Business
Kneat Announces Record Revenue for First Quarter 2025
LIMERICK, Ireland, May 07, 2025 (GLOBE NEWSWIRE) -- kneat.com, inc. (TSX: KSI) (OTC: KSIOF) ...
About this update from Kneat.com, Inc.
[{"type":"text","content":"Kneat Announces Record Revenue for First Quarter 2025\n\n\n\n LIMERICK, Ireland, May 07, 2025 (GLOBE NEWSWIRE) --\n \n kneat.com, inc. (TSX: KSI) (OTC: KSIOF)\n \n\n (“Kneat” or the “Company”)\n \n a leader in digitizing and automating validation and quality processes, today announced financial results for the three months ended March 31, 2025. All dollar amounts are presented in Canadian dollars unless otherwise stated.\n \n\n\n Total revenue reaches $14.7 million in the first quarter, an increase of 37% year over year\n \n\n Annual Recurring Revenue (ARR)\n \n 1\n \n at March 31, 2025, reaches $63.5 million, an increase of 51% year over year\n \n\n Gross profit and operating expense grow 38% and 21% respectively year over year as progress toward profitability continues\n \n\n\n\n\n “Kneat is off to a solid start in 2025, both in terms of continued strong growth and progress toward profitability.  We are encouraged by our customers’ continued intention to orchestrate their validation processes enterprise-wide; and we are committed to enhancing the Kneat Gx platform to help them complete their vision for efficiency, speed and trust in their validation processes.”\n \n\n\n\n - Eddie Ryan, Chief Executive Officer of Kneat.\n \n\n\n\n Q1 2025 Highlights\n \n\n\n\n Total revenues increased 37% to $14.7 million in the first quarter of 2025, compared to $10.8 million for the first quarter of 2024.\n \n\n SaaS revenue for the first quarter of 2025 grew 42% to $13.8 million, versus $9.7 million for the first quarter of 2024.\n \n\n First-quarter 2025 gross profit was $10.9 million, up 38% from $7.9 million in gross profit for the first quarter of 2024.\n \n\n Gross margin in the first quarter of 2025 was 74%, as it was in the first quarter of 2024.\n \n\n EBITDA\n \n 1\n \n in the first quarter of 2025 was $5.9 million, compared with ($0.5) million for the first quarter of 2024.\n \n\n Adjusted EBITDA\n \n 1\n \n in the first quarter of 2025 was $2.3 million, compared with $0.6 million for the first quarter of 2024.\n \n\n Total ARR\n \n 1\n \n was $63.5 million at March 31, 2025, an increase of 51% from $42.1 million at March 31, 2024.\n \n\n\n\n\n 1\n \n ARR is a supplementary measure. EBITDA and Adjusted EBITDA are non-IFRS measures and are not recognized, defi...