Core Insights - Sylogist Ltd. reported strong Q1 2025 results, achieving record bookings and significant growth in SaaS revenue, indicating successful execution of its SaaS-focused strategy [2][3][7] Financial Performance - Total revenue for Q1 2025 was reported at $16.3 million, with a year-over-year growth of 3% [1] - SaaS Subscription revenue reached $7.8 million, reflecting a 15% year-over-year growth [1] - Annual Recurring Revenue (ARR) increased by 6% year-over-year to $44.3 million, while SaaS ARR grew by 15% to $31.4 million [7] - Bookings surged by 153% year-over-year to $23.1 million, including a significant contract valued at approximately $15 million with the Texas Office of the Attorney General [7] - Adjusted EBITDA margin was reported at 16.1%, equating to $2.62 million [7] Customer Satisfaction and Retention - The company achieved a Net Promoter Score (NPS) of 62, the highest in its history, indicating strong customer satisfaction [3] - SaaS Net Revenue Retention (NRR) stood at 108%, suggesting that existing customers are increasing their investments [3][7] Dividend Declaration - The Board of Directors declared a quarterly dividend of $0.01 per share, scheduled for payment on June 11, 2025, to shareholders of record on May 30, 2025 [3] Strategic Outlook - The company is optimistic about the ongoing acceleration of high-margin SaaS revenue and the potential for operating leverage and scalability in the future [3]