May. 28 at 4:11 PM
$AVPT Bull case is getting stronger imo.
This is one of the cleaner software setups:
• Q1 revenue
$117.2M, +26% YoY
• SaaS revenue
$93.4M, +35% YoY
• ARR
$435.2M, +26% YoY
• 28k+ global customers
•
$444M cash
• No debt
• Q1 FCF
$23M / ~20% FCF margin
• Rule of 40/50 type profile depending metric used
The AI angle is real too. Enterprises rolling out Microsoft 365 Copilot / AI agents need data governance, backup, compliance, permissions cleanup, security, and lifecycle controls. That’s AVPT’s lane.
2026 guide:
• Revenue
$509M-
$515M
• ARR
$523M-
$529M
• ARR growth ~26% midpoint
• Non-GAAP op income
$91.5M-
$94.5M
Plus they’re buying back stock:
• 5.4M shares repurchased in Q1
• 1.8M more after Q1
•
$150M authorization refreshed