Financial Data and Key Metrics Changes - Q1 revenue was $29.1 million, representing a 151% year-over-year increase [28][33] - GAAP gross margin was 37%, down year-over-year, while non-GAAP gross margin was 51% [34] - Non-GAAP net loss was $22.3 million, with a non-GAAP net loss per share of 6 cents [39] Business Line Data and Key Metrics Changes - The number of active restaurants using Voice AI ordering solutions is nearing 13,000 locations, handling approximately 10 million interactions per quarter [30] - The company activated more than 1,000 new live restaurant locations in a single quarter, a tenfold increase compared to the previous year [29] - The automotive business is expected to grow, with a strong pipeline of new OEMs and a focus on voice commerce solutions [34][47] Market Data and Key Metrics Changes - The company is seeing balanced contributions across various industries, including automotive, restaurants, financial services, healthcare, and hospitality [46] - The automotive sector, which previously comprised 80% of the business mix, is now a low double-digit percentage, indicating diversification [49] Company Strategy and Development Direction - The company is focused on expanding its voice commerce ecosystem, leveraging existing restaurant and OEM networks to unlock new revenue opportunities [22][24] - The introduction of the AgenTic AI platform is expected to accelerate deployment and enhance customer value across various industries [52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the resilience of AI momentum and business traction despite macroeconomic volatility [41][94] - The company reaffirmed its 2025 revenue guidance of $157 to $177 million, with expectations for sequential improvement in adjusted EBITDA [40][42] Other Important Information - The company has no debt and ended the quarter with $246 million in cash and equivalents [39] - Significant investments in R&D and sales and marketing were made, reflecting a commitment to growth and innovation [35][36] Q&A Session Summary Question: Contribution from different verticals - Management noted a balanced contribution across industries, with optimism about growth in automotive and restaurant sectors [46][47] Question: Maturity of AgenTic technology - Management clarified that while AgenTic is a newer concept, the company has been developing related technologies for over ten years, providing a competitive advantage [57][58] Question: Impact of economic conditions on restaurant business - Management indicated that both good and challenging economic conditions drive interest in their technology for efficiency and revenue generation [66] Question: Changes in competitive landscape - Management acknowledged increased competition but emphasized their technological maturity and established customer base as key differentiators [68] Question: Gross margin modeling for the year - Management stated that gross margin is expected to improve as the business mix shifts and automation is implemented [72][73] Question: Retention rates within Amelia - Management reported ongoing improvements in retention rates post-acquisition, with a focus on customer success and expanding use cases [78][80] Question: M&A environment and outlook - Management confirmed that no M&A is needed to achieve current outlook but remains open to strategic opportunities [84][89] Question: Economic macro environment as a revenue catalyst - Management believes that the generational shift in technology will continue to drive demand for their solutions, regardless of economic conditions [94][96]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $29.1 million, representing a 151% increase year over year [5][28][33] - GAAP gross margin was 37%, down year over year, primarily due to the impact of recent acquisitions [34] - Non-GAAP gross margin was 51%, adjusted for noncash amortization and employee stock compensation [34] - Non-GAAP net loss was $22.3 million, with a loss per share of 6 cents [39] Business Line Data and Key Metrics Changes - The number of active restaurants using Voice AI ordering solutions reached nearly 13,000 locations, handling approximately 10 million interactions per quarter [30][31] - The company activated over 1,000 new live restaurant locations in a single quarter, a tenfold increase compared to the previous year [29] - The automotive sector saw a relative softness this quarter due to macroeconomic uncertainties, but the company remains optimistic about future contributions from this vertical [46][48] Market Data and Key Metrics Changes - The company is experiencing balanced contributions across various industries, including automotive, restaurants, financial services, healthcare, and hospitality [45] - The automotive business, which previously comprised 80% of the company's revenue mix, is now a low double-digit percentage, indicating diversification [48] - The company is seeing strong momentum in the restaurant sector, with significant penetration in pizza and drive-thru operations [49] Company Strategy and Development Direction - The company is focused on leveraging its AI technology to drive innovation and efficiency across various sectors, including voice commerce and agentic AI [10][12][23] - The recent acquisitions are expected to enhance the company's capabilities and market position, particularly in the restaurant and automotive sectors [6][35] - The company aims to achieve adjusted EBITDA profitability by the end of 2025, with a commitment to disciplined cost management [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of AI momentum and business traction despite macroeconomic volatility [40][41] - The company is optimistic about the growth potential in voice commerce and the expansion of its serviceable markets [33][40] - Management noted that the trends in AI and voice technology are creating favorable conditions for business growth [26][41] Other Important Information - The company has a strong pipeline of new OEMs and is optimistic about the voice commerce solution's potential [34][39] - The company is actively working on improving retention rates and customer success following the acquisition of Amelia [72] Q&A Session Summary Question: How should the company think about the levels of business from different verticals? - The company has seen balanced contributions across industries, with optimism about growth in both automotive and restaurant sectors [45][46] Question: How mature are the AgenTic solutions being deployed? - The company has been developing agentic behavior for over ten years, and the solutions are now live and in production [55][56] Question: Could economic uncertainty impact the restaurant business? - The company believes that both good and challenging economic conditions drive interest in their technology for efficiency gains [61][62] Question: Have there been changes in the competitive landscape? - The company has seen more players enter the market but maintains a mature state in technology and customer integration [64][65] Question: How should investors model gross margin for the rest of the year? - The company expects gross margin improvements as it digests acquisitions and shifts its business mix [67][68] Question: What are the retention rates within Amelia? - The company is working to improve retention rates and has seen a pathway to strengthen gross retention and net retention [71][72]