Financial Data and Key Metrics Changes - The company reported record total revenue of $47 million for Q1 2025, up 5% year over year, with subscription revenue reaching $44.9 million, an increase of 9% year over year [6][22] - Adjusted EBITDA for the quarter was $4.1 million, marking the seventh consecutive quarter of adjusted EBITDA profitability [6][25] - Non-GAAP gross margin improved to 70%, up from 65% in the same quarter last year [7][25] - Cash used in operations was $1 million, consistent with the first quarter of the previous year [7][27] Business Line Data and Key Metrics Changes - In the Enterprise and Telecom (EENT) segment, total revenue was $34.4 million, up 6% year over year, with subscription revenue at $33.6 million, a 10% increase year over year [24] - In the Media and Technology (M&T) segment, total revenue was $12.6 million, representing 2% year over year growth, with subscription revenue at $11.3 million, up 7% year over year [24][25] - Professional services revenue decreased significantly, down 42% year over year, contributing $2.1 million for the quarter [22][23] Market Data and Key Metrics Changes - The company experienced a lower rate of new subscription bookings in Q1, which is typical for the season, but noted an increase in new logos from significant clients such as Stripe and Novo Nordisk [9][19] - The net dollar retention rate improved to 107%, the highest level since Q1 2022 [10][24] Company Strategy and Development Direction - The company aims to achieve double-digit revenue growth and a rule of 30 by 2028, focusing on profitable growth and expanding its AI capabilities [16][33] - Continued investment in AI is a priority, with enhancements to products like Genie agents to provide personalized experiences [10][12] - The company is gradually increasing its sales team after a previous reduction, focusing on enterprise customers while also looking to reaccelerate growth in the M&T and education sectors [44][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the uncertain macroeconomic environment, noting no significant negative feedback from customers regarding spending [36][40] - The company anticipates a rebound in gross retention rates in the second half of the year, following expected declines in the first half [19][31] - Despite a slower start to the year, the company maintains its revenue guidance for 2025 while slightly increasing its adjusted EBITDA guidance [20][28] Other Important Information - The company hosted its first annual investor event, showcasing its growth plans and AI-infused vision [16][17] - The company continues to receive recognition from leading analyst firms, including Gartner, for its innovative products [15] Q&A Session Summary Question: What are customers saying about their willingness to spend this year? - Management noted that there has been no negative impact reported from customers, who are focused on mid to long-term planning [36][40] Question: Where will new resources be allocated in the sales team? - The company plans to gradually increase sales resources, focusing on enterprise customers while also reaccelerating efforts in M&T and education [44][46] Question: What is the nature of the M&T churn expected? - Management indicated that the churn is primarily due to a few specific accounts exiting rather than a broader trend, with expectations for improved retention moving forward [51][52] Question: What is driving the higher ARR per customer? - The increase is attributed to customers using multiple products and upselling rather than just price increases [72] Question: Any updates on AI monetization strategy? - The company is optimistic about its AI products, with expectations to start monetizing these offerings in the coming quarters [76][77]

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