Shares jumped 24.3% following Q2 results that beat revenue and operating profit expectations, driven by record net new ARR, improved retention, and large multiyear enterprise contracts anchored by growing AI demand.
- Revenue rose 9% year-over-year to $77.2 million, exceeding the top end of guidance.
- Positive GAAP operating profit delivered for the first time, alongside non-GAAP operating profit above expectations.
- Net new annual recurring revenue (ARR) hit a company record, with net revenue retention (NRR) of 100% overall and 107% for customers above $100,000 ARR.
- AI-related revenue increased to 13% of total revenue, supporting expansion into a growing AI-driven market.
- Signed 3 large multiyear enterprise contracts totaling over $60 million in contract value, signaling success in moving upmarket and deepening enterprise penetration.
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