Strong Revenue Growth
Total revenue increased by 31% year-over-year, with a 5% organic growth. Software revenue grew by 41%, marking a significant increase.
Software Segment Success
The Software segment saw substantial growth, with MonolixSuite increasing by 43% and QSP Software revenue growing by 40%. The segment also added 12 new customers and had nine customer upsells.
Positive Services Bookings
Services bookings were strong, ending the quarter with a $17.3 million backlog, up 22% from the previous quarter.
Healthy Customer Renewal Rates
Software customer renewal rate was 95% based on fees and 83% based on accounts, indicating strong customer retention.
Solid Adjusted EBITDA
Adjusted EBITDA was $4.5 million or 24% of revenue, which is on track to achieve fiscal 2025 guidance ranges.