Thank otherwise my everyone, you, results that based. stated, guidance. business joining discuss in and unless for non-GAAP our and turning financial today. to us are before financial our metrics thanks, I'll forward results all discussion Todd, Note
million. of quarter payments million $XXX Revenue range year-over-year the to quarter. were for increased no There coming X% the unusual $XXX true-up fourth in guidance $XXX.X above in million to fourth the
million flat revenue revenue from Services from year, Network was XXXX. for would payment our have year-over-year, our have which grown security XX%. security-based last the revenue, $XX.X X% revenue quarter the $XXX.X fourth payment quarter true-up million, security growth last grew fourth Excluding year, true-up million revenue was over X% to the year-over-year of while of $X.X would been normalized
which primarily customers coupled other in from segment, year-over-year ramping XX% represents million, the products. quarter, traffic, gains products In with Our by saw QX. to better-than-expected share fourth seasonal driven compute emerging grew $X.X we
original our was Our ago. over $XXX below X million year coming growth annual $XXX representing X% range provided XXXX to of guidance million $XXX revenue million, in
the As we be the in improve change we our experienced revised We outlook. half, of discussed we with in to strategy engagement. costs revenue responded customer realigned customers. headwinds prior And year our visibility with from to revenue and line to our during second our few in our largest quarters, a the
and revenue our year few total base. from to XX XXXX customers quarter customers revenue a largest of top QX fourth XX% overall Our comprised declines our in of strategy XX% our of our the XXXX ago XX% reflecting impact in customer and in the to quarter, the of compared the grow
customers mid-XX% in low quarter. remain customer healthy in revenue throughout the XX Also, more to accounted concentration. than representing We customer will a the for range no XXXX, XX% fourth revenue top anticipate from of our
our our wallet broader As revenue enterprise and I on has mentioned, expansion base our top our strategy customer outside overall customers, to expanding acquisition grow resulted focus share segment. customer customer XX the into in
in our closely by rate follows trends. and remain Our ago The XXXX. this in trailing from quarter. due XX-month NRR down the in a from declines of quarter was the revenue and anticipate XXX% flattish expansion primarily overall largest second term, prior down growth followed retention will LTM customers rate prior the quarters year We revenue to near of net decline XXX% benchmark XXX%, our in is from half few the
million, in from $XXX quarter third of increase the increasing toward quarter For increase our of predictable was packages XXXX and million commitments, our the share This our customers the higher of of efforts from revenue with number in to RPO revenue X% with result the of revenue. $XXX fourth a of is with coupled up the proportion an up million fourth $XXX XXXX. largest move quarter, customers, as our X% commitments
RPO that indicator will of our business more XXXX. become We to believe health continue a to in meaningful the
enterprise customers mentioned, XX% On we annualized X%. an both previous accounted average for to year-over-year and Enterprise on XX% increase had at was quarter. QX the last from the customer revenue year. XXX end in X% QX third down in increased to customers count a a compared Enterprise decrease $XXX,XXX, total Todd of QX, QX. a of As compared XX the basis in net of $XXX,XXX of customer XX% of spend in quarter basis,
fourth qualify a fourth consistency customer the We performed total as of our customer self-service review small not data as the a customers reflected customer data, number to as onetime of reviewing adjustment for identified removed a quarter quarter, continue In noticed did this accounts accuracy. that we that from a complete In ongoing count our correction. and and previously online these in the customers. we were
to from decrease X,XXX total a Due is these our represent reflecting reasons, was not customer net drivers. revised made than revenue year-over-year fourth for these acquisition customers our As for XXX annualized over to in $XXX,XXX and suggest we growth the Revenue less better ended investors customer December count $XXX,XXX result, corrections continue customer And this the prior quarter. the have was immateriality, the to we periods. quarter-over-quarter, quarter, XXX revenue indicator we of enterprise of and in that XXXX. a our that count, a those fourth quarter progress in XX,
reported figures rest very churn for to at from customer was will turn results fourth revenue XX% annual our XX.X% XXXX. retention Our our the low of for rate, retention quarter. and we dynamics. the These fiscal I in which to XXXX, reflect healthy financial year-end now down continue
utilization XX.X% in to payment third And the QX points traffic by million and basis last of down basis XX.X% would increased increased was of gross margin higher decline QX year, true-up XXXX. from XXXX XXX costs. an down in traffic quarter QX margin offset our from mix on and XXXX. better been compared of our costs from U.S. XXX have XX.X% the excluding gross points Europe, to the Our was $X.X This outside fixed due bandwidth and
quarter in margin the of Our on XXXX. trailing basis XX% compared XX-month gross XX% a to incremental was fourth
the quarter over XXXX, margin of XX.X%, Our in XXX margin XX XX.X%, improvement the basis margin year-over-year. discounting million points been gross was the would have fourth XXXX's true-up benefit of gross of the gross $X.X up points XXXX annual basis
quarter. due as no material continue into sequentially highlight true-ups expenses our than sales in We $XX.X had basis, flat more a in onetime On year-over-year we primarily and X% transformation to total were XXXX quarter to any sales expenses compared the QX we X% will increased expenses revenue. and third of quarter marketing invested and investors to fourth true-ups from operating XXXX. million Operating increasing the to in leading fourth the were to
in guidance of with lower coming loss our Higher $X at combined operating million to operating of in the resulted $X.X better-than-expected operating an of fourth million million. expenses, quarter the gross end in profit loss $X
annual us For grew $XXX XXXX, expenses our restructuring to spending reflecting below from million rate revenue expense our operating our operating growth margins. X% that $XXX our to allowed in and million reduction improve our XXXX, midyear and grow
from margin net XXXX, basic $X.X loss of loss XXXX million of cash $XX.X $XX.X loss share million XXXX. XX% revenue increase million per to Combined in in we share income QX by fourth in XXXX. adjusted growth diluted X.X% our per operating quarter, or profit gross our our flow a $X.X X% with to and net million we reported from or the diluted EBITDA our free and improved $X.XX XX% X%, income and improved by $X.XX in In to compared of X%
