The company’s second-quarter revenue climbed 21% to $286.3 million, comfortably outpacing the $273.1 million consensus forecast from FactSet analysts. Adjusted earnings reached 24 cents per share, significantly higher than the 18 cents anticipated by the market. This performance prompted an upward revision of the full-year earnings guidance, now pegged at 85 to 87 cents per share.

Chief Executive Bill Staples attributed the momentum to record gross bookings and a 40% surge in net annual recurring revenue. He noted that AI is fundamentally altering the development cycle, creating a collaborative environment where humans and autonomous agents build software side-by-side. For the third quarter, the company projects revenue between $281 million and $283 million, aligning with existing analyst estimates.