Bookings and Contract Value Momentum
Q1 bookings were $1.4M (up 12.5% YoY from $1.25M in Q1 2025). The company closed three enterprise deals with ~ $5M total contract value (3-year terms), demonstrating multiyear commitments and stronger pipeline conversion.
Net Revenue Retention Improvement
NRR improved to 98% in Q1, up 12 percentage points YoY from 86% in Q1 2025, indicating strong retention and expansion within the existing customer base.
Strategic Partnerships and Analyst Recognition
Announced deep product partnership with Google Cloud (embedded Looker integration and access to Google data/AI stack) and was recognized by Gartner as a visionary in the new Enterprise Workplace Magic Quadrant, providing sales 'air cover' and validation.
Product Roadmap and Agentic AI Traction
CXAI 2.0 (agentic AI operating layer) is on schedule for a June rollout; five CXAI Sandbox deployments are live in production. Management reports customers are adopting 2.0 day-1 and that the platform is driving RFP wins.
Recurring Revenue Mix and Commercial Model
Subscription revenue mix improved to 98% of total revenue (from 96% in Q4), reflecting a highly recurring revenue base and a monetization model geared toward AI consumption, analytics and integrations.
R&D and Product Investment
Over 70% of headcount is in R&D and Q1 R&D spend remained stable at ~$1.5M, signaling continued investment in product differentiation and IP (provisional patents filed for agentic features).
Improved Cash Position and EPS Progress
Cash balance increased to $12.3M from $11.1M at Q4 end. GAAP EPS loss improved to negative $0.08 from negative $0.13 in Q4 — a 38% improvement — reflecting operating leverage and expense normalization.
Operational Outperformance vs Internal Plan
The company beat its internal bookings forecast by 19%, citing improved conversion driven by targeted GTM, Google partnership, and Gartner recognition.
Mid-Market & Channel Expansion
Launched CXAI (Sky) pilot for mid-market with plans to list on Google Marketplace and AWS Marketplace in the quarter, providing a channel-led, rapid-deployment growth vector beyond large enterprise sales.