to to Anderson too. incredibly you Thank growth accelerate us. excited you, to board next team to have joining Mark, Cloudflare further a Mark our Cloudflare. everyone you on welcome take Matthew, for to want at of the and to moment I we're thank phase
to the focus go-to-market from our results. operations Turning our strategies financial that fourth to share positive momentum on the refining pleased and our I'm during continued quarter.
and rates, business ceiling significant earlier, $XX close robust a in As sector driven customers, contract productivity, by growth mentioned including quarter. our momentum pipeline in million. Cloudflare this in was progress One, deal the Matthew with average linearity company's public quarter value improved compared last sales new Strength history the with largest the all size of with and win customer in large
X.Xx record Importantly, cash flow, of act and year-over-year Operating we being as fourth fiscally stewards we outperformed commitment the and maintain responsible investor's million during strong also significantly good generating profit to on our to $XX.X capital. increased continue a nearly free quarter.
revenue revenue year-over-year. XX% $XXX.X perspective, and of year-over-year. increased and XX% quarter the million. APAC revenue increased From XX% for represented revenue increased the of fourth revenue. and increased XX% to a represented year-over-year represented to of EMEA geographic Total XX% Turning XX% U.S. XX% year-over-year.
and customer were We pleased an from addition roughly customers of year-over-year. to fourth increase increased of our XX% XXX,XXX paying XX% to XXXX representing revenue we in the fourth quarter customers large the the In had quarter, see last revenue customers XX,XXX contribution from XX% in Turning an to again during of quarter metrics. paying year.
For fiscal XXXX XX% of represented XX% revenue XXXX, large from in XXXX. XX% compared in and revenue customers total to
we referenced added new an $X Matthew spending As more on record customers basis net Cloudflare. annualized earlier, $XXX,XXX of number with and than a million
the customers year-over-year, with year-over-year. XXX the XX% spent XX% ended over us, $X we us, with and year with the increase that year we that customers with spend over full XXX increase a year, For a ended million $XXX,XXX
spending X We also with XXXX annualized customers Cloudflare. on exited basis with an million least at $XX
the in our value in signed largest company's contract $XX quarter. renewal which of history fourth total agreement of million the One
XXX% Our net was a fourth sequentially. representing retention rate dollar-based of during decrease the quarter X-percentage-point
we believe last to metric mentioned is As stabilizing in but some quarter, can this the variability trend quarter-to-quarter, these there be prior levels. decelerating continue we in DNR near
of remaining driving in of X% Moving onboard margin our an XX% sequentially efficiency gross increase of fiscal XX.X% points Fourth was representing range XXXX, our uniqueness XX basis basis to margin CapEx increase of quarter an from long-term for benefit greater infrastructure to quarter XXX year-over-year. and gross above workloads. margin. and revenue the on Gross target the points to to XX.X%, as platform new of XX%. represented our continue from Network focus our fourth we was
CapEx of be network revenue XXXX. in to fiscal XX% expect We to XX%
of lives recorded XXXX. technology as will the operate our assets have for our fiscal depreciation useful our assets December service continuous estimated and in infrastructure, of increased extending approximately from network composition data that center to for we how change reduce XXXX $XX of fiscal X we in With equipment. XXXX, the million service efficiency the of starting primarily In the in advancements in in by revenue. and assessment XXXX, XX, of estimate evolution the in we an years hardware the these improvements this of designs in of January our useful lives X undertook We determined resulting cost equipment,
leverage markets As in one platform increasingly a we as through discussed as of we innovation view to efficiency to key strategic our advantages, previously, disrupt continued product Cloudflare's our competitive we weapon margin opportunity intend packaging. and differentiated and this
operating Fourth expenses. XX%. expenses revenue a quarter X% to Turning as of by to year-over-year decreased percentage operating
higher year. same of the year-over-year year.
Operating pace XX% based in to conditions were G&A points fiscal bringing number increase to quarter. as decreased and of productive our hiring $XX.X X,XXX $XX.X Fourth XX% is of across for efficiency more percentage same the Research focus XX% in expenses increased a administrative compared quarter General quarter. quarter our to over last operating a employees These and $XX.X the and from XX% the expenses highlight $XXX.X percentage year. operations.
Sales in headcount was and million year. to quarter. revenue becoming million and was at million total to quarter as committed a marketing expenses competitive margin million last in revenue of last to continue to as the greater advantage. driving total basis We'll of remain quarter $XX.X our of quarter. efficient productivity results Sales XX%, in XX% marketing same the last R&D the development from an given and year-over-year. from on excellence market decreased XXX percentage on course end XX% same for period continued revenue were of and long-term were decreased operational Our the the XXXX more million XX% income the that a
sheet. balance the in income net to Turning
billion cash, fourth dilutive in ended or XX% $X.XXX same equivalents cash a RPO Free RPO in Our million revenue income XX% year. fourth and quarter quarter came or of billion, year-over-year. of was of Current obligations, million or increase with $XX.X with representing total income an flow $X.XX. $XX.X sequentially compared revenue was Remaining quarter XX% We RPO. last $XX.X or of at was $X.X period performance net XX% the or in cash share available-for-sale the XX% in securities. of per the in million
guidance the full year quarter XXXX. to first and for Moving
in the terms metrics. the encouraged during by are of rates fourth We close and improving progress delivered productivity we quarter
be showing we XXXX, macroeconomic that challenging signs improving as reminder that are of mixed serve predict. However, a points operating also environment to in continues exiting to data business a
and committed prudent remain outlook result, to to as XXXX. strategies are tactics in did in our we just or fully response any a continuing in adapt our to XXXX, external we and positive negative we variables for As
Now turning to guidance.
range quarter, revenue For of the million year-over-year. of XX% increase to the an $XXX.X we million, in $XXX.X to XX% first representing expect
we expect income $XX million, of We million the rate expect $XX effective range an operating to tax XX%. in of and
income $X.XX, share XXX outstanding. of million shares per assuming net diluted approximately expect We
the year For XXXX, half an we of the $ full $X.XXX in anticipate range year-over-year. XXXX. the versus in of revenue half expect of representing of weighting similar increase second billion, X.XXX to the revenue first We XX% to billion XXXX to be
operating We in million range expect income $XXX for full the $XXX to million. of year the
effective We million and million tax $XXX XXX XX% year net assuming expect in XXXX, be flow achieved free full to to that income over we of per XXXX, an for for expect having profit cash approximately flow to $X.XX, shares XXXX. $X.XX rate approximately with cash be we relatively the consistent expect significant diluted of free outstanding.
After period share operating
ensuring please modernizing, growth higher well us compared first up half team operating them and face our some poll profit.
In Operator, I'd questions. of delivering the I'd second committed for to operational long-term thank half that it our closing, their questions. as excellence, With remains and hardest to customers our as like mission open like value. trusting to transforming our businesses.
And they help to for with that, problems solve securing the with for when and the for to employees driving dedication lower the shareholder significant
