Q1 2025 Business Performance Update

We are pleased to share our Q1 2025 performance update with the One X Group community. The first quarter has been a period of strong growth, strategic advancement, and operational excellence across all four business pillars. Our team has delivered exceptional results while laying the groundwork for sustained growth throughout the year.

Revenue and Growth Metrics

Q1 2025 revenue grew 42% year-over-year, driven by strong demand for our AI consulting and custom software development services. The growth was broad-based across all four pillars, with One X Tech and One X Data leading the way with 55% and 48% growth respectively. Recurring revenue from retainer engagements and platform subscriptions now accounts for 35% of total revenue, up from 22% in the prior year period.

Client retention remained strong at 94%, reflecting the deep value our teams deliver and the long-term partnerships we cultivate. Average engagement size increased by 28% as clients expanded the scope of their digital transformation initiatives with our teams, a clear signal that our land-and-expand strategy is working effectively.

Sustainable growth comes from delivering exceptional value to every client, every time. Our numbers reflect the trust our clients place in our teams and the impact we create together.

New Client Acquisitions

We welcomed 18 new enterprise clients during Q1, including several marquee logos in financial services, healthcare, and logistics. Notable new engagements include a comprehensive AI transformation program with a leading Southeast Asian bank, a data platform modernization project for a multinational logistics provider, and a design system implementation for a major healthcare technology company.

Our new client acquisition cost decreased by 15% compared to Q4 2024, driven by increasing inbound demand from referrals and our growing reputation in the AI consulting space. Word-of-mouth referrals now account for over 60% of our new client pipeline, underscoring the importance of delivering outstanding results on every engagement.

Strategic Milestones

Several important strategic milestones were achieved during Q1. The launch of our Jakarta office expands our geographic reach into Indonesia, one of the fastest-growing technology markets in the region. Our Helix AI platform crossed 1,000 active enterprise users, validating our product-led growth strategy. We also completed our ISO 27001 certification renewal, reinforcing our commitment to information security best practices.

Our partnership ecosystem expanded with the addition of three new technology alliance partners, including a major cloud provider and two specialized AI tooling companies. These partnerships enhance our ability to deliver comprehensive solutions and provide our clients with access to best-in-class technology across the entire stack.

Team and Culture

Our team grew to 185 professionals across five offices, with a strong focus on maintaining the culture of excellence and collaboration that defines One X Group. Employee satisfaction scores remained above 90%, and voluntary turnover held steady at under 8% annually - well below industry benchmarks. We attribute these metrics to our investment in professional development, our commitment to meaningful work, and our collaborative and inclusive culture.

Outlook

Looking ahead to the remainder of 2025, we see continued strong demand for AI consulting and digital transformation services across all our target markets. Our pipeline is robust, our team is energized, and our strategic investments in platform development and geographic expansion position us well for sustained growth. We remain committed to delivering exceptional value for our clients while building a company that our team members are proud to be part of.