Significant Revenue Growth
Total revenue for the first quarter of fiscal 2025 was $12 million, marking a 20% increase from the first quarter of fiscal 2024. Platform subscription revenue increased 67% to $4.3 million.
Impressive ARR and EBITDA Growth
Annual Recurring Revenue (ARR) increased by 60% year-over-year to $17.6 million. Adjusted EBITDA for the quarter was $1.3 million, with a 10.6% margin, compared to a negative $441,000 in the year-ago quarter.
Record Gross Margin Achieved
Gross margin for the quarter was 47.9%, a 780 basis point improvement over the first quarter of 2024, setting a new company record for blended gross margin.
Cash Flow Improvement
Positive cash flow from operations of $843,000 was generated compared to a cash burn of $756,000 in the prior year quarter.