earningsTotal expenses for the fiscal first quarter were $19.9 million,
an increase of $1.8 million compared to the prior year’s quarter of $18.2 million, due to increases in sales and marketing expenses and general and administrative expenses, slightly offset by a decrease in product research and development costs.
However, Q1 expenses as a percentage of revenue (1) decreased 10% year-over-year compared to the prior year’s Q1. We saw a significant improvement in our cash flows from operating activities where we
used $0.4 million of cash compared to $7.6 million in the prior year’s quarter. - Q1 revenue hit $26.3 million, up 25% year-over-year
- Annual Recurring Revenue (“ARR”) (1) increased 37% year-over-year to $54.2 million
- Record Net Dollar Retention (“NDR”) (1) of 130% improved year-over-year from 113%
- Gross profit increased 40% year-over-year to $14.6 million
- Gross margin of 55%, up from 49% in the prior year
- Adjusted EBITDA (1) loss of $3.2 million in Q1 2024 compared to $6.2 million loss in Q1 2023, an improvement of 48%
- Net cash used in operating activities decreased 94% to $0.4 million from $7.6 million year-over-year
- Company in excellent position to produce another record year and remains on track to generate positive quarterly Adjusted EBITDA in the latter half of the fiscal year
Still not positive cash flow or EBITDA positive but I'm still sure that the company gets there . The trend is our friend - increased sales and lower increase in expenses.
GLTA