Estados financieros detallados de AvePoint, Inc. (AVPT): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
AvePoint, Inc. registró ingresos de $419.5M en el último ejercicio fiscal, con un CAGR de 5 años del 22.6%.
Márgenes de los últimos 12 meses: margen bruto 73.4%, margen operativo 9.8%, margen neto 15.3%. El flujo de caja libre creció a un CAGR del 35.1% en 5 años.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $107.3M | $116.1M | $151.5M | $191.9M | $232.3M | $271.8M | $330.5M | $419.5M |
| Coste de Ventas | $32.0M | $36.4M | $40.3M | $52.7M | $66.3M | $77.5M | $82.5M | $108.8M |
| Beneficio Bruto | $75.3M | $79.7M | $111.2M | $139.2M | $166.1M | $194.4M | $248.0M | $310.7M |
| I+D | $8.2M | $11.1M | $12.2M | $31.8M | $31.4M | $36.3M | $48.7M | $52.6M |
| Generales y Administrativos | $69.4M | $86.5M | $113.4M | $159.7M | $175.8M | $173.4M | $192.1M | $225.1M |
| Gastos Operativos | $77.6M | $98.7M | $126.7M | $192.7M | $207.1M | $209.7M | $240.8M | $277.7M |
| Beneficio Operativo | -$2.3M | -$19.0M | -$15.4M | -$53.5M | -$40.4M | -$15.4M | $7.2M | $33.0M |
| EBITDA | -$809000 | -$18.0M | -$14.4M | -$31.6M | -$30.1M | -$13.9M | -$19.0M | $46.7M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | $40000 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$2.0M | -$19.6M | -$15.9M | -$32.8M | -$33.6M | -$18.6M | -$24.4M | $40.5M |
| Impuestos | $1.9M | $614000 | $1.1M | $457000 | $5.0M | $2.9M | $4.7M | $5.4M |
| Beneficio Neto | -$3.9M | -$20.2M | -$17.0M | -$35.2M | -$41.6M | -$21.7M | -$29.1M | $35.1M |
| BPA | $-0.47 | $0.07 | $-0.57 | $-0.48 | $-0.23 | $-0.12 | $-0.16 | $0.17 |
| BPA Diluido | $-0.47 | $0.07 | $-0.57 | $-0.48 | $-0.23 | $-0.12 | $-0.16 | $0.15 |
| Acciones en Circulación (Diluidas) | $8.4M | $44.1M | $89.6M | $141.6M | $182.0M | $182.3M | $183.7M | $229.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $109.7M | $114.7M | $117.2M | $124.5M |
| Beneficio Bruto | $81.6M | $84.4M | $85.4M | $91.0M |
| Beneficio Operativo | $8.1M | $14.5M | $12.7M | $10.2M |
| EBITDA | $14.3M | $17.5M | $18.2M | $21.6M |
| Beneficio Neto | $13.0M | $15.6M | $15.2M | $27.6M |
| BPA | $0.06 | $0.07 | $0.07 | $0.13 |
| BPA Diluido | $0.06 | $0.07 | $0.07 | $0.12 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $12.2M | $69.1M | $268.2M | $227.2M | $223.2M | $290.7M | $481.1M |
| Inversiones a Corto | $3.3M | $992000 | $2.4M | $2.6M | $3.7M | $167000 | 0 |
| Cuentas por Cobrar | $39.9M | $48.2M | $55.1M | $66.5M | $85.9M | $87.4M | $124.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $58.6M | $120.7M | $334.2M | $306.3M | $325.6M | $394.8M | $625.3M |
| Inmovilizado Material | $2.7M | $2.7M | $3.9M | $21.4M | $19.0M | $21.2M | $22.8M |
| Fondo de Comercio | 0 | 0 | 0 | $18.9M | $19.2M | $17.7M | $38.0M |
| Activos Intangibles | 0 | 0 | 0 | $11.1M | $10.5M | $8.9M | $12.1M |
| Activos Totales | $98.1M | $169.1M | $388.7M | $415.5M | $442.6M | $519.1M | $789.2M |
| Cuentas por Pagar | $898000 | $774000 | $1.8M | $1.5M | $1.4M | $2.4M | $3.8M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $7.5M |
| Pasivos Corrientes | $69.2M | $92.2M | $111.2M | $142.7M | $176.7M | $223.0M | $273.7M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $112.8M | $173.9M | $133.2M | $172.4M | $217.7M | $248.1M | $310.5M |
| Reservas | -$234.0M | -$299.8M | -$375.3M | -$416.9M | -$460.5M | -$510.4M | -$510.1M |
| Patrimonio Neto | -$14.7M | -$7.9M | $250.4M | $229.1M | $210.6M | $269.2M | $478.7M |
| Deuda Total | $247000 | 0 | 0 | $16.7M | $14.7M | $16.5M | $17.4M |
| Deuda Neta | -$15.2M | -$70.1M | -$270.6M | -$213.1M | -$212.2M | -$274.4M | -$463.6M |
