Strong Revenue Growth
Revenue grew by 13.2% year over year, reaching $100.7 million in Q3.
Significant Software Revenue Increase
Software revenue increased by 39.6% year over year, totaling $41.9 million.
High Gross Margin Achievement
Non-GAAP gross margin expanded by 297 basis points year over year to 73.1%.
Improved Profitability
Non-GAAP operating income nearly tripled year over year to $9 million, and adjusted EBITDA increased by 81.4% to $11.9 million.
Raised Full-Year Guidance
The company expects revenue of approximately $400 million, representing a 14% year-over-year growth, and adjusted EBITDA of approximately $47 million, representing a 60% growth.
Strong Cash Flow
Strong cash flow from operations of $25 million in Q3, with a free cash flow of $23.2 million for the first nine months.