Business
Pivotree Announces First Quarter 2025 Results
Pivotree delivers another record Adjusted EBITDA of $2.0 million in Q1 2025 since going public in...
About this update from Pivotree, Inc.
[{"type":"text","content":"Pivotree Announces First Quarter 2025 ResultsPivotree delivers another record Adjusted EBITDA of $2.0 million in Q1 2025 since going public in 2020 TORONTO, ON / ACCESS Newswire / May 14, 2025 / Pivotree Inc. (TSXV:PVT) (\"Pivotree\" or the \"Company\"), a leader in frictionless commerce solutions, today reported financial results for the three month period ended March 31, 2025. All amounts are expressed in Canadian dollars unless otherwise stated.\"We achieved sequential revenue growth, another record quarter with Adjusted EBITDA reaching $2.0 million and for the first time since being public we reported $232k in net income.\" said Bill Di Nardo, CEO of Pivotree. \"We also recently announced the divestiture of our WMS software business with a purchase price of $2.7M, bringing more focus to fewer products with our R&D investments moving forward.\"Pivotree also announced today that it has released a letter to shareholders from Bill Di Nardo, CEO. The letter can be accessed from the Company's website at investor.pivotree.com and filed on SEDAR at www.sedar.com.First Quarter 2025 Financial Highlights(All figures are in Canadian dollars and all comparisons are relative to the three-month period ended March 31, 2024 unless otherwise stated):Total Revenue of $19.2 million, a decrease of 8.5% or a decrease of 13.5% in constant currency. In comparison to the most recent quarter, Total Revenue posted an increase of 5.1% growth and Total Revenue excluding Legacy Managed Services (LMS) increased 8.0%.Total Managed & IP Solutions + Legacy Managed Services (MIPS + LMS) of $8.0 million, a decrease of 14.9%, or 19.6% in constant currency.Managed & IP Solutions (MIPS) Revenue declined 8.0% to $3.7M in Q1 2025, due to the ramp down of MIPS SKU Build volume from the higher transaction levels experienced in the prior year. In comparison to the most recent quarter, Total Revenue posted an increase of 8.0% growthLegacy Managed Services (LMS) Revenue declined 20.1% to $4.3M in Q1 2025, from $5.4M in Q1 2024, related to churn and melt of Legacy Oracle customers.In comparison to the most recent quarter, Total Revenue posted a decrease of 3.8% growthProfessional Services Revenue of $11.2 million, a decrease of 3.2% or a decrease of 8.5% in constant currency. These three month ended results contain new customer projects, which helped partiall...