M
Total Liabilities $160.2M $186.4M $186.4M
YoY Change 14.1% 39.96% 34.69%
SHAREHOLDERS EQUITY
Retained Earnings -$426.1M -$416.9M
YoY Change 10.12% 11.09%
Common Stock $19.00K $19.00K
YoY Change 5.56% 5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $23.48M $21.67M
YoY Change 845.89% 1145.89%
Treasury Stock Shares
Shareholders Equity $227.2M $229.1M $229.1M
YoY Change
Total Liabilities & Shareholders Equity $401.5M $415.5M $415.5M
YoY Change 2.57% 6.89% 6.89%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$9.197M -$12.72M -$41.63M
YoY Change -21.19% 58.0% 18.2%
Depreciation, Depletion And Amortization $1.134M $1.239M $3.494M
YoY Change -31.77% 230.4% 191.17%
Cash From Operating Activities $1.250M $6.119M -$774.0K
YoY Change -120.41% -31.97% -115.39%
INVESTING ACTIVITIES
Capital Expenditures $225.0K $433.0K $3.853M
YoY Change -76.78% -57.13% 56.56%
Acquisitions $0.00 $18.57M
YoY Change -100.0%
Other Investing Activities $250.0K $1.365M -$21.45M
YoY Change -100.14% -205.49% 535.24%
Cash From Investing Activities $862.0K $1.365M -$21.45M
YoY Change -100.48% -205.49% 535.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$17.11M
YoY Change -1150.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$690.0K 612.0K -17.15M
YoY Change -340.42% -39.35% -108.63%
NET CHANGE
Cash From Operating Activities $1.250M 6.119M -774.0K
Cash From Investing Activities $862.0K 1.365M -21.45M
Cash From Financing Activities -$690.0K 612.0K -17.15M
Net Change In Cash $1.639M 8.096M -39.37M
YoY Change -100.87% -7.05% -119.78%
FREE CASH FLOW
Cash From Operating Activities $1.250M $6.119M -$774.0K
Capital Expenditures $225.0K $433.0K $3.853M
Free Cash Flow $1.025M $5.686M -$4.627M
YoY Change -114.45% -28.79% -280.11%

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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022 avpt Issuance Of Redeemable Noncontrolling Interest Stockholders Equity Impact
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CY2022 avpt Reclassifications Of Earn Out Rs Us To Earn Out Shares
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CY2022 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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2942000 usd
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2022Q4 us-gaap Stockholders Equity
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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021 avpt Reclassification Of Shared Based Awards To Temporary Equity
ReclassificationOfSharedBasedAwardsToTemporaryEquity
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CY2021 avpt Remeasurement Of Redemption Value Of Common Shares
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CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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46475000 usd
CY2021 avpt Remeasurement Of Redemption Value Of Convertible Preferred Stock
RemeasurementOfRedemptionValueOfConvertiblePreferredStock
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CY2021 avpt Issuance Of Redeemable Noncontrolling Interest Stockholders Equity Impact
IssuanceOfRedeemableNoncontrollingInterestStockholdersEquityImpact
515000 usd
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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CY2021 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2021 avpt Reclassifications Of Earn Out Rs Us To Earn Out Shares
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714000 usd
CY2021 us-gaap Treasury Stock Value Acquired Cost Method
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CY2021 us-gaap Profit Loss
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CY2021 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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1974000 usd
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526000 usd
CY2021Q4 us-gaap Stockholders Equity
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CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2022 avpt Depreciation Depletion And Amortization Including Amortization Of Intangible Assets
DepreciationDepletionAndAmortizationIncludingAmortizationOfIntangibleAssets
3494000 usd
CY2021 avpt Depreciation Depletion And Amortization Including Amortization Of Intangible Assets
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1238000 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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5945000 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2022 avpt Foreign Currency Remeasurement Gain Loss
ForeignCurrencyRemeasurementGainLoss
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CY2021 avpt Foreign Currency Remeasurement Gain Loss
ForeignCurrencyRemeasurementGainLoss
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CY2022 us-gaap Share Based Compensation
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CY2021 us-gaap Share Based Compensation
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CY2022 us-gaap Deferred Income Taxes And Tax Credits
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CY2021 us-gaap Deferred Income Taxes And Tax Credits
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CY2022 avpt Gain Loss On Change In Contingent Liability And Warrants Excluding General And Administrative Expense
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4402000 usd
CY2021 avpt Gain Loss On Change In Contingent Liability And Warrants Excluding General And Administrative Expense
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21233000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2108000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5914000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
9596000 usd
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
8890000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10626000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
20375000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
10805000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5030000 usd
CY2022 us-gaap Payments For Proceeds From Short Term Investments
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CY2021 us-gaap Payments For Proceeds From Short Term Investments
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CY2022 us-gaap Payments To Acquire Investments
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180969000 usd
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
916000 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
18572000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-0 usd
CY2022 us-gaap Payments For Software
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1612000 usd
CY2021 us-gaap Payments For Software
PaymentsForSoftware
-0 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3853000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2461000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21452000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 avpt Proceeds From Recapitalization Gross
ProceedsFromRecapitalizationGross
0 usd
CY2021 avpt Proceeds From Recapitalization Gross
ProceedsFromRecapitalizationGross
441573000 usd
CY2022 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
-0 usd
CY2021 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
130925000 usd
CY2022 avpt Payments For Redemption Of Legacy Common Stock
PaymentsForRedemptionOfLegacyCommonStock
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CY2021 avpt Payments For Redemption Of Legacy Common Stock
PaymentsForRedemptionOfLegacyCommonStock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
19927000 usd
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1628000 usd
CY2022 avpt Payment Of Net Cash Settlement For Directive Outstanding Options
PaymentOfNetCashSettlementForDirectiveOutstandingOptions
-0 usd
CY2021 avpt Payment Of Net Cash Settlement For Directive Outstanding Options
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7530000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2818000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5566000 usd
CY2022 us-gaap Proceeds From Minority Shareholders
