CLAIM #64338 · AvePoint, Inc. (AVPT) · 2021Q2 earnings call · Aug 11, 2021 · due Aug 11, 2023
“We’re pretty comfortable that we’ll get to the industry benchmarking medium term.”
Tianyi Jiang · CEO
How to check this claim
Look at: Net revenue retention rate (NRR)
It came true if: NRR >= 120%
Where: management commentary / company-disclosed NRR metric in quarterly earnings call or shareholder letter
In context
“erne: That’s very helpful. And then just one quick question about sort of the trends around NRR. I know you guys have focused or have invested a lot in your customer success organization. Did you feel like there’s still some low hanging fruit in that area in terms of helping NRR moved higher or is NRR growth and you’re going to have to be more you either retention and or up-sell driven. TJ Jiang: Our goal is to quickly get to the industry benchmark of 120%, our right now were 111%. We have shown meaningful improvements over the last two and a half years of investment. Just year-over-year, it’s about five points improvement. It’s, for us, we’re very comfortable with that. It’s an investment of technology, people and process will continue to do that from cross sell and up-sell capabilities. We’re pretty comfortable that we’ll get to the industry benchmarking medium term. Kirk Materne: That sounds good. Thanks for answering the questions. TJ Jiang : Thank you, Kirk. Operator: Our next question is from Nehal Chokshi with Northland Capital. Please proceed with your question. Nehal Chokshi: Thank you. And nice to see sustained 30% plus ARR growth. That’s awesome. Congratulations. Marks out the change that on how their reporting teams growth. It’s not really very clear if team’s growth is tapering or not. In that context, can you give us some perspective as far as what you think is happening there? And then how does that affect your pipeline? TJ Jiang : That’s a great question to Nehal. So, Microsoft Teams previous announced number was 140 million actively data users. And now they just recently announced 250 million actively monthly users. Interestingly, we al”
Verify independently
SEC filings for AVPT ↗ · Claim quote is verbatim from the 2021Q2 earnings call.