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New words:
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Financial report summary
?Management Discussion
- The results of operations presented below should be reviewed in conjunction with the condensed consolidated interim financial statements and notes included elsewhere in this Quarterly Report on Form 10-Q.
- Total revenue was $48.1 million for the three months ended March 31, 2024 compared to $41.0 million for the three months ended March 31, 2023, representing an increase of $7.1 million, or 17.3%.
- Platform subscriptions revenues increased by $6.7 million, or 17.6%, from $38.0 million for the three months ended March 31, 2023 to $44.7 million for the three months ended March 31, 2024. The increase was primarily comprised of $5.0 million related to upsell and increased users within existing contracts along with increased new client revenue of $3.9 million. In addition, revenue increased by $1.6 million reflecting the full-period impact of contracts signed in prior periods. Increases and upsells were offset by client churn of $3.0 million and downgrades of $1.3 million, respectively. Price changes did not materially impact period-over-period growth.