AvePoint, Inc. Segments Disclosure
18. Segment Information
The Company manages its business activities on a consolidated basis and operates in a operating segment. Its products and services are sold throughout the world, through direct and indirect sales channels. The Company’s chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a consolidated basis. The CODM does not review assets in evaluating the results of the segment.
The CODM assesses performance for the consolidated entity and decides how to allocate resources based on net income (loss) reported on the consolidated statements of income (loss). The CODM uses net income (loss) to monitor budgeted versus actual results and to conduct competitive analysis by benchmarking against industry peers. Additionally, net income (loss) serves as a basis for making strategic decisions, such as acquisitions and reinvestments into business, and establishing management compensation linked to segment performance.
The following table sets forth the information about the Company’s reported segment revenue, segment profit or loss, and significant segment expenses:
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| (in thousands) | ||||||||||||
| Revenue: | $ | 419,497 | $ | 330,482 | $ | 271,825 | ||||||
| Less: | ||||||||||||
| People expenses | 223,059 | 185,686 | 163,138 | |||||||||
| Stock based compensation | 39,315 | 39,059 | 36,048 | |||||||||
| Cloud and server hosting services expenses | 44,965 | 32,496 | 29,188 | |||||||||
| Marketing expenses | 14,578 | 12,709 | 12,400 | |||||||||
| Other segment items (1) | 62,460 | 89,674 | 52,552 | |||||||||
| Net income (loss) | $ | 35,120 | $ | (29,142 | ) | $ | (21,501 | ) | ||||
(1) The other segment items category includes professional services, rent, software maintenance, travel, depreciation and amortization, certain overhead expense, and mark-to-market of earn-out shares liabilities and warrant liabilities.
Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. The following table sets forth revenue by geographic area:
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| (in thousands) | ||||||||||||
| Revenue: | ||||||||||||
| North America | $ | 164,808 | $ | 135,870 | $ | 118,490 | ||||||
| EMEA | 134,312 | 99,256 | 81,753 | |||||||||
| APAC | 120,377 | 95,356 | 71,582 | |||||||||
| Total revenue | $ | 419,497 | $ | 330,482 | $ | 271,825 | ||||||
The following table sets forth revenue generated by countries which represent more than 10% of total consolidated revenue:
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| (in thousands) | ||||||||||||
| Revenue: | ||||||||||||
| United States | $ | 162,642 | $ | 135,288 | $ | 115,799 | ||||||
| Germany | 56,094 | 41,765 | 35,775 | |||||||||
| Singapore | 51,656 | 43,113 | 30,974 | |||||||||
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (in thousands) | ||||||||
| Property and equipment, net: | ||||||||
| United States | $ | 1,594 | $ | 953 | ||||
| China | 969 | 1,193 | ||||||
| Other | 3,457 | 3,143 | ||||||
| Total property and equipment, net | $ | 6,020 | $ | 5,289 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 31, 2022 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.