Exceeded Adjusted EBITDA Expectations
Adjusted EBITDA for the third quarter was $7.3 million, surpassing the top end of the guidance range of $4 million to $6.5 million.
Strong Client Retention
The vast majority of clients continue to renew their subscriptions, indicating strong client retention despite economic uncertainties.
Successful Sales Transformation
The sales force transformation in North America is showing positive results with more new logos and increased expansion across existing clients.
Education Subscription Revenue Growth
Education subscription revenue increased by 13% in the third quarter, and deferred revenue balance increased by 21%.
High Services Attach Rate
The Enterprise division maintained a 60% services attach rate, which is significant given the current economic climate.