Strong Start to Fiscal 2026
Fiscal 2026 is off to a strong start with Q1 exceeding consensus analyst expectations. The recurring revenue model now represents over 90% of total revenue, setting a foundation for sequential growth in Q2 and continued improvement in the second half.
Increase in MRR Bookings and Strategic Opportunities
MRR bookings grew 2.4% sequentially and 6.4% year-over-year. Deals over $10,000 of MRR increased 39% sequentially and are 72% above the FY '25 quarterly average.
Growth in Pipeline and Booking Momentum
New pipeline creation increased 39% quarter-over-quarter. The overall size of the pipeline remains steady with a 6% increase in the last 6 weeks, instilling confidence in Q2 and beyond.
Strong Cash Flow and Debt Reduction
Generated $4.9 million in net cash from operating activities with a 60% conversion rate from adjusted EBITDA. Retired an additional $5.2 million in debt during the first quarter.