Strong Revenue Growth
Revenue for the quarter increased by 27% over Q1 2024, reaching $81 million. On a constant currency basis, revenue grew by 28% to $82 million.
Increase in Recurring Revenue
Recurring revenue grew by 35% over Q1 2024, representing 77% of total revenue compared to 72% in the same quarter last year.
Expansion of Customer Base
Customer base expanded by more than 30% since Q1 2024, reaching over 100,000 customers at the end of Q1.
Growth in Managed Devices
Installed base of managed and connected devices grew by 20% since Q1 2024 to more than 1.3 million devices.
Profitability Increase
Adjusted EBITDA was $9.7 million, representing 12% of total revenue, up from 6% of revenue in the previous year.
Strategic Acquisitions
Acquired UPPay and increased ownership in Tigapo to 84%. Also acquired Inpro Pay in the Benelux region.