Kneat Announces Record Revenue for First Quarter 2025

Core Insights - Kneat.com, inc. reported strong financial results for Q1 2025, with total revenue reaching $14.7 million, a 37% increase year over year [6][7] - The company is focused on enhancing its Kneat Gx platform to improve efficiency and trust in validation processes for its customers [2] - Kneat's Annual Recurring Revenue (ARR) grew by 51% year over year, reaching $63.5 million as of March 31, 2025 [6][7] Financial Performance - Total revenue for Q1 2025 was $14.7 million, compared to $10.8 million in Q1 2024, marking a 37% increase [6][7] - SaaS revenue increased by 42% to $13.8 million in Q1 2025 from $9.7 million in Q1 2024 [7] - Gross profit for Q1 2025 was $10.9 million, up 38% from $7.9 million in Q1 2024, maintaining a gross margin of 74% [7][19] - EBITDA for Q1 2025 was $5.9 million, compared to a loss of $0.5 million in Q1 2024 [7][19] - Adjusted EBITDA for Q1 2025 was $2.3 million, up from $0.6 million in Q1 2024 [7][19] Business Highlights - Kneat partnered with Capgemini in January 2025 to enhance the deployment of its digital validation platform in life sciences companies [6] - The company secured contracts with a European leader in specialty therapeutics and a global consumer products company to digitize validation processes [6] - Kneat's cash position improved, ending Q1 2025 with $74.1 million in cash, up from $58.9 million at the end of Q1 2024 [8][20] Leadership and Events - Kneat announced the expansion of its executive leadership team, with a new Chief Innovation Officer role being created [13] - The company hosted its annual event, VALIDATE, which saw record attendance and showcased the capabilities of the Kneat Gx platform [13]