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| Statement |
|---|
| Customer satisfaction remains high, and we are proud of the trust and confidence our many existing and new customers place in us, for their communication needs |
| If you focus on the expansion of the gross margin, which is reaching a sizable 26% in this quarter, this is I would say witnessing the effectiveness of our policy |
| We continue to show resilience consistently growing our top-line year-over-year with a focus on our higher-margin businesses and importantly generating positive EBITDA and adjusted EBITDA |
| Our customer base remains strong, with returning zero churn with our top 10 customers, which accounted for approximately 45% of revenues during the first quarter |
| As a result, gross margin grew 19% in the first quarter to a record 25.2% |
| This is very much a fragmented market with only a few global players which is why our partnership with over 1,600 operators and direct connectivity in over 100 countries is an advantage to our enterprise customers that can use Kaleyra as a single source to leverage their global needs |
| This launch accelerates innovation in our space and further capitalize on our strong partnership with Oracle driving the future of business communications and customer engagement |
| We continue to grow and solidify our leadership role in the CPaaS ecosystem, extending beyond traditional SMS messaging, enhancing our engagement with our customer base across various industry verticals, creating value for all of our constituents |
| Our value creation project efforts are producing solid results, as reflected in the gross margin and the EBITDA improvement in the quarter, and we continue to grow our revenue in line with expectations |
| In summary we had a very good quarter and we are pleased with our top line results, our record margins and adjusted gross profit |
| To finish this portion of the call, I'm very proud of our first quarter performance |
| Kaleyra is pushing a policy to expand the gross profit and expand the gross margin |
| Notably the most importantly, the first quarter of 2023, produced the first quarter of positive EBITDA since first quarter of 2021, a clear testimonial of the company's successful deployment of the cost reduction we launched in the fourth quarter of 2022 |
| As I stated during our fourth quarter earnings call, we are very focused on improving gross margin through reducing costs, driving efficiency and balancing our product mix toward higher-margin delivery channels |
| It keeps on growing and it's very satisfactory I would say |
| We have a global revenue footprint and a well-balanced portfolio across geographies and in the industry sectors |
| The program seeks to achieve the following goals: one, adjusted EBITDA to exceed the 20% growth in fiscal year 2023 compared to fiscal year 2022 with additional growth in fiscal year 2024; two, organizations streamlined and to reduce monthly cash payroll cost by more than 15% in fiscal year 2023; three, increase in net cash provided by operating activities by fiscal year 2023 year-end compared to fiscal year 2022; fourth, continue to focus on R&D investment to always provide a quality service standards and offer new products to our customers |
| I guess really nice quarter here |
| Gross margin for the first quarter of 2020 was 25.2% compared to 22% over the first quarter of 2022, an increase of 19% and up 23.9% on a sequential quarterly basis |
| Gross profit for the first quarter of 2023 was $21.1 million, a 19% increase when compared to $ 17.7 million for the first quarter of 2022 mainly driven by the improved product and geographic mix |
| As Dario noted, our total revenue in the first quarter was $83.6 million, an increase of $3.1 million versus $80.5 million in the comparable year ago period, and again above the previous provided guidance |
| As we continue to focus on investing in ways to layer in our high-growth channels to existing customers, maintaining success winning new customers and consistently expanding our operating footprint, we can expect to keep our new momentum |
| We expect the company to continue to grow revenue in 2023 when compared to 2022 |
| The decrease in net loss period over period is mainly driven by higher gross margins, and cost of savings generated through our value creation projects initiatives, outlined in last quarter |
| The first quarter which has historically been softer due to seasonality produced growth of 4% resulting in revenue of $83.6 million exceeding the upper end of our previously stated guidance range of $81 million |
| At Kaleyra, we are committed to providing high-quality trusted and transparent service, with a focus on customer satisfaction |
| And as we have previously stated is designed to position Kaleyra to serve the demand from global businesses to interact with their customer base, using existing and emerging communication channels while driving labor and cost efficiency by leveraging our global scale |
| On a constant currency basis, Q1 2023 revenue was $85.7 million, an increase of 6% over Q1 2022 |
| Adjusted gross profit and non-GAAP measure of operating performance increased $2.4 million in the first quarter to $21.8 million, when compared to $19.3 million in the first quarter the prior year |
| In general, our seasonality is more favorable in the second half |
| Statement |
|---|
| Sorry to hear about Colin, that's very unfortunate |
| While only with the company for a brief period Colin was an impactful contributor to Kaleyra and we will miss him deeply |
| Q1 net loss totaled $10 million or $0.76 per share based on 13 million weighted average share outstanding compared to a net loss of 13.2 million or $1.09 per share based on 12.1 million weighted average shares outstanding, in the comparable year ago period |
| Before we get into the quarterly results, I want to take a minute and update our investment community with some very unfortunate news |
| Unfortunately, a few weeks ago we lost Colin Gillis who joined us last June as our Head of Investor Relations |
| So Q1 and Q2 are low seasonality for us compared to Q3 and Q4 |
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