Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $64.7 million, above the midpoint of guidance, with adjusted EBITDA of $200,000 exceeding the high end of guidance [9][25][26] - Revenue from hosted services was $55.1 million, down 23% year-over-year, while recurring revenue was $60.4 million, accounting for 93% of total revenue and down 22% year-over-year [26] - Average revenue per customer increased by 2% year-over-year to $640,000, while net revenue retention decreased to 80% from 82% in the previous quarter [27] Business Line Data and Key Metrics Changes - The company signed a total of 50 deals in Q1, including five new logos and 45 expansions and renewals, representing a 25% quarter-over-quarter increase [22] - Professional services revenue was $9.6 million, down 30% year-over-year [26] Market Data and Key Metrics Changes - U.S. revenue was $40 million, while international revenue was $24.7 million, representing 38% of total revenue [26] - The company observed increasing demand for AI agents and orchestration, with significant renewals and expansions from major clients in regulated industries [23][24] Company Strategy and Development Direction - The company focuses on delivering a unified AI-powered platform for voice and digital engagement, emphasizing innovation without disruption [5][6][7] - Partnerships are a key part of the go-to-market strategy, with an expected launch of integration with Amazon Connect in Q2 [17][18] Management's Comments on Operating Environment and Future Outlook - Management noted that while the macro environment is uncertain, it has not led to deal shrinkage, and many deals have expanded in size [36][37] - The company expects positive net new annual recurring revenue (ARR) in the second half of the year, driven by improved renewal rates and new logos [20][30] Other Important Information - The company reaffirmed its full-year revenue guidance range of $240 million to $255 million, with approximately 93% expected to be recurring [28] - Cash on the balance sheet at the end of Q1 was $176 million, including proceeds from a previous transaction [28] Q&A Session Summary Question: Can you talk about the progress on the slipped Q1 deals in Q2 and any potential additional deal slippage? - Management indicated that they are on track to close the slipped deals in Q2, which have actually expanded in size [34][35] Question: Can you discuss the enthusiasm for the Amazon Connect integration and its potential impact? - Management expressed optimism about early interest in the integration, viewing it as a positive alignment with their strategy [39][41] Question: Can you elaborate on the trend in renewal rates over the last few quarters? - Management noted a significant improvement in renewal rates for Q2, approaching industry norms, and attributed this to changes in customer success efforts [46][48]