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CLAIM #64523 · AvePoint, Inc. (AVPT) · 2024Q2 earnings call · Aug 8, 2024 · due Aug 8, 2025

You're right, our longer-term target is 90-plus percent.

Jim Caci · CFO

PENDING
graded after results covering Aug 8, 2025 are reported

How to check this claim

Look at: Gross retention rate (GRR)

It came true if: Gross retention rate >= 90%

Where: management commentary on quarterly earnings calls / investor materials

In context

ities. So that's definitely the tailwind there. Chirag Ved: Okay. And Jim, maybe one for you. Gross retention rates are continuing to increase. Can you speak a little bit to the steps you're taking to increasing gross retention to 90% or even above that and how we should think about expansion here? Thank you. Jim Caci: Great question, and thank you. I think, overall, we're really pleased with the results of Q2, literally across the board. We think we had a really strong quarter. I will tell you the one thing that we are focused on, and as we sit around the table and kind of rehash the quarter, we've actually been flat in terms of our GRR, around 87%. So we actually haven't seen the growth there that we're actually anticipating and we're working real hard to actually have come to fruition. You're right, our longer-term target is 90-plus percent. So I would say that's the one takeaway for me from this quarter is that really strong quarter. We're happy and pleased that the retention rate has been stable at 87, but our goal is to see that improve. We are working on a number of initiatives on a regional basis across the globe to ensure that we see movement and progress toward that 90% target. So, I do think I appreciate you pointing that out. It is something we are focused on. It is definitely top of mind for us. There are a number like I said, there's a number of initiatives that are going on. We've talked about those in the past, both personnel related, technology related. And then even from a when we think about what's the drivers behind that retention, and our biggest challenge on the churn side of why we're losing is really arou

Verify independently

SEC filings for AVPT · Claim quote is verbatim from the 2024Q2 earnings call.