Ronen Samuel

“The second quarter marked another important step in Cornet's transformation. We delivered revenue of $55.3 million above the high end of our guidance, generate positive adjusted EBITDA also above the high end of our guidance range, and positive operating cash flow for the 11th consecutive quarter.”

“Q1 was a strong start to the year and a clear proof point that our strategy is translating into execution and measurable results.”

“Before I begin, I want to briefly welcome Asaf, who recently joined as a CFO, and Andy, who returned to Corny to lead our capital marketing activities. Let me turn directly to our business performance.”

“This quarter, we delivered results above the midpoint of our guidance range with revenues of $53.1 million, representing 5% growth year-over-year. When including deals under our All-Inclusive Click (AIC) model, which are recognized over time, underlying business activity was even stronger this quarter.”

“We delivered second-quarter revenues of approximately $49.8 million within our guidance range but below the midpoint. Gross margin was 46.3% and adjusted EBITDA margin came in at negative 2.3%.”