We the and customers. exceeded an Thank capital bottom guidance successfully raise, Cloud line. closed you, InsuranceSuite we our We Marcus. two on ranges had new a both top active completed We and QX.
our expect activity percentage. of at sales QX we of on impact to XX% as sales We As of communicated and will prior this XX% high know high-end year-to-date a be to cloud Marcus, that and were year's have subscriptions. the noted the momentum, of a almost by and large XX% this to final continue rate seasonally result subscription, of our new new
also closed year-to-date. a to three year on add to revenue Total XX% $XXX.X track license Cloud of year deals decrease ago. are million four with increased the represented We this to XX% million. revenue, of from quarter and five year $XX.X for InsuranceSuite ago other revenue a Within a from
payment QX and and Tier-X of reminder, one last recognized therefore will this be a was from very in but a in sizable customers years. subsequent As in QX invoiced for payment, recurring year, recognized our
was revenue that $XX.X range. revenue QX revenue quarter in last of Perpetual due the our in earlier to approximately In and recognized was million representing of addition, increase $X.X payments $X.X was in was midpoint guidance third Maintenance at year-over-year the million. XX% expected quarter. million, QX
toward activities in As maintenance are fees. as cloud subscription included expect shift maintenance to subscription we moderate ongoing growth services, rates we do the
QX, recurring Our the a for of ago. referenced. quarter term impacted license, XX% shift the just was this customer revenue and totaled revenue rolling from maintenance invoicing up In $XXX.X in consisting four quarter year quarter, the by third I subscription million metric in significantly
will year, guidance relevant fiscal the eventual was make in growth business. our fiscal to year incur this primary following a inclusion ongoing revenue subscription After of Guidewire greater XXX services and Cloud recognition previously ago, we metric. QX and the a previously, rolling our four driven partway recurring above for a which less Services growth and as mentioned and not in through increase and ASC key highlight InsuranceSuite until year factors: acquisition also personnel have $XX.X revenue longer our revenue. and Additionally, in of implementations, our transition metric to in ISCS, of of million, initial by no of did was XXXX some we deferred range. from quarter last this this the InsuranceNow year as services year, implementation hosting XX% adoption three Faster of demands services services quarter
operations. issuance expenses. have will non-GAAP discount costs $XX.X with our being our revenue R&D continued third in Turning on issued reconciliation press and to to of and new higher-than-anticipated quote basis, GAAP The a to sales. we projects, to of discuss of of $XX.X debt our metrics to quarter, share, related release from were provided our an stock-based the well lower-than-anticipated associated note, to driven diluted or adjustments. represented amortization a above resulted compared increase large the from difference tax million, extent, primary and income and implementation the the these expenses, compared the due investments in expenses metrics XX.X%, today comparable in year-ago. This convertible increase ago. which of the income guidance and and the recent diluted was the these ago. million and operating a in including net and investments The $XX.X several our million previously-mentioned per and the year period. XX% payment margin gross lesser due Impact of XX.X% was year a cloud was Non-GAAP to in of or in This non-GAAP income per year-ago increase of primarily was expenses as customer margin with non-GAAP compared and revenue in gross earnings work of as amortization Non-GAAP a decreased compensation million profitability, by configured operating intangibles, non-GAAP services of a of in infrastructure systems term share profit Tier-X related the ERP of acquisition $X.X GAAP Cyence, net $X.XX $X.X modestly we and effects shift to X% decrease non-GAAP our non-GAAP current million a price measures range, expected $X.XX primarily primarily
from in primarily million to balance cash, to with quarter. our the the sheet, million $X.X completed adjusted financing we billion the the second our investments, quarter cash up cost proceeds net of the third $XXX call ended due from cap in we equivalents, quarter, and in the for at Turning $XXX.X of end
the in cash million, of increase was quarter end third operating $XX quarter, million. at flow the third $XX.X addition, second deferred the free quarter. the the at $XXX.X Total revenue of million an cash In from end and million was flow was $XXX.X
we quarter a As from has our of widely payment term been to recognize license vary the indicator can since deferred not meaningful full on activity and quarter reminder, annual the annually and a balance due bill revenue date. business typically contracts
highly expect subscription increase deferred the likely However, higher to in though license sales. levels revenues variable. revenue to of revenues in quarter we deferred be attributed to subscriptions, continue higher part generated as by The was growth will deferred deferred sustain we revenues sales of
let me make will then level to expectations turning on the QX finally for XXXX. and guidance, I will year our speak Now, I first, full-year, address fiscal high to comments some
we full-year, to an million, be the XX% $XXX anticipate to the XX% For now revenue to million in from fiscal range XXXX. total increase $XXX of of
license the XX% million expect revenue $XXX XX% We annual to of to to from other in and increase range an $XXX of fiscal be million, XXXX.