EBITDA million adjusted in fourth compared $XX.X to positive QX at was quarter, coming $X.X in million XXXX. Our in the
and debt notes cash with in balance due conversion million to classified of quarter the Turning refinanced quarter, as with raising a We we a $XXX the term. ended fourth In marketable $XXX long premium in including XXXX. our of sheet. the cash, investments, equivalents, million XXX% outstanding those convertible X.XX% securities portion approximately convertible
approximately those dollar, notes in $XXX a due our convertible $XXX of amount XXXX approximately principal existing in As million result, for outstanding. the $X.XX million notes leaving we of X% repurchased on
this million $XXX cash in and runway balance result, and the liquidity our our X progress quarter the balance in company. reducing equivalents $XXX third declined debt cash million convertible substantially $XXX total cash any mitigated burn to our a for our has of Moreover, of from years quarter. concerns As extra fourth in against million the
a equipment, operations for $X.X software liabilities. flow positive in of from was decline our This increase of $X.X property, lease by decline the fourth million negative from and cash offset repayment free plant the finance in million lower it Our was was of $X.X million, use improved cash an of driven sequential and purchase third million, by capitalization quarter. internal primarily quarter $X.X the
driven This year cash in increase free improved the negative in $XX XXXX million million finance improvement and operations and from capitalization over million year-over-year prior was cash $XX increase $XX offset Our a million million XXXX. reduction a $X $XX approximately negative flow used $XX from liabilities, software. in payments by million to lease by by internally a of of
of Our in in midpoint X% coming of of expenditures on to cash our of capital revenue below we QX call. the approximately guidance fourth shared XX% X% were quarter the our revenue
expenditures our internal reminder, capital include a As software. use cash capitalized
XX% For XXXX, in to the our capital we revenue, again of our anticipate our to of expectation. X% will be range with capital of to expenditures declining closer cash X% X% medium- long-term cash to revenue expenditures previous
discuss to future I'd first again forward-looking statements Actual that everyone the law. will the by the obligation based statements. for materially, and we to statements like required now update year remind expectations these undertake are results as our forward-looking no quarter following full in today except outlook as differ of I include XXXX. and may on and current
product position best and goals. diversify in as our our to ramp revenue, strategy continue go-to-market. measures Todd our progressed, Fastly and will his on we increase investment our execute XXXX As these We velocity to shared XXXX believe in growth remarks,
today. the our reflects like guidance we current I'd customers revenue given one of the and TikTok, that Our of scrutiny in their been is operations. much on subject legislation visibility addressing U.S. note that has based to have larger dynamics business our these
in parent and XX% of revenue traffic the than less the not XXXX, know ByteDance, the represented this revenue. of Globally, of TikTok, than United We States of do outcome legislation. represented full less company our X%
the and to traffic see measure, typical our with a customers, from we revenue first excludes prudent sequential from customers forward this as at in growth ramps than incremental guidance customer. new improving quarter. seasonal XXXX our better Due So expect revenue to some U.S. largest of traffic our
for million of quarter, representing in first As expect we a range million, the the the at result, midpoint. revenue to $XXX growth X% $XXX annual
very cost better being be which network we than in We our of our to continue and approximately quarter contributed investment to margins points XX initially fourth disciplined gross basis revenues, expected.
our in Beginning compensation the will margins be XXXX, would stock-based the change internal and XXX margins. of software non-GAAP use we our added have XXXX points excluding basis gross non-GAAP to gross comparability with our This to non-GAAP peers. our of amortization approximately costs in improve our measures
$X minus the quarter, our quarter we $X to quarter, relative by payroll $X anticipate expenses for quarter. the employer result, first points. operating fourth increase anticipate benefits plus at to basis events from the of levels will the our will fourth beginning of sales from a impact XX the We gross plus taxes As XX held of the year approximately basis in million, and million quarter or first million increased the expenses margins points approximately reflecting increase first annual
our for results and the the in quarter impact expenses reflect the first increase sequential impact margin increases operating of described. the I operating in gross of Guidance
quarter, $X.XX loss per loss million As of $X to non-GAAP $X.XX we share. first result, for a million expect and of $XX a a non-GAAP the operating to
in at midpoint. of $XXX million, reflecting we revenue range For X% the expect XXXX, million calendar year annual of to $XXX the growth
increased mix XXXX. basis margins have flat, to or margin, compensation minus regions, and reminder, costs a has currently will approximately gross margins. This our emerging XXXX, traffic to of compensation beginning relative basis points compared excluding gross of anticipate the our used of in stock-based which a our We favorable As in XX of will which and in impact the non-GAAP be amortization reflects excluding impact software the lower XXXX approximately be stock-based points XXXX. we of XXX an internally amortization plus
to operating operating improvement dollar over $X in X% loss midpoint, result, loss our non-GAAP margin of XXXX million, of of margin be approximately at a $XX X%. an negative XX% reflecting operating expect terms in As we the to million of the an range
expenses $XXX the operating purposes, this XXXX modeling implies For $XXX range of million million. in to
non-GAAP our assumes in to $XX negative share XXXX. This to $X.XX. in we flow negative current million CapEx in loss expect $XX our negative to cash range And our of to in strategy. compared free expect be the per $XX We XXXX to of $X.XX be million net million the range
However, we portion a may closer lease bring XXXX expenditures our of to breakeven. to capital figure this
open we questions, would line Before the you in for thank your your interest we to support Operator? like Fastly. and for
