Good day, and welcome to the AvePoint Inc , First Quarter 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, you may press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. Jamie Arestia, Vice President and Investor Relations. Please go ahead.
Thank you, operator. Good afternoon, and welcome to AvePoint's First Quarter 2025 earnings call. With me on the call this afternoon is Dr. TJ Jiang, Chief Executive Officer, and Jim Caci, Chief Financial Officer. After preliminary remarks, we will open the call for a question-and-answer session. Please note that this call will include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management's current expectations. We encourage you to review the safe harbor statements contained in our press release for a more complete description. All material in the webcast is the sole property and copyright of AvePoint, with all rights reserved. Please note this presentation describes certain non-GAAP measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, and non-GAAP operating margin, which are not measures prepared in accordance with US GAAP.
The non-GAAP measures are presented in this presentation as we believe they provide investors with a means of understanding how management evaluates the company's operating performance. The non-GAAP measures should not be considered in isolation from, as substitutes for, or superior to, financial measures prepared in accordance with US GAAP. A reconciliation of these measures to the most directly comparable GAAP financial measures is available in our First Quarter 2025 Earnings Press Release, as well as our updated investor presentation and financial tables, all of which are available on our Investor relations website. With that, let me turn the call over to TJ.
Thank you, Jamie, and thank you to everyone joining us on the call today. I'm pleased to report that our first quarter results were an excellent start to the year and a continuation of the strong momentum we displayed throughout 2024. In delivering another quarter of robust financial and operational performance, including outperforming our guidance and delivering strong growth in total ARR and record growth in net new ARR, we're steadily advancing toward our vision of becoming the world's leading data management software company and achieving the billion-dollar ARR target for 2029 that we announced at our March 2025 Investor Day. Our Q1 results reflect two foundational themes. First, the intensifying convergence of data security, governance, and resilience needs as organizations move from planning to implementing their data management strategies, and second, our increasing ability to deliver comprehensive solutions that address these interconnected challenges as companies modernize their data stores.
I'll discuss these themes in the context of current business climate, where companies around the world grapple with tariff uncertainty and the impact on their business, as well as on the global economy. Even in these fluid times, AvePoint is well positioned to navigate the road ahead, given our past success in similar periods, as well as the mission-critical nature of our solutions. Even when the business landscape can evolve drastically from day to day, the data management problems we're solving in the era of AI, including training data provenance, model explainability, and responsible surveillance, simply cannot be ignored by any company seeking to build a durable competitive advantage. Indeed, as we look across our vast customer base, we see that AI-driven strategies are beginning to shift from experimental testing to practical implementation, in turn accelerating the need for solutions that can balance security, collaboration, and innovation.
I'll wrap up with some strategic customer wins that demonstrate how our expanded platform capabilities are uniquely positioned to address this maturing and growing need, and then I'll turn it over to Jim to discuss our financial results. With that, let's jump in. As we have said many times, our vantage point across 25,000 customers of all sizes, in all regions, and across all industries gives us the unique insight into how data management challenges are evolving. While the core issues we discussed last quarter, digital transformation imperatives, data modernization needs, and security concerns remain top of mind, what is changing is how these challenges are converging and intensifying. Organizations are no longer just planning for digital transformation. They're deep in implementation and are facing the practical realities of managing exploding data volumes across increasingly distributed environments.
This is happening as the cybersecurity threat surface continues to escalate in sophistication, with ransomware attacks becoming more targeted. At the same time, regulatory requirements aren't just complex. They're actively expanding, with new frameworks and cross-border compliance standards being implemented globally, adding layers of operational and legal complexity. Most notably, the convergence of these challenges is happening when AI-driven strategies are beginning to shift from experimental to operational for many organizations, creating an urgent need for data governance frameworks that can support innovation while maintaining security and compliance. In other words, the question has moved from, "Can we use AI?" to, "How do we responsibly implement AI at scale?" These trends are compounding in ways that make point solutions increasingly inadequate. Organizations are recognizing that siloed approaches to data protection, governance, compliance, and content management create dangerous gaps and inefficiencies.
This recognition is driving demand for truly integrated platforms that can deliver comprehensive data management capabilities. Our platform strategy continues to resonate strongly with customers precisely because it addresses these converging challenges. Rather than forcing organizations to cobble together disparate solutions, we provide a cohesive approach to addressing the most pressing strategic use cases. These include protecting data with enhanced resilience capabilities that go beyond simple backup to include ransomware attack detection and recovery, security assessments, automated recovery testing, and breach prevention, governing data through intelligent policies that adapt to evolving regulations and usage patterns through automated access control, and lastly, optimizing data by identifying redundant contents, automating lifecycle management, and preparing environments for AI implementation. We also know that ongoing innovation is critical to maintain our competitive moat.