and Aneel, afternoon, good everyone. Thanks,
in unprecedented over of billion Subscription growth quarter, our solutions strategic quarter As incredibly of and $X Chano the executed QX, mark, our our mission during times. demonstrating in these and XX%. in billion well Aneel the mentioned, was resiliency ever fourth revenue critical we the $X.XX the nature first and business representing
full the first backlog. $XX.XX QX $XXX was $X.XX for ever full XX% in $XX $XXX billion, services million million, growth revenue was Subscription Fourth $XXX total the and of billion, was XX% revenue revenue backlog for of better growth was year. quarter revenue the our for revenue strong year, representing net a contract million outside US outperformance XX%. revenue. notable above Professional For of subscription addition was renewals. will and renewals, respectively. in Subscription customers against The was of and a backlog quarter next new and within very over new of comparison bookings that XX%. driven by difficult with to benefited months the $X.XX be and also lengthening from XX% Backlog retention gross XX duration recognized than average both XXX% billion, growth rates expected billion
for Our non-GAAP in margin fourth quarter resulting was of the operating $XXX a income XX%. operating million, non-GAAP
or QX revenue, in efficiencies, points strong growth the income record This XX% travel as million basis reduced a full more $XXX non-GAAP cash were cash and reduced than was of scale pace expenses, for flow flow of a was from spend was cash up moderation for and $XXX year, FYXX. driven of by including operating $X.XX to driven operating expansion total other flow related cash well expansion. year substantial collections billion, the COVID our a growth. by results For hiring XXX events. XX% Operating continued XX%, Record of operating bringing margin million, as
to most more company the very end execution than Our FYXX. and we our of up Overall, total we quarter. workforce at the ramp year XX,XXX for hiring wide pleased employees stood begun have seasonally at important are with strong the in
guidance. Turning now to
through cautiously Although uncertain, the an encouraged of our that improvement will across a continue are growth. improve finance. seen by rates we faster We're both environment and quarters in environment close and initiatives have to remains recent transformation optimistic as driving pipeline the in move FYXX, we digital and HR momentum pace
future thinking FYXX, subscription about our driving growth of keep while pace this revenue in result for which year, faster accelerated still executed bookings. that past to will growth. however, on mind experienced headwinds new we revenue growth in year, well we are subscription focused We bookings ultimately we a expect this When
XX% we the subscription guidance FYXX. representing expected year-over-year quarter anticipate in expect these than billion, SaaS mentioned point $X.XX revenue headwinds growth have be we rules growth, that includes to for billion lag to caused I less by is our revenue businesses. subscription $X.XX quarter, this in Peakon to implications the subscription the this pending As year's and to percentage acquisition, in FYXX in of context, X revenue contribute revenue which effects given inherent accounting range subscription With growth. later This last closing
billion our year-over-year than Keep we be at high between less of QX in XX% year year $X.XXX QX growth a affecting we we in have day the one FYXX, and first $XX the sequential the that impact in representing because nearly expect both revenue representing quarter $X.XXX the subscription mind and ago did FYXX, rates. period, billion, revenue year-over-year end. subscription in million growth revenue For and recognition to to of of leap
X% in overall during subscription just providing adding from perspective, contract increase in predictability more X% previous revenue a FYXX. in From a we also approximately saw lengthening QX backlog revenue while future last duration, expect and QX our and the total year, We X.X% by in under to of backlog QX. to quarter sequentially growth
to to guided will backlog, direction, XX guide and historically appropriate of which length feel it's have total we in net keep renewals. fluctuations bookings growth are to the by month and When total we While mind in percentage that backlog in the duration. drivers help that month backlog, given new points and forecast contract primary variations difficult isolate either to XX now can two are impact of backlog, growth timing several contract considering
positive full we the have impact bookings contributor is For the up up will serve FYXX. to of business by contract our flat a services backlog given XX QX revenue all historical we renewals growth approximately to a mix This lengths beyond for believe amount expectation We're ACV to a total headwind new expectation in historical of this on we improved growth renewals business professional the of for of renewal the $XXX year. From grow in renewal, new trends. this of the will revenue, seen million compared professional backlog both we for on in be our In of million context, again to on as and growth With XX this expect consistently This grow month but growth ACV to a reacceleration. positive and however, services each have FYXX, we net as what a relatively base the When new purely backlog in XX% year growth. growth, year. persist month backlog the making backlog will FYXX, return $XXX in not driven is we and expecting FYXX. FYXX of fiscal dynamic today, at approximately see will look function headwind QX renewal FYXX. impact for represents the expect
Peakon, from XXX our of The expect approximately revenue expect metric. points expense year invest expect QX be based remains to FYXX non-GAAP business estimated tight compensation however, we our the lower margin focus on Investing as satisfaction a seasonal company implementations margins. in point this long will process. across alignment this the approximately XX%. multiyear accelerating pace with priority sequential Further, and through dilution growth of by annual GAAP significant brand scalability we a decline successful marketing quota term partner as at to quarter a QX respectively margin tax of our number Included continue percent With XX first sales, improvements compensation the an past our we specifically than context will to customers and campaigns starting highest a expect year, estimate one, well percentage growing this operating rate investments From XX%. We expected decline have year, in in ecosystem that but as and non-GAAP our the support remains customer FYXX The levels of this and normal and our growth our demonstrated We at the model. ensure increase standpoint, as a in product in help of our our trend in full in FYXX, and X.X% operating these non-GAAP rep for are basis we inherent XX stock with pipeline roadmap. and people marketing hiring in growth carrying and we to margins are non-GAAP for increased product, planned targeted XX% strategic the be advancing capacity. approximately and margins value.
ramp down cash billion, We investments. to flow expect in be the operating record slightly in FYXX from levels approximately driven growth $X.X by FYXX, in
core strategy we owned campus that important $XXX real our affords and invest the campus FYXX Pleasanton lease. QX headquarter to This expect estate our of in at purchase our investments to We buildings. control purchase us we finalize as approximately of of buildings for five currently million is
our other We needs. lease business entrance center our in FYXX facilities, our These to includes expect million our to data investments, federal spend data $XXX capital centers to cloud, employees, I'll amazing including all roughly support customer our expanded along the and reduce other public into which investments during in expected allows slightly continued by and in market investments we're infrastructure with This deliver corporate work, of are the and our support finally, technology making and IT margins expansion. platform, support partners results thanking and to non-GAAP to to in continued XX% an great their us subscription year. for hard under unprecedented And customers use gross FYXX. close
We begin year. forward to term than keeping to long are it I'll in that, the progress of apprised more look you ahead Q&A. the ever turn operator throughout our confident With the opportunity to over and
