0001583708-25-000148
SEC filing营收增长22%但净亏损扩大，APA税务拨备拖累盈利。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $242.2M | $198.9M | +22% |
| Gross Profit | $181.7M | $148.2M | +23% |
| Gross Margin | 75% | 75% | 0 bps |
| Operating Income | -$80.6M | -$79.4M | -2% |
| Operating Margin | -33% | -40% | +700 bps |
| Net Income | -$72.0M | -$69.2M | -4% |
| Diluted EPS | -$0.22 | -$0.22 | 0% |
| Operating Cash Flow | $51.2M | $44.3M | +16% |
| Free Cash Flow | $38.7M | $29.8M | +30% |
营收增长22%至$242.2M，主要受新客户获取和现有客户扩展驱动。ARR达$1.0B，同比增长24%，显示增长动能强劲。毛利率维持在75%，成本增长（+19%）低于营收增速，体现经营杠杆。
GAAP净亏损扩大至$72.0M，主要因APA事项计提$136.0M税务拨备，剔除该一次性影响后，Non-GAAP operating income转正至$5.4M，显示核心盈利能力改善。经营现金流$51.2M，同比增长16%，现金储备充裕。
公司为单一报告分部，未披露分部数据。
| 项目 | 本期 | 上期/变化 |
|---|---|---|
| Cash & ST investments | $810.8M | +$88.9M |
| Total Debt | $0 | — |
| Deferred Revenue | $546.8M | -$25.3M |
| Operating Cash Flow | $51.2M | +$6.9M |
| Capex | $13.0M | -$2.9M |
| Free Cash Flow | $38.7M | +$8.9M |