Slide 1: Q2 2026 Earnings Call Presentation
Q1 Q2 2025 Earnings Call 2026 Earnings Call Presentation Presentation Matt Calkins, Founder & CEO Matt Calkins, CEO Mark Lynch, Interim CFO Serge Tanjga, 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 2026 Highlights
Q2 2026 Highlights. Revenue • Cloud subscriptions revenue was $131.7 million in Q2 2026 (+23% Y/Y) • Subscriptions revenue was $157.7 million in Q2 2026 (+19% Y/Y) • Total revenue was $203.3 million in Q2 2026 (+19% Y/Y) Non-GAAP Gross Margins* • Subscriptions gross margin was 84%. • Professional se
Slide 4: GTM Productivity
GTM Productivity. 4.0 3.43 3.5 3.0 2.58 2.5 2.0 1.5 1.0 0.5 0.0 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 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 s
Slide 5: Total Revenue
Total Revenue.* 202.9 202.2 203.3 $200.0 million 187.0 40.6 41.9 45.6 170.6 39.8 $150.0 million 38.0 26.0 45.2 35.8 33.6 25.7 $100.0 million 124.5 131.7 106.9 113.6 117.0 $50.0 million Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Cloud Subscriptions Revenue Other Subscriptions Revenue Professional Servic
Slide 6: Constant Currency Revenue Growth Rates
Constant Currency Revenue Growth Rates. Cloud Revenue Subscriptions Revenue Total Revenue 22% 21% 21% 20% 20% 19% 19% 18% 18% 18% 18% 18% 18% 18% 17% 17% 16% 16% 16% 15% 15% 15% 14% 14% 14% 12% 11% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 '24 '24 '24 '25 '25 '
Slide 7: Cloud Net ARR Expansion
Cloud Net ARR Expansion. 125% 114% 114% 114% 115% 115% 113% 112% 113% 112% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 To calculate this metric, we first define ARR on a customer level as monthly recurring cloud subscriptions revenue multiplied by 12. Next, we identify al
Slide 8: Non-GAAP Gross Margins
Non-GAAP Gross Margins.* Subscriptions Professional Services Overall 85% 86% 86% 86% 84% 72% 74% 73% 74% 72% 29% 31% 29% 31% 23% Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 2025 2025 2025 2026 2026 2025 2025 2025 2026 2026 2025 2025 2025 2026 2026 * Data excludes stock-based compensation expense an
Slide 9: Guidance
Guidance. Given on August 6, 2026 (in millions, except for EPS) Q3 2026 Full Year 2026 Cloud Subscriptions Revenue $133.0 – $135.0 $525.0 – $529.0 Cloud Subscriptions Revenue Growth YoY 17% – 19% 20% – 21% Total Revenue $214.0 – $218.0 $845.0 – $853.0 Total Revenue Increase YoY 14% – 17% 16% – 17% A
Slide 10: Multi-Pronged Growth Algorithm
Multi-Pronged Growth Algorithm. Adjusted Non-GAAP Revenue EBITDA EPS 2026 $849M $107M $1.08 Y/Y Growth 17% < 39% < 77% 200 bps margin De-levering expansion + buybacks 10
Slide 11: Appendix
Appendix
Slide 12: Balance Sheet
Balance Sheet. As of $ in thousands June 30, 2026 December 31, 2025 Assets (unaudited) Cash and cash equivalents $ 121,111 $ 135,810 Short-term investments and marketable securities 46,755 51,415 Accounts receivable, net of allowance 171,162 255,063 Deferred commissions 105,402 100,365 Property and
Slide 13: Income Statement
Income Statement. Three months ended June 30, Six months ended June 30, $ in thousands, except for per share data 2026 2025 2026 2025 (unaudited) Revenue Cloud subscriptions $ 131,667 $ 106,915 $ 256,178 $ 206,741 Other subscriptions 26,015 25,742 61,815 60,268 Total subscriptions revenue 157,682 13
Slide 14: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Unrealized Impairment Foreign and Lease- Exchange GAAP Stock-Based Litigation JPI Related Rate Gains Non-GAAP Measure Compensation Expense Amortization Charges and Losses Measure Three Months Ended June 30, 2026 Subscriptio
Slide 15: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Unrealized Impairment Foreign and Lease- Exchange GAAP Stock-Based Litigation JPI Related Rate Gains Non-GAAP Measure Compensation Expense Amortization Charges and Losses Measure Three Months Ended June 30, 2025 Subscriptio
Slide 16: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Unrealized Impairment Foreign and Lease- Exchange GAAP Stock-Based Litigation JPI Related Rate Gains Non-GAAP Measure Compensation Expense Amortization Charges and Losses Measure Six months ended June 30, 2026 Subscriptions
Slide 17: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures. unaudited, $ in thousands Lease Unrealized Impairment Foreign and Lease- Exchange GAAP Stock-Based Litigation JPI Related Rate Gains Non-GAAP Measure Compensation Expense Amortization Charges and Losses Measure Six months ended June 30, 2025 Subscriptions
Slide 18: 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, 2026 2025 2026 2025 Reconciliation of adjusted EBITDA: GAAP net loss $ (11,817) $ (312) $ (13,342) $ (1,489) Other expense (income), net 827 (17,564) 743 (23,280) Interest exp
Slide 19: 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 20: 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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