Significant Revenue Growth
Total revenue increased 23% year-over-year to $22.4 million, with organic growth of 5% excluding contributions from new business units.
Strong Software Segment Performance
Software revenue grew by 16%, with renewal rates remaining at historical levels and new logo sales tracking well, despite funding challenges. QSP business unit revenue surged by 89%, largely driven by a model license for atopic dermatitis.
Service Segment Success
Services revenue grew by 34%, led by strong performance in CPP and MC business units. Ended the quarter with a backlog of $20.4 million, up 18% from the previous quarter.
Positive Financial Metrics
Adjusted diluted EPS was $0.31, and adjusted EBITDA was $6.6 million or 29% of revenue. The company remains well-capitalized with $21.4 million in cash and no debt.
Reaffirmed Fiscal Year Guidance
The company reaffirmed guidance for fiscal year 2025 with expected total revenue between $90 million to $93 million, and year-over-year revenue growth between 28% to 33%.