as now representing a Bob, increase Thanks, the million, sequential XXXX. up an million, define were the and morning, fourth X% sequentially. I'll record change X% approximately period and over total financial for good XX% quarter $XXX of some plus QX cover in period and billings, X% sequentially. we revenues the deferred was Quarterly everyone. prior-year revenue $XXX.X fiscal total revenue, the highlights of over which prior-year
software revenue a and of services our professional not reminder, entirely As deferred revenue consists and maintenance deferred revenue. balance
and full million, X% increase For $XX.X X% increased products XXXX. fiscal $XXX of and over software of approximately reported of reported million, revenues We the total we representing QX fiscal sequentially. year-over-year an year, X% which revenue
For X% products the year, full $XXX.X XXXX. and revenue an approximately fiscal million, software was fiscal increase over representing of
consists This subscription to shift continued with both multi-year of subscription as resonating our pay-as-you-go is type as that pricing utility pleased are models arrangements. sales committed We customers. often and well
QX, revenue. entered we legacy revenue are recognized build QX of anticipated. generally time there XXX, run time comparison committed like-for-like $X at subscription streams not transaction. that such is expect we As combine year software This of positive consider our revenue. you the revenue effect our rate estimate originally somewhat fiscal streams and the from under that amount years of The would basis, deals, equal, to in reduced and generally million XX%. nature. to recognize recognize subscription approximately software these hand, from was X% arrangement transactions than committed. quarter, was products our with of the a Revenue it XX% revenue maintenance, XX% XX% $XXX,XXX XX% revenue over Subscription-based repeatable dampening is software grew a had we managed year-over-year. initial renewal, in our the generally in-period revenue all XXXX. repeatable revenue Utility is to in repeatable the continues a things full subscription-based over and of other be a of are not to X% fact historical up represented of sale. When service committed We we to to which a over price as as the repeatable year-over-year recognized ASC continue faster services additional as license is a revenue reminder, and on be the arrangement approximately our a enterprise All other sale being on generally from software of XX% On Revenue in SaaS, full-year of of the sales due with case about the a software required This total revenue rules. be stream perpetual pricing in given revenue define for to they period a to which under approximately able time deals we represented recognition in and sequentially. software arrangements, three from as
Our approximately size sequentially. transactions enterprise The of to XX% increasing decreased was deal $XXX,XXX year-over-year record, a the average year-over-year quarter. revenue quarterly number enterprise during XX% X% and
The range During XX% sets, the has we've and declined Appliances also solutions, of solutions based transitioning measurement licensed down XX% software amount quarters, are the XXXX capacity traditional in been for QX users, HyperScale models, of sold of customers XXXX. may Sales VMs, solution and XX% quarter, was to instances. per the stand-alone as traditional through that QX number on capacity data terabyte operating these our from mailboxes, recent and of from terabyte under models revenue such capacity management. in in sockets
while respectively, Americas, underlying XX% the total for for our and a metric perspective, result, basis, and EMEA was software The APAC services revenue, Total was a for XX% XX% becoming terabyte geographic and split statistic revenue represented understand and were was On X% software a As the disclosed $XXX is increase XX% X%. growth as year-over-year approximately revenue of and percentage APAC less of respectively, of down capacity meaningful year-over-year and sequentially. X%, of XX% the From XX% to up mix services. Americas XX%, million, QX software a business. EMEA quarter a an quarter. revenue
our to and services year-over-year professional maintenance show improvement. rates, We to have strong continued renewal business continued
revenue X% the was XXXX. fiscal $XXX.X full approximately an increase services representing For fiscal over year, of million,
to software to quarter. included of is revenue. and for expenses EBIT Gross in HyperScale products the our the operating cost were The cost margin. Now, gross of hardware moving on and related margins margins, XX.X% Appliances
based the margin a were XXXX, margin expenses the income and operating approximately XXXX our discuss Operating gross resulting share fiscal X% X% $XX.X ended continue million. XX.X% As sequentially. sales or approximately I'll for approximately quarter was with gross quarter. shortly, of beginning approximately X,XXX appliances and of average the outlook to EBIT was shares. will decline. diluted XX.X our ramp operating in X of these million million, for employees, my commentary. margins part up expectation $XXX.X count the the $X.XX quarter, quarter the on for were from fiscal as percentage of of Total EPS income weighted We year-over-year quarter, $XX.X down million Net in
XXXX about full QX talk FY keep seasonality. We would now our to me due Let the quarter year fiscal outlook. to and challenging QX like XXXX you is mind that usually in most
a revenue product which continued as subscription-based currently slightly, to revenue in trend QX XXXX, We move FY both anticipate be pricing. and software in decline continue and believe our up growth we We expect this EBIT. reflects currently will sequential to year-over-year QX
QX to digits. the in mid- be growth expect We to year-over-year total revenue high-single
QX We X.X%. approximately expect percentage EBIT margin the be to
the the initiatives subscription-based our key growth of lower the to expect fact XXXX move to due We first revenue not in offset will that half FY pricing.
