Aug. 21 at 3:14 PM
$CLBT and the recovery 1/3
BUSINESS QUALITY
- Non-GAAP gross margin 85.5%; GAAP gross margin 80.8%
- Net dollar-based retention 117%, up 2 pts over Q1
- More than 90% of ARR from public-sector customers (sticky, budget-backed)
- Around 75% of federal obligations not openly competed; typically renew with incumbent
GROWTH
- ARR
$507.8M, up 21% YoY; revenue up 16%
- Growth products (Manage, AI, Virtualize) up ~85%, now ~14% of ARR
- Genesis and Guardian contributed 25% of sequential ARR increase
- First major FedRAMP Guardian deal: seven-figure initial order, far above
typical state and local spend
- US Federal growth accelerated into mid-teens after being flat at end-2025
- Defense and Intelligence ARR up 25%
- APAC growing 29%, EMEA 23%
