Second Quarter 2025 Financial Highlights:

• ARR ended at $79.8 million, an increase of 17% year-over-year.
• Quarterly billings were $19.7 million compared to $17.1 million in the same quarter last year.
• Quarterly free cash flow was $0.2 million (1%) compared to $0.6 million (4%) in the same quarter last year.

Second Quarter Highlights

• Enterprise Octopus Deploy Customers (50% of our ARR) continue to represent our ICP and are performing strongly with Year-on-Year growth of 20%, GRR of 91% and NRR of 116%. 
• North American Enterprise customers ($25m ARR) grew 20% Year-on-Year with an NRR of 116%. 
• As of June 30, 2025, we had 137 customers with ARR of $100k or more, an increase of 10% from June 30, 2024.
• In June we published the State of GitOps report 2025. This was Octopus Deploy’s inaugural report using the data from 660 respondents and our unique insights to highlight the adoption, practices, and benefits of GitOps.

Third Quarter Outlook

Based on information as of today, Octopus Deploy is providing the following guidance:

Third Quarter 2025 Outlook:

• Ending ARR of between $81.0m and $83.4m 
• Loss of between $(3.5)m and $(4.5)m due to seasonal fluctuations

Paul Stovell, CEO

Sammy Michaels, SVP Finance