I am pleased to report a great first 2014 quarter.
Thanks to a high number of inbound leads, stable conversion rates throughout our funnel, and shorter sales cycles:
- Our subscription bookings went up 136% Y/Y
- Our new Annual Recurring Revenue (ARR) went up by 238% Y/Y
During the same period, our total cost of sales worldwide went down by 73% Y/Y, which resulted in an 89% decrease of our Customer Acquisition Cost (CAC).
This high growth did not affect our Annual Customer Value (ACV) and our Life Time Value (LTV), which both remained unchanged.
Even though revenue recognition impact of new bookings is delayed, our 2014 Q1 EBITDA improved by 27% Y/Y.
For Q2, we expect this trend to continue with a three-figure growth rate for new annual recurring revenue.
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