Thank you, Rick.
our to ended for XXXX. XX, financial Turning results first quarter the March
Our in XX% first total to from QX $X increased year. last $X.X million the quarter in revenue million of
Our $X.X last marketing flagship by automation XX% to year. compared SharpSpring million million to solution $X.X grew
from in of XX% the million margin increased gross million XX% Our to XXXX year. from last first to $X.X year. increased terms, XX% in In dollar of quarter last profit QX $X.X gross
support the few years, to future growth our product. current invested we our of and the organization and past infrastructure hosting Over reinforce in have
continuing in move are platform. continue to we our onto which some see to model more created add has our expansion to we the As quarter, as margin leverage future, onto and expect more gross I improved mentioned last the In through we revenues layer revenues margins. operating platform, forward
XXXX with expect and XX% QX upward QX gradually about XXXX. gross by the in We consistent to end during then margins trend of to be
operating expenses. to Turning our
QX $X.X initiatives. XXXX, million year. operating in For sales increased of $X.X was the to primarily expenses marketing investments to first million quarter in of due The from increase our last increased XX% and
per operations $X.X for from operations continuing QX was or of per a GAAP loss of loss an the net million $X.XX first $X.XX totaled net GAAP increase loss from XXXX. in quarter or share. share $X.X Our continuing million from This
that current for offering are participate about of a able at a notes notes managed was standpoint, $X.XX, investment deal convertible to growth major which of premium From we the end an also the a extend notes. institutional the our with X% to the have due our minimizing quarter. capital The of the million the ahead to quarter represent existing On five the had company up to stock convertible more who XX% to the investors. The notes investors, The years, at compared for by prior compared at sheet, $X a in we million $X.X end were was in mature cash convertible paid form million of while to position raise we the in shareholders. be sophisticated the the significant by a when months ability in invest notes will the coupon group negotiated. notes price is There XX dilution of maturity. $XX.X at is increase cash additional The balance us. upside wanted to group in in but our and of
information the middle X-K our of Investor in the million year. cash, $X.X of more based SEC. website on of are with on press well the related this cash filed during a transaction, Relations also tax For we NOL assessment, refund to as the amount expecting the use as one other current And regarding related consult related carrybacks release the our to note please this associated Form
of EBITDA period. acquisition-related EBITDA earnings stock-based Looking for at depreciation, in totaled our the same noncash an $X.XX taxes, which non-GAAP $X.X million. amortizations, measures, and before year-ago intangible expenses, compares we million as restructuring interest, quarter, impairments our This compensation, charges adjusted the defined loss loss adjusted to
launch drive our features development growth invest new to to new team develop marketing the programs sales and and designed We platform. and continued invest continue on in in to
expenses core XXXX the in costs, of year. loss million net expenses which of taxes while a from Our of quarter core QX $X.X per loss, $X.XX compensation loss million net core share $X.X adjusting last excludes net $X.XX amortization, share, for per an loss net acquisition-related increase for core and first totaled stock or restructuring or
today's in more and on tables net our the supplementary metrics, For adjusted included income GAAP the details core of earnings reconciliation see release. please terms EBITDA to
Moving metrics. on to SaaS our
our customer from to timing QX, acquisition new come compared when periods During increased sales prior and due spend marketing in. to costs
cost, acquisition $X,XXX time experience. and provides account line cost a QX. As prior for is for resulting XXXX, new marketing QX calculation of our costs of all the of better acquisition customer average of sum reminder, some costs in our of QX acquisition XXXX reported QX marketing from a of the Using cost sales customer divided our and by of wins customer the we the from of estimate of quarter for to sales XXXX
larger quarters. measurement has the deals still on when one we However, is in quarter occurred quarters. dynamic larger spend because many this in have we marketing has shifts few calculation spending, imperfect, our a over impacts This win in which past sales marketing our impact the and future
While in we and that business the experience will consistently do we rates acquire from cost customers at quarter-to-quarter, can deliver confident for win future. this normalize all metric fluctuations around attractive we lifetime in $X,XXX significant are the acquisition that value our will customer a that
Moving on to attrition.
to from a saw our expansion offset added -- we we to revenues than net attrition that attrition in That is QX, expansion During probably experienced. customers revenue significant our revenue due actually the functionality, the retention, net over we say platform with that revenues our continuing the from experienced the new customers customer logo more net charges lost associated quarter. improvement from
$XX,XXX expect continues dataset, discounted Going back to on we customer agency margin support cost on all XXXX. for basis the before to of of forward, our call on we metric Based customers Rick. for customer discuss the lifetime gross approximately approximately to Based customers for revenue this after value a expect the attrition expected take and basis. historical also minute reducing cost to these like of the two These acquisition on to reflect X% housekeeping be to on I'd new value $XX,XXX company over a a customers net compelling. the blended items turning around to hover these the values be figures, our customers platform. remainder to ratio benefit the for lifetime
we a feel years XXXX. about and First, an place flexibility practice. provides of term extension XX, X the having in March management We existing secured facility credit good increasing facility credit follows that our to
recently XXXX. additional new results. new near in progress we a when our well to office space office will like additional now the my staff rest Gainesville. Rick, us the in signed to provide complete outlook QX. call over the into will a future to as help our Rick? financial of as summary. this build to insights headquarters completes move our lease for talented back and This out for the to building individuals for into the This start Second, We're excited drive recruit is new growing construction us space I'd turn operational QX for of company