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CLAIM #64424 · AvePoint, Inc. (AVPT) · 2022Q3 earnings call · Nov 10, 2022 · due Dec 31, 2024

I think our target has been that services winds up being about 10% of our business.

Jim Caci · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

How to check this claim

Look at: Services revenue as a percentage of total company revenue

It came true if: Services revenue share <= 12% of total revenue

Where: Company-disclosed revenue mix (10-K/10-Q segment or revenue breakdown, or quarterly earnings call commentary)

In context

s and data silos. We actually have a great data engine aggregating data lake from multiple sources to actually measure the productivity and collaboration engagement, and even do sentiment analysis across organizations, across boundaries, across hybrid work scenarios. So that's the different phases for us to do cross sell and upsell and expansion, and we have customer examples and large and small customer examples doing just that. Chirag Ved: And maybe just one for Jim. You talked about over time that services declining as a percentage of revenue, and this would in turn drive [greater] operating leverage. Maybe just broadly speaking, do you have any sort of timeline on how quickly you expect that to materialize and by what magnitude? Jim Caci: Well, maybe we'll start with the latter first. I think our target has been that services winds up being about 10% of our business. So I think that's the easier piece to answer. I think what we saw from Q2 to Q3, we went from 18% to 17%. So I do think it's going to take us a couple years to get there. But I do think we're going to continue to see the services absolute dollars increasing, but as a percentage of revenue they continue to decline. And then obviously when you look at the P&L, it's obviously our lowest margin business. And so obviously as that declines, it will help improve the overall margins. Operator: And we have no further questions queued at this time. So I'll turn things back over to TJ for any additional or closing remarks. TJ Jiang: Thank you. I just want to conclude by saying how excited I am about the opportunity in front of us, and what a privilege it is to work with so many talented people, coll

Verify independently

SEC filings for AVPT · Claim quote is verbatim from the 2022Q3 earnings call.