Slide 1: Q2 2025 Earnings Call Presentation
Q1 Q2 2025 2025 Earnings Earnings Call Call Presentation Presentation Matt MattCalkins, Calkins,Founder 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: Q2 2025 Highlights
Q2 2025 Highlights. Profitability • Q2 2025 adjusted EBITDA was $8.1 million. Revenue • Cloud subscriptions revenue was $106.9 million in Q2 2025 (+21% Y/Y) • Subscriptions revenue was $132.7 million in Q2 2025 (+17% Y/Y) • Total revenue was $170.6 million in Q2 2025 (+17% Y/Y) Retention • Cloud sub
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: AI works best inside a Process
AI works best Launch AI in process with just a few clicks. inside a Process Process gives AI a goal, Process provides the a team, a flow of work, tools and infrastructure exception handling, required to scale AI usage. human oversight, and escalation paths. Process provides Process tracks every acce
Slide 6: 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% 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
Slide 7: Annualized Recurring Revenue ("ARR")
Annualized Recurring Revenue ("ARR"). 7
Slide 8: Total Revenue
Total Revenue.* 8 * Reported in millions. Totals may not foot due to rounding.
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: Q2 2025 Summary
Q2 2025 Summary. Cloud Subscriptions Revenue (USD, in millions) Retention As of June 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 August 7, 2025 (in millions, except for EPS) Q3 2025 Full Year 2025 Cloud Subscriptions Revenue $109.0 – $111.0 $429.0 – $433.0 Cloud Subscriptions Revenue Growth YoY 16% – 18% 17% – 18% Total Revenue $172.0 – $176.0 $695.0 – $703.0 Total Revenue Increase YoY 12% – 14% 13% – 14% A
Slide 14: Appendix
Appendix
Slide 15: Balance Sheet
Balance Sheet. As of $ in thousands June 30, 2025 December 31, 2024 Assets (unaudited) Cash and cash equivalents $ 112,207 $ 118,552 Short-term investments and marketable securities 72,546 41,308 Accounts receivable, net of allowance 151,202 195,069 Deferred commissions, current 34,577 36,630 Prepai
Slide 16: Income Statement
Income Statement. Three months ended June 30, Six months ended June 30, $ in thousands, except for per share data 2025 2024 2025 2024 (unaudited) Revenue Cloud subscriptions $ 106,915 $ 88,428 $ 206,741 $ 175,031 Term license subscriptions 17,703 17,227 44,617 40,998 Maintenance and support 8,039 7,
Slide 17: Stock-Based Compensation Expense
Stock-Based Compensation Expense. Three months ended June 30, Six months ended June 30, $ in thousands 2025 2024 2025 2024 (unaudited) Cost of revenue Subscriptions $ 205 $ 217 $ 448 $ 430 Professional services 1,355 1,461 2,762 3,039 Operating expenses Sales and marketing 2,035 1,997 4,223 4,524 Re
Slide 18: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Impairment Unrealized and Lease- Foreign Exchange GAAP Stock-Based Litigation JPI Severance Related Rate Gains and Non-GAAP Measure Compensation Expense Amortization Costs Charges Losses Measure Three Months Ended June 30,
Slide 19: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Impairment Unrealized and Lease- Foreign Exchange GAAP Stock-Based Litigation JPI Severance Related Rate Gains and Non-GAAP Measure Compensation Expense Amortization Costs Charges Losses Measure Six Months Ended June 30, 20
Slide 20: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Reconciliation of adjusted EBITDA: GAAP net loss $ (312) $ (43,592) $ (1,489) $ (76,515) Other (income) expense, net (17,564) (1,545) (23,280) 6,662 Intere
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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