Total revenue reaches $14.7 million in the first quarter, an increase of 37% year over yearAnnual Recurring Revenue (ARR)1 at March 31, 2025, reaches $63.5 million, an increase of 51% year over yearGross profit and operating expense grow 38% and 21% respectively year over year as progress toward profitability continues "Kneat is off to a solid start in 2025, both in terms of continued strong growth and progress toward profitability. We are encouraged by our customers’ continued intention to orchestrate their validation processes enterprise-wide; and we are committed to enhancing the Kneat Gx platform to help them complete their vision for efficiency, speed and trust in their validation processes.” - Eddie Ryan, Chief Executive Officer of Kneat. Q1 2025 Highlights Total revenues increased 37% to $14.7 million in the first quarter of 2025, compared to $10.8 million for the first quarter of 2024. SaaS revenue for the first quarter of 2025 grew 42% to $13.8 million, versus $9.7 million for the first quarter of 2024.
For further information: Katie Keita, Kneat Investor RelationsP: + 1 902-706-9074E: katie.keita@kneat.com Unaudited Condensed Interim Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) Three-monthperiod endedMarch 31, 2025 Three-monthperiod endedMarch 31, 2024 $ $ Revenue SaaS license fees 13,805,973 9,718,501 Maintenance fees 22,095 70,589 Professional services and other 919,573 977,910 Total Revenue 14,747,641 10,767,000 Cost of revenue (3,823,145) (2,834,015)Gross profit 10,924,496 7,932,985 Gross margin 74% 74% Expenses Research and development (4,698,665) (4,045,548)Sales and marketing (5,116,477) (4,031,684)General and administrative (2,511,629) (2,105,589)Total Expenses (12,326,771) (10,182,821) Operating loss (1,402,275) (2,249,836) Finance expense (888,545) (867,451)Interest income 198,639 35,076 Foreign exchange gain (loss) 4,262,600 (238,763)Income (loss) before income taxes 2,170,419 (3,320,974)Income tax expense (24,430) (15,887)Net income (loss) for the period 2,145,989 (3,336,861) Other comprehensive (loss) income Foreign currency translation adjustment to presentation currency (1,998,521) 190,894 Comprehensive income (loss) for the period 147,468 (3,145,967)Earnings (loss) per share: Basic and diluted 0.02 (0.04) Weighted-average number of common shares outstanding: Basic 94,221,072 81,005,029 Diluted 97,738,261 81,005,029 Reconciliation: Net income (loss) for the period 2,145,989 (3,336,861)Finance expense 888,545 867,451 Interest income (198,639) (35,076)Income tax expense 24,430 15,887 Depreciation charge 177,001 191,221 Amortization of intangible assets charge 2,846,747 1,834,211 EBITDA 5,884,073 (463,167) Adjustments to EBITDA Foreign exchange gain/loss (4,262,600) 238,763 Stock based compensation 697,019 812,173 Adjusted EBITDA 2,318,492 587,769 kneat.com, inc.
Our high-retention customer base continues to grow, and we remain confident in our financial outlook.” - Hugh Kavanagh, Chief Financial Officer of Kneat. Quarterly Conference Call Eddie Ryan, Chief Executive Officer of Kneat, and Hugh Kavanagh, Chief Financial Officer of Kneat, will host a conference call to discuss Kneat’s first quarter of 2025 results and hold a Q&A session for analysts and investors via webcast on May 08, 2025, at 9:00 a.m.ET.
The story "Kneat Announces Record Revenue for First Quarter 2025" has 1209 words across 36 sentences, which will take approximately 6 - 11 minutes for the average person to read.
Which news outlet covered this story?
The story "Kneat Announces Record Revenue for First Quarter 2025" was covered 2 days ago by GlobeNewswire, a news publisher based in China.
How trustworthy is 'GlobeNewswire' news outlet?
GlobeNewswire is a fully independent (privately-owned) news outlet established in 1998 that covers mostly technology news.
The outlet is headquartered in China and publishes an average of 27 news stories per day.
It's most recent story was published 13 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
