Recurring DVM Revenue Growth And International ExpansionThe DVM segment's 49% CAGR, 20% YoY ARR growth and >19M active subscriptions indicate a durable shift toward recurring, higher-margin revenue. International customer additions and 108% net revenue retention improve revenue predictability and underpin sustained ARR-driven cash flows.
Improving Margins And EBITDA ExpansionA 66% rise in adjusted EBITDA, a 350bp lift in gross margin and an EBITDA margin around reported mid-teens reflect durable operating leverage from a higher-margin product mix and cost discipline. Sustained margin expansion enhances long-term free cash generation and reinvestment capacity.
Refinanced Capital Structure And Positive Cash Flow TrendsSecuring a $15m revolver and enhanced loan terms increases liquidity and reduces refinancing risk. Coupled with improved free cash flow and a modest debt/equity ratio (0.26), this provides lasting financial flexibility to fund growth, absorb one‑offs and support strategic expansion.