Record Growth in Subscription Revenue
Subscription revenue grew by 23% in Q2 of 2025 compared to Q2 of 2024, driven by both new customer acquisitions and expansions within the existing customer base.
Strong Performance in Large Contracts
Contracts valued over $100,000 increased by 27%, those over $300,000 by 37%, and those over $500,000 by 35%, compared to Q2 of 2024.
Positive Non-GAAP Operating Margin
Exceeded non-GAAP operating margin guidance by 380 basis points, and forecasted further improvement in operating margin to 7-8% in Q3 and 7-7.5% for the full year 2025.
Impressive Net Retention Rate
Net retention rate reached 114% in Q2 2025, up from 109% in Q2 2024, driven by upsell and cross-sell within the existing customer base.
Significant Customer Wins
Major deals include a 7-figure expansion with a U.S.-based Fortune 500 bank and a mid-6-figure new logo deal with a large U.K.-based asset management company.