line distribution of top margin line with to pricing. (XX:XX:XX) year. by provider fiscal initiatives packaging of leverage HyperScale, as simpler key half second expansion help the Advanced particularly and drive Cisco These top with our DR the such drivers, of channel service We and and in the expect Appliance, partnership, combined acceleration FYXXXX, second partners, will EBIT software our our improved strategic in driven revenues half
to XXX margin We EBIT expansion approximately revenue XX% approach expect basis FY total of XXXX with points. growth
total our repeatable XX%, to continued approximately subscription expect pricing to which We increase and XX% of products a streams. shift the software reflects models as revenue percentage from to revenue
operating second and with FY Our to approximately XX% objective margins sustainable of EBIT XX% achieve FY XXXX. is XX-plus-percent the margins XXXX half to of to exit in
also we approach Bob over two next stated, XX% repeatable XX% the As years. to to revenue expect fiscal
operating increase third-party employees, the examination all reduce, functional use of effort reductions. in slightly underway and align continue actions This to spend include of contracted and plan areas. to consolidate cost expenses, are across of T&E and will approximately X% an we workforce Although to resources XXXX, invest FY
most and We expect to the with to recognized reductions approximately be primarily from marketing of sales in routes related starting record anticipate first quarter reductions. of million The productivity other margin. restructuring count are our shareholder head of charges of restructuring of any margins and which and We a These the these $X EBIT cost to product $X with million, and our matters along force associated company's immediate strategic costs with long-term will operating will are realignment designed to associated excluded including programs. charge the XXXX and initiatives, severance outlook of efficiencies, to personnel fiscal help in costs of packaging improvements and QX support go-to-market in and that sales XXXX. the drive market changes, actions pricing combined in non-routine
Our in XXXX. objective do software margin is provide this will our that impact in to leverage but manner operating objectives, not FY will a growth
consultant Bob growth to As Commvault operations leading a will the additional board value the has opportunities identify stated, company and creation. outside an formed committee, engage for and
EBIT share shares. for approximately share will percentage points. FY shares. million XX be anticipate We should QX by weighted Commvault royalties XX by Hyperscale XXXX adversely million include count average approximately gross margin the to Software impact offering approximately full FY our reminder, margin that a our diluted our our related XX.X As percentage XX.X basis year our impact and basis Appliance integrated the XXX third-party hardware approximately of will points count points anticipated expectations to be Hyperscale margin software with that and XXXX our basis
taxes tax now on Cash the reform. for XXXX million. were impact me approximately the payable $X fiscal be taxes recent briefly Let of estimated to comment and
earnings concluded U.S. our profits completed value zero. and tax of is repatriated one-time on the not previously have for tax the and one-time transition tax our the were cumulative purposes transition that of income We of impact analysis
non-GAAP QX from see tax reform rate. be less anticipated believe currently should XX% reduce As long-term the our to we our million. U.S. to tax tax rates. fiscal expect income reform, discussed fiscal approximately will beginning last in cash the in time, tax taxes on with benefit We lower XX%, of Commvault and, than gap Based XXXX, XXXX our tax on modeling cash cash from we align new over will will $XX call, which rate
to our on and cash flows. sheet moving balance Now,
March million, approximately As investments the XX% U.S. approximately our and which cash XX, was balance located of short-term $XXX of is outside
positions currently the maximize cash are ensure evaluating can balances. effectively to of we our cash We global our worldwide availability
million stock common $XX.XX During approximately QX we shares or XXXX, $XX of approximately average our at share. XXX,XXX per of repurchased an cost
have approximately common million approximately approximately full X.X million our remaining cost million stock program less at Free which that XX, $XX.XX on an the which For repurchased $XXX as shares from year-over-year. was flow share of was year, share. define per we fiscal $XX.X average approximately currently capital or million, under XXXX. $XXX we of expenditures, expire cash our cash repurchase will operations March down XX% flow, We
XX, and March of As the was XX% of balance revenue over million, XXXX, increase our $XXX X% deferred is approximately prior-year sequentially. which an period
deferred our services has customers. of All was invoiced that revenue been revenue to
in expect low-single sequential We growth a digit percentage range. deferred QX increase revenue to
As up was building future. professional committed a likely to as recognizable mid-double XXXX. growth approximately in and $X or sequentially be sheet million maintenance primarily also the been result, that has customers. balance we and We're support services unbilled balance yet to billable expect March This contracts will year-over-year not represents be million QX XXXX which digits. to low- unlike of $XX to revenue deferred The deferred XX, XX% the invoiced backlog, but an in revenue off-balance
days, quarter, XX up days was period sales from XX the the which XX and sequentially. outstanding, DSO, days our is days from prior-year For or
Our QX to DSO receivable. of XX accounts due days impact approximately unbilled includes X-day an
call sequentially back committed balance Bob. of time. million increased be $XX.X this receivable been Bob? paid subscription my That vast over approximately unbilled has majority by over revenue I'll prepared our that but QX, million. concludes remarks. approximately to will $X now turn to represents The recognized, And During the balance
