Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $35.3 million, exceeding expectations, with total subscription and other platform revenue at $32.4 million and professional services revenue at $2.9 million, representing approximately 8% of total revenue [24][25] - Total ARR at the end of Q2 was $127.1 million, with core platform ARR at $125.1 million, showing positive momentum in the business [25][26] - Gross margin in Q2 was 77%, consistent with previous quarters, while operating loss was $900,000, compared to a loss of $300,000 in the same period last year [28][30] Business Line Data and Key Metrics Changes - The average core ARR per customer reached approximately $80,000, the highest reported, with five new customers added with over $100,000 in ARR [17][26] - The number of customers with ARR over $100,000 grew by five, representing about two-thirds of total ARR [26] - The percentage of ARR in multiyear agreements reached over 50%, the highest ever [27] Market Data and Key Metrics Changes - The company saw strong performance in enterprise segments, particularly in financial services and life sciences, with increased customer engagement and retention [44][45] - The regulated industries business, including financial services and life sciences, continued to grow, increasing as a percentage of total business [18] Company Strategy and Development Direction - The company is focusing on AI innovation and enhancing enterprise go-to-market execution, which has led to improved customer engagement and retention [7][16] - Strategic initiatives include moving from single digital events to omnichannel global campaigns, leveraging first-party data for personalized content [8][10] - The company aims to drive measurable business outcomes for customers through AI-powered solutions and enhanced analytics capabilities [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to ARR growth in Q4, driven by improved retention and growth bookings [50] - The overall market environment shows mixed trends, with some segments focusing on growth initiatives while others remain challenged [44] - The company expects to deliver positive adjusted EBITDA and free cash flow for 2025, with a focus on AI-driven innovation [38][36] Other Important Information - The company has a strong balance sheet with nearly $180 million in cash and investments at the end of Q2 [33] - A $50 million share repurchase program was initiated, with $4.3 million utilized in Q2 [33][38] Q&A Session Summary Question: General market environment and buying trends - Management noted good enterprise new business performance and improved growth retention, with excitement around AI offerings, particularly in financial services and life sciences [41][44] Question: Pipeline heading into Q4 and confidence around ARR strength - Management highlighted strong pipeline generation in Q2 and expressed confidence in achieving ARR growth in Q4, supported by improvements in gross retention and new business performance [46][50] Question: Driving greater penetration within enterprise customers - Management indicated that the growth in customers with over $100,000 in ARR was driven by improved enterprise execution and increased adoption of AI-powered solutions [52][54]

Financial Data and Key Metrics Changes - The company reported Q4 revenue from its core platform, including services, at $36 million, a decrease of 6% year-over-year, while total revenue, including Virtual Conference, was $36.7 million [39] - Total ARR at the end of Q4 was $129.7 million, with core platform ARR at $127.3 million, reflecting a decrease of approximately $2.3 million from Q3 [41] - Non-GAAP gross margin improved from 75% in 2023 to 77% in 2024, and adjusted EBITDA margin improved by almost 200 basis points year-over-year [11][51] Business Line Data and Key Metrics Changes - The percentage of customers using two or more products reached an all-time high of 39% at the end of 2024, up from 17% in 2019 [48] - ARR from multi-year deals increased to 51%, up over 20 points since the end of 2019 [47] - Professional services revenue was $3.1 million in Q4, a decrease of 13% year-over-year [40] Market Data and Key Metrics Changes - The company noted improvements in gross retention rates, with Q4 gross retention consistent with the highest levels seen in 2024, up by mid-single-digits from 2023 [44] - The dollar-based net retention (NRR) for Enterprise customers was 91%, a mid-single-digit improvement from 2023 [44] - The company observed stabilization in the marketing budget environment, with some green shoots in the technology vertical [78] Company Strategy and Development Direction - The company is focused on platform innovation, particularly through the AI-powered ACE product, which accounted for over 20% of growth ARR bookings in Q4 [8][20] - The strategic emphasis is on regulated industries and digital transformation use cases, with continued strength