Oct 7, 2025 6:00 AM Eastern Daylight Time Company earns three Comparably awards along with honors from TrustRadius and the Stevie® Awards Earlier this year, the company earned six additional awards from Comparably, the American Business Awards®, and Inspiring Workplaces Group, including Best Company Outlook, Best Company for Women, Best Company for Diversity, Best Companies for Career Growth, Inspiring Workplace in North America, and Human Resources Team of the Year. To explore career opportunities and lear ...

Financial Data and Key Metrics Changes - First quarter ARR grew 11% year over year in constant currency, with total ARR reaching $492.7 million, reflecting a 10% year-over-year growth on a reported basis [24][25] - First quarter revenue was $118.2 million, exceeding guidance by $2.2 million, representing approximately 4% year-over-year growth on a reported basis [25][26] - Adjusted EBITDA for the first quarter was $31.6 million, reflecting a 27% margin, which was above the high end of guidance [26][27] - Gross margin for the first quarter was 80.6%, down from 84.7% in the same period in 2024 [26] Business Line Data and Key Metrics Changes - Subscription revenue was $116.8 million, representing approximately 5% year-over-year growth on a reported basis [25] - The company ended the quarter with 2,398 customers contributing $50,000 or more of ARR, up approximately 10% year over year [25] - Dollar-based net revenue retention was approximately 101% on both a reported and constant currency basis [25] Market Data and Key Metrics Changes - Approximately 43% of revenue was generated outside of North America during the quarter [28] - The company is targeting $750 million in ARR by 2028, driven by three growth pillars: driving security success, scaling go-to-market efforts, and boosting customer expansion [7][8] Company Strategy and Development Direction - The company is focused on expanding its go-to-market strategy by partnering with a broader range of channel providers, including resellers and system integrators [18][19] - The launch of new security capabilities and the growth of channel partners are seen as key components of the company's innovation and growth strategy [33] - The company is committed to CMMC 2.0 readiness to enhance its appeal in regulated sectors [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for cybersecurity solutions, noting that the need for cyber resiliency is a must for businesses [42] - Despite some anecdotal evidence of longer sales cycles, the overall demand remains strong, and the pipeline is robust [42][70] - The company raised its revenue and ARR guidance for the full year, reflecting strong first-quarter results and updated foreign exchange rates [29][30] Other Important Information - The company announced a $75 million share repurchase authorization program, indicating confidence in its business [24] - The adjusted EBITDA guidance for the full year was raised, with expectations of $134 million to $139 million, representing a margin of 27% to 28% [31] Q&A Session Summary Question: Contribution of AdLumin acquisition to revenue growth - The AdLumin acquisition contributed approximately $21 million of ARR at the time of acquisition, which should help in calculating organic growth rates [36][37] Question: Considerations for seasonality in ARR - Management expects ARR growth to be consistent throughout the year, with slight improvements as the year progresses [38] Question: Market spending environment and customer feedback - Demand for cybersecurity solutions remains strong, with no significant changes in metrics, although some deals are taking longer to close [42][70] Question: Dollar-based net revenue retention dynamics - Management expects the current retention rate to be a trough, with improvements driven by cross-selling opportunities [45][47] Question: Reseller traction and growth potential - The company is in the early stages of expanding its reseller network, with expectations for more significant impacts in 2026 [56][58] Question: Integration of offerings into a single platform - The company is focused on automating workflows and integrating its offerings to enhance efficiency and security for customers [96][100]