SaaS Revenue Growth
SaaS revenues increased slightly to $4.66 million, with gross margins maintaining a strong 91%.
New Business and Pricing Power
New business price per transaction increased 25% year-over-year and 8% sequentially, highlighting strong pricing power.
Banking Sector Expansion
A large regional bank signed a new multiyear agreement, and a Southern regional bank is finalizing a multiyear deal with significant revenue potential.
Expansion in Canada
Expansion into Canada continues, with a Canadian online bank completing integration for digital use cases.
Strong Performance in Automotive Vertical
Automotive sector revenue up 28% over Q3 2023, indicating solid growth.
Advancements in Technology
Ongoing enhancements to ID verification platform with new machine learning and statistical models to combat fake IDs and AI attacks.