in life sciences and financial services [24] - The company aims to return to double-digit top-line revenue growth and double-digit EBITDA margins in the long term [16][68] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the marketing budget environment, noting that while 2024 was challenging, there are signs of recovery in 2025 [80] - The company expects to return to positive ARR growth in 2025, driven by improvements in customer retention and spending initiatives [64][66] - Management highlighted the importance of AI tools and innovations in driving future growth [33][61] Other Important Information - The company achieved positive free cash flow of $2.6 million in 2024, a significant improvement from negative $14.4 million in 2023 [60] - The company ended Q4 with $182.7 million in cash, cash equivalents, and marketable securities, maintaining a strong balance sheet [57] - A new $25 million share repurchase program was announced, with $23.6 million utilized to date [58] Q&A Session Summary Question: Overview of the marketing budget environment - Management noted that 2024 was one of the toughest years for marketing budgets, but there are signs of recovery in 2025, particularly in the technology vertical [76][78] Question: Guidance on operating margins and expense structure - Management indicated a balanced approach to returning to growth while maintaining profitability, with selected investments in product innovation and go-to-market strategies [81][84] Question: Expectation of free cash flow positivity in 2025 - Management expects to be free cash flow positive in 2025, aligning with EPS profitability [88]

Financial Data and Key Metrics Changes - In Q4 2024, revenue from the core platform, including services, was $36 million, representing a 6% year-over-year decrease [26] - Total revenue for Q4, including virtual conference products, was $36.7 million, with subscription and other platform revenue at $33.6 million and professional services revenue at $3.1 million, a 13% year-over-year decrease [26] - ARR from the core platform at the end of Q4 was $127.3 million, a decrease of $2.3 million from Q3, while total ARR was $129.7 million [9][27] - Non-GAAP gross margin improved from 75% in 2023 to 77% in 2024, and adjusted EBITDA margin improved by almost 200 basis points compared to 2023 [8][33] - Free cash flow for 2024 was positive $2.6 million, an improvement of $17 million from negative $14.4 million in 2023 [8][40] Business Line Data and Key Metrics Changes - The percentage of customers using two or more products reached an all-time high of close to 40% [7] - ARR from multi-year deals increased to 51%, up over 20 points since 2019 [31] - New business and expansion bookings in Q4 were the highest of the year, with AI-powered ACE contributing over 20% of growth ARR bookings [9][28] Market Data and Key Metrics Changes - The enterprise customer segment showed a net retention rate (NRR) of 91%, a mid-single-digit improvement over 2023 [29] - The ARR contribution from customers spending over $100,000 represented approximately two-thirds of total ARR [30] - The company noted continued strength in regulated verticals, particularly life sciences and financial services [16] Company Strategy and Development Direction - The company is focused on platform innovation, particularly through AI integration, to enhance digital engagement [11][12] - Strategic priorities include advancing the enterprise go-to-market strategy and enhancing customer success efforts in regulated industries [19] - The company aims for double-digit top-line revenue growth and double-digit EBITDA margins in the long term [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the marketing budget environment, noting some green shoots in the technology vertical [52][54] - The company expects to return to positive ARR growth in 2025, driven by improvements in gross retention and customer spending initiatives [21][42] - Management highlighted the importance of AI tools in driving growth and improving customer engagement [21][41] Other Important Information - The company ended Q4 with $182.7 million in cash, cash equivalents, and marketable securities [37] - A new $25 million share repurchase program was announced, with $23.6 million utilized to date [38][39] Q&A Session Summary Question: Overview of the marketing budget environment - Management noted that 2024 was a tough year for marketing budgets, but there are signs of improvement in 2025, particularly in technology [52][54] Question: Guidance on operating margins and expense structure - Management indicated a balanced approach to returning to growth while maintaining profitability, with selected investments in product innovation and go-to-market strategies [55][58] Question: Expectation of free cash flow positivity in 2025 - Management expects to be free cash flow positive in 2025, excluding any one-time or restructuring charges [61]