AvePoint, Inc.
AVPT Technology Software Infrastructure
AvePoint, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $419.5 million, up 26.9% from fiscal 2024. In the quarter to June 2026, revenue grew 22.0%, EPS grew 1,200.0% and free cash flow fell 25.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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AvePoint, Inc. (AVPT) Altman Z-score
AvePoint, Inc.'s Altman Z-score for fiscal 2025 is 5.87, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.87 | (1.17) |
| FY2024 | 7.04 | 3.58 |
| FY2023 | 3.46 | 1.75 |
| FY2022 | 1.71 | (1.53) |
| FY2021 | 3.24 | 2.69 |
| FY2020 | 0.55 | (0.88) |
| FY2019 | 1.42 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.45 | — | 0.53 | |
| Retained earnings / total assets | (0.65) | — | −0.90 | |
| EBIT / total assets | 0.04 | — | 0.14 | |
| Market value of equity / total liabilities | 9.29 | — | 5.57 | |
| Sales / total assets | 0.53 | — | 0.53 | |
| Altman Z-score | Safe zone | 5.87 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 2.72 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TCGL TechCreate Group Ltd. compare | 88.8× |
| CLBT Cellebrite DI Ltd. compare | 6.6× |
| AVPT AvePoint, Inc. | 5.9× |
| NTCT NetScout Systems, Inc. compare | 2.7× |
| APPN Appian Corporation compare | 2.1× |
| WIX Wix.com Ltd. compare | 1.6× |
| PAGS PagSeguro Digital Ltd. compare | 1.3× |
| FOUR Shift4 Payments, Inc. compare | 1.0× |
| TDC Teradata Corporation compare | 0.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets