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CLAIM #64402 · AvePoint, Inc. (AVPT) · 2022Q2 earnings call · Aug 11, 2022 · due Dec 31, 2022

Having said that though, we've now in Q3 starting to see that come down, because the market is cooling and we do see some tech companies announcing either hiring freezes or shedding of workforces. So, we see that churn pressure its going down, second half of the year.

Tianyi Jiang · CEO

PENDING
graded after results covering Dec 31, 2022 are reported

How to check this claim

Look at: Customer churn rate (as disclosed/discussed by management, e.g., net revenue retention or gross churn)

It came true if: Churn rate in H2 2022 (Q3 and Q4) lower than churn rate reported in Q1/Q2 2022

Where: Management commentary on Q3 and Q4 2022 earnings calls / retention metrics disclosure

In context

. It does take time to do that and we expect that will uplift the upsell and cross-sell dollar values in the second half of the year. Of course Jim also talk about the occurrence of migration projects that were part of the upsell into existing accounts. We see a lot more migration in existing customers. So that's part of the equation, even though that doesn't necessarily contribute to our AR number today. So yes so, in terms of churn though, that's a very good question. We like all tech companies are experiencing higher than historical churn. Historically, we're actually much better than our industry peers in terms of controlling high retention, but Q1 and Q2 this year. We do see higher than usual churn for us even though compared to our industry peers we're still below those churn rates. Having said that though, we've now in Q3 starting to see that come down, because the market is cooling and we do see some tech companies announcing either hiring freezes or shedding of workforces. So, we see that churn pressure its going down, second half of the year. Derrick Wood: Okay. TJ thanks helpful color. Jim one for you, if I look at your guidance for Q3 and the full year, we obviously come back in Q4 and it attenuates kind of flat revenue quarter-on-quarter. I know you saw a similar dynamic last year. But historically, I did think that was one time last year historically you did have decent sequential strength in Q4? Can you just talk about the dynamics on that revenue progression and then just the guidance would accentuate that you're kind of exiting Q4 with about mid-upper teens revenue growth, but you're guiding to yeah, 31% AR growth at year-end. So it's a pretty big delta, could you talk about why that's such a big delta and how we should think about that potentially converging in 2023? Jim Caci: Yes, so maybe the - first piece of that fi

Verify independently

SEC filings for AVPT · Claim quote is verbatim from the 2022Q2 earnings call.