Question · Q2 2025
Asked for clarification on financial metrics like deferred revenue and ARR, and sought details on the status, revenue recognition, and financial impact of major partnerships, including the Prove deal, a large Indian contract, and the new NEC/IDX deal. He also questioned the company's confidence in its $18M bookings guidance and the completion of its software platform overhaul.
Answer
The company confirmed the $1.2M in deferred revenue is from recurring contracts and will be recognized in coming quarters, making the $5.8M ARR figure accurate. The Prove partnership has two parts: a simple integration for onboarding that is about to go live with a joint customer (revenue expected in Q3), and a more strategic, deeper integration that is still in progress. For the Indian contract, they have gone live and started recognizing revenue, and they expect to recognize the full $3.3M commitment within the first contract year (mostly in H2 2025). They could not provide financial forecasts for the new NEC/IDX deal yet. They reaffirmed their $18M bookings guidance for 2025 and confirmed the major software overhaul is complete, allowing them to win deals, though normal R&D and improvements continue.