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● Copperleaf Announces Third Quarter 2021 Results Q3 revenue increases 55 % YoY to $ 16.8 million Annual Recurring Revenue grows 52 % YoY to $ 33.2 Vancouver , British Columbia - November 11 , 2021 – Copperleaf Technologies Inc. ( TSX : CPLF ) ( " Copperleaf " or the " Company " ) , a provider of enterprise decision analytics software solutions , today announced financial results for the three and nine months ended September 30 , 2021. All amounts are expressed in Canadian dollars unless otherwise stated . ● copperleaf " Our third quarter results demonstrated strong progress on our key financial metrics . We delivered 52 % YoY growth in Annual Recurring Revenue , 50 % YoY growth in our Revenue Backlog , and a 125 % Net Revenue Retention Rate , " said Judi Hess , CEO of Copperleaf . " For more than a decade , Copperleaf has been helping organizations allocate their resources , time , and funds toward the most valuable areas of their businesses to optimize their performance . With the successful completion of our IPO , we are in an even stronger financial position to build on our advantage and capture a greater share of the decision analytics market , which is still in the early stages of a long - term growth cycle . " ● Third Quarter 2021 Financial Highlights ( All Capitalized terms not defined herein , shall have the meaning ascribed to them in the Management's Discussion and Analysis for the three months ended September 30 , 2021 ; Comparison periods in each case are the three months ended September 30 , 2020 , unless otherwise stated ) Record revenue of $ 16.8 million , an increase of 55 % over Q3 2020 , driven by the increase in new clients and the expansion of existing clients . Annual Recurring Revenue¹ as at September 30 , 2021 of $ 33.2 million , a 52 % increase from $ 21.8 million as of September 30 , 2020 . Subscription revenue of $ 8.2 million ( 49 % of total revenue ) , an increase of 52 % from the prior year . Gross profit of $ 12.9 million , a 67 % increase from $ 7.7 million in Q3 2020 , representing a Gross Margin of 77 % . The year - over - year growth reflects an increase in revenue , successful remote delivery resulting in less travel , as well as an improvement in utilization . Adjusted EBITDA¹ , ² loss of $ 1.4 million , compared to a loss of $ 2.0 million in Q3 2020 . 1