Record Revenue and Growth
Q2 revenue increased 23% year-over-year to $163 million, with marketplace growth at 26%, driven by expanding buyer and supplier networks.
Improved Gross Margin
Marketplace gross margin reached a record 35.4%, up 190 basis points year-over-year, contributing to an overall company gross margin of 40.1%.
Strong Adjusted EBITDA
Q2 adjusted EBITDA was $3.9 million, an improvement of $6.6 million year-over-year, with a US segment adjusted EBITDA of $6.9 million.
Enterprise Growth
Accounts with last 12-month spend of at least $50,000 increased 15% year-over-year, with significant growth in accounts spending over $500,000.
Successful Technology and AI Integration
Notable product releases and AI deployments in Q2 and early Q3, including enhanced quoting and Teamspace expansion in the EU.