Q4 2024 Earnings Summary
Metric | YoY Change | Reason |
---|---|---|
Total Revenue (Q3 2023) | -6.6% (from $4.4M to $4.1M) | Transition to subscription recognized over time and sales force reduction lowered sales; economic headwinds also impacted results. |
Product Revenue (Q3 2023) | -13.3% (from $2.5M to $2.2M) | Subscription transition and competition reduced upfront license sales, resulting in a decline in product revenue. |
Total Revenue (Q3 2024) | +3.5% (from $4.1M to $4.2M) | Increased product revenue from the subscription and cloud model more than offset the decline in services. |
Product Revenue (Q3 2024) | +14.1% (from $2.2M to $2.5M) | Growing demand for subscription licenses spurred product sales, demonstrating the success of the new revenue model. |
Services Revenue (Q3 2024) | -8.9% (from $1.9M to $1.7M) | Customer migration from service contracts to subscription contributed to the services decline. |
Total Revenue (Q4 2024) | >220% (from $1.58M to $5.1–$5.3M) | Continued expansion of the subscription model and a strong sales pipeline drove a substantial revenue jump, reflecting broader market recovery. |