Revenue and EBITDA Growth
Q3 2025 revenue of $72.6 million, up 3% quarter-over-quarter and 1% year-over-year. Adjusted EBITDA was positive $4.7 million, an improvement of $5 million sequentially and $7.3 million year-over-year.
Transition to Subscription Model
Subscription ARR increased by 29% year-over-year to $21.3 million, with over 90% of new sales on subscription.
Secondary Storage Revenue Growth
Secondary storage revenue grew 15% year-over-year, driven by the new DXi data protection appliances.
Large Customer Wins
Secured a multimillion-dollar deal with a top European retailer and a major American multinational technology manufacturer.
Strategic Financial Moves
Entered a standby equity purchase agreement with Yorkville Advisors to improve liquidity and reduce debt.
Federal Sector Growth
US Federal sector revenue up 54% year-over-year, marking the best performance since fiscal 2022.