Record Revenue and Improved Margins
Q4 2024 revenue reached a record $9.7 million, a 24% increase year-over-year, and gross margins improved to 80%. Adjusted EBITDA margins also reached a record 24%.
Strong Full-Year Financial Performance
Full year 2024 revenues grew 12% to $35.2 million, with gross profit increasing to $27.9 million. Adjusted EBITDA for the full year was $6.7 million, a significant increase from 2023.
Growth in Enterprise and Partner Channels
Enterprise channel contributed 42% of ARR, while the partner and marketplace channel grew 14% year-over-year, representing approximately 58% of ARR.
Expansion into European Market
Preparation for the European Accessibility Act with a team in Europe. Anticipation of growth similar to GDPR rollout, with a potential acceleration in the second half of 2025.
Improved AI Capabilities
Significant increase in AI automated detection capabilities, automatically detecting 500% more issues than other solutions.
Share Repurchase Program
Authorization of a $12.5 million share repurchase program through January 2027 as a strategy to deploy excess capital.