Content analysis
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H.S. senior Good
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New words:
AI, argued, artificial, attrition, content, deployment, disaggregating, entirety, forego, Forfeited, handle, ineffective, intelligence, invoicing, lifting, opposition, Overview, pertaining, pose, reconciliation, refinanced, remote, revolving, segment, trailing, unintended, user, workforce
Removed:
account, accused, addback, Administration, administrator, alleviate, announcement, applying, bear, Benchmark, bill, burden, buy, calculation, Codification, Deferral, disrupted, drop, exclusively, expedient, Facilitation, ICE, initiating, IRA, Las, lingering, modifying, outbreak, publication, quarantined, reform, retired, selected, serving, subsequently, Sunset, sustained, temporary, translated, unpredictable
Financial report summary
?Management Discussion
- (1)Includes the portion of costs for IT, security services and facilities costs that are allocated to cost of revenue. In our Unaudited Condensed Consolidated Financial Statements, the total of such costs is allocated between cost of revenue, sales and marketing, and general and administrative expenses, based primarily on relative headcount, except for facilities which is based on occupancy.
- Revenue. Revenue increased from $105.5 million for the three months ended March 31, 2023 to $106.7 million for the three months ended March 31, 2024, an increase of $1.2 million or 1%. The increase was driven by an 2% increase in the average number of unique clients from 1,509 for the three months ended March 31, 2023 to 1,535 for the three months ended March 31, 2024. On a geographic basis, United States revenue grew from $53.4 million for the three months ended March 31, 2023 to $53.8 million for the three months ended March 31, 2024, an increase of $0.4 million or 1%. Our international revenue grew from $52.1 million for the three months ended March 31, 2023 to $52.9 million for the three months ended March 31, 2024, an increase of $0.9 million or 2%.
- Cost of revenue. Cost of revenue increased from $39.3 million for the three months ended March 31, 2023 to $42.9 million for the three months ended March 31, 2024, an increase of $3.6 million or 9%. The key drivers related to the cost of revenue increase were a $2.6 million increase in employee compensation and benefits to support an average headcount increase of 22%, a $0.3 million increase in administrative allocations and a $0.8 million increase in all other costs. These cost increases were offset by a $0.2 million decrease in engineering consulting costs.