Financial Performance - Revenue for Q1 2025 was $6.8 million, down from $7.8 million in Q1 2024, reflecting a decline of approximately 12.8%[5] - Gross margin improved to 47.4% in Q1 2025, up from 34.5% in Q1 2024, an increase of about 13 percentage points[7] - Net loss narrowed to ($5.8) million in Q1 2025 compared to ($12.2) million in Q1 2024, representing a reduction of approximately 52.4%[10] - Bookings in Q1 2025 were $8.3 million, down 6% year-over-year, with a 78% decline in international geographies excluding China[9] - Operating expenses in Q1 2025 were $7.6 million, compared to $7.0 million in Q1 2024, reflecting a year-over-year increase[9] Contract Value and Acquisitions - Annualized Contract Value (ACV) of renewable software increased by 10% to $11.6 million as of March 31, 2025, compared to $10.6 million a year ago[8] - The company completed the acquisition of Second Avenue Learning on April 15, 2025, enhancing its educational technology offerings[5] Strategic Initiatives - zSpace transitioned fully to the Inspire 2 laptop, which aims to improve cost efficiencies while maintaining the immersive experience[5] - The company closed a $20 million convertible debt financing facility post-quarter, with $13 million funded at closing[3] - zSpace was included in the Russell 2000® and Russell 3000® Indexes effective March 24, 2025, marking a significant milestone[5]
zSpace Inc(ZSPC) - 2025 Q1 - Quarterly Results