AvePoint reported Q2 2025 total revenues of $102 million, up 31% year-over-year and above the high end of guidance.
Customer retention improved with a trailing 12-month gross retention rate of 89% (91% excluding migration products) and a net retention rate of 112%, the highest ever.
Gross profit was $76.3 million with a gross margin of 74.8%, slightly down from 76.2% due to a higher mix of low-margin services revenue.
Net new ARR added was $22.1 million, the highest ever, with total ARR reaching $367.6 million, up 27% year-over-year.
Operating income was $18.8 million with an 18.4% operating margin, representing a margin expansion of over 700 basis points year-over-year.
SaaS revenues reached $77.3 million, growing 44% year-over-year and comprising 76% of total revenues, the highest quarterly mix to date.
Adesis contributed $7.5 million in revenue in Q2 2025, up from $3.5 million in Q2 2024, unrelated to OLED business.
A quarterly dividend of $0.45 was approved, payable September 30, 2025.
Cash, cash equivalents and investments totaled approximately $932 million at quarter end.
Gross margins improved slightly to 77% in Q2 2025 from 76% in Q2 2024, with cost of sales at $39 million.
Material sales in Q2 2025 were $89 million, down from $95 million in Q2 2024, with green emitter sales at $64 million and red emitter sales at $24 million.
Net income for Q2 2025 was $67 million or $1.41 per diluted share, compared to $52 million or $1.10 per diluted share in Q2 2024.
Operating expenses remained flat at $64 million year-over-year for Q2.
Operating income rose to $69 million with a 40% margin, up from $56 million and 36% margin in Q2 2024.
Royalty and license fees increased to $76 million in Q2 2025 from $60 million in Q2 2024.
Universal Display reported record Q2 2025 revenue of $172 million, up from $159 million in Q2 2024.
Dafinchi