Revenue Growth
Total revenue for the second quarter of fiscal 2025 was $11.9 million, a 15.5% increase from the second quarter of fiscal 2024.
Platform Subscription Revenue Increase
Platform subscription revenue increased 47% to $4.6 million, driven by a net increase of Platform deployments and contributions from Scite.
Annual Recurring Revenue (ARR) Growth
The company ended the quarter with $19.1 million in ARR, up 23% year-over-year, with strong growth in both B2B and B2C Platform deployments.
Record Platform Deployments
Achieved 61 net new B2B Platform deployments, the highest organic performance the company has ever posted.
Improved Gross Margin
Gross margin for the second quarter was 48.9%, a 540-basis-point improvement over the second quarter of fiscal 2024.
Cash Flow and Balance Sheet Strength
Generated $1 million in cash flow from operations during the quarter, with cash and cash equivalents increasing to $7.7 million.