Nova Inc. — Annual Report 2025

Annual Report · Fiscal Year 2025

A year of
bold growth.

$17.8M

Annual Recurring Revenue

5,200+

Active Customers

94%

Net Revenue Retention

42

Countries

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Letter from the CEO

2025 was the year
we chose growth.

When we started Nova in 2022, we made a deliberate choice: we'd build a product that teams actually want to use, not one they're forced to. Three years in, that bet has paid off. We grew ARR by 72% — not through sales pressure, but because our product does exactly what it promises.

"The companies that win the next decade will be those that treat their tools as products, not just software."

This year we shipped 40+ significant product updates, expanded to 42 countries, hired 28 exceptional people, and built the infrastructure to sustain the next phase of our growth. We closed 2025 with $17.8M ARR, 94% NRR, and a team that genuinely loves what they're building.

2026 will be about depth: deeper product capabilities, deeper customer relationships, and a deeper investment in the platform that will power our next five years. Thank you for being part of Nova's story.

Financial Performance

Numbers that
tell the story.

Annual Recurring Revenue

$17.8M

↑ 72%YoY

Up from $10.3M in FY2024. Enterprise segment grew 120%.

Net Revenue Retention

94%

↑ 6ptsvs 2024

Industry benchmark is 85–90%. NRR above 100% on enterprise tier.

Active Customers

5,200

↑ 58%YoY

624 enterprise accounts (>$10K ACV). SMB churn reduced to 2.1%.

Gross Margin

78%

↑ 4ptsvs 2024

Infrastructure efficiency improvements drove margin expansion.

ARR Growth — Quarterly ($M)

$7.2

Q1'24

$8.8

Q2'24

$9.6

Q3'24

$10.3

Q4'24

$12.1

Q1'25

$13.9

Q2'25

$15.8

Q3'25

$17.8

Q4'25

Product Highlights

40+ updates.
One vision.

⚡

Nova Workflows

Our flagship automation product. No-code workflow builder with 150+ integrations. Most-used feature by enterprise accounts.

3.2M

Workflows run

+94%

YoY usage

📊

Nova Analytics

Real-time dashboards and reporting launched Q2 2025. Fastest adoption of any feature in company history.

1.8M

Reports generated

4.7★

User rating

🤝

Nova Teams

Collaboration layer launched Q4 2025. Real-time multiplayer, comments, and shared workspaces. Drove 28% expansion revenue.

42K

Active teams

+28%

Expansion ARR

Looking Ahead

2026: The year of
category leadership.

Strategic Priorities

01.Reach $30M ARR by Q4 2026, driven by enterprise growth and international expansion.

02.Launch AI assistant feature suite — projected to drive 35% increase in product engagement and expand ACV by $4K.

03.Enter EMEA market with London office opening Q2 2026. Target 15% of ARR from EMEA by year end.

04.Complete Series B financing of $45M targeted for H1 2026 to fund product and go-to-market acceleration.

2026 Targets

→$30M ARR — 69% growth target

→95%+ NRR — continued expansion motion

→8,500 customers — 63% growth in base

→60 countries — from 42 today

→80% gross margin — continued efficiency

Thank you
for believing
in Nova.

Customers, investors, team members — you make this possible.

investor-relations@nova.co · nova.co/annual-report-2025