| Capital Circulante | -$10.7M | $28.5M | $223.0M | $163.6M | $148.9M | $171.8M | $351.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $471.6M | $481.1M | $444.1M | $417.2M |
| Activos Totales | $743.5M | $789.2M | $734.2M | $757.0M |
| Pasivos Totales | $276.7M | $310.5M | $295.4M | $320.1M |
| Patrimonio Neto | $466.8M | $478.7M | $438.8M | $436.9M |
| Deuda Total | $11.3M | $17.4M | $13.3M | $16.3M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$3.9M | -$20.2M | -$17.0M | -$33.2M | -$38.7M | -$21.7M | -$29.1M | $35.1M |
| Amortizaciones | $1.2M | $1.0M | $1.1M | $1.2M | $3.5M | $4.7M | $5.4M | $6.2M |
| Compensación en Acciones | $1.7M | $13.9M | 0 | $59.5M | $37.2M | $36.0M | $39.1M | $39.3M |
| Cambio en Capital Circulante | -$2.2M | $4.1M | $1.3M | -$1.6M | -$8.3M | -$2.4M | $28.8M | -$10.4M |
| Flujo de Caja Operativo | -$3.2M | -$2.1M | $19.1M | $5.0M | -$774000 | $34.7M | $88.9M | $85.3M |
| Inversiones (CapEx) | -$456000 | -$1.1M | -$1.0M | -$2.5M | -$5.5M | -$3.5M | -$3.0M | -$3.7M |
| Adquisiciones | 0 | 0 | 0 | 0 | -$18.6M | 0 | 0 | -$14.9M |
| Recompra de Acciones | 0 | 0 | -$33.7M | -$132.6M | -$19.9M | -$39.0M | -$33.1M | -$49.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$3.7M | -$3.1M | $18.1M | $2.6M | -$6.2M | $31.2M | $85.8M | $81.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $34.8M | $29.7M | $24.3M | $15.9M |
| Inversiones (CapEx) | -$857000 | -$697000 | -$1.3M | -$1.2M |
| Flujo de Caja Libre | $34.0M | $29.0M | $23.0M | $14.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $10.7M | $7.9M | $7.3M | $9.6M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +8.2% | +30.5% | +26.6% | +21.1% | +17.0% | +21.6% | +26.9% |
| Crecimiento Beneficio Neto (anual) | | -411.0% | +15.8% | -107.2% | -18.2% | +47.8% | -33.9% | +220.7% |
| Crecimiento BPA (anual) | | +114.3% | -947.0% | +15.8% | +52.1% | +47.8% | -33.3% | +206.2% |
| Cambio en Acciones (anual) | | +421.4% | +103.4% | +58.0% | +28.5% | +0.2% | +0.8% | +24.8% |
| Crecimiento FCF (anual) | | +14.5% | +677.4% | -85.8% | -342.9% | +599.6% | +175.4% | -5.0% |
| Margen Bruto | 70.2% | 68.6% | 73.4% | 72.6% | 71.5% | 71.5% | 75.0% | 74.1% |
| Margen Operativo | -2.1% | -16.4% | -10.2% | -27.9% | -17.4% | -5.6% | 2.2% | 7.9% |
| Margen EBITDA | -0.8% | -15.5% | -9.5% | -16.4% | -13.0% | -5.1% | -5.8% | 11.1% |
| Margen Neto | -3.7% | -17.4% | -11.2% | -18.4% | -17.9% | -8.0% | -8.8% | 8.4% |
| Margen FCF | -3.4% | -2.7% | 11.9% | 1.3% | -2.7% | 11.5% | 26.0% | 19.4% |
| Tasa Impositiva Efectiva | -95.6% | -3.1% | -6.7% | -1.4% | -15.0% | -15.5% | -19.4% | 13.3% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.43 | $-0.07 | $0.20 | $0.02 | $-0.03 | $0.17 | $0.47 | $0.36 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $8.4M | $44.1M | $89.6M | $141.6M | $182.0M | $182.3M | $183.7M | $207.6M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Margen bruto | 73.45% |
| Margen operativo | 9.78% |
| Margen neto | 15.33% |
Salud financiera
| Deuda / Patrimonio | 0.04 |
| Ratio corriente | 2.00 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -20.81 | 146.66 | -26.33 | -13.10 | -17.87 | -68.42 | -103.19 | 81.71 |
| P/VC | 0.00 | -29.51 | -169.28 | 3.56 | 3.26 | 7.11 | 11.27 | 6.02 |
| P/V | 0.77 | 3.75 | 8.88 | 4.64 | 3.22 | 5.50 | 9.18 | 6.87 |
| Margen Bruto | 70.2% | 68.6% | 73.4% | 72.6% | 71.5% | 71.5% | 75.0% | 74.1% |
| Margen Operativo | -2.1% | -16.4% | -10.2% | -27.9% | -17.4% | -5.6% | 2.2% | 7.9% |
| Margen Neto | -3.7% | -17.4% | -11.2% | -18.4% | -17.9% | -8.0% | -8.8% | 8.4% |