Total Revenue

Q1 2025: $624.7M, 1% decrease from Q1 2024’s $631.3M

Total Revenue fell slightly by 1% due to factors including upsell weakness, churn in Teams plans, and a strategic reduction in investment in FormSwift, compounded by adverse foreign exchange effects compared to the previous period. " " " "

Regional Revenue (U.S.)

Q1 2025: $356.4M vs Q1 2024: $358.3M (minor decline)

U.S. revenue experienced a small decline that mirrors the overall total revenue trend, likely reflecting the same underlying challenges in upselling and customer churn seen in the total revenue performance. " "

Regional Revenue (International)

Q1 2025: $268.3M vs Q1 2024: $273.0M (minor decline)

International revenue saw a similarly modest decline aligned with overall revenue pressures, although specific drivers are not detailed, it is reasonable to infer that global market dynamics and similar product mix challenges contributed as in the U.S. segment. " "

Operating Income

Increased approximately 28% from $143.5M in Q1 2024 to $183.8M in Q1 2025

Operating Income improved significantly by 28% YoY thanks to substantial operating efficiencies and cost controls, as total operating expenses were reduced notably in Q1 2025 relative to Q1 2024. " " This improvement highlights the impact of expense management initiatives compared to previous periods.

Net Income

Increased approximately 13.5% from $132.3M in Q1 2024 to $150.3M in Q1 2025

Net Income improved by 13.5% YoY reflecting the benefits of enhanced operating performance and cost reductions, building on the improved efficiency measures that drove a better operating income compared to the previous year. " "

Total Operating Expenses

Decreased by about 15% from $382.0M in Q1 2024 to $324.2M in Q1 2025

Total Operating Expenses dropped 15% YoY due to lower workforce-related costs (including severance and benefits from a 2024 reduction initiative), reduced research and development as well as lower sales and marketing expenses, particularly in stock-based compensation, when compared to Q1 2024. " "

Cash and Cash Equivalents

Decreased significantly from $1,328.3M (Q4 2024) to $942.2M (Q1 2025)

Cash and Cash Equivalents fell notably as a result of multiple factors: a decrease in short-term investments, financing changes including the recognition of a current portion of convertible senior notes amounting to $693.8M, and cash outflows possibly related to workforce reduction costs, in contrast to the previous period’s balance. " " "