Slide 1: Q3 2025 Earnings Call Presentation
Q1 Q3 2025 2025 Earnings Earnings Call Call Presentation Presentation Matt MattCalkins, Calkins,Founder CEO & CEO Mark SergeLynch, Interim Tanjga, CFO CFO
Slide 2: Disclaimer
Disclaimer. In this presentation, we may make statements related to our business that are forward-looking statements under federal securities laws and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our financia
Slide 3: Q3 2025 Highlights
Q3 2025 Highlights. Revenue • Cloud subscriptions revenue was $113.6 million in Q3 2025 (+21% Y/Y) • Subscriptions revenue was $147.2 million in Q3 2025 (+20% Y/Y) • Total revenue was $187.0 million in Q3 2025 (+21% Y/Y) Non-GAAP Gross Margins* • Subscriptions gross margin was 88%. • Professional se
Slide 4: GTM Productivity
GTM Productivity. Calculated by adding total revenue and the quarterly changes in short term deferred revenue for the trailing 12-month period, then dividing the result by non-GAAP sales and marketing 4 expense for the trailing 12-month period. Refer to the reconciliation of GAAP to non-GAAP measure
Slide 5: Cloud Gross Renewal Rate
Cloud Gross Renewal Rate. Q1 Q2 Q3 Q4 2022 99% 99% 99% 99% 99 99%% 2023 98% 98% 97% 98% 2024 99% 99% 99% 99% 2025 99% 98% 98% Calculated by dividing the aggregate recurring cloud subscriptions revenue in the current trailing 12-month period by the aggregate recurring cloud subscriptions revenue from
Slide 6: Annualized Recurring Revenue ("ARR")
Annualized Recurring Revenue ("ARR"). 6
Slide 7: Total Revenue
Total Revenue.* 7 * Reported in millions. Totals may not foot due to rounding.
Slide 8: Constant Currency Revenue Growth Rates
Constant Currency Revenue Growth Rates. Growth on a constant currency basis is calculated by translating revenue in the current period using the comparable prior year exchange rates. 8
Slide 9: Cloud Subscriptions Revenue Retention Rate
Cloud Subscriptions Revenue Retention Rate. Calculated by dividing the aggregate recurring cloud subscriptions revenue in the current trailing 12-month period by the aggregate recurring cloud subscriptions revenue from the 9 previous trailing 12-month period. This calculation includes the combined i
Slide 10: Subscriptions vs. Professional Services Revenues
Subscriptions vs. Professional Services Revenues. 10
Slide 11: Non-GAAP Gross Margins
Non-GAAP Gross Margins.* 11 * Data excludes stock-based compensation expense and severance costs. Refer to the reconciliation of GAAP to non-GAAP measures in the Appendix.
Slide 12: Q3 2025 Summary
Q3 2025 Summary. Cloud Subscriptions Revenue (USD, in millions) Retention As of September 30, 2025 111% 12 * Data excludes stock-based compensation expense and severance costs. Refer to the reconciliation of GAAP to non-GAAP measures in the Appendix.
Slide 13: Guidance
Guidance. Given on November 6, 2025 (in millions, except for EPS) Q4 2025 Full Year 2025 Cloud Subscriptions Revenue $115.0 – $117.0 $435.0 – $437.0 Cloud Subscriptions Revenue Growth YoY 16% – 18% 18% – 19% Total Revenue $187.0 – $191.0 $711.0 – $715.0 Total Revenue Increase YoY 12% – 15% 15% – 16%
Slide 14: Appendix
Appendix
Slide 15: Balance Sheet
Balance Sheet. As of $ in thousands September 30, 2025 December 31, 2024 Assets (unaudited) Cash and cash equivalents $ 125,249 $ 118,552 Short-term investments and marketable securities 66,312 41,308 Accounts receivable, net of allowance 172,615 195,069 Deferred commissions, current 34,131 36,630 P
Slide 16: Income Statement
Income Statement. Three months ended September 30, Nine months ended September 30, $ in thousands, except for per share data 2025 2024 2025 2024 (unaudited) Revenue Cloud subscriptions $ 113,596 $ 94,075 $ 320,337 $ 269,106 Term license subscriptions 24,812 21,265 69,429 62,263 Maintenance and suppo
Slide 17: Stock-Based Compensation Expense
Stock-Based Compensation Expense. Three months ended September 30, Nine months ended September 30, $ in thousands 2025 2024 2025 2024 (unaudited) Cost of revenue Subscriptions $ 224 $ 211 $ 672 $ 641 Professional services 1,399 1,325 4,161 4,364 Operating expenses Sales and marketing 1,827 1,746 6,0
Slide 18: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Impairment Unrealized and Lease- Short-Swing Foreign GAAP Stock-Based Litigation JPI Related Profit Exchange Rate Non-GAAP Measure Compensation Expense Amortization Charges Payment Gains and Losses Measure Three months ende
Slide 19: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Unrealized Impairment Foreign and Lease- Short-Swing Exchange Rate GAAP Stock-Based Litigation JPI Severance Related Profit Gains and Non-GAAP Measure Compensation Expense Amortization Costs Charges Payment Losses Measure N
Slide 20: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Reconciliation of adjusted EBITDA: GAAP net income (loss) $ 7,825 $ (2,100) $ 6,336 $ (78,615) Other income, net (1,398) (12,544) (24,678) (5,88
Slide 21: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. The following table reconciles our GAAP gross margin percentage to our non-GAAP gross margin percentage for our overall, subscriptions, and professional services margins. The non-GAAP adjustment represents adding back the margin impact of stock- based com
Slide 22: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. The following table reconciles our GAAP sales and marketing expense to our non-GAAP sales and marketing expense. The non- GAAP adjustment represents adding back the impact of stock-based compensation expense and severance costs recorded to "Sales and mark
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