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0 usd
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
753000 usd
CY2022 us-gaap Finance Lease Principal Payments
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39000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
25000 usd
CY2022 avpt Payments For Transaction Fees Business Acquisition
PaymentsForTransactionFeesBusinessAcquisition
-0 usd
CY2021 avpt Payments For Transaction Fees Business Acquisition
PaymentsForTransactionFeesBusinessAcquisition
2998000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
198617000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1655000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-1165000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-41029000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
199105000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
268217000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
69112000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
227188000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
268217000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
3320000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
4037000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
5635000 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 usd
CY2022 us-gaap Stock Issued1
StockIssued1
1517000 usd
CY2021 us-gaap Stock Issued1
StockIssued1
0 usd
CY2022 us-gaap Loans Assumed1
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235000 usd
CY2021 us-gaap Loans Assumed1
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CY2022 us-gaap Nature Of Operations
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b><em style="font: inherit;">1.</em> Nature of Business and Organization </b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">AvePoint, Inc. was incorporated as a New Jersey corporation on <em style="font: inherit;"> July 24, 2001, </em>and redomiciled as Delaware corporation in <em style="font: inherit;">2006.</em> On <em style="font: inherit;"> July 1, 2021, </em>AvePoint, Inc. (hereinafter referred to as “<i><b>AvePoint</b></i>”, the “<i><b>Company</b></i>”, “<i><b>we</b></i>”, “<i><b>us</b></i>”, or “<i><b>our</b></i>”) became a publicly traded company, as further described in “<i>Note <em style="font: inherit;">3</em> - Business Combination</i>”.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">AvePoint provides a cloud-native software platform that organizations rely on to optimize operations, manage critical data and secure the digital workplace. As companies around the world 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 SaaS solutions and productivity applications aimed at improving collaboration across the organization.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">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 previously relied upon 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 address this abundance 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.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">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.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">Our principal headquarters are located in Jersey City, New Jersey, with our operating headquarters in Richmond, Virginia and additional offices in North America, Europe, Asia, Australia and the Middle East.</p>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><span style="text-decoration: underline; "><i><b>Comparative Data</b></i></span></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt;"></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">Certain amounts from prior periods have been presented separately have been grouped to conform to the current period presentation, including:</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt;"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><td style="width: 3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;"> </td><td style="width: 2%; vertical-align: middle; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">■</p> </td><td style="width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The reclassification of long-term unbilled receivables to be included in other assets on the consolidated balance sheets as of <em style="font: inherit;"> December 31, 2021;</em></p> </td></tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><td style="width: 3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;"> </td><td style="width: 2%; vertical-align: middle; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">■</td><td style="width: 95%; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The reclassification of long-term unbilled receivables to be included in deferred contracts and other assets on the consolidated statements of cash flows for the year ended <em style="font: inherit;"> December 31, 2021;</em></td></tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><td style="width: 3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;"> </td><td style="width: 2%; vertical-align: middle; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">■</td><td style="width: 95%; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The reclassification of provision for doubtful accounts and loss (gain) on disposal of property and equipment to be included in other on the consolidated statements of cash flows for the year ended <em style="font: inherit;"> December 31, 2021; </em>and</td></tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><td style="width: 3%; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: middle; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">■</td><td style="width: 95%; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The payments of transaction fees to be included in proceeds from recapitalization of Apex shares on the consolidated statements of cash flows for the year ended <em style="font: inherit;"> December 31, 2021.</em></td></tr> </tbody></table>
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
48600000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
38900000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
0 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><span style="text-decoration: underline; "><i><b>Use of Estimates </b></i></span></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. We base our estimates and assumptions on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amounts of assets and liabilities reported in our consolidated balance sheets and the amounts of revenue and expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but <em style="font: inherit;">not</em> limited to, the accounting for revenue recognition, allowance for doubtful accounts, deferred contract costs, valuation of goodwill and other intangible assets, income taxes and related reserves, stock-based compensation, purchase price in a business combination, and earn-out liabilities. Actual results and outcomes <em style="font: inherit;"> may </em>differ from management’s estimates and assumptions due to risks and uncertainties.</p>
CY2022Q4 us-gaap Cash
Cash
10800000 usd
CY2021Q4 us-gaap Cash
Cash
9300000 usd
CY2022 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
CY2022 us-gaap Capitalized Contract Cost Impairment Loss
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0 usd
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
13400000 usd
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
9500000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
0 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
232339000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
191909000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
82300000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
72300000 usd
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
53749000 usd
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
74688000 usd
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
31943000 usd
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
61335000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
82332000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
