Thanks, Aneel. And afternoon, good everyone.
technology execute success our mentioned, Aneel purposed we differentiating market continue customer long-term against As our model. uniquely through to ourselves opportunity, and well
growth pleased delivering total first XX%. results, revenue reflecting $XXX We our are very million, with year-over-year of quarter of
driven a difficult comparison up revenue ACV year new against $XX.X by came revenue was subscription Subscription ago. growth XX%. at growth net $XXX representing Our million, of solid Services a million, XX%. revenue was Professional outperformance primarily in
US of the against comparison continue very revenue XX% the million, to backlog billion, of XX%, year see of will prior with over subscription recognized a We total strong $X.X two-thirds representing balance to total difficult revenue. the period Subscription also be $XXX with was performance growth up years. XX% Consistent approximately ago. revenue next outside revenue a backlog quarters, two
in expected. changes high the impact than from lower operating operating margins of from did achieved non-GAAP topline was record We strength within any quarter. for QX. $XXX margin We and $XX reflects FX record non-GAAP resulting in a of the flow slightly million, operations Our gross being quarter The overall not strong XX.X%. cash million spend benefit see growth, material profit first the of
cash also at operating record up trailing high Our was year-over-year. XX% XX-month flow million, a $XXX
related Our free our nature. excluded in trailing we trailing investments owned have Note year-over-year. flow was million, we our these $XXX non-recurring to XX-month flow, in XX% million $XXX XX-month cash cash estate calculating up as real projects that free consider
As always, flow results can spending our varying invoicing of and as vary with customer well the seasonal as patterns. cash timing
grew year-over-year end at to over total unearned Moving QX balance to XX% $X.X of the sheet, revenue the billion.
was last continues we trend see year unearned annual XX% portion unearned we call. year electing with to our customers of low one to was grew year-over-year, current As as compounding than billion, QX smallest $X.XX revenue corresponding current ACV. expected consistent was seasonality in ACV continue of net QX of pay decline to Non-current new in which unearned discussed the the expected, revenue more the sequential started that to growth QX in the represent as our with revenue XXs The from XX% fewer down result upfront. line our
talent invest people We in our to and in Workday. top to attracting continue
our bringing During successfully we QX, both quarter, turn total workforce bottom quarter delivering executed net Workday, exceptionally results the and line. extremely new first top fiscal our start a off and I'll at now to end with added of the to well for the pleased gotten great employees integrated Operationally, have approximately to XXX to on we overperformance in guidance. XXXX. X,XXX. We're almost the and
customer the acquisitions will likely continued long-term on providing well fiscal mind in our in QX serve driving as long we raising Based which on Our some will to in outlook from and QX, but economics, continue we our we and metrics, prioritize variability new have sustainable strong result focus growth both which guidance but XXXX last centered comps first difficult business will us contract in quarter-to-quarter year, half of remains still follows. keeping outperformance run. are in and
of estimate $X.XXX full-year we're range $X.XXX in to raising revenue, the billion subscription For to be our billion.
and We year, to QXs. our Professional levels million still pattern improvement XX% our Services or and this revenue X.X% to driving Similar as $XXX QX million increasing in to in reflects highest above success the towards XX% expect sequential be expect Services expansion. revenue prioritize Professional be $XXX growth, larger XXXX approximately QX to customer last QX X.X% million with continue seasonal approximately we trend to We subscription to $XXX of fiscal revenue of respectively.
expect million. we services revenue QX, $XXX For of
the effect by non-GAAP fiscal and the the QX as than a our remaining our We still we unearned margin at non-GAAP seasonality approximately still call. XX laid typical in operating annual entire primarily took margin year pattern which The estimate to the lower and margin continued out of each operating margin percentage XX% and to is the be the to non-GAAP now in short-term operating anticipate from to investment margins, QX employee prioritize we margins our GAAP expected QX year. expect we result of points growing compensation range over beginning of business is on cycle, QX. reflects for quarter XX% for follow in outperformance. sequential in decline X% The we be full For
flow year. strong the XX% expect operating for cash still We growth also of
As long-term a increase from the resulting is seasonally generates sequential wouldn't our and low the but cash vision as employee in annual customers, QX We're continued and the flows. reminder, and for due employees our combination the Operator, limited of to stages our look on partners process. collections without seasonally high executing amazing shared in off be traditionally call. mentioned compensation the a their We're This a expense expenses on start cycle to our I'll support other provided our work. earlier. no let's great change to our still CapEx Q&A our updating finally, progress project capital last or thanking begin against company, for goal. you for development fiscal early close progress a by XXXX our possible to plans year. of and forward And hard There is center throughout operating
