Stable Revenue and Subscriber Growth
Revenue for the quarter was $42.5 million, up slightly from $42.2 million in the prior quarter, driven by year-over-year subscriber growth of 2% across the global customer base.
High Recurring Revenue
Recurring revenue was 92.6% of the quarterly total, demonstrating the consistency and predictability of the company's SaaS business model.
CARES Act Tax Refund
The company received a final federal CARES Act tax refund payment of $3.7 million, bringing the total refund to $33.9 million. This allowed for a $25.4 million mandatory prepayment on a term loan, reducing interest payments and strengthening the financial position.
Operating Expense Reduction
Operating expenses were reduced by 9% year-over-year, contributing to improved profitability.
Commitment to AI-driven Innovation
Released Personal Cloud version 25.5 with enhanced AI functionality, including AI-curated personalized memories and innovative timeline comparisons for users.
EU-U.S. Data Privacy Framework Certification
Achieved certification, demonstrating commitment to international privacy standards and enhancing trust with Tier 1 telecom operators.
Strong Partnerships and New Developments
Reported sustained momentum with AT&T, expanded retail presence with Verizon, and strategic expansion with SoftBank.