Financial Data and Key Metrics Changes - Revenue from the core platform, including services, was $34.2 million, representing a decrease of 7% year over year [24] - Total revenue for Q1 was $34.7 million, with total subscription and other platform revenue at $32.3 million [24] - Annual Recurring Revenue (ARR) related to the core platform totaled $125.9 million, a decrease of approximately $1.4 million compared to Q4 of 2024 [25] - Gross margin in Q1 was 77%, consistent with previous quarters [29] - Operating loss for Q1 was $2.1 million, compared to an operating loss of $800,000 in the same period last year [32] Business Line Data and Key Metrics Changes - Professional services revenue was $2.4 million, representing approximately 7% of total revenue [24] - The percentage of ARR in multiyear contracts increased to over 50% at the end of Q1 [26] - The average core ARR per customer was approximately $78,000, up slightly from year-end 2024 levels [27] - The contribution from customers with ARR over $100,000 remained consistent, representing about two-thirds of total ARR [27] Market Data and Key Metrics Changes - There was softness in the international and commercial business segments towards the end of Q1 due to increased macroeconomic uncertainty [26] - The company experienced the highest number of win backs from previous customers in the last five quarters [26] Company Strategy and Development Direction - The company is focusing on AI innovation, improved enterprise go-to-market execution, and maintaining positive cash flow [11][12] - A new global integrated marketing campaign called "Propel Forward" was launched to enhance demand and brand awareness [16] - The company aims to diversify its customer base beyond technology and manufacturing to include life sciences and financial services, which now represent a third of the business [72] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased macroeconomic uncertainty and decided to take a more conservative approach to near-term revenue guidance [36] - The company expects to be adjusted EBITDA positive in 2025 and aims to deliver positive free cash flow [39] - Management expressed confidence in the company's long-term growth potential despite current market challenges [22] Other Important Information - A new $50 million share repurchase program was announced to enhance shareholder value [23][41] - The company has returned a total of $191 million to shareholders through various capital return programs [35] Q&A Session Summary Question: Insights on the decline in the $100k ARR cohort - Management noted that they are close to turning the metric positive, with a modest decline in the number of customers contributing over $100k in total ARR [45][46] Question: Softness towards the end of the quarter - Management indicated that while there are good signs in the business, macro uncertainty has increased, leading to a more conservative outlook for annual revenue guidance [51][52] Question: Marketing plans with the new CMO - The new CMO is focused on transforming the go-to-market strategy with an emphasis on outcome-driven actions and strong ROI stories [66][70] Question: Performance of different verticals - Management highlighted that life sciences and financial services are performing better in terms of retention and are now a significant part of the business [72]