We wanted to provide an update on how things are going with RunSignUp prior to our biannual Endurance Registration Report in early April. The good news is that more races, timing companies, running stores and runners continue to recommend us. One of our key stats we follow is the number of races that process more than 3 transactions with us. Our numbers were great for Q1 with 22% growth (on a very large number of races!):
Our bottom line has also faired well, with increased gross margin and lower legal fees resulting in a very solid Q1. We are using this positive momentum to continue to invest – we are adding a new User Interface Developer on April 3 and a new Developer in June to continue to accelerate our technology roadmap.
We have also recently received some great news that both the Napa Marathon and the Philadelphia Marathon have selected us as their race management platform. In addition, RaceJoy has been selected by a number of large marathons this year including Pittsburgh, Flying Pig, Ogden, Colfax and Philadelphia. Our mission of bringing advanced technology to the endurance industry continues to accelerate!