Financial Data and Key Metrics Changes - The company reported a 14% year-over-year growth in trailing twelve-month recurring calculated billings, marking the strongest performance in ten quarters [7] - Free cash flow improved by 123% year-over-year, reaching $1,100,000 in the first quarter [7][19] - Subscription revenue increased to $70,800,000, up 10% year-over-year, while total revenue reached $86,300,000, up 7% year-over-year [20] - Non-GAAP earnings per share for the first quarter was $0.13, exceeding guidance [23] Business Line Data and Key Metrics Changes - Recurring revenue constituted 85% of total revenue, an increase from 84% in the same quarter last year [20] - Non-GAAP subscription gross margin improved to 81%, up over 160 basis points year-over-year [21] - Non-GAAP services gross margin was reported at 13%, an improvement of over 460 basis points year-over-year [21] Market Data and Key Metrics Changes - The company experienced strong demand in the travel sector, winning contracts with two of the top seven US carriers [13][30] - The ongoing market volatility has led to increased adoption of AI-powered pricing and selling solutions, with companies recognizing the need for real-time data-driven decisions [11][12] Company Strategy and Development Direction - The company is focusing on AI-powered solutions to enhance sales efficiency and customer experience, positioning itself as a market leader in this space [14][15] - The upcoming Outperform conference will showcase the latest AI innovations, emphasizing the company's commitment to responsible AI development [15][74] Management's Comments on Operating Environment and Future Outlook - Management noted that the current macroeconomic environment is complex but has not negatively impacted demand; instead, there is an increase in inbound demand and meetings booked [33][34] - The company maintains its full-year guidance despite the positive trends, citing the need to remain cautious due to macro risks [66] Other Important Information - The company announced the planned retirement of its CEO, with Jeff Cotton set to take over as president and CEO [16][17] - The company exited the first quarter with $170,000,000 in cash and investments [22] Q&A Session Summary Question: Insights on the bookings environment and travel segment - Management indicated improvements in the travel segment, with innovations resonating well and contributing to strong performance [30] Question: Impact of the current macro environment on business - Management stated that the complex selling environment has not hindered demand; instead, companies are accelerating initiatives [32][34] Question: Clarification on gross margin improvements - Management explained that efficiencies in cloud solutions and automation in services have driven better gross margins [39][40] Question: Breakdown of revenue guidance between new and existing customers - Management provided a 40-60 split between new and existing customers, indicating a consistent mix moving forward [51] Question: Changes in go-to-market strategy contributing to improved bookings - Management highlighted improvements in sales execution, productivity, and marketing functions as key contributors to the positive trend [54]