Overview
- Revenue rose 68% year over year to $42.05 million, topping estimates, with a non-GAAP loss of $0.03 per share and an adjusted EBITDA loss of $14.5 million.
- Full-year 2025 revenue outlook increased to $165 million to $180 million, up from prior guidance of $160 million to $178 million.
- GAAP net loss reached about $109.3 million, largely reflecting $66 million in acquisition-related, non-cash earnout revaluations linked to stock movements.
- The company ended the quarter with $269 million in cash and cash equivalents and reported no debt.
- Shares fell roughly 9% after the report then steadied Friday, as Piper Sandler kept a Neutral rating and raised its price target to $15.