Gross Margin Improvement
Gross margins increased from 75% in Q1 2024 to 78% in Q1 2025, attributed to operational optimizations and reduced headcount.
Increase in Average Recurring Revenue (ARR)
New subscriptions signed in Q1 2025 averaged $14,059, up from $9,300 in Q1 2024, marking a 20% increase.
Significant Reduction in Debt
Debt on the balance sheet reduced by 78% as a result of the sale of the compliance business.
Adjusted EBITDA Growth
Adjusted EBITDA for Q1 2025 increased to $564,000, representing 10% of revenue, up from $61,000 or 1% of revenue in Q1 2024.
Recent Big Brand Wins
Secured large brands such as UPS, BlackBerry, Konica Minolta, and the Chicago White Sox, which supported customer growth and cross-selling opportunities.