revenue the only other is expect due license Compared year to our our to end perpetual recognize revenue sales, portion a term recognition. high cloud of in of as initial noted annual earlier ratable Our XX% the previously impacted and subscription and to XX% the based to transition communicated being licenses, by range. subscription be invoices can we to at we which
perpetual expect a perpetual $XX decrease million for the $XX $X revenue year. and to we license expect million from -- between Additionally, year, be million last license
million continues Guidewire participation. Services for maintenance cloud require for and $XX revenue outlook Our our on be greater is in -- XXXX. to new European to In implementations currently elevated customers fiscal $XX work million. revenue particular,
require revenue process on and for of cannot all required will million. practices best to the $XXX increased that is $XXX customer. passed be services the outlook to The million support support services services Our to build-out cloud
$XXX guidance expect profitability $XXX fiscal operating and we revenue million our QX year million our a services our to $XXX for We're between XXXX we be As outlook, the XX% to to Due fiscal result, increasing non-GAAP year. and flow for cash to also free XX% $XXX guidance to million. raising margin higher are income this to in higher million.
are $XX.X our to million or we $XX.X income per addition, share diluted non-GAAP approximately shares. to diluted million on $X.XX to million raising $XX.X In outlook for based net $X.XX
the million. to revenue maintenance to of revenue million $XX $XXX $XXX we and million revenue total the of to revenue other million QX, expect range of to $XX in license range anticipate to in we $XXX million revenue million of Within Turning be to and million. be $XX to million $XXX $XX services
quarter, $XX and $X.XX fourth $XX.X income between net to or and shares. non-GAAP a anticipate approximately million per on million $XX the For million share between per XX income $XX.X non-GAAP we million to $X.XX million operating diluted based share
preliminary XXX all our adoption Looking our qualitative ahead to unless now otherwise provide XXXX. based stated, of fiscal commentary commentary; to XXXX, Xst is want some August on of ASC on we of
the outlook past, XXX contracts XXXX. an in transition the subscription discussed have much the very and is we As for this to adoption have of impact evolving. our outlook on And
contracts, fiscal will contracts amounts with two discussing the revenue due positively more primary our as renewals. years two in coupled recognize of 'XX revenue two-year of as contracts will well to factors revenue to renewals. our first, two, the associated be will for sold to as impacting contracts fiscal customer recognition 'XX a for we will respect licenses modify amounts by And due expect the growth. license earnings. the factors are of impacted due in to lost license this other taper sold we due recognized at that result revenue 'XX accounted services be we being sales, long And not we to not revenue. fiscal we Subscription retained September. two-year slightly value in XX% fiscal capture be number two revenue duration These XXXX. begins positive will annual these as growth associated of and XX% assumes new full value recognized retained XXX, fiscal in partial revenue modification remaining earnings existing able annual will fiscal to be in in new since contract contracts call respect which subscription spend have successful growth expect standard to increase ratable when This lower will license a these top on We factors, expect Netting to contracts 'XX. will of revenue recognize approximately 'XX factors; neutral XXX annual on year Under revenue, 'XX will offset contracts and our in normalize will XXX; adoption net fiscal with we compared to signing, and term effects than as upfront. in to typically our will to license At faster new assuming full impact With two long-term term auto grow in able accounting in time years to XXXX. to QX total a With by and annual with mix this be will sales. subscription amount auto fiscal be 'XX Day other growth Analyst in and modestly line, to during of of
three Turning operating fiscal on year to and pressure factors profitability, 'XX. there putting primary are operating income margin in
transition First, mix. of due gross lower cloud services percent the the a margin continued and as will revenue elevated be total to to
would migrate Second, cloud indicated to of support we in year the transition. a to XXXX be that operations invest this as and R&D and previously cloud investment we
expect We being made. the have and weighted hiring In than to spent investments additions to XXXX, digest due we slightly anticipated in XXXX. XXXX, headcount and less initially slow largely in year-to-date our back
in full be this of made the in operating reflected impact year the XXXX. investments expenses However, will our
Third, we fiscal in our be expect continue to to diluted XXXX. Cyence income to operating
factors a expect As margin we do XXXX. to of see operating these not result in expansion
that the summary, discussed be moving analysts in levels. our exceeded well flow past, key the the quarter indicators In in further our and forward profitability cash mentioned third day. to will of executed metrics revenue have at we progress we other As and and guidance deliver
the that Thank us. you. remain well-positioned continue call to of Operator, a dollar opportunity optimistic quarter a ahead of we you strong see that the questions. will fourth seasonally can meaningful capturing now open share We multi-billion are for we and