38926000 usd
CY2021 avpt Increase Decrease In Accounts Receivable Net
IncreaseDecreaseInAccountsReceivableNet
7586000 usd
CY2021 avpt Deferred Revenue Increase Decrease
DeferredRevenueIncreaseDecrease
7644000 usd
CY2021 avpt Increase Decrease In Capitalized Contract Costs Net
IncreaseDecreaseInCapitalizedContractCostsNet
6983000 usd
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
61335000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
82332000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
38926000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
73348000 usd
CY2022Q4 us-gaap Contract With Customer Liability
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101490000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
48553000 usd
CY2022 avpt Increase Decrease In Accounts Receivable Net
IncreaseDecreaseInAccountsReceivableNet
12013000 usd
CY2022 avpt Deferred Revenue Increase Decrease
DeferredRevenueIncreaseDecrease
19158000 usd
CY2022 avpt Increase Decrease In Capitalized Contract Costs Net
IncreaseDecreaseInCapitalizedContractCostsNet
9627000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.64 pure
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12783000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11206000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7246000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7284000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5537000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3922000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2100000 usd
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2021 avpt Effective Income Tax Rate Reconciliation Returntoprovision Adjustments Amount
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CY2022 us-gaap Operating Lease Payments
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q4 us-gaap Operating Lease Liability Current
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5400000 usd
CY2021 us-gaap Operating Lease Expense
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CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2020 avpt Payments For Unconditional Purchase Commitment
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CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
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CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
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CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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CY2021Q3 avpt Number Of Shares Exchangeable At1500
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CY2021Q3 us-gaap Business Combination Contingent Consideration Liability
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CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
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CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
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CY2022Q4 us-gaap Common Stock Shares Authorized
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CY2022Q4 us-gaap Common Stock Shares Issued
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CY2021Q4 us-gaap Common Stock Shares Issued
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CY2021Q3 avpt Business Combination Share Exchange Ratio
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CY2021Q3 avpt Number Of Shares Subject To Vesting Provision
NumberOfSharesSubjectToVestingProvision
2916700
CY2022 avpt Number Of Shares Subject To Vesting Provision
NumberOfSharesSubjectToVestingProvision
0
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
7500000 usd
CY2021Q1 avpt Redeemable Noncontrolling Interest Increase From Contribution By Noncontrolling Interest
RedeemableNoncontrollingInterestIncreaseFromContributionByNoncontrollingInterest
800000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2200000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
30000.00 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.71
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.09
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
30480317
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.87
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M29D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
689406
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.88
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1799665
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.57
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
202255
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.94
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
29167803
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.05
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M10D
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
191909000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5537000 usd
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
29167803
CY2022 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y6M10D
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
4.05
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
19457559
CY2022 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P5Y8M26D
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
2.96
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
25500000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
29167803
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
19457559
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
33800000 usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
32000000.0 usd
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1799665
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6600000 usd
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5141331
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
40000000.0 usd
CY2019Q4 avpt Put Option Redemption Share
PutOptionRedemptionShare
3113170
CY2019Q4 avpt Put Option Underlying Option
PutOptionUnderlyingOption
5148777
CY2021Q3 avpt Liability Balance Related To Common Stock
LiabilityBalanceRelatedToCommonStock
49700000 usd
CY2022Q4 avpt Other Assets Certificate Of Deposits
OtherAssetsCertificateOfDeposits
162000 usd
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
6858000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
204128000 usd
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
10470000 usd
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
232339000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3922000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-38688000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-33245000 usd
CY2022 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
2942000 usd
CY2021 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1974000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-41630000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-35219000 usd
CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
-0 usd
CY2021 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
32928000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-41630000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-68147000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
181957000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141596000
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
181957000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141596000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
58566000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
56552000

Files In Submission

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avpt20221231_10k_htm.xml Edgar Link completed
avpt-20221231_cal.xml Edgar Link unprocessable
0001437749-23-008808-index-headers.html Edgar Link pending
0001437749-23-008808-index.html Edgar Link pending
0001437749-23-008808.txt Edgar Link pending
0001437749-23-008808-xbrl.zip Edgar Link pending
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avpt-20221231.xsd Edgar Link pending
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