Strong Revenue Growth
Total net revenues for the fourth quarter increased 11.9% to $18.4 million, compared with $16.4 million in the prior year period. Fiscal 2025 total net revenues were $66.1 million, up from $61.4 million in fiscal 2024.
Increase in Subscription and Support Revenues
Subscription and support revenues grew 9.9% in Q4 to $8.2 million from $7.5 million in the same period last year. Full year subscription and support revenues were $32.9 million, up from $28 million in the previous year.
Significant Contract Wins
Secured a $16 million, five-year contract with a major US automaker and a multi-million dollar deal with a major Chinese automotive finance company. Entered the Middle East with a deal in Oman.
Operational Efficiency Improvements
Gross profit for the quarter was $10.3 million, representing a 56% gross margin, up from 52% in the prior year quarter. Operating expenses decreased to 39% of sales from 47%.
Leadership Strengthening
Added Richard Howard as an advisory board member and Ian Smith to the Board of Directors, both with extensive experience in the automotive and financial services sectors.