Record B2B Performance
Strongest organic first quarter B2B results on record with a 21% increase in Total ARR, driven by large deals including Real Chemistry and a top 10 pharma company.
Growth in Platform Subscription Revenue
Platform subscription revenue increased by 18% to $5.1 million, driven by new platform deployments, upsells, and cross-sells.
Increased Gross Margin
Gross margin improved to 50.6%, a 270 basis point increase over the prior year, driven by a shift towards higher-margin platforms business.
Strong Cash Flow
Cash flow from operations increased by 31% to $1.1 million, and there were no outstanding borrowings under the revolving line of credit.
Successful AI Initiatives
Introduction of AI rights offering and AI gateway product to monetize AI usage of content, aligning with market trends and creating new revenue streams.