Topline growth is the mandate for 2026, and Q1 tells us we have to continue to push harder on new customer acquisition and volume. We can manage costs without cutting into product innovation that is driving our platform differentiation and growth in our sales teams. Subscription revenues as a percentage of total revenue grew again this quarter, reaching approximately 60%. Total revenue for the first quarter of 2026 was $5.3 million, a decrease of $472,000 or 8% compared to Q4 2025 and a decrease of $149,000 or 3% compared to Q1 2025.
Core press release revenue for Q1 2026 was approximately $4.4 million, down from $4.8 million in Q4 2025. As part of this, our PR platform and media suite revenue increased $200,000, up 23% sequentially and year-over-year. That growth reflects the early monetization of our new subscription tiers and the strength of platform adoptions. Revenue from our PRO plan was flat compared to Q4 2025, however, decreased $126,000, or 46% from Q1 2025.
Gross margin for Q1 2026 was 74% compared to 77% in Q4 2025 and 78% in Q1 2025. The sequential decrease in gross margin percentage reflects the lower revenue base and a modest increase in cost of revenue due primarily to increased distribution costs. We believe gross margin will recover as volume and subscription revenue grow. On a non-GAAP basis, EBITDA for Q1 of 2026 and Q1 of 2025 was relatively flat compared to $251,000, or 4% of revenue in Q4 of 2025.
| Metric | Period | Current guidance |
|---|---|---|
| Customer retention rate | Year-end 2026 | Target of greater than 95% by year-end |
| Subscription / ARR mix | By Q1 2027 (this time next year) | Goal of close to 80% of revenue being ARR, largely eliminating seasonality |
| Social monitoring add-on ARR | Next 12 months | Implied ~$556,000 (stated ~$550,000) of ARR from customers who bought the upgrade |
| MCP analytics engine (Kill the Report) revenue | Q2 2026 and beyond | Expected to deliver immediate incremental revenue in Q2 on a per-release or subscription basis and drive retention and upsell |
| SG&A cost posture | Second half of 2026 | Actively reviewing SG&A for further efficiencies and positioned to act quickly if industry headwinds materialize |
| Metric | YoY | Note |
|---|---|---|
| Total revenue | -3% (-$149K) YoY; -8% (-$472K) sequentially | Q1 seasonality from post-year-end timing and lower press release volumes, plus industry-wide volume softness. |
| Core press release revenue | Down to ~$4.4M from $4.8M in Q4 | Normal seasonal volume patterns consistent with Q1 2025 and a modest industry-wide decline in core volume. |
| PR platform and media suite revenue | +23% YoY and sequentially (+$200K) | Early monetization of new subscription tiers and strong platform adoption. |
| PRO plan revenue | -46% (-$126K) YoY; flat sequentially | Managed-service PRO customers migrating to the self-service ACCESS PR and ACCESS IR subscription products. |
| Gross margin | 74% vs 78% in Q1 2025 and 77% in Q4 2025 | Lower revenue base and a modest increase in cost of revenue from higher distribution costs; expected to recover as volume and subscription revenue grow. |
| Total operating expenses | -6% (-$281K) YoY; -11% (-$580K) sequentially | Disciplined cost management across the organization. |
| GAAP net loss from continuing operations | $611K loss vs $765K loss in Q1 2025 ($509K loss in Q4) | Improvement year-over-year reflects cost discipline and reduced interest expense. |
| Adjusted EBITDA | $564K (11% of revenue) vs 10% of revenue in Q1 2025; $881K (15%) in Q4 | Sequential decline primarily a function of lower revenue in the quarter. |
| Cash flow from operations | $871K vs $747K in Q1 2025 and $258K in Q4 2025 | Continued generation of adjusted free cash flow and a healthy deferred revenue balance. |
| ARR per subscriber | +15% to $12,803 from $11,139 (+2% sequentially) | Trade-up and trade-in activity and early monetization of new product tiers; ARR per subscriber has risen in seven of the last eight quarters. |
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| Pay-as-you-go to subscription/ARR transition | Churn flagged as a risk on the Q4 call; retention in high 80s | Subscription revenue reached about 60% of total, retention hit 92%, and management targets close to 80% ARR within a year to eliminate the seasonality that dominated the legacy pay-go and compliance business. | — |
| New product commercialization (social monitoring, ACCESS Verified, MCP analytics) | Products built and brought to market at end of Q4 / into Q1 | Social monitoring is proven with a ~20% ARR lift and 60% opt-in, ACCESS Verified is customer-facing with strong feedback, and the MCP analytics engine (Kill the Report) is live and expected to drive Q2 revenue, retention and upsell. | — |
| Revenue growth as the 2026 mandate | Prior focus on retention and churn reduction | Management named topline growth the priority, acknowledged the number was unsatisfactory, and is pushing harder on new customer acquisition, more sales headcount, and more events to expand pipeline. | — |
| Cost discipline and SG&A efficiency | Operational discipline built over the past 18 months | OpEx down 11% sequentially and 6% year-over-year, with management actively reviewing SG&A for further efficiencies to be ready for potential macro and industry headwinds without cutting product innovation. | — |
| Partner marketplace and ecosystem strategy | Marketplace discussed last quarter; trusted exchange relationships (NYSE, OTC Markets, London Stock Exchange) | The marketplace is fully operational with Hootsuite as the first integration partner, more partnerships in the pipeline, and cross-selling underway, positioning ACCESS as a content curation and amplification ecosystem rather than only a press release vendor. | — |
| Industry volume and competitive position | Volume a long-standing headline metric | Industry press release volume dipped modestly, leaving ACCESS neck and neck (within 0.1%) with Business Wire for third position behind GlobeNewswire and PR Newswire; management views the industry as in a no-growth mode and is focused on subscription communications rather than pure release volume. | — |
| ACCESS EDU long-term growth channel | Program spanning 100+ universities and thousands of students | The EDU pipeline is beginning to convert as schools and their associated PR agencies enter paid subscriptions, delivering early revenue signals from a long-term growth channel. | — |